The stock market is trading in an environment that is very similar to the fourth quarter of 2008, DataTrek Research co-founder Nicholas Colas said in a note on Wednesday.
The similarities between the end of 2008 and the end of 2020 were only heightened on Tuesday after President Donald Trump shot down further stimulus negotiations between House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin via tweet. First, the US economy is on shaky ground, though for different reasons. It was a housing crisis that infected the financial industry in 2008, rather than a global pandemic that caused an economic decline in 2020.JPMorgan's $1.9 trillion asset management firm shares the 5 biggest opportunities it's recommending for clients across markets during the fourth quarter
In 2009, it wasn't until February when the American Recovery and Reinvestment Act was passed, providing the much-needed fiscal stimulus to help jumpstart the economy.Corporate earnings are much stronger today than they were in the fourth quarter of 2008, the banking system is on solid footing today compared to a crumbling banking system in 2008, and the Fed is providing significantly more liquidity to help calm the credit markets than it did then, according to DataTrek.
who runs this twitter account anyway? what a crook lol
as soon as I unblock, I see garbage articles like this, reminded why I blocked lol
This is not good!
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