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DOW plunge has my blood boiling. [1]
['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']
Date: 2025-04-04
The 52 week high for the Dow Jones was 45k back before the election. The index has dropped to 38k in a matter of days, wiping out nearly all the gains made in the last year. One more day like the last two and we may drop below the 12 month low of 37k. More harrowing is the fact that there is no floor to this madness. An 8k drop in the average in such a short time is a catastrophe for retirees who cannot avoid redemptions.
On Black Monday, in October of 29, the market shed 13%. The was followed by 12% the next day and before the bleeding stopped the Dow lost 79%. It took four and a half years to regain that lost ground with FDR moving heaven and earth to help Americans.
Thanks to FDR, market controls have prevented a repeat of the Great Depression, so we are unlikely to drop 79 %, but if we did, that would place the Dow below 10,000. The last time the market at that benchmark was October of 2008.
I reject the emergency powers being used by the prez to do this. Congress needs to challenge the assertion of emergency powers. The only emergency is the one Trump is creating.
I think applying Tesla like pain on the other billionaires behind this nightmare will ultimately end this mess. Don’t buy from the U Line catalogue. Don’t shop at home depot, avoid Koch industries consumer brands like Brawny paper towels or Stainmaster carpets.
Don’t drink Coors beer.
Six families paid for project 2025. Koch, Bradley, Coors, Seid, Scaif, and Uhlein. They need to know that we see what they are doing and that we don’t like it.
Finally join mass protests scheduled in all 50 states for tomorrow, April 5 by Hands Off. We are being robbed and we know who the robbers are.
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