Anybody Buying Yet? Where’s the Bottom?
- Thread starter NEWHunter
- Start date
Wonder how the market will digest a government shut down?
Senate leans toward Dec. 16 stopgap funding bill - Roll Call
Navigating the evenly divided Senate to get 60 votes to advance the bill will likely require talks on pandemic funding and other issues.rollcall.com
You could get a few bumps for a week or two but overall, government funding shutdowns are a 100% Nothing Burger when it comes to the markets. It has very little effect on the economy, GDP and stock market. Makes good headlines though.
BigHornRam
Well-known member
It should be a nothing burger. The Democrats have a majority in the House and Senate, and run the Whitehouse. Not sure what the problem is. We will see if they can work it all out by the end of the month.
Manchin rails against 'revenge politics' on permit plan
Sen. Joe Manchin on Tuesday railed against what he called “revenge politics″ being used against him, as liberals in the House and Senate team up with Republicans to oppose his plan to speed permits for natural gas pipelines and other energy projects
BigHornRam
Well-known member
My money is on Joe getting rolled BTW.
More Than 80 Conservation Groups Urge Congress to Reject Mountain Valley Pipeline in Manchin Side Deal
Center for Biological Diversity: Pipeline Would ‘Press On the Gas’ on Wildlife Extinction
biologicaldiversity.org
noharleyyet
Well-known member
You think Manchin's humming Stealers Wheel?My money is on Joe getting rolled BTW.
More Than 80 Conservation Groups Urge Congress to Reject Mountain Valley Pipeline in Manchin Side Deal
Center for Biological Diversity: Pipeline Would ‘Press On the Gas’ on Wildlife Extinctionbiologicaldiversity.org
BigHornRam
Well-known member
I'm getting #@)(*%* from the left and #@)(*%* from the right.......what lane am in anyway?
rogerthat
Well-known member
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Roubini has been saying the same thing for a very long time. I hope he is right this time. I would like to see some of the excesses that have built over the last decade(accelerating rapidly in the last couple years) get flushed from the system. A true financial and economic cleansing…but I give that 1 in 100 chance of happening.Dr Doom's predictions are not overly optimistic.
Economist, who predicted 2008 crisis, warns of 'long, ugly' recession
Nouriel Roubini sees a long and ugly recession in the US and globally occurring at the end of 2022www.livemint.com
"Once the world is in recession, Roubini doesn’t expect fiscal stimulus remedies as governments with too much debt are “running out of fiscal bullets." High inflation would also mean that “if you do fiscal stimulus, you’re overheating the aggregate demand."
As a result, Roubini sees a stagflation like in the 1970s and massive debt distress as in the global financial crisis.
“It’s not going to be a short and shallow recession, it’s going to be severe, long and ugly," he said."
"During the 2008 crisis, households and banks took the hardest hits. This time around, he said corporations, and shadow banks, such as hedge funds, private equity and credit funds, “are going to implode""
noharleyyet
Well-known member
Looks like the sellers and dip buyers are neck and neck today.
SAJ-99
Well-known member
I am surprised by the number of people who are rooting for a significant decline. This would mean significant problems in the American economy, hurting millions of families. Have people just sat on cash for years and just want to be proven right in the doom and gloom forecast? I just don't understand.
I wouldn’t say I’m rooting for a decline, but I think we are long overdue for a correction. The longer it’s pushed off the worse it’s going to be. I would rather happen now than 10-12 years from now when I’m getting ready to retire.
I could be way off but I don’t see how we avoid it at this point.
I could be way off but I don’t see how we avoid it at this point.
D
Deleted member 18333
Guest
I think it has more to do with people thinking a crash may possibly right some wrongs that have been allowed to happen for the last two decades. I think many of us want to see Corporations, Financial Institutions, etc. pay a price. They feel a recession may do this. Just a guess. Also wouldn't help old Joey either. That's a big motivator.
D
Deleted member 28227
Guest
Love how inflation is because of a couple of checks... and not someone
putting their knee on the throat of the fed demanding ridiculous interest rates 4 years gunning for a ridiculous GDP growth rate... all in the name of votes and self aggrandizement. There were loads of economists saying the economy was too hot for 4 years... (not that you said that but it seems to be a common perception out there)Thank god old Joey just lets the adults finally make responsible decisions.
Anyway.
Not rooting for, but would like to see the correction happen sooner than later, hopefully it can be softened. Responsible, sustained growth would be my preference, and I think we need a correction for that to happen.
D
Deleted member 18333
Guest
Don't disagree with much of your post except this line.
If Powell is such a responsible adult under Biden, why was he so malleable under Trump?
Pretty sure I hit bottom in 07-09. Have not had a BUTT since.
My bottom is the streambed on my land that's free and clear now.
I could be richer and wordier...but Rio would never understand that conversation.
Carry on big boys.
My bottom is the streambed on my land that's free and clear now.
I could be richer and wordier...but Rio would never understand that conversation.
Carry on big boys.
D
Deleted member 28227
Guest
I think Truman had a saying about that...
SAJ-99
Well-known member
This is insane. Corporations aren't physical beings. They are legal structures. They have a lot of stakeholders like employees, suppliers, customers, and shareholders (including pension plans). The stakeholders are the ones who get hurt in a recession or if the company goes out of business.
This whole thing sounds like "I don't think the system is fair to me, so f-ing blow it up!". Hoping that the American economy can rise from the ashes like a Phoenix is a pretty wild plan to bet our future on.
Agree, but at some point we have to admit that we are a huge developed economy and that our growth fantasies are too aggressive. We need to stop listening to politicians tell us the other team sucks because growth was 2% not 4% if that 4% is just not realistic.
The market is not the economy, so maybe the market can correct without unemployment at 7%. I would like unemployment to be around 5% and steady, I'm just not sure how to ease that plane in for a smooth landing.
D
Deleted member 18333
Guest
Sounds very similar to the logic used to justify "too big to fail" bailouts. A lot of Americans have some sore butts over how that all worked out for the stakeholders vs. the leaders of those legal structures. Once again, just a guess.
D
Deleted member 28227
Guest
100% agree.
A bit of a non-sequitur but I think this is an incredibly important speech for folks to go back and read and to then keep in mind as we consider current events and our current political landscape.
Jimmy Carter - A Crisis of Confidence Speech - American Rhetoric
Full text and audio mp3 of Jimmy Carter's Address entitled "A Crisis of Confidence"
www.americanrhetoric.com
All that about history repeating itself...
SAJ-99
Well-known member
Some companies are too big to fail, it doesn't matter whether we like it or not. We let Lehman go and the market lost over 40% of its value over the next six months. Yeah, that really showed them. Even if Fuld was convicted of something and went to jail, it doesn't get employees jobs back. As for the rest, tax payers bailed out the other companies and got a decent financial return for doing it. Hell, we still own Fannie and Freddie and they churn out billions.
The funny part is, any reasonable person sitting at the table presented with the data regarding what would happen if they didn't bail them out would have signed off on it too.
D
Deleted member 18333
Guest
Punishment for wrong doing never does undo the wrong that took place. But it sure does make us feel better about it.
