Posted on 12/24/2018 10:22:06 AM PST by Sir_Humphrey
wo major stock indexes headed toward their worst Christmas Eve of trading ever on Monday, as the S&P 500 pushed to the cusp of a bear market.
Markets responded to turmoil in Washington. Multiple reports said President Donald Trump is discussing how to remove Jerome Powell from his position as chairman of the Federal Reserve. That discussion, as well as the recent market volatility, spurred Treasury Secretary Steven Mnuchin to call the leaders of the six largest U.S. banks over the weekend. Additionally, Defense Secretary James Mattis announced he would step down at the end of February, saying his views do not align with the president’s.
(Excerpt) Read more at cnbc.com ...
You are partially correct here. The interest rate raise was also due to the desire of the Treasury to undo the quantitative easing mess OSlopulism put on it which would believe it or not cause worse from what we are seeing. The effects are combined.
You left out Soros
If the Fed actually overtightened, it was purely by chance.
*************
If? I think its pretty obvious the Fed overtightened. This is, by and large, the POWELL PLUNGE.
The Fed shouild have stepped back to see what effects these hikes were having before they pressed ahead. This is not the first time the Fed has taken a ‘Ready, Fire, Aim’ approach. Their track record is not an admirable one at all.
I agreed. The best thing to do is to downplay the economy. He has to keep his cabinet close and assured they are on board. Fixing small things at a time then the big thing will take care of itself. The market falling very unusually but it will come back.
He needs to get the boarder resolutions done asap. And stop driving the democrat nut. They are always nut regardless.
Gas is cheap, the other sectors of the economy are strong. The market will come back. JOb reports and unemployment is what people go off of.
That’s right.
That’s a pretty good description.
The Fed directly caused this - not Trump. Therefore they should be yelled at.
The American economy is extremely overvalued and the country is horrifically in debt. The tariffs are defensive and aren’t the big issue. Big issues are Americans at large are spoiled to the point of collapse; they don’t know what they don’t know and many don’t care and want more. We have squeezed every free dollar possible from value and credit and it’s time to let the free market balance itself. Given how economically ignorant, entitled, and ugly a significant amount of Americans are it’s not obvious how this situation will be corrected. Many Americans want MORE stuff and free is better! And they feel entitled to it! Many Americans aren’t mature or worthy enough to have the collective wealth and decision power they have. Instead of reflection they will probably blame the President and the Demonrats will do everything they can to pander to the ugly, selfish, moronic masses.
If you claim to be responsible for it going up, you have to take blame for it going down. Nobody gets credit for anything good without being at risk for blame when the not so good happens; that’s what comes with being the boss.
If only Jeb! had won. Or Hillary! (I’m with her).
Alas.
Merry Globalist Day.
“It doesn’t seem that long ago that the money experts were fearing that it would dip below 10,000.”
Still could....
Fed raised interest rates eight (8) times in two (2) years during the Trump administration. Not a single time from 2008 to 2015
This looks to me like retail capitulation. I suspect a lot of 401K holders decided to sell over the weekend.
There are a number of stocks that are starting to look like decent buys. I was getting 3.9% on my portfolio of common, and I’m now getting 4.37%. It would not be difficult to set up a portfolio of decent companies that pays 5% without too much risk. I like CAT, IP, OXY, JPM, and AAPL at these prices.
There are also a number of REITs and preferreds paying more than 6%, and I’m talking good credits with clean balance sheets.
If you have cash to invest, you could do worse.
XOM beginning to look good again, if for nothing more than the dividends.
Really? Solid companies will be paying 9-10% dividends at 4 times trailing earnings?
Not going to happen.
This is a Deep State operation (through the Fed & the banks) to take out our President. Clear as day.
I don’t really like XOM because they’re more a financial engineering play these days. The oils I do like are OXY, CVX, and RDSB, all of which are paying nice dividends.
Markets responded to turmoil in Washington.
Lol. That’s the agitprop theme for the moment.
...
Yep. Fake News.
The corrupt media has been doing this for decades. They pick what ever topic they like to explain market drops based on their agenda.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.