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The Truth Is Out There
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
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2011
Re: Stock market panic around the world due to fears about the US entering a recessio
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The Truth Is Out There
Re: Stock market panic around the world due to fears about the US entering a recessio
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
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I get superstar calls
Re: Stock market panic around the world due to fears about the US entering a recessio
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.
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2011
Re: Stock market panic around the world due to fears about the US entering a recessio
Originally Posted by j3lademaster
Surprised neither of you mentioned Buffet selling Apple.
yea... sold 50% of his stake
good time to be buying put options
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NBA Legend
Re: Stock market panic around the world due to fears about the US entering a recessio
Since the beginning of Biden-Harris administration
Inflation up 21% and real wages down 1.9%
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I get superstar calls
Re: Stock market panic around the world due to fears about the US entering a recessio
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.
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Re: Stock market panic around the world due to fears about the US entering a recessio
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.
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NBA Legend and Hall of Famer
Re: Stock market panic around the world due to fears about the US entering a recessio
Originally Posted by Hey Yo
Inflation up 21% and real wages down 1.9%
The inflation is ridiculous.
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I get superstar calls
Re: Stock market panic around the world due to fears about the US entering a recessio
Originally Posted by Bill Gates
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.
That's not a long time.
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Re: Stock market panic around the world due to fears about the US entering a recessio
Originally Posted by j3lademaster
That's not a long time.
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.
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Good college starter
Re: Stock market panic around the world due to fears about the US entering a recessio
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
Last edited by paksat; 08-05-2024 at 02:16 PM.
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Good college starter
Re: Stock market panic around the world due to fears about the US entering a recessio
intel down 27%
"why this is good for the economy" on the next episode of CNN
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I get superstar calls
Re: Stock market panic around the world due to fears about the US entering a recessio
Originally Posted by paksat
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
Please elaborate, what is a recession and what did the govt change to redefine it?
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Re: Stock market panic around the world due to fears about the US entering a recessio
Originally Posted by j3lademaster
Please elaborate, what is a recession and what did the govt change to redefine it?
paksat's insight is gold, after he explains that everyone is poor, he'll tell you about all the expensive toys he can afford.
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