Dow Dives 1,900 Points, NYSE Halts Trading As Stock Indexes Plummet

(THIS ARTICLE IS COURTESY OF NPR NEWS)

 

Dow Dives 1,900 Points, NYSE Halts Trading As Stock Indexes Plummet

A trader reacts on the floor of the New York Stock Exchange on Monday. Major U.S. stock indexes plunged 7% before trading was temporarily halted.

Richard Drew/AP

Updated at 10:52 a.m. ET

Trading on the New York Stock Exchange was halted temporarily Monday after indexes plunged 7% in reaction to Saudi Arabia’s shocking oil-price cut. The financial market chaos comes amid increasing worries that the coronavirus epidemic will plunge the global economy into recession.

In early trading, the Dow Jones Industrial Average was down more than 1,900 points — more than 19% off its February peak. Stocks also fell sharply in Asia and Europe.

Later in the morning, the U.S. indexes recovered somewhat, with the Dow down nearly 1,600. Both the Dow and the S&P 500 were down about 6%.

The price of oil also fell — down 21% Monday following the unexpected Saudi move.

As investors fled stocks and sought relative safety in government bonds, the yield on the benchmark 10-year Treasury note fell below 0.4% overnight before climbing above 0.5% Monday morning.

Over the weekend, Saudi Arabia announced a stunning discount in oil prices — of $6 to $8 per barrel — and a boost in production.

The move was a dramatic reversal from a few days earlier. Late last week, talks between OPEC and Russia collapsed after weeks of negotiations. The kingdom had tried but failed to get Russia to agree with OPEC to cut production in order to keep prices from falling in reaction to economic worries about the coronavirus.

The oil price war comes amid increasing fears that the coronavirus will hit the global economy hard as factories shut down, travel plans are cancelled and spending grinds to a halt. In Italy’s industrial region, 16 million people are under quarantine as the country fights to control the coronavirus outbreak there.

Worldwide, there are more than 110,000 cases of the COVID-19 virus, including more than 7,000 each in South Korea, Italy and Iran, according to a dashboard created by the Johns Hopkins Whiting School of Engineering.

Stock Market: 5 Reasons There Will Be 0% Earnings In 2020, Only 1 Is The Coronavirus

(THIS ARTICLE IS COURTESY OF ‘MARKET WATCH’)

 

The U.S. stock-market rally has unraveled, with a period of historic gains coming to a screeching halt, as fear that the coronavirus epidemic may reach America rattles Wall Street.

The Dow Jones Industrial Average DJIA, -4.42% fell into correction on Thursday, widely defined as a drop of at least 10%, but no more than 20%, from a recent peak. The S&P 500 index and the Nasdaq Composite indexes all joined the blue chips in correction territory.

However, it is the speed at which the indexes fell into these conditions that has surprised investors and some experts on Wall Street. It was the fastest decline into correction for the Dow, 10 sessions, since the nine-session slump into correction on Feb. 8, 2018.

Corrections from a Record Close
Record Close Enters Correction Date Trading days
Nov. 3, 1919 Nov. 12, 1919 7
Nov. 28, 1928 Dec. 8, 1928 8
Jan. 26, 2018 Feb. 8, 2018 9
Feb. 12, 2020 Feb. 27, 2020 10
Sept. 23, 1955 Oct. 11, 1955 12

For both the S&P 500 SPX, -4.42% and the Nasdaq COMP, -4.61%, it was the fastest retreat on record from a record high, six sessions ago, to correction.

Thursday’s declines also put all three equity indexes on pace for their worst weeks since the 2008 financial crisis.

Here’s are 5 reasons that the market is falling:

COVID-19 infects confidence

Fear of the COVID-19 disease infecting the U.S. is intensifying. The illness derived from the novel coronavirus, SARS-COV-2, which originated in Wuhan, China, late last year, is starting to affect global trade and travel and taking a bite out of confidence about earnings and economic growth.

Seven days ago, Goldman Sachs chief global equity strategist Peter Oppenheimer told clients that “in the nearer term…we believe the greater risk is that the impact of the coronavirus on earnings may well be underestimated in current stock prices, suggesting that the risks of a correction are high.”

Goldman made a similar call on Thursday, this time from strategist David Kostin, saying there would be no earnings growth in 2020.

Risks have intensified since Dr. Nancy Messonnier, director of the National Center for Immunization and Respiratory Diseases at the Centers for Disease Control and Prevention, said on Tuesday that “the disruption of daily life might be severe.”

President Donald Trump’s coronavirus news conference on Wednesday failed to provide investors with much comfort, mostly because it is difficult to predict how the virus will play out here and elsewhere.

The World Health Organization hasn’t declared the viral infection a pandemic, but the disease, from the family of viruses known as SARS, or severe acute respiratory syndrome, has sickened people in China, South Korea, Japan, Malaysia, Italy and Iran. And according to Reuters, Austria, Spain, Croatia and Switzerland have also confirmed their first cases.

The virus has virtually crippled swaths of manufacturing in China, the world’s second-largest economy, and the country is a big buyer of products and services from other countries. U.S. technology companies such as Apple Inc. AAPL, -3.79% depend on Chinese supplies.

At last check, COVID-19 has sickened 82,550 people, and claimed 2,810 lives.

Read: Why a ‘supply shock’ is biggest stock-market worry as viral outbreak continues

Investors don’t know how long the outbreak will last, and it is too early to determine to what degree it will hurt corporate earnings, but a number of companies, including Hasbro Inc. HAS, -3.62%HP Inc. HPQ, -5.71% and Mastercard Inc. MA, -4.14%, have already said that they think it will.

Check out: What Apple, Microsoft, Nike and other U.S. companies are saying about the coronavirus outbreak

Also readConsumer-facing companies will be the first hit if the coronavirus spreads across the U.S.

Related: Here’s how the 30 Dow industrials companies are prepping for the impact of the coronavirus

The 2020 election

Uncertainty about the U.S. presidential election’s outcome is also starting to drive markets, strategists and analysts argue. A number of them think that if Sen. Bernie Sanders, an independent from Vermont who characterizes himself as a democratic socialist, wins the Democratic presidential nomination, and possibly even the presidency, stocks would take a hit as he is perceived by some as an antibusiness candidate. “The risk to U.S. stocks is pretty significant if Bernie gets the nomination,” said Ed Moya, a senior market analyst with Oanda.

Lofty valuations

Even before the market slump this week, the value of stocks has been viewed as rich.

One measure of stock-market values showed that the S&P 500 index was trading at 18.9 times the weighted aggregate consensus forward earnings estimate among analysts polled by MarketWatch. That is up from 16.2 a year ago, and, aside from a brief point early in 2018, it is the highest forward price-to-earnings ratio for the benchmark index since May 2002.

The bond market

Government bonds yields have been sliding steadily as investors seek havens, and thus drive up bond prices, amid doubts about global economic growth in the wake of the coronavirus outbreak.

The 10-year Treasury note yield TMUBMUSD10Y, -6.80% fell to a record low below 1.24% on Thursday at one point.

Recession fears

Bond investors fear that the coronavirus might result in a global economic slowdown that might wash up on U.S. shores as a full-fledged recession. MarketWatch economics writer Rex Nutting explained the potential for an uncontained outbreak of COVID-19 this way: “Much of the immediate economic impact of a pandemic can be traced to the efforts to contain it, rather than from the effects of the disease itself. As we attempt to quarantine those who might spread the disease, we shut down a lot of economic activity.”

Congressional Budget Office study found that a pandemic “could produce a short-run impact on the worldwide economy similar in depth and duration to that of an average postwar recession in the United States.”

Mark DeCambre is MarketWatch’s markets editor. He is based in New York. Follow him on Twitter @mdecambre.

WE WANT TOHEAR FROM YOU

Join the conversation

COMMENT

Shanghai stocks notch fifth straight week of wins

(THIS ARTICLE IS COURTESY OF THE SHANGHAI CHINA NEWS AGENCY ‘SHINE’)

 

Shanghai stocks notch fifth straight week of wins

Huang Yixuan

Shanghai stocks retreated slightly on Friday, but still managed to close out a fifth consecutive week in positive territory.

The benchmark Shanghai Composite Index edged down 0.05 percent to 3,083.79 points, and the blue chip CSI300 Index closed 0.18 percent lower at 4,144.96 points. The smaller Shenzhen Component Index, however, rose 0.17 percent to 10,656.41 points, while the ChiNext Composite Index advanced by 0.18 percent to 1,832.74 points.

Turnover on the two major bourses totaled 695.4 billion yuan (US$99.8 billion), 56.1 billion yuan less than the previous session. Overseas capital continued to flow into the Chinese mainland market via the Stock Connect schemes, posting a net influx of 3.36 billion yuan by the close of trading.

Liquor shares were among the big decliners. Leading firm Kweichow Moutai extended its recent slump, falling by 4.55 percent to its lowest level since mid-September, as revenue and net profit growth in 2019 fell short of expectations.

Anhui Gujing Distillery Co fell 3.01 percent, while Anhui Kouzi Distillery Co shed 2.46 percent.

Home appliance firms were also among the losers, with Haier Smart Home Co closing 3.92 percent lower and Midea Group Co down 2.49 percent.

Real estate companies, transportation shares, and the catering and tourism sector also posted declines, while media firms, computer companies and the communication industry performed well.

On the STAR Market, 45 of the total 70 listed companies gained on the day.

For the week, the Shanghai Composite Index was up 2.63 percent, extending its rally to a fifth week in a row. Total turnover also expanded to 1.11 trillion yuan compared with last week’s 1.03 trillion yuan.

Saudi Aramco Tops $2 Trillion Value in Day 2 of Trading

(THIS ARTICLE IS COURTESY OF THE SAUDI NEWS AGENCY ASHARQ AL-AWSAT)

 

Saudi Aramco Tops $2 Trillion Value in Day 2 of Trading

Thursday, 12 December, 2019 – 11:30
Saudi Arabia’s state-owned oil company Saudi Armco and stock market officials celebrate during the official ceremony marking the debut of Aramco’s initial public offering (IPO) on the Riyadh’s stock market in Riyadh, Saudi Arabia, Wednesday, Dec. 11, 2019. (AP Photo/Amr Nabil)
Riyadh- Asharq Al-Awsat
Saudi Aramco achieved the $2 trillion valuation sought by Saudi leader Crown Prince Mohammed bin Salman on Thursday as the newly-listed state-owned oil company’s shares rose sharply on their second day of trading.

Shares jumped in trading to reach up to 38.60 Saudi riyals, or $10.29 before noon, three hours before trading closes.

Aramco has sold a 1.5% share to mostly Saudi investors and local Saudi and Gulf-based funds.

With gains made from just two days of trading, Aramco sits comfortably ahead of the world’s largest companies, including Apple, the second-largest company in the world valued at $1.19 trillion.

MbS is the architect of the effort to list Aramco, touting it as a way to raise capital for the kingdom´s sovereign wealth fund, which would then develop new cities and lucrative projects across the country that create jobs for young Saudis.

He had sought a $2 trillion valuation for Aramco when he first announced in 2015 plans to sell a sliver of the state-owned company.

International investors, however, thought the price was too high, given the relatively lower price of oil, climate change concerns and geopolitical risks associated with Aramco. The company’s main crude oil processing facility and another site were targeted by missiles and drones in September, knocking out more than half of Saudi production for some time. The kingdom and the US have blamed the attack on rival Iran, which denies involvement.

In the lead-up to the flotation, there had been a strong push for Saudis, including princes and businessmen, to contribute to what´s seen locally as a moment of national pride, and even duty. Gulf-based funds from allied countries also contributed to the IPO, though it has largely been propelled by Saudi capital.

At a ceremony Wednesday for the start of trading, Aramco Chairman Yasir Al-Rumayyan, described the sale as “a proud and historic moment for Saudi Aramco and our majority shareholder, the kingdom.”

China: 2020 launch for Shanghai-Deutsche Stock Connect

(THIS ARTICLE IS COURTESY OF THE SHANGHAI CHINA NEWS AGENCY ‘SHINE’)

 

2020 launch for Shanghai-Deutsche Stock Connect

Preparations for a Shanghai-Deutsche Stock Connect program is well under way.

The new scheme linking the Shanghai and Frankfurt stock exchanges will be launched in 2020 with the China Europe International Exchange (CEINEX) currently in charge of its establishment.

The scheme will promote German listed blue-chip companies to issue Chinese depositary receipts on the Shanghai Stock Exchange, and support certain qualified Chinese listed companies, especially those in the manufacturing sector, to issue global depositary receipts on the Frankfurt bourse in order to strengthen the interconnection between Chinese and German stock markets, according to CEINEX.

“In the next step, through the issuance of depository receipts, CEINEX will make efforts to build closer links between the capital markets and the real economy in China and Germany,” Chen Han, Co-Chief Executive Officer of CEINEX.

The CEINEX is a joint venture established in 2015 by the Shanghai Stock Exchange, Deutsche Börse Group, and China Financial Futures Exchange. It is the first dedicated trading venue for investment products related to China and the yuan outside the Chinese mainland.

The stock connect program, which first launched five years ago with a pilot project linking Shanghai with Hong Kong, has been a success in China’s progress in opening up the mainland’s equity market to overseas capital.

The program has led to sustained growth in two-way capital flow, as it enabled offshore capital to invest in the mainland market and also give a way for Chinese investors to reach overseas markets.

Data showed that by the end of October, the total cumulative northbound (to the mainland) trading turnover on stock connect was 17.41 trillion yuan (about US$2.48 trillion), bringing net capital inflows of 860 billion yuan into the A-share market.

Meanwhile, total cumulative southbound (to Hong Kong) trading turnover reached HK$8.75 trillion (about US$1.12 trillion) over the past five years, bringing net capital inflows of HK$987 billion into the Hong Kong market, according to Hong Kong Exchanges and Clearing.

Total Trade Stoppage With China Could Be A Good Thing For American Workers

Total Trade Stoppage With China Could Be A Good Thing For American Workers

 

I know that many people here in the U.S. will in the short term be hit financially if this ‘trade war’ with China continues. The American companies on the U.S. Stock Market has taken a hit with these tariffs the White House is talking about, I know this is hurting some American businesses like WalMart who import a huge amount from China, so be it, they need to be hurt, badly.  There is a reason for my view, I just hope you can see what I am talking about.

 

American businesses need to be hurt because of their treason toward the American Nation and her people. How many thousands of businesses have been shuttered because of companies like WalMart who for a penny or two lower price per product will buy from other countries like China (whose Leaders hate us) instead of buying from U.S. Companies who have their factories here in the U.S. giving jobs to American workers. Companies like WalMart cater to low income people yet how many of these people are poor because of these companies ‘buy foreign first’ business practices? The rich, especially the super rich like to complain about the poor as people who suck away their profits and produce nothing and how they say the poor don’t pay their fair share. If an owner of a company moves their operation out of the States thus firing all their American workers it should be the Companies Leadership who should be punished, not the workers. These companies should have to pay a tariff of about 90% on all goods they import back to the American market. Make it not worth their bottom line to close American factories and fire their American workers. In the business world everything is always about profits, the money that goes to the top is the only thing that has mattered for decades not. Most businesses and government officials should be charged with treason against the the American Flag and Her people, not profit from their demise that they themselves are causing! Rebuild America’s factories and infrastructure now, create jobs for American workers first. Our exports like grain and soy beans can easily be sold to other world markets. There is no logic besides greed that dictates us selling anything to or importing anything from other countries like China whom is trying to wipe us out. But then again, these words to you today are just the opinions of an old poet.

Why Cohen could get worse for Trump: Prosecutors say they’ve got receipts

(THIS ARTICLE IS COURTESY OF NBC NEWS)

 

Why Cohen could get worse for Trump: Prosecutors say they’ve got receipts

First Read is your briefing from “Meet the Press” and the NBC Political Unit on the day’s most important political stories and why they matter.
by Chuck Todd, Mark Murray and Carrie Dann / 

WASHINGTON — When it comes to Michael Cohen’s claim that he was directed by an unnamed candidate in 2016 — Donald Trump — to make payments to Stormy Daniels and Karen McDougal to influence the 2016 election, there’s something important to remember.

Prosecutors say they have audio recordings, text messages and phone records about Cohen’s payments — and the intent behind them.

As NBC’s Tom Winter has highlighted, here are the prosecutors from Tuesday:

The proof on these [campaign-finance] counts at trial would establish that these payments were made in order to ensure that each recipient of the payments did not publicize their stories of alleged affairs with the candidate. This evidence would include:

Records obtained from an April 9, 2018 series of search warrants on Mr. Cohen’s premises, including hard copy documents, seized electronic devices, and audio records made by Mr. Cohen.

We would also offer text messages, messages sent over encrypted applications, phone records, and emails.

So, lordy, there are tapes. And emails. And phone records. Of course, we already know of one tape — of Cohen apparently talking about one of the payments to Trump — which CNN reported on last month.

In his interview with Fox News, Trump was asked about Cohen’s payments to Daniels and McDougal.

FOX NEWS: Did you direct him to make these payments?

TRUMP: He made the deal. He made the deals. By the way, he pled to two counts which aren’t a crime which nobody understands. I watched a number of shows, sometimes you get some pretty good information by watching shows, those two counts aren’t even a crime. They weren’t campaign finance.

FOX NEWS: Did you know about the payments?

TRUMP: Later on I knew. Later on. But you have to understand, Ainsley, what he did – and they weren’t taken out of campaign finance. That’s a big thing. That’s a much bigger thing. Did they come out of the campaign. They didn’t come out of the campaign. They came from me.

Let’s repeat those last two sentences: “They didn’t come out of the campaign. They came from me.” That is PRECISELY the allegation of illegal activity here — funds intended for a campaign are SUPPOSED to come from the campaign, not from another source.

THE OTHER IMPORTANT ANGLE IN THE TRUMP-COHEN STORY: THE NATIONAL ENQUIRER

Meanwhile, the Washington Post writes about the other angle here. “According to the documents, [David] Pecker assured Cohen that he would help deal with rumors related to Trump’s relationships with women by essentially turning his tabloid operation into a research arm of the Trump campaign, identifying potentially damaging stories and, when necessary, buying the silence of the women who wanted to tell them.”

“The charging documents allege that Pecker and his company, American Media Inc., owner of the National Enquirer, were more deeply and deliberately involved in the effort to help the Trump campaign than was previously known. AMI also played a key role in the effort to silence adult-film star Stormy Daniels, prosecutors allege. Pecker and AMI did not respond to requests for comment Wednesday. Nor did Cohen or his attorney.”

TRUMP’S STRANGE SOUTH AFRICA TWEET

Late last night, President Trump fired off this tweet: “I have asked Secretary of State @SecPompeo to closely study the South Africa land and farm seizures and expropriations and the large scale killing of farmers. ‘South African Government is now seizing land from white farmers.’ @TuckerCarlson @FoxNews.”

The government of South Africa responded, “South Africa totally rejects this narrow perception which only seeks to divide our nation and reminds us of our colonial past. #landexpropriation @realDonaldTrump @PresidencyZA.”

“Land reform is a highly divisive issue in South Africa, where white residents, who make up 8 percent of the population, own 72 percent of land, according to official figures,” the New York Times writes. “While there have been some land grabs by private groups — not sanctioned by the government — some right-wing groups have been pushing the false narrative that there have been numerous seizures of white-owned farms and killings of white farmers. In fact, research by one farmers’ organization, published in July, found that the number of killings of farmers was at a 20-year low.”

JUROR WHO SUPPORTS TRUMP TELLS FOX NEWS THAT MANAFORT WAS GUILTY

“Special Counsel Robert Mueller’s team was one holdout juror away from winning a conviction against Paul Manafort on all 18 counts of bank and tax fraud, juror Paula Duncan told Fox News in an exclusive interview Wednesday,” Fox reports. “‘It was one person who kept the verdict from being guilty on all 18 counts,’ Duncan, 52, said.”

“‘Finding Mr. Manafort guilty was hard for me. I wanted him to be innocent, I really wanted him to be innocent, but he wasn’t,’ Duncan said. ‘That’s the part of a juror, you have to have due diligence and deliberate and look at the evidence and come up with an informed and intelligent decision, which I did.’”

And: “‘Every day when I drove, I had my Make America Great Again hat in the backseat,’ said Duncan, who said she plans to vote for Trump again in 2020. ‘Just as a reminder.’”

NBC/MARIST POLL: O’ROURKE TRAILS CRUZ IN TEXAS BY JUST 4 POINTS

“As Texas Democrats attempt to win a major statewide contest for the first time in almost three decades, a new NBC News/Marist poll finds Democrat Beto O’Rourke trailing Republican Sen. Ted Cruz by just 4 percentage points,” one of us writes. “O’Rourke, a congressman from El Paso who has ignited Democratic hopes with his impressive fundraising, has 45 percent support among registered voters compared with Cruz’s 49 percent. Six percent of voters remain undecided.”

And this is key when looking at the competitive congressional races in TX-7 (Houston area), TX-23 (Austin-San Antonio area) and TX-32 (Dallas area): “Cruz has majority support by about a 2-1 margin in both the more rural eastern and western parts of the state. But O’Rourke is holding steady with Cruz in Dallas/Fort Worth (both at 48 percent) and besting him in Houston (51 percent to 42 percent).”

Also, “O’Rourke’s relative strength against Cruz … is in contrast to Republican Gov. Greg Abbott’s whopping 19 point lead over Democratic challenger Lupe Valdez.”

By the way, there’s one more state poll we’ll be releasing later today…

Dow Drops 666 Points In Sharp Sell-Off

(THIS ARTICLE IS COURTESY OF NPR)

(THIS ARTICLE SHOWS JUST HOW SICKENING THE STOCK MARKET WORLD AND THE RICH AND SUPER RICH ARE. THIS TUMBLE IS BECAUSE HOURLY WAGE EARNERS WAGES WENT UP 2.9% LAST YEAR. IF THESE SAME PEOPLE ONLY RECEIVED THE SAME 2.9% INCREASE IN THEIR OWN WEALTH LAST YEAR THEY WOULD BE WHINING AND THINKING THE SKY WAS FALLING. SIMPLY PUT, THE STOCK MARKET IS ANTI WORKERS-PERIOD, WHAT HAPPENED TODAY IS SIMPLY PROOF OF THIS FRAUD ON THE WORKING CLASS OF THE WHOLE WORLD.(TRS))

Dow Drops 666 Points In Sharp Sell-Off

Traders at the New York Stock Exchange on Friday. The Dow Jones industrial average fell 666 points amid signs that interest rates are heading higher.

Drew Angerer/Getty Images

Updated at 4:45 p.m. ET

Major stock indexes dropped sharply Friday, with the Dow Jones industrial average tumbling 666 points amid signs that wage growth is finally picking up.

The 2.6-percent drop in the Dow came as the Labor Department reported 200,000 jobs were added to the economy last month, which was stronger than expected, and the unemployment rate stayed at 4.1 percent — the lowest since 2000.

But worries about inflation grew when the report showed that average hourly wages grew 2.9 percent from a year ago — the largest increase since June 2009. Yields for 10-year Treasurys hit four-year highs Friday.

All this sets the stage for the Federal Reserve to continue raising interest rates, with the next hike expected in March. It sets the stage to make credit cards, car loans and mortgages more expensive.

The Dow closed at 25,520.96, and Friday’s 666-point drop was the sixth-worst ever. The index is still up more than 3 percent since the year began. But with a loss about 1,000 points since Monday, it was the blue chip index’s worst weekly performance in 2 years.

Other major indexes fell about 2 percent Friday. The broader S&P 500 slid 60 points, to 2,762.13; the Nasdaq index lost 145 points, closing at 7,240.95.

Carl Tannenbaum, chief economist at Northern Trust, says Friday’s employment report shows the economy continues to have a lot of energy.

The higher wage growth and potentially higher inflation “might then lead the Federal Reserve to raise their interest rates more rapidly than the market is comfortable with,” he told NPR’s John Ydstie.

NPR’s Jim Zarroli reports: “Now, investors are starting to think, maybe things are moving too fast. The government has cut taxes and it’s borrowing more — maybe we’re going to see inflation.”

But, he says, “The stock market was really due to come down somewhat. We have these corrections. They’re normal. Stock prices can’t keep rising at these levels.”

Republican Christians: Quit Being Hypocrites, Put Up, Or Shut Up

 

I use the name Truth Troubles for this Blog Site for a reason, it is because in many cases the ‘truth’ can be inconvenient for our ego’s. Politicians are great at telling people they are speaking the truth on a subject matter when in fact only about 1% of what they are saying is actually the truth. You see, that is speaking the truth, they just don’t tell you about the 99% BS that goes along with their version. When you step on the witness stand in a court room you are told to tell the truth, the whole truth, and nothing but the truth so help you God. Folks, that, is the only truth, God’s truth, not some version or percent of it.

 

In November of 2016 ‘we the people’ mainly had two horrible habitual liars to choose as our President, which one was the worse for our Country, that is debatable. Weather the Democratic Party or the Republican Party is the most evil is also easily debatable, personally I have no faith in either of them to ever be truthful with the American people. The Democratic Party and their platform of supporting abortion at will make it impossible for many Christians to vote for a Democrat knowing that they will endorse this policy. Yet this article today isn’t about the Christians who vote for Democrats, today, this article is about the Republican Party and their own ‘unholy’ policies.

 

I say unholy policies because of their own ‘platform’ issues. This newest Republican Tax Plan is a good example of the cold-hearted nature of their base beliefs. This Bill is 1,997 pages long, the reason is simple, there are many items other than changing the Tax Code in that Bill. If it were just a simply straight forward Tax Code Bill how many pages would it be? Really, think about it, should it be more than 2 pages, 5, or maybe 10? How about even 100 pages, you can put a lot of words in 100 pages. In this bill are items like not reimbursing teachers for the supplies they have to buy out of their own pockets so their classrooms can have the basic supplies they need. Also items like stopping assistance to the ‘Meals on Wheels’ program which helps feed the poorest of the poor ‘shut in’s’. Also stopping all the funding for PBS. Stopping many of the Federal Grants for poor kids to help them go to College thus also massively hurting thousands of Colleges and Universities. In this Bill is also massive cuts to Medicaid and Medicare which will cause many millions of Americas poorest people to lose their only Insurance. This will also cause many small hospitals around the Nation to have to close as people will again be having to go to their E.R. services when they get sick or injured and when these people can not pay their bills, the Hospitals will go out of business.

 

The Lord tells us all to be kind and charitable, giving and loving. The Republican Party very plainly caters only to the wealthiest 10% or so of our population. Think about this one fact for a moment please, I was born back in the mid 1950’s, in my lifetime there has not been one single minimum wage increase when there has been a Republican in the White House, not one. Trickle down economics does not work folks. It is like saying that the richest folks will be gracious and allow some of the crumbs to be swept onto the floor so the poor don’t starve to death. And the only reason they allow the crumbs is because the working class is the ones who make the products that make the rich, richer. If the people starve to death it might hurt their profit margins. If you think I am being to hard on some folks just think about the Stock Market for a moment. President Trump likes to talk about how well the Market is doing and that is a good thing folks, but the trouble is that it is a horrible thing for the people who can’t afford massive amounts of those Stocks. When a company lays off hundreds or thousands of employees their Stock value goes up right away. When a company moves out of the U.S. to a ‘Third World’ country for cheaper labor costs, their Stock value goes up right away. When Wal-Mart and Target recently gave all of their employees a raise, their Stock value went down right away.

 

Most of us know that many of the largest American companies are flooded in cash right now and that this cash is sitting in offshore banks. This is not illegal if they have followed all of the existing laws in their putting it there, in fact that is quite smart of them. If the CEO’s weren’t taking advantage of these loopholes their stock holders would vote them out of a job. I have heard several times on different news programs where Executives have commented that they have no place to invest this money so they are just hanging onto it as they are looking for better ‘deals’. So, this talk about caring about the wages and living conditions of the working class is really just a bunch of BS. If these companies were paying better wages and benefits to their workers then the whole economy would prosper. If the government actually raised the taxes on the major companies and closed off all of their built-in loop holes then the Nation could invest in our Nations roads, bridges, city infrastructures, education system and health care system.

 

The Democratic Party has lots of its own sins but as I said this article today is about some of the sins of the Republican Party and the Christians who keep putting their ‘Name, their stamp of approval’ to them. If you are a Christian and you are a voter and you choose to vote for any Republican then it is your Christian duty to insist that the Republican politicians start acting like God-fearing Christians or make it very plain that they no longer have your vote. Charity, kindness, love, compassion are staples of the teachings of Jesus Christ. Folks, the teachings of the Republican Party are exactly the opposite of the teachings of Jesus! So, if you are a Christian and your are a voter, start acting like you know and care about the teachings of Christ and force the hand of these Republican politicians. Either that or simply quit supporting them, otherwise we are nothing but a hypocrite, we are not a follower of the teaching of Christ!

THIS ARTICLE IS ABOUT HOW THE STOCK MARKET KILLS GOOD JOBS

I BELIEVE THAT STOCK MARKETS ARE A PONZI SCHEME THAT KILLS THE WORKING FAMILIES

 

About 4:15 PM, EST today I reblogged a story from the ‘Times Of Israel’ about a large Pharmaceutical Company based in Jerusalem that it is said is getting ready to cut about 10,000 jobs within the next two years. The headline spoke a simple reality, basically it said that the Stock values jumped once the news got out. Folks I posted that article because it was no surprise to me, and in reality, this is the expected obvious result of 10,000 people and their families losing their jobs, their incomes.

A young lady who is one of my readers, and I one of hers, left me a comment, her opinion about this article and I would like to share her thoughts and mine with you now. This young lady has an excellent Website that I hope you will take a few moments of your time to check into. I did something that I don’t ever remember doing and that is that I did a copy paste of her comment to me and my somewhat long comment to her, Ms. Laina. Ms. Laina’s Blog Site can be found at (the silentwaveblog.wordpress.com).

Years ago, my gut instincts told me that either severely restricting, totally revamping, or even maybe completely abolishing the stock market might be a good thing. Glad to know that 1) I’m not alone and 2) we might be onto something! 👏🏼👏🏼👍🏼

And this is my reply to Ms. Laina.

Yep, think about it, just like in this case, when a company announces lay off’s their stock value goes up. When a company breaks a union, their stock value goes up. When a company moves their production to a third world country, their stock values goes up. What is in common with all of these is that the total labor cost go down so the profits go up. When Wal-Mart and Target announced that they were going to give their employees a raise, their stock values took a dive. When a company moves from the U.S. to China or Indonesia they know that their costs are going to go down, labor cost, EPA costs go way down, there is no OSHA, all of these things increase profits so the stock value goes up. As I am sure that you have noticed, when a company cuts their costs by lets say 50%, there is no reduction in the cost of their products on the store shelves. It is all about the profit for the company executives and for the stock holders, all at the expense the workforce. The stock market is nothing but a Ponzi Scheme to rob from the poorest to give to the richest, it should be totally illegal, but that is never going to happen.