Rolling US Economy Into The Shitbin Thread

I have traced the decrease in competition to increasing barriers to entry and weak antitrust enforcement, sustained by heavy lobbying and campaign contributions

Anyone who disbelieves this or thinks it is controversial has not been paying attention. It's all happened out in the open, for everyone to see.

Very interesting article. The big internet companies get most of the attention but seems like concentration is happening across the economy and some of the more harmful cases are in old economy industries.

cf Matt Stoller who has a very good newsletter

otm xp. e.g. aside from healthcare access and insurance, *competition* in healthcare is non-existent and/or corrupt.

How many times are we gonna do this https://t.co/FSIUowOLm4

— Alex Burns (@alexburnsNYT) November 20, 2019

Buy low, sell high!

love to know how many of his buddies hedged this last loss on his new claim that the China "deal" will come after nov 2020

I could escape this feeling, with my China deal
I feel a wreck without my, little China deal

we have always been at trade war with China

The latest U.S. jobs report was strong. So strong, @Neil_Irwin writes, that it shows there's still a lot that experts don't know — and can get wrong — about the U.S. economy. https://t.co/GOhrZrxW6X

— The New York Times (@nytimes) December 6, 2019

For months there were warnings of recession, if not worse. Then the inverted yield curve. But eventually I started seeing year-end wrap ups noting the recession fears have faded, unemployment remains low, economy chugging along, yield curve if I read correctly un-inverted.

But like clockwork, I just saw my first "economists warn..." article from the ass-end of this year, practically next year. Apparently we're due a stock market crash. The Big One. So look alive, and get ready to sell low so that rich people can sweep in and buy it all up cheap.

fed's been pumping the financial system with a shitload of liquidity iirc

if you keep predicting a recession it'll inevitably come true but it's not a v impressive feat

a stock market crash ≠ recession fwiw

A stock market crash can destroy a hell of a lot of liquidity and paper assets in a very short time. To the degree that those assets were incorporated into the financial structure of the real economy, it can crash the real economy, too.

Dow off 603 today; a virus is doing what 3 years of Trump couldn't.

Persuade traders to do some profit-taking?

Maybe not the worst time to take some money off the table, what with this being the longest economic expansion in US history, the yield curve inverting (again), and earnings being kind of lackluster or late.

*of* late

Selloff seems to have been short lived. Everything's peachy!

I think people are going to start to remember how many supply chains have an important link in China. I don’t think we’re out of the woods yet.

those would be down now for the New Year anyhow. but I think everyone remembers.

I think people are going to start to remember how many supply chains have an important link in China. I don’t think we’re out of the woods yet.

― o. nate, Tuesday, February 4, 2020 9:51 PM (two weeks ago) bookmarkflaglink

DING DING DING!!!!!

1000 points, wow! this is all adam schiff's and nancy pelosi's fault though

i hate that the dow being above 25k, even 20k seems like it should be the norm.

If we get another bounce, I'm strongly considering moving more to cash. I think things have looking increasingly rough for a number of reasons.

Well, the biggest red flag is the What Goes Up, Must Go Down principle. But it is as ever a guessing game, and the trend has been Up for long enough and through enough now that I'm not sure what would seriously trend it down long term. Which is to say, keep an eye for a bounce tomorrow or the next day, which is how things have been going for a while now.

I mean, it reminds me of what my econ guy friend observed when several months/years back there was a big dip in I think Facebook stock. Yeah, the company lost hundreds of millions in value ... but it was valued at hundreds of *billions*, which means losing hundreds of millions isn't as bad as it looks. Likewise a hyper-inflated stock market. Though we'll see where this leads, right?

faceobok had a really bad ipo debut.

Yeah, exactly. Too big to fail, etc. Beginning in July 2013, FB stock value went up 600%. Then plummeted/corrected in 2018. But hit a record high last month. Until things trend down and stay down, who knows what the heck to expect, and by the time that happens, if it happens, it's really too late to fix.

For a long time, it felt like the case for a correction was based on the fact that we'd been in a bull market for too long and not much more than that. At this point, I think the negatives are starting to accumulate.

Yeah, you'd think. But this is after the dreaded inverted yield curve came ... and reversed itself. But now it's inverted again, right? So who knows. How is Campbell's soup doing?

Campbell's is up!

Zoom is up. Good hedge against coronavirus.

lol

i'm not joking!

https://www.marketwatch.com/story/zoom-video-stock-surges-as-coronavirus-fears-deepen-2020-02-24

no, I completely believe you, it's just a lot to handle

maybe we need to cut more taxes?

That bounce was shortlived...

I'm waiting to see a headline that says "Dow falls on stock market worries."

Maybe if Trump taxed the Coronavirus we'd all come out ahead.

https://pbs.twimg.com/media/ERpPll4WkAEu362?format=jpg&name=small

nah the bounce is coming tomorrow i'm sure of it

Man, this is such a classic dumb money story. Buy stocks on the premise that no one will go outside again once the coronavirus spreads.

brb buying stock in food delivery services

brb buying stock in driverless car food delivery services

i figure the wood in my woodpile’s going to at least triple in value due to all the coffins that are going to need building

Shows what you know ditch digging is the new market inefficiency *touches forehead thoughtfully*

https://thumbs.dreamstime.com/z/robot-shovel-8198374.jpg

brb buying stock in food delivery services

― mh, Tuesday, February 25, 2020 5:46 PM (two hours ago) bookmarkflaglink

So what happens when food service workers--who are paid as little as the market will bear and don't even dream of benefits--go to work even though they're coming down with a cold?