Posted on 06/13/2022 1:29:43 PM PDT by Browns Ultra Fan
Not nibbling on baby formula, watching gasoline prices soar. Wasting away again in Biden/Powellville.
It was closing hell for a terrible day in markets as investors struggle to process the dreadful and seemingly endless inflation report on Friday.
What happened today? The NASDAQ tanked -4.58% and the 10-year Treasury yield jumped 22.2 basis points. Gulp.
The 22.2 bps jump in the 10-year Treasury yield has led to Agency MBS prices pulling a Titanic and sank.
Somehow, I don’t think that Biden and Congress are going to help the middle class and low-wage workers.
(Excerpt) Read more at confoundedinterest.net ...
“Crypto crashed.”
Some thought it would be like digital gold and would weather the crash, it was more like a digital tulip and will continue its downward spiral along with the market. Precious metals will probably dip a bit too, but then will take off once the crash is through. There’s nothing like the real thing.
I’m afraid we are China.
Yeah I checked on gold miner prices today.
I had seen a video yesterday saying they were set to rally based on chart technicals.
That would be a NO.
Down > 4% today.
This one’s been a long time coming, and might be one for the record books when all is said and done.
I find it interesting that inflation is “souring”, yet gold and silver are also collapsing, as are crypto currencies. So, where is all the money going?
I guess they’ll just keep shorting the metals with paper until there is no supply
LOL
That’s my take on this as well. When things get really bad, we go back to formula.
I am open to suggestions on what to do with 100k in cash.
Before it takes that much to buy a loaf of bread.
Silver got wacked even harder. I’ve been watching silver closely and plan on increasing my position. I guess it could drop a lot further and if I’m investing in it no doubt it will.
Good time to buy in the am on an OGRE (opening gap reversal)
Under 30k is considered by some market watchers as a psychological tripping point for investors (at least those short term investors), meaning when it does look out below!
Crypto is a man-constructed reality, a subjective reality.
What is happening throughout our economy and our society…our world really…is objective reality rearing it’s head. We’ve created fakery…fake made-up reality…in every aspect of the life of men. As Ayn Rand said: “ You can avoid reality, but you cannot avoid the consequences of avoiding reality.”
We’ve been doing this in the West and particularly in America for a very long time now. True, objective reality is now imposing its will and we will pay the price.
Yep, this is merely a cloud burst.
The Dow is going under 30k a lot faster than I thought it would. I was thinking by Labor Day. Hell, it might not make it until July 4th.
Under 30k is considered by some market watchers as a psychological tripping point for investors (at least those short term investors), meaning when it does look out below!
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I think that’s right. There are lots of folks out there who set 30,000 as the benchmark which if it slides that far, they are parking their money. That is why the trendline looks like it has an increasingly steeper negative slope to it. At that point, all bets are off when the herd stampedes for the gate at the same time.
She’s a lot things...a lady ain’t one of them.
And it’s not just Crypto itself, the Crypto exchanges are in big trouble, with their unstable “Stablecoins”, and the Celsius exchange today not allowing people to withdraw their money. In a few months I expect most if not all of them to go belly up. I feel sorry for anyone who keep their crypto on the exchanges.
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