Imminent Stock Market Dump

[SlugSlinger]

 

[HarryBear]

You're hired!
But they have people skills.

Off of Office Space movie for those who don't know...

 

[SlugSlinger]

 

[OK Corgi Rancher]

each and everyone of us is 242,986 dollars in debt nationally.

Bulls**t... I figure the US government owes me at least that much, probably more, for the money they forcibly took from me for 45 years. I don't owe the gov't s**t. Them sumbitches are gonna start paying me back in Jan... And I'm happy to say I don't pay federal taxes any more. Gotta be some perks to getting older. A lot of us have done our share, and a lot of us have done the shares of lots of others over the years, too.

 

[HarryBear]

I want a refund on all my taxes paid to other countries.

 

[HarryBear]

View attachment 286612

I don't know what this means.
Does it mean my $1 bill has the buying power of $108?
Please educate me.

 

[Duncandl]

There is a common theme I’ve been seeing/reading.
There will be major discounts from retailers due to excessive inventory purchased during the stimulus handouts. Now people don’t have descrionary funds, all the Chinese junk will go on sale.
China is currently shipping very little to the US. The ports are essentially empty. Once the current overbought inventory is sold there will be little to replace it on the store shelves. This will drive inflation higher.
Layoffs will ramp up late 3rd qtr and 4th qtr.

The dollar is going through the roof (as compared to other currencies) and that will cause other countries who borrowed dollars unable to pay those back.

There will be major world wide food shortages and more price increases. Look at Sri Lanka, 24 million people and no food or medicine because they are broke. Take the situation there and apply it to the rest of the world.

The economy will see a death spiral that will be near impossible to recover, in the short to mid term anyway. Currently, there is no light at the end of the tunnel, seriously, there is not one positive economic indicator or fundamental that shows any economic improvement. I’m not even thinking about getting back in the market at this point.

Oh, and there will likely be a world war because of the economic chaos that every country is going through and it’s all started with the year long economic shutdown.

Remember when EF Hutton talked earlier…this is who you don’t listen to, they have no dog in the fight so they claim. If you don’t invest, you must be in jest.

 

[Roy14]

I like how Jim Cramer said July 13th would be the big dip and start of a run through August. Personally, I think he makes those comments so his followers start buying the stocks he recommends and holds so he'll make more profit then dump when it's worse.

Don’t trust ole jimmy

 

[SlugSlinger]

I don't know what this means.
Does it mean my $1 bill has the buying power of $108?
Please educate me.

The value of the dollar as compared to world currencies. When it goes up like it is, it could kill other country's economies. Like I mentioned, other countries borrow in dollars. When the dollar goes up as compared to their home currency, paying back the dollars is much more expensive.



The ICE U.S. Dollar Index (USDX) futures contract is a leading benchmark for the international value of the US dollar and the world's most widely-recognized traded currency index. In a single transaction the USDX enables market participants to monitor moves in the value of the US dollar relative to a basket of world currencies, as well as hedge their portfolios against the risk of a move in the dollar. US Dollar Index futures are traded for 21 hours a day on the ICE platform.

 

[SlugSlinger]

Don’t trust ole jimmy

Don't trust anyone on msnbc, cnn, or other large media outlet. They all lie.
Following and understanding the economic fundamentals are key, not listening to the BS spewed on TV (or their online presence).