Stock market panic around the world due to fears about the US entering a recession

Multiple stock market circuit breakers around the world were tripped and trading paused because of fears the US is going into a recession. Japan had the biggest dive since Black Monday of 1987. Friday's jobs report combined with the Fed deciding not to lower interest rates has the rest of the world terrified

I've been saying this for months, the economy doesn't seem so hot no matter how rosy a picture the Biden paints it with their numbers. Kamala better hope this is just a small panic blip. She doesn't want to try winning an election in a struggling economy

Today is bad

The NASDAQ dropped 6% right off the bat this morning but it's recovering. At 4.7% down right now.

Goldman Sachs has moved it's chances for a US recession this year from 10% last week to 25% today. JP Morgan is even more panicked. They went from 15% to 50% today

Yeah, this is what happens when we artificially inject a bull market for like 5 years straight, just like the 80's. Everything is 2x actual value right now. Surprised neither of you mentioned Buffet selling Apple.

[QUOTE=j3lademaster;14933404]Surprised neither of you mentioned Buffet selling Apple.[/QUOTE]

yea... sold 50% of his stake

good time to be buying put options

Since the beginning of Biden-Harris administration

Inflation up 21% and real wages down 1.9%

This is why we have to end buybacks. Buybacks create this bubble that can send an economy into a recession or depression at almost any time.

Buybacks don't improve a product, they don't create jobs, they don't contribute to tax revenue to help fight the deficit... there's no real value or even faith in a value to back these stock prices. Then the stocks enrich the investors who further create a lending bubble by borrowing against their new net wealth.

Corporate tax cuts are dangerous because this is what it creates.

Recession fears are overblown considering we just knocked Q2 GDP out of the park at 2.8% growth. So we are at least 6 months away from an official recession.

The Buffet sell off is not much to note either, his entire philosophy is the long game, he never tries to time the market, and he always has absurd amounts of liquid cash on hand.

And the other thing to note is that the Fed has been waiting for this, so that they can lower rates. Once they lower rates it is auto-economic spark of borrowing.

Looks like this was sparked by Japan reacting to recent jobs US data, which is weird, and I don't know how far this fear will take us, but I do think it will blow over.

[QUOTE=Hey Yo;14933409]
Inflation up 21% and real wages down 1.9%[/QUOTE]

The inflation is ridiculous.

[QUOTE=Bill Gates;14933413]Recession fears are overblown considering we just knocked Q2 GDP out of the park at 2.8% growth. So [B]we are at least 6 months away from an official recession.[/B]

The Buffet sell off is not much to note either, his entire philosophy is the long game, he never tries to time the market, and he always has absurd amounts of liquid cash on hand.

And the other thing to note is that the Fed has been waiting for this, so that they can lower rates. Once they lower rates it is auto-economic spark of borrowing.

Looks like this was sparked by Japan reacting to recent jobs US data, which is weird, and I don't know how far this fear will take us, but I do think it will blow over.[/QUOTE]That's not a long time.

[QUOTE=j3lademaster;14933426]That's not a long time.[/QUOTE]

From what I can tell Q3 projections for GDP look to be in the green as well. Unemployment ticked up slightly, but it is still low overall. The work force is still bigger than it's ever been.

I think in order to take recession fears seriously, we first need to see just one quarter of negative GDP. And we need to see unemployment over 5% because anything under 5% is too low.

I don't believe a single word from this government that said iraq has weapons of mass destruction

the same government that changed the definition of a recession to hide the fact we have BEEN IN ONE for years now

2 trillion dollars have vanished from the stock market so far

bill gates in here being like, ahhh that's just chump change bruh

lmao shut up

intel down 27%

"why this is good for the economy" on the next episode of CNN

[QUOTE=paksat;14933449]I don't believe a single word from this government that said iraq has weapons of mass destruction

the same government that changed the definition of a recession to hide the fact we have BEEN IN ONE for years now

2 trillion dollars have vanished from the stock market so far

bill gates in here being like, ahhh that's just chump change bruh

lmao shut up[/QUOTE]Please elaborate, what is a recession and what did the govt change to redefine it?

[QUOTE=j3lademaster;14933451]Please elaborate, what is a recession and what did the govt change to redefine it?[/QUOTE]

paksat's insight is gold, after he explains that everyone is poor, he'll tell you about all the expensive toys he can afford.

[QUOTE=j3lademaster;14933451]Please elaborate, what is a recession and what did the govt change to redefine it?[/QUOTE]

The classic definition has been 2 quarters of negative growth which the Biden administration went through but refused to accept we were in a recession because unemployment was so low

The Biden administration will have the lowest gdp growth of any prez since Bush Sr.

[QUOTE=Media Moderator;14933463]The classic definition has been 2 quarters of negative growth which the Biden administration went through but refused to accept we were in a recession because unemployment was so low

The Biden administration will have the lowest gdp growth of any prez since Bush Sr.[/QUOTE]

Biden has a +2.2% average with one more Q to add and Trump had a +2.3% :rolleyes:

MAGAS don't vote based on the economy.
They vote for Trump because he is their cult leader.

MAGAS can't hide their glee rooting against America.

Keep in mind, poorly educated.

Republicans are trying to pin today’s stock market drop on Joe Biden & Kamala Harris, saying it’s the worst ever. Not even close. The Dow really shat the bed under trump:

2020-03-16 −2,997.10 TRUMP
2020-03-12 −2,352.06 TRUMP
2020-03-09 −2,013.76 TRUMP

The Dow is still higher that it ever was under Trump.

[QUOTE=paksat;14933450]intel down 27%

"why this is good for the economy" on the next episode of CNN[/QUOTE]

they made their own bed. they've had major delays with their new manufacturing processes for their CPUs. they also missed the AI train unlike Nvidia and others, which is why they are now seeking private funding (well this and all the stock buybacks they did a couple years ago). their own leadership is to blame for their trajectory.

[QUOTE=Lakers Legend#32;14933474]MAGAS don't vote based on the economy.
They vote for Trump because he is their cult leader.[/QUOTE]

I'd say they do since roughly 2/3 of small business owners are Republican. Ask your global elite corporations though. They might agree with you

[QUOTE=Media Moderator;14933463]The classic definition has been 2 quarters of negative growth which the Biden administration went through but refused to accept we were in a recession because unemployment was so low

The Biden administration will have the lowest gdp growth of any prez since Bush Sr.[/QUOTE]2 quarters of a gdp drop isn’t enough information to strike it as a recession. Truth is, that is a very rudimentary and oversimplified rule of thumb. What do I base this off of? Mid 1940’s already set the precedence for this, they technically had a recession by your definition, but the faith in the job and overall economic market kept it from being a recession, the same way for Biden’s administration- which with time that faith proved to be warranted as we can see from being a bull market ever since.

With this sign, I expect interest rate cut coming very soon, perhaps 2 cuts before the year ends. I would urge against panic selling because nobody can predict the bottom.

[QUOTE=Media Moderator;14933400]Multiple stock market circuit breakers around the world were tripped and trading paused because of fears the US is going into a recession. Japan had the biggest dive since Black Monday of 1987. Friday's jobs report combined with the Fed deciding not to lower interest rates has the rest of the world terrified

I've been saying this for months, the economy doesn't seem so hot no matter how rosy a picture the Biden paints it with their numbers. Kamala better hope this is just a small panic blip. She doesn't want to try winning an election in a struggling economy[/QUOTE]

Oh no the world is going to end :roll:

[QUOTE=SATAN;14933495]Oh no the world is going to end :roll:[/QUOTE]

Existence is pain

The Bureau of Labor Statistics also admitted that it had overestimated the job gains in both May and June by a total of 29,000. This continues a nearly unbroken and highly suspicious trend that has resulted in the BLS [B]claiming big job gains each month – which garnered great press for Biden-Harris – then quietly cutting those numbers in subsequent months[/B], often by substantial amounts. So far [B][U]this year, 279,000[/U][/B] have disappeared.

[url]https://issuesinsights.com/2024/08/05/lousy-jobs-report-brings-out-the-worst-in-biden-harris/[/url]

iirc, last year, they DOWNWARDLY REVISED job numbers for 11 of the 12 months.

This story will be forgotten in 48 hours.

Remember Trump had his staged shooting three weeks ago and nobody remembers.

It's all a sham. Revised job numbers, more part-time jobs (with loss of full-time jobs), increase in mostly GOVERNMENT jobs (which we the taxpayers pay for), 16 million jobs "created" (recovery from covid) - scam to BOAST about how well the administration is doing. In addition, a trillion dollars in interest every 100 days, some countries abandoning US dollar as reserve currency, inflation killing the average American - we're skating on thin ice. This spending is unsustainable.

[video=youtube;XSQoorx7foI]https://www.youtube.com/watch?v=XSQoorx7foI[/video]

[QUOTE=rmt;14933602]It's all a sham. Revised job numbers, more part-time jobs (with loss of full-time jobs), increase in mostly GOVERNMENT jobs (which we the taxpayers pay for)[/QUOTE]
Everyone on this insane forum is working a full time job but it has to be a lie outside of here!

If you don't trust what the Bureau of Stats is throwing out, then look into the revenue of individual businesses. Ones that the entire country uses. Amazon, Google, Walmart, Starbucks, Chipotle, etc. Or is everyone in on the sham?

[QUOTE=Bill Gates;14933630]Everyone on this insane forum is working a full time job but it has to be a lie outside of here!

If you don't trust what the Bureau of Stats is throwing out, then look into the revenue of individual businesses. Ones that the entire country uses. Amazon, Google, Walmart, Starbucks, Chipotle, etc. Or is everyone in on the sham?[/QUOTE]

This dude is so mad right now


:roll:

Even with yesterday's overreaction, the S&P is up 16.5% on the year. That is a reflection of how businesses have done even if some are overvalued and need a correction.

Is that all one big lie too?

They could lie about one or two numbers, but you can't lie about them all.

[QUOTE=Bill Gates;14933630]Everyone on this insane forum is working a full time job but it has to be a lie outside of here!

If you[B] don't trust what the Bureau of Stats[/B] is throwing out, then look into the revenue of individual businesses. Ones that the entire country uses. Amazon, Google, Walmart, Starbucks, Chipotle, etc. Or is everyone in on the sham?[/QUOTE]

You're darn right I don't trust them - who would trust any stats that are 11/12 months wrong (last year) and (this year) 279,000 jobs off (and only 7 months have gone by). If you trust those stats, smh. And it's this job report that set off the 2 days of world-wide panic/selling.

Going by some of you on this board, the economy is just honky-dory, and Biden belongs on Mt. Rushmore.

[QUOTE=rmt;14933733]the economy is just honky-dory[/QUOTE]
yes
[QUOTE=rmt;14933733]and Biden belongs on Mt. Rushmore.[/QUOTE]
no

[IMG]https://s.yimg.com/ny/api/res/1.2/tLapk.iWkpJpBv.MZxR.FQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTY0MDtoPTM2MA--/https://media.zenfs.com/en/stockstory_922/8358bd3812263887dcecffd8029a7987[/IMG]
[url]https://finance.yahoo.com/news/starbucks-nasdaq-sbux-misses-q2-201918696.html[/url]

Believe it on not but Starbucks is actually a very decent indicator of the state of the economy. Because when people are really struggling one of the first things to go is their $8 overpriced iced-mocha-latte. And this is during a time when many are boycotting Starbucks. We can see their is a small dip at the start of 2024 but it is still selling near all time highs and still trending upward.

These are the type of things you can look into if you do not believe the overall numbers.

Amazon is another great indicator, when people are struggling they will pause when making that frivolous purchase.

[IMG]https://analyzify.com/wp-content/uploads/2024/05/amazon-statistics-for-annual-net-sales-revenue.png[/IMG]

People are buying more junk than ever before.

[QUOTE=Bill Gates;14933741][IMG]https://s.yimg.com/ny/api/res/1.2/tLapk.iWkpJpBv.MZxR.FQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTY0MDtoPTM2MA--/https://media.zenfs.com/en/stockstory_922/8358bd3812263887dcecffd8029a7987[/IMG]
[url]https://finance.yahoo.com/news/starbucks-nasdaq-sbux-misses-q2-201918696.html[/url]

Believe it on not but Starbucks is actually a very decent indicator of the state of the economy. Because when people are really struggling one of the first things to go is their $8 overpriced iced-mocha-latte. And this is during a time when many are boycotting Starbucks. We can see their is a small dip at the start of 2024 but it is still selling near all time highs and still trending upward.

These are the type of things you can look into if you do not believe the overall numbers.

Amazon is another great indicator, when people are struggling they will pause when making that frivolous purchase.

[IMG]https://analyzify.com/wp-content/uploads/2024/05/amazon-statistics-for-annual-net-sales-revenue.png[/IMG]

People are buying more junk than ever before.[/QUOTE]

I do not agree. The way I see Starbucks is that people (ESPECIALLY YOUNG PEOPLE) have given up hope - hope of getting ahead, of being able to afford kids, car, house while paying off student debt and are just living FOR THIS (indulgent) MOMENT.

Amazon is completely different - it is virtually a monopoly - for ease of buying, same day delivery, convenience, reviews, variety - it cannot be beat. I've tried to separate from it and have given up - not when all my kids and their room mates can order what they need and get it delivered at their doorsteps the next day.

It doesn't matter if Amazon is a monopoly or not (it's not), that doesn't mean that the entire population has to spend more money there. Oh well I tried, have fun living in your false great depression and letting everyone know how hard it is on your new iphone.

[QUOTE=rmt;14933764]I do not agree. The way I see Starbucks is that people (ESPECIALLY YOUNG PEOPLE) have given up hope - hope of getting ahead, of being able to afford kids, car, house while paying off student debt and are just living FOR THIS (indulgent) MOMENT.

Amazon is completely different - it is virtually a monopoly - for ease of buying, same day delivery, convenience, reviews, variety - it cannot be beat. I've tried to separate from it and have given up - not when all my kids and their room mates can order what they need and get it delivered at their doorsteps the next day.[/QUOTE]

Their is so much right with the above post. The global elite want us to feel this way and that's exactly what is happening. The youth have never had these things in mass, it's harder to want to fight for something you've never had anyway. Most will capitulate to the globalists. It's ok though because the globalists are on the side of social justice as long as we don't pay attention to the really important stuff

[IMG]https://i.ibb.co/wQxLkQz/Screenshot-2024-08-06-13-24-25-33-40deb401b9ffe8e1df2f1cc5ba480b12.jpg[/IMG]

The Trump campaign says Walz is a bad pick because he restored voting rights for convicted felons.

Donald Trump is a convicted felon.