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

[oldpotatoe]

Gotta remember, just like 'weather' doesn't equal 'Climate', the DJIA doesn't equal the economy..DJIA looking good but the economy, many 'warning signs', dutifully ignored by the guy sitting in the big chair who is more interested in TV moments and twitter than the truth.

[kppolich]

The economy is just fine.

Financial success comes down to personal choices and is 100% related to the amount of money you keep, and not the amount of money you make.

The stock market is just one vehicle that allows that money you have kept to grow, but with a risk. It is also not the end all be all to judge the economy.

This forum is a great reference for a lot of things, especially bikes. But get and give your financial advice elsewhere.

[Burnette]

The Dow and all markets are indicators, like weather vanes, and oh how the wind changed direction for Boeing.

After solid gains versus Airbus, Boeing is under pressure for the cause of two tragic 737 aircraft crashes. Up one week, down hard the next, that's what makes it so hard to predict.

And Brexit. Wow. Teresa May gave her hoarse condemnation of the failed vote. This will linger and weigh on the markets even after a no deal hard exit, extended deadlines or, unbelievable though it could happen, squashing Brexit altogether.

[Tony T]

"I have every single record for the stock market"

[PQJ]

Originally Posted by Burnette

squashing Brexit altogether.

Were GB run by right thinking adults, this is the only thing that should happen. Brexit was / is monumentally epic stupid sold on a lie. I'm tempted to say "screw the British" if it actually happens, but I know the fallout will extend beyond GB.

Sorry for the thread drift.

[echappist]

Originally Posted by PQJ

Were GB run by right thinking adults, this is the only thing that should happen. Brexit was / is monumentally epic stupid sold on a lie. I'm tempted to say "screw the British" if it actually happens, but I know the fallout will extend beyond GB.

Sorry for the thread drift.

they've finally gotten tired of screwing other countries, so they decided to indulge in onanism and just screw themselves over this time

[Tony T]

S&P at 2830 and ~85 points from the all-time high (last August).

[Tony T]

The Fed Gave Trump What He Wants, Carefully
"Rate hikes seem to be off the table.
Forecasts show that Fed officials broadly expect not to raise rates at all this year, with a single rate increase in 2020 and none in 2021"

S&P at 2850 and ~65 points from the all-time high.
.

[Burnette]

Originally Posted by Tony T

The Fed Gave Trump What He Wants, Carefully
"Rate hikes seem to be off the table.
Forecasts show that Fed officials broadly expect not to raise rates at all this year, with a single rate increase in 2020 and none in 2021"

S&P at 2850 and ~65 points from the all-time high.
.

I think it was a good move to hold rates. Too many bug storms lurking (China slowdown, Britain's Brexit, US consumer debt rising).

It us still amazing to me me to see rates this low for so many years.

[CunegoFan]

Originally Posted by Tony T

The Fed Gave Trump What He Wants, Carefully
"Rate hikes seem to be off the table.
Forecasts show that Fed officials broadly expect not to raise rates at all this year, with a single rate increase in 2020 and none in 2021"

S&P at 2850 and ~65 points from the all-time high.
.

Fed thinks the economy is too weak to absorb a rate hike?

[hokoman]

Originally Posted by CunegoFan

Fed thinks the economy is too weak to absorb a rate hike?

I don't know anyone who feels confident in the economy - I am one of those guys that has been saying the market would hit a snag three years ago. The NY real estate market has really pulled back in the last year - but it was a correction that was needed.

[echappist]

Originally Posted by Burnette

I think it was a good move to hold rates. Too many bug storms lurking (China slowdown, Britain's Brexit, US consumer debt rising).

It us still amazing to me me to see rates this low for so many years.

can't be good for those needing to live on fixed income...

and it would only get worse when the rates go up...

[Burnette]

Originally Posted by echappist

can't be good for those needing to live on fixed income...

and it would only get worse when the rates go up...

Ah, fixed income. Puts a little fear in the old heart doesn't it?

But yeah, low rates are good for some, bad for others. Winners and losers, same as it ever was.

Looking back, it was crazy. Could you imagine an 11% mortgage rate in rate in today's world? Or high rate car loans? Even the hint of a small increase today causes the market to recoil. And with good reason. Without these low rates the economy would crater.

[Tony T]

Originally Posted by CunegoFan

Fed thinks the economy is too weak to absorb a rate hike?

Yes, and the Market soars! (except for financials)

[CunegoFan]

Originally Posted by Tony T

Yes, and the Market soars! (except for financials)

“The line separating investment and speculation, which is never bright and clear, becomes blurred still further when most market participants have recently enjoyed triumphs. Nothing sedates rationality like large doses of effortless money. After a heady experience of that kind, normally sensible people drift into behavior akin to that of Cinderella at the ball. They know that overstaying the festivities that is, continuing to speculate in companies that have gigantic valuations relative to the cash they are likely to generate in the future will eventually bring on pumpkins and mice. But they nevertheless hate to miss a single minute of what is one helluva party. Therefore, the giddy participants all plan to leave just seconds before midnight. There’s a problem, though: They are dancing in a room in which the clocks have no hands.” -- Warren Buffett

The hangover from all this free money will be a doozy.