Posted on 09/23/2022 1:16:15 PM PDT by ChicagoConservative27
Wall Street’s massive selloff on Friday plunged the Dow into a bear market as investors appear resigned to the fact that the Fed has abandoned hopes for a “soft landing” and will continue to aggressively raise interest rates to fight inflation — even if it means a deeper recession.
The Dow Jones Industrial Average fell more than 700 points, while the S&P 500 dropped nearly 100, shedding 2.65% from its pre-market starting point.
The tech-dominated Nasdaq Composite plunged more than 300 points, or 2.75%.
The Dow is now 20% off its all-time high — which would officially place it in bear market territory.
“The current numbers are certainly scary,” Brad McMillan, chief investment officer for Waltham, Mass.-based Commonwealth Financial Network, told The Post. “And there is, in truth, a lot to worry about.”
(Excerpt) Read more at nypost.com ...
Deeper Recession? I thought Joey Crappy Pants and his Circus Clowns said WE WERE NOT IN RECESSION.
So the Market tanking is good news? They must have changed the DEFINITION of Recession again.
Seems like the big crashes usually happen in autumn.
Today is the first day of autumn, it started last night at 8:03.
It is far deeper than what they think. Small electronics parts we were getting for $ 1.00 are now over $100.00. Unbelievable. Supply chain broken.
We are being governed by the "Math is hard" people.
It’s dead Jim
I’m a doctor not an economist
My retirement accounts are pretty conservative, and well-diversified. Even at that, they have taken a beating under Biden.
Really think this is just getting ramped up. Haven’t seen a mass of credit defaults, it has to be coming. Then the job losses, then even Brandon will have to admit it’s a recession.
“The Biden Plan is working.”
- Joe Biden
Good news is the democrats always cause good investment opportunities.
I’m about to start buying both in the stock market and in the real estate market. Just waiting for a few more benchmark numbers.
I am lucky, in one sense, that I am not engaged in too many knick knack projects at the present time, but I am absolutely astounded at some of the price Rises that I have seen just on little parts and pieces that you need for electrical or Plumbing projects. I can’t say I’ve seen the dollar Parts go to 100, but most pieces of miscellaneous hardware have just about tripled.
I remember a faux headline from the 1980s during a big downturn in the stock market:
Charmin Paper touched new bottoms today. Thousands have been wiped clean.
I have a quantity of scarce processors that I hoarded a while ago. Mostly ARM and ARM SOCs
I have had calls inquiring if I would be willing to sell some back, at a nice profit.
I still have them all, all are out of stock everywhere with delivery dates well into 23...
If Taiwan gets hit, Boy Howdy!
scary? How stupid.
Well that's an easy fix, just change the definition of Bear market
Up to now they have talked about the upcoming recession.
No one has dared to mention the word “depression” yet like in “the Great Depression”.
Election theft has long lasting and dire consequences especially when nothing is done about it.
I am planning to move most of the HVAC duct work into the conditioned space using pipe chases. I had thought about using PVC Drain Waste and Vent pipe, 8”. A single T fitting is over $500. That is simply insane.
I’ll figure out another way.
A recession is necessary. I planned on it and also xiden’s mess so I don’t think I have to sell anything for at least four years from the start of this year and perhaps one more. I keep telling myself that trying to say I planned for this mess and that it will pass as have others. The great depression ended in most countries long before it did here because of roosevelt’s continuous spending. Sound familiar?
Some say this is irregular and I tend to agree. In the past most recessions are about 3 years or less from high to trough to return. I don’t figure this a V-bottom event, not with this bunch of clowns in office, not with the money supply so high so fast, not with the money velocity so very very low, not with the demographics we have or the world has. I wish it were not so of course.
Housing and land prices have got to come down, they went too far. I could not even afford the taxes on the place I own at today’s prices. I’m grateful for the 3% limitation here. The place I’ve wanted to buy that joins me, forget it. I have plenty to take care of already with land I have not set foot on in years.
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