The Ongoing New Financial Era Thread

psu_dad
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Re: The Ongoing New Financial Era Thread

Postby psu_dad » Tue Nov 20, 2018 11:33 am

What's interesting is that this drop was pretty much all due to overnight trading. The stock market doesn't officially open until 9:30, but the opening DJIA reflects overnight trading. The DJIA opened 400 points lower than it closed yesterday afternoon.
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Blue&White
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Re: The Ongoing New Financial Era Thread

Postby Blue&White » Tue Nov 20, 2018 11:46 am

Image
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psu_dad
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Re: The Ongoing New Financial Era Thread

Postby psu_dad » Tue Nov 20, 2018 12:03 pm

Everything about the financial industry is fascinating to me. I've been a tech geek all my life, not a financial wizard. I probably knew more than the average shmoe, but I was no Warren Buffet, But delving into it as I have for the last decade or so is like studying an alien culture. And much if it, unfortunately, does not put capitalism in a good light. Not the concept of capitalism, but the current implementation wherein people who produce squat have such enormous power and control over what happens.

Still beats the snot out of any alternative though, except maybe a dictatorship run by me.
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Blue&White
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Re: The Ongoing New Financial Era Thread

Postby Blue&White » Tue Nov 20, 2018 12:59 pm

You can't think of any better alterntive, short of a dictatorship, to a system that protects malfeasance, insiders and allows front-running the market and then bails out the people who take criminally stupid risks (in some instances with tax payer money)? Really?

I could come up with a better system than our psuedo-capitalistic market system in about 5 minutes. Probably less.
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psu_dad
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Re: The Ongoing New Financial Era Thread

Postby psu_dad » Tue Nov 20, 2018 1:27 pm

I didn't suggest a dictatorship. I suggested a dictatorship run by me.
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psu_dad
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Re: The Ongoing New Financial Era Thread

Postby psu_dad » Wed Nov 21, 2018 7:08 am

The European markets are solidly in the green this morning, as are the Dow futures here. Hopefully, the bloodletting is over. For now.
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Blue&White
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Re: The Ongoing New Financial Era Thread

Postby Blue&White » Wed Nov 21, 2018 10:51 am

Well, it's in the green. It's not really getting back to where it was but it's in the green. Still early, though.
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Blue&White
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Re: The Ongoing New Financial Era Thread

Postby Blue&White » Mon Nov 26, 2018 11:42 am

The good news is that the market is up.

The bad news is that GM announced massive layoffs - 15% of its salaried employees. You can bet a lot of union workers are going to feel that pinch, too. They can't shut down that much business and not start marching out guys on the production lines. This is after Ford announced massive layoffs directly due to increased production costs.

It's a good thing trade wars are easy to win. Otherwise we may be in trouble.
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psu_dad
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Re: The Ongoing New Financial Era Thread

Postby psu_dad » Mon Nov 26, 2018 12:16 pm

Hold on a minute.

I read an article on nbc.com just 5 months ago that said GM was going gangbusters and that their stock was going to double in the next 2 years. Are you saying someone just pulled that prediction out of their bum?
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Blue&White
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Re: The Ongoing New Financial Era Thread

Postby Blue&White » Mon Nov 26, 2018 12:18 pm

Their stock may double in the next 2 years. But, with a lot fewer workers.
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