Remember in 2016

@Northwest The president lied about nothing. Clearly you haven't listened to his address about it or you would have known! This whole country is going nuts over the Coronavirus, shutting schools, cancelling events, etc. Yet the biggest killer every year is Influenza (12,000-70,000 deaths each year) and 1/2 the people you see say "I'm not getting the flu shot" "I'm not worried" The media has everyone preparing for the end of time. Relax people. We will go on after this virus!

@JT123 Here's s sample: https://www.newyorker.com/news/daily-comment/trump-in-the-time-of-the-coronavirus

Or maybe you prefer I use ignorant, instead if lies?

@Northwest Interesting. How did you get information about stuff that is in the future?

Trump is doing well to keep the country informed, aware, not panicked.
The left is doing what it can to create panic, spread disinformation and fear.

@Budwick


Perhaps you're not aware, but trading was halted this morning, after the DOW fell 1,800.

What we need, to get out of this crisis, is not a TV production, but reality. But why I am mentioning this to someone with multiple accounts on SW, Jack?

[quote]Trump is doing well to keep the country informed, aware, not panicked.[/quote]

[quote]
Recall, since the start of the coronavirus crisis, the litany of bogus assurances, “hunches,” misinformation, magical thinking, drive-by political shootings, and self-stroking:

“We have it under control. It’s going to be just fine.”

“By April, you know, in theory, when it gets a little warmer, it miraculously goes away.”

“The Obama Administration made a decision on testing that turned out to be detrimental to what we’re doing . . . ”

“We’re going very substantially down, not up. . . . We have it so well under control. I mean, we really have done a very good job.”

“As of right now and yesterday, anybody that needs a test [can have one], that’s the thing, and the tests are all perfect, like the letter was perfect—the transcription was perfect.”

“They would like to have the people come off [the Grand Princess cruise ship, off the coast of California]. I would like to have the people stay. . . . Because I like the numbers being where they are.”
[/quote]

@Northwest If the market fell becauwse of virus concerns, you can blame Nancy, Chuck and left wing media for scaring everyone.

@Budwick ahhh. Yes. Because Wall Street is full of hot house flowers that get all their information from the Democrats.

That’s a new one.

@JoeyFoxx Turns out the market seems to be reacting to oil prices.
Nothing at all to do with virus.
Here, have a carnation!

@Budwick So the financial markets have been duped by the Dems' lies ?

@Budwick 'Nothing at all to do with virus.'

Get a fucking grip man.

@RodionRomanovitch Turns out the market seems to be reacting to oil prices.
Nothing at all to do with virus.

@Budwick and the oil prices... have nothing to do with travel restrictions which Trump has crowed so loudly about in terms of how he has protected the country...

@Budwick Turns out you really do have shit for brains.

@JoeyFoxx So sorry your fake news outlet hasn't informed you - Oil prices hit fresh multiyear lows Friday morning after an OPEC+ meeting in Austria failed to reach any consensus on deeper cuts to oil production, The Wall Street Journal reported.

Oil Hits Multiyear Lows

Saudi Arabia and other OPEC members were lobbying non-OPEC member Russia to support deeper crude production cuts; Russia is open to the notion of additional production cuts, although not until the next OPEC+ meeting in June.

@RodionRomanovitch Doubtful, and the news came from major economic journalists.

@Budwick you don’t seem to understand how things work.

OPEC has been waiting for an opportunity to strike. Trump has been bragging about US oil independence since about a year after he got into office, having no clue how thin the ice is that the industry stands on.

Oil and gas production in the US is some of the highest in the world. OPEC has sent warnings about over production for years.

With Coronavirus shutting down factories in China (is that the Democrats over reaction?) and world travel quickly approaching a multi year low, OPEC struck.

It’s not a coincidence.

@JoeyFoxx Ao, OPEC 'struck' by putting off decisions about production levels until June?

We managed to survive being oil dependent for decades.
I bet we can withstand low gas prices for a while.

@Budwick literally not my point. But you seem to miss things.

OPEC “struck” by not agreeing to reduce production.

And, low oil prices won’t translate to low gas prices if the US oil companies lose profitability. It’s more complicated than that. Evidently you don’t understand this. I’m pretty sure the current President doesn’t either.

It has been Trump’s behavior and economic policies that have contributed to this destabilization. No, he couldn’t have predicted this virus. But there’s always something unexpected on the horizon, which is why markets hedge and are leveraged.

Trump has been effectively spending that leverage and here we are.

I’m guessing this means nothing to you.

@JoeyFoxx [quote]low oil prices won’t translate to low gas prices i[/quote]

Lower raw product costs does not affect finished product?
Where did you get your economics training Joey?
Do you think you can get a refund?

Trump's [i]behavior [/i]has caused this oil problem?
Fascinating,
actual raw material cost - no effect -
president's behavior in Joey's perception - is destabilizing.

@Budwick do some reading. You are talking about things you know.

US oil companies now have oil that they will need to sell at a loss. The oil prices are now below production costs. You think they will just eat it?

@JoeyFoxx [quote] You think they will just eat it?[/quote]
No, that would not be healthy.
And, it can only be stored for so long.
What normally happens when supply is greater than demand?

@Budwick oil is traded as a commodity in the futures market. Elastic pricing isn’t always a straight line based on simple supply and demand.

You sound like a college student trying to use first year economics principles in your argument.

This all started with a conversation about the market and Coronavirus. The market issues are related to both Coronavirus and oil and the oil price war is due in part to Coronavirus

I love how you deflect and change the subject when you are clearly wrong.

@JoeyFoxx [quote]I love how you deflect and change the subject[/quote]

I don't think you are being sincere.
I only answered your questions. Maybe you dragged the conversation here.

@RodionRomanovitch [quote]Turns out you really do have shit for brains.[/quote]

A well known fact, around these parts. And conclusions, much like the guy he voted for.

COVID-19, paralyzes the world global economy.

Demand for oil drops sharply, as people are working from home, business travel all but disappeared, tourism ground to a halt, and so forth and so on

Saudi Arabia attempts to rally OPEC behind a plan to reduce production, to cause the price of oil to go up

The US, though not part of OPEC, is egging the Saudis on, because low oil prices, mean trouble for the Shale oil industry, which is profitable only if oil is above a certain price

Russia tells the Saudis to take a hike

The Saudis start offering oil at a steep discount, because they think they have more stamina than the Ruskies

Ruskies tell the Saudis, oh yeah, watch me flood the market with cheap oil

But, hey, this has absolutely nothing to do with COVAD-19.

@Budwick I didn't drag the conversation here... but, fair enough.

My only point is that when you say that the Democrats and the media are over-reacting to the outbreak, that is a bit mis-informed when you look at how other countries have reacted and it's effect on the economy.

@JoeyFoxx I'm thinking how other countries have reacted and misinformation has an effect on the economy.