stock market was up today...

#14,226
#14,226
It is quite remarkable -- BUT ENTIRELY PREDICTABLE --that the GOP gives the current administration no credit for the the 20-30 % run up of the last two years, but screeches how much at fault the administration is for a 5 % correction over the past week.

Y'all need to pick a theory and stick with it.
 
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#14,227
#14,227
knoxvol52 said:
Well looks like Stock Market went to he!! In a hand basket today.
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It’s complicated but Japan raised their interest rate from basically zero to 0.25%

This has forced a lot of institutions that were leveraging that to sell off now that the strategy to bank on JPY also lowering in value isn’t true for the moment.

Even though the stock market is too hot and overvalued. This probably won’t be a big deal. It’ll just look like a correction.

Institutions will be pushing a lot of FUD narratives though. Just don’t believe any of it. All you gotta do is watch oil. If oil goes down, we might have a problem. If not, it’s just a blip
 
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#14,228
#14,228
05_never_again said:
But why, if the markets have been so worried about Biden/Harris as you suggested?
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People should have been worrying about it all along, now they certainly are worrying about now that we see the labor market was weak all along and not where the gov't lead us to believe nor was inflation 'transitory" as they had people to believe. People kept buying stocks expecting interest rate reduction at the end of last year that never came.
 
#14,229
#14,229
lawgator1 said:
It is quite remarkable -- BUT ENTIRELY PREDICTABLE --that the GOP gives the current administration no credit for the the 20-30 % run up of the last two years, but screeches how much at fault the administration is for a 5 % correction over the past week.

Y'all need to pick a theory and stick with it.
Click to expand...
You made that point better than I was trying to.

If you want to ascribe moves in markets to a particular politician or political party, they either get credit for all the moves or none of the moves. Cherry-picking is partisan hackery. And both parties do it.
 
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#14,230
#14,230
jmacvols1 said:
People should have been worrying about it all along, now they certainly are worrying about now that we see the labor market was weak all along and not where the gov't lead us to believe.
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So you think the people who control billions in investments don't understand the job numbers?
 
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#14,231
#14,231
lawgator1 said:
It is quite remarkable -- BUT ENTIRELY PREDICTABLE --that the GOP gives the current administration no credit for the the 20-30 % run up of the last two years, but screeches how much at fault the administration is for a 5 % correction over the past week.

Y'all need to pick a theory and stick with it.
Click to expand...

It's about as dumb as criticizing an administration for job losses during a pandemic when states and the world shutdown then claiming credit for jobs created after the pandemic ended.
 
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#14,233
#14,233
lawgator1 said:
It is quite remarkable -- BUT ENTIRELY PREDICTABLE --that the GOP gives the current administration no credit for the the 20-30 % run up of the last two years, but screeches how much at fault the administration is for a 5 % correction over the past week.

Y'all need to pick a theory and stick with it.
Click to expand...

The market crashed because of covid. Covid is no longer a serious issue.

Unless you believe Biden solved covid worldwide, the rebound was more inevitable than a result of his policies
 
#14,236
#14,236
hog88 said:
So do we think the Fed will overreact in order to save the Harris candidacy and make a 2008/09 move on interest rates?
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08/09 move in rates was due to a financial and banking crisis, where multiple major banks were effectively insolvent and would have failed if they didn't do something. So unless that repeats itself, then absolutely not.

The Fed is in a tough spot, almost entirely of their own making. Many think they should have cut last week, or at least had a more dovish statement. However, if they cut inter-meeting like Fed fund futures are implying, that could be interpreted as a panic move confirming that they believe they got it wrong and the economy is even worse than everyone thinks.
 
#14,239
#14,239
lawgator1 said:
It is quite remarkable -- BUT ENTIRELY PREDICTABLE --that the GOP gives the current administration no credit for the the 20-30 % run up of the last two years, but screeches how much at fault the administration is for a 5 % correction over the past week.

Y'all need to pick a theory and stick with it.
Click to expand...
Yeah . . . because it's such a new thing for political parties to blame each and take credit irrationally for the economy.
 
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#14,241
#14,241
05_never_again said:
You made that point better than I was trying to.

If you want to ascribe moves in markets to a particular politician or political party, they either get credit for all the moves or none of the moves. Cherry-picking is partisan hackery. And both parties do it.
Click to expand...

Or you could be intelligent enough to include context
 
#14,243
#14,243
05_never_again said:
08/09 move in rates was due to a financial and banking crisis, where multiple major banks were effectively insolvent and would have failed if they didn't do something. So unless that repeats itself, then absolutely not.

The Fed is in a tough spot, almost entirely of their own making. Many think they should have cut last week, or at least had a more dovish statement. However, if they cut inter-meeting like Fed fund futures are implying, that could be interpreted as a panic move confirming that they believe they got it wrong and the economy is even worse than everyone thinks.
Click to expand...

Pic the worst long term move the Fed could possibly make for short term political gain and that's what they will do.
 
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#14,244
#14,244
05_never_again said:
Better than not being intelligent enough to understand the relatively simple point I was trying to make.
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Your point lacks context. You’re taking a deflated number from the covid pandemic and saying “look at this giant gain! Why don’t you credit him for this, but you blame him when it goes bad!”

When you include the context of solid pre covid economic numbers, the economy bouncing back post covid should be the expectation.
 
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#14,249
#14,249
utvolpj said:
Sure but it's statistically irrelevant when compared to the money managed by people employed to do it
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For about 90% of those workers with a 401k the best thing they should do with their investment right now is NOTHING. They should never touch their investment other than continuing to put money in it...like right now would be a good time to put more money in it. If 90% did that, there would not be this sell off today. If the people who manage my account where I have my money invested sell any of my stocks today, they will not be managing my account anymore.
 
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