Posted on 12/15/2022 10:21:23 AM PST by Hojczyk
U.S. stocks tumbled Thursday as Wall Street reeled from another sizable rate hike by Federal Reserve officials and assessed similar moves by monetary policymakers across the Atlantic. A disappointing reading on consumer spending also weighed on sentiment.
The European Central Bank and the Bank of England followed the U.S. Fed in raising interest rates by 50 basis points Thursday morning. The BoE's hike brought rates in the country to their highest since 2008.
Dow Jones Industrial Average (^DJI) DJI - DJI Real Time Price. Currency in USD Follow
33,025.93-940.42 (-2.77%) As of 01:20PM EST. Market open.
(Excerpt) Read more at finance.yahoo.com ...
Burn baby burn!
Wasn’t this interest rate increase expected?
I have reached a point where unless I absolutely need something, I’m not buying it. No sale.
No other way to combat this Democrat/Communist sponsored economic dumpster fire.
More than just hiking rates. Retail sales down, even with Black Friday, and the regional Fed indices got clobbered.
Freepers that wanted higher interest rates and to crash the economy so the could get cheap sh!t are going to get what they wished for. Enjoy supporting your unemployed offspring.......
Half the country looks at this dumpster-fire economy and says, “It’s all good. More of the same, please, Democrats.”
Don’t forget with Biden’s new digital dollar they don’t have to print money just use a number pad and add trillions in a second , D’oh
Fed needs 5% unemployment at least, to bring down inflation. Much higher to finish off such levels.
Manufacturing and industrial production way down, record consumer debt, credit cards maxed out, more rate hikes coming, millions invading our country through the wide open borders, threat of widening war in Ukraine, demented president, McConnell caving to Schumer, etc etc etc
Maybe democrats are bankrupting the country for China’s payoffs... Maybe we’re just starting to understand none of the bad stuff the past two years was an accident.
I’ve been in that mode since Covid became a thing.
Consumer spending is down.
Yes, it was, and of this size too. But Powell’s comments indicated that he is far from done, and that he is going to have to see results before he takes his foot off the gas. We know, or some of us do, that fed actions take a year or 18 months to really Infuse into the economy. There was some degree of hope that he would back off raising rates as a result of slightly improving inflation numbers. But at 7% inflation, down from 8% inflation, he has a hell of a long way to go to get to a 2% inflation target. So the market reads this as he’s far from done.
To State it differently, it was not the numerical rate hike that shocked the market, it was the color of his commentary. He is really pretty good at whacking the market, it must be said.
To state it differently-differently, until yesterday it was generally accepted that the first half of 23 would be weakish, and then maybe the second half would improve. I think he smacked that piece of optimism down fairly decisively.
If you invested in an S&P 500 index fund the day Brandon entered the WH, congratulations. You have a whopping total 2% ROI for the past 23 months.
Me too … the only stuff we buy are the substance to keep us alive and car gas. The only item we skip over when we go grocery shopping are eggs. They’re almost 4 dollars a dozen. Outrageous! With the globalists Schwab, bezo and the rest of the great reset demons they are hellbent on sabotaging farms by getting peta and the environmental wackos to burn down chicken and beef farms. They want to starve us to death…I don’t think we’ll see eggs under a $1.00 ever again.
Big recent chatter surge from lots of sources. I suggest Clive Thompson, for one. I just viewed the one below. CDBC is imminent. Reflected in PM spot prices, DOW volatility, crypto crashing. What a merry time! CDBC will be aligned with a financial reset to possibly do many things - make the $31T in debt go poof, along with the $90T is total debt. Phase out of the petro dollar. Will it be replaced by new fiat (CDBC) or a new PM-backed currency?
All from Biden’s spending and insane minimum wage increases by democrats.
The last time minimum wage was increased W was in his first term as President
It seems that most economic indicators are starting to align and provide a negative outlook, employment and GDP not included. As for GDP, it’s being propped up by massive government spending. November’s deficit was a quarter trillion dollars. To be honest, I don’t trust the BLS employment figures. This government has zero credibility. ADP unemployment stats for November were abysmal, with 100k manufacturing jobs lost. That’s the type of figure that has forward meaning. I’m still waiting for Dow 26k. There’s a ton of optimistic morons buying lately. I guarantee that most of the are getting their asses handed to them since they think they can pick highs and lows. Very few can do that in the short-term. I certainly can’t.
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.