Rolling US Economy Into The Shitbin Thread

Some local medical cannabis upstart literally just sold a few weeks ago for six hundred million dollars.

The people who genuinely make a fortune on weed will be those who make their fortune off the other people who want to make a fortune on weed.

just like the gold rush or the dotcom boom

Oh I remember that pot penny stock craze, athough I thought it was earlier than 2014. I speculated a bunch but they were all busts.

I've talked with a couple of people who have invested in the industry, and their faith/money is based less in the ultimate success of the product/industry and more about gambling the things they invest in get bought out by Budweiser or Pfizer or whatever.

I just like market manipulation due to low float. It's a game.

@Yerac if you have the trading bug you should check out nanocap/pink sheet trading, it can be fun. Early last week I bought a million shares of VYST at .0007, and sold for a good profit in the teens and finally .0021... But if I'd held you'll see it went to almost .02 this week and my initial $700 investment would have been worth $18k lol.

I don't really trade OTC/pink sheets anymore. Although I have in the past a little, but I usually keep my portfolios in about 20 equities (mostly tech and biotech, retail, some randoms) for dividends or swing trading and then do most daytrading in commodity lev etfs/etns.

Yeah I'm addicted to the otc trash tbh. Big board/blue Chip stuff is infinitely more liquid (not to mention marginable) but I've found I cannot consistently outwit the HFT's/ hedge fund managers/Goldman trades/aliens that run it

Goldman traders i mean

I only had to have a couple of things go illiquid and have paid to get it removed from my account before I decided it was too much hassle. Plus I don't like things I can't premarket or afterhours trade.

anyone know anything about Marcus by GS or similar online savings high APY accounts?

I just did a cursory look because I didn't know they were offering regular savings accounts/cds now. The rates look good. If you just want to deposit and leave it, it seems like a good choice. The last time I reviewed these I opened a Schwab checking and savings which I never funded. But it was primarily for the no fee worldwide atm usage.

I do that with Ally. They currently pay 0.25% less than Goldman and they’ve been one of if not the top earner all the time I’ve banked with them. Also they’re not Goldman Sachs you know?

Oh, does Ally have a high rate? I have one account with them from when it got moved over from Tradeking. I was actually thinking of moving it to Interactive, so all my accounts would be there, but I kind of hate their platform.

Places I have had an account: E*Trade, TD Ameritrade, Morgan Stanley, Scottrade, Tradeking, Ally whatever it's called now, Interactive Brokers, Washington Mutual, Chase.

Ally has a checking and high interest savings account. They have a broker thing but I don’t know much about it. And I don’t believe the checking account is remarkable. But the savings account is the one all the reddit personal finance and early retirement needs recommend.

turns out ally's savings rate is 2.2% not 2.0%, which must have happened in the last couple of days. ally isn't a fuzzy credit union, but it's not goldman sachs.

I have a Marcus account now--I liked it because it was really easy to connect with my main bank account (maybe Ally is like that too).

I have most of my money now in either interest-bearing savings accounts or CD ladders (which don't get a huge amount more interest than the savings accounts, 2.5-3%). I have maybe 10-20% in index funds and a bit in bond funds too. A friend told me she has most of her money in T-bills. Sentiment seems pretty bad right now.

Thank u all. Mostly just interested in a cash hole w my partner and online/non brick and mortar seem to have dope rates. I figure I’m participating in the annoying parts of capitalism so Goldman vs Ally and that .15 percent might be worth it. They’re all crooked deep down

and the phrase 'complimentary disco' should strike terror into anyone's heart

― Milton Parker

they turned Supertrain into a hotel?

People have no idea how easy it will be for legalization to create a massive oversupply of weed.

― A is for (Aimless)

no, no. i'd say we're pretty aware of exactly how easy it is here in portland.

fwiw my CD ladder is through a Fidelity account -- they made it pretty easy to set up. I have an old rollover IRA there and also set up a brokerage account there.

https://pbs.twimg.com/media/Dxdj4a6VsAAm2ue.jpg

We both have our own retirement/long term accounts so the idea was for a mattress/emergency fund that would be more liquid than a CD xp

My CU pays high (4%ish) interest on the first $500 in each of my primary checking and savings accounts which for the amount of cash I have there results in a fairly generous effective APY.

(In lieu of debit card rewards I suppose)

is that the actual Storm Shadow or just a Storm Shadow cosplayer

https://www.bloomberg.com/news/articles/2019-03-22/u-s-treasury-yield-curve-inverts-for-first-time-since-2007

everything needs to reset already. That blip in december was nothing.

https://www.marketwatch.com/amp/story/guid/2FEA4280-4A57-11E9-ABE5-16C30B035A18

nice companion piece to flopson's link

“We no longer have business cycles; we have credit cycles.”

otm

https://pbs.twimg.com/media/D8PBXXfWsAA8yrB.jpg:small

oops

fed to lower interest rates idk much about this stuff but it seems like not a good idea

It’s a stimulus for an economy that’s been growing for like 10 years running. Trying to head off any effects from a global slowdown/tariffs.

booooo

I feel like I don’t understand anything anymore. The economy makes no sense to me.

it's frustrating how you can't even really talk about it without it revolving entirely around trump's madness.

the way employment is tabulated seems designed to flatter wall street into thinking pro shareholder policies aren’t ruinous to everyone else but what do i know

It also seems like economists are finally being cool with massively stimulating the economy with government spending & rate cuts and it doesn't completely fuck things over.. only they're doing it in year 10 of an economic expansion and for the worst president in the history of the republic

still haven't reached all 2018 highs. Could still crash this year.

There are legitimate reasons to support a rate cut here. One that comes to mind is that it would be better to let inflation run a bit hotter. Of course that’s not the reason Trump wants a rate cut.

See, one tweet and to the shitbin we go.

makes no sense to me

The lament of a lot of investors. Since 2008 and Fed quantitative easing, we get enormous asset inflation, but no trickle down or real wage growth. Undoubtedly, we're also getting enormous malinvestment from the below-market credit prices, but that doesn't matter, until it does.

Maybe its just too many years of Catholic theology classes and skeptical exposure to Austrian economics, but I can't but suspect there is a long term hell for the sin of a decade of effectively free money for the bankers.

For example, the entire reason petroleum and natural gas fracking has been viable at all for the past decade is super low rates on junk bonds. All those upstream O&G cos have or are going bankrupt, because you can only be cash-flow negative for so long. Malinvestment.

Some of that has been visible in retail, but there Amz is an easy scapegoat. But my spidey sense is that its more pervasive.

here we go, maybe?

eh, this stock market has been doing shit like this all the time lately. it might continue to plunge or it might rebound by mid-afternoon.

The market has been pretty blasé about ratcheting tensions around the globe for a while now. How much longer can it whistle past the graveyard with Hong Kong, Iran, Brexit, China trade war, an increasingly untethered Trump, etc? Not to mention slowdown in Europe.

yeah it has been remarkably non-volatile since Trump was elected.

i cant tell if the market is resilient or just blindly exuberant and optimistic

Is it because rich white people have blind faith in the stock market since trumps arrival?