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Drudge Retort: The Other Side of the News
Thursday, March 12, 2020

The Dow Jones Industrial Average fell sharply Wednesday, ending more than 20% below its all-time closing high from last month and meeting the widely used definition of a bear market. The S&P 500 index and Nasdaq narrowly avoided the same fate.

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Great! No pain, no gain.

--Democrats

#1 | Posted by nullifidian at 2020-03-11 05:42 PM | Reply

Trump's Bear Market.

#2 | Posted by Zed at 2020-03-11 05:59 PM | Reply

Trump's Bear Market.
#2 | Posted by Zed a

So a Russian Market

#3 | Posted by truthhurts at 2020-03-11 06:14 PM | Reply

I miss Obama's market performance. He was so much better than Trump is.

#4 | Posted by bored at 2020-03-11 07:17 PM | Reply | Newsworthy 3

Trump's toast. Lol

#5 | Posted by Effeteposer at 2020-03-11 09:07 PM | Reply

Trump was dumb enough to take personal responsibility for the market's performance.

Ok, moron, it's yours.

#6 | Posted by anton at 2020-03-12 07:52 AM | Reply | Newsworthy 6

His ham handed approach to the virus allowed it to spread uncontrolled in the US. Only now they are waking up to the gravity of the situation about 12 weeks too late.

He chose to ignore the warnings from the intel community.

He chose to fire the pandemic response team because the black guy put it in place.

He chose tax cuts for his buddies over funding the CDC.

How's your 409k doing today?

#7 | Posted by Nixon at 2020-03-12 08:29 AM | Reply | Newsworthy 5

This Democratic Hoax is sure expensive.

#8 | Posted by danni at 2020-03-12 08:33 AM | Reply | Funny: 1

I'm saving a bundle. Flights are cheap right now.

#9 | Posted by sitzkrieg at 2020-03-12 08:59 AM | Reply

I'm saving a bundle. Flights are cheap right now.

#9 | POSTED BY SITZKRIEG

Yay for you.

I am losing thousands of dollars.

And I am sick of all this winning.

#10 | Posted by donnerboy at 2020-03-12 11:32 AM | Reply

All gains under Trump have been completely wiped out in two weeks. They really are Trumps markets now.

#11 | Posted by Whatsleft at 2020-03-12 12:05 PM | Reply

#11 ETTD

#12 | Posted by Gal_Tuesday at 2020-03-12 12:07 PM | Reply

"I am losing thousands of dollars.
And I am sick of all this winning."

This is especially hard for folks nearing or at retirement age.

#13 | Posted by Gal_Tuesday at 2020-03-12 12:09 PM | Reply

This is especially hard for folks nearing or at retirement age.

#13 | POSTED BY GAL_TUESDAY

This is also especially hard for folks who know that most of this could have been completely avoided or mitigated with the proper preparation and leadership.

#14 | Posted by donnerboy at 2020-03-12 12:14 PM | Reply | Newsworthy 1

Re #13

You know who must be terrified tho?

Old folks. The really Old folks living in retirement communities

Especially after they hear about what happened in Washington State.

#15 | Posted by donnerboy at 2020-03-12 12:21 PM | Reply

#14 Yes. Electing a lying, incompetent, narcissistic, bankrupt-loving billionaire has consequences. Grave ones in more ways than one when it comes to the corona virus crisis.

#16 | Posted by Gal_Tuesday at 2020-03-12 12:23 PM | Reply | Newsworthy 1

"Old folks. The really Old folks living in retirement communities"

Old folks and their friends and relatives. They recently locked down a local independent/assisted living center where my friend's mother lives due to a stomach bug. The idea that these centers will have be locked down for the coronavirus, and people won't be able to get into see their elderly loved ones is haunting and frightening many around the country I'm sure:

STANWOOD, Wash. At nursing homes where guests are barred because of the coronavirus, adult children talk to their parents through locked glass doors like jailhouse visitors. They worry it may be months before they can hug each other again. Many families are debating whether to move their frail loved ones out altogether and care for them at home.

Thousands of nursing homes and assisted-living centers across the United States are becoming islands of isolation as health care administrators take unprecedented steps to lock them down, hoping to protect some of the nation's most vulnerable residents from the threat posed by the coronavirus.

www.nytimes.com

#17 | Posted by Gal_Tuesday at 2020-03-12 12:32 PM | Reply | Newsworthy 2

Fortunately the underpinnings of the current economy are strong. The DOW is tanking because all sorts of money making events are being cancelled everywhere. Across the board extraordinary measures are being taken to minimize the spread of this nasty virus. Thanks to these measures this thing will probably pitter out within a couple of months and when it does watch for a HUGE bounce.

#18 | Posted by JeffJ at 2020-03-12 12:33 PM | Reply

#7 | POSTED BY NIXON AT 2020-03-12 08:29 AM | FLAG: My wife has a 401k and every Friday her monies are buying the funds in it at a greatly reduced share price. When the market goes back up the valuation of her investments will increase greatly. Dollar Cost Averaging at its finest.

#19 | Posted by MSgt at 2020-03-12 12:56 PM | Reply

Fortunately the underpinnings of the current economy are strong. The DOW is tanking because all sorts of money making events are being cancelled everywhere. Across the board extraordinary measures are being taken to minimize the spread of this nasty virus. Thanks to these measures this thing will probably pitter out within a couple of months and when it does watch for a HUGE bounce.

#18 | POSTED BY JEFFJ AT 2020-03-12 12:33 PM | REPLY

Old Jeff, whistling past the graveyard. The United States won't get a handle on this until we start a massive testing campaign like they've had in South Korea for almost two months. That campaign is showing real progress in slowing the spread of the virus. Drumpf's former Homeland Security Chief said that we're about ten days from the hospitals being swamped! What this pandemic has shown is the complete lack of leadership in the Drumpf regime. It has also shown exactly how much faith people have in Orange Nero, he lies so often about everything, that people don't even believe advice coming from the experts in the WH. It's becoming obvious to voters to what extent the orange narcissist in chief only cares about himself. He will not recover from this even after the country does.

I knew over a year ago that he would eventually do something to crash the markets. I could have retired three years ago, but I still enjoy my job, so plan to stick around for another four. Fortunately I moved 2/3 of my deferred comp plan to a money market type fund with a guaranteed 3.5%. The rest I've had in an S&P 500 fund. So far, I've lost $5000, but that's nothing compared to what I lost from the Bush/Republican crash and recession. The Trump/Republican crash and recession is likely going to be worse, because there are no levers for the government to pull to mitigate it. Interest rates are near zero, we are already running the largest deficit in history, what will President Biden be able to do to right the ship?

#20 | Posted by _Gunslinger_ at 2020-03-12 02:38 PM | Reply

Many of the actions needed to mitigate the rapid spreading of this virus are in opposition to those needed to keep our economy going. So there will be a recession.

#21 | Posted by visitor_ at 2020-03-12 02:40 PM | Reply

Slinger,

The virus and actions taken to mitigate its spread are what's causing the market to tank. Assuming the virus gets under control economic activity will pick back up and the markets will experience a bounce. It's not unlike the crash of '87. The federal government decided to take no action with that crash and there was a quick recovery.

#22 | Posted by JeffJ at 2020-03-12 02:43 PM | Reply

The DOW is tanking because all sorts of money making events are being cancelled everywhere.

The DJIA has very little to do with "events" like basketball games. You have no idea what you're talking about.

#23 | Posted by JOE at 2020-03-12 02:50 PM | Reply

You have no idea what you're talking about.

#23 | POSTED BY JOE

Are you suggesting that this virus is having no effect on the DOW?

#24 | Posted by JeffJ at 2020-03-12 02:51 PM | Reply

Apple
Boeing
Microsoft
UHG
Pfizer
JPMorgan

How does a cancelled NBA game cause their stock to tank?

#25 | Posted by JOE at 2020-03-12 02:51 PM | Reply

Are you suggesting that this virus is having no effect on the DOW?

Are you retarded?

You said cancelled events are what's causing the Dow to tank. I think it's much bigger than that, and indicative of an overall economic slowdown, not just "moneymaking events."

#26 | Posted by JOE at 2020-03-12 02:52 PM | Reply

My wife has a 401k and every Friday her monies are buying the funds in it at a greatly reduced share price. When the market goes back up the valuation of her investments will increase greatly. Dollar Cost Averaging at its finest.

#19 | POSTED BY MSGT

No. That's not how a 401(k) works. That's how the DOW works.

If some of those companies go under, you will lose the value of those stocks entirely.

The market will eventually recover. If a company on the DOW goes under, it gets replaced with another company to keep the DOW as an accurate measurement.

But your 401(k) can't simply replace a company. The money invested in that company is gone.

#27 | Posted by Sycophant at 2020-03-12 03:04 PM | Reply

But your 401(k) can't simply replace a company. The money invested in that company is gone.

#27 | POSTED BY SYCOPHANT AT 2020-03-12 03:04 PM | FLAG: That is why wife's 401k is in mutual funds which spread the money over a variety of companies encompassing many sectors [reason for many to own mutual funds]. Also funds covering a variety of security investments [bond fund, Treasury funds, etc]. Never place all your 'eggs' in one basket as so many, like ENRON employees, did.

Also, many companies will be down, but few, averall, will actually go 'belly-up.

#28 | Posted by MSgt at 2020-03-12 03:18 PM | Reply

You said cancelled events are what's causing the Dow to tank. I think it's much bigger than that, and indicative of an overall economic slowdown, not just "moneymaking events."

#26 | POSTED BY JOE

I said "money-making events." That is a whole slew of things, not just sporting events. Travel, tourist economies, lodging, TV ratings due to cancelled sporting events, advertising due to lower TV viewership, hospitality, etc, etc.

As people self-quarantine all sorts of economic activities slow and it's caused a huge drop in the DOW as a result.

#29 | Posted by JeffJ at 2020-03-12 03:55 PM | Reply

That is why wife's 401k is in mutual funds which spread the money over a variety of companies encompassing many sectors [reason for many to own mutual funds]. Also funds covering a variety of security investments [bond fund, Treasury funds, etc]. Never place all your 'eggs' in one basket as so many, like ENRON employees, did.
Also, many companies will be down, but few, averall, will actually go 'belly-up.

#28 | POSTED BY MSGT

That means you are still going to lose some money.

More importantly, it means if you need access to the money now because you are retiring or retired, you are screwed.

#30 | Posted by Sycophant at 2020-03-12 03:57 PM | Reply

That means you are still going to lose some money.

More importantly, it means if you need access to the money now because you are retiring or retired, you are screwed.

#30 | POSTED BY SYCOPHANT AT 2020-03-12 03:57 PM | FLAG: Many actually do not 'spend' their 401K in retirement as they chose to structure for cash flow off it. You are correct if they plan to withdraw immediately off their investments they will take a bath.

You seem to be negative on investing so I recommend you just put you monies into a bank account, CDs, Treasury notes, etc., and then you will sleep better with little worry. As for my wife and I we will continue to invest in the markets for our future as our plan is to attain cash flow fro out investments.

Just a note: Risk/Reward Ratio - What Is the Risk/Reward Ratio?
The risk/reward ratio marks the prospective reward an investor can earn, for every dollar he or she risks on an investment. Many investors use risk/reward ratios to compare the expected returns of an investment with the amount of risk they must undertake to earn these returns. Consider the following example: an investment with a risk-reward ratio of 1:7 suggests that an investor is willing to risk $1, for the prospect of earning $7. Alternatively, a risk/reward ratio of 1:3 signals that an investor should expect to invest $1, for the prospect of earning $3 on his investment.

No risk, no reward - little risk, little reward. Everyone's risk tolerance is different so each should ascertain what percent of their investment for the future should be. For some, NONE, for others 10%, 25%, etc. Personally, we have a high risk tolerance with the majority in the market, MLPs, REITs and so forth and only [approx] 10-12% in cash.

#31 | Posted by MSgt at 2020-03-12 05:48 PM | Reply

Needs to be renamed the Trump market.
Everytime he speaks, the market turns to fecal matter.

#32 | Posted by aborted_monson at 2020-03-13 05:49 AM | Reply

I like how comrade MSGT who knows nothing about the stock market and Dow, talks about his sister/wife's 401K. We know he blew all of his life savings on MAGA hats and "I'd rather be a russian than a democrat" T-shirts.

#33 | Posted by aborted_monson at 2020-03-13 05:52 AM | Reply | Funny: 1

There are other ways to save and invest for retirement. Beanie Babies for instance.

www.youtube.com

#34 | Posted by visitor_ at 2020-03-13 10:47 AM | Reply

"That means you are still going to lose some money."

I wouldn't sweat it too much. Once the market settles there will be a pretty solid opportunity to make a lot. Timing is everything.

#35 | Posted by madbomber at 2020-03-13 11:29 AM | Reply

Hell this is the market traders live for. Firms holding mutual funds and the like can pick up some serious bargains in the next few weeks. Smart money lives for panics. Ask Soros.

#36 | Posted by docnjo at 2020-03-13 12:46 PM | Reply

#36

Unfortunately, I'm not savvy enough to figure these things out for myself. But I have good friends who own this ----. I'm eagerly awaiting their call to buy.

#37 | Posted by madbomber at 2020-03-13 01:45 PM | Reply

It sure is strange how the slightest strain can make "capitalism" look a lot like the fairy tale version of socialism that "capitalists" dreamed up.

#38 | Posted by MrSilenceDogood at 2020-03-14 02:50 AM | Reply

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