PartyBear said:
The stock market started crashing around the first of March. It didnt just drop from 29000 to 20000 or less this week.
BTW y'all need to make up your minds is this just the regular annual flu and flu season or the biggest crisis of world history. Y'all are going back and forth between the extremes depending on the thread and which spin helps Trump the most.
I don't give sht about Trump. I didn't vote for him 2016 and I won't in 2020 either. What I do care about is intellectual honesty, which you have very little (along with several people on the right including Florida Mike. So don't play a victim that I'm singling you out).
With that said, the stock market wasn't crashing before the virus. There were some up and down days, but it didn't crash. The long-term outlook was for the stock market to recover or at least remain relatively steady for the remainder of the year.
That changed when people started freaking out. The stock market is emotional. And just as some of you are emotional little btches, so is the stock market. So when everyone started freaking out, toilet paper started running out, NCAA tournaments were being cancelled and Tom Hanks went public that he had contracted the virus, the sht hit the fan.
With that said, the virus itself is still not that bad. It spreads easily and a lot of people will contract the virus, but it isn't as bad as the panic. The response to the virus far outweighs the severity of the threat from the virus. And because of that, we will have a shtty 2020 and this could easily send economic shock waves into 2021 and 2022.
Does that mean I don't care about loss of life? Of course not, I care about human life a lot. But we have never taken such extreme steps to save the lives of so few, especially in high-risk groups. The precedent this sets is terrifying beyond belief and my hope is that it's just because it is an election year and a lot of people hate Trump. Honestly, that's the best case scenario because if he loses in 2020, this likely won't be repeated. However, if this isn't just TDS and this is the new normal, I'm terrified to think how the world will react the next time we have a bad flu season that leads to the worldwide death of 50K-100K more than normal, because apparently that is new time to react like this and shut down the world economy. And the worldwide deaths will be significantly less from COVID-19.
On the plus side, if this is the new normal, this will provide annual, predictable fluctuations in the world economy that can be taken advantage of by savvy investors.