stock market was up today...

#12,878
#12,878
Much worse than expected payroll data from ADT (which is generally trust worthy) and markets go up 2%. Better than expected jobs report from gov (which is obviously cooked) and markets already drop 1.5% just after opening.

This market is retarded
 
#12,879
#12,879
I just checked my 401k and so far I'm sitting only at around 6% loss for the year. It's not too bad since I don't plan to retire soon. It still means it's not seeing the normal growth which means it's losing money due to the time value of money and possible long term effects of this inflation which may not fully rebound and set a new norm unless we have a housing crash.
 
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#12,880
#12,880
BreatheUT said:
I just checked my 401k and so far I'm sitting only at around 6% loss for the year. It's not too bad since I don't plan to retire soon. It still means it's not seeing the normal growth which means it's losing money due to the time value of money and possible long term effects of this inflation which may not fully rebound and set a new norm unless we have a housing crash.
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With ten inflation..you are negative 16%..and I am being conservative
 
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#12,882
#12,882
Carl Pickens said:
This inept admin is an abject failure in every way. 🖕🏼Every one of you that voted for this idiot ass
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This. I do not know a single adult outside this board that will even admit they voted for this moron. The Dimwits intentionally made sure we went from being net PRODUCERS of oil right back to being dependent on arab oil just in time for $5 a gallon gas. It cant be called an accident when the jackazzes cancel pipelines and put moratoriums on drilling. Intentionally shtupid. Willful ignorance. Dumb as F...on purpose. Yet there is a dude in this very thread a few posts before this one actually DEFENDING this clown in charge. The ONLY halfway rational human being that could logically be pleased with Bidens term is Jimmy Carter...because Ole Naptime In Charge just made sure Jimmy will not be remembered as the worst president of the last 50 or 100 years. That dubious distinction goes to Sleepy Joe with his buddy Obama bringing up the rear....

Oh...not coincidentally...the last time inflation was astronomical like this was when good old Jimmy Carter was president....imagine that. Absolute failure in every possible metric a leader can be measured by. Even Dimwits are ashamed of him now... and somehow none of those alleged 81 million rubes that voted for this clown will even ADMIT that they voted for him. What a damn joke.
 
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#12,884
#12,884
SpaceCoastVol said:
I suggest sometime after the 2024 election when the people with functioning brains are back in charge.
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You can't turn our service economy around overnight.

Yes, we are a service economy. We don't make s^^t. Meanwhile, these "fake" economies like Russia, China and India actually make s^^t or grow s^^t that is tangible. That was how our economy in America used to be...
 
#12,885
#12,885
marcusluvsvols said:
This. I do not know a single adult outside this board that will even admit they voted for this moron. The Dimwits intentionally made sure we went from being net PRODUCERS of oil right back to being dependent on arab oil just in time for $5 a gallon gas. It cant be called an accident when the jackazzes cancel pipelines and put moratoriums on drilling. Intentionally shtupid. Willful ignorance. Dumb as F...on purpose. Yet there is a dude in this very thread a few posts before this one actually DEFENDING this clown in charge. The ONLY halfway rational human being that could logically be pleased with Bidens term is Jimmy Carter...because Ole Naptime In Charge just made sure Jimmy will not be remembered as the worst president of the last 50 or 100 years. That dubious distinction goes to Sleepy Joe with his buddy Obama bringing up the rear....

Oh...not coincidentally...the last time inflation was astronomical like this was when good old Jimmy Carter was president....imagine that. Absolute failure in every possible metric a leader can be measured by. Even Dimwits are ashamed of him now... and somehow none of those alleged 81 million rubes that voted for this clown will even ADMIT that they voted for him. What a damn joke.
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Trump has just as much to blame for inflation as Biden. Hell he even publicly stated he would have spent more.
 
#12,886
#12,886
Rasputin_Vol said:
You can't turn our service economy around overnight.

Yes, we are a service economy. We don't make s^^t. Meanwhile, these "fake" economies like Russia, China and India actually make s^^t or grow s^^t that is tangible. That was how our economy in America used to be...
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We still make a lot of ****. The available labor just isn’t sufficient to fill every employment opportunity within these borders. The labor is in Asia. Even Latin America is facing the challenge of an aging workforce. It’s going to be like that for another 20 years. But the USA is still in better shape than most of the major economies.

Our economy “used” to grow things? When did we stop? Actually we are just far more efficient and mechanized so it no longer requires the same inputs of labor.

Russia, China, and India don’t have to follow the same rules as the US as far as environmental restrictions or utilization of Human Resources.
 
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#12,887
#12,887
IluvdoubleD's said:
What most of us already know, and have been telling you was coming since you lit everything on fire in 2020. The economy is going into the toilet. Let's hope no one flushes it! - CNN
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She has no idea what she is reading. She said that “home prices are up almost 15% IN APRIL”. No. They are up almost 15% in the 12 months through April. She also said people should “be in bonds”. Uh… no. Not a blanket statement without context. Short duration bonds are fine for parking cash for the short term as a not terribly risky investment (although with the current inflationary environment that cash will slowly degrade). Unless they are going to be held to maturity, longer term bonds aren’t very appropriate at all. Their principal will have large chunks lopped off with every rate hike and there are several of those on the way. But it is CNN. Just feeding crap to their dumb viewers as they always do.
 
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#12,888
#12,888
Thunder Good-Oil said:
We still make a lot of ****.
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We are not as self-sufficient as we should be, however.

Thunder Good-Oil said:
The available labor just isn’t sufficient to fill every employment opportunity within these borders.
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There is plenty of labor here. I know Boomers are aging out, but we have far too many bodies being used in service industry. The upcoming correction will resolve that issue, however.

Thunder Good-Oil said:
The labor is in Asia. Even Latin America is facing the challenge of an aging workforce. It’s going to be like that for another 20 years. But the USA is still in better shape than most of the major economies.
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I agree we are in better shape than most, but we will see a drop in standard of living either way.

Thunder Good-Oil said:
Russia, China, and India don’t have to follow the same rules as the US as far as environmental restrictions or utilization of Human Resources.
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There is a reasonable middle ground between the austere measures here and the wide open business over there.
 
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#12,889
#12,889
Rasputin_Vol said:
We are not as self-sufficient as we should be, however.

There is plenty of labor here. I know Boomers are aging out, but we have far too many bodies being used in service industry. The upcoming correction will resolve that issue, however.

I agree we are in better shape than most, but we will see a drop in standard of living either way.

There is a reasonable middle ground between the austere measures here and the wide open business over there.
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Yes. Our corporate and governmental leaders failed to see a problem of having our supply chain become dependent on an evil, corrupt CCP. But they aren’t facing financial challenges themselves. Insane stock based compensation packages and “donations” from lobbyists coupled with generous benefits packages took care of them.

Our elected leadership was also enticing entry level workers with $30k a year of benefits to NOT work. But there is still a shortage of workers as a whole at near unprecedented levels. There are 2 unfilled jobs for every unemployed member of the workforce.

Standard of living is relative. Even those that aren’t able to afford today’s luxury items are far better off than those in previous generations.

We could benefit in the long run by having some pain and difficult challenges presented to the spoiled element that has never faced an economic struggle. Some are hopefully going to have to learn to go without the daily visits to Starbucks for $4 cups of coffee.
 
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#12,890
#12,890
Thunder Good-Oil said:
Yes. Our corporate and governmental leaders failed to see a problem of having our supply chain become dependent on an evil, corrupt CCP. But they aren’t facing financial challenges themselves. Insane stock based compensation packages and “donations” from lobbyists coupled with generous benefits packages took care of them.

Our elected leadership was also enticing entry level workers with $30k a year of benefits to NOT work. But there is still a shortage of workers as a whole at near unprecedented levels. There are 2 unfilled jobs for every unemployed member of the workforce.

Standard of living is relative. Even those that aren’t able to afford today’s luxury items are far better off than those in previous generations.

We could benefit in the long run by having some pain and difficult challenges presented to the spoiled element that has never faced an economic struggle. Some are hopefully going to have to learn to go without the daily visits to Starbucks for $4 cups of coffee.
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So you’re saying sell Starbucks?
 
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#12,894
#12,894
NorthDallas40 said:
So all the markets took a big ole dump in the last hour, one day ahead of the next inflation report.

Somebody knows something and it’s gonna be bad?
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It’s just risk/reward IMO. The bots have calculated that a bad report will take away the recent gains but a good report won’t initiate a pop.

Interesting that the Wing Stop CEO guy was on CNBC today saying that their cost of chicken has gone from around $3 to about $1.67. Fuel at the pump prices are of course the huge drag on everything. Rising labor costs are another major issue.
 
#12,895
#12,895
volfanhill said:
Trump has just as much to blame for inflation as Biden. Hell he even publicly stated he would have spent more.
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Biden would have spent even more too. Build back broke was going to cost about 4 trillion. Was even trying to sell being able to bring down inflation by spending trillions more. What a loser. At the end of the day though, both parties are to blame. Sure, democrats wanted more money like they always do, but many republicans went along with these COVID packages and past "stimulus" packages. Washington spending money like this is equivalent to staying up and shooting tequila all night and then never expecting a hang over the next day.
 
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#12,897
#12,897
NorthDallas40 said:
So all the markets took a big ole dump in the last hour, one day ahead of the next inflation report.

Somebody knows something and it’s gonna be bad?
Click to expand...

Taking another dump today. This downward slide will continue with shortages, inflation, fuel prices, ect for the next few months. No getting out of it, the first dominoes have begun to fall.
 
#12,900
#12,900
BigOrangeMojo said:
Have to deal with CPI reports with calculation of Tax LIFO inventory for work. For the categories that I have to track, I can unequivocally say the reported CPI figures are BS..
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Oh wow. Thanks for that insight. While I assumed the number would be cooked it’s always good to know first hand reports from actual data.
 
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