Economy Stock Market Has Worst Week Since 2008

[DEN]

They don't sell sport fish at the fish market anyways, because selling sport fish is illegal. Striped bass on the other hand in invasive on the westcoast and you'll see them live at your local ching chong store

Yeesh you're not fooling anyone. Stay on topic now.

 

[7437]

RE: These things don't take place in a vacuum.


I read it and I would care for its conclusions had they even attempted to control for extraneous and confounding variables.

How do you control for variables when your dataset only has 11 examples?

 

[JoshTehV]

Yeesh you're not fooling anyone. Stay on topic now.

Hey man, you started it

 

[Cirris]

lol stop blaming everything on the interest rates being raised .25%. An interest rate of 2.25% is still considered low, Trump was accepting credit when the stock market was reaching record highs, now he has to accept blame when those gains are lost. He's not Drake, he has to take the good with the bad.

Considering that the fed interest rate was less that 1% for almost a decade, calling 2.25% "low" is rather disingenuous.

It is correct to assume that continually raising rates every quarter is dampening the strong economy. And is suspect given inflation isn't nearly as bad as the fed worries it is.

Also, raising the interest rates is costing the US more money as it costs more to service the debt using the bond market.

 

[ElKarlo]

Sentiment is what drove it higher. Fear of the Fed over reacting plus Trump being whacky have made markets jittery. The Fed often hikes too much too soon
They should have had more hikes earlier and spread apart. Not four in one yeae

 

[ElKarlo]

2008 just called, says your full of bullshit.

That was derivatives destroying everything
That was not a crash like 87 or 2000, it was contagion

 

[ScottE]

Trump really has no idea about the government he's a part of.

https://www.usatoday.com/story/mone...cant-fire-fed-chief-jerome-powell/2403176002/

 

[ElKarlo]

On a different note, QE is how we slowly dug out way out of this mess. Yet Europe still has low rates. Sweden raised theirs to negative, that's right negative .25, Japan is still basically zero. If s recession happens next year, basically just the US can lower rates in a meaningful way

 

[xcvbn]

• U.S. Workers Get Biggest Pay Increase in Nearly a Decade
• Wages Are Growing Faster Than You Think
• Wages Rise at Fastest Rate in Nearly a Decade as Hiring Jumps
• Hiring Slows as Wages Grow, Unemployment...

Okay. The front page of the business section had a pretty comprehensive piece breaking down unemployment and wage growth by sector, and it was all quite rosy in the short term.

All those sensationalist headlines lose their muster quickly when you put context to the situation:

Adjusted for inflation we see about a 1% rise, which is certainly better than nothing, but far from the great economic breakthrough those articles try to portray.

 

[Sano]

All those sensationalist headlines lose their muster quickly when you put context to the situation:



Adjusted for inflation we see about a 1% rise, which is certainly better than nothing, but far from the great economic breakthrough those articles try to portray.

@Madmick

It's smoke and mirrors. Healthcare premiums are up over 100% in 10 years:

Tuition costs:

Student debt trend:

Btw this graph above is nothing. It's at 1,5 trillion dollars now!

Student Loan Debt Statistics In 2018: A $1.5 Trillion Crisis
https://www.forbes.com/sites/zackfriedman/2018/06/13/student-loan-debt-statistics-2018/#370a95e57310

A measly few 1 or 2% raise in the median means absolutely nothing when the the prices of houses, healthcare and tuition is skyrocketing. This has been the greatest economic upswing in decades and that's what the middle class has gotten out of it? Also:

Median U.S. household income rises 1.8 percent to record $61,400 in 2017
"Although median income reached $61,000 for the first time, census officials noted the agency changed the way it collects data in 2013 and the figure is not statistically different from median income in 1999 or 2007 on an inflation-adjusted basis."
https://eu.usatoday.com/story/money...hold-income-rises-1-8-61-400-2017/1272004002/

Equally important, income inequality has been on a very sharp incline. It's at the highest now it's been since just before the great depression, and it's on track to surpass it!

Looking further than wages and towards all forms of household income, inequality is seriously alarming:

https://www.businessinsider.com/rec...-hiding-a-chilling-fact-2017-9?r=US&IR=T&IR=T

 

[Madmick]

@Madmick

It's smoke and mirrors. Healthcare premiums are up over 100% in 10 years:

Tuition costs:

Student debt trend:

Btw this graph above is nothing. It's at 1,5 trillion dollars now!

Student Loan Debt Statistics In 2018: A $1.5 Trillion Crisis
https://www.forbes.com/sites/zackfriedman/2018/06/13/student-loan-debt-statistics-2018/#370a95e57310

A measly few 1 or 2% raise in the median means absolutely nothing when the the prices of houses, healthcare and tuition is skyrocketing. This has been the greatest economic upswing in decades and that's what the middle class has gotten out of it? Also:

Median U.S. household income rises 1.8 percent to record $61,400 in 2017
"Although median income reached $61,000 for the first time, census officials noted the agency changed the way it collects data in 2013 and the figure is not statistically different from median income in 1999 or 2007 on an inflation-adjusted basis."
https://eu.usatoday.com/story/money...hold-income-rises-1-8-61-400-2017/1272004002/

Equally important, income inequality has been on a very sharp incline. It's at the highest now it's been since just before the great depression, and it's on track to surpass it!

Looking further than wages and towards all forms of household income, inequality is seriously alarming:

https://www.businessinsider.com/rec...-hiding-a-chilling-fact-2017-9?r=US&IR=T&IR=T

It's strange how you guys aren't able to wrap your heads around the fact that I don't need any of this explained to me.

This economy was just as tremendously a mess under Obama and some of the most aggressively liberal (similarly spend-heavy) economic policies we have ever seen. What I object to is the notion that the economy, right now, with regard to the same metrics we always use, isn't better than it was before (just a few years ago). I have iterated several times I do not believe in Trump's overall direction, particularly because of his debt spending, but I didn't believe in Obama's for the same reason. I'm not the one who waves team flags in these debates.

It irks me when conservatives don't acknowledge the labor force participation rate or future debt projections under Trump, when they wouldn't shut up about it during Obama's years, but I find it equally irritating when liberals ignore that unemployment is fantastically low, or worse try to argue that it's too low, simply because Trump is at the wheel. Wage growth figures have improved. If you want to argue they haven't improved enough, okay, but they're better under Trump than they were under Obama. Start with the truth, then flesh out deeper truths from there.

Even with the stock market way down over the past few months it is still way, way up from when Obama ended his Presidency. This isn't trickling down to Main Street to a sustainable or meaningful enough degree, I agree, and that's why we're seeing so many major corporate buybacks the Democrats predicted. Nevertheless, we are seeing an improvement in the manufacturing sector, for example, both in terms of employment and wage growth, when the Democrats forecast the opposite.

Separate what's true from what's partisan.

 

[Sano]

It's strange how you guys aren't able to wrap your heads around the fact that I don't need any of this explained to me.

This economy was just as tremendously a mess under Obama and some of the most aggressively liberal (similarly spend-heavy) economic policies we have ever seen. What I object to is the notion that the economy, right now, with regard to the same metrics we always use, isn't better than it was before (just a few years ago). I have iterated several times I do not believe in Trump's overall direction, particularly because of his debt spending, but I didn't believe in Obama's for the same reason. I'm not the one who waves team flags in these debates.

It irks me when conservatives don't acknowledge the labor force participation rate or future debt projections under Trump, when they wouldn't shut up about it during Obama's years, but I find it equally irritating when liberals ignore that unemployment is fantastically low, or worse try to argue that it's too low, simply because Trump is at the wheel. Wage growth figures have improved. If you want to argue they haven't improved enough, okay, but they're better under Trump than they were under Obama. Start with the truth, then flesh out deeper truths from there.

Even with the stock market way down over the past few months it is still way, way up from when Obama ended his Presidency. This isn't trickling down to Main Street to a sustainable or meaningful enough degree, I agree, and that's why we're so the major corporate buybacks the Democrats predicted. Nevertheless, we are seeing an improvement in the manufacturing sector, for example, both in terms of employment and wage growth, when the Democrats forecast the opposite.

Separate what's true from what's partisan.

The point is that something needs to change. I agree with your points, that's why the US needs real progressives to come in and make the right changes for the people. Close tax loopholes, revert the tax cuts (they were almost exclusively used for stock buybacks), money out of politics, cut down on lobbyism, universal health care, tuition free college, switch to green energy, raise minimum wage, increase the strength of unions, cut down on military spending, prison reform, legalise marijuana on the federal level and more. You could do all these things and it would only help the quality of life AND the economy for the working class American.

 

[Madmick]

Yeah I agree with your points, that's why the US needs real progressives to come in and make the right changes for the people. Close tax loopholes, revert the tax cuts (they were almost exclusively used for stock buybacks), money out of politics, cut down on lobbyism, universal health care, tuition free college, switch to green energy, raise minimum wage, increase the strength of unions, cut down on military spending, andmore. You could do all these things and it would only help the quality of life AND the economy for the working class American.

Contemporary progressivism (aka moronic Berniebot "Democratic Socialism") is horseshit doomed to bankrupt the nation.

That's where we depart. We need real conservatives to come in and stop spending so much damn money. I find more common ground with progressives on the priority of much of that spending.

 

[Sano]

Contemporary progressivism (aka moronic Berniebot "Democratic Socialism") is horseshit doomed to bankrupt the nation.

That's where we depart. We need real conservatives to come in and stop spending so much damn money. I find more common ground with progressives on the priority of much of that spending.

That is where we disagree yes. I don't see any legitimate arguments against the suggestions I put forth, well, at least I find in almost all the cases the positives outweigh the negatives. You're not going to be socialist, it's a market economy. I don't necessarily want to go into a long discussion, but picking a single topic, how would be cons outweigh the pros in regards to, let's say, tuition free college?

 

[Foots]

I used to live in Germantown, MD!

So did I!

 

[Hit-N-Run]

I lost $25K in my 401K the last 2 months

 

[Beechwood]

Another terrible looking day in the stock market. Awful to see.

I'm guessing the stock market isn't going to stop falling until the price of oil stops dropping. Looks like the earliest that oil pricing will have a chance to stabilize and begin to rise is in January. That is when OPECs production cuts go into effect.

 

[KILL KILL]

I lost $25K in my 401K the last 2 months

I'm afraid to see what mine looks like, so I'm completely avoiding it. Unless you're close to retirement age, don't worry about it, because you're playing the long game....at least that's what I keep telling myself lol.

 

[Hit-N-Run]

I'm afraid to see what mine looks like, so I'm completely avoiding it. Unless you're close to retirement age, don't worry about it, because you're playing the long game....at least that's what I keep telling myself lol.

I tried not to look but got my statement in. I have a while to retirement but it's still fucking depressing

 

[Liquid Smoke]

I lost $25K in my 401K the last 2 months

Don't listen to @KILL KILL
Cash out and have fun with what's left before it's all gone.