OT - Dow plunges 1,175 - worst point decline in history

[MattTuck]

Originally Posted by FlashUNC

The strength of the 2008 response to the market collapse was in the coordinated, global moves by Fed, ECB et al, working in close collaboration to stave off disaster.

There's none of this here and it looks purely like panic moves. To quote Captain Kilgore, from where I sit, I don't see much method at all.

It seems to me that we are still waiting for an end to central banks' 2008 response.

[FlashUNC]

True but through the end of 2008 and into 2009, central banks globally had a worldwide response to the crisis.

The Fed's move today just reeks of panic and we're seeing that in the market response.

[Tony T]

Originally Posted by FlashUNC

The Fed's move today just reeks of panic and we're seeing that in the market response.

Reeks more of a political response, and no one wants to pay lecture fees to a fired Fed Chairman.

[goonster]

Originally Posted by Tony T

fired Fed Chairman.

The Chairman of the Fed can't be fired. He can only be tweeted at disapprovingly.

[mtechnica]

Next is the part when everyone realizes the emperor has no clothes.

[MattTuck]

Originally Posted by mtechnica

Next is the part when everyone realizes the emperor has no clothes.

I've been waiting for that part for about 8 years. hasn't happened yet. Not sure why a virus would be any more effective in exposing the delusion than the other observable facts that everyone can see, including record central bank balance sheets, unprecedented interventions in markets, profligate government spending, inter-generational theft on a massive scale, record personal indebtedness, and many others.

[echappist]

Originally Posted by MattTuck

I've been waiting for that part for about 8 years. hasn't happened yet. Not sure why a virus would be any more effective in exposing the delusion than the other observable facts that everyone can see, including record central bank balance sheets, unprecedented interventions in markets, profligate government spending, inter-generational theft on a massive scale, record personal indebtedness, and many others.

how does that old quote go again? The market can stay irrational for longer than you can stay solvent...

it might not even take something "rational" for it to correct;

[likebikes]

dead cat bounce.

[notsew]

Originally Posted by MattTuck

It seems to me that we are still waiting for an end to central banks' 2008 response.

Yeah, its hard not to feel like the "longest economic expansion on record" isn't just the largest bubble in history.

The yield on the 10-year treasury just dropped below 1% for the first time in history. Really getting into some uncharted territory here. (but probably a good time to refinance your mortgage)

[Clean39T]

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[echappist]

Originally Posted by Clean39T

We closed our house sale today and it feels like a huge weight is off my shoulders.....I really didn't want to have to move back in there and ride out a four year market correction... Now the question becomes: continue to rent for a while and see where the market goes, or just buy where we want to be long term and maybe take advantage of the low rates?

Sent from my Pixel 2 XL using Tapatalk

5 years or more, buy

less than that, rent

[Yoshi]

Don’t worry. Pence is all over it.

[Ken Robb]

I was a real estate broker for 36 years and always suggested that buyers not overthink the investment aspect of home ownership. Buy what you love in a location you love if you can afford it. If you have to compromise do it on the house but GET THE LOCATION. Homes can be improved but not moved easily. If you are in a home you love in an area you love you won't be selling it for a long time if ever.

[robertbb]

Originally Posted by MattTuck

I've been waiting for that part for about 8 years. hasn't happened yet. Not sure why a virus would be any more effective in exposing the delusion than the other observable facts that everyone can see, including record central bank balance sheets, unprecedented interventions in markets, profligate government spending, inter-generational theft on a massive scale, record personal indebtedness, and many others.

Best statement in this entire thread.

[Clean39T]

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