Posted on 06/16/2022 5:57:43 AM PDT by Browns Ultra Fan
Like in the movie The Poseidon Adventure, we can all sing “The Morning After.”
On the heels of The Fed’s 75 basis point surge in the target rate, the US Treasury yield jumped +11.5 BPS as of 8:30 AM EST. The S&P 500 E-mini futures contract is down -1.8%.
As investors brace for a recession, mortgage rates dropped to 6.03%.
On the housing front, US housing starts plunged -14.4% MoM in May, the biggest decline under Biden.
While housing starts were down -14.4% MoM in May, single-family detached home were down only -9.16%. It was 5+ unit (multifamily) starts that were down -26.83% MoM.
Good morning peeps! Reality is dawning after the market surge yesterday after investors celebrated that The Fed could have raised rates even more.
(Excerpt) Read more at confoundedinterest.net ...
E-minis spiked 64 pts in 15 minutes at one point yesterday. Be careful out there if you are trading, folks.
All the left wing Wall Street supporters are getting what they paid for. Watch all these Rats scurry for the exits. The Biden presidency is over, the damage inflicted isn’t.
I credit team Obama. Obama gets to be lazy, keep his left wing glorious halo, all while calling all the shots via Susan Rice and others.
My employer, which has a large footprint in the manufacture of municipal and residential pipe, roofing, siding, and other construction materials has taken a 22% drop in our stock price in the past week. It used to be the part of my portfolio that was still making gains this year, but now all areas have seen 20-35% losses this year. So much for retiring at age 65. FJB.
Biden ain’t killing NOTHING and don’t give him credit for destroying the US. Biden nothing more then the patsy figure-head who isn’t even aware of who he is at this point
His puppet master(s), whomever they are, are the ones behind this and their are no fingerprints to be found anywhere.
A complete shadow government
Congress is the boss. The buck stops there.
> A complete shadow government <
Totally agree. I wonder if Biden even knows what he’s signing (seriously). Someone puts a piece of paper in front of him and says, “Sign this, Mr. President. It’s for the good of the country.” And so Joe signs it.
And then there’s the filtering of information. Does Biden even know what’s going on? Or do his handlers only tell him little bits and pieces?
An aggressive free press would be investigating this. But of course we no longer have such a thing.
But, but....it’s “ONLY TRANSITORY” so no worries.
Same losses but I’m retired.
Thankfully it is not all in this mess.
3 increases out of 11? If this is to happen each time when the financial types claim the increases are already “baked in” to the market will there be anything left to go down?
Think of the crash when they finally announce the recession that is already here.
I remember somebody on here saying the market did not represent the economy.
What codswalllop.
Dow...29996.
“But, but....it’s “ONLY TRANSITORY” so no worries.”
America was only transitory.
You nailed it. Biden is kept in a bubble and only fed information that his handlers want him to have. He is competely separated from reality.
But he had 3 mansions and gets his 10%.
Dow...29901.
President Brain-Dead Biden responded to criticism for the skyrocketing inflation under his administration by screaming “We are changing people’s lives,” though he did not explain how changing people’s lives by causing inflation was a good thing.
“I don’t want to hear any more of these lies about reckless spending,” Biden yelled during the AFL-CIO convention on Tuesday. “We’re changing people’s lives!”
Video at link. Obvious demented anger.
Biden is signing blank documents to be filled in later.
The federal funds rate is I believe a whopping 1.75%.
It’s a joke considering the price increases I’m paying.
May be time to start a pool.
This time next year, Dow 12,000.
PINO ‘s. President and First Lady in name only.
The cabal gamed this out years ago by selecting this fool to some day potentially give Obama a third term
They knew he was more controllable and the MSM would position him as moderate
Trump being elected spurned the need to bring this puppet back into the mix
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.