— Musings —04.07.2025 09:53 AM
Campaign notebook: the view from Washington
Here.
— Musings —04.07.2025 09:53 AM
Here.
Warren,
The MAGA dimwits must be so proud: the Trump WreckingBallTM is proceeding right on schedule! So happy I have the cash to deploy.
If you can keep your nerve, this can be a great opportunity. Just need to figure out where to catch the falling knife. The 2009 crash scared the hell out of me, but I learned my lesson and got a whole bunch of stuff cheap when the plague started. IMO and BAM both at 21 Canadian.
Equity markets were way overdue for a correction. If it hadn’t been Trump as the narrative excuse it would have been something else. Trees don’t grow to the sky.
Correct.
Martin,
Respectfully, wrong. The Federal Reserve has a trading desk that buys stocks as the buyer of last resort. That’s what keeps the markets artificially elevated. The Trump Tariffs spooked the markets, and so institutional investors bailed as one, while retail investors were left holding the bag, as usual.
Financial markets have corrections. The 1987 crash turned many Boomers into millionnaires as they were given the buying opportunity of a lifetime. The 2000-02 and 2007-09 bear markets provided further massive buying ops. It’s not the government’s job to interfere in equity markets to prevent corrections, and there’s nothing wrong with younger people getting the same kind of buying ops that older generations received.
As someone who has been in the markets since before the 87 crash and has seen every one of those corrections(07-09 was particularly personally entertaining!), things go up and things go down. I am making no moves which could be a mistake. Who knows. All we know for certain is we are a long time dead.
And I am not saying I agree with this take but it is always good to get out of your bubble and get a contrarian point of view.
“Walter Kirn: And the stock market’s down, and of course everybody sees this a day after we tape it, but as of 12:29 Eastern Time, 2.7% down, that’s the disaster of Trump’s tariffs. A 2.7% fall in the stock market. Well, I’ll take a 10%, personally. If there’s 10% shows back up across town in the wages, and the job prospects, and the security of the people who live out here in Livingston, Montana. That’s just me.
Matt Taibbi: And everybody knows if things are hyperinflated, you have to raise interest rates, and that’s going to cause some pain for a while, right? Like, you know, economic change for the better, it’s going to include some pain in the short term, always.”
Warren,
While The Fed and The Bank of Canada were raising rates, the markets, generally speaking, continued to rise as an overall pattern.