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Promises Kept: Democrats Deliver On Affordability By Making Stocks Way Cheaper


Democrats proudly announced that they had already delivered on their campaign promise to improve affordability, having made stock prices far, far cheaper in just a few days.

Only two days after the midterms, Democrats had succeeded in reducing the total cost of stocks by historic amounts, making good on their vows.

"This is what it looks like to deliver for the American people," said Representative Hakeem Jeffries, holding up a chart to show how much cheaper stocks are now. "In just 48 hours, we managed to cut the price of stocks by a collective $2.9 trillion. If we can do that in two days, just imagine what we can accomplish over the next four years. Promises made... promises kept!"

Millions of Americans cheered the landmark accomplishment, overjoyed that the Democratic Party had so quickly followed through on its campaign promise. "Finally, politicians who actually get things done," said local man Gregory Tharp, looking at the crashing market prices. "These are real results, ones you can actually see when you look at your retirement account. This is why America voted for change."

At publishing time,
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Greenthumb · 56-60, M
Yes, thank you. I lost a shit load of money on my Micron stocks. I should have sold before the election.
JohnnySpot · 56-60, M
@SumKindaMunster I'll be 59 and a half in mid December.
frugalhermit · 61-69, M
@Greenthumb its a roller coaster ride for the long haul, and who jumps off in the middle?? only a fool. must ride out the dips and see them as a buying opportunity
JohnnySpot · 56-60, M
@frugalhermit It looks like normal volatility to me so far.
SunshineGirl · 41-45, F
It is a much needed market correction to ridiculously over-priced tech stock. If investors know that government will no longer roll over and slavishly accommodate every whim of the tech sector, that is a positive development. Even better, government bonds start to look a more attractive proposition. Investors pile in, driving down yields and the cost of servicing government debt is reduced by billions.

If only Elon had been that focussed.
Thinkerbell · 46-50, F
At publishing time, it was also learned that the Democrats plan to make similar reductions in the market value of stocks about 13 more times over the next two years, and by short selling on each occasion, to pay off the national debt.
SunshineGirl · 41-45, F
@Thinkerbell They are actually talking about completely banning trading by House and Senate representatives. Pretty radical stuff, no?
ron122 · 46-50, M
@SunshineGirl Neither party will ever ban trading by House and Senate representatives. Both sides are making too much money.
Thinkerbell · 46-50, F
@ron122 @SunshineGirl

Even if they do pass a pro forma "ban" on trading while in Congress, you can be sure they will leave plenty of easy loopholes for themselves.

Nobody leaves the House or Senate less than a multi-millionaire, including Bernie.
whowasthatmaskedman · 70-79, M
Two ways we can go here. First by saying Stocks were highly overvalued to start with and this "correction" is just that. A Correction. Second, we could point out this correction started before voting finished and that at this time not one of the new, as yet non sworn in representatives has had time to even comment on stock prices, let alone enact a policy. Since most of this is in the Nasdaq it is more reasonable to assume that these Tech leaders have realized they are over-reaching their borrowed money investments in AI with, as yet, no clear idea of how to make a profit out of it.
But dont let reason stop you when you are on a roll..😷
whowasthatmaskedman · 70-79, M
@RachelLia2003 Here a quarter is just a washer without a hole in it..Useless..😷
whowasthatmaskedman · 70-79, M
@Thinkerbell Thank you for the advice. I will check. But they are all this washed out goldy colour and from memory none look worn enough to be old. But I will check.. I have notes from a number of places, like China, which are older versions that currency exchanges wont accept. Even though they are still legal tender in the country of origin. But I wont be going back to China or Manilla, any more than I will be going back to America.😷
whowasthatmaskedman · 70-79, M
@RachelLia2003 After thinking about this, you are helping me make a point here. While my $US are indeed the official reserve currency right now, the fact that I am not in America makes then useless to me. I have no way of exchanging them for good here. Now a decade or tweo ago, I could go to a international trade port (Dubai is one I actually did this ) and use $US over the counter to make a purchase, along with the local Derum, $A and my card. And the store was happy to have them. But here that has never been the case. Personally I prefer to use cash. Its anonimous. But a card transaction can be in anything. Fairly soon, it wont make any difference if you buy a Pizza in NY on your card whether is comes out of the account in $US, Euros or Yuan. You may not even know.😷
Gibbon · 70-79, M
Oh even a chatbot has something to say

Yeah. "Affordability" as in "the thing you own is now worth less." That's not making it affordable. That's making it worthless. Same trick as "the housing market is cooling down" — which is code for "your house lost $80,000 this quarter."

The math works if you're the buyer, not the holder. And the people holding the stocks aren't the people the campaign was aimed at. So the "victory" is real in the way that a house fire is a "win" for the real estate market. The numbers went down. The people who owned the stuff got poorer. The politicians called it a win.

the funniest thing.. the second the world finds out the Dems clawed back an iota of power. the stockmarket took a 1T dollar shit.... lolz..

oy vey comrads..
Prison1203 · 61-69, M
@TheOneyouwerewarnedabout because investors know that demonicrats are going to tank the economy
TexChik · F
Afterall , only corrupt libs get to profit from the market.
Thinkerbell · 46-50, F
@TexChik

The Pelosis surely made out like bandits, adding substantially to their $200 million nest egg.
TexChik · F
@Thinkerbell The two tier justice system..." The laws for thee do not apply to me".
RachelLia2003 · 22-25, F
they ruined nasduck and stuff
The newly elected congress doesn't take over until January. And stock market prices immediate changes have more to do with large companies than politicians. This whole statement makes no sense.
sunsporter1649 · 70-79, M
@froggtongue We live in a gated community, all our solar panels, windmills, and data centers are underground
@sunsporter1649 who made that decision?
@sunsporter1649 I'm going to guess it was your decision to have them there or the decision of your community or a combination of both. Which is as it should be. Let the people who have to deal with it decide if it's something they want or not.

 
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