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Dow plunges 831 points as stocks suffer worst loss in eight months

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  • Dow plunges 831 points as stocks suffer worst loss in eight months

    Well, it is October...

    Dow plunges 831 points as stocks suffer worst loss in eight months

    https://www.bostonglobe.com/business...7VP/story.html

  • #2
    Might be some good buying opportunities coming up.

    Comment


    • #3
      Emerging stocks have been in a sell off for months. IMF taps slower global growth. Higher cost of borrowing. Elitist bankers back on the path of bashing workers pay packets also saying higher interest rates is healthy.

      Also is China behind the sell off?
      Last edited by primer; 10-10-2018, 04:39 PM.

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      • #4
        Freaking Obama.

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        • #5
          So the stock market goes up over the last few months and it's all about Trump (even though it's been going on for years now). Goes down, it's all Obama's fault because of some voodoo he worked just before leaving office or something. A little presidential punji-trap on the path to prosperity.

          Holy cognitive dissonance, Batman.

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          • #6
            Originally posted by budgie View Post
            So the stock market goes up over the last few months and it's all about Trump (even though it's been going on for years now). Goes down, it's all Obama's fault because of some voodoo he worked just before leaving office or something. A little presidential punji-trap on the path to prosperity.

            Holy cognitive dissonance, Batman.
            THe media needs to stop using scapegoats to explain the stock market to people and just explain it, like hey... 'this is why the world is fucked today... numbers people... look at the fucking numbers;'

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            • #7
              Originally posted by budgie View Post
              So the stock market goes up over the last few months and it's all about Trump (even though it's been going on for years now). Goes down, it's all Obama's fault because of some voodoo he worked just before leaving office or something. A little presidential punji-trap on the path to prosperity.

              Holy cognitive dissonance, Batman.
              Are people really saying this? I thought it was just a tongue-in-cheek poke at the right. I *did* find it unusual coming from Jonathan, however... lol.

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              • #8
                Meanwhile the Trump tariffs cost taxpayers more than Obamacare and two-thirds of the country have noticed no real pay increase after the massive tax cuts.

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                • #9
                  Originally posted by budgie View Post
                  So the stock market goes up over the last few months and it's all about Trump (even though it's been going on for years now). Goes down, it's all Obama's fault because of some voodoo he worked just before leaving office or something. A little presidential punji-trap on the path to prosperity.

                  Holy cognitive dissonance, Batman.
                  Whatever dude. Keep pretending Kenyan voodoo isn't some powerful shit. I can see my 401K Trump gainz drop in black and white.

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                  • #10
                    And historically, corporate tax cuts mostly result in share buy-backs, which is great for shareholders but does little for the rest of society, most of which isn’t well-off enough to have a stock portfolio.

                    There’s been noise about some American firms increasing wages and returning operations to US soil following these tax cuts, but I wonder what the overall stats are as to where those savings are mostly going. And if it’s worth the massive national debt increase that will occur.

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                    • #11
                      Its called the business cycle, and it never rises indefinitely.

                      So far this has been the longest bull market in history, so its due for a correction.

                      Stupid Trump took ownership of a market he called a bubble during a candidate. If it does go tits up, he will throw Powell under the bus and blame interest rate rises.

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                      • #12
                        Originally posted by Stonecutter View Post
                        ...which is great for shareholders but does little for the rest of society, most of which isn’t well-off enough to have a stock portfolio.
                        ....
                        Pretty sure most people in the US have a 401K of some kind which makes them (indirectly) shareholders.

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                        • #13
                          Originally posted by TheKiwi View Post

                          Pretty sure most people in the US have a 401K of some kind which makes them (indirectly) shareholders.

                          Good point, but that's just a retirement fund right? And how many Americans actually have a 401K? And does a 401K improve the life of the average Joe who's 30 years away from retirement in the meantime?


                          "While Trump argues that ordinary Americans benefit from the booming stock market “beyond your wildest dreams” through 401k retirement accounts, only about 52% of families owned stocks directly or indirectly, according to the Federal Reserve."

                          https://www.theguardian.com/business...enefit-wealthy

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                          • #14
                            If it means you have more money when you do retire then it definitely benefits you - especially thanks to the wonders of compound interest.

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                            • #15
                              That's our boy

                              CNN) — President Donald Trump blamed the Federal Reserve for Wednesday's 832-point stock dive.
                              "I think the Fed is making a mistake. They're so tight. I think the Fed has gone crazy," Trump told reporters on the tarmac in Pennsylvania.

                              Trump cheers on a stock market he once called a ‘big, fat, ugly bubble’
                              This stupidity has a chance of handing the white house to a batshit crazy socialist.

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