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Washington DC and The Holy Land>Stock market on pace for worst December since Great Depression
Lex Luthor 03:25 PM 12-18-2018
Originally Posted by :
The stock market is on pace for its worst December since the Great Depression

Two benchmark U.S. stock indexes are careening toward a historically bad December.

Both the Dow Jones Industrial Average and the S&P 500 are on pace for their worst December performance since 1931, when stocks were battered during the Great Depression. The Dow and S&P 500 closed Monday down 7.6 percent and 7.8 percent this month, respectively.

December is typically a very positive month for markets. The Dow has only fallen during 25 Decembers going back to 1931.

The S&P 500 averages a 1.6 percent gain for December, making it typically the best month for the market, according to the Stock Trader’s Almanac.

While the S&P 500 began dissemination in 1950, the performance data was backtested through 1928. It’s worth noting that historically, the second half of December tends to see gains.
https://www.cnbc.com/2018/12/17/wors...r&par=sharebar



"The worst December since the Great Depression". "Market down over 1,000 points since the GOP tax plan was passed".

Wow.
:-) Are the Trump supporters getting tired of all this winning yet?

To be fair, you can't really blame the plunging Dow on the tax cut. Although it can be argued that adding $2 Trillion to the debt can't be good for the stock market, most analysts agree that it's more likely that Trump's idiotic trade war is the cause.

The recent performance of the Dow does show us two things:
  1. Trump is an idiot. Trade wars are NOT good, and they are NOT easy to win.
  2. The tax cut is not the magic cure-all that the GOP believes it to be. All it did was add $2 Trillion to the debt.

I'm just glad I pulled my 401-K funds OUT of the stock market when I did. I'm not putting them back in until after Trump leaves office. Of course, the way things are looking, that will probably be Q2 of 2019.
[Reply]
Iowanian 02:37 PM 12-20-2018
Originally Posted by DayeMania:
No more than how you all celebrated Americans being unemployed for politics from 2009-2016.

You voted for him, now you reap the rewards. Worst year for the market since 2008, WOW that is impressive. Great job Trump voters! :-):-):-):-)
Uhhhh. I've NEVER celebrated unemployment....EVER. I've been suggesting people get off their asses and make something happen for themselves and do something to improve their job and income options.
I've had at least one job every year since I was 13.


Dumbass.

I'm fortunate that I'm not trying to retire soon, so I see this as a buy opportunity.
[Reply]
DayeMania 03:00 PM 12-20-2018
Originally Posted by Iowanian:
Uhhhh. I've NEVER celebrated unemployment....EVER. I've been suggesting people get off their asses and make something happen for themselves and do something to improve their job and income options.
LOL what on earth are you talking about??? When the economy crashed and unemployment spiked towards 8% or whatever, you blamed that on individual decisions and laziness?!?!?

Hmm, let's go back and see:

Originally Posted by Iowanian:
Obama sucks.
...
Welfare recipients are through the roof, removing too many people from workforce permanently and falsely making unemployment numbers look better than they truly are.
...
Obama has quietly had more scandal and poor decision making than any president in recent history.
HAHAHAHAHAHAHAHAHA oh man instead of being happy, you accused Obama of faking the numbers when unemployment went down!

MORE SCANDALS than any president in recent history!!! Oh man this post aged like a fine ****ing wine, it is DELICIOUS :-):-):-):-):-):-)

Originally Posted by Iowanian:
A week later, the market has dropped over 710 points before the start of trading today............a week later, the weekly unemployment claims jumped mysteriously to 439,000 NEW claims.



Great Job Obama(and those who put him in office).


They call it "Hope and Change" because with your guy, no one can afford hope and CASH.
Hahahahahaha look at this retard celebrating Americans losing money and jobs for politics

"Dumbass." :-):-):-) :-):-):-)
[Reply]
Iowanian 03:01 PM 12-20-2018
That's not celebrating it at all. You're a spoon full of drool from getting to park close to Walmart.


Unemployment numbers were falsified under Obama...people who were no longer looking for jobs for long enough are not included.
[Reply]
DayeMania 03:03 PM 12-20-2018
You: "great job Obama", not celebrating at all
Me: "great job Trump voters", apparently celebrating?

:-):-):-):-):-):-)
[Reply]
DayeMania 03:03 PM 12-20-2018
Originally Posted by Iowanian:
Unemployment numbers were falsified under Obama...people who were no longer looking for jobs for long enough are not included.
Are people who are no longer looking for jobs now included in the stats again?
[Reply]
suzzer99 03:26 PM 12-20-2018
Thanks Trump for your chaotic, impulsive, deranged toddler leadership! I didn't need that nest egg anyway.
[Reply]
suzzer99 03:32 PM 12-20-2018
Originally Posted by DayeMania:
Are people who are no longer looking for jobs now included in the stats again?
We need to keep a running list of things Republicans FREAKED THE FUCK OUT about under Obama that they now completely ignore or support under Trump.

So far I got:

the U6 number
the national debt
the deficit
the debt celing
presidential vacations
presidential golf outings
gas prices
the stock market
decorum
ethics
Russia
whether or not the president is a Christian
truth
scandals
[Reply]
Iowanian 03:37 PM 12-20-2018
Originally Posted by DayeMania:
Are people who are no longer looking for jobs now included in the stats again?
If you've been looking for a job for 6 months-1yr in this economy and don't have one, you don't want one.


In your case, maybe there is a program that can help you back into a fast food opportunity.
[Reply]
DayeMania 03:39 PM 12-20-2018
Originally Posted by Iowanian:
If you've been looking for a job for 6 months-1yr in this economy and don't have one, you don't want one.


In your case, maybe there is a program that can help you back into a fast food opportunity.
So that's a "no, they did not change the way stats are counted"?

Does that mean the stats are still fake?
[Reply]
Otter 03:57 PM 12-20-2018
Originally Posted by suzzer99:
We need to keep a running list of things Republicans FREAKED THE FUCK OUT about under Obama that they now completely ignore or support under Trump.

So far I got:

the U6 number
the national debt
the deficit
the debt celing
presidential vacations
presidential golf outings
gas prices
the stock market
decorum
ethics
Russia
whether or not the president is a Christian
truth
scandals
The thing that can't live up to its own agreed upon standards is here preaching to others the value of honesty and integrity yet again.

You're a piece of work scuzzy!
[Reply]
Lex Luthor 04:03 PM 12-20-2018
The DOW is down another 464 points today. The Trump supporters insist that this is all the fault of the Federal Reserve.

They're wrong.

Here's why.

Originally Posted by :
This growing imbalance in the Trump economy is a terrifying sign we’re heading towards a major crash

The problem with the Fed hiking rates now is that Trump has already stressed the paychecks of most Americans. The rate hike will make matters worse. Most Americans are still living in the shadow of the Great Recession that started in December 2007 and officially ended in June 2009. More Americans have jobs, but their pay has barely risen when adjusted for inflation. Many are worse off due to the escalating costs of housing, healthcare, and education. And the value of whatever assets they own is less than in 2007.

Trump has added to their burden by undermining the Affordable Care Act, rolling back overtime pay, hobbling labor organizing, reducing taxes on corporations and the wealthy but not on most workers, allowing states to cut Medicaid, and imposing tariffs that increase the prices of many goods.

All of which suggests we’re careening toward the same sort of crash we had in 2008, and possibly as bad as 1929. Clear away the financial rubble from those two former crashes and you’d see they both followed upon widening imbalances between the capacity of most people to buy, and what they as workers could produce. Each of these imbalances finally tipped the economy over.

The same imbalance has been growing again. The richest 1 percent of Americans now takes home about 20 percent of total income, and owns over 40 percent of the nation’s wealth. These are close to the peaks of 1928 and 2007.

The underlying problem isn’t that Americans have been living beyond their means. It’s that their means haven’t been keeping up with the growing economy. Most gains have gone to the top. But the rich only spend a small fraction of what they earn. The economy depends on the spending of middle and working class families.

By the first quarter of this year, household debt was at a record high of $13.2 trillion. Almost 80 percent of Americans are now living paycheck to paycheck. The last time household debt was nearly this high was just before the Great Recession. Between 1983 and 2007, household debt soared while most economic gains went to the top. If the majority of households had taken home a larger share of national income, they wouldn’t have needed to go so deeply into debt. Similarly, between 1913 and 1928, the ratio of personal debt to the total national economy nearly doubled.

After the 1929 crash, the government invented new ways to boost the wages of most Americans – Social Security, unemployment insurance, overtime pay, a minimum wage, the requirement that employers bargain with labor unions, and, finally, a full-employment program called World War II. By contrast, after the 2007 crash the government bailed out the banks and pumped enough money into the economy to contain the slide. But apart from the Affordable Care Act, nothing was done to address the underlying problem of stagnant wages.

Without wage growth, most American workers can’t continue to buy. They’re in the same sort of debt trap that preceded the 2008 and 1929 crashes. Auto and home sales already are declining. The Fed’s rate hike will only worsen this. Ten years after the start of the Great Recession, it’s important to understand that the root of the collapse wasn’t a banking crisis. It was the growing imbalance between consumer spending and total output – brought on by stagnant wages and widening inequality.

That imbalance is back. Watch your wallets.
https://www.rawstory.com/2018/12/gro...Vjqfy0.twitter
[Reply]
Bugeater 04:27 PM 12-20-2018
Hmmm...what could contribute to wage stagnation....maybe flooding the market with cheap labor?





Nahhh...probably something else entirely.
[Reply]
'Hamas' Jenkins 04:31 PM 12-20-2018
Originally Posted by Bugeater:
Hmmm...what could contribute to wage stagnation....maybe flooding the market with cheap labor?





Nahhh...probably something else entirely.
Yeah, about that...

Prepared by the National Academies of Sciences, Engineering, and Medicine, the report looked at immigration trends over the past 20 years to assess the economic impact of the now more than 40 million people living in the United States who were born in other countries. It found that immigration has an overall positive long-term impact on the economy.

It’s true that first generation immigrants can take more money from state, local and federal governments than native-born citizens, and that especially on a state and local level, it can be costly to educate the children of immigrants. But the report found that as adults, children of immigrants in the next generation are huge boosters of the economy, contributing more to the government in taxes than either their first-generation parents or native-born citizens.

It’s the same story with wages. Over periods of ten years or more, immigration has only a small effect on wages of native-born workers. Those who are more likely to have their wages negatively affected are prior immigrants or native-born people without a high school degree. In some high-skill areas, immigration may actually increase wages; the report says this is evidence that high-skilled immigrants may be “complementary with natives, especially high-skilled natives; with human capital spillovers stemming perhaps from interactions among workers; or with high-skilled immigrants innovating sufficiently to raise the productivity of all workers.”

https://www.google.com/amp/amp.timei...-economy-study
[Reply]
Msmith 04:33 PM 12-20-2018
If you guys think the market will tank further, just cash out your stocks and change it to money market fund in your 401K. Wait till the market bottom out, then buy the stocks back. You will make it out like a bandit.
[Reply]
OmahaChief 04:39 PM 12-20-2018
Originally Posted by Lex Luthor:
The DOW is down another 464 points today. The Trump supporters insist that this is all the fault of the Federal Reserve.

They're wrong.

Here's why.



https://www.rawstory.com/2018/12/gro...Vjqfy0.twitter
Reich is a Dem operative and you know this. This is like posting some positive article from a Rep site. Worthless drivel.
[Reply]
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