doctor_fungcool
TB Fanatic
And this has what to do about my understanding of precious metals? Doc, are you sure Joe Biden hasn't hacked your account here?
Joe is everywhere.
ECON FUNG RED ALERT: DOW AND NAS PLUNGE - Friday 2/28 - DOW Hits -1,000 In Early Morning Trading
- Thread starter doctor_fungcool
- Start date
Joe is everywhere.
doctor_fungcool
TB Fanatic
Down 1012 pts as we speak......WOW!!!And this has what to do about my understanding of precious metals? Doc, are you sure Joe Biden hasn't hacked your account here?
Jonas Parker
Hooligan
If it goes down another 2000 points. it may be time to buy...
Vegas321
Live free and survive
Ultimately, the true value of the dow, is ~8k, IMO
doctor_fungcool
TB Fanatic
Jonas Parker
Hooligan
OK, 3000 points...
It took about 18 months or so back in 2007-2009 for the DOW to go from almost 14k to around 7k. I think this time will be different. Even if those plungy protection worker bees toil away. But who knows what rabbits they are holding yet.
I sure do hope someone gets to tell me later on how silly I was. I hope I regret moving mostly out of stocks as I watch them raise above 30k as this virus fuzzles out. I hope buying gold last month at just over $1500
wasn't as foolish as I was afraid it was as I hit submit order.
But I am quite nervous that I did the right thing.
I sure do hope someone gets to tell me later on how silly I was. I hope I regret moving mostly out of stocks as I watch them raise above 30k as this virus fuzzles out. I hope buying gold last month at just over $1500
wasn't as foolish as I was afraid it was as I hit submit order.But I am quite nervous that I did the right thing.
Allotrope
Inactive
Gold Suddenly Hammered By Multi-Billion-Dollar Sale
Gold prices just suddenly plunged on the back of over $3 billion notional of futures being dumped through the market...
The orders hit at 1430ET - right as one typically sees margin calls issued - which suggests that perhaps someone just sold whatever they could to cover the collateral calls on their equity market losses.
Gold prices just suddenly plunged on the back of over $3 billion notional of futures being dumped through the market...
The orders hit at 1430ET - right as one typically sees margin calls issued - which suggests that perhaps someone just sold whatever they could to cover the collateral calls on their equity market losses.
I've seen that happen before in past equity drops, and we'll probably see more of it, too,
but thing is that never adds any physical to market and then premiums will start to climb
for physical buyers as disconnect is seen with less physical readily available for demand.
Panic Early, Beat the Rush!
- Shane
doctor_fungcool
TB Fanatic
Dow down 1031....
doctor_fungcool
TB Fanatic
twobarkingdogs
Veteran Member
At 30 minutes before the close all of the us market indexes, dow/s&p/nas are down around 3.5% which for the dow is a bit more then 1000 points
For me a correction won't really hit home until the dow is back into the teens which puts it back to where it was when trump got elected.
This rise is all easy money and irrational exuberance as earnings have not been growing as fast as asset prices have.
tbd
For me a correction won't really hit home until the dow is back into the teens which puts it back to where it was when trump got elected.
This rise is all easy money and irrational exuberance as earnings have not been growing as fast as asset prices have.
tbd
Profit of Doom
Dismember
I don’t think you can “call a treasury due”. Don’t they have attached due dates when you buy them?
twobarkingdogs
Veteran Member
Yes, You can sell them early on the open market but you can not force the US government to redeem them before their due date.
tbd
Allotrope
Inactive
If the market drops 80%, Dow 5600 ish, 401ks, annuities, many pensions, home values, all government sections, and more will have great problems. People are much more dependent on financial resources than they were in 1929 and the psychology and morals are far removed from that time. It would be a much greater depression, society changing event.
Bern the nation?
Profit of Doom
Dismember
So we’re not concerned about that as a country?
Melodi
Disaster Cat
Not to mention things are a lot more complicated than they were in 1929, there is a true story about two men who were wall-street high flyers who lost everything in that big one-day Crash in 1929.
They were brothers, they went home to their mansions and cleaned out their fridges, went back to Wallstreet the next day and were selling sandwiches from a homemade cart. In about three years they opened their own restaurant.
Reagan had a famous story about his Dad just making a homemade sign for the side of the family car that said "Taxi" during the same time period.
Neither is possible today, not without thousands for license fees, forms to be filled out, permissions, industrial kitchens or taxi fees.
I mean yes, today there is Uber, but that's getting more regulated too.
If things get really-really-really bad, that sort of issue will become less of a problem especially in rural areas or neighborhoods where people will protect each other (because they want the service the person is providing under the table) but at first, the same solutions simply are not out there.
They were brothers, they went home to their mansions and cleaned out their fridges, went back to Wallstreet the next day and were selling sandwiches from a homemade cart. In about three years they opened their own restaurant.
Reagan had a famous story about his Dad just making a homemade sign for the side of the family car that said "Taxi" during the same time period.
Neither is possible today, not without thousands for license fees, forms to be filled out, permissions, industrial kitchens or taxi fees.
I mean yes, today there is Uber, but that's getting more regulated too.
If things get really-really-really bad, that sort of issue will become less of a problem especially in rural areas or neighborhoods where people will protect each other (because they want the service the person is providing under the table) but at first, the same solutions simply are not out there.
That’s what people on this thread are hoping for.
fixed
20Gauge
TB Fanatic
From what I see at work, a 5000 pt drop will destroy most people....
Allotrope
Inactive
Hope for the best, prep in case you are disappointed.
NoMoreLibs
Kill Commie's, Every Single One Of Them!
Futures are already at -1000+. It's early though.
No depression yet, still building the home in da woods. Need a few more months. We're close and could live there if needed but I'd rather get it a bit further along.
No depression yet, still building the home in da woods. Need a few more months. We're close and could live there if needed but I'd rather get it a bit further along.
vector7
Dot Collector
Nat'l. Assn. of Federal Credit Unions CEO, Dan Berger, on Coronavirus & the Economy (3:50)
View: https://youtu.be/clxJjJsEKSk
The Hammer
Has No Life - Lives on TB
To put it in perspective, the Dow is at 3 times where it was around the 2008 crisis. So a -3.5% day now is equivalent to a -350 or so day back then. And on the bad days back then, we were seeing twice that drop.
So, I think a big round number like 1,000 catches people's eyes like the sky is falling, but how many put it into relative perspective?
We could easily gain 700 a day tomorrow and the next day, and be better than when we finished Friday. Or we could keep dropping. Just have to wait and see. We were due for at least a correction.
twobarkingdogs
Veteran Member
If the chinese dumps all of their treasury holdings on the open market then yes we would be concerned. But the concern would be in that it would drive up interest rates such that the US government could not afford to issue new debt.
Why, as the flood of treasuries on the open market would cause prices to fall. Supply and demand. Those falling prices cause interest rates to rise as something paying a yield of $300 or 3% when priceed at $1000 pays a yield of $300 or 3.75% when it is priced at $800. So why buy a new issue at 3% when you can buy an open market issue at 3.75%
tbd
Not me. I'm too old, too tired, too sick. I like my life nice and comfy. I really don't want anything but for this to fizzle out. I really truly don't.