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

[Media Moderator]

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

[Doomsday Dallas]

Today is bad

[Media Moderator]

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

[j3lademaster]

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.

[Doomsday Dallas]

Surprised neither of you mentioned Buffet selling Apple.

yea... sold 50% of his stake

good time to be buying put options

[Hey Yo]

Since the beginning of Biden-Harris administration

Inflation up 21% and real wages down 1.9%

[j3lademaster]

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.

[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.

[1987_Lakers]

Inflation up 21% and real wages down 1.9%

The inflation is ridiculous.

[j3lademaster]

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.

[Bill Gates]

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.

[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

[paksat]

intel down 27%

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

[j3lademaster]

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?

[Bill Gates]

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.