Rolling US Economy Into The Shitbin Thread

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http://bigpicture.typepad.com/comments/2007/10/more-inflation.html

El Tomboto, Thursday, 18 October 2007 23:44 (eleven years ago) Permalink

personally I'm applying for a civil servant position ASAP

El Tomboto, Thursday, 18 October 2007 23:45 (eleven years ago) Permalink

Just FYI, during the 1930s depression, many civil servants were paid with vouchers rather than cash, because local governments were unable to collect property taxes and their receipts fell into the shitbin.

Aimless, Friday, 19 October 2007 00:12 (eleven years ago) Permalink

Economy's doing poorly enough as it stands, why do we deliberately want to roll it into the shitbin?

Abbott, Friday, 19 October 2007 00:14 (eleven years ago) Permalink

Because that way Hillary can rescue us all.

Dandy Don Weiner, Friday, 19 October 2007 00:17 (eleven years ago) Permalink

lol property taxes

El Tomboto, Friday, 19 October 2007 00:18 (eleven years ago) Permalink

shitbin's a great word, BTW.

Dandy Don Weiner, Friday, 19 October 2007 00:20 (eleven years ago) Permalink

you been loving my thread titles lately

El Tomboto, Friday, 19 October 2007 00:26 (eleven years ago) Permalink

i came to this country some time ago with little more than a crippling debt burden in GB Pounds and the shirt on my back. i used to have to send back $1,200 each month to pay off my UK debt, and now I'm sending back over $1,400 to cover the same amount of debt repayment. that's two and a half thousand dollars disappearing from my tiny disposable income every year, for no explicable reason. i *heart* the decline of the US economy.

Roberto Spiralli, Friday, 19 October 2007 00:27 (eleven years ago) Permalink

anyway why start this thread now because the bit where ritholtz points out that domino's pizza can't print new menus fast enough to keep up with inflation was pretty fucking amazing

I wish rasheed wallace was still around to show us the latest and greatest exploding bubble blogs

El Tomboto, Friday, 19 October 2007 00:28 (eleven years ago) Permalink

wow Roberto that was some shitty timing, that sucks

El Tomboto, Friday, 19 October 2007 00:29 (eleven years ago) Permalink

This was in the paper today:

Mortgage defaults

Hit an annual rate of 1.5 million in September. That compares with 900,000 last year from fewer than 800,000 in 2005. At the current rate, more than one million Americans will lose their homes to foreclosure, making this the worst housing recession since the Second World War.

Housing starts

Sank to a 14-year low of 1.19 million in September. Starts are a vital economic engine, creating jobs and growth as people stuff their homes with sofas and TVs. Starts peaked at 2.3 million in early 2006, and the decline will be a drag on the rest of the economy until the slide stops.

Mortgages

A quarter of the roughly 50 million U.S. home mortgages are subprime. That's seven times the number of high-risk mortgages there were in 2001. That means that many more marginal homeowners have mortgages, making it far more likely they'll wind up in default.

House prices

Fell 3.2 per cent in the second quarter. Prices are falling faster and more broadly than they have in decades, according to the closely watched Case-Shiller index.

http://www.theglobeandmail.com/servlet/story/LAC.20071018.IBUSECONOMY18/TPStory/Business

everything, Friday, 19 October 2007 00:29 (eleven years ago) Permalink

where the hell is rasheed anyway?

economic blogs I read (they're all fairly liberal):

http://calculatedrisk.blogspot.com/
http://angrybear.blogspot.com/
http://delong.typepad.com/sdj/
http://www.marginalrevolution.com/marginalrevolution/
http://bigpicture.typepad.com/
http://www.janegalt.net/

Dandy Don Weiner, Friday, 19 October 2007 00:37 (eleven years ago) Permalink

In regard to inflation, in the USA during the past three years inflation has been soaring - but almost entirely in the housing sector. The fact that people are encouraged to see their houses as investments rather than as expenses doesn't mean that skyrocketing housing costs weren't inflationary. They were.

As the bubble market bursts, I predict a recession with an extra added bonus of inflation running close to 10% - before the end of 2008. As it has for the past 30 years, the official CPI will understate the real inflation rate. It was rigged under Reagan so that government entitlement programs indexed to the CPI would not increase at the true pace of inflation.

If Bush continues to shovel shit on the dollar right up to the end of his term in January 2009, the inflation rate could hit 15%-20% by 2010.

Aimless, Friday, 19 October 2007 00:55 (eleven years ago) Permalink

There are some good economics articles put up here as well:
http://www.VoxEU.org

stet, Friday, 19 October 2007 01:02 (eleven years ago) Permalink

Which shit on the dollar are you referring to?

Dandy Don Weiner, Friday, 19 October 2007 01:02 (eleven years ago) Permalink

As the bubble market bursts, I predict a recession with an extra added bonus of inflation running close to 10% - before the end of 2008.

lol

aaaaaaaaaaaaaaaaaaaaaaaaaa, Friday, 19 October 2007 06:11 (eleven years ago) Permalink

this is why i live in canada!

J0rdan S., Friday, 19 October 2007 06:13 (eleven years ago) Permalink

oh wait.

J0rdan S., Friday, 19 October 2007 06:13 (eleven years ago) Permalink

Guys, this is a good time stay in academia right?

Catsupppppppppppppp dude 茄蕃, Friday, 19 October 2007 11:51 (eleven years ago) Permalink

It's a good time to learn a European language.

Nubbelverbrennung, Friday, 19 October 2007 13:33 (eleven years ago) Permalink

Prime shit examples:

When Bush was elected in 2000, the federal budget was in surplus and the national debt was being paid down. Had this state of affairs continued, as projected, it would have led both to lower interest rates and a strong dollar, together. Instead, Bush submitted a series of enormous tax cuts to the Republican-controlled Congress and lobbied them through. Immediately, the CBO's projected budget surpluses turned to projected deficits for the next decade.

Bush also initiated a war of choice, not necessity, in Iraq. This war has already cost well over $700 billion. Yet, Bush insisted on making his tax cuts permanent. Overall, the national debt has increased under Bush by about $2 trillion in seven years. This represents a difference of about $3 trillion of debt from what was projected at the start of his first term.

Because, due to Bush's tax cuts and other policies, the Federal government was in a far weaker position to stimulate the economy when the recession started after 9/11, almost the entire stimulus was delivered via lower interest rates. Because these rate cuts were artificial, and not based on a stronger dollar, this stimulus not only inflated the current housing bubble, but it also undercut the dollar even more than the ballooning national debt did.

Now the dollar is at an all-time low against the euro and the canadian dollar. However, the incomes of the top 10% of American households have increased at a good clip, while the lower 50% of households have seen a decrease in income after inflation. This is largely thanks to Bush's shitty policies. I expect more of the same mismanagement until he is gone.

Aimless, Saturday, 20 October 2007 18:36 (eleven years ago) Permalink

I agree with everything you've just said. You're predictions still seem a tad extreme on the downside though, if I may so.

aaaaaaaaaaaaaaaaaaaaaaaaaa, Saturday, 20 October 2007 18:50 (eleven years ago) Permalink

i wonder if income inequality will ever arrive as a political issue in this country. americans tend to not begrudge the rich - so it'll have to be more of a "for everyone's good" type of angle. no?

jhøshea, Saturday, 20 October 2007 18:54 (eleven years ago) Permalink

I remember the 1970s and early 80s quite well. Back then people couldn't belileve it, either. Bush has done a bangup job of recreating many of the same policy errors under Johnson and Nixon that led to raging stagflation back then, except the underlying economy is now weaker than it was in the 1970s and the oil shocks we are likely to get are not political, as when OPEC was formed, but structural.

Oil will exceed $100/barrel some time this winter. The ever-weakening dollar will lead to smaller profit margins and rising retail prices on all imported goods (which means almost everything we buy in the USA). Transport costs will rise with pil prices. Stock prices will erode along with profits. With so many savings tied up in stocks and home equity, consumer spending will be crunched, and personal debt and bancruptcies will rise like a tide. Businesses will retrench and unemployment will rise. No end in sight.

I hope I am wrong.

Aimless, Saturday, 20 October 2007 19:07 (eleven years ago) Permalink

Anyone want to join my modern-day James Gang? We shall ride across the lower Midwest, robbing and pillaging.

milo z, Saturday, 20 October 2007 19:09 (eleven years ago) Permalink

sounds fun

jhøshea, Saturday, 20 October 2007 19:13 (eleven years ago) Permalink

Sorry, I don't want to relocate. But this scheme sounds ripe for franchising.

Aimless, Saturday, 20 October 2007 19:14 (eleven years ago) Permalink

Oil will exceed $100/barrel some time this winter. The ever-weakening dollar will lead to smaller profit margins and rising retail prices on all imported goods (which means almost everything we buy in the USA). Transport costs will rise with pil prices. Stock prices will erode along with profits. With so many savings tied up in stocks and home equity, consumer spending will be crunched, and personal debt and bancruptcies will rise like a tide. Businesses will retrench and unemployment will rise. No end in sight.

I hope I am wrong.

-- Aimless, Saturday, 20 October 2007 19:07 (14 minutes ago) Link

The coming of $100/barrel oil is not Bush's fault. It's yours and mine and everyone else's for using too damned much energy. I agree Bush could and should have done a lot more with policy to encourage energy efficiency, but there's little he could have done to stop oil's eventual rise to that price level.

Hurting 2, Saturday, 20 October 2007 19:26 (eleven years ago) Permalink

Part of the pricing of oil represents the weakness of the dollar. This hurts the USA more than it does other countries. US citizens are paid in dollars and the US government collects revenue in dollars, so they are stuck. EU countries can use euros to buy increasingly cheap dollars, so they don't see the same rise in prices as we do. The weakness of the dollar is mainly Bush's fault.

Aimless, Saturday, 20 October 2007 19:31 (eleven years ago) Permalink

The US also uses way more oil than other countries.

Hurting 2, Saturday, 20 October 2007 19:33 (eleven years ago) Permalink

he could have done to stop oil's eventual rise to that price level.
Not starting a war in Iraq would definitely have helped here.

stet, Saturday, 20 October 2007 19:57 (eleven years ago) Permalink

arrgh, if that won't work then
http://calculatedrisk.blogspot.com/2007/10/imf-mortgage-reset-chart.html

El Tomboto, Monday, 22 October 2007 17:47 (eleven years ago) Permalink

tombot u r freakin me out

gff, Monday, 22 October 2007 17:50 (eleven years ago) Permalink

i hope my small apartment + modest savings plan + job in "information services" is enough to weather the shitstorm, if it comes. i got myself out of credit card debt a few months ago, at least

gff, Monday, 22 October 2007 17:53 (eleven years ago) Permalink

well if you can hold down a job and don't have to worry about an ARM reset you should be okay, it's the homeowner with kids and a subprime loan and two cars who ought to be shitting themselves

El Tomboto, Monday, 22 October 2007 17:58 (eleven years ago) Permalink

apart from some student loans and binging on credit cards over a few years, i'm kind of debt phobic.

which has actually made me lose out over the past several years, i realize, since i pay for EVERYTHING with a debit/check card... i could have just paid that balance on a credit card with some rewards scheme and has some air miles or something

gff, Monday, 22 October 2007 18:00 (eleven years ago) Permalink

rolling gff personal finances into the shitbin thread, ha

gff, Monday, 22 October 2007 18:01 (eleven years ago) Permalink

This will give you a boner Tombot

http://nymag.com/guides/money/2007/39952/

Dandy Don Weiner, Wednesday, 31 October 2007 11:30 (ten years ago) Permalink

the economy increased by 3.9% this quarter! bull market forever, baby. economy's better than ever. golden age.

yet me and so many people I know are getting laid off next month. granted we're all in the writing/design field, but urhhhhh. gggg.

burt_stanton, Wednesday, 31 October 2007 14:58 (ten years ago) Permalink

http://nymag.com/guides/money/2007/catastrophist071105_560.jpg
http://nymag.com/guides/money/2007/catastrophist071105_2_560.jpg

^^^ lol

most of that guy's scenario is not really news to regular bigpicture/CR readers I don't think. But #5, the "we don't pay attention" thing, yeah, well, evidently the awareness campaign is underway, but hell if the big players are paying attention.

He also leaves out the approaching demographic catastrophe as millions of inexperienced thirtysomethings and even some late-twenties kids are forced to move into arguably tougher jobs that the boomers have been holding for two decades. Beyond the social security and healthcare costs associated with mass retirement, I don't really know if this generation has the work ethic and definitely not the rolodex to just start filling in and not fuck up royally. too busy updating their linkedin pages.

El Tomboto, Wednesday, 31 October 2007 15:11 (ten years ago) Permalink

can someone explain what "being upside down on your mortgage" means, in plain English?

Tracer Hand, Wednesday, 31 October 2007 16:14 (ten years ago) Permalink

essentially, owing more than your home is worth.

Dandy Don Weiner, Wednesday, 31 October 2007 17:10 (ten years ago) Permalink

also Tombot I'm not going to blame this generation as much as I blame their parents.

Dandy Don Weiner, Wednesday, 31 October 2007 17:11 (ten years ago) Permalink

isn't that the way people buy homes? by paying for the privilege of a loan?

Tracer Hand, Wednesday, 31 October 2007 17:12 (ten years ago) Permalink

When you enter into a contract with a bank for a mortgage, both you and the bank assume that the property value will not plummet. The bank doesn't want you to default any more than you want to default. But if for whatever reason you need to sell your home, and you can't get what you owe on it, then you will owe the difference to the bank. And the bank knows that when that happens, you probably will not have enough assets to cover the difference.

Predatory-type loans (which seems like a nebulous description to me) typically compound the problem because they have higher transaction rates (points, etc.)

Dandy Don Weiner, Wednesday, 31 October 2007 17:17 (ten years ago) Permalink

oh certainly! well played baby boom letting healthcare slide for the 20 years you've owned the electorate

El Tomboto, Wednesday, 31 October 2007 17:18 (ten years ago) Permalink

yeah Tracer it's also called "negative equity"

El Tomboto, Wednesday, 31 October 2007 17:19 (ten years ago) Permalink

I mean it goes without saying that *if* you are worried about your 401k or IRA right now at these high levels you can always redistribute your 401k into something less equity heavy for the near term and if you have an IRA at a regular brokerage you could always start moving to cash. But if you don't care or need the money anytime soon, hey let it ride. But yeah a lot in in the market is expensive. I don't know how individual buyers feel safe buying up there. But besides the overnight crash when Trump got elected there really hasn't been any real pull back besides one off days. It's stupid. Nothing matters.

Yerac, Friday, 29 June 2018 13:59 (three months ago) Permalink

Yes, I mean I wouldn’t touch my current investments or stop normal contributions. Just nothing new and significant.

Jeff, Friday, 29 June 2018 13:59 (three months ago) Permalink

"what are these mysterious luxuries you call 'investments'" - the entire millennial generation

aloha darkness my old friend (katherine), Friday, 29 June 2018 14:02 (three months ago) Permalink

i would look at the quality of employment rolled into that rate mr. shrub before making any grand proclamations (and yes, i thought this throughout the obama years as well)

maura, Friday, 29 June 2018 14:53 (three months ago) Permalink

Flat market is just as worrying, sometimes, as downs. It's like being stuck at the top of a rollercoaster. Nobody knows anything.

Josh in Chicago, Friday, 29 June 2018 15:06 (three months ago) Permalink

The market could also just stagnate for years, it's happened before

Fedora Dostoyevsky (man alive), Friday, 29 June 2018 15:13 (three months ago) Permalink

. . . except mr. snrub xp

mookieproof, Friday, 29 June 2018 15:14 (three months ago) Permalink

Why the capitalist class does this is something of a mystery. Don't they love growth? Well, they do, but only under the right circumstances. They present themselves as concerned with growth, productivity, and output above all else, but it turns out they are in reality a lot more concerned with high profits and a politically quiescent working class. A big economic boom is fine, but a tight labor market requiring wage increases that come out of the capitalist share of the corporate surplus — or worse, workers confident that they can get another job organizing union drives — is horrifying to them. Our capitalist overlords think they deserve easy profits and beaten-down workers who will take crappy wages and bad benefits without a peep or protests, and mobilize politically to rig the economy to make that happen.

http://theweek.com/articles/783356/how-capitalist-class-strangling-american-economy

the ignatius rock of ignorance (Dr Morbius), Wednesday, 11 July 2018 20:34 (three months ago) Permalink

Testifying before Congress in 1997, Greenspan attributed the “extraordinary’” and “exceptional” performance of the nineties economy to “a heightened sense of job insecurity” among workers “and, as a consequence, subdued wages.”

https://www.jacobinmag.com/2016/01/federal-reserve-interest-rate-increase-janet-yellen-inflation-unemployment

mookieproof, Wednesday, 11 July 2018 21:19 (three months ago) Permalink

janet-jackson-inflation-unemployment-control

macropuente (map), Wednesday, 11 July 2018 21:34 (three months ago) Permalink

one month passes...

Our Country was built on Tariffs, and Tariffs are now leading us to great new Trade Deals - as opposed to the horrible and unfair Trade Deals that I inherited as your President. Other Countries should not be allowed to come in and steal the wealth of our great U.S.A. No longer!

reggie (qualmsley), Thursday, 16 August 2018 16:00 (two months ago) Permalink

whenever I think a market correction is afoot it swings the other way immediately. I salute our algorithmic trading overlords.

dow down 1.17% yesterday
dow up 1.58% today

officer sonny bonds, lytton pd (mayor jingleberries), Thursday, 16 August 2018 20:53 (two months ago) Permalink

afaics, there are no obvious signs the party is over, yet.

otoh, the economy is surfing on big waves of misallocated capital, so it's obvious the party will end whenever the Fed chooses to raise rates far or fast enough to subdue the enthusiasm and flip greed to fear. 2019 seems about right, but who knows, really?

A is for (Aimless), Friday, 17 August 2018 02:41 (two months ago) Permalink

The general rumblings seem to be that tariff impact is playing out in so-far invisible ways -- less big plans being made by a wide variety of businesses, general caution, an eating of costs so as not to pass anything along to consumers. But there have been a slew of closings and relocations regardless, and the general sense is that things are worsening in ways that will become more evident with time. Which, a couple of months out from the midterms, is not exactly good timing.

Ned Raggett, Friday, 17 August 2018 02:49 (two months ago) Permalink

Without pretending to be able to fully appreciate this myself, I think sometimes we fail to appreciate how international most "American" corporations are today both in production and in sale of their goods and services, so that it can be really hard to predict what something like a tariff will do to "our economy," if by our economy you mean our corporations (the stock market) rather than the people who live in this country.

Fedora Dostoyevsky (man alive), Friday, 17 August 2018 02:58 (two months ago) Permalink

i'm not an expert economist but it does seem to me there could be some reasons why republicans are good for markets. market volatility is driven, by and large, by ignorance, as a wise investor isn't going to do a lot of trades. at the same time there's no reason for someone (who has the capital) to _not_ invest in the markets - either in the long term one's investment will increase or capitalism will collapse and fiat money will be worthless. so a political situation like the one america has now encourages stupid people to put their money in the markets while discouraging rational investors from taking their money out of the markets.

Arch Bacon (rushomancy), Friday, 17 August 2018 03:35 (two months ago) Permalink

Republicans are shit for markets and have been for decades. Read your recent history before you stick your foot in your dick again

El Tomboto, Friday, 17 August 2018 04:51 (two months ago) Permalink

Love the classic internet category of “I don’t have a clue, but I think...”

El Tomboto, Friday, 17 August 2018 04:52 (two months ago) Permalink

v specific but i pay attention because of work: rumors of four local(seattle) shipyards laying off because of tariffs, 400+ living wage jobs, but counter stories about ongoing federal contracts blunting that. nothing has happened yet, but first of this kind of rumor going around in 4+ years of watching closely

alomar lines, Friday, 17 August 2018 05:23 (two months ago) Permalink

I should say that having known about DJ Trump as an investor since the late 90s, the prudent choice is to short any institution he's affiliated with, particularly after an early term run up to a management payday.

Roomba with an attitude (Sanpaku), Friday, 17 August 2018 16:43 (two months ago) Permalink

There’s still way too many people taking the long position on US debt to make money shorting it I would think

faculty w1fe (silby), Friday, 17 August 2018 16:44 (two months ago) Permalink

The implication of this really is incredible: regular people working 40 hours a week are essentially working one day per week for free, with all their pay for that day going to the top 1% https://t.co/q0O3mpZvke

— Jon Schwarz (@schwarz) August 20, 2018

a Mets fan who gave up on everything in the mid '80s (Dr Morbius), Monday, 20 August 2018 19:33 (two months ago) Permalink

four weeks pass...

this has always been a (the?) goal for foreign-government support of trump and the GOP, no?

https://talkingpointsmemo.com/edblog/100966

This month, officials from France, Germany, and the UK have begun planning with China and Russia a special payments channel that would allow these countries to defy new American sanctions against any company doing business with Iran. This payment channel would bypass the American-dominated international banking system and the dollar.

reggie (qualmsley), Monday, 17 September 2018 16:40 (one month ago) Permalink

no, that's a specific response to Trump backing out of the Iran deal

Paleo Weltschmerz (El Tomboto), Monday, 17 September 2018 16:44 (one month ago) Permalink

'help put trump in office and egg him on to do stupid own-goal isolationist BS' is what i was getting at

reggie (qualmsley), Monday, 17 September 2018 17:24 (one month ago) Permalink

three weeks pass...

hi

𝔠𝔞𝔢𝔨 (caek), Thursday, 11 October 2018 02:27 (one week ago) Permalink

https://www.youtube.com/watch?v=gH476CxJxfg

21st savagery fox (m bison), Thursday, 11 October 2018 02:30 (one week ago) Permalink

also lol at the last 2 hours https://www.coinbase.com/charts

𝔠𝔞𝔢𝔨 (caek), Thursday, 11 October 2018 02:35 (one week ago) Permalink

Probably for the best all things considered

I have measured out my life in coffee shop loyalty cards (silby), Thursday, 11 October 2018 02:44 (one week ago) Permalink

Until things turn down by roughly 10% from the recent high water mark, this doesn't even qualify as a "correction". This could be due to traders tea-leaf reading, based on Trump's trade wars and uneasiness about the midterms, but without more data solidly showing retrenchment, this is just a round of profit-taking.

A is for (Aimless), Thursday, 11 October 2018 03:03 (one week ago) Permalink

Tbh I care more about interest rates continuing to go up than the stock market doing anything in particular, cheap debt has a lot of societal fuckery to answer for

I have measured out my life in coffee shop loyalty cards (silby), Thursday, 11 October 2018 03:17 (one week ago) Permalink

the NYT article says the markets will be back up on friday when several banks report Q3 results, which is going to show that sweet tax cut that will trickle down to the rest of us in Q4.

silby otm. the markets are not the economy but interest rates (and therefore housing and debt) are a big deal practically and electorally (which presumably is why trump is openly criticizing fed policy).

𝔠𝔞𝔢𝔨 (caek), Thursday, 11 October 2018 03:55 (one week ago) Permalink

At this point in the cycle, those interest rates need to be creeping up.

A is for (Aimless), Thursday, 11 October 2018 04:01 (one week ago) Permalink

totally. trump is wrong.

𝔠𝔞𝔢𝔨 (caek), Thursday, 11 October 2018 04:06 (one week ago) Permalink

Trump was bloviating about how the Fed was keeping rates too low, what, a year ago?

Fedora Dostoyevsky (man alive), Thursday, 11 October 2018 05:02 (one week ago) Permalink

I put it on another thread, but the general market needs to pull back at least by 30%. I hope it tanks the rest of the quarter. I've been waiting for it. It's like watching only the beginning of The Big Short over and over. The housing market is already mushy. And all this new money in the market from from people who haven't had to weather a downturn before..

Yerac, Thursday, 11 October 2018 11:00 (one week ago) Permalink

it's difficult, i mean, i _could_ pull back but at this point it's, you know, either the markets will recover or capitalism will collapse, and either way i don't have an incentive to not invest.

dub pilates (rushomancy), Thursday, 11 October 2018 14:01 (one week ago) Permalink

Yeah, the only reason not to invest is if you need money *right now* or very soon, like retirement. Otherwise, my understanding is that invested wealth doubles every 7-10 years or something, unless yeah, the economy collapses and never recovers.

Josh in Chicago, Thursday, 11 October 2018 15:14 (one week ago) Permalink

I want to cash out my 401k before the market crashes and the world is submerged by the melting ice caps

officer sonny bonds, lytton pd (mayor jingleberries), Thursday, 11 October 2018 15:19 (one week ago) Permalink

good to have cash 2 set on literal fire for warmth

YouTube_-_funy_cats.flv (Jimmy The Mod Awaits The Return Of His Beloved), Thursday, 11 October 2018 15:34 (one week ago) Permalink

I mean if you have sizable gains already you could cash out partial at least, you can always rebuy it back on dips. Don't lose all profits because you are married to a position. I am thrilled I got out of some equities on recent run ups. I missed out on additional gains but all are now under where I sold them anyway. Also I had a lot of 3xs lev etfs that are bearish so those were my hedge.

Yerac, Thursday, 11 October 2018 15:41 (one week ago) Permalink

Also, I think it's funny if we start the next recession almost on the 10 year anniversary of Lehman. It was jokingly expected.

Yerac, Thursday, 11 October 2018 15:48 (one week ago) Permalink

market apparently shrugging off yesterday like it was nothin'

officer sonny bonds, lytton pd (mayor jingleberries), Thursday, 11 October 2018 16:33 (one week ago) Permalink

feels like a trap

for i, sock in enumerate (Sufjan Grafton), Thursday, 11 October 2018 16:45 (one week ago) Permalink

lol you called it

frogbs, Thursday, 11 October 2018 18:46 (one week ago) Permalink

my 'shrug it off' comment is no longer valid.. 1% drop just turned into a 2% drop in 30 minutes

officer sonny bonds, lytton pd (mayor jingleberries), Thursday, 11 October 2018 18:56 (one week ago) Permalink

So I am hoping that no one will want to hold over the weekend and that will further the decline tomorrow and then asia will be all messed up when they start trading on our sunday that we can really get this recession started.

Yerac, Thursday, 11 October 2018 18:58 (one week ago) Permalink

the classic trap-two-bears-n-let-em-go trend

for i, sock in enumerate (Sufjan Grafton), Thursday, 11 October 2018 18:59 (one week ago) Permalink


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