EAllusion wrote:The markets seem to be swinging a lot while crashing, so I looked up a volatility measure to see where things are at and the volatility index I saw was just shattering records.
I haven’t looked at my 401k, which I now feel a small amount of pride about.
Unless you need that money right away, it’s best not to look. I made it a point not to look during past drops. Saved lots of stress.
“The ideal subject of totalitarian rule is not the convinced Nazi or the dedicated communist, but people for whom the distinction between fact and fiction, true and false, no longer exists.”
― Hannah Arendt, The Origins of Totalitarianism, 1951
"One of the hardest things for me to accept is the fact that Kevin Graham has blonde hair, blue eyes and an English last name. This ugly truth blows any arguments one might have for actual white supremacism out of the water. He's truly a disgrace." - Ajax
DOW futures just dropped another 11.2%. It is now at 20,836.
What in the ever living fuq is happening...
"One of the hardest things for me to accept is the fact that Kevin Graham has blonde hair, blue eyes and an English last name. This ugly truth blows any arguments one might have for actual white supremacism out of the water. He's truly a disgrace." - Ajax
Icarus wrote:DOW futures just dropped another 11.2%. It is now at 20,836.
What in the ever living fuq is happening...
Market makers are licking their chops. Plenty of regular people will panic and unload, algorithms will kick in with index fund sales and then prices are driven down substantially on everything, good stock or bad. When the dust settles and the market stabilizes, it’ll be like a fire sale for the folks who are sitting pretty with a stash of cash on hand. Those folks are not your neighbors. ; )
That single-digit sized upper income demographic is going to be a lot richer two years down the road. Joe Six Pack, with his 401k, not so much.
Uh oh..! Wag the Dog time. Military action here will bolster oil stocks.
U.S. defense officials said Thursday that an attack on a base in Iraq that killed two U.S. troops was carried out by Iranian-backed militia groups and that the military is waiting for President Trump to decide how to respond.
I'm not sure what the interest rate drops will do. People aren't going to work because money is tight. A lot of people are going to lose their jobs in the next few months, and a payroll tax cut isn't going to help them. And people who have jobs are going to be very cautious with their money. I don't think you're going to see people using a few extra dollars to fuel the economy.
I'm certainly not opposed to stimulating the economy. I just don't think a payroll tax cut is the right medicine.
"The great problem of any civilization is how to rejuvenate itself without rebarbarization." - Will Durant "We've kept more promises than we've even made" - Donald Trump "Of what meaning is the world without mind? The question cannot exist." - Edwin Land
MeDotOrg wrote:I'm not sure what the interest rate drops will do. People aren't going to work because money is tight. A lot of people are going to lose their jobs in the next few months, and a payroll tax cut isn't going to help them. And people who have jobs are going to be very cautious with their money. I don't think you're going to see people using a few extra dollars to fuel the economy.
I'm certainly not opposed to stimulating the economy. I just don't think a payroll tax cut is the right medicine.
You're seeing a fair amount of calls from economists for what amounts to a temporary UBI as a stimulus measure.
The Federal Reserve made an emergency interest rate cut to zero on Sunday, a dramatic step meant to make borrowing as cheap as possible for American households and businesses as the coronavirus brings the U.S. economy to a near standstill.
The benchmark U.S. interest rate is now in a range of 0 to 0.25 percent, down from a range of 1 to 1.25 percent. The cut effectively brings the nation’s interest rate to zero as President Trump has urged for months. The Fed also announced it is re-starting “quantitative easing," a central bank did in the aftermath of the Great Recession to try to get money flowing again in markets and the broader economy.
If the US economy is like the Star-ship Enterprise, this is like when Kirk Says "More Power!" and Scotty says "That's all she has, Captain!"
"The great problem of any civilization is how to rejuvenate itself without rebarbarization." - Will Durant "We've kept more promises than we've even made" - Donald Trump "Of what meaning is the world without mind? The question cannot exist." - Edwin Land
The Federal Reserve made an emergency interest rate cut to zero on Sunday, a dramatic step meant to make borrowing as cheap as possible for American households and businesses as the coronavirus brings the U.S. economy to a near standstill.
The benchmark U.S. interest rate is now in a range of 0 to 0.25 percent, down from a range of 1 to 1.25 percent. The cut effectively brings the nation’s interest rate to zero as President Trump has urged for months. The Fed also announced it is re-starting “quantitative easing," a central bank did in the aftermath of the Great Recession to try to get money flowing again in markets and the broader economy.
If the US economy is like the Star-ship Enterprise, this is like when Kirk Says "More Power!" and Scotty says "That's all she has, Captain!"
Seems like the initial response to this news is panic in the markets.
DOW futures down over 1000 but let's see tomorrow how it really responds.
"One of the hardest things for me to accept is the fact that Kevin Graham has blonde hair, blue eyes and an English last name. This ugly truth blows any arguments one might have for actual white supremacism out of the water. He's truly a disgrace." - Ajax
