Gene Frenkle Posted July 26, 2022 Posted July 26, 2022 2 hours ago, leh-nerd skin-erd said: You’re not far off here Frenkle. I’d suggest Washington, especially establishment insiders, are an extension of Wall Street—sort of an administrative branch office. Somebody has to pull the strings to keep things popping. In that regard, left v right matters with respect to making choices on those that hurt you less. Not if they all consistantly pull the same strings, regardless of party affiliation. Left vs right is a distraction. Look! A squirrel!
leh-nerd skin-erd Posted July 26, 2022 Posted July 26, 2022 52 minutes ago, Gene Frenkle said: Not if they all consistantly pull the same strings, regardless of party affiliation. Left vs right is a distraction. Look! A squirrel! A lower tax rate for me is a lower tax rate for me. A higher tax rate for me is a higher tax rate for me. A politician opposing same sex marriage certainty lacks appeal to people that impacts, while a politician in favor of same sex marriage will lack appeal with others. I figure all I that can control is that which I have power over. The rest I try not to worry about, unsuccessfully at times it would seem. But yeah, big picture? I always chuckle when I hear people talking about tax cuts for the rich, and fair share. Then of course, you look into how THEY get paid at times, establishing corporations, foundations and the like to significantly reduce tax burden while getting incredibly wealthy. 1
B-Man Posted July 27, 2022 Posted July 27, 2022 PRODUCTION IS DOWN, RESERVES ARE DOWN — WHAT COULD POSSIBLY GO WRONG? Biden Administration to Sell 20 Million More Barrels of Oil From Strategic Petroleum Reserve. https://www.reuters.com/business/energy/us-sell-additional-20-million-barrels-oil-strategic-reserve-2022-07-26/ .
Gene Frenkle Posted July 28, 2022 Posted July 28, 2022 And...the market gets propped up again after an interest rate hike. Unreal.
Gene Frenkle Posted July 28, 2022 Posted July 28, 2022 GDP numbers out tomorrow. Prolly gonna be bad. Expect the inflated market to rally. /s Just now, 716er said: What is STAGLFATION? You're about to find out.
SoCal Deek Posted July 28, 2022 Posted July 28, 2022 10 hours ago, Gene Frenkle said: And...the market gets propped up again after an interest rate hike. Unreal. Huh? I believe the principle at work here is that 'the market' doesn't like uncertainty, so when the Fed raises (or lowers) interest rates it makes it more clear for investors, and companies, to plan business strategies for the months ahead. Raising interest rates doesn't necessarily mean that companies' stocks are going to tank. The market's forecast the future for investors. It's not a report of past or present.
Big Blitz Posted July 28, 2022 Author Posted July 28, 2022 Nice job Covidiots! This is 10 years of chaos.
ALF Posted July 28, 2022 Posted July 28, 2022 Recession normally means high unemployment . Covid caused record high retirements . Stagflation is typically marked by slow economic growth combined with relatively high unemployment and rising prices Fed raises policy rate to 2.25%-2.50% range July 27 The Federal Reserve board led by Volcker raised the federal funds rate, which had averaged 11.2% in 1979, to a peak of 20% in June 1981 The inflation rate actually was declining by December 1981, after peaking at 14.8% in 1980. Covid , retirements and unfocused stimulus created a different economic problem then the past. 1
SoCal Deek Posted July 28, 2022 Posted July 28, 2022 24 minutes ago, ALF said: Recession normally means high unemployment . Covid caused record high retirements . Stagflation is typically marked by slow economic growth combined with relatively high unemployment and rising prices Fed raises policy rate to 2.25%-2.50% range July 27 The Federal Reserve board led by Volcker raised the federal funds rate, which had averaged 11.2% in 1979, to a peak of 20% in June 1981 The inflation rate actually was declining by December 1981, after peaking at 14.8% in 1980. Covid , retirements and unfocused stimulus created a different economic problem then the past. Recession means what recession means.
ALF Posted July 28, 2022 Posted July 28, 2022 6 minutes ago, SoCal Deek said: Recession means what recession means. "a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters."
B-Man Posted July 28, 2022 Posted July 28, 2022 GDP fell 0.9% in the second quarter, the second straight decline and a strong recession signal. It’s not just a recession “signal,” it’s the actual definition of a recession, which everyone agreed on until this month when the Biden spinmeisters tried to change it. https://www.cnbc.com/2022/07/28/gdp-q2-.html .
dpberr Posted July 28, 2022 Posted July 28, 2022 America should be concerned their leaders have spent more time trying to redefine recession and shouting down all talk of a recession vs. strategizing on what to do about it and get ahead of it a little. Recession was inevitable - we were all talking about it on this board last year. The frightening thing is that this administration is ill-equipped to do timely, practical, smart things. 2 1
Tenhigh Posted July 28, 2022 Posted July 28, 2022 On 7/25/2022 at 5:00 PM, Gene Frenkle said: If you're watching tickers, look at what SPY does nearly every day in the last half hour of regular trading. It will be down 1-3% and in the last half hour will rebound to get back to nearly even or even green. John Q. Public looks at the bottom line in the NYT and says "gee, the market is pretty flat today, nothing to worry about here!". It appears to me that it is being manipulated for our "soft landing". Can't crash too hard too fast. Many millions or billions of likely freshly-printed dollars are, imo, being used to make this happen. All of this because America cannot differentiate between politics and the stock market. Nobody wants to be the Prez who "let" the market crash. All the while, our money becomes more and more worthless as the Fed prints more and more. We're not paying attention and America is tricked into believing everything is fine. Make no mistake, this is Wall Street's mess. They get away with it because all of our elected officials trade on inside info with no repercussions. In fact, instead of jail time, they get millions in lobbying money from the Wall Street giants who literally write the rules to their advantage, "self-report" and generally do whatever the hell they want. This will never change so long as the lobbying remains as-is and elected officials are allowed to play the stock market and make millions of of both of these things. This happens with almost every official who has been in office long enough, regardless of party affiliation. The truly insane part is that changing this would require Congress to vote against their own economic greed and self-interest and everyone knows that only the Bible Belt does that sort of thing. It's not left vs. right we should be worried about. It's rich vs. poor. If you're not uber rich (multi, multi-millionaire at least), you're just cannon fodder to them. Believe it. Classic Frenkle.
B-Man Posted July 28, 2022 Posted July 28, 2022 Democrats propose raising taxes and spending a day before the country is officially in a recession https://twitchy.com/brettt-3136/2022/07/27/dems-propose-raising-taxes-and-spending-a-day-before-the-country-is-officially-in-a-recession/ . 1 1
Gene Frenkle Posted July 28, 2022 Posted July 28, 2022 3 hours ago, SoCal Deek said: Huh? I believe the principle at work here is that 'the market' doesn't like uncertainty, so when the Fed raises (or lowers) interest rates it makes it more clear for investors, and companies, to plan business strategies for the months ahead. Raising interest rates doesn't necessarily mean that companies' stocks are going to tank. The market's forecast the future for investors. It's not a report of past or present. Interest rate hikes, not to mention rampant inflation, should have an inverse effect on stock prices. The rational is that when interest rates for variable-rate consumer debt (credit cards, loans, mortgages) increase, and when cost of living outruns salary increases, consumers have less discretionary income. This results in retail investors buying fewer stocks and other securities (because they don't have the money), removing some upward pressure. Retail investors are likely have an unfavorable view of the market and economy in general right now, which makes them further unlikely to invest. Couple that with people having less to spend in the real world, so companies everywhere are predicted to have reduced future cash flow and growth. All of this, and the "recession that might not be a recession" should lead to a major correction in a grossly inflated market. You should be eating this up. My contention is that the government and the Federal Reserve are spending millions/billions propping up the major indexes until at least after the November elections. I think a major correction/crash must eventually happen and that Biden will likely be the one who let's it happen, especially considering he will not run again in 2024. The timing is the key here. The Fed talk about Quantitative Tightening, yet continues to buy up (believe it or not) Mortgage Backed Securities (see 2007-2008) and other securities and is actually increasing its asset holdings. In other words, they're saying one thing and doing the opposite.
Gene Frenkle Posted July 28, 2022 Posted July 28, 2022 1 hour ago, B-Man said: Democrats propose raising taxes and spending a day before the country is officially in a recession https://twitchy.com/brettt-3136/2022/07/27/dems-propose-raising-taxes-and-spending-a-day-before-the-country-is-officially-in-a-recession/ . Manchin the DINO.. lol Did you even read this? It imposes a 15% Corporate Minimum tax and closes a long-time, aggressively-lobbied tax loophole that fraudulently labels hedge fund manager income and bonuses as long-term capital gains instead of income (like the rest of us). The rest seems to come from increased IRS enforcement and drug companies who charge too much. I guess you must be concerned with where the money is going because you hate green things. There is a very near zero change that this will affect your taxes. If it does, you are either a corporation, a pharmaceutical company, a hedge fund manager, or someone the IRS is after.
ALF Posted July 28, 2022 Posted July 28, 2022 Part of Bill for Electric Vehicle tax credit Federal tax credits for electric and hydrogen-fueled vehicles will be set at $7,500 for new vehicles and $4,000 for used ones, with new income limits for buyers. The income cutoffs for receiving the credit for new vehicle purchases are $150,000 for individuals and $300,000 for married couples; for used vehicle purchases the cutoffs are $75,000 for individuals and $150,000 for married couples. The bill also eliminates the 200,000-unit phase-out of credits for manufacturers — a threshold Tesla and General Motors had already hit — a key concern for automakers and EV buyers. https://www.utilitydive.com/news/electric-vehicle-ev-credit-extension-Manchin-Schumer/628354/
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