DOW Down 900 Points

[Matt12191982]

Bidenomics = Reagonomics -- the top 1% control everything.

 

[Buffalogurl]

https://www.dw.com/en/japans-nikkei-sees-biggest-tumble-since-1987-crash/a-69857520
Oops..... first Japan then Germany then America .....

 

[Buffalogurl]

https://www.dailymail.co.uk/yourmon...apan-united-states-nasdaq-recession-fear.html
What? No? Say it ain't so joe......

 

[AlexBailey]

I don't hate America, The bones of generations of my forbearers are in the dirt. I hate our foreign and domestic enemies who are doing their level best to destroy our country.

Yeah? I’m a large part Native American, so love it or give it back.

You are a propagandist. I’ve proven it several times over. You cast doubts and disparage the elected government of the US fuckin’ A in hopes of turning things to your profitable interests. You do it through dishonesty and deception. You are the enemy within.

 

[AlexBailey]

Perspective is a good thing.

 

[jomar]

she's lowering the bar for minorities everywhere. a low ceiling should feel like home.

lol, trump has set the bar so low y’all love a tween shouting insults and meanie “nicknames” instead of serious policy. Y’all are distracted by the entertaining trump retribution sleight of hand and grievance flash and sizzle.

 

[RobDownSouth]

https://www.dw.com/en/japans-nikkei-sees-biggest-tumble-since-1987-crash/a-69857520
Oops..... first Japan then Germany then America .....

Japan's national bank has made a bad situation worse in America.

• The Bank of Japan has had it's interest rate at essentially 0.0% since about 2016 (used to be DEFLATIONARY, which is actually worse than inflationary).
• Well, big US hedge funds borrowed "interest free" Japanese currency cheaply (US$-to-Yen currency conversion rates really favored the USA) and converted them to American dollars. They then leveraged their basically "free" money to prop up American stocks.
• But the slide of the yen against US$ was so great that the Bank of Japan raised their interest rate to about 1 percent.
• The rise in Japanese interest rates did EXACTLY what it was supposed to do: It caused the yen to strengthen against the US$. All of a sudden the "free" Japanese money was costing a premium to covert both ways.
• The sudden Japanese interest rate cost PLUS the strengthened yen-against-dollar means market traders selling Japanese currency back into dollars are losing a lot of money now. The American assets they are holding may not be enough to repay all the yen they have borrowed.
• Traders are yelling "Sell, Mortimer, SELL!" (obscure?) Traders need to "unwind their yen positions" immediately to avoid facing the ultimate bogey man: THE MARGIN CALL.

This is why Wall Street has been dumping stock for two straight sessions. Expect more short term losses until fiscal quarter end.

 

[Lazaran]

Japan's national bank has made a bad situation worse in America.

• The Bank of Japan has had it's interest rate at essentially 0.0% since about 2016 (used to be DEFLATIONARY, which is actually worse than inflationary).
• Well, big US hedge funds borrowed "interest free" Japanese currency cheaply (US$-to-Yen currency conversion rates really favored the USA) and converted them to American dollars. They then leveraged their basically "free" money to prop up American stocks.
• But the slide of the yen against US$ was so great that the Bank of Japan raised their interest rate to about 1 percent.
• The rise in Japanese interest rates did EXACTLY what it was supposed to do: It caused the yen to strengthen against the US$. All of a sudden the "free" Japanese money was costing a premium to covert both ways.
• The sudden Japanese interest rate cost PLUS the strengthened yen-against-dollar means market traders selling Japanese currency back into dollars are losing a lot of money now. The American assets they are holding may not be enough to repay all the yen they have borrowed.
• Traders are yelling "Sell, Mortimer, SELL!" (obscure?) Traders need to "unwind their yen positions" immediately to avoid facing the ultimate bogey man: THE MARGIN CALL.

This is why Wall Street has been dumping stock for two straight sessions. Expect more short term losses until fiscal quarter end.

Paired with the Fed inexplicably not preemptively cutting interest rates when everyone knew this day was coming, and it makes one wonder…



Interesting that this is occurring in the run up to an election where the financial sector definitely favors Trump, and a financial downturn would undoubtedly damage Kamala Harris who has assumed incumbent status.



This latest "crisis" is associated with greedflation, Putin’s war in Ukraine, China’s global belligerence, Netanyahu’s prolonging / expansion of the Gaza war, manipulation of oil markets, etc, to create a global climate of fear and chaos that favors corporations and authoritarians:

It’s just another crisis manufactured by the REAL global "elites" to hurt Kamala Harris and Democrats, and to help corporations and the authoritarian Trump and the MAGAt "republicans".



Side note:

The REAL global "elites" know, if democracy and the push for shared prosperity, social justice, and climate change mitigation, etc, falls in America, then it’s game over.



JFC

SAD!!!

 

[RobDownSouth]

Paired with the Fed inexplicably not preemptively cutting interest rates when everyone knew this day was coming, and it makes one wonder…

Wall Street is very reactive in the short term.
"Everybody knew" the Fed would cut interest rates and when they did not, Wall Street needed a source of cheap money to continue nibbling on the margins.

This led to massive overbuying of cheap Japanese Yen.

And we see what has resulted two months later.

So, yeah, basically a self-inflicted wound. Wall Street can rebound from one unexpected government action but two seems to have paralyzed them.

....Not to mention most Wall Street traders take the entire month of August off (kids don't go back to school until after labor day, they go to their summer homes in the Hamptons.

"Dammit, Billy Joel is not touring this summer so he's racing all up and down the Island day and night...."

 

[Lazaran]

Wall Street is very reactive in the short term.
"Everybody knew" the Fed would cut interest rates and when they did not, Wall Street needed a source of cheap money to continue nibbling on the margins.

This led to massive overbuying of cheap Japanese Yen.

And we see what has resulted two months later.

So, yeah, basically a self-inflicted wound. Wall Street can rebound from one unexpected government action but two seems to have paralyzed them.

....Not to mention most Wall Street traders take the entire month of August off (kids don't go back to school until after labor day, they go to their summer homes in the Hamptons.

"Dammit, Billy Joel is not touring this summer so he's racing all up and down the Island day and night...."

I have little doubt there are shenanigans being conducted by the corporate, financial, and global elites to harm Kamala Harris’ election chances (and Joe Biden’s before her).

I read a good summary of the Fed’s inexplicable inaction on cutting interest rates recently:

To paraphrase - “The Fed seems determined to snatch defeat from the jaws of victory” when it comes to avoiding a recession.

“NUFF SAID!!!”



JFC

SAD!!!

 

[DeluxAuto]

Nearly $2 Trillion Wiped Out from Stock Market as Fears of Global Recession Spark Panic Among Investors — Warren Buffett Dumped Nearly Half of Apple Stake and Holds $277 Billion in Cash Reserve​

by Jim Hᴏft Aug. 5, 2024 11:00 am

The first Monday in August has arrived with panic sweeping through the finance sector, as nearly $2 trillion was wiped out of the S&P 500 at market open. Investor anxiety over a looming global recession triggered a selloff that sent U.S. stock futures plummeting and raised urgent questions about the Biden’s administration’s economic policies.

As trading began on August 5th, a staggering $1.93 trillion was wiped out from the S&P 500, with stock index futures taking a massive hit. S&P 500 futures fell more than 4.4%, while Dow futures were down 3%, translating to a loss of 1,212 points. The Nasdaq 100 futures fared even worse, plummeting over 5.2%, according to Watcher.guru.

In a striking move, investor Warren Buffett’s Berkshire Hathaway dumped nearly half of its gigantic Apple stake last quarter, according to CNBC.

Buffett’s recent actions have raised eyebrows across Wall Street; the 93-year-old investment titan has been on a massive selling spree, offloading over 75 billion** in equities during the second quarter alone. This aggressive liquidation has raised Berkshire’s cash reserves to an unprecedented **277 billion, an all-time high for the conglomerate. Notably, Buffett also began selling his second-largest holding, Bank of America, in July.

More here:https://www.thegatewaypundit.com/2024/08/economic-crisis-looms-2-trillion-wiped-stock-market/

Bidenomics at work.

You're a desperate little creature.

 

[DeluxAuto]

Has Reichguide or any of the other economic dumbs here figured out to explain with facts why every Dem President has to rescue the US from a Republican-led recession since Reagan?

 

[RobDownSouth]

I have little doubt there are shenanigans being conducted by the corporate, financial, and global elites to harm Kamala Harris’ election chances (and Joe Biden’s before her).

I read a good summary of the Fed’s inexplicable inaction on cutting interest rates recently:

To paraphrase - “The Fed seems determined to snatch defeat from the jaws of victory” when it comes to avoiding a recession.

“NUFF SAID!!!”



JFC

SAD!!!

I wonder if we'll ever get the truth behind the election year "no rate cut" decision.

On one side, you have people saying "President Biden has been blamed repeatedly for inflation in the past two years, keep the prime rate where it is and inflation drops dramatically by October, just in time for the election! And those vultures on Wall Street will take a bath!"

On the other side, you see people saying "Cut the prime rate now, this will inflate housing prices with cheap mortgage money which Wall Street can profit immensely from and the opposition can blame President Biden for the spike in home prices, just in time for the election".

Each argument has some measure of truthiness, not sure what the hell actually happened.

 

[Mike302]

I have little doubt there are shenanigans being conducted by the corporate, financial, and global elites to harm Kamala Harris’ election chances (and Joe Biden’s before her).

I read a good summary of the Fed’s inexplicable inaction on cutting interest rates recently:

To paraphrase - “The Fed seems determined to snatch defeat from the jaws of victory” when it comes to avoiding a recession.

“NUFF SAID!!!”



JFC

SAD!!!

Wait...you don't realize the corporate, financial, global elites, and establishment Dem and Rep leadership, ARE the ones backing K. Harris as their own official spokeswoman / tool?!

My goodness!

 

[Lazaran]

I wonder if we'll ever get the truth behind the election year "no rate cut" decision.

On one side, you have people saying "President Biden has been blamed repeatedly for inflation in the past two years, keep the prime rate where it is and inflation drops dramatically by October, just in time for the election! And those vultures on Wall Street will take a bath!"

On the other side, you see people saying "Cut the prime rate now, this will inflate housing prices with cheap mortgage money which Wall Street can profit immensely from and the opposition can blame President Biden for the spike in home prices, just in time for the election".

Each argument has some measure of truthiness, not sure what the hell actually happened.

I see no scenario where the Fed’s failure to cut interest rates could be interpreted or construed as some clandestine effort to help the Democratic incumbent candidate.

The Fed’s failure to cut interest rates was a loser for Democrats all the way around - and it wasn’t justified by the condition of the U.S. economy, as inflation and private sector hiring had fallen precipitously at the time. (The real pain being felt by consumers, renters, and home buyers also justified a rate cut.)

The Fed has a lot of financial pain and political interference to answer for right now, imho.

 

[IrezumiKiss]

https://twitter.com/x/status/1820647154056090028

 

[JoePepsiCo]

I can see the framing now, "The Trump Crash."

On the upside, now we can have the "Miracle" Harris economic bounce after her Veep choice...



Choose wisely!

 

[AlexBailey]

Nearly $2 Trillion Wiped Out from Stock Market as Fears of Global Recession Spark Panic Among Investors — Warren Buffett Dumped Nearly Half of Apple Stake and Holds $277 Billion in Cash Reserve​

by Jim Hᴏft Aug. 5, 2024 11:00 am

The first Monday in August has arrived with panic sweeping through the finance sector, as nearly $2 trillion was wiped out of the S&P 500 at market open. Investor anxiety over a looming global recession triggered a selloff that sent U.S. stock futures plummeting and raised urgent questions about the Biden’s administration’s economic policies.

As trading began on August 5th, a staggering $1.93 trillion was wiped out from the S&P 500, with stock index futures taking a massive hit. S&P 500 futures fell more than 4.4%, while Dow futures were down 3%, translating to a loss of 1,212 points. The Nasdaq 100 futures fared even worse, plummeting over 5.2%, according to Watcher.guru.

In a striking move, investor Warren Buffett’s Berkshire Hathaway dumped nearly half of its gigantic Apple stake last quarter, according to CNBC.

Buffett’s recent actions have raised eyebrows across Wall Street; the 93-year-old investment titan has been on a massive selling spree, offloading over 75 billion** in equities during the second quarter alone. This aggressive liquidation has raised Berkshire’s cash reserves to an unprecedented **277 billion, an all-time high for the conglomerate. Notably, Buffett also began selling his second-largest holding, Bank of America, in July.

More here:https://www.thegatewaypundit.com/2024/08/economic-crisis-looms-2-trillion-wiped-stock-market/

Bidenomics at work.

More @Rightguide hating on America.

In addition to the biased bashing of the USA in the link the Anti-American shill posted:

“…Yet, the report notes that the “sell-off phase doesn’t have to last long,” and could preside for just a few days, according to MarketWatch.”


The most dire doom and gloom predicted by the anti-US Rightguide is not reflected in the source info he posted - again.

 

[AlexBailey]

Hey @Rightguide, be honest and tell us why you’re rooting for the US economy to crash before November.


Why would that be good for your interests?

 

[RobDownSouth]

Hey @Rightguide, be honest and tell us why you’re rooting for the US economy to crash before November.


Why would that be good for your interests?

You have to understand, @Rightguide has a long documented history of rooting for the US economy to do poorly whenever a Democrat is in the White House.

The economy doesn't affect him personally at all, he's got his Medicare and Social Security, the world can go to hell for all he cares.

 

[astuffedshirt_perv]

Dang it, the early august stock sale is over already.

 

[Rightguide]

Yeah? I’m a large part Native American, so love it or give it back.

You are a propagandist. I’ve proven it several times over. You cast doubts and disparage the elected government of the US fuckin’ A in hopes of turning things to your profitable interests. You do it through dishonesty and deception. You are the enemy within.

The only thing you've proven is your complete and total misunderstanding of the political reality in the United States. Your problem is being hopelessly trapped within the progressive reverberation chamber, It's there that you find solace and solidarity, but at the cost of a broader, more nuanced understanding of the world outside. You live in a space where the voices of reason and alternative viewpoints are but a distant murmur, barely penetrating that fortress of certitude that separates you from reality.

 

[ll74]

 

[Rightguide]

Goes for you as well, clown.

 

[ll74]

Goes for you as well, clown.

Lol ...it doesn't matter who Democrats pick. You say the same shit about every single candidate.

Histrionic boy