If you’ve had any question in your mind about the foundation of the Wall Street stock exchange the last couple of days should give you a good idea of why there’s such a difference between Wall Street and “Main Street.” On the “corona virus fears” the market plummeted about 1800 points in two days (between 6 or 7%). Recently, I’ve written about my concern with people judging the economy based on “Wall Street” and, I believe, this sudden drop of almost 2000 points shows what I’ve been relating. Basically, I guess, my point is I believe the “DOW” is a “house” built on “sand.” Of course, I’ve admitted my opinions are based solely on observations from afar, but, it appears to me, there are many investors who are BORROWING “cheap” money and trying to earn more GAMBLING it on stocks than they have to pay in interest.
For really wealthy people, I believe, the interest rates aren’t much higher than zero – maybe something like 1.5%. So, you know, “why not?” As our so-called president said to communities of color back in 2016 “what have you got to lose?” Well, apparently, a lot – because you see this “sheep mentality” where panic sets in rather quickly. That’s the only way I can understand sudden drops like we’ve seen for the past couple of days. Today, at the close, the market (DOW) started to edge back up – which tells me, the “day traders” are ready to “jump” back in. I’m guessing, short of some more news on the coronavirus, the market will go back up tomorrow. Of course, if there really is a danger with this virus, the news should be about how individual 1 is (NOT) dealing with this crisis. If it becomes a “pandemic” we’re NOT in “good hands.”
Well, I wrote all that on Tuesday and it’s now Friday and another 2500 points off the DOW on Wall Street. I guess all it took was for individual 1 to give a news conference to “reassure” the American people about the coronavirus and, well, down we go! Apparently, his reassurance didn’t do much for the traders on Wall Street. However, the Fed did respond by assuring investors they would “do what’s necessary to protect the economy.” (Obviously, the Fed views the “economy” as Wall Street just like our IMPEACHED so-called president. On the second half of the day on Friday of the week which caused some of the orange on individual 1’s face to smear, the market recovered several hundred points (on the DOW) after the announcement that interest rates would be lowered even FARTHER!
That was last Friday and it’s now Monday, and sure as shootin, the market made a significant recovery today, again, thanks to the Fed saying, essentially, they’ll “pump” whatever they need to pump into the economy to assure the market recovers. I’m not so sure that does anything for the foundation of “sand” this market seems to have been built on in the last year – but, we’ll see. The “coronavirus scare” is apparently what caused the huge drop last week and, it seems to me, if there’s really going to be a negative affect on the economy from the virus that would be in the next couple of months. At that time we’ll find out of it’s soon to be “recession time.”
Personally, I believe a recession is in the future if for no other reason than this “expansion” is in it’s 10th or 11th year. We’re due – and I would just prefer that individual 1 would have to defend his economic policies while trying to pull “we the people” out of a recession before the election and not after, should he “win.” (Likely with a few MILLION less votes than the democrat) I believe the reason his orange color is smearing is because he is nervous about the prospect of campaigning with the economy in recession – although, he’ll have no problem blaming the democrats and his cult will no doubt believe him. It’s everyone else I’m thinking about.
And, today I read where the Supreme Court has agreed to hear the case where republicans are attempting to FINALLY destroy the Affordable Care Act (AKA “Obamacare”) which would affect the insurability of 80 MILLION Americans with “pre-existing” conditions and would eliminate the insurance for another 20 MILLION. They’ve managed to get the Court to agree to hear the case after the election (in 2021) – but, I’m guessing democrats won’t (or at least SHOULDN’T) have too much trouble making this a MAJOR campaign issue. I’m not sure if it’s too late to stop this attempt to make health care an EVEN larger issue in America, but, in the end, it could speed up the process of a “single payer alternative” should the republicans succeed in court.
To me, this is a great reason why democrats need to stop fighting amongst themselves and agree to a UNITED front in the election this November. I have to say, I got to the point of disgust listening, for example, to Pete Buttigeig talking about Bernie Sanders as if he was some kind of pariah. And, Amy Klobuchar – as if people in the Midwest don’t want everyone in America to have health care or don’t want college to be affordable (or free). I was part of a national poll tonight and I answered the question as to who I would vote for in November as, well, any democrat (in this poll they listed Sanders, Biden, and Bloomberg).
I’ve been pointing out for years, the issue I have with the democratic party is their unwillingness to defend their own fundamental beliefs – and, I’m talking about the beliefs that put them in power for 40+ years after FDR. While there were a couple republican presidents thrown in (and, to me, Eisenhower was “acceptable” and Nixon “much better than what “we have today”) the Congress was pretty much controlled by democrats. Now, it’s true the “Southern Democrats” of back then, are today’s right wing republicans and many of “yesteryear’s” republicans are now democrats – but, the reality is there was 35 years of progressive legislation from the 1930’s to the 1970’s which created privileges too many Americans have taken for granted – to the point where much of it is going away. And, I’ve always said, it’s much easier to give up your rights than it is to get them back!
I’m going to take a break – tomorrow is “Super Tuesday” and, hopefully, I’ll finish this rant shortly thereafter. It should be interesting. Bernie could have the nomination “sewed up,” Biden could be “back,” and, hopefully Bloomberg will be throwing his money at one or the other of them. With both Bloomberg and Tom Steyer promising to support “whoever” is the nominee – that would be the result of the VOTING – I think democrats have a great opportunity to not only get rid of individual 1 but to take back control of the Senate. It’s going to be a WAR and I hope they’re up for it – as I’ve said, their unwillingness to defend their own most basic beliefs is what has got us to this point in time – and, it’s time for democrats to reclaim their roll as the party of Middle Class, the working class, progressives, liberals, people who believe in telling the truth, people who aren’t AFRAID of fear mongers or bullies, or however you want to say it!
Well, it’s the Wednesday after “Super Tuesday” and all the “moderate” democrats are sighing a breath of relief with Joe Biden as the latest version of “The comeback kid.” I didn’t watch the returns last night, but I was driving around this morning and it sounded as if the delegate counts between Biden and Sanders is about even where most “pundits” thought Bernie would be on his way to the nomination as of today. Now, it appears, Mr. Biden has an inside “track” to the nomination with virtually all of the candidates who’ve dropped out throwing their support his way – most importantly, the man with all the money – Michael Bloomberg.
I’ve been saying all along I don’t care who the democratic primary voters choose, that’s who I’m voting for in November. It sounds as if I’m FAR from alone – as, according to the people I listened to this morning as I drove around, something like 85% of yesterday’s RECORD number of voters, when “exit polled” said they were going to vote for whoever wins the nomination. That’s a good sign! It will be good if this nomination is settled prior to the convention so democrats can work on uniting for the big PUSH to defeat individual 1 this November.
Of course, the republicans are already in “panic mode” – similar to when Biden originally “threw his hat into the ring” last April. Individual 1 has been IMPEACHED once for his reaction to his FEAR of running against Biden, it appears he wants to do so again – although, I think, this time he’ll rely more on his sycophants. The other thing of note I heard as I drove around today was Senator Johnson from Wisconsin (The state which gave us Joe McCarthy and the John Birch Society for those of you too young to remember) is going to open “hearings” on Barisma. Of course, Barisma is a company in Ukraine – so, why do you think republicans would want to “investigate” it? Does this remind you of Benghazi? Honestly, it’s all they got! You can’t run on a tax scam which ballooned the deficit by more than double, right wing judges, and an assault on environmental protections via executive order. (Of course, republicans “rail” against executive orders when there’s a democrat in the “White House”)
Final Thought: I’ve been lobbying for MSNBC to get rid of Chris Matthews for several years now and they FINALLY did it. I long ago stopped watching him except on rare occasions and, tonight, apparently, he came on the air, said “goodbye,” and that was it. After a commercial break, he was gone. I have to say, the democrats have a much better chance of winning in November without him on the air making excuses for right wing wack jobs and excoriating Bernie Sanders – doing the same kind of things he did in 2016 – creating this false equivalency between Sanders and individual 1. Obviously, some of the damage has been done, but, hopefully, MSNBC can find someone who actually represents the “progressives” among us – who have far fewer “representatives” on the airwaves than those supporting individual 1 or “the status quo.”
For example, I like to watch disaffected republicans like Nicole Wallace on their airwaves, but she is clearly in the “status quo” lane – “pining” for the days of President Obama. To me, that’s going backward and having the media outlet considered by many to be the “liberal” alternative to Fox beginning to line up behind Joe Biden, as if Sanders can’t beat individual 1 – despite what the polls ALL say – is frustrating to say the least. Now, if MSNBC could find their way to expunge Chuck Todd from their station, in my mind, we’d be headed in the right direction. When people who’ve been watching what has played out in America over the past 40 years are (finally) saying, “This is a WAR for the heart and soul of this nation” we don’t need “pundits” suggesting to “liberals” and “progressives” that someone like Sanders, who, to me, represents what a democrat was when I was young back in the 60’s – NOT some radical – a man who’s FIGHTING for the single payer health care system republicans have succeeded in blocking – to the point where we have a BLOATED – for profit – health care system which is twice as expensive as it should be with results putting us somewhere in the 30’s compared to the rest of the world – he shouldn’t be considered “radical.”
I guess, in America, being honest – as Sanders is when he describes himself as a democratic socialist – is out of the mainstream. Well, it’s time it was BACK in the mainstream and having Matthews off the air will make that challenge just a bit less daunting. Now, we wait to see who NBC puts in that time slot. Remember, with these media outlets – including the so-called “liberal” ones – “it’s all about the Benjamin’s.” I’ll give individual 1 credit for saying the truth in one instance – the media doesn’t want him to lose because they’re making a HUGE haul with him as our IMPEACHED so-called president.
I have to add this: The stock market has been going up and down like a yo yo the past few days. I remember saying this back around the time I started writing and putting it on this site. When the market is having these wild swings – “fasten your seat-belt.” It feels to me as if we may be looking at a serious slide to the “south.” Of course, as I’ve said, I’m no economist and I just observe from the outside, but from my perspective, when this major moves up and down are happening they are caused by the greediest of the Wall Street investors and my sense tells me they’re trying to squeeze as much out of the market as they can on the way down. Yes, I understand I have no idea what I’m talking about – it’s just my intuition that in the past when these swings have happened they are followed by a significant “downturn.” We’ll see! As the saying goes, “Time will tell.”
I’m very tired so my apologies if this rant doesn’t make any sense. It took about a week to finish!