This is what worries me.

https://twitter.com/RepJoeKennedy/status/959543039160127489

 

 

Edited February 2, 20187 yr by Juliajms

Did the stock market fall 666 points today? 

 

 

BREAKING: U.S. stocks fall sharply, DOW drops over 600 points. https://t.co/Y7qMDMhyzn pic.twitter.com/cxwWfeFhp7

— ABC News (@ABC) February 2, 2018

8 minutes ago, Juliajms said:

This is what worries me.

https://twitter.com/RepJoeKennedy/status/959543039160127489

 

 

 

Of course. But this isn't new. It's been the case since Trump took office. And the Dems are still managing to get seats. Enough to turn the tide? Maybe not. But it's February. There may be more BS (forget may, will), so time will tell if we can tie Trump's hands.

So the Federal Reserve cracks down on Wells Fargo. Wasn't sure anything like this would ever happen.

 

https://www.bloomberg.com/news/articles/2018-02-02/wells-fargo-banned-from-growing-in-fed-crackdown-after-scandals

13 minutes ago, DramatistDreamer said:

Did the stock market fall 666 points today? 

 

 

BREAKING: U.S. stocks fall sharply, DOW drops over 600 points. https://t.co/Y7qMDMhyzn pic.twitter.com/cxwWfeFhp7

— ABC News (@ABC) February 2, 2018

 

I was reading that one of the big reasons for the drop today is because of the report today saying wages have finally increased for the first time in many years.

 

It tells you a lot about how the average American is punished when increasing wages is seen as a cause for alarm. 

I am not sure how the average American gets punished by the stock market falling unless we assume most are invested in the market, although maybe not directly. But the market has not been reacting favorably to increasing job numbers in years. But increased wages lead to inflation which would push interest rate increases, slowing down borrowing.

 

Ali Velshi was reporting on this today and was speaking with someone from Chase who talked about how investors are getting concerned that the cheap money coming from central banks might flee sooner than expected..

 

I think we are in a bubble anyway so a slowdown or correction driven drop is not really a shock.  A friend and her husband sold off their entire portfolio last Nov into more conservative investments, cash, and bonds. In preparation for a crash and then a re-buy when the market crashes. Not a bad strategy but I don't think we are close to that happening now.

 

 

How much did the Dow drop today? 666 points. Let me say it again:666.
Coincidence? I think not.

— Stephen King (@StephenKing) February 2, 2018

 

21 hours ago, DramatistDreamer said:

Did the stock market fall 666 points today? 

 

 

the mark of the Beast!

Am I reading right that the Dow average today fell more than 1000 points?

52 minutes ago, Khan said:

Am I reading right that the Dow average today fell more than 1000 points?

 

Yup!

1 hour ago, Khan said:

Am I reading right that the Dow average today fell more than 1000 points?

 

So. much. MAGA winning.

So Mick Mulvaney as the new head of the newly disempowered Consumer Financial Protection Bureau is now set to pull the plug on the ongoing investigation into Equifax and their enormous data breach from last year.

 

Exclusive: U.S. consumer protection official puts Equifax probe on ice - sources

 

If it wasn't clear to anyone before, it should be clear now that we non-millionaires are truly on our own.

3 hours ago, Khan said:

Am I reading right that the Dow average today fell more than 1000 points?

That's only 4% or so.  Being old, I remember when it would drop 300 points and everyone was freaking out.  It was kind of fun to see Trump's speech with the news of this market drop on the screen though.

 

And yeah, I'm not saying this drop wasn't significant, I'm just saying it's not 1987 or even 2008. Call me when the market is down 20%.

So it looks like the redistricting in PA is going to happen as the Supreme Court declined to block the PA Supreme Court decision. The redistricting is supposed to be in place for the 2018 elections.

 

https://www.nytimes.com/2018/02/05/us/politics/supreme-court-pennsylvania-gerrymandering.html