In the history of mankind, many republics have risen, have flourished for a less or greater time, and then have fallen because their citizens lost the power of governing themselves and thereby of governing their state. TR

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How Bad Are Things? Dow Jones Still Up Nearly 3,000 Points Under Trump

It’s little comfort to those whose 401ks and investments have been decimated by the recent declines, I know.

But here’s a little counter programming from what you see in the news.

The Dow Jones even after Thursday’s close at 21,200.62 is still nearly 3,000 points higher than it was on Election Day, Nov. 8, 2016, when it was at 18,332.74. That means your stocks are still up 15.6 percent since Trump was elected.

That’s mediocre over three and a half years, but it imparts at least a little perspective. The market has made incredible gains since Wall Street became aware that Donald Trump would be president, and since he assumed office.

The Dow could decline still further. But once the sweeping fear over this virus has abated and the economy begins to bounce back from what may well become a recession, your money will be back.

It feels like everything is falling apart, in the same way just a few weeks ago, investors felt untouchable, and it was hard to imagine the virus would devastate our society and upend our daily lives.

When you’re well, it’s hard to appreciate misery of being sick. And when your sick, it’s hard to imagine being well. Today’s fear and uncertainty will give way to optimism and sunny times again, even if we can’t see it. And the market will be back.

7 thoughts on “How Bad Are Things? Dow Jones Still Up Nearly 3,000 Points Under Trump”

  1. Who is this “everyone” you speak of, kemosabe?

    Cooler heads–in this case, the people with degrees in, you know, medicine, epidemiology, public health–have been way ahead of the people with degrees in communications, journalism, and poli-sci.

    Cui bono? Who benefits from a national panic?

    It’s the short sellers who don’t have an uptick rule to stop them from cashing in on a bear market. It’s the K Street crowd, which always seems to be part of the “solution” whenever a crisis breaks out. It’s the political class, who can parlay public panic into (possibly) perpetual power. And above all, it’s the media vultures, who will make money hand over fist “reporting” on all of it.

    Now, if that means a lot of average Americans take a haircut on their pensions, oh, well. If that means Emergency Medicine facilities all over the country have to be swamped with every little case of the sniffles, too bad. And if it means that a bunch of little people have to die in the chaos, well, you know, omelettes, eggs…

    The political class wants Trump gone, by any means necessary. If that means fomenting a national panic that could kill more people than the virus itself, well, orangemanbad, so anything goes.

    One day, the American media will have to give account for its behavior these past few years. I hope that account only needs to be written with ink.

  2. Little comfort indeed, but true. I’ve never seen such a swift reaction to something like this (where was this kind of panic in 2009 with the Swine Flu??)…the markets tanking, professional sports leagues canceling/postponing their seasons, governors mandating group gathering restrictions, etc. – all with the media in lock-step stoking the fears.

    I get it that this is serious and perhaps many of these measures are necessary, but it just seems everyone laid down their arms with barely a fight. I can’t imagine my late parents and their generation — who fought and survived the Great Depression and World War II — caving in so easily.

  3. This is technical in nature — There is no real sell off — Mattresses are not being jammed with cash.

    In less than 4 weeks… and maybe in as little as 4 days, this will be back to where it was…

    And.. B-Idunno ran his month about the China Travel ban and also the Swine Flu (2009) in a way that he looks like the clown… Imagine if Biden is dumb enough (he is) to bring up the Corona scare in the possible/likely Trump v. B-Idunno debates — Trump will crush him.

  4. I’m in Ohio where the Governor shut down schools this week. The panic buying of toilet paper was amusing, to a degree. But the run on grocery stores yesterday was actually scary. Walked into different stores last night….virtually no chicken, no potatoes, no bananas, etc. Thank goodness I didn’t need TP or cleaning aupplies! I truly don’t understand it. Maybe people were buying because kids are going to be home three weeks and they think they won’t be able to go shopping?

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