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Dow skids 650 points, tech stocks battered as inflation climbs to highest in 13 years

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posted on May, 12 2021 @ 02:55 PM
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4.2% Infaltion


U.S. stock indexes fell sharply Wednesday, after a reading on inflation for the year to April climbed 4.2%, the highest rate in about 13 years, reigniting fears that the Federal Reserve may need to dial back its easy money policies earlier than expected.


That's really all that needs to be said, but the democrats "easy money" and all of their giveaways are tanking the economy and further dismantling the value of the dollar.


The U.S. consumer-price index rose 4.2% from a year ago, compared with average economists estimates surveyed by Econoday for a 3.6% increase. The month-over-month rise was 0.8%, versus a forecast for a rise of 0.2%. Overall, the rise was showed the fastest rate of climb since September 2008.

Transportation Secretary Pete Buttigieg said the administration understands Americans’ concerns. “We’ve seen that in a lot of the impacted geographies that this is a real issue, and that’s one of the reasons why we’ve been working with every lever of government that’s available,” Buttigieg added.


One of the biggest things we've learned over the past several years is that Washington democrats can tell you exactly what you should have done, but when it comes to them having the power to fix a problem, they can't do anything. They can tell you that they understand your concerns, but that's as far as they get.

This article was originally "DOW slides 500 points" when I began writing it minutes ago, I've had to change the title because it's nearing 700 points now with less than 10 minutes to go before it closes.

So much for the easy money, we've said it a thousand times on this forum, that if you start giving money away and handing away things for free, it's going to kill the economy and the value of our currency. Now here we are.

Thanks for nothing, Joe.


ETA: It closed, down 681.76 points.
edit on 12-5-2021 by LSU2018 because: (no reason given)



posted on May, 12 2021 @ 03:01 PM
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a reply to: LSU2018

It will all be blamed on Covid.

A lot of countries world wide are spending like crazy right now. This will dwarf the mess that they put the economy pre Covid and gives them an easy excuse for years and years of poor management.

They will blame it all on the virus even though most economies were unrecoverable before it ever got here.



posted on May, 12 2021 @ 03:05 PM
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a reply to: LSU2018

"Official" unemployment figures also don't take into consideration things like home prices, or the some of the biggest expenses for most people on a daily basis such as FOOD and ENERGY.

If it did include those items the inflation rate would probably be north of 15%-20%!

Unemployment & stimmy checks = more currency units chasing less goods and services and

PS I believe there were over $850 billion from "direct transfer payments" from COVID "relief" funds



posted on May, 12 2021 @ 03:05 PM
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originally posted by: NorthOfStuff
a reply to: LSU2018

It will all be blamed on Covid.

A lot of countries world wide are spending like crazy right now. This will dwarf the mess that they put the economy pre Covid and gives them an easy excuse for years and years of poor management.

They will blame it all on the virus even though most economies were unrecoverable before it ever got here.


Rest assured, they would have ALL the answers if they were in a position where they knew they couldn't get anything done. Frickin career politicians.



posted on May, 12 2021 @ 03:10 PM
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a reply to: FamCore

I found it interesting that the last time it was this high was when democrats controlled Congress and a democrat was leading in all the polls just before winning the presidential election. Our capitalist economy simply cannot thrive on democrat policies.



posted on May, 12 2021 @ 03:12 PM
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a reply to: LSU2018

There was a tag team on this one from two admins.

Both did a horrible job at protecting the USD buying power.

Both are giddy to point the finger at the other without accepting any accountability.



posted on May, 12 2021 @ 03:13 PM
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originally posted by: LSU2018
That's really all that needs to be said, but the democrats "easy money" and all of their giveaways are tanking the economy and further dismantling the value of the dollar.


The FED's easy money policy has been a mainstay of every administration since Reagan, it started under Greenspan and really blew up in the 2000's.

This isn't about Democrat 'giveaways', it's about the Federal Reserve purposefully keeping rates low to stimulate business investment. The issue is when an economic downturn occurs there's nothing 'in the tank' to use to offset the slowdown. Rates higher than we have now are good, they should not be in the low single digits, it creates poor spending and investment habits.



edit on 12-5-2021 by AugustusMasonicus because: dey terk er election



posted on May, 12 2021 @ 03:17 PM
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a reply to: NorthOfStuff

Anything they can do to help sell the great rest .. Here in Canada my kids grand children will still be paying off the debt from Trudeau . Our counties are broke and no end in sight to pay the bills . Not to mention with the lock downs and constant school closures many families are going broke . I think many people might enjoy the idea of the rest , while of course not really know what they are signing into when doing so



posted on May, 12 2021 @ 03:19 PM
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a reply to: NorthOfStuff

Anything they can do to help sell the great rest .. Here in Canada my kids grand children will still be paying off the debt from Trudeau . Our counties are broke and no end in sight to pay the bills . Not to mention with the lock downs and constant school closures many families are going broke . I think many people might enjoy the idea of the rest , while of course not really know what they are signing into when doing so



posted on May, 12 2021 @ 03:19 PM
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originally posted by: AugustusMasonicus

originally posted by: LSU2018
That's really all that needs to be said, but the democrats "easy money" and all of their giveaways are tanking the economy and further dismantling the value of the dollar.


The FED's easy money policy has been a mainstay of every administration since Reagan, it started under Greenspan and really blew up in the 2000's.





I've never seen as much "easy money" as I've seen over the past several months.



posted on May, 12 2021 @ 03:21 PM
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originally posted by: LSU2018
I've never seen as much "easy money" as I've seen over the past several months.


You're conflating two different things that are not at all related. The Fed's easy money policy has nothing to do with the budget or spending, it's an artificial rate control method meant to achieve a means.



posted on May, 12 2021 @ 03:22 PM
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originally posted by: CriticalStinker
a reply to: LSU2018

There was a tag team on this one from two admins.

Both did a horrible job at protecting the USD buying power.

Both are giddy to point the finger at the other without accepting any accountability.


They corralled us into lockdowns with free money offers via coronavirus stimulus packages in the trillions. It has extremely dismantled this country.



posted on May, 12 2021 @ 03:26 PM
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originally posted by: freedomSlave
a reply to: NorthOfStuff

Anything they can do to help sell the great rest .. Here in Canada my kids grand children will still be paying off the debt from Trudeau . Our counties are broke and no end in sight to pay the bills . Not to mention with the lock downs and constant school closures many families are going broke . I think many people might enjoy the idea of the rest , while of course not really know what they are signing into when doing so


Small businesses can't offer starting pay high enough to match what unemployed people "actively seeking a job" are making by sitting at home and clicking different jobs on Indeed.com to make it look like they're seeking jobs. Everything is falling apart and people are gaming the system while sitting on their asses.



posted on May, 12 2021 @ 03:27 PM
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a reply to: LSU2018

Jeff Bezos has now converted $5.1 billion plus this week alone of Amazon shares... one has to wonder if this is standard practice for him or is he converting due to anticipation of the market taking a big ole dip??



posted on May, 12 2021 @ 03:29 PM
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originally posted by: AugustusMasonicus

originally posted by: LSU2018
I've never seen as much "easy money" as I've seen over the past several months.


You're conflating two different things that are not at all related. The Fed's easy money policy has nothing to do with the budget or spending, it's an artificial rate control method meant to achieve a means.


Fair enough, I admit I don't know what the FR Easy Money policies entail. By "rates higher than we have now are good", are you referring to inflation rates? Also, why are they saying the easy money policies need to be dialed back?



posted on May, 12 2021 @ 03:34 PM
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a reply to: LSU2018

No, the prime rate, which the Federal Reserve sets policy on.

This isn't to say we aren't throwing money out the mofo'ing window but the Fed rates and the uncontrolled Covid spending of the last two administrations are two separate things.

The reason you'd 'dial it back' is to keep inflation in check which happens when people shift investments due to the rate increasing. Think if you were a prospective real estate buyer, do you want to get in when the rates or low or high? If you see they are going up you'll jump on real estate.

This is a bit of an oversimplification but is at the core of the easy money policy, the rates have been way too low for way too long and it really screws up the economy in several ways.



posted on May, 12 2021 @ 03:37 PM
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a reply to: LSU2018

By a show of hands, who didn't see this coming.


Even disagreed with Trumps actions on the fiat printer.


edit on 12-5-2021 by JinMI because: (no reason given)



posted on May, 12 2021 @ 03:38 PM
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a reply to: AugustusMasonicus

Two maybe three storms converging.

Rates, home scarcity and inflation of goods.

Not good.



posted on May, 12 2021 @ 03:42 PM
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originally posted by: JinMI
Two maybe three storms converging.

Rates, home scarcity and inflation of goods.

Not good.


Yeah.

My neighbor put his home on the market yesterday, it sold today for well over the ask. That's nuts. It's also indicative of a serious problem.



posted on May, 12 2021 @ 03:47 PM
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Imagine that, spending Trillions of dollars you don't have on complete BS items would have a negative impact on the economy.



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