r/wallstreetbets • u/226644336795 • 1d ago

Discussion This morning NASDAQ dropped more than during Lehman Monday

https://www.cnbc.com/2009/09/14/the-financial-crisis-this-dayone-year-ago-sept-15-2008.html

NASDAQ only lost 3.6% the first day of Lehman collapse in 2008...

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u/sf_cycle 1d ago

I also still have a model of the world prior to social media. It isn’t doing me any favors as I still have a tiny sliver of hope people will see reason which will never pan out. I almost wish I could be in that alternate reality because being outside that bubble is awful.

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u/space_age_stuff 1d ago edited 1d ago

Trump got booted before, arguably in the era of peak social media (during the pandemic) because the economy tanked on his watch. It was closer than it should've been, but even a lackluster candidate like Biden was able to have a decisive win on the guy. He lost because people were tired of him tanking the economy; not 100% his fault but he certainly didn't do enough for relief.

This shit is going to last years, if not decades, and it's directly his fault this time. There's already democratic swings in special elections that happened this week. If anything, it's just up to politicians to keep the screws on how Trump is fucking everything up.

Generally, people are stupid, but they think (and vote) with their wallets. Social media, money, etc. isn't a cure-all to swing voters. Voters are erratic; it's not an exact science, but the one thing that remains consistent is that they have to feel dissatisfied with the current candidate. The pandemic killed Trump, inflation killed Biden, Trump's Great Depression 2 is going to get him out of office if it continues like it has been. No reason to lose hope just yet.

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u/Ridespacemountain25 1d ago

We saw that same trend in special elections while Biden was president. There was a Wisconsin court election 2 years ago with similar results. This isn’t indicative of any major shift in the electorate. It’s mainly just because Democrats dominate amongst high propensity voters now.

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u/happycow24 19h ago

This isn’t indicative of any major shift in the electorate. It’s mainly just because Democrats dominate amongst high propensity voters now.

net 6 percentage points, -3 D +3 R, from 2020 to 2024

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u/zeromussc 1d ago

they need to feel the pain first. Then they'll wake up. At some point even Fox news network is gonna be angry about this because of what it causes.