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

a reply to: AugustusMasonicus

Sold mine 1.5 yrs ago in 4 days for the asking price which was a good chunk larger than bought for a couple years prior to that.

Smells all too much like 2008.

a reply to: LSU2018

Average people are feeling the inflation, and they are not happy.

originally posted by: LSU2018

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.

I'm not going to argue that these policies aren't disastrous, because they are. And I won't defend on side, because I believe they are both at fault.

Trump and the Republicans helped push through bailouts though theirs was aimed more towards the corporate side of thing and the democrats looked at gimme dats for people... Both have arguments for them, and both are flawed.

My point is that OP seemed to make this a Biden thing, which it partially is since no one asked him to run, that was his decision. But a lot of this was already in play before him.

Lest us not forget, we were breaking spending records under Trump before covid, and with tax cuts.

This was a long time coming and made worse by COVID.

originally posted by: JinMI
Smells all too much like 2008.

Yeah, the auguries are not good.

a reply to: CriticalStinker

TLDR;
Govt spent what they didn't have on things they don't need.


Pop quiz, what happens when you or I treat our finances as such?

originally posted by: JinMI
Govt spent what they didn't have on things they don't need.

While loaning money out for practically nothing and encouraging poor investment behavior. That's the second part of this equation.

a reply to: JinMI

Smells all too much like 2008

There are large actors playing in the market with leveraged cash that they borrowed, we're talking multiples of any collateral they actually have.... And they're playing with equities at record highs after an economic black swan event....


It doesn't look good.

Great time to BUY into the Dip

trying to decide If i do a 1 time BuY on Thursday or wait for Friday (which suggests the continuing down market is in correction mode & not just a 3% dip that quickly recovers


2k is a lot to myself as a buy-&-hold kinda guy

a reply to: JinMI

Pop quiz, what happens when you or I treat our finances as such?

We get ruined.... Then declare bankruptcy, and the amount in the red gets pushed through a bureaucratic magic act to pretend it didn't exist.

Unfortunately at a government and societal level we've normalized maxed credit and living paycheck to paycheck. A day of reconciliation will have to happen, the question is when.

originally posted by: JinMI
a reply to: LSU2018

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


Even disagreed with Trumps actions on the fiat printer.

Agreed. We should have never been locked down and especially offered free money. Once that happened and once people started getting paid to sit at home, it put a spike in the last good tire this country had.

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.

I'd ask what Trump had to say in his defense, but I don't see any comment from him. Do you have a link to him pointing to Biden and the reversals he did on Trump's policies on day 1?

originally posted by: network dude
I'd ask what Trump had to say in his defense, but I don't see any comment from him. Do you have a link to him pointing to Biden and the reversals he did on Trump's policies on day 1?

Trump wasn't against the Fed's easy money policy, he actually called for negative rates back in May of last year. That's the issue, the previous administrations dating back decades have been fully supportive of this policy.

originally posted by: carewemust
a reply to: LSU2018

Average people are feeling the inflation, and they are not happy.

Agreed. We're feeling the entire economical collapse. Under Obama, people couldn't find a job. Under Biden, people don't want to find a job.

originally posted by: network dude

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.

I'd ask what Trump had to say in his defense, but I don't see any comment from him. Do you have a link to him pointing to Biden and the reversals he did on Trump's policies on day 1?

I was talking more about the two factions in general.

The right blaming the left and vise versa.

originally posted by: AugustusMasonicus

originally posted by: JinMI
Govt spent what they didn't have on things they don't need.

While loaning money out for practically nothing and encouraging poor investment behavior. That's the second part of this equation.

And on the other side there are moves to keep a superficial illusion that it's all working.... Like weighting index funds with large tech companies that don't really have a lot in material value, but rather perceived.

Doing such rides the trends, and indexs like the S&P 500 see 50%~ growth in the last year and only 100%~ growth in the past five years.

Think about that for a second everyone. The last year saw as much as the four prior. I'm not making that statement with any political context, I'm speaking purely from an agnostic market perspective.

Every indicator looks rotten as hell. And if you set aside the red vs blue BS, what's left is a collective self preservation that looks a lot like an animal cornered.

a reply to: LSU2018

Effectively handcuffing the economy.

Here in Jacksonville Florida I had to go to 3 different gas stations to find one that had any gas. You could tell the ones that had gas by the huge line of cars waiting.

originally posted by: Mark08
Here in Jacksonville Florida I had to go to 3 different gas stations to find one that had any gas. You could tell the ones that had gas by the huge line of cars waiting.

While worrisome, it's not necessarily correlated with inflation or market conditions as a whole.

That one is due to ransomware, the actor in which isn't definitive to my knowledge

Ok,so you can sell your house like hot cakes, plus over asking price, but when you do, where and what are you going to be moving into? Unless of course the house your selling is your second home.

You sell your house fast because it’s a sellers market, but you decide to downsize, but your now on the other end of spectrum. You now are buying at asking price plus maybe adding some liquid cash to win the bid. I don’t get the tactic.

originally posted by: AugustusMasonicus

originally posted by: network dude
I'd ask what Trump had to say in his defense, but I don't see any comment from him. Do you have a link to him pointing to Biden and the reversals he did on Trump's policies on day 1?

Trump wasn't against the Fed's easy money policy, he actually called for negative rates back in May of last year. That's the issue, the previous administrations dating back decades have been fully supportive of this policy.

Every administration since 1913.