tag:blogger.com,1999:blog-28837843.post5624828184395121162..comments2024-03-19T07:10:27.303-07:00Comments on Quark Soup by David Appell: Are We Screwed No Matter What?David Appellhttp://www.blogger.com/profile/03318269033139447591noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-28837843.post-57622780427570092942020-03-20T13:46:07.810-07:002020-03-20T13:46:07.810-07:00Here's the chart with Trump's autograph, l...Here's the chart with Trump's autograph, lined up with the longer term data:<br /><br /><a href="https://i.imgur.com/4Gz3nEL.png" rel="nofollow">chart</a>Nedhttps://www.blogger.com/profile/09266537661797164304noreply@blogger.comtag:blogger.com,1999:blog-28837843.post-845093872401381922020-03-20T13:29:33.555-07:002020-03-20T13:29:33.555-07:00The DJIA (US stock index) is down 34% from its Feb...The DJIA (US stock index) is down 34% from its February peak. Over the past three weeks it's fallen at a rate of 438 points (1.5% of its peak value) per day:<br /><br /><a href="https://i.imgur.com/KP3D8wp.png" rel="nofollow">nifty chart</a><br /><br />Note that the Y-axis starts at zero...<br /><br />One week ago, after a day when the market had temporarily bounced back up, Trump was autographing printouts of the bounce, and David in Cal explained that the bounce was because "enormous progress is being made" on the coronavirus response:<br /><br /><i>"The core message [of Trump's 13 March press conference] was that enormous progress is being made. That's why the stock market rocketed up.<br /><br />"If the stock market drops [significantly] again next week, I think that will that mean Friday's 'enormous progress' was mostly illusory."</i><br /><br />Now we've had another week of trading. The DJIA is down another 10% below the <b>starting point</b> for the "enormous progress" bounce. <br /><br />I do think we are making some progress, but it's lackluster at best and weeks later than it should have happened. The loss of life and economic damage from this are going to be far worse than they needed to be. We cannot afford this reality-TV president now.Nedhttps://www.blogger.com/profile/09266537661797164304noreply@blogger.com