When’s the last time markets crashed like they have over the past few weeks on purely political news? Basically no economics fundamentals driving any of this.
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There are absolutely economic fundamentals driving this. If companies can’t plan for trade arrangements, they can’t plan for currency fluctuations, capital allocation, etc…
+1, it's the uncertainty settling in. The assumptions of the valuation models are being completely blown up. Firms and consumers will retrench, and get defensive.
And like very specific, acute economic mismanagement, not some debatable long run thing. Like blaring at the top of the WSJ, “Markets tumble because Trump said he’s good with a recession after weeks of trade wars”
Lmao. Young man everything derives from political system. And yeah our ‘economic fundamentals’ are based on perception of our system. And when you have orange turd and gop scum coterie of idiots,antivaxxers,conman you get appropriate reaction from market.
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That’s when you know you’re in trouble.
CEOs and boards won’t make capital commitments in this period of uncertainty.
Even a 5% change upsets the apple cart.
Nobody wants to know what stocks are worth without government price support.