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Dow sinks below 23,000; Nasdaq flirts with a bear market; Oil in free fall

JacksinPA

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https://us.cnn.com/2018/12/20/investing/dow-jones-nasdaq-oil-prices/index.html

New York (CNN Business) Fear of an economic slowdown is rocking Wall Street and the oil markets.

The Dow briefly plunged below 23,000 on Thursday and the Nasdaq is flirting with a bear market. US oil prices plummeted more than 4% to the lowest level since August 2017.
========================================
There have been a number of predictions of WS's bubble bursting, setting off the next Great Recession. We may be seeing the start of that this past week. Not good for Trump in 2020. Unemployed people tend to hold grudges that they act out at the voting booths.

Gas prices are plunging too, which is good for me. I have antique gold coins in my safety deposit box that are worth a lot more today because of the inverse price relationship between gold & oil: inevitably one goes up & the other goes down. It's like a Newtonian law of motion.
 

Phys251

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I miss the Obama economy.
 

JacksinPA

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I miss the Obama economy.

Est moi aussi. Things were good under Obama & Trump has spent 2 years doing nothing but riding on the inertia of the Obama recovery.
 

SCrider

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I miss the Obama economy.

Me too. It seemed to be set up for the long haul. Trump an the GOP wanted to make a splash to show how smart they were. Well now we pay for it.
 

Hatuey

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Hi,

Thank you for reaching the right wing denial line.

A conservative will be right along to spam the thread with talk about what really matters: copy pasta'ing BLS numbers.

Please hold,

Sent from Trump Plaza's basement using Putin's MacBook.
 

Phys251

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Est moi aussi. Things were good under Obama & Trump has spent 2 years doing nothing but riding on the inertia of the Obama recovery.

Which is running out of steam.
 

OrphanSlug

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What a mess, and continually getting worse.
 

trixare4kids

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I miss the Obama economy.

Why?
If Obama had a strong economy like we are seeing now, interest rates would have risen instead of being kept artificially at bay by Fed chair Janet Yellen.
The market is reacting to that rise, and all of this was eventually inevitable.
Nothing to see here...
 

Phys251

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Why?
If Obama had a strong economy like we are seeing now, interest rates would have risen instead of being kept artificially at bay by Fed chair Janet Yellen.
The market is reacting to that rise, and all of this was inevitable.
Nothing to see here...

How typical. When things go wrong, not tRump's fault. When things go right, tRump did it. :roll:

Your little tRump train isn't just running out of steam. It's headed for a ****ing cliff. And your conductor has NO CLUE how to steer us away from it.
 

tres borrachos

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https://us.cnn.com/2018/12/20/investing/dow-jones-nasdaq-oil-prices/index.html

New York (CNN Business) Fear of an economic slowdown is rocking Wall Street and the oil markets.

The Dow briefly plunged below 23,000 on Thursday and the Nasdaq is flirting with a bear market. US oil prices plummeted more than 4% to the lowest level since August 2017.
========================================
There have been a number of predictions of WS's bubble bursting, setting off the next Great Recession. We may be seeing the start of that this past week. Not good for Trump in 2020. Unemployed people tend to hold grudges that they act out at the voting booths.

Gas prices are plunging too, which is good for me. I have antique gold coins in my safety deposit box that are worth a lot more today because of the inverse price relationship between gold & oil: inevitably one goes up & the other goes down. It's like a Newtonian law of motion.

Nobody cares about Wall Street.

So says Mycroft.
 

Mycroft

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https://us.cnn.com/2018/12/20/investing/dow-jones-nasdaq-oil-prices/index.html

New York (CNN Business) Fear of an economic slowdown is rocking Wall Street and the oil markets.

The Dow briefly plunged below 23,000 on Thursday and the Nasdaq is flirting with a bear market. US oil prices plummeted more than 4% to the lowest level since August 2017.
========================================
There have been a number of predictions of WS's bubble bursting, setting off the next Great Recession. We may be seeing the start of that this past week. Not good for Trump in 2020. Unemployed people tend to hold grudges that they act out at the voting booths.

Gas prices are plunging too, which is good for me. I have antique gold coins in my safety deposit box that are worth a lot more today because of the inverse price relationship between gold & oil: inevitably one goes up & the other goes down. It's like a Newtonian law of motion.

And yet, more people employed than ever under Obama. But hey...blame Trump, right?

The fact is, this drop has nothing to do with Trump and everything to do with Powell.

So it goes...
 

trixare4kids

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How typical. When things go wrong, not tRump's fault. When things go right, tRump did it. :roll:

Your little tRump train isn't just running out of steam. It's headed for a ****ing cliff. And your conductor has NO CLUE how to steer us away from it.

Short for saying you can't refute what I wrote above so you do your usual by making it personal.

See ya! :2wave:
 

Mycroft

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Nobody cares about Wall Street.

So says Mycroft.

My advice? Get away from the stock market...and fast. The Fed has the globalist's back...not yours.
 

Mach

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My advice? Get away from the stock market...and fast. The Fed has the globalist's back...not yours.
You don't care about Wall Street, why are you giving advice about Wall Street?
 

Chomsky

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Well, when you start a tariff war and brag about shutting down the government, how is the market supposed to act? Even if the basic fundamentals may otherwise be reasonable? (and I'm no longer sure they are)
 

Chomsky

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Why?
If Obama had a strong economy like we are seeing now, interest rates would have risen instead of being kept artificially at bay by Fed chair Janet Yellen.
The market is reacting to that rise, and all of this was eventually inevitable.
Nothing to see here...
You do not believe a trade war and government shut-down effect the markets?
 

Atomic Kid

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Why?
If Obama had a strong economy like we are seeing now, interest rates would have risen instead of being kept artificially at bay by Fed chair Janet Yellen.
The market is reacting to that rise, and all of this was eventually inevitable.
Nothing to see here...

Not anywhere near as "artificial" if they were to do so now. At some point the Fed has to react to the financial data it sees being generated by massive deficit and debt being driven upward by the Trump's tax policy and tariffs. Trump's impetuous du jour style of governance and policy making is creating a lot of doubts and confusion and Wall Street doesn't like it.
 
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Phys251

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Short for saying you can't refute what I wrote above so you do your usual by making it personal.

See ya! :2wave:

Hmm. Pretty typical projection. Tried-and-untrue. But you stuck to the old, worn-out playbook, so I'll give you that.

I'll give it a 6/10.
 

Rexedgar

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Not anywhere near as "artificial" if they were to do so now. At some point the Fed has to react to the financial data it sees being generated by massive the deficit and debt being driven upward by the Trump's tax policy and tariffs. Trump's impetuous du jour style of governance and policy making is creating a lot of doubts and confusion and Wall Street doesn't like it.

Disregard the “bull in the china shop!” Nothing to do with this.....
 

SCrider

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My advice? Get away from the stock market...and fast. The Fed has the globalist's back...not yours.

Can you explain how you would like the US to go about not being part of the global economy? How would that workout for us? Would you be happy if they closed all the ports and we only used items produced domestically? I just don't understand the anti global economy point of view.
 

Chomsky

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My advice? Get away from the stock market...and fast. The Fed has the globalist's back...not yours.
We just went through this in the other thread, Mycroft.

One third of Americans have 401K's that they depend on for retirement. They can't just walk away from the market. As the market goes, so does their retirement. They and their retirement are married to the market.
 

trixare4kids

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You do not believe a trade war and government shut-down effect the markets?

Yes, possibly they do.
The market is very volatile; up, down, up, down.
This week I think it's the interest rate rise, plus, investors sell off by the end of the year. The latter not unusual.
 

SCrider

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We just went through this in the other thread, Mycroft.

One third of Americans have 401K's that they depend on for retirement. They can't just walk away from the market. As the market goes, so does their retirement. They and their retirement are married to the market.

Isn't the new talking point Main Street not Wall Street? I see them as being connected so you can't have one without the other.
 
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