Sand
Footballguy
I'll be honest - I'm not at all surprised by China's decline. Their initial draconian lockdowns combined with a pretty crappy vaccine really made for a fertile ground for outbreaks there. They're in a pickle with this.
Fantasy Football - Footballguys Forums
Welcome to Our Forums. Once you've registered and logged in, you're primed to talk football, among other topics, with the sharpest and most experienced fantasy players on the internet.
The Stock Market under Joe Biden things are looking down! (1 Viewer)
- Thread starter Summer Wheat
- Start date
The Commish
Footballguy
It's definitely not working for them and throwing gas on the inflation bonfire that's raging to boot
Gopher State
Footballguy
Americans are feeling the Biden effect in their 401ks today.
GoBirds
Footballguy
Snotbubbles
Footballguy
The General
Footballguy
Brutal.
Summer Wheat
Footballguy
Gopher State
Footballguy
Agreed. I wonder if Biden will address the state of the economy, inflation, etc today.
Snotbubbles
Footballguy
His economic advisor still pushing the "greatest recovery", "Putin price hike" talking points.
GoBirds
Footballguy
Which western countries are not having record inflation?
France is faring better than most of Europe because of its high dependence on nuclear (about 70% of electricity production). In addition other factors are "the tariff shield which freezes prices of electricity and household gas for consumers, as well as an 18c per litre fuel rebate to help drivers."
Explained: How is France keeping its inflation rate comparatively low?
Snotbubbles
Footballguy
The Eurozone's core inflation is 3.8% for May 2022. The US's core inflation is 6%. We're doing much, much worse w/r/t inflation.
GoBirds
Footballguy
Oh come on it’s only more that 50% higher, no complaints when Dems are in office you know the PSF rules!
From Charlie Bilello:
>>Inflation Rates...
Australia: 5.1%
Norway: 5.7%
Sweden: 6.4%
Canada: 6.8%
Denmark: 7.4%
Eurozone: 8.1%
US: 8.6%
UK: 9.0%<<
Why is Core Inflation a better measure?
Do you think the tax cuts in 2016 and reversing the Fed rate hikes in 2018 in a growing economy (2.25% to 1.5%) have contributed to today's inflation?
Snotbubbles
Footballguy
https://economictimes.indiatimes.com/definition/core-inflation
Covid caused a unprecedented perfect storm (economic shut down, disruption of supply lines, unprecedented stimulus spending).
Stealthycat
Footballguy
Biden's legacy ...
New York (CNN Business)US stocks plunged into bear market territory Monday morning as Wall Street investors grew increasingly nervous about the prospect of even more harsh medicine from the Fed to take the sting out of inflation.
The Dow (INDU) sank 600 points, or 2.1%, and the Nasdaq fell 2.9%.
The broader S&P 500 fell 2.4%. That index is now more than 20% below its all-time high set in January, putting stocks in bear-market territory.
New York (CNN Business)US stocks plunged into bear market territory Monday morning as Wall Street investors grew increasingly nervous about the prospect of even more harsh medicine from the Fed to take the sting out of inflation.
The Dow (INDU) sank 600 points, or 2.1%, and the Nasdaq fell 2.9%.
The broader S&P 500 fell 2.4%. That index is now more than 20% below its all-time high set in January, putting stocks in bear-market territory.
massraider
Footballguy
Legacy of Supply Side economics, and Trumps trade war.
It's a shame.
It's a shame.
matttyl
Footballguy
I think people can live with things up to a point, especially with prices. That’s why a lot of things cost xx.99. That extra penny makes the total amount look bigger, psychologically. So how will the masses react if gas goes over $5/gal (still 4.99 here), while simultaneously the Dow drops below 30k?
Gopher State
Footballguy
The pain keeps on coming with Biden at the wheel.
Max Power
Footballguy
FoxNews has the ticker in the corner and its getting more interest than the content they are airing...
Sand
Footballguy
Just remember the words on the administration here from Friday: "There's nothing to suggest that there's a recession in the works," she (Yellen) said during an interview at The New York Times' economic forum.
IMO, we're already in recession and it will be confirmed when the Q2 numbers come out. Q1 was already negative.
IMO, we're already in recession and it will be confirmed when the Q2 numbers come out. Q1 was already negative.
matttyl
Footballguy
Aside from that post 9/11 economy, thr post housing bubble in 2008, and the sharp drop after covid first hit - have we ever had the DOW lower than where it was 18 month prior?
Stoneworker
Footballguy
Saw the same quote. Yellen is completely delusional and/or a total tool. Just as she was about inflation.
The 2/10 treasury yield curve inverted again today (briefly). Second time since April. That signal is rarely wrong.
Not sure if we're already there, but market participants increasingly believe recession is a certainty.
Sand
Footballguy
matttyl
Footballguy
Kinda meant in my lifetime (40+ years), which I’ve kinda assumed is the lifetime of most here.
GoBirds
Footballguy
Legacy of Biden you mean, thanks to all you that punished us with him. Going to be quite the painful ride.
Stealthycat
Footballguy
for the people who can buy right now, what do you think the % chance of tripling their money by 2025 ?
fred_1_15301
Footballguy
GoBirds
Footballguy
I worry you are right, I did nibble on some index funds to average in but more pain ahead I would guess.
fred_1_15301
Footballguy
Yup I get that it’s never smart to time the market but in this case I feel that investing today (literally) is equivalent to burning money.
Stealthycat
Footballguy
we don't know that it'll go a "lot lower" - it might be bottom right now, nobody knows
-6,068.32 (-16.59%)year to date
16.5% is a huge loss
fred_1_15301
Footballguy
Yeah we don’t know for sure but I’m trying to think of near term factors that would predict a sudden change in the positive direction. I just don’t see it. I have some disposable cash that I would like to invest but just not comfortable pulling the trigger right now.
IvanKaramazov
Footballguy
Eh, this seems a bit much. If you're willing to buy and hold a little while, it seems like you've got a "guaranteed" 25% return baked into your purchase just due to this decline. If you're not buying at the exact trough, big deal.
I actually have some cash laying around that's supposed to be for some long-term expenses (like replacing our cars when they need to be swapped out), but it feels wasteful to have that much cash just sitting there when the market is handing us a buying opportunity.
Just my two cents. I'm a boring index fund investor, so timing the market is absolutely not my thing.
Stealthycat
Footballguy
I understand that for sure
We will all look back at the 2022 fall and think of what fantastic buying opportunities that was
or
the world will collapse and it won't matter much anyway
shadrap
Footballguy
Sand
Footballguy
Gopher State
Footballguy
Market under Trump
. Market under Biden
. It’s not complex to see the where the market was better!
massraider
Footballguy
No. Who told you that?shadrap said:
shadrap
Footballguy
quick-hands
Footballguy
The General
Footballguy
supermike80
Footballguy
How the you know what can this be "unexpected" If thats the case I am totally unimpressed with those that make these predictions. Come on man!
Max Power
Footballguy
No one wants to admit the reality of the situation and when they do, they are gaslit. Like how Biden called pit Musk after Musk said he is preparing for a recession.
Last edited by a moderator:
Sparky Big Time
Footballguy
The stock markets rises and falls, sure bad policies can exacerbate it, but lets not put too much stock in a president being too influential on it. I dont really see the market as being a useful measurement of presidential effectiveness.
We should worry far more about inflation. Biden was warned, but Democrats as well, to not implement his policies as they would lead to ruinous inflation. A kid in Econ 101 could have predicated that as well.
He did it anyway, then blamed others, then pretended it wasnt really that bad, then blamed others, then said it was actually a god thing, then blamed others.....
It's sad in a way. I would have considerable respect for him if he just admitted what he did, and that he would try to do better. I could get behind him, but instead he is just a coward.
We should worry far more about inflation. Biden was warned, but Democrats as well, to not implement his policies as they would lead to ruinous inflation. A kid in Econ 101 could have predicated that as well.
He did it anyway, then blamed others, then pretended it wasnt really that bad, then blamed others, then said it was actually a god thing, then blamed others.....
It's sad in a way. I would have considerable respect for him if he just admitted what he did, and that he would try to do better. I could get behind him, but instead he is just a coward.
shadrap
Footballguy
fantasycurse42
Footballguy Jr.
He is doing great!
Similar threads
