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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 — the difference between shorter and longer-term bond yields — 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]
Lex Luthor 11:06 PM 09-10-2019
Originally Posted by mlyonsd:
If you think job growth is the only indicator of a healthy economy much like kotter thought the stock market is you're just as much a retarded chimp as he is and there's nothing else I can do for you.
When did I say that?
[Reply]
Lex Luthor 11:08 PM 09-10-2019
Originally Posted by GloryDayz:
That's where you're wrong.

And a vote for Hillary was, in essence, a vote that was wasted. Oh, and HRC is/was pure evil.

And what Trump has done so far, bring America back to a better place, is nothing short of Godly. That might be why you don't appreciate it.
:-)

Your "arguments" are:

1. HRC is/was pure evil
2. Trump is nothing short of godly

That's why it's a complete waste of time to attempt to have an intelligent conversation with you.
[Reply]
GloryDayz 11:10 PM 09-10-2019
Originally Posted by Lex Luthor:
:-)

Your "arguments" are:

1. HRC is/was pure evil
2. Trump is nothing short of godly

That's why it's a complete waste of time to attempt to have an intelligent conversation with you.
:-)
[Reply]
Mr. Kotter 11:17 PM 09-10-2019
Originally Posted by mlyonsd:
If you think job growth is the only indicator of a healthy economy much like kotter thought the stock market is you're just as much a retarded chimp as he is and there's nothing else I can do for you.
Please quote where I said "only"....

HINT: you won't find it, because you made it up; like most of your bullshit... :-)

Originally Posted by Lex Luthor:
When did I say that?
You didn't; he imagined it/lied about it...like he usually does.

FTR, I'm up due to tornado warnings; I suspect he's up due to the bourbon....
[Reply]
mlyonsd 09:38 AM 09-11-2019
Originally Posted by Lex Luthor:
When did I say that?
You responded to me out of the blue with one random rather insignificant stat. You tell me.

Kotter states only one even less significant stat.

Watching you and kotter discuss the economy is like watching two monkeys fucking a football down a gravel road.
[Reply]
Lex Luthor 09:48 AM 09-11-2019
Originally Posted by mlyonsd:
You responded to me out of the blue with one random rather insignificant stat. You tell me.

Kotter states only one even less significant stat.

Watching you and kotter discuss the economy is like watching two monkeys ****ing a football down a gravel road.
Don’t be a moron. Jobs created is a VERY significant statistic about how well an economy is doing. For you to claim otherwise is an indication of blind partisan support.
[Reply]
patteeu 09:57 AM 09-11-2019
Originally Posted by mlyonsd:
You responded to me out of the blue with one random rather insignificant stat. You tell me.

Kotter states only one even less significant stat.

Watching you and kotter discuss the economy is like watching two monkeys fucking a football down a gravel road.
Ain’t that the truth. smh
[Reply]
mlyonsd 10:03 AM 09-11-2019
Originally Posted by Lex Luthor:
Don’t be a moron. Jobs created is a VERY significant statistic about how well an economy is doing. For you to claim otherwise is an indication of blind partisan support.
Yeah I'm on here a lot bragging about a trump economy.

Your stat is less significant when unemployment is at record lows. People that want to work can find jobs.

You cherry pick one stat and leave out all the others that don't fit your partisan fake story.

You're a hack.
[Reply]
patteeu 10:11 AM 09-11-2019
Originally Posted by mlyonsd:
Yeah I'm on here a lot bragging about a trump economy.

Your stat is less significant when unemployment is at record lows. People that want to work can find jobs.

You cherry pick one stat and leave out all the others that don't fit your partisan fake story.

You're a hack.
Ain't that the truth. smh
[Reply]
JohnnyHammersticks 10:29 AM 09-11-2019
When the stock market is tanking, it IS a reflection of the overall economy - but when it's going up and within 400 points of setting a new record high, it ISN'T a reflection of the overall economy.

/Lex Libbitardo

:-)

Dow Rises Toward Six-Day Win Streak as China Makes Tariff Exemptions

Stocks rise after China says it will allow some exemptions to additional tariffs on U.S. imports as the two side prepare to restart trade talks.

by Rob Lenihan
Updated
Sep 11, 2019 11:07 AM EDT

https://www.thestreet.com/markets/do...tions-15086045
[Reply]
Lex Luthor 01:09 PM 09-11-2019
Originally Posted by JohnnyHammersticks:
When the stock market is tanking, it IS a reflection of the overall economy - but when it's going up and within 400 points of setting a new record high, it ISN'T a reflection of the overall economy.

/Lex Libbitardo

:-)

Dow Rises Toward Six-Day Win Streak as China Makes Tariff Exemptions

Stocks rise after China says it will allow some exemptions to additional tariffs on U.S. imports as the two side prepare to restart trade talks.

by Rob Lenihan
Updated
Sep 11, 2019 11:07 AM EDT

https://www.thestreet.com/markets/do...tions-15086045
I assume you made similar posts when the stock market TRIPLED in value and set record highs when Obama was President. Correct?
[Reply]
lawrenceRaider 01:14 PM 09-11-2019
Originally Posted by Lex Luthor:
I assume you made similar posts when the stock market TRIPLED in value and set record highs when Obama was President. Correct?
You mean came up from depression lows while the economy remained largely stagnant?
[Reply]
Otter 01:26 PM 09-11-2019
Originally Posted by Lex Luthor:
:-)
That's why it's a complete waste of time to attempt to have an intelligent conversation with you.
Just curious, what level of education do you find you present yourself?
[Reply]
Marcellus 01:35 PM 09-11-2019
Originally Posted by Lex Luthor:
I assume you made similar posts when the stock market TRIPLED in value and set record highs when Obama was President. Correct?
:-)

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!!
[Reply]
JohnnyHammersticks 01:36 PM 09-11-2019
Originally Posted by Lex Luthor:
I assume you made similar posts when the stock market TRIPLED in value and set record highs when Obama was President. Correct?
No, sorry. Didn't occur to me to do that during "the worst economic recovery since the 1930s".

Nice try though. :-)

FORBES - Obama Wins The Gold For Worst Economic Recovery Ever

If mismanaging an economic recovery were an Olympic event, President Obama would be standing on the middle platform right now, accepting the gold medal.

Deep recessions are supposed to be followed by strong recoveries, but, under Obama, the worst recession since the 1930s has been followed by the slowest economic recovery in the history of the republic. In a very real sense, there has been no recovery at all—things are still getting worse.

To win the gold for economic mismanagement, Obama had to beat out some very tough competitors, including the previous Olympic record holder, George W. Bush. Let’s look at how Obama pulled it off.

https://www.forbes.com/sites/louiswo.../#1f8c9dee3ca2

Spoiler!

[Reply]
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