03-17-2020, 06:06 PM
(03-17-2020, 02:42 PM)pbrower2a Wrote: The eleven-year bull market was going to end, and market speculation that got the DJIA to nearly 30K was the last act. The market was already sliding as news of COVID-19 started to appear. AIDS did not have that effect.
Any bull market fosters bad habits such as short-term borrowing for long-term projects, under-reliance upon bonds for financing, inadequate savings, and over-payment to executives while workers get the shaft. Were it not for COVID-19, then something else would have triggered a downturn.
Possibly not this soon. The Republican habit of using voodoo economics, of using debt to stimulate in good times and bad, usually lasts well past the first term in the White House before the economy gets ugly. The virus seems to have caused the crash much sooner.
That this nation, under God, shall have a new birth of freedom, and that government of the people, by the people, for the people shall not perish from the earth.