The S&P 500 fell 151.23 points, or 3.9%, to 3749.63. The Dow Jones Industrial Average dropped 876.05 points, or 2.8%, to 30516.74. The tech-heavy Nasdaq Composite declined 530.80 points, or 4.7%, to 10809.23 (33% lower that the November record).
CNBC – […] U.S. stocks on Monday entered a bear market because the S&P 500 closed more than 21% below its all-time record close reached as recently as last January, S&P Global Dow Jones Indices senior index analyst Howard Silverblatt wrote.
Stocks had been flirting with a bear market for the past several weeks on an intraday basis, but had never actually closed below 3837, the level S&P Global needed to see in order to officially declare one.
S&P Global says a 20% decline in the S&P 500 on a closing basis from its previous peak is all it takes to define a bear market. Which means that this bear market is already more than five months old, since the S&P 500 all-time high came on January 3. (read more)
America’s misery is their pleasure.
America’s misery is their MISSION.
This is deliberate from Biden and the democrats.
It all starts with the war on energy.
Cloward/Piven. Theory of turning America Communist. Create economic chaos by overloading the debt of government freebies . Overwhelm the middle classes by making the impoverished , then begging for government rescue. ( see Venezuela, Cuba)
Saul Alinsky too. Scary times
I have been chatting with a coworker from Venezuela who lived through the destruction of a once prosperous nation.
He is horrified, HORRIFIED, by what he sees happening in the US today. It’s as if he is reliving his worst nightmare.
All of the government ploys and strategy are exactly the same. The impact on the country and economy is exactly the same
When people around us have actually LIVED THROUGH this hell, we should probably listen to their warnings.
Meanwhile, the commies focus on the frat party that was 1/6
Cloward / Piven is a must read. A short paper really. The paper was a recommendation for a test. the test was to bankrupt NYC by getting everyone to sign up for welfare. ACORN was the catalyst which did the activist work. By 1975 NYC was bankrupt. It was a plan and they showed it works. The next step was to bankrupt US, and take over.
Yes, the destruction of the US oil industry and the US economy is a win/win for OBiden’s handlers. That’s why they are doing NOTHING about it except to release Slap-In-Your-Face videos of The-Imbecile-In-Chief saying things like “Putin’s tax on energy and food are to blame for rising prices”. Let’s hope Biden continues to do nothing though, as for him to do anything he’s thinking of will surely make things much worse and not better. For example, as the country recedes into Recession & there are likely to be massive lay-offs as businesses try to stay afloat, (as in any Recession we’ve seen), Biden’s proposed solution to the problems in the economy is to raise taxes on “greedy businesses”, which of course won’t do anything but exacerbate the problem. EVERYTHING he does just pours gasoline on the fire. INTENTIONALLY.
Communism needs the economic destruction of the middle class. The Elite can’t have the serfs feeling empowered in any way. Why do you think small businesses were labeled “non-essential” & ordered to shut-down during the COVID lockdowns, while all the corporate owned Big Box stores were allowed to do business as usual? Most of the country saw those restrictions lifted after the initial COVID scare was over and states like Florida wised up to the BS, but here in CA these restrictions went on a lot longer. The result? Drive down main street of almost any CA town and it looks like a ghost town with a multitude of businesses shuttered permanently. Many of these businesses were owned/operated by families for generations. It is shocking and sad. Think that wasn’t intentional?
You have no idea how right you are.
Not really! Wall Street firms especially Goldman Sachs don’t make their big money and their partners don’t get $500,000 bonuses without cranking out IPOs and they don’t do IPOs in a bear market!
Putin is everywhere.
Does Snowball give him tips?
Animal Farm {updated] : “Whenever anything went wrong it became usual to attribute it to
SnowballBad Vlad . If a window was broken or a drain was blocked up, someone was certain to say thatSnowballBad Vlad had come in the night…It would stop tomorrow if our state department allowed it to. Putins not losing this and he’s very patient.
Actually, I think that is Mr Ed.
chuckling
I wonder who has taken a position on shorts?
BINGO!!! Elon Musk called out Bill Gates a few weeks ago for shorting Tesla while claiming to be “all in” on Climate Change…wonder who else in positions of power is short on Tech, Big Pharma, and Big Oil but heavy on Military Armaments and funeral homes?
That’s a good question for tom donilon and others.
FJB Lesko Brandon
😉🇺🇸
And long on gun manufacturers, knowing that every time they even TALK about new “gun reforms”, gun sales skyrocket, stocks go up and then they have their spouses, siblings or adult children straw buyer/investors cash in.
A handful of Pelosi, Biden, Obama and Hillary donors are short…. I’m talking Billionaires who invite the Democrat commies into their homes and do business behind closed doors where nobody else sees what they are talking about (that’s the real kicker), so not your average Billionaires!
Short broadly, long petroenergy. Making cash while prices fall, then use oil dividends to buy the economy while middle class sells 401k to pay the energy bills. You will own nothing. This is how they are doing it. They understand inelastic demand and base commodities. When plan is complete, they will refocus the consensus on energy and reset the strategy back to oil. This is the biggest headfake in economic history.
Fangdog, undoubtedly.
I have copied this from another thread I had posted:
“The Stock Market closed near to a low not seen since April 2021. There have been three significant Bear market rallies since January 3rd Stock market sell signal. These were retracement bear market rallies to what was once support levels which have now become resistant levels.
I see the Bear Market rallies to resistance levels as an opportunity to get out of the Stock Market at a much better price than panicking out much later on at much lower levels. The big deal will be the 30,500-support level which is where the stock Market went to today.
If 30,500 support does not hold then I don’t see further major support until 28,500. For the “Buy and Holders” none of this means much because they are in it for the “Long term”. Those in retirement are not so “worry free” as it pertains to their Stock Market position”.
Been in cash for the last year. Not sure who couldn’t see the risk rising right along with inflation. The odd or most controlled is precious metals. Usually this far into inflation, gold would be up far higher than it is. Been thinking that with Russia requiring gold backed currency, some group is choking that market.
Smart move on your part.
I especially started warning Treepers last Fall and even earlier to contact their Planner, Advisor, Broker and make sure they get their house in order. My long term sell signal came January 3rd. Obviously, you don’t have to be that precise to protect yourself.
You were spot on.
The real sell signal was Biden inauguration.
That’s when I exited the market. Now more of my money is (income) tax free.
The last support level was about 33000. The next one may be as low as 18000. Maybe 26000. maybe.
I don’t see 30,500 as a support level. Especially not in June.
Busting below 34000 last week was a very bad sign. I think we are just beginning to see some real damage.
At this point, who will buy?
To my way of thinking, that particular aspect of the stock market is “pure gambling,” which I do not do. I limit myself to well-established mutual funds, but I am buying shares in those funds even though their prices (also) are going down right now. Expecting a return several years from now, and willing to wait for it.
It is not gambling if you have the Administration and the Federal Reserve doing your bidding.
It seems most people seem to do what you are doing.
If by “several years” you mean 20 or more, maybe that will work. After the 1929 crash, people who held their stock didn’t get back to where they had been until something like 1953.
Also, mutual funds are problematic in and of themselves with fees, etc. You are best off with an S & P stock index fund.
Shorting in size certainly worked well for Old Joe Kennedy and his psychiatrist back in the day.
“Fundamentally change America…” Dr. Phil asks: How’s that working for ya?
Answer: Great, “we had to burn down the village to save it!”
White is black and black is white…Bill Clinton feels your pain, what’s not to like?
Keep in mind the way to really solve the homeless problem in America, today, is to gather up the homeless, take them across the Rio Grande into Mexico and then claim their is a caravan coming to the border of the USA, claim political prisoner status and BINGO…get a smart phone, clothes, money, food, shelter and a free trip to wherever you wish to go!
I love Amerika…let’s use $100 bills to start a campfire while we hunt for some food…Ask Pelosi’s husband to bring the wine!
I’m starting to use Hank Williams Jr hit song as an instructional skills list.
It has to be back on it’s way to No. 1
Stock markets down and you’re only gonna get mugged if you go downtown. . .
Almost prophetic.
A country boy will survive
FJB LESKO BRANDON
😉🇺🇸
Honestly, things aren’t much different from when Roger Miller sang, “Two of pushing broom buys an 8×12 [sleeping] room”. That’s about the relative value of those two things all the way down to today.
It’s just the numbers on the bills in your wallet that are different.
“we had to burn down the village to save it!”
Hell, worked in Vietnam, right?
No, wait …
Stock market != econoy. The DJIA has been artificially inflated for years due to corporations buying their own stock with easy to get credit.
With rising interest rates, corporations are going to find that more difficult to do, ergo stock prices will fall.
Yes, a lot of retirement funds are invested in the stock market, but that is because the stock market has been the only place you could get a return over 3% or so since the 2008 real estate bubble crashed. Why? Prime interest rate has been below 3% since 2008, ergo traditional bonds and other interest bearing instruments have low interest rates.
I had a savings account that paid 5.75% interest in 2007. You haven’t seen a savings account pay interest like that ever since.
Dumping government bonds
Yes, then there are all the 401ks that force you to be in stocks. My employer requires anyone 35 or older to participate in the 401k plan, does not allow withdrawals unless you quit or are fired, and invests your money in stocks.
The 1st issue might be rare, but lots of employers do not allow access to your money and force it into the stock market.
All part of the multi decade sheep shearing plan.
Pensions? We don’t need no bleedin’ pensions!
I don’t claim to know what is happening now, but: I was in a 401K until December of 2014. At that time, once you were , I think, 59 1/2 years old, you could take out money without any penalty. If you were under that age, there was a 10% penalty fee. You could always “roll it over” to an IRA without penalty at any age.
Oh if I quit my job I could roll it over, but as long as I’m employed there I can’t touch my funds except for a loan to put a down payment on a house or a loan for college tuition. That’s actually pretty common out there.
You mean you have no portal to modify YOUR MONEY and sideline it? I can’t imagine my employer holding my investments hostage. Not saying it’s untrue, it just floors me that a company can or would do that to people.
As a good friend said to me near the end of my career “Corporate America took the N out of FUN and left us with the rest”
Once upon a time it was better or at least not as bad.
No, some plans had twelve or so different funds to invest into. Bonds, stocks, with various level of risks.
Without a Money Market or US Treasury Money option? It is stunning to me only because I had the option in mine. Can’t imagine the frustration of being trapped into a situation without. I sympathize with you.
I used to hate 401ks for that very reason. Law required you could only invest long. Some new workarounds now in play. For example you can buy long an ETF which is focused on shorts.
There was a reason for that, when our government wanted the people to spend, they lowered all the interest rates in the banks. They despise hoarding money.
Type in “The Velocity of money St. Louis Fed”. It peaked in 1997.
Type in “debt to gdp ratio St. Louis Fed”. You’ll see that no matter how much they print, the confidence has been declining since 1997.
Even the Credit Unions have shrunk their interest to the lows of Savings Banks, in the vicinity of 0.5%.
I currently get 0.10% from Navy Federal Credit Union. They might as well not even bother. Most years since 2007 NFCU hasn’t even sent me a 1099INT.
I once had a five year CD that paid 9% plus they threw in an Apple 2C computer. This was back in 1988. Of course our home mortgage rate was about 8.5 %.
A green economy is a slave economy. How much longer until President Trumps gains are erased?
I give it less than 2 months. I believe when he was elected tut he Dow was under 20,000
President Trump’s gains were erased beginning on Jan 20, 2021. And yes, a green economy is a slave economy. It only benefits the oligarchs, who flaunt climate change dictums to our collective faces. They fly private jets, sail yachts, own numerous properties on the oceans, and have fleets of gas-guzzling vehicles to accompany them to “meetings.”
That’s where it is all headed
Buying on margin calls is easy. Selling not so much.
At first look Biden appears to have failed in every aspect of his illegitimate governance
On second look it becomes apparent that from their viewpoint this is an outstanding success.
They probably think it has been a smashing success
Can’t listen to them anymore, they grate on my last nerve! No surprise Joe just keeps on going and all he touches dies.
King Merdes.
Well done. That’s a meme right there.
Him and his rancid family.
The kids in Crypto-Club are getting one massive smack-upside-the-head. “Wait, isn’t this insured? Or something? “
Who would have thought that inflated currency buying intangible digital assets would devalue? Tangential thought, if buying a digital currency removed the dollar from circulation that was used to buy it, would it have had a deflationary effect on the dollar? How do you transmute a worthless greenback into a new currency with worth, but that new currency will hold it’s value? What’s stopping us from backing the dollar with a combination of gold and commodities like BRICs is doing?
The government have need to stop spending & they can’t. Politicians love it too much!
Uh… The US gold is only on paper.
Yeah, no FDIC involved. You lose, you REALLY lose.
Bit coins are getting bitten!
WOOHOO
They can’t hide inflation, they can’t hide a bear market, they can’t hide recession. And it’s only going to get worse. Buckle up deplorables. The lies have caught up to our government and their media partners. They have no where to run or hide. Now you will see how utterly capable the government and media is at making much worse than imaginable. The agenda driven madness has finally caught up to them.
If it were not an election year they flat out would not care.
If they retain power in 2023 they flat out will not care.
They will push as much through as fast as they can, win or lose.
Thought they already flat out do not care.
That’s the reason for the push, right?
They think they will steal all elections.
Stock mkt, IMO, will see another 15%-20% decline, esp. NASDAQ. If China takes Taiwan, who knows how much the NASDAQ will fall.
The stock mkt. was way overpriced. Way overpriced and pumped up with the money printing presses.
The bubble is now bursting.
Powell does not know what the hell to do. He caused this fiasco by not not acting 18 months ago. Interest rates should never have been zero. Free money is never a good thing. And that’s what zero interest rates were.
Yes. The Oracle of Omaha declared that the DJIA was overpriced by 30% when it was at 18k.
When. Not if.
If China “takes” Taiwan, the stock market losses will pale next to the threat of war….even conventional war.
If China moves on Taiwan, this will be very bad. 85 to 90% of all chips in US are made in Taiwan. You won’t be able to buy a new car. (phone, computer, camera, video game, …) No new production, and what little there will be will be sky high in prices. Of course, jobs … what jobs?
Goin’ out on a limb here and guessing that the overwhelming majority come November are going to throw Roe-v-Wade/proper pronouns/Drag-Shows for kids etc. under the-bus and vote with the empty wallets, bank accounts and 401Ks-
And democrats along with their media allies will cheat as hard as they can.
So in other words, the usual.
I pray that happens. The only people arguing for R v W, pronouns, drag shows, etc are the big corporations and the fake “exempt status” non-profits. And they are all paying their minions (low life suckers) to go out and protest with their “commercially” made signs.
That’s the illusion. The Democrats understand the long game. Use your media stenographers to trash the republicans in power until people vote them out. In comes a Dem President and Congress. Lock-in as much of their agenda as they can, regardless how unpopular. Pin your ears back when the people throw your majority out in its ass. Then wait another 2-3 election cycles as the republicans do little or nothing to roll back your gains. Then smear and libel them all the way until the people vote them out, ushering in the next cycle of leftist abuse of the republic. Rinse. Repeat.
This is why The Obiden/Pelosi regime governs fearlessly, with reckless disregard for the polls.
Back in 2007, Chuck Schumer bragged that they’d pick up 10 more seats for every 1,000 point drop in the Dow…
There are now NO major economic indices pointing to a healthy economy.
Not one.
FJB?
I say Down With Joe Biden.
Yes, that was their way of trying to keep the suckers on the plantation. Well, it’s no longer 2007, 2008, 20012. We figured it out in 2016, much to their chagrin. Yet they cheated their way in, in 2020. WE WON’T GET FOOLED AGAIN.
They also cheated in 2018.
A feature not a flaw.
Things are getting so bad here Californians are moving to Mexico for a better life.
Smithfield Foods will shut down its Vernon, California, plant and scale back operations in California, Utah and Arizona, the company announced Friday.
Smithfield “will cease all harvest and processing operations in Vernon, California in early 2023”
sync:
link?
source?
where is the quote from?
Hope this does not effect you
https://www.smithfieldfoods.com/press-room/2022-06-10-Smithfield-Foods-to-Close-Vernon%2C-CA-Facility-Reduce-Hog-Production-in-Western-Region
We buy from our local Amish butcher who raises his own product and buys from his Amish neighbors.
He sells pork, chicken and beef.
Lucky you!
All over every conservative outlet; Lucianne, Citizen Free Press, Rantingly, Revolver, pro Trump news, Breitbart. Just to name a few.
Just google “Smithfield.” It’s in the news.
Are they owned by the chinese?
Yes
Yes. Smithfield Foods was founded in Virginia in 1936, but the company was bought by WH Group, formerly known as Shuanghui International, for $4.7 billion in 2013.
Smithfield became a subsidiary of the publicly traded Chinese corporation after the Committee on Foreign Investment in the United States (CFIUS) said the acquisition would not endanger national security.
And while the Smithfield subsidiary headquarters is located in Hong Kong, the parent company, WH Group, is headquartered in….wait for it…..the Cayman Islands.
https://marketrealist.com/p/why-did-smithfield-sell-to-china/
Be a good treeper and stop using that search engine, please!
I read the article on that earlier today. The company made clear it was due to the cost of trying to do business in CA, but the article was full of excuses on supply chains, etc., causing the cost to go up.
They did finally get around to mentioning a couple things other than supply chains, but the author clearly wanted to cover for leftist policies.
From the article:
“Adding salt to economic injury were utility costs in California, which, according to the company’s spokesman, were 3.5 times higher per head than those in the 45 other plants in the country run by Smithfield.”
https://slaynews.com/news/americas-largest-pork-company-shuts-down-california-plant-high-costs/
Yes, they will cover for Left Wing policy. But the bottom line is there are multiple reasons, some you listed, for closing the CA site. Smithfield is CCP owned. Currently, NO business in CA can make a profit with their lefty rules and regulations.
Personally, I’d like to see ALL businesses in CA flee that Commie State. That would leave Silicon Valley and Hollyweird to pick up the slack in taxes. See how that works out.
By law, as of January 1, 2022, pigs sold in California must be raised in bigger hog pens—20% large than the 20-square-feet standard used elsewhere.
If I sold hogs in California like Smithfield does, my operations would similarly relocate.
So if Smithfield buys from farm in Iowa and sells in California, Smithfield must prove the size of the hog pen the Iowa farmer used?
There are SRO hotels in New York less than 20 sq. feet.
I believe its only applicable to animals harvested (slaughtered) in CA. So not applicable to Iowa harvested meat that is then sold in CA
Gg … do you have a link for this info to share with us?
https://slaynews.com/news/americas-largest-pork-company-shuts-down-california-plant-high-costs/
Why do you keep asking for links? You do know you can put one word into a search engine and find it yourself, right?
yet while out today I still see idiots lined up at the Starbucks drive thru 15 car deep waiting, and burning gas idling..to pay $6 for sugary coffee drink…smh..and gas is $6.50 a gal here
And the truly frightening thing about that is…they vote.
These were most likely the same people booking airline flights today
Exactly. IDIOTS. 3 months from now, they’ll start brewing their coffee from home, like most of us do.
There’s a lot of people still unaffected by the price increases.
Maybe you just, but I know 3 Canadians from my neighborhood that now spend 6 months of the year, and they tell me they have a far better access to medical care than here in Canada.
They are retired, saved and invested well.
Well only the light skinned European Spanish are probably left in Mexico, we’ve got all the criminals and freeloaders now. Mexico is probably turning into a very desirable locale
One of the our neighbours owns a place on the Baja ( San Jose Del Pedro)
We stayed there before the Scamdemic hit.
We know the country is run by the Cartels etc. and of course one needs to have money to live well.
That said our country ( Canada) is more tyrannical.
Neither the wife nor I can leave the country as we are and will continue to refuse the poison needle.
Frankly, financially and weather wise we would do fine.
American and Canadians are walking up to an inconvenient truth that our leaders are tyrants.
Let us look no further than the Jan 6 inquisition and the gaoling of our Freedom Convoy participants in Ottawa.
Cheers!
I used to have a client in Canada and he was always chastising me how great
the health care in Canada was compared to the US. This was approximately
ten years ago. One day I asked him specifically what Canadian health care
services he had used. His response was that he was extremely healthy,
in good shape and never had to use it.
IMO the health care system is okay.
But I don’t expect much as I was born in the U.K. and lived with it National Health Service.
We live in a decent neighbourhood and a decent hospital is a 5 minute walk from our house.
However all our health care facilities are grossly understaffed, funded etc. and a breaking point is not too far off.
The American style hospital we toured in San Jose Del Cabo was far superior to anything in Greater Vancouver B.C.
Of course that was available to only well insured and monied folks.
A Mexican we befriended took us for a drive a couple of miles out of town and into a Barrio and that was of course a different planet.
Cheers!
Or if he did, he went to US to get it.
Many are working remotely!! Thousands!!! 50% less to live in México
🇲🇽 But leave liberal thoughts @ the southern border por favor.
Liberal thoughts…them would be nightmares.
I have never had one 😉
Cheers!
At least they stopped coming to Colorado.
Been going in for decades!
I know!
Small companies didn’t build build their businesses, so government interferes with the market to bankrupt them.
There’s a lot of worry out there when economic conditions might affect Wall Street. Doesn’t matter if it affects Main Street.
Biden is secretly telling US companies to buy more Russian fertilizer, according to Bloomberg. Guess the looming food shortage and looming price increases are causing some consternation, enough to be willing to deal with Russia in order to take care of the US.
Libya is shutting down most of its oil wells, losing about 1.1 millions barrels a day, according to its oil minister, Mohammed Aoun, which is going to further affect the price of gasoline. Nothing but inflation in sight.
That right there shows how damn foolish his entire administration is.
As if buying fertilizer now is going to help anything when most crops have been planted.
And when his quiet begging does nothing, he will blame supply chains.
Fertilizer is still needed throughout the various growing seasons.
Stupid to put oneself in the position to feel the need to ask for help from a leader one has relentlessly demonized and is instigating a potentially nuclear war with though.
I don’t disagree, but for the most part, planting is long over when a majority of it is used, and will not be available as early as it will be needed throughout the season.
It’s much like the reporting today on shale oil when these clowns thought they could just wave a magic wand and oil prices would drop.
Do you think they really expected results from these all too late pleas to extract themselves from the consequences of their follies?
Or is it just more gaslighting?
I think they are scrambling at this point. The baby formula issue kind of woke them up, but like baby formula, oil and gas prices, inflation in general, they are moving enough to make it look like they are doing something.
They just are not moving enough to convince anyone.
That old Dementia Shuffle.
Think about next year’s crop. This food crisis may get much worse.
Interest in the Ukraine is waning. Everybody has been paid off.
Now the focus is switched
Oh boy, they’ll have a ‘strategic bilateral dialogue’. That’s a long ways from a signed, meaningful ‘security agreement’ that may or may not be honored.
”Putin did it.”
She looks like she is taking orders for lunch, super sized fries.
She should be at any rate…
I know several old (closed minded imo) amateur investors who assure themselves ‘the market will
Come back.’
I wonder what planet these people live on. how have they have existed for so long not understanding concepts of wages inflation debt unemployment — and how they affect company profits and the djia.
Some of them explain to me there will be a huge red wave in November and happy days will be here again. I am astounded by this belief of an impending miracle and 180 degree realignment of political forces and trends.
They were telling me 3 months ago that Putin was toast and had miscalculated badly. Sigh.
Denial is a powerful mindset.
Thank God for these kind of people or I would not have opportunity.
Best of luck with opportunity that hinges on a rebounding stock market with $8 gas and inflation with no end in sight and a consumer economy in which nearly everyone is going to tighten their belts like never before.
As for me I’m shorting the s and p. It’s just business.
There months ago covid faded off the news cycle, the week Russia went into Ukraine. So Ukraine gets its $40 billion and now it is fading off news cycle.
What’s next? School shootings? Taking away guns?
Just curious how the leftists infesting government and unions who have their 401k’s invested in the stock market are liking their leader now.
Union leaders get paid regardless.
Boxer Jake Paul blasts Biden for gas prices, inflation, claims Biden voters are ‘the American problem’
https://www.foxnews.com/media/boxer-jake-paul-blasts-biden-gas-prices-inflation-voters-problem
Old Joe and his gang trying to turn a 401k into a 201k.
But, with inflation, shouldn’t it be a 801k, but only WORTH 1/2 as much?
But we know who really is to blame for this.
“Finally, Summers has found a new culprit behind America’s inflation crisis: Republicans who downplay the severity of the January 2021 US Capitol riot.”
“I think the banana Republicans who are saying that what happened on January 6 was nothing or OK are undermining the basic credibility of our country’s institutions,” Summers said on Sunday in a CNN interview.
“And that, in turn, feeds through for inflation. Because if you can’t trust the country’s government, why should you trust its money?”
(Hat tip to zerohedge.)
🤣🤣🤣
It no longer Putin’s fault. It’s the J6’rs!
Well…….I’m sure the committee will find that the J6’rs were all actually working for the evil white supremacist Putin!
Summers is a jerk. Just another shill for the DS, trying to cover for the disaster the Obiden regime has leashed upon us.
Clintonista.
The era of the middle-class
Republican was the 1920s and the Trump years.
Followed by the fascist years.
A few rich and many poor.
The depressions have proven fatal to most rich.
The rich have now understood how to transfer the wealth of the middle class to themselves. Such wisdom.
So now is the time to buy, right? /s
This time there will be no recovery.
not yet
No!
Gold
Isn’t this the economy they want? Are they going to claim that they are damn mad about it and take responsibility and action, or are they going to harp about corporations and Putin and smirk some more about delayed treadmills?
I think I know the answer. FJB.
They can do whatever they want and they know it. We can’t vote them out
We have one venue for hope. That is we have states and state governments. If states can hold the line out country can be saved. Which implies, move to a red state, the blue states are failing fast.
Does Jean-Pierre not know anything or not understand it? Do they tell to read her statements because the don’t trust her to speak on her own? Diversity hiring at its best!!!
I know Sundance has written lots of very interesting and informative articles on Wall st vs Main st. Years ago he wrote on on how Wall st had become, in essence, a gambling casino. People were trading on wagers, not on the real value of a specific stock.
I searched, but don’t don’t know what I am looking for. I wonder if that betting game is a part of what is happening on Wall street now.
Anybody know?
Yes, drive the market down and collect profits by shorting the market: that is their strategy.
It has become a casino: few people seem to be investing for the long term to collect dividends.
Buy and sell or sell and buy within a few minutes to take advantage of micro-changes in the price.
Buy a million shares, watch the price rise e.g. 25 cents because you bought that million shares, then sell immediately…
…and pocket the profit.
thanks
I suspected as much
Steven Hayword at Powerline has a post: Five observations for Monday. His first item – Finally a stock market I like
I don’t know what his statement means, but it got me remembering Sundance’s post
I think Sundance article ms. idaho is referencing was talking about dirivatives; you don’t buy the stock, you make a side bet on whether its going to go up or down by a certain amount in a certain time frame.
Then two other side bettors bet whether you will win or lose, and so on.
Its insane. a real “crapshoot”.
Which got exponentially worse when banking institutions were allowed to place bets with our bucks.
Finally a market connected to reality.
It is called “Day Trading” for a reason. Day traders do not stay in a position overnight. They are in and out the same day. I know because I am one and have been for years.
Day traders provide liquidity for long-term investors who can get out of the market when they want to get out of the market. Otherwise, who knows when and what price you can liquidate when you want out of the market?
Just remember the IRS’s wash rule…I was unaware of it, and thought “this is too easy” –and, indeed, it was.
“[H]e wrote on on how Wall st had become, in essence, a gambling casino.”
Gambling is an assumed risk, whose outcome is a Zero Sum Game.
Capital formation is an unavoidable economic necessity, which is of benefit to both buyer and seller.
As you can see, the gambling/ investment analogy does not hold water.
You could as readily say that flirting is dangerous, therefore no sex is like insurance premiums.
There is a lot of bad economic analysis to be found and scarcely ten men in a thousand who can identify and refute it.
I would agree if capital formation was meant to be used for productive purposes. Unfortunately now you see capital being used for things like stock buybacks to artificially inflate their prices. Once that path becomes the larger of the two the stock market does become more of a casino as the underlying risk isn’t adequately accounted for, usually due to euphoria or belief “we’ve reached a new permanent plateau (1920s)” or “the internet has changed how business is done (dot com)” or…or…or. Euphoria and a belief you can’t lose has resulted in a gamble on which company can leverage their positions best to effect their stock price. It has also lead to inefficient allocation overall of capital in the mainstream economy (BTC). To be clear, however, I am not saying there aren’t any investable companies. I’m saying they’ve taken a backseat to the stock buyback (and similar financial skullduggery) companies.
ms Idaho…
https://theconservativetre
ehouse.com/blog/2018/11/20/entirely-predictable-tech-stock-devaluations-sink-u-s-aggregate-stock-market/#more-156903
2nd ♦️
This is what happens when you have ideologues who don’t care about American citizens.
The Americans who saw America through the storm of the Great Depression were Americans who believed in capitalism and freedom and most of all, in liberal democracy. Do you grasp that? They were perhaps progressives, but they were not socialists. Massive starvation and suffering had already descended on the Soviet Union thanks to socialism, and despite the prize-winning efforts of Walter Duranty, this massacre was known.
Once again the leftist miasma has blanketed America. But now, the voice of reason will not penetrate. I doubt Tucker Carlson, and a few others, will be heard.
Do your part, children, and do not listen. Very few voices in the mainstream media should be harkened. Stating the obvious. They can broadcast garbage, but they cannot force you to listen.
“ The Americans who saw America through the storm of the Great Depression were Americans who believed in capitalism and freedom and most of all, in liberal democracy. Do you grasp that?”
Not true. Nearly every measure enacted during the Great Depression was aimed at crippling the free market.
Roosevelt’s National Recovery Act closely resembles Mussolini’s fascist economic model.
The goal was to place all industry into various cartels, which were tasked with making all wages, prices and products uniform within each industry.
This was intended to minimize or eliminate competition, which was credibly seen as leading to cheaper commodity prices.
The fascist organization of industry was meant to put a floor under prices so as to keep prices artificially high.
The USSC overturned the law. Roosevelt responded by threatening to pack the court.
Roosevelt was actively hostile to private property and the rule of law.
Suggested further research: Wickard v Filburn where Roosevelt’s Agricultural Secretary insists that a man who grows wheat to make bread for his family and have some left to feed his chickens is engaged in interstate commerce and Washington, DC can assess him a fine.
This is liberal democracy?!
FDR secretly envied Hitler… he gets credit thanks to liberals writing history books. Absent entering WW2 and the ensuing war economy followed by the US being the only (mostly) unscathed economy created a boom for us. Take any of those 3 out and we are not where we are today (and not 1 really has to do with FDR unless you wanted to debate if he let pearl harbor happen after effectuating the oil embargo on Japan, but that’s probablybest left for a different conversation…)
He sure loved old “Uncle Joe.”
Biden: A One Man Wreaking Machine.
Wreaking wreckage daily.
Of course, we know he’s just the rotting meat puppet for Team Zero.
Federal Reserve 0.5% interest rate increase will do nothing.
Inflation is a lot higher than the phony CPI of 8.6%.
Inflation is well above 35%. The price of everything from
Homes to food to gasoline is constantly going up.
Price is no longer Stable.
Democrat politicians will economically destroy the USA.
It’s not just the Democrats, Ocean. The Republicans contribute just as much. We just choose not to see it, imo.
Next stop – raise interest rates to slow inflation via recession; layoffs, slowed spending, forclosures, declining home values, further declining 401k’s and IRA’s, people feel less wealthly and spend even less, push back retirement. Rinse, repeat. Deja vu all over again. Hey, when’s the next stimulus package?
There are only two options: a deep recession or a hyperinflationary “crack-up-boom”.
Hyperinflation will destroy the Fed but a severe recession will ruin the lives of career politicians.
This dilemma should provoke a lively knife fight. Let’s hope both participants lose so much blood that they can no longer make trouble for honest men.
A war will pep it up.
Going Nuclear?
There are places to invest but honestly, if the intent is financial ruin of the country (and western world), and it appears to be, it really won’t matter much in the end.
I believe their ‘reset’ is hitting some headwinds. Many entities trying many things all competing for their piece of the pie. They’re using trial and error but will not give up. In the mean time many people will suffer and die until it fails and collapses. Worst thing is they don’t care about the carnage, just the end goal.
All true. Sadly, all true.
hasn’t their motto always been, ” by any means necessary “..
This is what pure evil looks like, and it’s only just begun.
Stolen elections have consequences.
Joe has Lied, Cheated & Stolen his entire life.
Al Capone only operated in Chicago. Joe Biden operates nation and even world wide.
Cicero, only municipality that allowed Thompson’s for private ownership.
Which made it interesting for all the people on his payroll.
Thank you Fangdog
for all your good advie
advice (too much caffeine today; can’t type)
Be careful with my advice. As someone has previously stated, my advice is worth exactly what I get paid for it….”nothing”. Lol
Buy Oracle
I suspect yet another reason Biden/Obama team are destroying the stock market/economy of US is to attempt to dry up donations to Trump and other patriotic candidates. They know Trump counts on many small main street donors who run their own businesses. Dems have will not be hurt as much by this economy as they dominate gov jobs, big tech, big corp jobs. Very clever and evil . Satanic!!
Good point, hadn’t thought of that!
I recall when Obama tried to destroy the auto industry – I always thought he did it because
most owners of auto sales companies contributed to republians.
#BidenBuiltThat
Biden combines the worst characteristics of Jimmy Carter, King George III and Al Capone.
It doesn’t matter what or who Biden. What matters is the 2020 fraudulent election. It is the fraudulent election which facilitated the overthrow of the Constitutional government for a Totalitarian government. ….and that is what is known as TREASON.
One weekend, 48 hrs. One squad Teams. Illegal governments deserve only the best service.
Three-day trials, immediate sentencing. In 1776 era, treason penalty was death.
Unexpectedly.
I have been riding down with SPY Puts the entire time. Pop this everything bubble once and for all .
We have a lawless administration, a lawless government, every facet of government has been weaponize against the Law abiding American people.
No way that this country will survive until January, 2023 at this rate, let alone until January 2025.
They are pounding us harder than Putin is hitting Ukraine.
Best thing I did all year was going to an all cash position in December.
For those that do not understand,
The long term trend I.e. monthly, Quarterly, yearly, are not even close to bear market.
For those who understand jet skis or just water skiing, you can turn on a dime in the water. An aircraft carrier cannot.
They need the Majority to believe the markets are heading down so when the bottom sets in, the momentum to the upside will be created from all those still hanging on to their positions and won’t believe the markets will make new highs.
I trade everyday, long and short, so for someone like me, it does not matter the direction.
I’ve paid my tuition fees more than I care to admit, so I think deserve the earned experience I gained over the many years of trading.
Economist are nothing but blowhards who have no trading skills whatsoever. When E.F. Hutton talked, I RAN!!!
Here is my favorite blowhard of all time.
Surprising how many in the financial media offer their advice, without ever being called out on that bad advice.
Peter Navarro, a university professor and economist, has done fairly well in the market. He was three or more months ahead on when to short stocks, and he was right. Navarro once again made a bundle.
I’m happy for him. He will need it for legal fees.
No your are not and your not a fan are you.
Much more downside to come to about 1920 on the S&P. Could be quick over months or it could be drawn out over several years.
S&P is at 3750 today. I see this going to 2200. Don’t like it, but what good news will kick start the market? Nothing on horizon that can be good news. Inflation, unemployment, food shortages, election fraud, housing market soon to be flooded, mortgage rates doubling from a year ago (less people can afford to buy), student loan forgiveness, minimum wage going up, factories leaving US, more people retiring and less working, world wide food shortages, immigrants flooding the borders.
A 2022 re-taking of Congress? We need more than this.
The younger retired baby boomers may have to reenter the work force, their savings are getting wiped out.