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Dow dives 500 points as stocks close near 2018 lows

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A159
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« on: December 17, 2018, 05:05:11 pm »

I mentioned over a week ago that rumor had it that the market may crash right before Xmas. Apparently, it's thinking about that.



https://www.msn.com/en-us/money/markets/stocks-tumble-on-fear-fed-rate-hikes-are-going-too-far/ar-BBR3rSH?OCID=ansmsnnews11
Thomas Franck 1 hr ago


Stocks sank Monday, pushing the S&P 500 to its lowest level of the year as investors grew increasingly worried that the Federal Reserve's plan to raise interest rates could be too much for the economy and stock market to handle.

The S&P 500 fell as much as 2.5 percent to 2,530, surpassing its February low of 2,532. The Dow lost more than 500 points, bringing its two-day losses to more than 900 points. Shares of Amazon and Goldman Sachs led the declines.

The Dow and S&P 500, which are both in corrections, are on track for their worst December performance since the Great Depression in 1931, down 7 percent so far for the month. The S&P 500 is now down more than 4 percent for the year.

The Cboe Volatility Index, one of Wall Street's favorite gauges of market fear, hit 23.79, its highest level since Dec. 10 and volume for the stock market was heavier than usual. The tech-heavy Nasdaq Composite dropped 2.5 percent as Microsoft dropped nearly 3.6 percent. The Russell 2000 — which tracks the performance of smaller companies — entered a bear market, down 20 percent from its 52-week high.
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« Reply #1 on: December 18, 2018, 12:34:01 pm »

But ....... but ....... but ....... isn't this the greatest economy in American history?  I'm sure that's what our glorious leader Grin  Grin  Grin told the entire world, just recently.  And, there's no blaming Obama for it, now --- Trump took full credit for the state of the economy, just a week or so, ago.

But, not to worry.  In really short order, he'll slam the doors of government offices, which will end the hemorrhaging -- at least, until there's an agreement to reopen, at which time they always agree to compensate the government employees for wages lost, during the shutdown (as they should).

I'm just afraid there's no way to stop the damage the idiot-in-chief is able to do, at least until Republicans in congress grow the gonads to put an end to it.  Either pass legislation limiting him, or remove him from office, one or the other has to be done in order to even think about starting the country on the way to recovery.  The longer he's allowed to go on, the longer it's going to take, to reverse the damage.  We're already looking at decades, perhaps, to put the economy back in order, not to mention regaining our position and influence - and friends - in world affairs.

My biggest concern, is that the fanatics that put this total disaster in office, are still out there, and still voting - and still don't see the damage he's done.  And, if they do see it, they're too proud and "macho" to admit how wrong they were.  I remember asking people why they voted for Dubya Bush - the second time.  The most common answer I got?  "Because I'm sick of being told how stupid I was, to vote for him the first time."  Nothing like removing any doubt about it, huh?
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« Reply #2 on: December 20, 2018, 09:43:04 am »

It makes one shudder as we watch all of this 'Trump crap' unfold right before our eyes. It was bad enough to suffer the consequences of trump's tax cuts for the ultra rich, but now ….. we're heading straight into a recession. It's also been printed in the news this morning that the Trump Admin is now cutting back on the SNAP program. Another words, all who are struggling in their own world of poverty, will now struggle harder. I'm really getting a sense of the old Repub war cry yrs ago ….. "hurry up and die". As many won't be able to afford healthcare, the expense of medical needs that keep rising will finish off  Americans before their time. That is, if starvation doesn't kill them first.


Speaking of Goober Bush, cg, I still remember always saying how what BushCo was doing in real time would take decades to recoup from. Now, as you stated, TrumpCo has added more decades of impossible recovery to his sh*t list. Our economy is truly heading into the crapper, while the ultr rich lick their lips in anticipation of wiping out our lower class that they have created and eventually owning it all with their ruling class. It wasn't that difficult to see during the BushCo yrs. It's clear as a bell that after Trump is shot down by the end of his term, we'll struggle to survive. Even with good news that a different leader will take the place of Trump, that leader will fight a very step and slippery hill to climb since the depression yrs. I can't even imagine what conditions our younger generations will face as time marches on yr by yr. All I know that common sense says …… they're future is truly f*cked! So, as we experience the 2020 elections in gleeful hope, just wait until 2024. I absolutely have no clue how most anyone below the upper 30% of money grabbers will be surviving by then. I know it won't be pretty at all!
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« Reply #3 on: December 21, 2018, 12:20:40 pm »

The possible scenarios for the near future - 2020 and 2024 - are many and varied.  Most of them have something in common, however --- most of them aren't what we would describe as rosy and bright.  The "deplorables" will still be around.  In a perverse manner, they've become proud to wear the label.  Stupidity is, again, considered a desirable trait, among many.  They're proud to prove that they can be stupid, if they want to, and nobody can stop them.  It's kinda a macho thing, I guess.

It isn't the lower class that the ultra-rich hope to wipe out -- it's the middle class.  They need the lower classes, to do the work for them.  To be their peons, their proles.  If one wants to see what kind of world they envision, one only has to open a history book, and turn to the sections on the middle ages.  The feudal system.

Also often referred to as The Dark Ages -- for good reason.

During this period, the world (the western world, anyway) was divided into fiefdoms -- little "kingdoms", ruled over by a feudal "lord", often even referred to as a king.  These petty little kings, between themselves, pretty much controlled (outright owned, actually) the vast majority of the property and wealth.  This is the role in which the rich and powerful see themselves.  Then, there was the royal court - generally comprised of moderately well-off toadies which serve as counselors and courtiers, at the pleasure of the king.  And, finally, there are the rest of the people -- the lower class.  These people serve the nobility, doing all of the work.  (And, when needed, doing any fighting and dying the king needs, to preserve his title.)  This, of course, is how those rich and powerful see the vast majority of the people.  They get fed as the nobility sees fit.  Their healthcare depends on whatever the king decides to provide.  Their entire existence is totally subject to the whims of the feudal lord.

This is the world of which the "upper class" dream.  The world the Trumps and Kochs, and a few others, would so love to return to.  The world in which they, the privileged few, are in total control.

And, how did these "nobles" accomplish this control?  Through ignorance and fear (anything sound familiar??)  And, they had help -- in the form of (wait for it) --- religion.  Religion was used to spread the superstitions that kept the ignorant masses dependent upon the nobility for protection.

This world isn't the pipe dream that it once was.  It's not that hard to see the world heading into another Dark Ages.  And, it's people like Trump, who are leading the way, with the support of his "nobility" --- the Republican senate and representative toadies who think they're going to come out of it with enough favor to profit, themselves.  They're using religion, fear, and superstition (misinformation, conspiracy theories, fabricated "threats" etc.), just like the feudal lords.

And, as long as enough of the masses keep falling for it, the closer we keep getting, to them getting their dream.
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« Reply #4 on: December 23, 2018, 12:12:56 pm »

Quote
It isn't the lower class that the ultra-rich hope to wipe out -- it's the middle class.  They need the lower classes, to do the work for them.  To be their peons, their proles.  If one wants to see what kind of world they envision, one only has to open a history book, and turn to the sections on the middle ages.  The feudal system.

Usually, I'd agree with you 100%. I truly believe that the ultra rich's goal is to wipe out the lower (tier) class. They also will reduce the middle class closer to a lower class. Now, the reason that they wish to wipe out the lower class is because with today's technology moving in the direction that it is, and at a fast pace, is that the rich will own robots that'll do the work of the lower class. If, of course, they seek the touch of a real human in which will be those once in a stable middle class, approaching a lower class status. I predict that all of this new age robotic service in the private sector will be upon us in probably only 25 yrs ….. +- 5 yrs. We're seeing evidence of this already. Other than this, I'm 100% on board with you.


Those 'deplorables' ….. brainwashed or ignorant 'deplorables' will one day find out that they were taken for fools. Sadly, too late. So, all the bad that comes Earthling's way they too will get caught up in the extreme pain ahead … then death. That's what happens to those of the bottom of the barrel ate up with stupid. Of course, there's also good ones with common sense who'll suffer the same fate. Once all things bad begins, there's no place to run or hide. I understand that all of this sounds morbid, but because there's so much handwriting on the wall, I won't pretend that our bed of roses will still be there for us. The Bushies and Trumpians are making sure that all of this is set in stone. Ignorant bliss on steroids.

In the meantime,

brainwashing will still take place as you stated. It will be inflicted on those still considered a part of the middle class. What comes after that in 50+ yrs? Well, unfortunatly, this is when I believe that our dear Earth will face destiction by then. With only a few who may survive what's coming ..... and the rich trying to exist on our space station or the early stages of colonization on another terestrial body in space. They'll command whomever is left on Earth to roam from their special protected roosts 'out there'. Or maybe Earth becomes a graveyard or sorts. Or a planet where dangerous wastes are dumped since there's no where else to dump it ... yet. A living Earth itself ..... done.


Far out, huh?


We saw a crazy week at Wall Street. I wonder how many ppl were suckered in to buying stocks and retirement packages theses past 2 yrs only to get screwed again? I'm sure that there's several who got nailed.


https://www.aol.com/article/finance/2018/12/21/wall-street-suffers-worst-week-in-a-decade-as-economic-worries-mount/23624908/


Wall Street suffers worst week in a decade as economic worries mount


April Joyner
Dec 21st 2018 4:35PM

The Dow Jones Industrial Average <.DJI> fell 271.91 points, or 1.19 percent, to 22,587.69, the S&P 500 <.SPX> lost 34.61 points, or 1.40 percent, to 2,432.81 and the Nasdaq Composite <.IXIC> dropped 154.57 points, or 2.37 percent, to 6,373.84.

For the second day in a row, more than 2,000 New York Stock Exchange and Nasdaq-listed stocks hit 52-week lows. The day before, nearly 3,000 stocks hit their low for the year, the most in any one day since October 2008.



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« Reply #5 on: December 23, 2018, 04:44:07 pm »

 The planet already has more people, on it, than it can adequately support.  What happens to all those people, when those in power decide they just don't need most of them?

Science fiction writers have been using this scenario for quite some time, now.  Robert Heinlein's classic series, I, Robot takes it even a step further, in envisioning a future which culminates, in his final book of the series, with robots witnessing the death of the very last human.  Is that, really, such an impossible, if not improbable, outcome?  Are humans, by developing these new technologies, bringing about their own demise?  When robots develop more and more reasoning ability, are they going to get to the point of realizing that it just makes no more sense, to provide for and support such a fragile, inefficient lifeform?

It's a lot to think about, isn't it?

Fortunately, for myself, I really won't have to worry about it.  I'm 68 years old.  I have health problems that probably mean I won't see technology advance to such a point.  But, I may well be witnessing the beginning of the end.  I have three kids, in their 30's and 40's.  What kind of a world will our generation be handing them -- or, maybe, dooming them to?  An environment that's striking back, against the humans who seem so bent upon destroying it.  Technology advancements that will make human life obsolete.  A political and economic system that will subject the vast majority of them to abject poverty, if not outright slavery.

Maybe being old, and nearing the end of things, isn't all bad, after all.  And, I can only hope that those who are coming after us, will develop an awareness of what humans are doing to themselves -- and have more sense than we did, in coping with it.


It is a lot to think about. If I were in my early 20s, I'd be almost sick to my stomach trying to figure out how the hell I'd ever make it on a planet and a selfish ignorant nation like ours to be able to survive. We needed a much better president and justice system by 2005, in my opinion. In order to begin reversing our collective selfish ignorance. But, here we are 2019 sinking deeper in a death hole with very little to actually change what we've become. That's why I've become so darn negative in my old age now. I really don't see true intelligence of sincerity winning out. So, I imagine that as Wall Street keeps soaking fools of their monies as they party like no tomorrow, the sh*t will hit a giant fan that begins that end that you also sense is coming. Trump has triggered that final leg of such a terrible journey.


Today, like magic, Wall Street gained over 1000 points. With no rhyme or reason, this is what it does. At least with it dropping like it has this mth, it felt like that it was returning to a more actual side of Wall Street. Too many insider jerks controls this beast to let anything 'real' show it's true colors. But, no matter. We're faced with more higher taxes, fees and insurance premiums this coming yr. Higher costs of goods and food. Our death spiral yr after yr. Yes, as you stated ..... a climate truly gone to hell. I welcome anyone who can talk me down with real facts that we'll turn this train wreck around. I sure don't see it. I'm just glad that I don't have to explain to grade schoolers what a future they don't have. I really couldn't look them in the face with honesty about it.
« Last Edit: December 26, 2018, 07:34:41 pm by A159 » Report Spam   Logged

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