If Biden Shuts Down Economy: 4,000 Point Drop in Dow Jones

[ajacobson]

https://thehill.com/homenews/state-...00-covid-cases-for-the-first-time-since-april

 

[SunTrader]

.... Which is more important? Money or life ?

Obviously your life. Can't spend money if you are dead.

Dead men tell no tales ... or buy iPhones.

 

[ajacobson]

https://www.americanbanker.com/list/bidens-tough-choice-on-who-will-lead-treasury

I going to assume some of these names will be very difficult to confirm.

 

[tsznecki]

@bone is a supposed futures spread trader.

What does a futures spread trader care about the DOW dropping 4k?

@bone is just salty about the election results. ET sees through your bullshit.

Buy the dip. DOW 100k. #Powell4Prez

 

[Peter8519]

Obviously your life. Can't spend money if you are dead.

Dead men tell no tales ... or buy iPhones.

Indeed! Life lesson... how to trade if there is no money in the account ?

Having a life give us a fighting chance to make some money.

 

[Peter8519]

I'd have to say money is way more important.

When you do not have life, you do not know it.

When you do not have money, you know it quite acutely, "living" homeless in a box.

Money cannot resurrect a dead person.

 

[JSOP]

https://finance.yahoo.com/news/if-b...-nearly-4000-points-strategist-183358871.html

November 12, 2020
Yahoo Finance

If President-elect Biden shuts down the US economy, the Dow would drop nearly 4,000 points: strategist

The last thing bullish post-election season investors want to see is a nationwide lockdown to control the resurgent coronavirus under President-elect Joe Biden.

“3,000 or 4,000 [Dow] points lower at least,” veteran strategist David Nelson of Belpointe Asset Management told Yahoo Finance Live on the market reaction to a possible lockdown.

But that may be what investors are staring down the barrel of if COVID-19 infections and deaths continue to rise ahead of Biden assuming power in late January.

Influential COVID-19 adviser to president-elect Joe Biden Dr. Michael Osterholm told Yahoo Finance Live a four- to six-week national lockdown would be appropriate to get the pandemic under control. Osterholm contends the U.S. has a “big pool of money” to pay for lost household wages from any lockdown. The payments to households would continue as a vaccine for the deadly disease is rolled out across the country.

Explained Osterholm, “We could pay for a package right now to cover all of the wages, lost wages for individual workers, for losses to small companies, to medium-sized companies or city, state, county governments. We could do all of that. If we did that then we could lock down for 4 to 6 weeks.”

Investors haven’t taken Osterholm’s comments or the notion of a lockdown too well at all.

The Dow Jones Industrial Average plunged more than 300 points on Thursday, while the Nasdaq Composite and S&P 500 remained sharply lower. Investors booked post-election profits in cyclical and value stocks. In turn, they plowed back into stay-at-home stocks such as Zoom, Snap and Slack.

“The markets wouldn’t like that [the lockdown]. I don’t think the markets are pricing that in at all. This is not new from the Democratic side of the aisle,” added Nelson.

Well there is the volatility that everybody wanted...

 

[JSOP]

Just as Trump found out, POTUS does not have the authority to shut down the nation. It is up to the states to make their own call.

Yeah but it's different when it's a "Liberal" POTUS-elect. I am sure they are going to find some loophole somewhere somehow to give him now the authority.

 

[Sig]

I have no argument with your health premise. None.

The problem here in the United States is that State and Federal legislators make laws, not Presidents and Governors.
We have a separation of powers structure in our democracy and that is established in our Constitution.

If Joe Biden wants to lock down the US economy and suspend certain Constitutional Rights he should ask the Congress to make appropriate law.

I am saddened, not by your position on state and federal powers which I believe is long held and sincere, but your decisions on when it was worth asserting those positions as important. Where were you in April when Trump on this very issue of what the federal government could compel states to do regarding COVID said "When somebody’s president of the United States, the authority is total. And that’s the way it’s got to to be. It's total. It’s total. And the governors know that."
"They will agree to it, but the authority of the president of the United States, having to do with the subject we’re talking about, is total.”

These were Trump's actual words, not speculation about something Biden hasn't yet even said he was planning to do. Why didn't you make a similar post then? I mean the guy couldn't have been more clearly pissing on everything you believe in on this very topic in a way that was far more egregious than anything Biden has done so far, and I know you didn't agree with it, but I certainly don't remember you speaking up about it? Why is it now worth bringing up but wasn't then? The complicity on the part of decent conservatives who might have disagreed but withheld comment when Trump did all these things, but now are happy to re-engage when its the other party, is deeply disturbing to my outlook on the future of the Republic.

 

[CET]

Biden can't do anything until inaugurated. He has not spoken yet, because he has not been told what to say. So far it is his virus task force members talking about a shutdown. I expect states will do their own thing regardless of what the feds say.