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Thread: Dow plunges 666 points -- worst day since Brexit

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    Registered User LAGC's Avatar

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    Exclamation Dow plunges 666 points -- worst day since Brexit

    Wall Street just suffered the worst day of the Trump presidency.

    The Dow closed down 666 points, or 2.5%, its biggest percentage decline since the Brexit turmoil in June 2016 and steepest point decline since the 2008 financial crisis.

    A strong jobs report showed wage growth is finally starting to pick up. That's great news for workers, but it reinforced investors' concern about inflation and the bond market.

    "It's all about rates. Asset prices and the economy have become addicted to low rates," said Peter Boockvar, chief investment officer at the Bleakley Financial Group. "Sentiment got euphoric. There is more froth that needs to be taken off."

    The sell-off knocked the Dow well below 26,000. Both the Dow and S&P 500 suffered their biggest weekly drops since early 2016 -- roughly 4% each.

    Political turmoil is adding to the uncertainty. Market analysts pointed to the clash between the Trump administration and the FBI as another concern.

    "There looks like a breakdown of the institutions in our country," said Ian Winer, head of equities at Wedbush Securities. "No matter what side you're on, that's not good."
    http://money.cnn.com/2018/02/02/inve...dow/index.html

    Beginning of the fall?

    As Americans lose faith in their government and law enforcement institutions, are things about to take a turn for the worse in America?
    "That tyranny has all the vices both of democracy and oligarchy is evident. As of oligarchy so of tyranny, the end is wealth; (for by wealth only can the tyrant maintain either his guard or his luxury). Both mistrust the people, and therefore deprive them of their arms." -- Aristotle, Book V, 350 B.C.E

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    Administrator imanaknut's Avatar

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    Normal profit taking, most likely to last a little while longer.

    Considering how high the DOW got I'm surprised this hasn't happened sooner.

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    Quote Originally Posted by LAGC View Post
    http://money.cnn.com/2018/02/02/inve...dow/index.html

    Beginning of the fall?

    As Americans lose faith in their government and law enforcement institutions, are things about to take a turn for the worse in America?
    Why do you ask? Is this what you wish? You ask but do not seem to answer.
    While no one ever listens to me,
    I am constantly being told to be quiet.

    In a world of snowflakes,
    be the heat..

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    Who runs the fed? Interest rates going up? Remember all the years of QE? Guess not, the 1st half black muslim American hating was pouring 83 million a month into wall street. dems hate wall street...
    Remember the 834 Billion for the fake stimulus? Oh please let us not forget the 500 Billion taken from medicare to make o/care come in under 1 Trillion.
    While no one ever listens to me,
    I am constantly being told to be quiet.

    In a world of snowflakes,
    be the heat..

  5. #5
    Team Guns Network Silver 04/2013 alismith's Avatar

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    Quote Originally Posted by LAGC View Post
    http://money.cnn.com/2018/02/02/inve...dow/index.html

    Beginning of the fall?

    As Americans lose faith in their government and law enforcement institutions, are things about to take a turn for the worse in America?
    The only Americans who have lost faith in our government are the Leftist Liberal Dimocrats who are doing their best to destroy it.

    True Americans have not lost any faith in our government.
    "Valar morghulis; valar dohaeris."

    Commucrats are most efficient at converting sins and crimes to accidents or misunderstandings.-Oswald Bastable

    Making good people helpless won't make bad people harmless.

    Freedom isn't free.

    "Attitude is the paintbrush that colors our world." TV Series, Haven.

    My Spirit Animal has rabies.

    I'd rather be an American than a Democrat.

    "If you can make a man afraid, you can control him" Netflix Series, The Irregulars

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    My guess is LAGC's loins started twitching when he saw 666

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    All that is is 18 and I don't know what I want. Alice Cooper. 72?
    While no one ever listens to me,
    I am constantly being told to be quiet.

    In a world of snowflakes,
    be the heat..

  8. #8
    Guns Network Lifetime Member #2

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    The stock market always goes straight up and never has corrections....... Even if we do have a crash, I look at it as a buying opportunity. I had 2000 shares of Citicorp after the 2008 crash @$4 a share, Stupidly I sold them. It was recently around $80 a share Do the math if I held them for 10 years. I'll be borrowing or raiding my bank account silly if the DOW lost 50-60 percent again.

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    Senior Member JTHunter's Avatar

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    From what I've been hearing, one of the biggest reasons Wall Street tumbled Friday is that the Fed. Res. is making "noises" that inflation might be coming back and they will raise interest rates. Wall Street never likes to hear that.
    “I have little patience with people who take the Bill of Rights for granted. The Bill of Rights, contained in the first ten amendments to the Constitution, is every American’s guarantee of freedom.” - - President Harry S. Truman, “Years of Trial and Hope”

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    Registered User LAGC's Avatar

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    Dow drops more than 1,400 points in second day of significant market sell-off

    The Dow Jones industrial average plunged more than 1,400 points in afternoon trading on Monday as volatility returned to the stock market with a vengeance after a year of rare tranquility.

    The Dow has retreated more than 1,700 point in the last two sessions, a decline pushing 5 percent and shattering long-term momentum. The index was swinging 100 points in minutes Monday afternoon as Wall Street wags tried to decode events.

    One of the big worries is that the Federal Reserve, under new chairman Jerome Powell who was officially sworn in Monday, will accelerate interest rate hikes, stoke inflation and slow the economy. A slowing economy would likely turn the bull market toward bearish.
    https://www.washingtonpost.com/busin...935_story.html
    "That tyranny has all the vices both of democracy and oligarchy is evident. As of oligarchy so of tyranny, the end is wealth; (for by wealth only can the tyrant maintain either his guard or his luxury). Both mistrust the people, and therefore deprive them of their arms." -- Aristotle, Book V, 350 B.C.E

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    Team Guns Network Silver 04/2015 mrkalashnikov's Avatar

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    I've been investing in the stock market for 30+ years. This is what it does, go up then go down. I've made a lot more money than lost over those decades by the way...lol at the chicken-little doomsayers saying it's the End of America.
    Nietzsche: From life's school of war: what does not kill me makes me stronger.

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    Team Guns Network Silver 04/2015 mrkalashnikov's Avatar

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    Quote Originally Posted by imanaknut View Post

    Considering how high the DOW got I'm surprised this hasn't happened sooner.
    Yes. 25,000+ points, the highest in US history.
    Nietzsche: From life's school of war: what does not kill me makes me stronger.

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    Quote Originally Posted by LAGC View Post
    Dow drops more than 1,400 points in second day of significant market sell-off



    https://www.washingtonpost.com/busin...935_story.html
    Damn you stoopid. If you had 1 dollar invested you lost less than a Nickel .05 per dollar.
    While no one ever listens to me,
    I am constantly being told to be quiet.

    In a world of snowflakes,
    be the heat..

  14. #14
    Registered User LAGC's Avatar

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    Quote Originally Posted by l921428x View Post
    If you had 1 dollar invested you lost less than a Nickel .05 per dollar.
    In just one single day... repeat that for 20 days, and you've lost it all.

    Lots of chatter on "market watch" outfits that a huge bear market is looming... the bubble is starting to pop.
    "That tyranny has all the vices both of democracy and oligarchy is evident. As of oligarchy so of tyranny, the end is wealth; (for by wealth only can the tyrant maintain either his guard or his luxury). Both mistrust the people, and therefore deprive them of their arms." -- Aristotle, Book V, 350 B.C.E

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    Senior Member NAPOTS's Avatar

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    Is that what you would like to see lagc? I guarantee a collapse of our financial system isn't going to lead to a utopian society with free shit for everyone

  16. #16
    Registered User LAGC's Avatar

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    Well, Karl Marx did prophecize that socialism would arise out of capitalism's ashes?

    Although I suppose there's just as good of chance we could slide back into neo-feudalism as well if that were to happen...
    "That tyranny has all the vices both of democracy and oligarchy is evident. As of oligarchy so of tyranny, the end is wealth; (for by wealth only can the tyrant maintain either his guard or his luxury). Both mistrust the people, and therefore deprive them of their arms." -- Aristotle, Book V, 350 B.C.E

  17. #17
    Registered User LAGC's Avatar

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    As U.S. stocks plummet, Trump goes silent on role in markets

    WASHINGTON/NEW YORK (Reuters) - As U.S. stocks plunged on Monday, President Donald Trump was speaking at an event in Ohio but noticeably not taking credit for the market despite doing so repeatedly when stocks were rising.

    The stark contrast was a sign that Trump may be absorbing a tough message, underscored by former White House advisers, that American presidents traditionally have avoided commenting directly on Wall Street’s fickle trends.

    Gene Sperling, a top economic adviser to Democratic former presidents Bill Clinton and Barack Obama, said Trump erred in recent months by focusing so heavily on the stock market.

    “Even though the stock market tripled under Bill Clinton, his view was that you should always focus your policies and your public messages on bread-and-butter kitchen table issues ... and that focusing on the stock market would take your eye off the real economy,” Sperling said.
    https://www.reuters.com/article/us-u...-idUSKBN1FP2TL
    "That tyranny has all the vices both of democracy and oligarchy is evident. As of oligarchy so of tyranny, the end is wealth; (for by wealth only can the tyrant maintain either his guard or his luxury). Both mistrust the people, and therefore deprive them of their arms." -- Aristotle, Book V, 350 B.C.E

  18. #18
    Team Guns Network Silver 04/2013 alismith's Avatar

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    Why do you appear to be so happy the market is falling?
    "Valar morghulis; valar dohaeris."

    Commucrats are most efficient at converting sins and crimes to accidents or misunderstandings.-Oswald Bastable

    Making good people helpless won't make bad people harmless.

    Freedom isn't free.

    "Attitude is the paintbrush that colors our world." TV Series, Haven.

    My Spirit Animal has rabies.

    I'd rather be an American than a Democrat.

    "If you can make a man afraid, you can control him" Netflix Series, The Irregulars

  19. #19
    Contributor 02/2014 FunkyPertwee's Avatar

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    The US dollar is going to eventually fail, and the stock market is totally manipulated by the central banks. Trump is no more responsible for its crash than he is its success over the last year. In fact, I suspect they let the market do well this year just so that Trump would take ownership of the economy so that they could crash it afterwords and lay the blame on him.
    "I'm fucking furious, I'm violently angry, and I like it. If you don't know what that feels like then I feel bad for you"

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    Administrator Krupski's Avatar

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    Quote Originally Posted by alismith View Post
    The only Americans who have lost faith in our government are the Leftist Liberal Dimocrats who are doing their best to destroy it.

    True Americans have not lost any faith in our government.
    I'm a "True American" in every way and I have ZERO faith in our government.
    Gentlemen may prefer Blondes, but Real Men prefer Redheads!

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