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We’ve been waiting for Congress to respond for weeks. I wouldn’t hold your breath.
by cyberlurker 2y ago
We’ve been waiting for Congress to respond for weeks. I wouldn’t hold your breath.
- JKCalhoun 2y agoWith talk of a anticipated 10% to 20% drop in the markets, their silence could be ruinous.
- ethbr1 2y agoThey're busy trying to pass a continuing resolution on Republican-only votes the keep the government open. Because heaven forbid both parties compromise.
- vkou 2y agoThe compromise between fucking insanity and good governance is not agreeing to go half way into fucking insanity. Meeting an unreasonable person half-way is giving them a blank cheque to become more unreasonable. All it does is tell them that you're a sucker.
- ethbr1 2y agoDepends on what cards one is holding. Getting half of what one wants and not being driven off a cliff can be preferable to smiling in moral smugness while the car arcs through the air.
- vkou 2y agoPast behavior of this administration strongly predicts that your reward for kowtowing to its value-compromising demands... Is becoming the target of further value-compromising demands. It doesn't engage in positive-sum games.
- ethbr1 2y agoIt doesn't have to. Strictly in terms of self-interest, sometimes compromise can be the optimal move.
- ModernMech 2y agoIf they're willing to self-harm for the cause, then the optimal move is to grab the wheel and yank it yourself to change direction and stop the car from careening off the cliff.
- vkou 2y agoOr at minimum, not gas it up.
- mcphage 2y ago> smiling in moral smugness while the car arcs through the air Sorry, why is this metaphorical car arcing through the air again? What's that all about?
- boroboro4 2y agoI’m sorry there is only one party which is consistently doesn’t compromise at all. It’s a party of bullies and it’s a party which brought us here (and will bring us somewhere much worse). I’m afraid by now the only option forward don’t compromise with them at all, they understand only power.
- JumpCrisscross 2y ago> trying to pass a continuing resolution on Republican-only votes the keep the government open They can’t. They need Democrats in the Senate [1]. It should honestly fail without a provision defunding and deauthorising DOGE. [1] https://www.politico.com/live-updates/2025/03/10/congress/johnson-shutdown-schumer-congress-00220158 https://www.politico.com/live-updates/2025/03/10/congress/jo...
- jauntywundrkind 2y agoOne of the big questions is what happens to all the money Congress has allocated? The budget keeps allocations the same, but now that for example Mark Rubio announced USAID is to be entirely eliminated, it's remaining 15% of programs moved into State Department, what happens to that money? https://apnews.com/article/trump-musk-rubio-usaid-foreign-aid-bf442d62af67918a6fc5eee839074601 https://apnews.com/article/trump-musk-rubio-usaid-foreign-ai... Expectations are that it's just treated as a giant slush fund for whatever the executive feels like. Whether Dems do anything to curb DOGE's chainsawing act or whether they try to wrestle with what happens to these "savings" is something Dems have a chance right now to tangle with, and much less leverage in the future. https://talkingpointsmemo.com/edblog/will-dems-pick-up-their-sword https://talkingpointsmemo.com/edblog/will-dems-pick-up-their...
- bongodongobob 2y agoNASDAQ is already down 11.5% in the last month.
- jghn 2y agoSP500 is already down 10% in the last month
- JumpCrisscross 2y ago> SP500 is already down 10% in the last month Not yet. Nasdaq is in correction, but the S&P is only down 8.6% from its 19 February high of 6,144 [1]. (5,529.) [1] https://www.marketwatch.com/story/nasdaq-falls-back-into-correction-territory-as-s-p-500-tests-a-line-in-the-sand-watch-these-levels-c2d9812b https://www.marketwatch.com/story/nasdaq-falls-back-into-cor...
- jghn 2y agoYes. I eyeballed it at roughly 9% earlier and rounded up. My point stands. We're already pretty much in the ballpark of what GP cited.
- usefulcat 2y agoAs of today S&P has given up all gains since the election, and then some.
- rufus_foreman 2y agoThe stock market falls by 10% or more on average every 1.2 years: https://www.covenantwealthadvisors.com/post/understanding-stock-market-corrections-and-crashes https://www.covenantwealthadvisors.com/post/understanding-st.... There were 5 such drops in 2020, 4 in 2022, and 1 in 2023. Somehow, the nation avoided ruin during those periods.
- JumpCrisscross 2y ago> There were 5 such drops in 2020, 4 in 2022, and 1 in 2023. Somehow, the nation avoided ruin during those periods Come on, look at your numbers. Recession in 2020 with 5 blips on the monitor. Last quarter we saw negative real GDP Q1 ‘22, 4 blips. 1 blip in ‘23 and none in ‘24 while the economy did so well prices overheated. Now we’re seeing 1 blip in Q1. If we annualise that to 4 blips, it puts us back in the last year in which we had a single quarter with negative real GDP growth.
- rufus_foreman 2y agoI am looking at the numbers. And what the numbers show is that a 10% drop happens on average every 1.2 years and is not something that needs Congress to get involved in every time it happens. If you can't tolerate 10% drops on a regularly occurring basis, the answer is not to beg Congress for help, it is to invest in something safer with lower returns.
- JumpCrisscross 2y ago> a 10% drop happens on average every 1.2 years You’re averaging a non-averageable time series. > If you can't tolerate 10% drops on a regularly occurring basis The point is to look at data together. A 10% drop on its own isn’t much. A 10% drop alongside crashing ISM indices and the President being noncommittal on a coming recession is another.
- rurp 2y agoYou seem weirdly determined to ignore all context in a discussion about markets.
- Bhilai 2y agoOr they are silently buying the dip till the midterms.
- Balgair 2y ago2 years of a 'dip' is, ummm, not just a dip, right?
- moribvndvs 2y agoDid you mean decades?