Rolling US Economy Into The Shitbin Thread

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?

the invisible hand will cause them to be driven to work harder for a better job with benefits, while job creators will see their immune systems strengthened by their patriotism

we're back, thank god, I was so worried for number

"One of the more obscure stats to take note of is the S&P 500 closed down more than 2.5% for consecutive sessions while above its 200-day moving average for the first time since 1938."

https://www.marketcrumbs.com/post/stocks-extend-their-decline-as-reality-begins-to-set-in

My biggest financial fear is that the long predicted Trump economic collapse happens now, years after idiot's supporters have decided he could do no wrong and after several incidents more or less affirming that. The ride or die GOP will lead us to our doom.

Isn't that good since it assumes he won't get re-elected

my biggest fear is that my retirement account loses 5-6% over the span of two days due to forces i can't really control or fully understand, and then it bounces up about 1% due to temporary optimism about unknowable forces, and then i have to make a decision about whether to put all the money in bonds until the storm passes, but then lose on the potential bounceback, or keep it all in stocks and lose another 5-10% of my retirement savings

this is so much better than having a pension!!!!!!!!

Karl: do nothing.

Literally don’t even look at it.

generally if you're letting some company manage it, and they have "retirement: target 2045" or whatever types of options, just do that

then do nothing

i have done nothing, and i will continue to do nothing. but goddammit

Vanguard Target Retirement 2055 is my mom

but if the stock market even exists by the time i'm old enough to retire, it will represent a collective failure of the human race. time to rename this planet and move it to the "experiments" folder

ah, retirement... can't wait for that gold watch

thank you for your years of hard work, morbs. here is a rare watch
https://i.imgur.com/ajWHGp4.jpg

beware, it isn't Y2K compatible

lol i carry around one v much like that except the band is gone, so i just keep the nub in my pocket

Morbs that’s the cutest fact about you you’ve ever disclosed

i gave a watch like that to my mom for her birthday when i was little. she gave it back to me for my birthday the following year

my 401k is literally the only asset I have thats more than a couple thousand dollars. future's lookin mighty bright. =|

same

it almost balances out my student loan debt. if the neverending exponential growth on a finite planet can continue for another 20-30 years or so, i might even achieve a positive NET WORTH value! at that point i will no longer be a "worthless" human being

and that's why i'm voting republican straight-ticket until i have worth, to show my committment

We have a good friend whose husband, we just found out, is a Trump supporter, based strictly on the performance of his 401k.

Isn't that good since it assumes he won't get re-elected

I have no idea, but I can easily imagine these morons backing him again *despite* an economic downturn, because "only he can fix it" or whatever bullshit they want to spout. Better dead than red, iirc.