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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.
patteeu 06:38 PM 01-17-2020
Originally Posted by Over Yonder:
Don't tell me you are another one of these people who can predict the future. My dad must of had shitty genetics or something. I can't reliably see past today. :-)

But if you don't mind sharing, what day is this balloon gonna burst? I can jump all in until the night before :-)
I'd be happy to manage your money for you for a cut of the growth. Don't worry, I've got a system.
Over Yonder 06:53 PM 01-17-2020
Originally Posted by patteeu:
I'd be happy to manage your money for you for a cut of the growth. Don't worry, I've got a system.
I've got a system when I shower. I ALWAYS was my face before I wash my butt.

Nobody can call me a butt face :-)
scho63 07:32 PM 01-17-2020
US housing starts soar 16.9% in December to a 13-year high

Damn Trump! This guy won't stop with this great economy stuff! What a rotten guy we have to remove from White House. :-):-)


U.S. homebuilding surged to a 13-year high in December as activity increased across the board, suggesting the housing market recovery was back on track amid low mortgage rates, and could help support the longest economic expansion on record.

Housing starts jumped 16.9% to a seasonally adjusted annual rate of 1.608 million units last month, the highest level since December 2006. The percentage gain was the largest since October 2016. Data for November was revised higher to show homebuilding rising to a pace of 1.375 million units, instead of advancing to a rate of 1.365 million units as previously reported.

Economists polled by Reuters had forecast housing starts would increase to a pace of 1.375 million units in December.

Housing starts soared 40.8% on a year-on-year basis in December. An estimated 1.290 million housing units were started in 2019, up 3.2% compared to 2018.

Building permits fell 3.9% to a rate of 1.416 million units in December after hitting their highest level in more than 12-1/2 years in November.

Here’s a breakdown of December housing starts
The housing market is regaining momentum after the Federal Reserve cut interest rates three times last year, pushing down mortgage rates from last year’s multi-year highs. The 30-year fixed mortgage rate has dropped to an average of 3.65% from its peak of 4.94% in November 2018, according to data from mortgage finance agency Freddie Mac.

Though a survey on Monday showed confidence among homebuilders dipped in January, it remained near levels last seen in mid-1999. Builders said they “continue to grapple with a shortage of lots and labor while buyers are frustrated by a lack of inventory, particularly among starter homes.”

The housing market accounts for about 3.1% of the economy. Residential investment rebounded in the third quarter after contracting for six straight quarters, the longest such stretch since the 2007-2009 recession. It is expected to contribute to gross domestic product again in the fourth quarter.

Single-family homebuilding, which accounts for the largest share of the housing market, jumped 11.2% to a rate of 1.055 units in December, the highest level since June 2007. Single-family housing starts rose in the Midwest and the populous South. They, however, fell in the Northeast and West.

Single-family housing building permits slipped 0.5% to a rate of 916,000 units in December after rising for seven straight months.

Starts for the volatile multi-family housing segment vaulted 29.8% to a rate of 553,000 units last month. Permits for the construction of multi-family homes fell 9.6% to a rate of 500,000 units.
F150 07:35 PM 01-17-2020
But Fake Trade deal?
lewdog 09:26 AM 01-18-2020
Originally Posted by Over Yonder:
My money is "on the bench" right now, too. Playing it conservatively is an investment strategy, also :-) Sure, I have lost some sweet gains. BUT, when this balloon pops, I will not lose what I currently have, either.

And what do you mean who cares if a correction is coming? Do you have a printing press in your basement or something? I would think every breathing soul with a dime in the markets would care. It's fine to have faith that a correction will always come back, but for some that wouldn't matter.

Time and a clear vision of tomorrow is not always a given...... well, I would suggest it's virtually NEVER a given, but that's just me :-)
You should only be parking money on the sideline if you’re within a decade of retirement. And even then, not investing a portion of that money will cause you to outlive your money. People underestimate how much money they’ll need to take care of themselves when they’re old.
F150 09:44 AM 01-18-2020
Originally Posted by lewdog:
You should only be parking money on the sideline if you’re within a decade of retirement. And even then, not investing a portion of that money will cause you to outlive your money. People underestimate how much money they’ll need to take care of themselves when they’re old.

Much wisdom.

We have been fortunate to have made dramatic gains and along the way have rebalanced regularly to capture losses as possible to offset gains we took for tax purposes and moved from more volatile to less volatile stocks and bond funds.

Easy to say that if you retire at 65, you will need dividends and interest plus some drawdown of principal as inflation ramps up and you live into your 80s

m constantly amazed at young folks who dont understand the value a IRA/Roth/and 401k's will mean in their retirement days
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