Trump E-Gram: Three More Trading Days Left (October 28, 2020)

Wall Street New York City October 1929

The Economy is Trump.45’s Biggest Accomplishment as President. He often says so. Just listen to him. Your 401Ks are Through the Roof. Even the Middle Class can get some of that luscious green gravy. You ordinary folk can aspire to sup at the Rich Man’s dinner table or maybe join a Club like Mar-A-Lago to show off your Woman and Her Jewels. It’s Great Gatsby Times all around.

The Election is here. We are in the Final Sprint. The Stock Market is speaking.

There are exactly 3 Trading Days Left for Wall Street and America’s true Market Heart to pass Judgement on Trump.45’s self-professed Blessings on America.

Here are the three days from this week for the Dow-Jones average:

Monday, October 26: Down 650 points (27,685.38) (2.3%)
Tuesday, October 27: Down 222 points (27,463.19) (0.8%)
Wednesday, October 28: Down 943 points (26,519.95) (3.4%)

A 3-day loss of 1,815 points. A total market decline of 6.5% suffered in half a week. Maybe not so hot, Donald. But we’re right around the corner, wouldn’t you say?

At the end of the longest (mostly non-Trump managed) Bull Market in all of US history the Dow-Jones average closed at its highest level ever on February 12, 2020 at 29,951.42.

In a Fate inspired Irony of Ironies, exactly 91 years ago today, the Stock Market delivered a financial market result to Live in Infamy on Black Monday (October 28, 1929). The Dow suffered a record 12.82% loss in one day, on that day.

Trump’s 2020 Stock Market Carnage is now DOWN 3,341 since the beginning of this year. That’s a 10-month loss (after pseudo-recoveries) of 11.5%. That’s not quite as bad as the Stock Market’s 1929 Black Monday, but it’s pretty damn close. Same Zip Code of losses, for sure.

But in 1929 Black Monday only cost the country $14 Billion. Trump babbles on about his Stock Market growth being worth trillions. Early this year, analysts estimated that a 3,200-point Dow loss cost the Nation $4 trillion dollars.

So Trump has vanished $4.18 trillion of America’s wealth since February; $2.27 trillion of that amount in the past 3 days. Enough to make your head swim. Enough to make little people investors throw up. Enough to make even Trump’s comfortably rich buddies call for an Aspirin and a double whiskey from the Butler at the Club.

You Go, Boy! Trump has a new record to hang on his wall. He just lost America in 3 short days 150 times as much wealth as Hoover did on Black Monday, or 50 times as much per day for every day this week through Wednesday. A record to be proud of. An unparalleled feat. A True Financial Master.

But Here’s the thing. There are three more trading days left until the 2020 Election.

Will Wall Street throw Trump.45’s sinking re-election hopes a life-line to paper over the growing Pandemic losses. Or is their late reaction a woke call that things just might be not so good abroad in the Land of their Fellow Citizens.

Will America care?

75,000 new COVID cases every day, and rising fast. Half a million newly sick Americans each and every week right this very minute. 225,000 Americans dead in the last 9 months. Virus out of control, beyond Trump’s capacity to rein it in. Trump waves the White Flag of Virus Surrender this very week. Covid, Covid, Covid, Covid, he complains.