The Ongoing New Financial Era Thread

sameoldlama
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Re: The Ongoing New Financial Era Thread

Postby sameoldlama » Thu Feb 08, 2018 1:05 pm

Given Philly and Charlotte are major hubs for American that really makes no sense. I've flown out of Allentown with stops in one of those two cities and paid much less than $800 for ticket.
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Blue&White
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Re: The Ongoing New Financial Era Thread

Postby Blue&White » Thu Feb 08, 2018 1:26 pm

It's insane and it's been trending upward for a while. I am in Charlotte frequently and when the pricing started to hit $600 they started making noise about making me go to Newark. At $800, I'm not even asking a question about it.
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psu_dad
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Re: The Ongoing New Financial Era Thread

Postby psu_dad » Thu Feb 08, 2018 4:20 pm

Jeezus H. Krist on a Popsicle Stick. The DJIA got crushed again today. That's nearly a 10% drop in a week.

Image
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Blue&White
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Re: The Ongoing New Financial Era Thread

Postby Blue&White » Thu Feb 08, 2018 6:51 pm

If you turn the machines back on, it may get worse!
Alex Cora sucks. Mickey Callaway sucks. Baseball sucks. Everything and everyone just sucks. Is it football season yet?

Nat@PSU
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Re: The Ongoing New Financial Era Thread

Postby Nat@PSU » Fri Feb 09, 2018 5:47 am

President Jackass has gone strangely quiet on the stock market. Perhaps he is learning that the stock market is a double edged sword: if you claim the gains, you own the losses.
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PittGradPSUMad
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Re: The Ongoing New Financial Era Thread

Postby PittGradPSUMad » Fri Feb 09, 2018 7:27 am

Not quite.....donito trumpolini and asshat hannity have identified the root of the problem....Obama.
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Blue&White
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Re: The Ongoing New Financial Era Thread

Postby Blue&White » Fri Feb 09, 2018 9:09 am

Nat@PSU wrote:President Jackass has gone strangely quiet on the stock market. Perhaps he is learning that the stock market is a double edged sword: if you claim the gains, you own the losses.


I said that the other day. There is a reason that past President's have not taken credit for market gains - it's because then you won the inevitable downturns. The market giveth, and the market taketh away. And, Trump and his "look where the market is thanks to my policies" now owns this fiasco even though he has little to do with it.
Alex Cora sucks. Mickey Callaway sucks. Baseball sucks. Everything and everyone just sucks. Is it football season yet?

psu_dad
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Re: The Ongoing New Financial Era Thread

Postby psu_dad » Fri Feb 09, 2018 10:15 am

It hasn't reached "fiasco" stage yet. A correction of the ridiculous growth of the DJIA over the last 12 months was inevitable at some point. If it does't stop soon, that's another matter.

In the Olden Days, people looking for a safe return on their money could just buy CDs or Money Market certificates and be content with their 4% return. But because of Uncle Sam keeping interests rates low, those investments now pay squat. Equities are the only thing paying a decent return and the DJIA has benefited from that. But every time Uncle Sam even hints at raising interest rates, the stock market goes icky-balooky.

Weaning the economy off these artificially low interest rates is not going to be easy (or painless).
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Blue&White
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Re: The Ongoing New Financial Era Thread

Postby Blue&White » Fri Feb 09, 2018 11:00 am

Nope. And, it rates are trending upward slightly. The bond market isn't doing great either.

The other fun thing going on is the US is not the only country trying to lower the valuation of their currency. China has devalued the Yuan recently. I saw Germany said something about pushing down the Euro. If the currency markets become a race to the bottom, you're going to see a lot of instability and serious inflation. Team Trump seems to think they can take an isolationist economic and financial view of the world and everyone else will just fall into line for us. But, the evidence is building that is not going to happen.

dad - you keep saying that President Bumbles hasn't done anything that can't be fixed. I think that's datable, but here is an opportunity for him to do real, lasting damage. The future is impossible to predict, but some of these economic policies can have some lasting impacts. The positions his administration is taking on trade, currency, deficits, etc. All of this will have a longer term impact. We'll see what happens, but a policy that leads to inflation and drives up the cost of imports when we don't manufacture much is going to wipe out any wage increases we may see. Oil is traded in US dollars and devaluing the dollar could have some significant impacts on oil prices. All of this comes as a trade off. We've had relative global stability for a few decades. But, big global economic crunches - and I'm not suggesting we have one yet, but we can - have a way of causing instability.

We'll see. This may all be fine, but I don't feel like we've got a team of people at the top who know what they are doing or have thought all this stuff out. Of course, in the past when we did have people who seemed to know what they are doing and did think it all out we've still had financial meltdowns.
Alex Cora sucks. Mickey Callaway sucks. Baseball sucks. Everything and everyone just sucks. Is it football season yet?

psu_dad
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Re: The Ongoing New Financial Era Thread

Postby psu_dad » Fri Feb 09, 2018 11:03 am

OK. Just change the contents of my last post to "Trump is a douchebag." And I'll try to do better next time.
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