Patterico's Pontifications

11/9/2020

Stock Market Up Over 1000 Points After Announcement of Biden Win, Vaccine Results

Filed under: General — Patterico @ 8:29 am



But, but I was told . . .

“If for some reason I wouldn’t have won the [2016] election, these markets would have crashed. That’ll happen even more so in 2020,” Trump said. “See, the bottom line is… You have no choice but to vote for me because your 401k, everything is going to be down the tubes. So whether you love me or hate me, you’ve got to vote for me.”

Narrator: they did not, in fact, have to vote for him.

Rupert Murdoch’s Wall Street Journal:

Dow Surges to Intraday Record on Vaccine Results, Biden Win

U.S. stocks jumped to fresh records Monday after progress on a Covid-19 vaccine and Democrat Joe Biden’s electoral victory sent indexes soaring and boosted companies in the hardest-hit sectors of the economy.

The Dow Jones Industrial Average climbed 4.6% to its first intraday record since February, before the pandemic shutdown began. The index traded just below the 30000 benchmark. The S&P 500 surged 3.4%, also in record territory.

I’m having a little fun here, but in all seriousness, I would not be surprised by a stock downturn. The market has been overvalued for years — and even after the crash earlier in the year, the stock market has continued to outpace any reasonable expectations regarding the economy.

Just a little gentle trolling of the election loser — who, by the way, is planning a series of rallies to try to whip up anger (which will inevitably result in violence) over the virtually non-existent voting fraud that he claims cost him the election but which actually didn’t.

There is one totally valid claim Trump has, though, and its rock-solid nature is the reason it was featured at the swank press conference over the weekend held at the venerable Four Seasons . . . [checks notes] Landscaping Company:

The first person Rudy Giuliani, the attorney for President Donald Trump, called up as a witness to baseless allegations of vote counting shenanigans in Philadelphia during a press conference last week is a sex offender who for years has been a perennial candidate in New Jersey.

“It’s such a shame. This is a democracy,” Daryl Brooks, who said he was a GOP poll watcher, said at the press conference, held at Four Seasons Total Landscaping in Northeast Philadelphia. “They did not allow us to see anything. Was it corrupt or not? But give us an opportunity as poll watchers to view all the documents — all of the ballots.”

Trenton political insiders watched with bemusement as Brooks took the podium.

Brooks was incarcerated in the 1990s on charges of sexual assault, lewdness and endangering the welfare of a minor for exposing himself to two girls ages 7 and 11, according to news accounts.

STOP THE STEAL!!!!1!

48 Responses to “Stock Market Up Over 1000 Points After Announcement of Biden Win, Vaccine Results”

  1. Brooks was incarcerated in the 1990s on charges of sexual assault, lewdness and endangering the welfare of a minor for exposing himself to two girls ages 7 and 11, according to news accounts.

    Born Trump supporter.

    nk (1d9030)

  2. For fun, let’s poke our leftist friends in the eye by pointing out that Citigroup Inc’s stock is currently up almost 10%, so it’s good that we’ll once again have a President who makes life easier and more lucrative for the giant Wall Street banks.

    JVW (ee64e4)

  3. Where does Rudy find these people?

    Dustin (4237e0)

  4. To be fair, there’s Paul Krugman after the 2016 election:

    2016-11-09T00:42:44-05:00 12:42 AM ET

    It really does now look like President Donald J. Trump, and markets are plunging. When might we expect them to recover?

    Frankly, I find it hard to care much, even though this is my specialty. The disaster for America and the world has so many aspects that the economic ramifications are way down my list of things to fear.

    Still, I guess people want an answer: If the question is when markets will recover, a first-pass answer is never.

    10,000 points since on the DOW.

    Kevin M (ab1c11)

  5. Krugman is hilariously bad at his job.

    Most of us seem to be getting the point though. It’s not one side or the other side. Trump’s most angry sycophant and Krugman are peas in a pod.

    Dustin (4237e0)

  6. which will inevitably result in violence

    Yeah businesses, keep those windows boarded up. That Trump inspired violence is gonna happen… any time now… really… beware… like soon… dang, hurry up already

    beer ‘n pretzels (042d67)

  7. Paul Krugman squandered the credibility which comes with winning a Nobel Prize (for from what I am told, is some interesting work on international trade issues) in order to be a hero to the left for feeding them lazy and inaccurate takes which comport perfectly with their narrow-minded worldview. What a waste.

    JVW (ee64e4)

  8. It is what it is. I take no responsibility.

    nk (1d9030)

  9. With less than 80 days left, there’s pressure to find more of “the best people” and show the public what they’ll be missing.

    John B Boddie (d795fd)

  10. As far as today, try to get through to a broker or get timely infomation on that trade that the website may or may not have taken. Schwab:

    We’re currently experiencing delays in the reporting of trade executions and cancel requests. This is strictly a reporting issue and does not affect trade execution. Please do not place trades again, as duplicate orders may be created. Also, clients may have difficulty reaching us by phone, and some online account information may not be available at this time. We’re working to resolve the issue as quickly as possible. We apologize for any inconvenience. For assistance, please call 800-435-4000.

    And good luck with that phone call.

    Kevin M (ab1c11)

  11. Panic buying.

    Kevin M (ab1c11)

  12. My advisor told me to hedge heavily in cash, accompanied with a personal screed against the president elect. That was Nov 2016, and fortunately I ignored her advice.

    beer ‘n pretzels (042d67)

  13. Krugman still thinks Palin shot Gabby Giffords.

    beer ‘n pretzels (042d67)

  14. The greater markets have been untethered from reality for a lot longer than Donald J. Trump was in office.

    Gryph (f63000)

  15. But I thought Qanon was anti-pedophilia.

    My worldview has truly been shaken to the very core.

    john (cd2753)

  16. who, by the way, is planning a series of rallies to try to whip up anger (which will inevitably result in violence)

    Many in the media warned of election violence. And we didn’t see it. So I don’t think you can use “inevitably” here.

    The only thing that has been inevitable has been violence in Portland, Seattle, etc.

    Hoi Polloi (7cefeb)

  17. That Trump inspired violence is gonna happen… any time now… really… beware… like soon… dang, hurry up already

    beer ‘n pretzels (042d67) — 11/9/2020 @ 9:10 am

    Indeed you’re right Trump inspired violence will happen. That’s clearly part of the deal.

    This idea that because the vast majority of Trump fans wouldn’t do that is an odd one (since the vast majority of Biden voters wouldn’t either).

    This election was a rejection of both fringes. We’re tired of the nuts.

    Dustin (4237e0)

  18. This election was a rejection of both fringes. We’re tired of the nuts.

    Dustin (4237e0) — 11/9/2020 @ 9:42 am

    We should really only be worried about one fringe. The fringe that continues to burn, loot, and destroy swaths of our urban centers. Unfortunately, the media and Democrats seem unconcerned about that fringe.

    I wonder why.

    Hoi Polloi (7cefeb)

  19. Ted Cruz was just fine that “the media” called the election–in the wee hours on the day after Election Day–for Trump in 2016. I pat myself on the back for good judgment of always being NeverCruz.

    Paul Montagu (77c694)

  20. We should really only be worried about one fringe.

    Well that’s what the fringes tell me.

    I don’t need fat slobs who hate blacks waving guns around. I don’t need young angry looters who hate whites running things.

    Moderates won this year for a reason. AOC’s ideology was also repudiated. You have much to be happy about, no sarcasm intended.

    But Trump is proof the insane fringe on his side is also a serious problem. Both are fueled by our nation’s enemies. There’s a reason.

    Dustin (4237e0)

  21. The best people… only the BEST:

    @Liz_Wheeler
    · 2h
    So Biden picks Zeke Emanuel for his COVID task force.

    Emanuel wants to die at 75.

    Argues that old age shouldn’t be prolonged.

    Says old people don’t contribute to society.

    Says he’ll refuse healthcare, even flu shot.

    But now he’ll “protect” our nation’s elderly from COVID?!

    whembly (c30c83)

  22. So Biden picks Zeke Emanuel for his COVID task force.

    Biden also selected the nut who wants doctors to be busybodies with their patients about guns.

    beer ‘n pretzels (042d67)

  23. Patterico, It’s funny but not surprising that Trump lied/was wrong and that his supports are incompetent.

    Reports that he’s not sure his lawyers are up to the task make a lot of sense after those lawyers held a news conference in the parking lot of a lawn scaping company and sex toy shop and prominently featured a convicted sex offender as one of their key accusers.

    Maybe the reason he’s been so ineffective is that he hires losers that are only in it for the grift?

    Time123 (d1bf33)

  24. O.o
    https://twitter.com/CiceroConsulta1/status/1325859099918041088

    Yikes !

    This is much much worse than I first suspected…..

    Costantino & McCall

    V

    Detroit Election Commission

    Download link (21 pages)
    Down pointing backhand index

    https://greatlakesjc.org/wp-content/uploads/Motion-for-TRO-Brief-Order-Costantino.pdf?x44644

    Whistleblower states:
    “When a voter’s name could not be found, the election worker assigned the ballot to a random name already in the QVF to a person who had not voted”

    whembly (c30c83)

  25. News of a possible vaccine is great!

    New of the Dow, eh, I’m glad it’s not crashing, but unfortunately, Wall Street and Main Street aren’t running on parallel courses.

    Trump’s recounts, eh. Let him recount if it will make him feel better. Recounts rarely turn more than 100ish votes and Biden is up +10,000 in all the states Trump would need to win. Essentially it’s a waste of time and money but whatever.

    Nic (896fdf)

  26. BREAKING: Secretary of Defense Mike Esper was fired by Trump this morning

    Knickerbocker Slobberknocker (27d313)

  27. Moderates won this year for a reason. AOC’s ideology was also repudiated.

    It might be nice if someone would tell that to Joe Biden’s brain trust.

    JVW (ee64e4)

  28. @26 I left my surprised face in my desk at work. He probably needed the endorphin spike he gets from firing people, or something.

    @27 The example they use is Biden’s green jobs plan. Its a fairly standard jobs plan, but if they want to placate AOC etc by pretending it’s super wonderful exciting, I can’t see the harm in that.

    Nic (896fdf)

  29. Moderates won this year for a reason. AOC’s ideology was also repudiated.

    Joe said he’d govern from the center, but I’ve seen nothing from the Democratic Party’s platform, or Biden’s choice of a VP candidate, to indicate as such.

    Hoi Polloi (7cefeb)

  30. Esper refused to deploy military forces to cities where looting/rioting was occurring, so this was Trump’s first chance to fire the guy without hurting his reelection chances.
    The next question is when he’ll pardon the convicted felon loyalists who said nice things about him.

    Paul Montagu (77c694)

  31. HUD Secretary Ben Carson tests positive for the coronavirus

    Secretary of Housing and Urban Development Ben Carson has tested positive for the coronavirus, a HUD spokesman confirmed.

    Carson, who tested positive Monday morning, was at the White House last Tuesday for an election night (superspreader) event, as was White House Chief of Staff Mark Meadows, who also has tested positive for the virus. Carson was around senior administration officials and other Cabinet members during the event.

    In a statement, HUD deputy chief of staff Coalter Baker said Carson is in “good spirits” and “feels fortunate to have access to effective therapeutics which aid and markedly speed his recovery.”
    …….
    Unlike the rest of us.

    Rip Murdock (d2a2a8)

  32. Cruz should have had the backbone in 2016 to call out Trump from the start of the primary…instead of when it was too late. His judgment on that is akin to Christie hugging Obama.

    AJ_Liberty (ec7f74)

  33. Exactly AJ.

    He’d have gone down in flames in 2018 (maybe). But he won an upset. He could have had self respect, and probably a happier home. His priorities in life are clear, sadly. the notion people inside the beltway didn’t like him because he’s a great reformer appears to be a mistake (on my part). People don’t like him because he is not a good man.

    Dustin (4237e0)

  34. @32

    Cruz should have had the backbone in 2016 to call out Trump from the start of the primary…instead of when it was too late. His judgment on that is akin to Christie hugging Obama.

    AJ_Liberty (ec7f74) — 11/9/2020 @ 11:27 am

    This purity requirement baffles me…

    The former needed to work with the cards dealt… that is, Cruz can advance his preferred agendas by working with Trump.

    The latter was the bloody Governor of New Jersy after a hurricane strike. Of course Christie would be “playing nice” with Obama as Obama had the keys for additional disaster fundings.

    whembly (c30c83)

  35. Joe said he’d govern from the center, but I’ve seen nothing from the Democratic Party’s platform, or Biden’s choice of a VP candidate, to indicate as such.

    Hoi Polloi (7cefeb) — 11/9/2020 @ 11:03 am

    Yes, you’re right. We will have a worse country if that’s how it goes. It’s up to Biden to see that. Whether Biden or Trump should be president is a decision in the past. It’s up to Biden to do the tough job he said he could. It is alarming that his campaign was lazy. An amusing statement, but that doesn’t matter, and hopefully the voices challenging Biden to be a better president than Obama are much more numerous and credible than they have been.

    It can’t just be the fringe talking. Defund the police and forgive student loans crowd versus the Muslim Ban and Beautiful Trump crowd need to be at the kiddy table.

    Dustin (4237e0)

  36. President Donald Trump said that he was confident that there will be a coronavirus vaccine “by the end of the year” – May 3, 2020

    “Folks. No miracle is coming.” – Joe Biden, August 20, 2020

    You bought him; you own him.

    Glorious.

    DCSCA (797bc0)

  37. It might be nice if someone would tell that to Joe Biden’s brain trust.

    Biden 101: some damage just can’t be repaired with surgery, JVW. 😉

    DCSCA (797bc0)

  38. A man living in the past, hoping for the end of the conservative movement?

    Nah, DCSCA, Biden is you. Without Trump’s supporters, Biden could never have been president. Look at his debate performance or his previous efforts. He had no chance without such an odd political movement that forced people of radically different beliefs to join and vote for anybody but Trump.

    Dustin (4237e0)

  39. @38. Cling to that deck chair, Dustin… the Carpathia is coming.

    You bought him; you own him.

    DCSCA (797bc0)

  40. Thanks for the prediction, DCSCA. I cheerfully accept full responsibility for Biden, as the price of stopping something very evil. I’ve said that for months.

    Nevertheless, you sure do remind me of Biden in a lot of ways. I mean no offense there. You guys would remember the same events and tv shows, and agree on a lot of outcomes.

    You might hope for disaster but I think a miracle is coming.

    Dustin (4237e0)

  41. @40. Remember, ‘with a 90% certainty’… “No miracle is coming.”

    ROFLMAOPIP

    You bought him; you own him.

    DCSCA (797bc0)

  42. “This purity requirement baffles me…”

    It’s not a purity argument, but a hypocrisy argument. Cruz sat meekly as Trump threw feces and made outrageous policy proposals throughout the primary events. While Rubio and Bush and others called Trump out, Cruz chose to do nothing figuring he would be the last man standing. Not until Cruz and his father were treated to similar disgraceful attacks, did Cruz find his backbone and lash out….to the point where it was unclear whether he could fully support the nominee afterwards. The calculation by Cruz was wrong….he thought he could beat Trump head to head…..and it was disingenuous because everything he unloaded about Trump was true from day one….but Cruz was not courageous enough to say it.

    Now I wasn’t drawing a complete parallel with Christie…because I don’t think Christie was hypocritical…..but he was definitely self serving….during a point in the election where Obama desperately needed a boost….he gave him one. He could have been appreciative without the gratuitous hug. My parallel was that both examples were inexcusable to me….Cruz held a big enough platform among Republicans to make the case against Trump….and he chose self….Christie gave the photo op he didn’t have to

    AJ_Liberty (ec7f74)

  43. Cuomo says it’s “bad news” that Pfizer announced a vaccine two months before Biden takes over because it means that the vaccine will be distributed according to Trump’s plan, which means a private sector delivery system (Rite Aid, CVS).

    Hey Andrew, just who was it that developed the vaccine, the public sector or the private sector? Dumbass.

    norcal (a5428a)

  44. 43. W/a gov’t contract incentive for purchase upon development. BTW, it’s a similar incentive that propelled Apollo to the moon. There’s nothing ‘unusual’ about it.

    Cuomo’s idiocy was inferring the vaccine project and subsequesnt roll out would be credited to Trump, not Biden–as with Nixon attempt to claim credit for Apollo over LBJ & JFK. The Big Dick had nothing to do w/it.

    DCSCA (797bc0)

  45. 3.Where does Rudy find these people?

    You ever been to Noo Yawk City? Anything – and anybody. is just a phone call away.

    DCSCA (797bc0)

  46. I like disorder in elections more than disorder at the border.
    I’m happy for Trump to stress test this new voting format because the chain of custody link seems weak. This is a unique election and proponents of mail in ballots will be thrilled with turnout and stick there.
    One of the great conveniences to this new type of voting is that you only need find 20 minutes over the course of a couple weeks to vote. This is safe and secure in my wealthy semi rural neighborhood (even though we use a PO BOX). Ballots sent in the mail are safe and secure here minus the odd ID thief.

    The trouble comes at old folks homes and large apartment complexes, large public housing.
    There are photos of ballots stacked outside the apt boxes, rumors of militant union nurse shops taking hundreds of ballots from the mentally incompetent patients in their care.

    Maybe none of it is true, but so what if its being tested. Its new system, what can it really hurt?
    My guess is Biden is inconvenienced. Big deal. Its better to make sure we’ve got this new type of voting right, and/or learn how to make it better going forward. Lessons learned etc.

    steveg (43b7a5)

  47. I *dislike* disorder

    steveg (43b7a5)

  48. 31.

    Washington Post:

    In a statement, HUD deputy chief of staff Coalter Baker said Carson is in “good spirits” and “feels fortunate to have access to effective therapeutics which aid and markedly speed his recovery.”

    Rip Murdock (d2a2a8) — 11/9/2020 @ 11:21 am


    Unlike the rest of us.

    That’s much more the fault of the Democrats and the companies, who don;t want t be on bad terms with the Democrats. Trump’s initial instinct was to make the therapeutics immediately available (there wouldn’t be enouh to go around, but there would be more than for just, few, politically connected, people.

    They didn;t object to a request just for Ben Carson because then it would be possible that Trump would push for wider availability.

    As it is the FDA approved the Eli Lilly antibodies just a few days later. They may be feeling some non public pressure. I would gess Carson gt the Regeneron, so they still have that.

    Meanwhile, everybody keeeps talking abou the vaccine which is NOT a cure – the antibodies would stop the epidemic dead in its tracks, if enough were used, and the supply could be stretched out by giving tiny amounts to people who might have been exposed recently. (there is no evidence for that beyond animal studies, but then there’s no evidence for 90% of what they are doing with masks and social distancing.

    For one thing. the advice never distinguishes between what kind of masks people wear, or whether they are also doing social distancing or not.

    It would be giving the people who issue these orders too much credit to say that the details of what is permitted and what is not are wild guesses. They are not even that. It’s just copying what was done elsewhere. Ranked according to notions of undesirability, not effectiveness.)

    Sammy Finkelman (00fff5)


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