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It is crashing for the moment until the panic people sell out. Then smart money moves in. We shall see how low it goes. Our anti-cheap energy government that was voted in isn't helping matters of course as we are coming off a pandemic and they are not allowing cheap energy sources to flow. We are getting what we deserve however.
Simultaneously some are getting what they did not deserve nor ask for.
A downturn is inevitable. Fed has over-reacted and rates are too high. We still need much more housing, yet projects are being cancelled and everyone from bank staff to tradespeople are getting pink slips despite months or years long wait lists for housing in my area. Next jobs report is going to be ugly, but maybe "camouflaged" by the labor shortage.
A downturn is inevitable. Fed has over-reacted and rates are too high. We still need much more housing, yet projects are being cancelled and everyone from bank staff to tradespeople are getting pink slips despite months or years long wait lists for housing in my area. Next jobs report is going to be ugly, but maybe "camouflaged" by the labor shortage.
Americans are spending like no tomorrow...yet we have a labor shortage.
We have 7+million illegals with many getting work permits...yet we have a labor shortage.
I live in a tourist town and for a while there was a labor shortage when things started to pick back up again but today...I don't see any labor shortage around me anymore.
And if you go to Daily Job Cuts ...there are hundreds and hundreds of layoffs happening.
Government spending(Fed, state, and local) made up 40% of our economy last year. This could get really ugly if there’s a downturn. The deficits would be astronomical. Interest rates would sky rocket.
The Dow is still up over where it was last year, and WAY up over where it was 4 years ago.
And that was WAY WAY up over 10 years ago.
Brave money makes money. Don't lose heart.
Nope, it went down for the year today. And last year was already a disaster for the stock market. Bidenomics, the gift that keeps on giving. Just one more of the disasters Oatmeal has dumped on the American people.
Government spending(Fed, state, and local) made up 40% of our economy last year. This could get really ugly if there’s a downturn. The deficits would be astronomical. Interest rates would sky rocket.
It's already ugly. All our government debt is being refinanced at higher interest rates. Interest on the debt alone is a major factor in government spending.
We still have not recovered back to the highs of Dec 2021. If it was overvalued then, and we are still down today, nearly 2 years later...when might it be properly valued? What's your number?
Quote:
Originally Posted by sholomar
We need to deleverage this speculative environment we are in of excessive printing. With bond yields at 5% and the stock market this high it's silly to choose equities right now. Definitely not an environment we've seen for a generation. Hope they keep doing QT...hope they don't adopt a "bail out everyone" mentality (but they will)
If you used your home "equity" to take out a loan and spend the money on useless stuff, its nobody's fault but your own. Same with all debtors who leverage recklessly.
A couple of years ago I used my home equity to take out a loan to build a new shed. Was that "useless stuff" in your view? What makes you think no one takes out loans for USEFUL stuff?
And I just paid my HELOC off.
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What makes you think no one takes out loans for USEFUL stuff?
