The Ongoing New Financial Era Thread

Blue&White
Posts: 3237
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Re: The Ongoing New Financial Era Thread

Postby Blue&White » Mon Dec 17, 2018 12:54 pm

The market started to get better and then it, too, jumped into a local quarry. Down over 250 again.
Is it baseball season yet?

Blue&White
Posts: 3237
Joined: Sat Aug 12, 2017 10:01 am

Re: The Ongoing New Financial Era Thread

Postby Blue&White » Mon Dec 17, 2018 3:29 pm

Lost over 500 points so far. Jeez.

In other news: Corporate America gives out a record $1 trillion in stock buybacks

There's a surprise. Totally a shock. I, for one, thought the tax cuts for corporations would result in higher wages and we would all benefit. Huh? Who saw that coming? I mean aside from everyone prior to the bill being past.
Is it baseball season yet?

psu_dad
Posts: 1912
Joined: Sun Aug 13, 2017 6:59 pm

Re: The Ongoing New Financial Era Thread

Postby psu_dad » Mon Dec 17, 2018 6:44 pm

Lost over 500 points so far. Jeez.

Down 4.56% for the year. I suspect any chance of breaking even for the year just waved bye-bye.
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psu_dad
Posts: 1912
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Re: The Ongoing New Financial Era Thread

Postby psu_dad » Wed Dec 19, 2018 10:31 am

Image


There was a disturbing article in the WSJ that indicated the price of cakes, cupcakes and cookies is on the rise. There was also a reference in the article to new Oreo cookies that are dipped in white/milk chocolate fudge, which is a whole new level of depravity.

Mrs psu_dad: What do you care? Your son said you can't eat that crap.
Me: I care about other people.
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psu_dad
Posts: 1912
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Re: The Ongoing New Financial Era Thread

Postby psu_dad » Wed Dec 19, 2018 2:50 pm

Someone needs to explain to me why, after keeping interest rates low for 10 years, it became necessary for the Fed to raise them 17,000 times in one year.
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Blue&White
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Re: The Ongoing New Financial Era Thread

Postby Blue&White » Wed Dec 19, 2018 5:16 pm

What's funny about this was this was extremely predictable. Trump nominated and put in a guy who had been on the record as saying the believe interest rates needed to start coming up and, if given the opportunity, that's exactly what he was going to do. It's not like he sandbagged Trump on this. But, when Trump nominated him what he focused on was not Powell's views on markets, on money policy, on interest rates, etc. No, what Trump focused on was all the nice things Powell had to say about Trump. I'm not making that up. It's documented and I believe I posted a story about it once before, probably in this thread.

And now Trump is freaking out saying that Powell is killing the markets and all this economic growth (which, to be honest, I'm dubious about anyway). Well, what did you think? Maybe - and this is just a guess on my part - hiring people based on the way they suck up to you instead of looking into their views on policy and their qualifiications for the job is not the best way to go.
Is it baseball season yet?

psu_dad
Posts: 1912
Joined: Sun Aug 13, 2017 6:59 pm

Re: The Ongoing New Financial Era Thread

Postby psu_dad » Wed Dec 19, 2018 5:52 pm

Dude. Seriously. No one gets a job like that without a lifetime of kissing the right butts. And he didn't make this decision. He's just paid to read it. He's not an economist. He has a BS in Political Science and a JD. Besides, I came here to get away from politics.

How is the coup d'état going?
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Blue&White
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Re: The Ongoing New Financial Era Thread

Postby Blue&White » Wed Dec 19, 2018 6:26 pm

There are plenty of butt kissers who have the same policy views that any one politician has, though. He hired someone who does not. But, fair enough on the politics.

Anyway, tomorrow is another day. let's see if we can get below 23,000 tomorrow. I like our chances.
Is it baseball season yet?

psu_dad
Posts: 1912
Joined: Sun Aug 13, 2017 6:59 pm

Re: The Ongoing New Financial Era Thread

Postby psu_dad » Wed Dec 19, 2018 6:31 pm

We'll be below 23000 by mid-morning.
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PittGradPSUMad
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Re: The Ongoing New Financial Era Thread

Postby PittGradPSUMad » Wed Dec 19, 2018 10:06 pm

Dow-schmow.....I'm not worried. My gargantuan tax refund will more than make up for any losses.
Yeah, well, that's like your opinion, man.