Possible that Stock Market Panic Starting Now

SLUPSU

Well-Known Member
Aug 5, 2018
4,564
2,627
1
LOL... The unhinged angry lunatic we all know rears his ugly head.... I throw you a bone to install my garbage disposal and you bitch.

All the criticism in this thread about your lack of manly capabilities is really irritating you huh? LOL
 

m.knox

Well-Known Member
Gold Member
Aug 20, 2003
106,489
60,383
1
All the criticism in this thread about your lack of manly capabilities is really irritating you huh? LOL

No, not really. I am very self aware and confident. Enough so to share even share it with an angry unhinged cultist like you. See how that works there?
 

SLUPSU

Well-Known Member
Aug 5, 2018
4,564
2,627
1
No, not really. I am very self aware and confident. Enough so to share even share it with an angry unhinged cultist like you. See how that works there?

Why do you keep lashing out then? You're angry!!!
 

m.knox

Well-Known Member
Gold Member
Aug 20, 2003
106,489
60,383
1
I do that stuff myself. Recently changed a bunch of lights, added dimmers, moved a doorway and a bunch of drywall correction of the shitty work the builder did in a couple spots when he built my house.

Drywall is definitely shitty work. I wouldn't touch that.

Electrical I don't mind. Though it kind of pisses me off when one outlet is on another circuit that you didn't turn off.
 

KnightWhoSaysNit

Well-Known Member
Jul 19, 2010
8,825
8,995
1
Not to wreck all the fun here, but in other news ...

Futures at this hour are sharply down. I was hoping that the positive final hour of trade signaled a bottom earlier in the day. Probably not.
 

dailybuck777

Well-Known Member
Jan 2, 2018
10,928
15,379
1
Very interesting week coming. If stocks end the week down 7 or 8%, I would say there is very good evidence that a sustained bear market is in the offing.
 

junior1

Well-Known Member
May 29, 2001
6,125
6,447
1
Very interesting week coming. If stocks end the week down 7 or 8%, I would say there is very good evidence that a sustained bear market is in the offing.
this week's tech earnings and fed report will hopefully turn the market
 

junior1

Well-Known Member
May 29, 2001
6,125
6,447
1
Good, i love to take money from the big people that are afraid to get their hands dirty.
difference is that us big earners send our money out to work each day - no cost for gas to commute, don't have to pack a lunch, etc. We feel it is our responsibility, as part of this great capitalist country, to pass a few jobs to those who do have to work on sites just to keep things moving smoothly.
The more money you make/have, the fewer "honey do's" you have to do yourself
 

dailybuck777

Well-Known Member
Jan 2, 2018
10,928
15,379
1
Markets generally open down 2%.. serious risk of a bear market. Bitcoin up usually around 8%.
 

2lion70

Well-Known Member
Gold Member
Jul 1, 2004
16,851
5,816
1
Very hard to predict stock market, but as I type this Nasdaq down 2.3%, Dow 1.5% and Bitcoin 2.8%. Huge one day drop on top of other losses. Undoubtedly there will be bottom feeders to prop up market at some point today. Interesting to watch how market moves today and rest of the week.
The stock market has been way overpriced for a long time. The coreection is overdue and will be huge. Cryto currencies are sure to be a big loser - think tulip bulbs, real estate....
 
  • Like
Reactions: Nittany Ned2

KnightWhoSaysNit

Well-Known Member
Jul 19, 2010
8,825
8,995
1
The stock markets are not the economy. Not to mention the economy is the US economy not any one person's.

You are wrong. The stock market does track the condition of the economy. What you fail to mention is the impact of real interest rates and the size of the money supply. Had those been left alone the stock market would be well below where it was at the start of the pandemic.

Biden's team is so bad we might wind up there anyway, should the Fed do what it is supposed to do and control inflation. It's clear that no one in the White House learned anything from the 1970s. It's that or they are deliberately trying to wreck the country. Given their "protection" of the border it would seem that the latter is true.
 

KnightWhoSaysNit

Well-Known Member
Jul 19, 2010
8,825
8,995
1
Checking futures this evening (a strong selloff so far) it looks like the market is trying to manipulate Powell into becoming Dovish before he even takes the podium this week.
 

junior1

Well-Known Member
May 29, 2001
6,125
6,447
1
Checking futures this evening (a strong selloff so far) it looks like the market is trying to manipulate Powell into becoming Dovish before he even takes the podium this week.
It was always a crowd pleaser when Trump brought up 401 (ks) during his rallies. People, anyone with a 401, IRA, company pension, union pension, school pension has money in the stock market. The market is not THE economy, but it certainly is part of it.
 
  • Like
Reactions: Sullivan and bdgan

bdgan

Well-Known Member
May 29, 2008
61,138
37,563
1
It was always a crowd pleaser when Trump brought up 401 (ks) during his rallies. People, anyone with a 401, IRA, company pension, union pension, school pension has money in the stock market. The market is not THE economy, but it certainly is part of it.
Market valuations are a function of anticipated earnings. Those earnings have been enhanced by government spending and fed policy. The question is how strong they'll be once the government takes away those things away.
 

rumble_lion

Well-Known Member
Aug 7, 2011
22,684
5,473
1
It was always a crowd pleaser when Trump brought up 401 (ks) during his rallies. People, anyone with a 401, IRA, company pension, union pension, school pension has money in the stock market. The market is not THE economy, but it certainly is part of it.

Most people own very little stocks.
 

junior1

Well-Known Member
May 29, 2001
6,125
6,447
1
Most people own very little stocks.
The standard democrat position paper says that only 50% of americans own stocks. Now, without breaking that down - non working wives, children - it's hard to know exactly what percentage of people actually own stocks.
Next, what does "own" mean? I work for a government entity in california. I don't have any personal brokerage account so I literally don't own stock. But CALPERS manages my pension fund. They have billions worth of stocks, some of which will be used to fund my pension. So do I "own" stocks?
 

rumble_lion

Well-Known Member
Aug 7, 2011
22,684
5,473
1
The standard democrat position paper says that only 50% of americans own stocks. Now, without breaking that down - non working wives, children - it's hard to know exactly what percentage of people actually own stocks.
Next, what does "own" mean? I work for a government entity in california. I don't have any personal brokerage account so I literally don't own stock. But CALPERS manages my pension fund. They have billions worth of stocks, some of which will be used to fund my pension. So do I "own" stocks?

https://www.cnbc.com/2021/10/18/the...-own-a-record-89percent-of-all-us-stocks.html

The wealthiest 10% of Americans now own 89% of all U.S. stocks held by households, a record high that highlights the stock market’s role in increasing wealth inequality.​
The top 1% gained more than $6.5 trillion in corporate equities and mutual fund wealth during the Covid-19 pandemic, while the bottom 90% added $1.2 trillion, according to the latest data from the Federal Reserve. The share of corporate equities and mutual funds owned by the top 10% reached the record high in the second quarter, while the bottom 90% of Americans held about 11% of individually held stocks, down from 12% before the pandemic.​
The stock market, which has nearly doubled since the March 2020 drop and is up nearly 40% since January 2020, was the main source of wealth creation in America during the pandemic — as well as the main driver of inequality. The total wealth of the top 1% now tops 32%, a record, according to the Fed data. Nearly 70% of their wealth gains over the past year and a half — one of the fastest wealth booms in recent history — came from stocks.​
“The top 1% own a lot of stock, the rest of us own a little,” said Steven Rosenthal, senior fellow, Urban-Brookings Tax Policy Center.​
 

KnightWhoSaysNit

Well-Known Member
Jul 19, 2010
8,825
8,995
1
https://www.cnbc.com/2021/10/18/the...-own-a-record-89percent-of-all-us-stocks.html

The wealthiest 10% of Americans now own 89% of all U.S. stocks held by households, a record high that highlights the stock market’s role in increasing wealth inequality.​
The top 1% gained more than $6.5 trillion in corporate equities and mutual fund wealth during the Covid-19 pandemic, while the bottom 90% added $1.2 trillion, according to the latest data from the Federal Reserve. The share of corporate equities and mutual funds owned by the top 10% reached the record high in the second quarter, while the bottom 90% of Americans held about 11% of individually held stocks, down from 12% before the pandemic.​
The stock market, which has nearly doubled since the March 2020 drop and is up nearly 40% since January 2020, was the main source of wealth creation in America during the pandemic — as well as the main driver of inequality. The total wealth of the top 1% now tops 32%, a record, according to the Fed data. Nearly 70% of their wealth gains over the past year and a half — one of the fastest wealth booms in recent history — came from stocks.​
“The top 1% own a lot of stock, the rest of us own a little,” said Steven Rosenthal, senior fellow, Urban-Brookings Tax Policy Center.​

I won't dispute your data. Capitalism creates wealth, and wealth gets distributed to business owners.

The prospect of wealth creation is self-fulfilling. In other words, without the possibility of disparity, wealth does not get created, and no one becomes better off. This is what happens in a socialist society.

The more freedom within an economy, the more disparity there will be.

The question for a worker is this: Do you want to be left behind, or become one of the winners.

Two things are essential, and everyone should be taught them, as well as accept them:
  1. You must develop yourself into a valuable commodity, i.e., get educated with skills that are demanded by other people (i.e., the "market"). This is where most parents fail. They want their children to be able to do whatever makes them happy. Well, you have to find both, a marketable skill, and something you like to do. This isn't easy, but it is essential.
  2. You must gradually become a business owner. In our society this is easy. Open a brokerage or retirement account, and start buying stock. That's called "saving." But this takes discipline that most people do not have. You have to be willing to live below your means. For some with little potential, it could mean never being able to start a family, and always living with roommates. I started out after college living with a roommate. I "moved up" to living in an apartment the size of a maid's quarters.
To start an adult life not realizing the above is to set yourself up to become a part of the underclass. A system that does not educate young people on the above is a failure. Our parents and our education system are becoming failures.

The leftwing commies on this board do not believe in the above. They believe that people who have achieved both of these critical attributes should hand over part to those who did not. Charity should be forced through government. Of course this disincentivizes wealth creation, so everyone becomes more poor.

As for me, I did #1 (even with rather ignorant parents), but it took a long time to realize #2 (because of that ignorance). I wasn't taught anything about #2 despite going to a good high school and a good university. I should now be in the 1%, because I was academically in the 1%, but I am not. Why? Because I wasn't taught about #1 and #2.

The danger in our society is that so many are either ignoring these basic concepts, or are being taught that these basic tenets to a free society are wrong. When this group becomes a majority in a democracy, the democracy itself winds up failing, and so does the whole country.
 

LionDeNittany

Well-Known Member
May 29, 2001
45,943
20,751
1
DFW, TX
https://www.cnbc.com/2021/10/18/the...-own-a-record-89percent-of-all-us-stocks.html

The wealthiest 10% of Americans now own 89% of all U.S. stocks held by households, a record high that highlights the stock market’s role in increasing wealth inequality.​
The top 1% gained more than $6.5 trillion in corporate equities and mutual fund wealth during the Covid-19 pandemic, while the bottom 90% added $1.2 trillion, according to the latest data from the Federal Reserve. The share of corporate equities and mutual funds owned by the top 10% reached the record high in the second quarter, while the bottom 90% of Americans held about 11% of individually held stocks, down from 12% before the pandemic.​
The stock market, which has nearly doubled since the March 2020 drop and is up nearly 40% since January 2020, was the main source of wealth creation in America during the pandemic — as well as the main driver of inequality. The total wealth of the top 1% now tops 32%, a record, according to the Fed data. Nearly 70% of their wealth gains over the past year and a half — one of the fastest wealth booms in recent history — came from stocks.​
“The top 1% own a lot of stock, the rest of us own a little,” said Steven Rosenthal, senior fellow, Urban-Brookings Tax Policy Center.​

And democrat policy is 100% to make the 1% wealthier.

One day perhaps you will see it.

LdN