It's official the next president of the United States of America is

[TheButcher]

Joseph Robinette Biden Jr.


And here is why I am making this prediction;

No president has won re-election (that I can think of) during a recession in his first term.

The country and the world is headed towards a recession, this for a few reasons, most notably because the current bull market and good times are over. The Coronavirus has caused unprecedented turmoil in the supply chain and businesses all over the world and there is no light at the end of the foreseeable future. People are not going to work, businesses are going to lose major income and profits...

Recessions are only announced a few months after they have started, that is when the economic data becomes available and my guess this has begun now.

Why Biden not sanders? Simple I have said this all along, the Democratic establishment wants a corporate candidate who will not rock the boat when it comes to big business. Biden is that man.

he already announced on the CNN- UNIVISION debate last night he will pick a woman VP, and my guess is this is going to be Sen. Kamala Harris (she's black and a woman), other choices are Hilary R. Clinton or Amy Klobachar, this VP part I am not sure of yet the rest of it I am 100% certain.

You don't believe me check this thread on election night, November 3rd 2020.

[FilmLatex]

Corona is a joker though ... if Trump somehow ends up looking like the saving statesman guiding the boat through it (I know it looks entirely unlikely right now but theres months of corona crisis to go) - and in such a case he might not get the automatic blame for the recession but rather be viewed as the most likely candidate to bring the US out of it

[TheButcher]

Corona is a joker though ... if Trump somehow ends up looking like the saving statesman guiding the boat through it (I know it looks entirely unlikely right now but theres months of corona crisis to go) - and in such a case he might not get the automatic blame for the recession but rather be viewed as the most likely candidate to bring the US out of it

I'm going with my first point
"No president has won re-election (that I can think of) during a recession in his first term."

Second I doubt the Coronavirus will be over in 3 months, I predict it'll be worse by then. I hope not but that's my gut feeling.

[FilmLatex]

I agree - conventional wisdom says itll pull the carpet under him ... but if youre right and an ongoing national crisis is ongoing, that would normally be massively beneficial to the sitting president (nothing works better for re-election than a massive terror attack, natural catastrophe etc) - unless of course if said president is perceived to be handling it disastrously.

[bbwlover]

The election is so not happening because the Coronavirus will devastate the country by then, it has to be put back until life gets back to normal. How we will handle Trump legally staying on as president I have no clue.

[TheButcher]

I said in another thread that the DOW would drop to around 15-16K by election time, I think that is optimistic now. The economy is going down hard, the markets are tanking, oil is a problem, unemployment is going to sky rocket and the Dollar is going to drop in value, inflation is very likely. The recession from what i have read is upon us.

There is so much the government can pump into the economy, now this 1 trillion dollar stimulus package is about to take place. A trillion here a trillion there and soon you're talking real money to paraphrase the late Senator Everett McKinley Dirksen.

The only way to stop the pandemic and yes it is tough medicine, but has to happen now, is to stop all travel, close all schools and non-essential businesses lock down all places. Tell people to sit at home for 90 days and only leave for groceries and medicines when necessary. The way it is happening now is not going to work, it has to be a concerted effort worldwide and now. Not city by city, not state by state and not country by country when things get too hard to handle.

No US president I can think of has won re-election during a recession, and I wish Trump well, the American people well but it seems Biden is going to be the next president in 2025. Not rooting for Biden but the reality is what it is, or how I see it right now. We shall see come November election night if the election actually takes place.


https://www.foxbusiness.com/markets/us- ... ch-18-2020

Dow plunges below 20,000, oil craters as Congress weighs $1T stimulus

U.S. equity markets plunged Wednesday, pushing the Dow Jones Industrial Average below 20,000.

The Dow Jones Industrial Average fell by about 1,300 points, or 6 percent, while the S&P 500 and Nasdaq Composite were lower by 5.4 percent and 5.5 percent, respectively. Trading is halted if the S&P 500 falls by 7 percent.
Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 19855.5 -1,381.88 -6.51%
SP500 S&P 500 2388.57 -140.62 -5.56%
I:COMP NASDAQ COMPOSITE INDEX 7011.374979 -323.41 -4.41%

The early selling comes as the Trump administration and Congress hammer out the details of a $1 trillion stimulus package designed to prop up the most harshly pummeled sectors of the U.S. economy and give cash to those out of work.

Looking at stocks, Boeing shares were rocked as the company called for a $60 billion bailout for aerospace manufacturers.
Ticker Security Last Change Change %
BA BOEING COMPANY 103.32 -20.82 -16.77%
UAL UNITED AIRLINES HLDG. 23.92 -6.75 -22.00%
DAL DELTA AIR LINES INC. 24.13 -7.61 -23.98%
AAL AMERICAN AIRLINES GROUP INC. 12.04 -3.54 -22.72%
LUV SOUTHWEST AIRLINES CO. 34.57 -3.68 -9.61%

Airlines, restaurants, hotels and casino operators remained under pressure as the Trump administration weighs assistance for the industries hit hardest by the pandemic.

Meanwhile, plunging oil prices hammered energy giants ExxonMobil and Chevron and weighed heavily on Hess Corp. and Continental Resources. West Texas Intermediate crude oil was down almost 14 percent at $23.50 a barrel, its lowest in 18 years.
Ticker Security Last Change Change %
XOM EXXON MOBIL CORPORATION 34.74 -2.07 -5.63%
CVX CHEVRON CORP. 62.47 -8.22 -11.63%
CLR CONTINENTAL RESOURCES 7.16 -1.13 -13.63%
HES HESS CORPORATION 28.29 -2.33 -7.61%

Miners slid as the price of an ounce of gold slipped more than 2 percent to $1,493 an ounce.

On the earnings front, FedEx fell after announcing its adjusted net income dropped 53.5 percent year-over-year to $371 million and suspending its 2020 profit outlook due to uncertainty caused by the COVID-19 pandemic.

General Mills raised its adjusted profit forecast, but remained under pressure.
Ticker Security Last Change Change %
HES HESS CORPORATION 28.09 -2.53 -8.26%
GIS GENERAL MILLS 57.35 -2.32 -3.89%

Elsewhere, the yield curve steepened as investors sold longer dated Treasurys. The yield on the 2-year note was little changed at 0.466 percent while the yield on the 10-year note was up 9 basis points at 1.086 percent.

The steeper curve was unable to give relief to banks, which continued to see their share prices sink.

Winners were few and far between, with meal-delivery service Blue Apron among the only bright spots.

The company's shares soared as investors speculated that it would benefit from restaurants closing their dining rooms. Shares were already up 187 percent this week through Tuesday.
Ticker Security Last Change Change %
APRN BLUE APRON HOLDINGS INC 14.46 +7.91 +120.76%

European markets were sharply lower, with France’s CAC falling 6.2 percent, Germany’s DAX sliding 5.7 percent and Britain’s FTSE tumbling 5 percent.

Hong Kong’s Hang Seng paced the decline in Asia, falling 4.2 percent, while China’s Shanghai Composite and Japan’s Nikkei fell 1.8 percent and 1.7 percent, respectively.

[viking]

What election we will all have the Coronavirus and not be up to leaving our homes

[Daniel]

No the real president will be his VP who tells him what to do

[TheButcher]

No the real president will be his VP who tells him what to do

Dr Fauci did a classic one on Friday