g5000
Diamond Member
- Nov 26, 2011
- 127,053
- 70,799
- 2,605
A few weeks ago I warned this forum to brace yourselves for a stock market crash. Much jeering followed. Nobody is laughing now.
Trump called the concern over the coronavirus a hoax. He is going down in history as another Hoover, who was also a businessman president. Trump's stock market, which he so frequently took credit for its growth, has had two single day drops bigger than Hoover.
To get an idea of what our economic future looks like, we only need to look at China, Trump's favorite punching bag.
As the coronavirus spread, China began many of the same measures we are just now implementing. They went a little further than we did by quarantining several entire cities. But they also closed restaurants and bars throughout China, and enacted "social distancing", closed schools, etc.
As a result, their PMI for February dropped to 35.7. This is what told me our stock market was about to crash.
So here's where China is today, which is a good indicator of where we are going:
Trump called the concern over the coronavirus a hoax. He is going down in history as another Hoover, who was also a businessman president. Trump's stock market, which he so frequently took credit for its growth, has had two single day drops bigger than Hoover.
To get an idea of what our economic future looks like, we only need to look at China, Trump's favorite punching bag.
As the coronavirus spread, China began many of the same measures we are just now implementing. They went a little further than we did by quarantining several entire cities. But they also closed restaurants and bars throughout China, and enacted "social distancing", closed schools, etc.
As a result, their PMI for February dropped to 35.7. This is what told me our stock market was about to crash.
So here's where China is today, which is a good indicator of where we are going: