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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]
JohnnyHammersticks 12:49 PM 08-08-2019
Originally Posted by Over Yonder:
The poor guy does seem to step in fertilizer..... a lot!!!!


You know, a lot of OP's here at CP don't age well. A reasonable person can expect that considering the OP is generally trying to read the tea leaves so to speak. But, 3 days?? :-) Anybody happen to keep track? Isn't this one some kind of record or something? :-)

Can anybody off the top of their heads think of a classic CP backfire that happened quicker? It would be a cool read if you can :-)
There are 4 or 5 whose threads explode in their faces within seconds of them hitting "submit reply". We all know who they are.

Coincidentally, I was filming a documentary about the loneliest person on earth and I happened to catch Lex right as this thread was submitted.


[Reply]
Lex Luthor 03:18 PM 08-14-2019
I've been telling you guys for over a year that Trump's idiotic trade war is going to harm the economy and trigger a recession, but you refuse to believe it.

The Dow is down big time again today, and the inverted yield curve is the harbinger of a recession.

I realize I'm wasting my time on most of you. You can lead a Trump supporter to information, but you can't make him think.

Dow tumbles 800 points after bond market flashes a recession warning

YIELD CURVE INVERTS: Recession indicator flashes red for first time since 2005

The Yield Curve Has Inverted And You Should Sell Your Stocks
[Reply]
Reerun_KC 03:20 PM 08-14-2019
And you also told us that Avenatti is Americans worse nightmare.


Just shut up already.
[Reply]
Lex Luthor 02:13 PM 08-23-2019
Another awesome day in the stock market. Trump tweets out that he thinks the Chairman of the Federal Reserve Board is a bigger "enemy" that Chairman XI of China, he "orders" American businesses to find alternatives to doing business with China, and the market tanks yet again.

Someday the Trump supporters will understand that handing over the control of the economy to a con man who went bankrupt 6 times was a bad idea.

Whatever happens, don’t let anyone get away with saying the chaos, ineptitude, cruelty, and corruption of the Trump presidency were unknowable. All of it was entirely predictable, and indeed predicted by many.

— Dan Rather (@DanRather) August 23, 2019

[Reply]
rabblerouser 02:15 PM 08-23-2019
Originally Posted by JohnnyHammersticks:
Live webcam of America-hating Lex Loser watching the Dow go green after being down big earlier today:

:-)
:-)
[Reply]
rabblerouser 02:17 PM 08-23-2019
Originally Posted by Lex Luthor:



https://www.dailysignal.com/2015/10/...george-w-bush/
[Reply]
New World Order 02:17 PM 08-23-2019
Originally Posted by Lex Luthor:
Another awesome day in the stock market. Trump tweets out that he thinks the Chairman of the Federal Reserve Board is a bigger "enemy" that Chairman XI of China, he "orders" American businesses to find alternatives to doing business with China, and the market tanks yet again.

Someday the Trump supporters will understand that handing over the control of the economy to a con man who went bankrupt 6 times was a bad idea.

When we have a weak economy we'll let you know.
[Reply]
Lex Luthor 02:20 PM 08-23-2019
Originally Posted by New World Order:
When we have a weak economy we'll let you know.
No, you won't. You will continue to claim that everything is wonderful, thanks to the self-proclaimed "Chosen One".

You'll never admit that your Orange Emperor has no clothes. You and about a dozen other posters have already proven that beyond all doubt.
[Reply]
rabblerouser 02:21 PM 08-23-2019
Originally Posted by New World Order:
When we have a weak economy we'll let you know.
Funniest part is the quote from Dan Rather - a known liar with a bias against conservatives. :-)
[Reply]
rabblerouser 02:22 PM 08-23-2019
Originally Posted by Lex Luthor:
No, you won't. You will continue to claim that everything is wonderful, thanks to the self-proclaimed "Chosen One".

You'll never admit that your Orange Emperor has no clothes. You and about a dozen other posters have already proven that beyond all doubt.
I didn't vote for Donald Trump...but I still laugh at how you cast aspersions on others that should be applied to yourself.
[Reply]
rabblerouser 02:23 PM 08-23-2019
Are RodeoPanties2 and Lex Loser the same ****ing person?
[Reply]
New World Order 02:25 PM 08-23-2019
Originally Posted by Lex Luthor:
No, you won't. You will continue to claim that everything is wonderful, thanks to the self-proclaimed "Chosen One".

You'll never admit that your Orange Emperor has no clothes. You and about a dozen other posters have already proven that beyond all doubt.
Sure I will

I'll even do it without blaming the other side.
[Reply]
New World Order 02:32 PM 08-23-2019
Originally Posted by rabblerouser:
Are RodeoPanties2 and Lex Loser the same ****ing person?
I've always thought Rodeo was that guy who was really high on Bernie Sanders.

I can't think of his name though.
[Reply]
JohnnyHammersticks 02:46 PM 08-23-2019
Originally Posted by Lex Luthor:
Another awesome day in the stock market. Trump tweets out that he thinks the Chairman of the Federal Reserve Board is a bigger "enemy" that Chairman XI of China, he "orders" American businesses to find alternatives to doing business with China, and the market tanks yet again.

Someday the Trump supporters will understand that handing over the control of the economy to a man under whose leadership the stock markets have set record highs over 100 times since his election was a good idea.
fyp

https://www.marketwatch.com/story/tr...ort-2019-04-24
[Reply]
Lex Luthor 03:13 PM 08-23-2019
Originally Posted by JohnnyHammersticks:
fyp

https://www.marketwatch.com/story/tr...ort-2019-04-24
Market performance by president:



2019 is also the highest year on record. Kudos to Trump for that accomplishment. He had just as much to do with that as the stock market.

We keep pointing out that Trump inherited a rising stock market and a good economy, but you don't seen to understand. Look at the graph.
[Reply]
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