Down goes the Dow

Please DGTD posters. Please keep the market up. We’re depending upon you!

?

back patter wrote:

Sally Vixxxxxxens wrote:

The market is barely down now. Igy -check back in July when the Dow up around 29,200.

Very true. It's a small correction. Guy told me today market crashing because of coronavirus. What crash? It's barely down from all time highs.

I think tomorrow will be up. Not as good a rally as before. I think the Robinhood people are getting tired of chasing rally's and getting burned. Bad news released after 3pm when markets closed? Seems like the trend. Staying on the sidelines.

Back in 2008 and thereabouts the market was taking hits of like 800 points when the Dow was only around 8000 - 10%. or so. The Dow was up around 29,000 and taking hits of 800 is like 2%. Nothingburgers.

Ghost of Igloi wrote:

Please DGTD posters. Please keep the market up. We’re depending upon you!

?

Igy - gentleman's bet. I will bet you that the Dow will be above 28,500 come July 1. Deal?

Sally Vix wrote:

Ghost of Igloi wrote:

Please DGTD posters. Please keep the market up. We’re depending upon you!

?

Igy - gentleman's bet. I will bet you that the Dow will be above 28,500 come July 1. Deal?

Sure. I’ll send you something from the Great State of Idaho if you win. Perhaps a bag of choice potatoes or onions.

Thoughts?

https://medium.com/sequoia-capital/coronavirus-the-black-swan-of-2020-7c72bdeb9753

10 Year dropping to 0.82%....says it all....

30 Year Treasury 1.44%

Giles Corey wrote:

[quote]agip wrote:

Any of us boomers or Xers know that living standards are massively higher for almost everyone now compared to the 70s.

R U out of your effin mind?

Stay at home moms, working dads with no college debt, putting 4 kids thru college and with a vacation home.

No billionaires. 50% of the nation's wealth not in a few hands

No billionaires? How about Rockefeller, DuPont, J.P. Morgan, Kennedy, Astor to name a few.

Absence of the internet and control of the media just let them lie low in the public consciousness. Stay at home moms, sure. But dads had no college debt bec they didn’t go to college but got good blue collar jobs anyways, and most kids didn’t go to college either. The welfare state wasn’t so expensive back then.

ok crazy guy, I'll bite. What exactly is your thesis here, that inequality in the US has increased? No sh!t, everyone agrees with that. Wealth and power has been consolidating at the top since the 80s and yeah it's probably something we need to look at. But even America's poor people are wealthier than they've ever been. Our bottom 20% is better off than Europe's lower 50%. But the biggest problem with these quality of life arguments is that people will just move the goal posts back and forth until they settle on something intrinsic to the time. Like oh we're not as well off as we were in the 70s because the Steelers were on a massive streak. OK boomer.

And that whole "outsourcing of manufacturing to 3rd world countries" has made technology like computers cheap as fvck and accessible to almost everyone. You know how much it would cost to manufacture a Nokia brick phone even in 2020 in the US? Well after the union has it's way it'd probably cost 10 trillion dollars and involve 600,000 people (at least half of whom haven't showed up to work sober in over a year). Oh and speaking of unions, the head of UAW is about to go to jail for a long time for corruption and embezzling.

News flash : people in America don't want those factory jobs, but for some reason we pretend like working excruciating dog sh!t hours in a 110 degree steel mill in the 60s is the most romantic thing ever.

back patter wrote:

I think the Robinhood people are getting tired of chasing rally's and getting burned.

Ah yes, and their combined portfolio values of..... $10? Real market mover

Racket wrote:

back patter wrote:

I think the Robinhood people are getting tired of chasing rally's and getting burned.

Ah yes, and their combined portfolio values of..... $10? Real market mover

I opened a Robinhood account last week to firsthand see what all the hoopla was about since it's supposed to go IPO eventually.

After one week, I don't get it. Why would anyone want a Robinhood account when they could get a Schwab, TD Waterhouse, or Etrade account with far more functionality?

Ghost of Igloi wrote:

Only thing I proved is you are an obsessed turd.

Yet again you prove my point. You Trumpkins are nothing if not predictable.

[quote]Racket wrote:

But even America's poor people are wealthier than they've ever been.

Any statistics at all to support this assertion?

You know, stats. Like the stuff I posted about income inequality+

[quote]Racket wrote:

News flash : people in America don't want those factory jobs,

Really? All the people who lost their jobs in the paper mills of Maine, the auto factories of Michigan, the Rust Bet, the steel factories of PA did not mind losing their jobs?

Do you have even an inkling of how ignorant you are?

Personally I believe that a notable percentage of this is due to overspending. The middle class trying to live like high income individuals, because they are told by marketing that "they deserve it". People buying luxury cars, fancy overseas holidays and fancy homes because they can just about afford the repayments. Spending their wealth each month on a BMW 3 series or fancy take-away coffee to be "seen", instead of putting some away in investments. If more people lived within their means, the wealth gap would not be so large.

Today's Dow song: https://www.youtube.com/watch?v=zLIsInAstH8&feature=youtu.be&t=13

Any stats at all to support your view? Lots of folks you know own BMWs?

Euro markets way the eff down today. Like 3.5%.

The drumbeat continues

On the other hand, some good news.

Harvey Weinstein is actually in Rikers today, more than a week after he was sent there by the judge.

Rick Singer still free as a bird.