Posted on 06/10/2024 11:31:30 AM PDT by ChicagoConservative27
IMHO they’re waiting for Trump to take over so they can crash it then.
“Congress and housing speculators crashed the economy.”
Forcing mortgage companies to lend money to those (ghetto) types who are almost certain to default destroyed the mortgage sector in 2007.
Not all mortgage companies are huge conglomerates. One of my clients in 2007 was a mom-n-pop mortgage company who did business in about a dozen states (so they weren’t THAT small) and they got hit hard. They hung in there for another couple of years and then went belly up.
The stock market in 2008 hung in there too for many months and then crashed hard 2 months before the election and just kept crashing.
*Politicians* helped crash the economy in 2007-08; *manipulators* helped crash the market in 2008. The puppetmasters didn’t bother in 2016 because nobody seriously considered Trump a threat to win; they didn’t bother in 2020 because they had already invented COVID to take care of Trump’s chances.
They just might bother in 2024.
“IMHO they’re waiting for Trump to take over so they can crash it then.”
That’s logical, but the part about allowing Trump to be elected isn’t in their playbook.
They fear Trump too much to risk having him in the White House, just to get a little satisfaction from having the media blame him for every single thing that goes wrong in the world from that point forward.
They already do that.
I listened to economists over the last few years saying the market would crash, and pulled a lot of money out of the stock and bond markets and placed it in cash positions. But... no crash. I would have made a lot more money than I did. But at least I have safety in having a large cash position.
Now the predictions from economists are getting alarming. First I was hearing mid-2025, then early 2025, and so on, then August 2024, and now they say July 2024 the market will crash bigly. I guess I will be selling off some stocks this month!
> Stocks percentage = 100 - age. <
I should have added that the equation is certainly not for everyone. In my working career I was lucky enough to put a bit aside. I’ll get by okay. So I don’t have reason to swing for the fences now that I’m retired. I’m in a prevent defense.
(How’s that for mixing sports metaphors?)
Bidenomics at its worst. Keep on believing in better times and prosperity. Vote Brandon and defraud the country of its fuiure.
“Forcing mortgage companies to lend money to those (ghetto) types who are almost certain to default destroyed the mortgage sector in 2007.”
That is the fable. The truth is that they fraudulently packaged high risk loans in bundles, sold them as grade A, and gambled against them with derivatives. Bankers greed was the driving force and they were allowed to keep the profits, avoid prosecution, and socialize the losses.
But they love that story of the working poor causing the crash.
A review of the 2008 recession found that the Feds had contingency plans that had contingency plans for the economy that never saw the light of day because things didn't get as bad as was planned for. They will keep this disaster going for many, many years to come.
Maybe so, but I have learned that the most reliable contrarian indicator you could ever hope for, is me taking a long position on any stock.
As soon as I go all in on the SP 500....then you KNOW its time to run for the hills.
increased taxes + increased interest rates + decreased rate of growth of money supply + credit crunch = recession
>>>but I have learned that the most reliable contrarian indicator you could ever hope for...
contrarian indicator = Mr Booyah himself, Jimmy Cramer(what’s not to like).
The Trump tax cuts expire in 2025 so expect a big selloff prior to that.
MMT and Quantitative “Easing”.
It’s easy to say there will be a major crash. They happen every decade or two. Predict the date or at least the month.
USGOV/Fed Reserve still has a lot of wiggle room for now but in 10 or so years with Medicare Part A and SS issues, managing the interest will get more difficult.
The MMT doomsday cult are shinning brightly staying "wealthy" off of term deposits, liquidity swaps, expired policy tools, and other counterfeit means now, but there will be a time when the "music" will end for good.
But they love that story of the working poor causing the crash.
****************
The story was nonsense, but nonsense Free Republic liked very much because ghetto trash tanking the housing market fits a world view around here.
The new one, produced by Goldman Sachs, is immigrants are jacking up the prices in the real estate market.
So I decided to study historical immigration waves and found no such correlation with the real estate market in the past.
I dread the taxes in the coming years. Selling off some stocks along with my RMD withdrawal is going to be bad with taxes. But will be worse once the Trump tax cuts expire, so you put a silver lining on selling now.
Yeah, I think this video here pretty much put Kramer in for the greatest of all time contrarian indicator
https://m.youtube.com/shorts/ELg2KzSKIG4
He said this on September 19, 2022. Literally a week later NVDA stopped its downward trend then began an upper to accent gaining 652% in the next year and a half Overtaking Apple, and becoming the second largest stock by market cap in the world. This is literally a week after Kramer said this about nvda
Harry Dent has been predicting doom and gloom for decades ... sooner or later (if he lives long enough) he’ll be right ...
Man, that was a hoot to look at, funny too “Jim Cramer explains Why he Shorted #invida”. Jimmy was always a Blowhard! Jimmy was very popular on Yahoo Chat & very protective of his TheStreetDotCom. I do believe his nic then was Crème de La Creme. I still have this book on Cramer, “Trading With the Enemy: Seduction and Betrayal on Jim Cramer’s Wall Street.
Thanks for the memories.
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