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Thread: Dow closes above 35,000 for the first time. God Bless President Biden.

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    Quote Originally Posted by Hawkeye10 View Post
    As I have explained to you before I believe the Chinese are going to move the world off of the dollar, and at that point America is a deeply impoverished nation.
    The world isn't on the dollar.
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    Quote Originally Posted by Hawkeye10 View Post
    As I have explained to you before I believe the Chinese are going to move the world off of the dollar, and at that point America is a deeply impoverished nation.
    china ain't shit.

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    Quote Originally Posted by AssHatZombie View Post
    china ain't shit.
    They are kicking our asses.
    This illegal illegitimate regime that runs America is at fault...not me.... they do not represent me and I have long objected to their crimes against humanity.

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    Quote Originally Posted by Into the Night View Post
    The world isn't on the dollar.
    I understand that you think that, as you have said it before.

    You are wrong.
    This illegal illegitimate regime that runs America is at fault...not me.... they do not represent me and I have long objected to their crimes against humanity.

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    Quote Originally Posted by Jarod View Post
    I have a friend who did the same thing the day Obama was inaugurated, he missed out on a lot of gains.
    I would never be all in cash. If you think equities are too risky, you can find a blue-chip mutual fund that pays a dividend. With interest rates at Rock bottom, it's just silly to be in all cash. When return on fixed instruments sucks, go for dividends.
    I usually go between 80/20 stocks/fixed to 50/50 but depends on the individual, their risk-tolerance and cash flow.
    Republican Congressman Ken Buck:
    “We’re at a time in American politics, that I am not going to lie on behalf of my presidential candidate, on behalf of my party. And I’m very sad that others in my party have taken the position that, as long as we get the White House, it doesn’t really matter what we say,”



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    Jarod (07-23-2021), ThatOwlWoman (07-24-2021)

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    Quote Originally Posted by cawacko View Post
    What's your take on whether he should reappoint Powell or not?
    Eh, don't care. I guess it's best to have stability. Rates have nowhere to go but up. They can't be this low forever. Problem is, when rates go up, bond values and stocks typically go down. Biden doesn't want inflation so tapering must be done delicately.
    My buddy works at Fed Reserve and her likes him.
    Republican Congressman Ken Buck:
    “We’re at a time in American politics, that I am not going to lie on behalf of my presidential candidate, on behalf of my party. And I’m very sad that others in my party have taken the position that, as long as we get the White House, it doesn’t really matter what we say,”



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    Quote Originally Posted by Jarod View Post
    He did not acknowledge it happened.
    You know what's scary to think about? Were it not for the Coronavirus, Trump would probably still be President. His incompetence in handing the Coronavirus tipped the scales to the Dems. Then there was the injecting disinfectant comment..........
    Republican Congressman Ken Buck:
    “We’re at a time in American politics, that I am not going to lie on behalf of my presidential candidate, on behalf of my party. And I’m very sad that others in my party have taken the position that, as long as we get the White House, it doesn’t really matter what we say,”



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    Quote Originally Posted by Joe Capitalist View Post
    Eh, don't care. I guess it's best to have stability. Rates have nowhere to go but up. They can't be this low forever. Problem is, when rates go up, bond values and stocks typically go down. Biden doesn't want inflation so tapering must be done delicately.
    My buddy works at Fed Reserve and her likes him.
    There was a pretty good write up this week in the WSJ about it and the reasons he both would or would not reappoint him. One thing that jumped out at me was those who want him replaced want someone who will focus more on climate change. I’ll be honest, I have no idea what the Fed would do different regarding the climate even if it wanted too. Any idea yourself?

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    Quote Originally Posted by Micawber View Post
    Only Democratic party leadership can bring the Dow Jones average this high.
    Yeah, over the last 50 years, the Stock Market has performed better under Dem presidents. Of course, the far right will insist that's fake news.
    Republican Congressman Ken Buck:
    “We’re at a time in American politics, that I am not going to lie on behalf of my presidential candidate, on behalf of my party. And I’m very sad that others in my party have taken the position that, as long as we get the White House, it doesn’t really matter what we say,”



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    Quote Originally Posted by cawacko View Post
    There was a pretty good write up this week in the WSJ about it and the reasons he both would or would not reappoint him. One thing that jumped out at me was those who want him replaced want someone who will focus more on climate change. I’ll be honest, I have no idea what the Fed would do different regarding the climate even if it wanted too. Any idea yourself?
    Climate Change? That's a stretch. Let the Fed worry about the economy and let the scientists worry about Climate Change. I understand that CC is an issue that needs to be dealt with but let's not go overboard.
    Republican Congressman Ken Buck:
    “We’re at a time in American politics, that I am not going to lie on behalf of my presidential candidate, on behalf of my party. And I’m very sad that others in my party have taken the position that, as long as we get the White House, it doesn’t really matter what we say,”



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    Quote Originally Posted by Joe Capitalist View Post
    You know what's scary to think about? Were it not for the Coronavirus, Trump would probably still be President. His incompetence in handing the Coronavirus tipped the scales to the Dems. Then there was the injecting disinfectant comment..........
    I still think it was a good chance he was going to lose.
    4,487

    18 U.S. Code § 2071 - Concealment, removal, or mutilation generally
    44 U.S.C. 2202 - The United States shall reserve and retain complete ownership, possession, and control of Presidential records; and such records shall be administered in accordance with the provisions of this chapter.


    LOCK HIM UP!

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    Quote Originally Posted by Jarod View Post
    I still think it was a good chance he was going to lose.
    sad democrats weaponized the virus

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    Quote Originally Posted by Son of the Revolution View Post
    sad democrats weaponized the virus
    How so?
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    18 U.S. Code § 2071 - Concealment, removal, or mutilation generally
    44 U.S.C. 2202 - The United States shall reserve and retain complete ownership, possession, and control of Presidential records; and such records shall be administered in accordance with the provisions of this chapter.


    LOCK HIM UP!

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    Quote Originally Posted by Jarod View Post
    How so?
    He has no idea. He's just parroting the right wing sound bytes like a good minion.
    Republican Congressman Ken Buck:
    “We’re at a time in American politics, that I am not going to lie on behalf of my presidential candidate, on behalf of my party. And I’m very sad that others in my party have taken the position that, as long as we get the White House, it doesn’t really matter what we say,”



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    Quote Originally Posted by Joe Capitalist View Post
    It’s been a turbulent week on Wall Street, starting with a massive selloff over worries about the Delta variant. But by Friday, stocks were back up and each index closed at at record highs.

    The Dow closed 0.7%, or 238 points, higher, finishing above 35,000 for the first time ever. The S&P and the Nasdaq both climbed 1%.

    On Monday, the market was deep in the red and the Dow (INDU) recorded its worst day since last October. The S&P 500 (SPX) and the Nasdaq Composite (COMP) logged their worst performances since May.

    Investors, fearful that rising Covid-19 cases and the more infectious Delta variant would stifle the economic recovery, retreated from stocks and fled to the relative safety of government bonds.

    “Although the variant has punctured the ‘vaccine euphoria’ that was prevalent in the market several months ago, investors seem convinced that economies will continue to open up gradually despite the new variant,” said Marshall Gittler, head of investment research at BDSwiss Group, in a note to clients.

    A preliminary reading of IHS Markit’s July purchasing managers’ index showed manufacturing at a record high for the data series, beating economists’ expectations.


    Awesome.

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