Dow plunges 666 points -- worst day since Brexit

[ltorlo64]

Kind of odd to call it a budget when you're spending like drunken sailors and running nearly a trillion dollars into the red each year.

I thought the GOP was supposed to be the fiscally-responsible party? Instead, they're just as bad as the Democrats!

Didn't say I liked it, but it was a budget, something that the Democrats refused to make even though required by law. They just kept pushing the budget until after the next election cycle so that they would not be held accountable for the hard decisions that have to be made to pay for their social programs (a code word for wealth redistribution). I also think they did it so that the amount of money liberals were wasting would not be as visible as it would not be argued and debated in the news, even if is was being spun to help them.

[Full Otto]

Don't forget the "government shutdown" ace up their sleeve they like to play

[LAGC]

Dow, S&P turn negative for 2018 as stocks slide

Stocks fell sharply on Wednesday as growing Wall Street pessimism pulled two major U.S. indexes in negative territory for 2018.

The Dow Jones Industrial Average lost 608 points Wednesday, a 2.4 percent drop that wiped out the index’s gains on the year. Standard and Poor’s 500 index fell 3.1 percent, also sliding below its 2018 open.

The Nasdaq composite tanked 4.1 percent as a Silicon Valley sell-off brings the tech-heavy index deeper into a formal correction.

U.S. stocks have slid throughout October as traders brace for higher interest rates, deepening trade tensions and moderating corporate earnings to slow the economy.

This month, the Dow has dropped 7.1 percent, the S&P 500 has fallen 8.9 percent and Nasdaq has tumbled 11.7 percent, according to CNBC. A formal correction is considered a 10 percent drop from a stock or index’s most recent peak.

The October sell-off is the second major market downturn of 2018 and comes two weeks before the midterm election. Unemployment remains close to record lows but the fading stock market could hamper Republican efforts to maintain control of Congress by touting the strong economy.

https://thehill.com/policy/finance/4...s-stocks-slide

[5.56NATO]

As the fed tightens the supply of U$D, it affects every country on earth. As our economy starts to slow down because the velocity of money has been slowed, we take everyone down with us. In a global economy predicated on loose U$D, if those U$D stop flowing, ie the trade imbalance is rectified, ie the US starts to export more and import less, developing nations will fall as they depend upon cheap and loose U$D being available. Not only is the river of fed money slowing, it's also drying up. Slowing the current is akin to the interest rate, higher rates means slower current, the fed quantitative tightening operation is akin to damming the river upstream, or siphoning it off. That being said, cronies in the banskter ranks and foreign countries have been taking the USA for a ride for decades now.

[LAGC]

Stocks closed lower on Monday, giving up sharp gains from earlier in the day in a wild session that saw the Dow Jones Industrial Average travel more than 900 points. The S&P 500 closed in correction territory, down 10 percent from its recent high.

Traders blamed the possibility of more U.S.-China tariffs coupled with a drop in tech shares for the decline.

The Dow fell 245.39 points to 24,442.92, erasing a 352-point gain, as Boeing dropped 6.6 percent. At the lows of the day, the Dow was down 566 points before coming back shortly before the close. The 30-stock index also briefly dipped into correction territory.

The S&P 500 closed 0.7 percent lower at 2,641.25 after gaining more than 1 percent earlier in the day. The benchmark is now down 10.2 percent from its high reached at the end of September. The Nasdaq Composite fell 1.6 percent to 7,050.29 as shares of Amazon got pounded.

https://www.cnbc.com/2018/10/29/stoc...n-worries.html

Look at that volatility, BABY!

This guy thinks the stock market is going to rebound 20% before crashing at least 50% down on the rebound:

https://www.marketwatch.com/story/st...out-2018-10-26

YIKES!! Could make 1929 look like a walk in the park...

[1 Patriot-of-many]

Nothing new here, Stocks get overvalued, they sell off.....Volatility is good for trading. I make most of my money trading short when you know the peak has come or has to be close. No investment goes up forever in a linear straight line. If it does crash 50%, guess what I'll be doing? Borrowing money to buy stocks! The Fed needs to be abolished, their supposed function is to the the value of the dollar stable. Anybody here think they've down a good job at this supposed function?

[5.56NATO]

"on October 1st, 2018 the net liquidity injection from the combined balance sheets of the Fed, ECB and BoJ went to zero vs $100b per month in Q4 2017. A few days later Jay Powell reminded everyone that they will continue on their rate hike path to maybe above neutral. We know what’s happened to stocks this month…"


The central banks have decided to pull the plug on the economy of the world. They will try to blame Trump, but he is master of bankruptcy, I imagine if they push him, he will have the Treasury introduce US Notes that bear debt to no one and the fed can pound sand.

[Jester560]

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.

The U.S. dollar is already worthless. Only its status as the global currency is propping it up.
It is all electronic money now anyways. There is nothing to back up all the funds in the stock market. It exists on the ethernet only.

The only bubble that will burst are the self, over inflated bubbles like the .com bubble of recent history. The market will self correct and all will be well again and on the rise.

Sent from my SAMSUNG-SM-G935A using Tapatalk

[1 Patriot-of-many]

"on October 1st, 2018 the net liquidity injection from the combined balance sheets of the Fed, ECB and BoJ went to zero vs $100b per month in Q4 2017. A few days later Jay Powell reminded everyone that they will continue on their rate hike path to maybe above neutral. We know what’s happened to stocks this month…"


The central banks have decided to pull the plug on the economy of the world. They will try to blame Trump, but he is master of bankruptcy, I imagine if they push him, he will have the Treasury introduce US Notes that bear debt to no one and the fed can pound sand.

Yep they are deliberately trying to sink the economy. The Fed needs to go, but you get killed if you try to go back to the Constitutional requirement that Congress coin money. Just ask JFK what happens when you print up debt free gov't notes to pay off the vultures.

[JTHunter]

The U.S. dollar is already worthless. Only its status as the global currency is propping it up.
It is all electronic money now anyways. There is nothing to back up all the funds in the stock market. It exists on the ethernet only.

The only bubble that will burst are the self, over inflated bubbles like the .com bubble of recent history. The market will self correct and all will be well again and on the rise.

Sent from my SAMSUNG-SM-G935A using Tapatalk

I disagree.
While the dollar MAY get replaced as the world's reserve currency, the volatility of the various cryptocurrencies PLUS the lack of any standards on them will prevent them from being adopted by all countries. Some might, but not all.