the skynet we deserve
― i gotta be a gazpacho man (bizarro gazzara), Monday, 5 February 2018 21:38 (six years ago) link
"it's a flash crash.. no need to panic.." *dark metallic chuckles*
― illegal economic migration (Tracer Hand), Monday, 5 February 2018 21:50 (six years ago) link
vxx, which is supposed to roughly track the daily movement of the volatility index, is up like 40% after hours. Good chance another big drop coming tomorrow.
― Fedora Dostoyevsky (man alive), Monday, 5 February 2018 21:55 (six years ago) link
a jolly analyst comment: "I have a strong feeling that this sell off is going to intensify because bears are seeing blood on the street"
― mark s, Monday, 5 February 2018 21:57 (six years ago) link
Circuit breaker is an underrated Autechre album
― Le Bateau Ivre, Monday, 5 February 2018 21:59 (six years ago) link
it's just further proof of how decoupled the stock market is from the real economy
― Fedora Dostoyevsky (man alive), Monday, February 5, 2018 7:48 PM (two hours ago) Bookmark Flag Post Permalink
mind you, twitter is also busy with stuff like this:
Your periodic reminder that the Dow is a trash index and you can ignore it.— Jesper (@jandersen) February 5, 2018
― mark s, Monday, 5 February 2018 22:03 (six years ago) link
It is a trash index. 50% of the weighting from just 9 co's.
― Acanthonus armatus (Sanpaku), Monday, 5 February 2018 22:08 (six years ago) link
trashness of the dow is true but only relevant if other non-crap indexes show different trend; s&p also down 4% today
― flopson, Monday, 5 February 2018 22:11 (six years ago) link
yeah, that's a pointlessly pedantic point to make on a day when all the indexes crash
― Fedora Dostoyevsky (man alive), Monday, 5 February 2018 22:14 (six years ago) link
trump casinostrump steakstrump universitytrump america
― reggie (qualmsley), Tuesday, 6 February 2018 01:17 (six years ago) link
nikkei down nearly 7%
― 𝔠𝔞𝔢𝔨 (caek), Tuesday, 6 February 2018 05:25 (six years ago) link
darling nikkei
― But doctor, I am Camille Paglia (Bananaman Begins), Tuesday, 6 February 2018 11:04 (six years ago) link
Need a rolling global recession 2018-eotwawki thread imho
― El Tomboto, Tuesday, 6 February 2018 11:08 (six years ago) link
https://pbs.twimg.com/media/DVTiYqyW4AMkHSO.jpg:large
― calzino, Tuesday, 6 February 2018 11:27 (six years ago) link
tomboto otm
― how's life, Tuesday, 6 February 2018 11:28 (six years ago) link
Trump otm?
― American Fear of Pranksterism (Ed), Tuesday, 6 February 2018 11:32 (six years ago) link
I had a longer post about the expansion. In the money supply vs activity and how that lead to evaluation but I’d rather focus on firing the current POTUS out of a cannon.
― American Fear of Pranksterism (Ed), Tuesday, 6 February 2018 11:34 (six years ago) link
I need to preface this (as i should most posts) by saying that i don't know what i'm talking about but is this not a good thing, in some respects? Central banks seem to want to get to a position of sustainable wage growth, sustainable inflation and sustainable interest rates of about 2% - all of which are starting to line up. The stock market dip seems to be based on the idea that interest rates are likely to rise modestly so safe investments (like long-term savings bonds) are relatively more attractive than risky ones to some people.
It seems like you can have an ever-growing DOW and interest rates of close to 0% or you can have a wage increases / a return on normal savings accounts but you can't really have both. It sounds like the ECB is still printing money with the aim of getting to this scenario, rather than trying to avoid it.
― Wag1 Shree Rajneesh (ShariVari), Tuesday, 6 February 2018 11:54 (six years ago) link
iirc i think that trump tweet is a fake
― Men's Scarehouse - "You're gonna like the way you're shook." (m bison), Tuesday, 6 February 2018 11:59 (six years ago) link
tbf it's about the Dow Joans which is a totally different exchange
― drugs don't kill people, poppers do (Noodle Vague), Tuesday, 6 February 2018 12:01 (six years ago) link
Dow Joans is a character in steinbeck's "the grapes of WRTH"
also i agree with the take that the dow/stock market in general got overeager and this is a simple market correction, but we def seem due for a recession within the next year or two bc business cycle
― Men's Scarehouse - "You're gonna like the way you're shook." (m bison), Tuesday, 6 February 2018 12:02 (six years ago) link
that tweet is fake
https://www.snopes.com/did-trump-tweet-president-dow-joans/
joker's remorse
Sweet mother of god. Not for one second did I think people would believe that to be genuine.— Shaun Usher (@ShaunUsher) February 5, 2018
― maura, Tuesday, 6 February 2018 14:34 (six years ago) link
I mean 'Dow Joans' was an obvious tell but you seriously cannot win by trying to fake a Trump statement. Nothing is outside the realm of believability at this point.
― I'm very active in the pegasus community (Old Lunch), Tuesday, 6 February 2018 14:54 (six years ago) link
sahun usher go on gorilla channel
― But doctor, I am Camille Paglia (Bananaman Begins), Tuesday, 6 February 2018 14:57 (six years ago) link
Buy buy buy!
― Josh in Chicago, Tuesday, 6 February 2018 15:00 (six years ago) link
Wait, I mean, sell, sell, sell!
No, hold up. Buy buy buy!
if the market closes below 24,000 today, we'll have to arrest hillary and the kenyan
― reggie (qualmsley), Tuesday, 6 February 2018 15:25 (six years ago) link
I wonder if it was the bitcoin plunge that made people wary of a similar over-valuation in stocks, and they decided to take their profits before too many other people felt the same way.
― nickn, Tuesday, 6 February 2018 18:12 (six years ago) link
The Dow Joans is a bullshit index though, I look at the Nazdack and the S in P
― Fedora Dostoyevsky (man alive), Tuesday, 6 February 2018 18:55 (six years ago) link
― But doctor, I am Camille Paglia (Bananaman Begins), Tuesday, February 6, 2018 11:04 AM (seven hours ago) Bookmark Flag Post Permalink
^^ underrated post
― Le Bateau Ivre, Tuesday, 6 February 2018 18:59 (six years ago) link
Read that as "Nazidack" - i need to go home.
― Elvis Telecom, Wednesday, 7 February 2018 03:36 (six years ago) link
i guess this is what "the markets" are worried about
This Economist cover might become a classic. What happens when the govt delivers huge fiscal stimulus, nine years into the business cycle. We are about to find out. pic.twitter.com/NsCn0J9EkP— Joseph Lake (@EconomistLake) February 8, 2018
― 𝔠𝔞𝔢𝔨 (caek), Thursday, 8 February 2018 16:20 (six years ago) link
https://ftalphaville.ft.com/2018/02/07/2198503/someone-is-wrong-on-the-internet-wages-and-the-stock-market-edition/
login required, but tldr this argues:
- wages aren't actually rising that fast - low income wages certainly aren't rising that fast (these are the people who spend a greater fraction of their income, and thus have more influence on consumer spending) - bankers think wages are rising because bankers' wages are rising
― 𝔠𝔞𝔢𝔨 (caek), Thursday, 8 February 2018 16:29 (six years ago) link
my smart former philosopher hedge fund friend says it's just a minor correction since the market has been growing so much and he's not particularly worried
― Mordy, Thursday, 8 February 2018 16:48 (six years ago) link
My question for Joseph Lake would be why did it take 9 years for us to find out and what is it about now that's bringing the chickens home to roost? And I don't mean that rhetorically either, I'm not sure that isn't what's happening.
― Fedora Dostoyevsky (man alive), Thursday, 8 February 2018 16:49 (six years ago) link
Market still ... correcting. Apparently it did not listen to Trump's admonition that down is the wrong direction.
― Josh in Chicago, Thursday, 8 February 2018 18:13 (six years ago) link
Hovering just over 24000.
― Josh in Chicago, Thursday, 8 February 2018 20:42 (six years ago) link
This stock market needs a proper spanking.
― I'm very active in the pegasus community (Old Lunch), Thursday, 8 February 2018 20:43 (six years ago) link
The Fed could raise the margin requirements, but they won't.
― A is for (Aimless), Thursday, 8 February 2018 20:54 (six years ago) link
Doug Henwood, with graphs:
Since Trump has been bragging for months about the stock market’s strength, the selloff is a marketing challenge for him. His administration weighed in with the customary reassurances, with both White House flack Raj Shah and Treasury Secretary Steven Mnuchin pronouncing the “fundamentals” of the economy “strong.” (You might think that officialdom might be reluctant to repeat the sort of language used by Herbert Hoover in 1929 and John McCain in 2008, but no.)
When people say the economy is strong they mean that unemployment is low and we’re adding 180,000 jobs a month. But millions have dropped out of the labor force. If the same share of the population were working now as at the 2006 pre-recession peak, 8.4 million more would be employed. As the graph below shows, this is the second-worst expansion for job growth out of eleven....
https://lbo-news.com/2018/02/08/about-that-stock-panic/
― ice cream social justice (Dr Morbius), Thursday, 8 February 2018 20:59 (six years ago) link
fake news. chinese hoax. hillary's fault
― reggie (qualmsley), Thursday, 8 February 2018 22:11 (six years ago) link
How the fuck does only 52% of the population have a retirement account?
― Mr. Snrub, Friday, 9 February 2018 00:18 (six years ago) link
I'm surprised it's that high.
― louise ck (milo z), Friday, 9 February 2018 00:23 (six years ago) link
Results of a 2017 survey:
$0 saved: 39 percentLess than $1,000 saved: 18 percent$1,000 to $4,999 saved: 12 percent$5,000 to $9,999 saved: 6 percent$10,000 or more saved: 25 percent
I'm in the 39 percent.
― grawlix (unperson), Friday, 9 February 2018 00:24 (six years ago) link
yeah, no one is saving. the younger millenials I speak to have a bone-deep understanding of just how fucked they are.
― Simon H., Friday, 9 February 2018 00:28 (six years ago) link
does that same set of stats feature a breakdown by age group?
― Simon H., Friday, 9 February 2018 00:32 (six years ago) link
enjoying the official designations that down 10% is a 'correction' and down 20% is a 'bear market'
― mookieproof, Friday, 9 February 2018 00:32 (six years ago) link
yeah i don't really buy any of the currently circulating theories about why this is happening, prob more mass psychological than fundamental. stock markets been going gangbusters for a while, shiller PE ratios are huge so there's a lot lower it could fall (but that doesnt mean it will...)
― flopson, Friday, 9 February 2018 00:48 (six years ago) link