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(CNBC)   Wall Street terrified that their bet to make money by tanking the economy hasn't worked yet   (cnbc.com) divider line
    More: Dumbass, Dow Jones Industrial Average, unemployment rate, Levi Strauss shares, Dow Jones & Company, Stock market, best week, Goldman Sachs, September's jobs report  
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2051 clicks; posted to Politics » on 07 Oct 2022 at 5:28 PM (8 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



47 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-10-07 9:45:50 AM  
DOW 10,000 here we come!
 
2022-10-07 2:31:02 PM  
The middle/lower class already had its recession when the rich tossed them $1k in pocket change a couple of times, evicted them, and jacked up prices, all while the rich got interest-free, 2-year loans to pocket, issue buybacks, and gobble up our houses.  The poors can't be pushed lower without risking competition from abroad, so hurting the economy will largely only hurt the rich.

Now all that's left is to sit back and let trickle-down economics prove itself wrong. As we've seen, they'd rather take the whole system down than ever admit empowered labor empowers the economy, so fine. Get some good deals for when they come back tuck-tailed and a few billion poorer.
 
2022-10-07 5:32:27 PM  
Unemployment is going to continue to drop as more people re-enter the workforce and are able to find jobs. Inflation has caused people who left the workforce to need to return, such as a spouse returning to work instead of staying at home. Job openings will have to decline greatly before unemployment goes up substantially.
 
2022-10-07 5:34:27 PM  
Remind me how much the New York Rich People's Feelings Index dropped when Trump gave them a fat COVID handout?
 
2022-10-07 5:35:35 PM  
We're in the middle of a market crash. The last few rallies are what's called dead cat bounces and are expected during periods of extreme downturn. This shiat is only going to get worse.
i.insider.comView Full Size


/If you don't know who Michael Burry is you should really watch The Big Short.
 
2022-10-07 5:37:37 PM  
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I'd adjust that to $3000/month, or possibly even $4000/month.
 
2022-10-07 5:38:04 PM  

red230: We're in the middle of a market crash. The last few rallies are what's called dead cat bounces and are expected during periods of extreme downturn. This shiat is only going to get worse.
[i.insider.com image 850x642]

/If you don't know who Michael Burry is you should really watch The Big Short.


That's a hell of a metaphor. Is it like, a dead cat rolling down a hill? That's the stock market?
 
2022-10-07 5:38:44 PM  

The Ocho: Unemployment is going to continue to drop as more people re-enter the workforce and are able to find jobs. Inflation has caused people who left the workforce to need to return, such as a spouse returning to work instead of staying at home. Job openings will have to decline greatly before unemployment goes up substantially.


and it should be noted: people re-entering the workforce who had left add more people ot the U3 count. the fact that the U3 keeps going down despite people reentering is a sure sign of a labor shortage.

power to the people.  eat the farking rich.
 
2022-10-07 5:42:38 PM  

Bith Set Me Up: [Fark user image 850x324]

I'd adjust that to $3000/month, or possibly even $4000/month.


Can't do that, we don't have them money! Billionaires have only... Increased their wealth collectively by six trillion dollars since the pandemic started!
 
2022-10-07 5:49:16 PM  
The greedy farks broke the system so badly that it isn't even working for them anymore.
 
2022-10-07 5:51:42 PM  
Company wide email: "We've had another awesome year and it's all thanks to YOU!"
Me: "Great. Can I have a raise?"
Company: "Oh, we can't afford THAT."
 
2022-10-07 5:53:53 PM  

NewportBarGuy: DOW 10,000 here we come!


Doubtful, but if Wall Street really wants to help with inflation they can start by slashing CEO pay.
 
2022-10-07 5:56:59 PM  

red230: We're in the middle of a market crash. The last few rallies are what's called dead cat bounces and are expected during periods of extreme downturn. This shiat is only going to get worse.
[i.insider.com image 850x642]

/If you don't know who Michael Burry is you should really watch The Big Short.


Put down the cocaine, sir.

There is no such thing as a one day rally. It's going to get worse in real prices for consumers.
It's going to get worse for companies who absolutely have no cash on hand.
It's going to get worse for stock holders who will see large swaths of their portfolio devalued 20-30%.
That's about it.

People have already priced in the down turn on daily life, because the only surprising thing is how strong the job market is.

PS Just spent 300 dollars in meat at the supermarket. So I can last through the winter with jacked up prices.
 
2022-10-07 5:58:42 PM  
preview.redd.itView Full Size
 
2022-10-07 5:59:16 PM  

red230: We're in the middle of a market crash. The last few rallies are what's called dead cat bounces and are expected during periods of extreme downturn. This shiat is only going to get worse.
[i.insider.com image 850x642]

/If you don't know who Michael Burry is you should really watch The Big Short.


What dead cat bounces look like from a year ago to today. How many can you count? I see 3 since the peak. It's like a slinking going down the stairs.

Fark user imageView Full Size
 
2022-10-07 6:00:30 PM  
Fark user imageView Full Size
 
2022-10-07 6:04:02 PM  
How do I know the entire thing is rigged? Because lower unemployment is "bad".
 
2022-10-07 6:05:26 PM  

Puglio: red230: We're in the middle of a market crash. The last few rallies are what's called dead cat bounces and are expected during periods of extreme downturn. This shiat is only going to get worse.
[i.insider.com image 850x642]

/If you don't know who Michael Burry is you should really watch The Big Short.

That's a hell of a metaphor. Is it like, a dead cat rolling down a hill? That's the stock market?


encrypted-tbn0.gstatic.comView Full Size

encrypted-tbn0.gstatic.comView Full Size
 
2022-10-07 6:05:39 PM  

red230: We're in the middle of a market crash. The last few rallies are what's called dead cat bounces and are expected during periods of extreme downturn. This shiat is only going to get worse.
[i.insider.com image 850x642]

/If you don't know who Michael Burry is you should really watch The Big Short.


Good. Fark Boomers. Their retirement gets farked while I get to buy stocks at decreased prices.
 
2022-10-07 6:09:39 PM  
A couple times a month, a huge amount of American workers have a chunk of money that is set aside for their IRAs, 401(k)s, and 403(b)s.  That money's gotta go somewhere, and most of it ends up feeding the stock market, so just chill.
 
2022-10-07 6:16:02 PM  

Blahbbs: A couple times a month, a huge amount of American workers have a chunk of money that is set aside for their IRAs, 401(k)s, and 403(b)s.  That money's gotta go somewhere, and most of it ends up feeding the stock market, so just chill.


Saudi Arabia has this thing called a sovereign wealth fund.

Saudi Arabia Is The Stock Market
Youtube kByui6EU2Vw
 
2022-10-07 6:18:19 PM  

LL316: red230: We're in the middle of a market crash. The last few rallies are what's called dead cat bounces and are expected during periods of extreme downturn. This shiat is only going to get worse.
[i.insider.com image 850x642]

/If you don't know who Michael Burry is you should really watch The Big Short.

Good. Fark Boomers. Their retirement gets farked while I get to buy stocks at decreased prices.


When the market recovers the 401k retirements recover, too. If they don't liquidate and hold, your success is their success. The only difference is you get to buy stocks at a discount.

The hardest part of investing is to not panic sell, so never invest money you need ... but "money you don't need" is a fairy tale one creates through proper budgeting, and you better believe in budgeting like it's a religion.

Technically though, you need all of your money.
 
2022-10-07 6:20:04 PM  
Some day I hope people will realize that Wall Street having some bad days can be good for them and their neighbors.

The market that holds your retirement account; is the same market depressing your wages.
 
2022-10-07 6:22:40 PM  
Businesses don't hire for the fun of it. That happens because they presumably can't supply their customers' demands with the workers on hand. How do you alleviate supply shortages without hiring workers to generate the supply?

Maybe Jerome Powell just needs to go on the air and just tell the country that they need to stop shopping, buy from sellers who keep their prices low and punish sellers who raise prices by leaving their goods on the shelf, and use money to pay down debt and increase cash savings. IMO it's likely that the only thing that's going to restabilize prices is an actual demand crash irrespective of whether people have jobs.

Normally that would be something Joe Biden would do, but telling Americans that they can't have as much as they want when they want it tends to be unpopular, because we just don't operate that way. So you can't have an elected official who wants to stay in office do that. Jimmy Carter tried it and look how that worked out for him.
 
2022-10-07 6:23:12 PM  
Fark user imageView Full Size
 
2022-10-07 6:28:52 PM  
"The conclusion many we have spoken with have reached is that not only will the Fed not help markets, but in their dogged pursuit of price stability keep going until something breaks in the capital markets," said Christopher Harvey, an equity analyst at Wells Fargo Securities. "What appears to be their increasingly singular focus - price stability - will likely help catalyze the dislocation."

If a quote had a punchable face, this is it.
 
2022-10-07 6:42:33 PM  

The Ocho: Unemployment is going to continue to drop as more people re-enter the workforce and are able to find jobs. Inflation has caused people who left the workforce to need to return, such as a spouse returning to work instead of staying at home. Job openings will have to decline greatly before unemployment goes up substantially.


Except more companies are laying off and out-sourcing. My friend's employer hasn't made the official announcement yet, but they're about to get rid of most of their contractors and send all the work over seas. Fark: they tried that about 10 years ago and it went horribly. Current management has apparently forgotten about that.
 
2022-10-07 6:46:56 PM  

red230: We're in the middle of a market crash. The last few rallies are what's called dead cat bounces and are expected during periods of extreme downturn. This shiat is only going to get worse.
[i.insider.com image 850x642]

/If you don't know who Michael Burry is you should really watch The Big Short.


I love that underrated move, and not because Margot Robbie was in a bathtub. That was just unexpected bonus.
 
2022-10-07 7:06:30 PM  

Puglio: red230: We're in the middle of a market crash. The last few rallies are what's called dead cat bounces and are expected during periods of extreme downturn. This shiat is only going to get worse.
[i.insider.com image 850x642]

/If you don't know who Michael Burry is you should really watch The Big Short.

That's a hell of a metaphor. Is it like, a dead cat rolling down a hill? That's the stock market?


It's an older term. Something along the lines of "A dead cat will bounce a couple times if you drop it from high enough."
 
2022-10-07 7:21:41 PM  
Time for a new season of BAILOUT!  Where the profits are privatized and the losses are socialized!
 
2022-10-07 7:25:09 PM  
Not to worry. Trickle down has a built in safety net for the trickled on.
 
2022-10-07 7:26:30 PM  

LL316: red230: We're in the middle of a market crash. The last few rallies are what's called dead cat bounces and are expected during periods of extreme downturn. This shiat is only going to get worse.
[i.insider.com image 850x642]

/If you don't know who Michael Burry is you should really watch The Big Short.

Good. Fark Boomers. Their retirement gets farked while I get to buy stocks at decreased prices.


This.  The boomers have been farking the world for decades.  And they have been going in dry.  Time for them to get run through.
 
2022-10-07 7:30:21 PM  
Doesn't it say something about the health of our supposedly "free market" system that stocks go down when unemployment is low because investors are pissed they're not going to get their next hit of free money from the Fed anytime soon?
 
2022-10-07 7:32:48 PM  

AmbassadorBooze: LL316: red230: We're in the middle of a market crash. The last few rallies are what's called dead cat bounces and are expected during periods of extreme downturn. This shiat is only going to get worse.
[i.insider.com image 850x642]

/If you don't know who Michael Burry is you should really watch The Big Short.

Good. Fark Boomers. Their retirement gets farked while I get to buy stocks at decreased prices.

This.  The boomers have been farking the world for decades.  And they have been going in dry.  Time for them to get run through.


Oh bite me.
 
2022-10-07 7:50:00 PM  
Remember how we were told over and over how we couldn't do anything to stop coronavirus because it would cause recession? Well now the Fed is trying to drive the economy over the recession cliff and you'll still have coronavirus.

*sad trombone*
 
2022-10-07 7:52:15 PM  

Kazan: The Ocho: Unemployment is going to continue to drop as more people re-enter the workforce and are able to find jobs. Inflation has caused people who left the workforce to need to return, such as a spouse returning to work instead of staying at home. Job openings will have to decline greatly before unemployment goes up substantially.

and it should be noted: people re-entering the workforce who had left add more people ot the U3 count. the fact that the U3 keeps going down despite people reentering is a sure sign of a labor shortage.

power to the people.  eat the farking rich.


There's no evidence that inflation is causing anyone to reenter the workforce.
 
2022-10-07 8:05:41 PM  
Am I the only one who suspects these shenanigans aren't about making money directly, but influencing the upcoming election?
 
2022-10-07 8:31:52 PM  

elaw: Am I the only one who suspects these shenanigans aren't about making money directly, but influencing the upcoming election?


They didn't get so much as a slap on the wrist after tanking the economy in 2008. Why wouldn't they try to pull the same shiat again?
 
2022-10-07 8:36:42 PM  

elaw: Am I the only one who suspects these shenanigans aren't about making money directly, but influencing the upcoming election?


i would say bingo
 
2022-10-07 9:20:05 PM  
This is exactly how they are making money.  Sell high now, take profits, tank stock, then buy back when price hits bottom.
 
2022-10-07 9:42:59 PM  

Puglio: red230: We're in the middle of a market crash. The last few rallies are what's called dead cat bounces and are expected during periods of extreme downturn. This shiat is only going to get worse.
[i.insider.com image 850x642]

/If you don't know who Michael Burry is you should really watch The Big Short.

That's a hell of a metaphor. Is it like, a dead cat rolling down a hill? That's the stock market?


There's a saying that "even a dead cat will bounce if you drop it hard enough."
 
2022-10-07 9:46:03 PM  

Wine Sipping Elitist: red230: We're in the middle of a market crash. The last few rallies are what's called dead cat bounces and are expected during periods of extreme downturn. This shiat is only going to get worse.
[i.insider.com image 850x642]

/If you don't know who Michael Burry is you should really watch The Big Short.

What dead cat bounces look like from a year ago to today. How many can you count? I see 3 since the peak. It's like a slinking going down the stairs.

[Fark user image image 425x513]


Nice 1 year graph...now lets look at 10 years....gee, if we assume y = constant times x....almost looks like we are returning to normal after some strange shake ups in past 3 years...weird.  nah, lets just keep looking at one year and saying it is obviously a recession most be totes it. the rest of us going "this is different because the economy has some whacky variables in play" are wrong
Fark user imageView Full Size


/ not saying it aint a recession, but we still have shipping issues sorting out; we have a war in europe; employment; politics; and right now indexes are really just returning to what they should have been if we extrapolate a steady line. and the market != economy
// but next few years are gonna be different. employees arent there; labor market is tight
/// three slashies because this is the way
 
2022-10-07 9:50:54 PM  
Oh, look, the bankers are robbing everyone blind again for the fourth time in my adult life.
 
2022-10-07 11:20:53 PM  

Dictatorial_Flair: Oh, look, the bankers are robbing everyone blind again for the fourth time in my adult life.


They're mad because there is no easy cash to steal anymore. They have to go out there and actually earn it instead of hold their hand out for the government to give it to them.
 
2022-10-08 1:04:31 AM  
I guess "get a job" has always been a bluff.
 
2022-10-08 3:27:04 AM  

leeksfromchichis: Puglio: red230: We're in the middle of a market crash. The last few rallies are what's called dead cat bounces and are expected during periods of extreme downturn. This shiat is only going to get worse.
[i.insider.com image 850x642]

/If you don't know who Michael Burry is you should really watch The Big Short.

That's a hell of a metaphor. Is it like, a dead cat rolling down a hill? That's the stock market?

[encrypted-tbn0.gstatic.com image 500x358]
[encrypted-tbn0.gstatic.com image 647x474]


I had that book about 40-50 years ago.

/ i only read the classics
 
2022-10-08 8:23:36 AM  
hasn't worked yet

How so?  That and the big oil money grab are the only reason the November elections are close.  No coincidence involved.
 
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