Dow Plunges 1,100 Points; Where Is Trump's 'Very Major' Coronavirus Stimulus?

https://www.investors.com/market-tr...oints-coronavirus-strikes-stock-market-again/

With the DOW currently down by 1379 points, we have officially entered Bear Territory (defined as dropping more than 20% off a recent high). If this result holds through the end of the day, this means an end to the longest Bull Market in US history.

The fact that Tuesday came and went and now we are mostly through the trading day on Wednesday without any further details on Trump's "very major" stimulus package appears to confirm the reporting that Trump shocked his allies by promising to discuss the package deal before it was ready.

Congress has balked at the payroll tax holiday proposal and McConnell has publicly signaled that his plan for a Coronavirus Stimulus Package is to let Nancy Pelosi handle it.

Granted, that is a good plan considering that she managed to end the Shutdown.

 

I'm afraid this epic bull market for U.S. stocks that began on March 9, 2009 with the S&P 500 sitting at 676 is finally coming to an end.

Will be a miracle if the bull can escape intact this time

If the S&P closes below 2,708.92 (20% lower than the recent Feb. 19 record-high close of 3,386.15) the bull market is officially over.

My best guess, at this point, is a drop of between 25% - 30% (in the coming weeks) from that Feb. 19 high, which would take the S&P down to around 2,450 or so.

Currently, the S&P 500 is trading at 2,745...

 

I'm not worried. This doesn't scare me. The panic is hurting America and Americans which is why Democrats and neo-communist are invested in creating it.

This will pass.

 

The democrats don’t like a payroll tax holiday because is doesn’t help their core.

The democrats use to be the party of working folks.

These days the democrats are the party of hand outs & benefits for illegals.

How can a payroll tax holiday help people who don’t work?

 

Oh well, if only the stock exchange would read this post!

The notion isn't about panic being created or not. That's just a silly political argument that holds no water. The real issue at hand is people whose primary jobs it is to put America's capital to most efficient use see a problem coming. You can't ignore it all you want, that's fine, but they are paid NOT to ignore such things.

 

Who is that? Everyone on social security? You think that's purely the democratic core? Or were you trying to say only poor people support democrats, because ha ha, have I got a surprise for you! Turns out there are POOR REPUBLICANS!!!!!!

Well given that the unemployment rate, something you and yours like to brag about is at 3.9%. And yet, 28% of Americans are registered democrats...Hmm, 28% is more than 3.9%...so you need to explain that discrepancy. Unless the explanation is you just wanted to make something up on the internet, in which case, mission accomplished!

 

I'm gonna bet as it gets hotter the Corona virus is going to drop off.

 

Why didn't the Republicans like the payroll tax holiday?

 

We have zero knowledge about whether the Coronavirus even has a season in the same way that the Flu does.

 

Do you really think the democrats would approve of a plan that only helps people who work?

What about the welfare mom’s?
What about the illegals ?
What about the college students?
What about seniors?

 

It would need to start in the house.
How did the vote go?

Why didn’t Nancy have a vote?

 

McConnell doesn’t have to wait to long the package should be delivered late today or tomorrow.

The payroll tax is simply asinine. It would be simpler with less long term consequences to hand out cash (seriously).

Oh! Yeah. The Monday speech was off-the-cuff. There was no plan and we already should have known. He thinks he’s helping by pulling stunts like that but he’s actually making things worse on Wall Street.

 

Setting aside the fact that Nancy didn't hold a vote because THERE IS NO WHITE HOUSE PLAN...

You dodged the question. Why didn't Republicans like the payroll tax holiday?

 

Here's Trump contemplating the White House plan...



That was easier to call than Spring starting on March 20th....

 

A payroll tax holiday only helps those who have a job?? What about all those who are in the process of being let go because business has come to a screeching halt??? They will need help a lot more than those still employed.

 

Show me the vote ?
The democrats hold the house.... they don’t need 1 republican vote.

Why didn’t Nancy call a vote?

If only democrats wanted a payroll tax holiday, then I am sure Nancy would have the vote.

Trump suggested it, but democrats control the house.

What are the democrats suggesting?

 

Why wouldn't we help people on welfare, in college, or seniors? Who says seniors, college students, and mom's on welfare DON'T work? I worked during college. I've seen people getting food stamps who work. They HAVE to work more often than not, by the way. My mom has a retirement job because she likes to work with kids. Also, what makes you think illegals don't pay payroll taxes? If they are stealing all these jobs, and all this work is getting done, and all these companies aren't paying payroll taxes (remember, employers pay half), then why hasn't anyone noticed and identified every single illegal alien in the US? You really should use that thing you lug around at the end of your neck all day more....

 

Typical of leftwingers. Bash Trump constantly, but now it's Trump please bail us out!!!!

It's like kids who think they know more than their parents, until about one hour after they've run away from home.

 

Setting aside the fact that Nancy didn't hold a vote because THERE IS NO WHITE HOUSE PLAN...

You dodged the question. Why didn't Republicans like the payroll tax holiday?

Here is the plan from the Democrats:

You know...stuff that will actually help people who get sick.

https://www.speaker.gov/newsroom/3820-0

 

Why should the democrats in the House bail out Trump? He's the guy who claims there's no threat from corona. And he's the guy who claims the stock market is under his control and that his election as president will ensure it never goes down. So what can Nancy Pelosi and democrats do about it? Nothing. It's up to him now. I'm sure he will come through. I mean, he better, November is coming fast...

 

He promised he's amazing at everything, such as the stock market. YOU and HE sold that message. So don't be surprised when you're held accountable for it. I know that's a new thing for you on the right, accountability, but you'll get used to it.

 

This is not leftwingers demanding to know the details of Trump's "very major" coronavirus stimulus.

It is the investors currently looking at another ~6% drop today.

Democrats are already working on their own stimulus package and they just need Trump to shut the **** up and let the adults govern.

 

It really doesn't matter, what the Dems are suggesting, since anything they do pass will die on McConnell's desk...

But here it is anyway

https://news.yahoo.com/house-democrats-set-vote-thursday-142246814.html

I wouldn't be in any hurry if I were Nancy... Let Trump reap what he has sown for a while...

 

How can you identify illegals, when sanctuary cities protect them and do not turn them over to ice.

If college students & welfare moms worked, they could benefit from a payroll tax holiday, but we both know.... Democratic voters don’t want to work for benefits.

Even the college students want the working folks to pick up the tab for their student loans.

 

Nah, much better to show the country that Democrats are the adults actively trying to help this situation and they are better than some ****ing moron who is golfing while Americans die.