Stay in reality and keep your feet on the ground ( Archived) (10)

a free thinker thumbs up their own comments

oh snap. a .. think that charges''''''' they thumb down.


so. are you free or do you charge

i wonder why the stock market crashed like it did? corona panic, the price of oil went down ( don't really get that one), or the market was way over priced and the tax cut for the rich during surging employment was idiotic ?

Leecharming I give you a big thumbs up with that. Some greedy panic buyers around.

We do need feet on the ground and to get rid of this panic.

Cs needs a cheering up blog as I reckon the more of us getting a lock down we will visit here more often. The doom and gloom we do not need. stay safe.

Yes the Corona virus.
When people are asked (some forced) to stay at home to avoid spreading the virus , businesses shut down. If no one is producing a capital market will correct itself, in this case downward. There's also panic selling: Get out now and buy again on the rebound and double our money.

Since Obama got rid of the Glass/Steagal Act (in place since 1933)
The term Glass–Steagall Act, however, is most often used to refer to four provisions of the Banking Act of 1933 that limited commercial bank securities activities and affiliations between commercial banks and securities firms ( Security Firms = MARKET SPECULATORS)

The price of oil is down because Putin is undermining Saudi and American production by flooding the market.
Oil is Russia's #1 asset on the world market. Also Russia knows that fracking oil is expensive and not worth the trouble if oil gets too cheap, thereby wrecking this U.S industry and causing massive lay offs.

Corporations GOT THE TAX BREAK. Corporations are owned by shareholders like you and me. (Yes rich people own more shares but that's besides the point).
Corporations held billions of dollars in foreign banks as the previous GOVERNMENTAL administration would tax that money at high rate 35% should it come back, therefore those corporations left those BILLIONS to sit idly by in a foreign bank NOT benefitting the American people.
Worse yet, foreign governments were using that money to BOLSTER THEIR CURRENCIES (that in some cases were worthless) or purchase REAL assets and weapons of war.
When Trump nixed the high tax rate (which you erroneously describe as a 'tax cut for the rich') that money came flooding back to the U.S. coffers creating the best boom in the U.S. economy since WW2.

All this is really geo-politics 101. Where have you been for the past 10 years?