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2024-08-05 Economy
It's Likely Going to Be a Rough Day on Wall Street Today
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Posted by Besoeker 2024-08-05 03:21|| || Front Page|| [11134 views ]  Top

#1 Elon Musk says Fed 'foolish' for not cutting interest rates yet
Posted by Skidmark 2024-08-05 08:22||   2024-08-05 08:22|| Front Page Top

#2 Top economist issues dire warning about the US economy as he tears into the Fed
Posted by Skidmark 2024-08-05 08:24||   2024-08-05 08:24|| Front Page Top

#3 We are already in stagflation due to Biden's team and their incompetence. Now we are hell bent for a full recession.
Posted by DarthVader 2024-08-05 08:30||   2024-08-05 08:30|| Front Page Top

#4 NASDAQ futures off 5% as of now and other markets off not much less. That translates into about $4 Trillion loss in market cap.

As for the Federal Reserve, I have some sympathy for them. Biden's fiscal policy was so awful their job was impossible. In retrospect they should have tightened about a year before they did and then should have loosened about 3 months ago. But that is retrospect.
Posted by Lord Garth  2024-08-05 09:18||   2024-08-05 09:18|| Front Page Top

#5 Also FWIW, assuming the wipe out today is not quickly followed by a recovery, it will knock a couple of points off the numbers for the Democratic ticket. This is because the more the voters talk about the economy, the worse it is for the party in power.
Posted by Lord Garth  2024-08-05 09:58||   2024-08-05 09:58|| Front Page Top

#6 
Ammo will always be worth more than gold. ☺
Posted by NN2N1 2024-08-05 09:59||   2024-08-05 09:59|| Front Page Top

#7 Japan's Nikkei stock index down over 4,000 points, largest drop in its history
Posted by Deacon Blues 2024-08-05 10:23||   2024-08-05 10:23|| Front Page Top

#8 Alot of Directional and MWD hands stockpile gold and silver. One asked me if I wanted in on it and I said, "I'm stocking piling ammo, if you have ammo, you can get gold or silver or gas or anything else"
Posted by Silentbrick 2024-08-05 10:38||   2024-08-05 10:38|| Front Page Top

#9 You keep printing and spending money without back it all comes tumbling down. Not the Fed, not the Swamp is anyone saying gut spending.
Posted by Procopius2k 2024-08-05 10:59||   2024-08-05 10:59|| Front Page Top

#10 Everyone is getting hit
Posted by Mercutio 2024-08-05 11:28||   2024-08-05 11:28|| Front Page Top

#11 Some minor recovery during the day. Still a major wipe out of market cap, several $ Trillions counting the NASDAQ and NYSE.

Let's see what happens tomorrow.
Posted by Lord Garth  2024-08-05 16:40||   2024-08-05 16:40|| Front Page Top

#12 
Posted by badanov 2024-08-05 21:40||   2024-08-05 21:40|| Front Page Top

23:16 Pancho Poodle8452
21:59 Frank G
21:56 trailing wife
21:40 badanov
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20:14 SteveS
19:52 Lord Garth
19:49 IS
19:48 Crusader
19:36 ed in texas
19:35 Squinty+Hatfield8204
19:34 ed in texas
19:30 ed in texas
19:25 Silentbrick
19:04 Frank G
19:03 Pancho Poodle8452
18:51 Bobby
18:45 Elmaper+McGurque1612
18:43 Skidmark
18:41 Zhang Fei
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