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Washington DC and The Holy Land>Trade Wars are good and easy to win. Dow drops 950 points.
Lex Luthor 01:51 PM 08-05-2019
Thanks Donald!

Originally Posted by :
Dow plunges more than 950 points after China devalues its currency

The Dow tumbled more than 950 points and global stocks were in disarray on Monday after China escalated the trade war with the United States.

The Chinese government devalued the yuan to fall below its 7-to-1 ratio with the US dollar for the first time in a decade Monday. A weaker currency could soften the blow the United States has dealt China with its tariffs.

The weak yuan ignited fear on Wall Street that a currency war has begun or that the United States would respond with even higher tariffs, prolonging the standoff with China and potentially weakening the global economy. Investors are particularly concerned that the Trump administration could try to devalue the dollar, sparking a currency war that could weaken Americans' purchasing power.

"Risks of Trump intervening in foreign exchange markets have increased with China letting the yuan go," wrote Viraj Patel, FX and global macro strategist at Arkera, on Twitter. "If this was an all out currency war - the US would hands down lose. Beijing [is] far more advanced in playing the currency game [and has] bigger firepower."

President Donald Trump once again called China a currency manipulator on Monday, saying the yuan devaluation was a "major violation." Trump has long attacked China for its currency policy, even though the Treasury has refrained from officially labeling the country a currency manipulator.

China announced Monday its companies have halted purchases of American agricultural goods. That helped to drive stocks even deeper into the red.

US stocks were sharply lower, with the Dow (INDU) falling more than 950 points, sinking below 26,000 points for the first time since June. The Dow was on pace for its third-worst point drop in history.

The S&P 500 (SPX) traded 3.7% lower, and could post its worst day of 2019. The Nasdaq Composite (COMP) fell more than 4%, its biggest decline since October 24, 2018. If the Nasdaq closes lower Monday, it will have logged its longest losing streak since November 2016, when it fell for nine-consecutive days in the lead-up to the presidential election.

The S&P 500 is on track for six consecutive down days for the first time since October, while the Dow is on track for its longest losing streak since March. Last week, the S&P 500 and the Nasdaq Composite logged their worst week of the year last week.

Hit particularly hard were tech stocks. Apple (AAPL), Intel (INTC), Microsoft (MSFT), Nvidia (NVDA) and Advanced Micro Devices (AMD) were among the biggest losers on Monday.

The VIX (VIX) volatility index soared more than 30% to a seven-month high. The CNN Business Fear & Greed Index is indicating "Extreme Fear."
Asian markets all fell more than 1.6% Monday, and Hong Kong's Hang Seng closed down 2.9% as protests continue in the region. In Europe, London's FTSE 100 finished down 2.5%. Germany's DAX and France' Cac 40 closed 1.8% and 2.2% lower, respectively.

US government bonds rose and yields fell as traders looked for safe investments. The 10-year Treasury yield declined to 1.7413%. The yield curve ó the difference between shorter and longer-term bond yields ó grew the widest since April 2007. That inversion of the yield curve has predated every past recession.

Escalating the trade war

The yuan weakened sharply after the People's Bank of China set its daily reference rate for the currency at 6.9225, the lowest rate since December. The central bank said in a statement that Monday's weakness was mostly because of "trade protectionism and new tariffs on China." President Donald Trump threatened a new round of tariffs on the country last week.
Devaluing the yuan is one way China has of retaliating against the tariffs. A weaker currency helps Chinese manufacturers offset the costs of higher tariffs.

Analysts at Capital Economics said the move showed that Beijing has "all but abandoned" hopes for a trade deal with the United States.

In US economic data, the non-manufacturing index for July from the Institute of Supply Management undercut consensus expectations, which didn't help matters.
https://www.cnn.com/2019/08/05/inves...day/index.html
[Reply]
Sweet Daddy Hate 06:04 PM 09-13-2019
Originally Posted by Lex Luthor:
The fact that you consider the years immediately prior to Trump taking office to be "ancient history" helps explain why your political posts are so horrifically bad.

You really should stick to The Lounge. All you do in the DC forum is embarrass yourself.
This from the vomit-frothing clown show who claimed Trump could NEVER be President, and then disappeared like a little bitch when proven wrong after running his fucking mouth for months.

You and Alnorth should offer to play "target" at the next Taliban goat semen circle-jerk, you half a bitch.
[Reply]
BucEyedPea 06:10 PM 09-16-2019
People wonder why companies want to leave the US.

https://www.wrdw.com/content/news/UA...560356411.html
[Reply]
Lex Luthor 06:31 PM 09-16-2019
Originally Posted by Sweet Daddy Hate:
This from the vomit-frothing clown show who claimed Trump could NEVER be President, and then disappeared like a little bitch when proven wrong after running his ****ing mouth for months.

You and Alnorth should offer to play "target" at the next Taliban goat semen circle-jerk, you half a bitch.
I didnít disappear, jackass. I just donít spend all day, every day on this site like you do. Youíre 100% wrong about this, just like youíre 100% wrong about everything else.

Arrogant, stupid, and angry is no way to go through life. Yet youíve made a career out of it.

Whatís hilarious about the nonsense you just posted is that YOU completely disappeared from the DC forum for at least a year, even as you continued to bombard the Lounge with your god-awful shitty sports takes.

It was a much better DC forum when you were gone. Feel free to run away and hide AGAIN like a little bitch.
[Reply]
Sweet Daddy Hate 06:39 PM 09-16-2019
Originally Posted by Lex Luthor:
I didnít disappear, jackass. I just donít spend all day, every day on this site like you do. Youíre 100% wrong about this, just like youíre 100% wrong about everything else.

Arrogant, stupid, and angry is no way to go through life. Yet youíve made a career out of it.

Whatís hilarious about the nonsense you just posted is that YOU completely disappeared from the DC forum for at least a year, even as you continued to bombard the Lounge with your god-awful shitty sports takes.

It was a much better DC forum when you were gone. Feel free to run away and hide AGAIN like a little bitch.
I think I'll stick around and watch you make a complete ass of yourself.

AGAIN.
[Reply]
scho63 05:37 AM 09-17-2019
Originally Posted by Sweet Daddy Hate:
I think I'll stick around and watch you make a complete ass of yourself.

AGAIN.
We've seen that rerun so many times already........:-)
[Reply]
Sweet Daddy Hate 08:42 AM 09-17-2019
Originally Posted by scho63:
We've seen that rerun so many times already........:-)
I believe he and Alnorth are in syndication now.
[Reply]
WhiteWhale 08:45 AM 09-17-2019
Originally Posted by Marcellus:
:-)

I love morons who chirp about Obama taking a 1-15 team and getting them to 8-8 and taking 8 years to do it.


I bet you are a closet Browns fan.

Whats really funny is you are the moron that started this thread and when presented with evidence it and you are stupid all you can say is but but but Obama!!
To be fair, Bush took a 12-4 team and buried them to 1-15.
[Reply]
chiefzilla1501 09:50 AM 09-17-2019
Originally Posted by Taco John:
I think it's pretty clear that we're winning the trade war. Trump is in the process of isolating China, and so far it seems to be working very well. We're within 45 days of seeing Britan reach a hard brexit, which will be followed by the dissolution of the European Union. Trump's trade war with China is only helping speed that along due to the connect to dynamics. Developing trade deals with Brazil in South America are looking to give Farmers relief. All in all things are looking pretty great.
China isn't isolated. We moved away from a TPP agreement which is fine, but the intent of that agreement was to build a stronger multilateral front to beat China. The problem is that to isolate China we are also isolating ourselves. And by the way, these are concessions to reduce the impact of an already costly trade war... They are not wins until they bring us back to a new normal. Any benefit we receive must must must outdo the massive costs we've already incurred in the system due to rising material costs and a good likelihood of marching toward recession. And any new trade partnerships have to keep in mind we've lost a TON of long term market share with China as this trade war has allowed markets like Brazil and Russia to ramp up long term supply capacity.

As I've said before, if China bends on IP and/or we get very very major concessions, great. Maybe it's worth the cost. But let's not sugarcoat it. We can't just win big at this point. We have to win in a blowout to justify the damage we've already done.
[Reply]
ChiefaRoo 10:11 AM 09-17-2019
Originally Posted by chiefzilla1501:
China isn't isolated. We moved away from a TPP agreement which is fine, but the intent of that agreement was to build a stronger multilateral front to beat China. The problem is that to isolate China we are also isolating ourselves. And by the way, these are concessions to reduce the impact of an already costly trade war... They are not wins until they bring us back to a new normal. Any benefit we receive must must must outdo the massive costs we've already incurred in the system due to rising material costs and a good likelihood of marching toward recession. And any new trade partnerships have to keep in mind we've lost a TON of long term market share with China as this trade war has allowed markets like Brazil and Russia to ramp up long term supply capacity.

As I've said before, if China bends on IP and/or we get very very major concessions, great. Maybe it's worth the cost. But let's not sugarcoat it. We can't just win big at this point. We have to win in a blowout to justify the damage we've already done.

ChiComs are going to lie and steal. You can’t make deals with them. It’s best to decouple our supply chains from them and treat them as a competitor.
[Reply]
JohnnyHammersticks 10:29 AM 09-17-2019
August 17th:
Originally Posted by JohnnyHammersticks:
Tariffs are working. What the mentally-challenged who are focused on a few down days in a market on a record bull run fail to see is that we hold all the cards in this "trade war". China will cave or implode under its own weight. That's a fact.

Once China caves - and it will - and the Fed cuts rates even more - and it will - you will see the stock market explode like never before. 30k+ Dow is coming.
Yesterday:
With Trump trade war a threat, Fed is set to cut rates again

https://www.apnews.com/38bd60d6f2f64f8daeb273b2042d03a8
[Reply]
chiefzilla1501 11:49 AM 09-17-2019
Originally Posted by ChiefaRoo:
ChiComs are going to lie and steal. You canít make deals with them. Itís best to decouple our supply chains from them and treat them as a competitor.
I still say the best thing we could have done was tear up TPP and bully our Asia trade partners to rewrite a better agreement. As long as China is our competition, competitor countries can produce goods faster and cheaper than we can. And now many of those countries are learning how to get to China by working around us. We needed drastic intervention, but total isolation is not the way to go.
[Reply]
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