Well, it’s the night before the “NEXT” interesting week as the “coved-19” virus is expanding rapidly through one state after another. I happen to live in the “center” of the attack (Washington state) and, I believe, the number of CONFIRMED cases exceeded 500 as of today in America while our IMPEACHED so-called president is STILL claiming his administration’s actions dealing with this crisis is “perfect” and then, of course, he added “Just like my phone call with Ukraine was perfect.” Well, that says it all.
I just took a peek at the “DOW” futures which are suggesting the market is going to open around 1000 points down further from where it ended on Friday. The oil market is “tanking” and the price is going down to the point where America’s shale oil producers are going to be looking at prices below their cost of production. And, my understanding is many of the shale oil outfits are operating via low interest capital they’ve borrowed causing some of them to possibly be facing economic disaster. I’m guessing our IMPEACHED so-called president who denies Climate change and believes in fossil fuels will attempt to bail these operators out but the downward pressure on the stock market may very well continue – or increase!
Before all this started – meaning the stock market heading south – I had been “speculating” the market was like a house built on sand. With interest rates hovering between 0 and 1.5% over the past few years, I’ve surmised (again, I’m not an economist) the “big boys” have been borrowing money to invest because of these incredibly low rates. However, even when the rates are low, you have to pay the money back. (Unless, apparently, you’re our IMPEACHED so-called president – I’m presently reading “Dark Towers” by David Enrich which is about Deutche Bank and its relationship with individual 1 and all the loans he’s stiffed them on) Based on my observations over the years, I believe when the market starts to tank people who’ve borrowed too much will be forced to sell and, I think, this is how the downward pressure can “mushroom.”
I’ve been reading as much as I can about what is really happening in our government and our economy and, by many accounts, the “manufacturing sector” of America’s economy has been in a recession for months. (This was the sector individual 1 was going to “boost” with his “perfect” trade deals) Along has come the coved-19 virus which is making a world wide recession look possible if not probable and add to that a price war among the major oil producers around the world and you have the possibility of the exact situation I’ve been saying I hope “we the people” don’t have to deal with as long as individual 1 is at the “helm.”
I don’t believe I’m the only American who has NO confidence in the ability of our IMPEACHED so-called president to be able to manage a MAJOR economic crisis – which, it appears, may be on the horizon. Just in the time it’s taken me to write these first few paragraphs the “DOW” futures has dropped another 300 points suggesting it’s going to open somewhere around 5% lower Monday morning than it closed Friday afternoon. Who knows where it goes from there – again, I just observe and postulate – but, my instincts tell me this: “If I had borrowed a bunch of money on short term credit to buy stocks I’d be very nervous.”
What I’m concerned about is the possibility we could be going into another major financial crisis – it seems these things follow republican (so-called) presidents around. I would love to be a “fly on the wall” in the “White House” tonight (provided they don’t have a good fly swatter :o) based on all the books I’ve read which have documented the behavior of our IMPEACHED so-called president “when the going gets tough.” I’m guessing he’s having quite the fit and, tomorrow, (or this early morning) he’ll be lashing out and throwing BLAME around like baseball players throwing balls to warm up for the next game. Somehow, individual 1 will find a way to blame President Obama, Hillary Clinton, CNN, MSNBC, and maybe even James Comey for the sudden downturn in the economy. Most certainly, he’ll be upping the assault on Hunter Biden and his papa!
I’m going to turn in – I’ll finish this post later. If you’re reading this, please forgive my own narcissism (I’m not in the league of our IMPEACHED so-called president) because, in essence, I’m simply writing a personal diary. Getting my thoughts down on paper. It’s fun for me to go back and look at the times when I guessed right about things like the market or things relating to our IMPEACHED so-called president. I’m guessing this next week is going to be, as they say, a doozy. Individual 1’s complexion very possibly is going to be more ORANGE than normal. I’m beginning to feel this economic “slowdown” could be significant and we all need to “brace ourselves.”
I don’t ever remember trying to figure out what the DOW futures were saying, so it will be interesting how it plays out tomorrow. I’ve seen days where the market opened way down and then worked itself back up over the course of the day, I’m just feeling a bit uneasy that the “headwinds” maybe too strong at this point in time. We’ll see…………….
OK, it’s Monday evening after the 2000+ point sell off of the DOW today which was “hinted” by the futures I quoted last night. I’ve referred to what is going on with the stock market as a “roller coaster” so, we should be able to expect a jump upward tomorrow – and, as best as I can tell that’s what the “futures” are telling us – although the effect on the economy of the “oil war” emanating from Saudi Arabia’s flooding the market with oil resulting from a failure of negotiations with Russia to control the world’s oil supplies could potentially result in further downward pressure. Oh yes, there’s still the coved-19 virus! Just sayin……………..
Today I listened to a bit of individual 1 and it just reminded me we are being “led” by someone who is so INCOMPETENT it’s just baffling to understand how he could have”won” the last election – even though we all know he had 3 MILLION less votes than the girl he was running against. For three + years I’ve been wondering why so many Americans are failing to understand they have a mob boss as their IMPEACHED so-called president who has no idea how to run anything close to this government. He’s bankrupted 6 businesses over the previous three decades and, I’m guessing, once he’s out of office, his present business could be in a bit of trouble – as I’m learning about his debt to Deutche Bank in the latest book I’m reading, “Dark Towers,” which I mentioned above.
On many occasions I’ve pointed out the economy individual 1 inherited from President Obama is one “gift” he, as yet, has failed to destroy. He would have you believe the economy is still “strong” and the result of his “genius” – I believe he’s still using the term “perfect” while speaking from one side of his mouth and then, out of the other side of his mouth, saying the government is considering a payroll tax cut in order to “stimulate” that “perfect” economy – which, of course, wouldn’t need any “stimulus” if it really was perfect. Well, it doesn’t take an expert to realize the stock market doesn’t drop nearly 20% in less than two weeks in a “perfect” economy. (I’m reminded of John McCain suggesting “The economy is strong” as the bottom was falling out in 2008) We all know how that played out.
It seems as if individual 1 is constantly trying to outdo his nemesis, the aforementioned Barack Obama, either by writing executive orders to overturn any “success” of our previous president (the popular one) or but by simply making derisive comments about him and/or other of his so-called “enemies.” (really does remind me of Nixon) He (and his republican brethren) berated President Obama for the “stimulus” which saved us from the “Great Recession” and now our IMPEACHED so-called president is talking “stimulus.” He’s LIED from day one about the economy – taking credit for what President Obama bequeathed to him – and, I’m guessing, as it tanks – if it does – he’ll find a way to BLAME our former president for the downturn.
Well, it’s also been reported individual 1 is terrified of catching the coronavirus and I’m wondering which scenario worries him most – the possibility of a recession or catching the virus – when 80% of those who get it are only “mildly” affected – but BOTH of these issues, it seems to me, are (or should be) causing even some of individual 1’s CULT to realize his incompetence. The coronavirus (coved-19) is already showcasing this INCOMPETENCE and the duality of this virus and the oil “war” could send the world economy into a recession which will further showcase the incompetence of our IMPEACHED so-called president.
I still remember all the “free market” republicans – yes, the very people who would call Bernie Sanders a “Socialist” derisively – solving the financial crisis in 2008 with a very SOCIALIST solution – a government BAILOUT. We’re likely to see the same thing in this present instance – in fact, we’re already seeing signs of this by the pressure on the Fed to get interest rates down to ZERO once again and the government to “give money” (they emphasize it’s not a “bailout”) to the ailing industries, like the airlines – which will leave no more room to “stimulate” the economy via that route once we actually know the extent of the problem. Additionally, we’re hearing suggestions of “quantitative easing” – which, I interpret as flooding the markets with “easy money” – (again, I’m no economist, so I’m just postulating) and various forms of tax cuts. Inflation on the horizon???
Of course, NONE of these ideas will have much affect if Americans feel they have to stay in their homes except for emergencies (like basic shopping duties), stopping travel, and, in many cases, people losing their jobs – hopefully via temporary layoffs. I think individual 1 understands he WONT be able to campaign on the economy if the market doesn’t rebound and, if he can’t claim the economy is strong, his debate performances could be embarrassing. For example, it was reported the other day “manufacturing” has been in recession for several months and the airline industry is in a similar disastrous situation as they were following 9/11. Would he be campaigning on providing a HUGE tax scam to industries which now need more money?
I read Rachel Maddow’s book “Blow Out” a couple months ago and I’ve loaned it out (and, by the way, I thought it was one of the best books I’ve read in the past several years) so I don’t remember much of it, but what I do remember is her documenting the oil shale industry in America and how these businesses seem to be operating – which is on borrowed money. So, this big drop in oil prices very likely puts the price of oil well below these shale operators cost of producing it. It won’t take long, based on what I remember reading, for many of these “oilmen” to be in serious financial jeopardy – because, they’ve to repay the loans they use to operate on. This could be a serious “hit” to America’s economy.
I took an online class from Paul Krugman and discovered I’m in the category of many people who like to write – well, similar to some of the people Mr. Krugman reads and his critique of them sent a message to me. Often times when I write I don’t have a clear purpose or objective or argument. For example, I’m sitting here thinking “Is my argument we’re heading into a recession?” or “Is my argument that individual 1 is incompetent in dealing with both the coved-19 crisis and the economy?” Or “is it both?”
It’s late, I’ll be back! I’m guessing the market jumps up tomorrow and the wild swings will continue for the next (possibly) several months. The question will be on the forefront at all times will be how much further DAMAGE can individual 1’s administration inflict on “we the people?” I’ve been asking that question for almost three years now and trying to speculate – and wondering what would happen if there arose an actual crisis? Well, it appears we’ll find out. I’m going to edit this post tomorrow and, hopefully, publish it. And, the beat goes on!!!
Final Thought: When you’re watching individual 1 standing in the Centers for Disease Control in front of the Scientists who are actually on the front lines of fighting this coved-19 virus and LYING; the look on the faces of the Doctors he’s standing with kind of says it all. If you haven’t seen the video of our IMPEACHED so-called president calling the testing perfect, “like the phone call was perfect,” while these doctors are rolling their eyes you should see it. It’s ANOTHER embarrassing example of this IMPEACHED so-called president.
If you remember, when Steve Bannon was individual 1’s top adviser (and, by the way, the smartest, in my view – I say that despite my disgust for Bannon), he pointed out the goal of their administration was the “deconstructing of the administrative state.” Well, while “we the people” have been “chasing out tails” trying to keep up with one scandal after another coming from individual 1 – him brazenly TAUNTING the republicans in Congress to draw the line – which they’re afraid to do – his administration has been succeeding at this “deconstruction.”
These people HATE government (other than their ability to STEAL as much taxpayer money as possible before “we the people” figure out what they’re “up to”) and one part of the government they’ve succeeded in “deconstructing” is the HHS (Human Health Services) – which would include the CDC and, therefore, the section of HHS which deals with potential pandemics. It’s as if EVERYTHING they’re doing is absolutely the WRONG thing for our federal government to be doing in the face of this type of crisis. Individual 1 and his sycophants have NO ability to anticipate the issues which are possible and when crises arise, their incompetence just gets further exposed! Yikes!!!