Sure bigoted against the poor aren't you? There but for fortune, go you or I.
Worst single day dow drop ever :)
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Sure bigoted against the poor aren't you? There but for fortune, go you or I.
USFREEDOM911
MAKE AMERICA GREAT AGAIN
it's funny, but this reply of yours speaks volumes about what a loser you are, but you are such a loser, you had no idea.
does loser seem harsh? It probably it, but what else should we call it?
people that aren't barely getting by are impacted by market collapses. We are forced into a system based on debt. To beat the system that is based on debt, you can't just open a savings account, they pay less then inflation.
So you invest.
only a loser would suggest that if you aren't living paycheck to paycheck, you are rich.
What's you're describing is called economics. Go back to bartering if you want to end the grip of the capitalists
Sirthinksalot
Verified User
Certainly a basement dwelling, pimple popping troll.
Micawber argues the Christian God is allegedly omniscient and omnipotent, and if he exists he will know a fraudulent Christian is gaming out his test and so as punishment will send him into the worst hellfire of all.
Govern you actions accordingly.
Faith may or may not be blind, but I guarantee there is no scriptural support that it is allowed to be fake.
Wow, we are all so pleased to hear a perfect person like you, with your professed millions, sit in moral judgment of the poor. How did you become so awesome and sinless? It's really fascinating. Tell us your up from the bootstraps tale, MK?
I agree completely. Degrading people makes you awesome. You are awesonme aren't you, Sailor? It's inspirational for we the flawed. Tell us more.
Airstrip One
Completely Effed
The Asian market also tanked. Hong Kong down 1000, Nikkei (Japan) down over 1150, and Shanghai was down as well (it's presently open for another 5 hours and down 50).
crowonapost
Verified User
The market is always a changing medium. Technology has taken over in a massive way. It was a huge brief drop but it reset just as fast. That is a massive factor. Assigning it anything to the current POTUS is tangential. It is not significant. What is significant is the fact that we live in an unstable governmental environment. One too focused on superficial reactive politics and not enough in shared ideas of stability. For example, the idea of 'welfare' Chip or whatever it's called in ones particular state is only for the purpose of creating economic stability in response to the inherent instability of markets. For profit corporations and the stock market are not the end all, be all of economic systems. They are a tool of the mercantile society. The other important component is governmental systems. We have been indoctrinated for too long that the inherent instability of capitalist markets are the only form of 'truthful' stability. What we have been experiencing, sigh.. yet again is that capitalism is NEVER about stability. It's THRIVES on instability. The role of government is to add stability to the market. And in principle what we seem to have to learn over and over is that the best form of government is built from local democracy. Not bought and paid for democracy beholden to constructed corporate interests. A local democracy that sees new systems of economic understanding and creates dynamic checks and balances for a changing world built from the people that are apart of the represented government as apposed to the pull of economic rules that strive to profit from economic and governmental ignorance.
Neither Trump or Obama represent that, we do. Either in our ignorance or intelligence about or shared governance and economics. They are intertwined.
Neither Trump or Obama represent that, we do. Either in our ignorance or intelligence about or shared governance and economics. They are intertwined.
USFREEDOM911
MAKE AMERICA GREAT AGAIN
3 Reasons Why The Dow Jones Industrial Average Dropped 500 Points
Global stocks sold off Friday, with the Dow Jones Industrial Average plummeting more than 500 points -- its ninth-biggest point drop ever -- to lose 1,000 points for the week. U.S. stocks closed sharply lower following volatile trading in Asia and Europe after China revealed new evidence of a sharper-than-expected economic slowdown. The losses sent the blue-chip index into correction territory for the first time since 2011.
Here are three reasons why.
1. China
China gets most of the blame for Friday’s global stock sell-off. The world’s second-largest economy posted factory production numbers Friday that suggest a faster economic slowdown than previously thought. Chinese factory production in August shrank at its fastest rate in more than six years, sparking concerns that China’s deceleration will have global effects.
Peter Cardillo, chief market economist at Rockwell Global Capital, estimates the Chinese economy will grow at an annual rate of 6.5 percent this year. That’s much lower than the country’s 2014 GDP growth rate of 7.4 percent, which marked its slowest annual pace in 24 years.
“If China’s economy does slow to 6.5 percent this year, that could be considered a mild recession for them,” Cardillo said.
Even before Friday’s rout, global stocks were jittery. Earlier this month, China unexpectedly devalued the yuan. At the same time, its benchmark Shanghai Composite has lost around 30 percent of its value from its peak in mid-June. The losses in China raised concerns over whether the Chinese government’s rescue efforts are capable of restoring market confidence.
“We’ve known that global growth has been slowing for a while, but when China started devaluing its currency and setting off a wave across other emerging markets, it made investors more nervous. Because they have to do something, problems must be worse than they thought,” said Karyn Cavanaugh, senior vice president and senior market strategist at Voya Investment Management.
2. Federal Reserve
Although most economists still expect that the U.S. central bank will raise interest rates as early as September, an increasing number now say it's possible the Fed is rethinking its plan. Even before China has devalued its currency, the U.S. Federal Reserve was questioning its stance on an interest rate increase planned for sometime later in 2015.
After Friday's rout in the global stock markets, the Fed may wait until after September to lift rates. Minutes from the central bank’s July meeting, released earlier this week, indicate conditions for the first rate increase in about a decade had not been met, due primarily to muted price increases. U.S. inflation has run below the Federal Reserve’s 2 percent target for 38 straight months.
And then there’s China.
“The global demand story, which is supported by the Chinese demand story, just isn’t there right now,” says Stephen Guilfoyle, managing director of NYSE floor operations at Deep Value Inc. “If the Fed doesn’t raise rates, it could signal the economy is truly weaker than everyone previously expected.”
3. Commodities
A deeper concern for investors is how China’s growth rate affects demand for global commodities. China is the world’s largest commodity consumer. But with Chinese factory production now at a six-and-a-half-year low, commodity-producing nations fear China’s demand for raw materials is waning.
“Brazil and Russia are in the midst of a very deep recession,” said Bill Adams, senior international economist at PNC Financial Services Group. “There’s a strong argument that China’s weakness, as well as weakness to other commodity-focused emerging markets is due to low global prices and weak global demand for what they export.”
The S&P GSCI, a benchmark for commodity-markets investments, has dropped more than 40 percent in the last 12 months. U.S. oil prices dropped below $40 a barrel Friday for the first time since the global economic crisis.
I can see I struck a nerve with you again Packd. There is a reason you as a supposed lawyer still rely on your aging parent for financial support. There is no "moral judgement" here idiot, just facts. People like yourself spend money foolishly on material things you neither need nor can really afford instead. Nor do you put any away. Folks like you are a problem in this country. You expect others to bail you out. Here is a hint for idiots like you, live within your means. And, just for you, being in debt up to your asshole is not being wealthy.
Wow, that's amazing. Without any way to know anything you just stated, you managed to be 100% wrong about every personal fact. What are the odds of that? Like 100?
We are all still waiting to hear your story, Mr Bootstraps living within his means, abstemious hero.
Kudos to Trump for blowing all the gains of 2018 in a single day. Well done, fat orange hog
You are a childish jerk. Most people live paycheck to paycheck as anyone with firing neurons can discern from seeing who owns stocks. You are a baby. The stock market is a tool for the wealthy.
irresponsible people live paycheck to paycheck.
when you are young and dumb, you might have an excuse, but too many people in their 30's and higher still live beyond their means and don't properly plan for the future
in this country, all the rules benefit us at the expense of foreign nations. If you are in this country struggling to make ends meet, you are a retard or a loser.
So go right ahead and denigrate the non-losers that don't live paycheck to paycheck. We are just glad we aren't pathetic like you are.
I am right on every one of those personal facts. You lamented about them in your usual liberal whining on this board and at DCJ. Are you going to deny you bought to much house also and are upside down on the mortgage?
Pipe down fender head. You are broke because you are irresponsible with monies and expect everyone else to make up for that.
Yep, I'm going to, idiot. Never said I bought too much house, never happened. I am not upside down on the mortgage . False again. Supported by my parents? Where the fuck do you get that? False again.
Go away, morwron.
You're gong to need to get annoysious to come in here and lie for you. Get crackin.
Cancel 2018.1
New member
So the fact that 401k's and many smaller people would be hurt by this makes you happy? That's pretty sick, bro.
Wow. Do you always lie to yourself to make yourself feel better? Is that how you cope instead of offing yourself? I suppose next you are going to lamely attempt that you have not identified yourself as a lawyer also right? Billing out $ 300 an hour? How about the pride in your family owning slaves at one point? Going to try and deny that also? Seems like you are either having mini strokes or just your typical shit or go blind moments.