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Stocks drop as Trump's lawyer quits

Discussion in 'Economy' started by Susan Addams, Mar 22, 2018.

  1. Susan Addams

    Susan Addams Unregistered User

    That's not the title of the article but that's the talk on Fox News Network as of 5 minutes ago, as I was watching the coverage.

    Here's the Fox News article on Dowd resigning. (I'll continue below.)

    I don't really know what to think about Dowd resigning, to be honest it's kind of a yawn for me. As far as saying it caused a negative day on the stock market, I think that's a bit too much of a stretch.

    If anything I think it's more likely the pending budget bill is the cause, uncertainty about the effect of the budget on the economy.

    I just have to laugh at stock market pessimism. We've had a good run. Markets sometimes need to kick back or whine a bit before they get back to work. I don't see the market condition as anything other than punctuation, ready to start the next sentence.

    It really pisses me off when know-nothing news commentators get negative and then shit-for-brains investors get scared and run like a spooked herd of cattle. It's know-nothing sheeple investors that mess up the market! Their stock drops a few points and they cry like babies and sell off.

    I just bought a small number of shares on Monday. If Amazon drops below Monday's price I might spend the rest of my cash in the account on a couple more shares. I still think Amazon will double in a bit less than 2 years from my previous prediction. Let's say I predict Amazon at/over $3,000 by end of February 2020.

    I might consider selling out if my stock goes negative on me but I'm still up 20% over my initial investment so there's a long way to fall before I get scared. I'd feel sad but it wouldn't bother me to sell at break-even and lose more than a year's salary equivalent that I could reap if I sold today.

    I've never "made" this much money before. Noting that what I have is "unrealized profits" and that I don't have anything but imaginary numbers until the day I sell.
     
  2. Susan Addams

    Susan Addams Unregistered User

    I've thought about it more and I've discussed it with my friends and I'm sorry, but I'm right and she's wrong. (The FNN commentator who thought Dowd had anything to do with the recent stock market lackluster performance.)

    One friend pointed out that tariffs could be partly to blame. I was aware of the steel and aluminum tariffs but he said no, there's more tariffs than that. I decided my friend might be right although we didn't have time to go into what those other tariffs were. (He had to get back to his business.)

    So I am blaming the stock market poor performance on budget uncertainty, and adding tariffs as another likely cause.

    I was watching Laura Ingraham on FNN tonight and she really tore into both Congress and Trump. She said neither is performing.


    This isn't really related but I don't have enough for a separate post:

    There was interesting footage of Trump at the border, Trump pointing out a many times patched border wall, Trump saying that it isn't a wall if they have to keep patching it and patching it. He said without a wall we don't have a country. I completely agree!!!

    Also covered, a discussion of burdening the Millennial generation with ever increasing debt. I'm on the border line, maybe 1 year too old to be a Millennial. The debt bothers the hell out of me too!!! We recently passed the $21 trillion mark. All I wanna know is how can you look at that and not get nervous? That's about $173K for every taxpayer and that's pretty much all of us on this forum.

    If you had $173K of Amazon stock that would be a pretty nice investment! Well if you pay taxes you have the exact opposite of that nice piece of stock just sitting on your head!

    For me that pretty much cancels my nice holding in AMZN. Fortunately I expect my AMZN to be worth twice what I paid in early 2020. At least we all know that the national debt won't be $42 trillion in 2020. But congress is sure doing all it can do to make sure they bang that clock ever higher and higher. Maybe that was why Laura Ingraham was pissed off at Congress and Trump tonight.

    U.S. National Debt Clock : Real Time
     
    Last edited: Mar 23, 2018

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