stock market plunge

It pains me to say it, but the broad point Hannity made wasn't wrong. Blaming it on Obama was, but the point in general was correct.

But I think we can all agree Obama's role in the Dow plunging--while terrible--was nothing compared to his ham-fisted response to Hurricane Katrina.

Oh, I don't think he's so much getting out of the way as he is stumbling about, generally smashing into things but occasionally lucking out and landing in a chair.

I cannot watch this president in action and think he has anything like a coherent plan -- certainly not for more than ten seconds together, since he seems to change his mind with every person who manages to grab his ear and has no problem contradicting himself in two consecutive sentences.

Someone on Twitter described his brain as six angry bees buzzing madly about in his skull. The image works for me -- though, as Opty has shown us, bees are actually quite a bit more intelligent and infinitely more patient and cooperative.


But yeah, the market is still overvalued, and if this doesn't turn into our big correction (volatility and big swings won't surprise me), it's coming, and soon.

And yes, the parties and the media always do claim credit for the market. And yes, to some degree Presidents boast of it, too. But I don't recall any of them claiming credit to quite the same degree and quite so often as Trump does. He claims he inherited a shitty situation on the edge of disaster and made things boom -- neither assertion is true. And then too -- it's just astonishing to me the degree to which he claims credit for everything that looks good, and when it turns on him, it is always, always, always, someone else's fault. And his defenders back him up every step of the way.

I almost hate arguing (as I must) that the big dip wasn't all Trump's fault -- because he and his supporters will absolutely take those arguments as "Yeah! not his fault! It's Hillary's emails! (or whatever)!" but not be the least abashed about continuing to smugly brag when the market goes up that it's all due to Trump's brilliance. And that's why I DON'T mind enjoying, just a little bit, that the damn market plunged. At least I get the dreary fun of watching Trumpites scramble for excuses.

To some extent, this happens in other administrations, sure. But here, it's like someone turned the dial way the hell up from background noise to unbearable.

23k will be the hard support. The markets will continue to bounce like a rubber band until all the hedge fund managers extract themselves from the VIX and similar funds or go belly up.

It will be hard for even the massive short sell-offs to drive the market below that point since there is nothing fundamentally wrong with the market or the companies behind the stocks.

Well, Trump did take credit for the soaring market. What better opportunity for Soros and his cronies to damage Trump's reputation than by tanking the market? So this billionaire gets together with a few of his cronies and orchestrates a dazzling sell off that sends the volatility index soaring. This causes the inverse volatility index the crash. As this had become a favorite place for hedge fund managers to "hedge" their potential losses, this resulted in massive losses among hedge funds. They had to sell off equities to remain solvent, leading to further panic selling. The result: a fixed market crash orchestrated by elements of the globalist left all in the hopes of derailing Trump's credibility.

Good enough?