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(LA Times)   Dow down 666 points. Trump's boss gives him a smile   ( latimes.com) divider line
    More: Fail, Stock market, Money, 10-year Treasury note, underlying corporate earnings, Stock market bubble, Corporate tax, Finance, Inflation  
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724 clicks; posted to Business » on 02 Feb 2018 at 7:59 PM (23 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



41 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest
 
2018-02-02 04:27:38 PM  
img.fark.netView Full Size
 
2018-02-02 04:30:11 PM  
Just wait til its up by 1488

/or 69, 420, or even 13
 
2018-02-02 04:31:34 PM  
Apropos.
 
2018-02-02 04:34:14 PM  
img.fark.netView Full Size

Oh man, I literally just posted this in the memo thread...
 
2018-02-02 05:16:31 PM  
And while much of the gains made by the Dow correspond to weakening of the dollar (25%) today's drop in the dow didn't improve the strength of the dollar. Monday will be fun.
 
2018-02-02 05:25:35 PM  
Looks like the Obama depression has begun.
 
2018-02-02 07:28:08 PM  
img.fark.netView Full Size
 
2018-02-02 08:13:43 PM  
665.75 != 666
 
2018-02-02 08:13:54 PM  
Ayup...looks like the bubble is going to pop
 
2018-02-02 08:16:06 PM  

TheSwizz: 665.75 != 666


Yeah, just like a lot of writers don't like using 13, a lot don't like using 666 and will round off. Back a million years ago there was a Pentium II processor that ran at 666 Mhz. Guess what they called it....a 667. Rounding to 666 is accurate in this case.


//Christ that seemed so fast
 
2018-02-02 08:16:54 PM  
Dow's 666-point plunge looks bad, but the economy's fundamentals are still strong
Demonstrating once again the the stock market and the economy are not the same thing.
 
2018-02-02 08:27:56 PM  
With all those newly minted thousandaires out there itching to spend their one-time PR tax cut bonuses we should recover from this with ease.  We'll be up 777 points by Monday from all the Middle Class exuberance.
 
2018-02-02 08:34:06 PM  
Ha-ha, it's funny because evil rules the world and Armeggedon is so very close.
 
2018-02-02 08:55:42 PM  

wademh: And while much of the gains made by the Dow correspond to weakening of the dollar (25%) today's drop in the dow didn't improve the strength of the dollar. Monday will be fun.


A cursory Google search suggests the dollar strengthened by 0.5-1% today. So a portion of the drop is accounted for that way.
 
2018-02-02 09:01:17 PM  

TheSwizz: 665.75 != 666


Evangelicals always round off to Biblically correct integers.

Don't ask them about π. You'll hate it.
 
2018-02-02 09:04:03 PM  

wademh: And while much of the gains made by the Dow correspond to weakening of the dollar (25%) today's drop in the dow didn't improve the strength of the dollar. Monday will be fun.


Canadian dollar dropped a full cent against the American. So yea, kinda did, Biggest Trading Partner.
 
2018-02-02 09:06:10 PM  

AstroJesus: Ha-ha, it's funny because evil rules the world and Armeggedon is so very close.


https://en.wiktionary.org/wiki/ha_ha_​o​nly_serious
 
2018-02-02 09:10:42 PM  
It was announced that wages had finally gone up * and the Dow plunges.. Funny how that works.
*Most of the wage growth was due to the minimum going up in 18 states.
 
2018-02-02 09:31:17 PM  

AstroJesus: Armeggedon is so very close


emanuellevy.comView Full Size
 
2018-02-02 09:45:25 PM  

cretinbob: TheSwizz: 665.75 != 666

Yeah, just like a lot of writers don't like using 13, a lot don't like using 666 and will round off. Back a million years ago there was a Pentium II processor that ran at 666 Mhz. Guess what they called it....a 667. Rounding to 666 is accurate in this case.


//Christ that seemed so fast


My first Pentium computer was a 155MHz machine which had 64mb of memory. It had a 32x CD burner and a 8 gigabyte hard drive. It was an upgrade from my 486 which was barely an upgrade from my Atari 1040ST. I still used my Atari for all my MIDI work because the timing was less wonky on a non-multitasking OS than it was on my Pentium machine but for the first time in my life I was able to do some decent digital audio work on a PC.

I was reminiscing about the old computer animated series ReBoot the other day. Started by looking at the animation and spotting all the short cuts they took to try and cut down render times and how poorly kludged together some of the models were. All this done because of the limitations of the super computers they were using to render the show, and it amused me that an episode which would have taken them weeks to render back then would be able to be rendered in real time on my laptop at higher quality. But then I started thinking about the specs of "Mainframe" itself and realized the series was probably taking place on a computer not much different than my first Pentium and that the series cliff-hanger of Megabyte finally winning and "infecting" Mainframe meant that given the time frame of the show probably just resulted in the computer being tossed in the trash (show started 1994 and ended in 2001) because the Mainframe would have already been obsolete and not worth saving.

From Megabyte's perspective it "yes, finally I rule this system. Let the hunt begin!"

From the user's perspective it was "Ugh! This 7 year old piece of shirt computer has finally become completely useless. Time to trash it and upgrade."
 
2018-02-02 10:22:28 PM  

itcamefromschenectady: wademh: And while much of the gains made by the Dow correspond to weakening of the dollar (25%) today's drop in the dow didn't improve the strength of the dollar. Monday will be fun.

A cursory Google search suggests the dollar strengthened by 0.5-1% today. So a portion of the drop is accounted for that way.


img.fark.netView Full Size
 
2018-02-02 10:29:56 PM  

Markoff_Cheney: [img.fark.net image 640x360]
Oh man, I literally just posted this in the memo thread...


LOL!!!!

And that's exactly what I thought of when I read this headline. :D

*fistbump* 

/still not sure if I should be laughing or praying
//the closer Mueller gets, the more likely a nuclear war?
 
2018-02-02 10:54:28 PM  

wademh: itcamefromschenectady: wademh: And while much of the gains made by the Dow correspond to weakening of the dollar (25%) today's drop in the dow didn't improve the strength of the dollar. Monday will be fun.

A cursory Google search suggests the dollar strengthened by 0.5-1% today. So a portion of the drop is accounted for that way.

[img.fark.net image 850x341]


Okaaaaay... Are you aware that:

1) Currencies continue to trade after the US market closes and your chart seems to reflect the dollar falling back a little tonight, and;
2) There are other currencies besides the Euro?

I agree Monday will be interesting, but I don't have a prediction.
 
2018-02-02 11:11:28 PM  

Catlenfell: It was announced that wages had finally gone up * and the Dow plunges.. Funny how that works.
*Most of the wage growth was due to the minimum going up in 18 states.


Yeah, who would have thought that what you are buying with stock is a share of what's left over after expenses, expenses which include wages.

In the last 70 years since WWII, the economy has averaged around a 3.2% growth rate. Everybody knows the stock market has done much, much better. This cannot be sustained, because it requires capital to get a larger and larger share of the pie. At some point, stock market returns have to converge to the rate at which wealth is growing, regardless of whether or how workers revolt.
 
2018-02-02 11:19:46 PM  

Ghastly: My first Pentium computer was a 155MHz machine which had 64mb of memory.


The first computer I used was technically a dual-core but it was asymmetric. It had both a 68000 and a Z80 chip. It also had dual 8-inch floppies.
 
2018-02-02 11:20:20 PM  

Peki: Markoff_Cheney: [img.fark.net image 640x360]
Oh man, I literally just posted this in the memo thread...

LOL!!!!

And that's exactly what I thought of when I read this headline. :D

*fistbump* 

/still not sure if I should be laughing or praying
//the closer Mueller gets, the more likely a nuclear war?


I was just old enough to be completely freaked out by the nuclear threat in '80 - '82 without the wisdom to know it was really all just brinkmanship, and mostly just Ronnie.  Coming up in a hurry on forty years later with the accompanying accumulated wisdom and or some solid hindsight, Donny and Lil Kim scare the fark out of me and mostly just Donnie.. Saw stories today that the Pentagon won't give Donnie a first strike option for Best Korea for fear he'll actually use it (!) totally ignoring the Chinese and Russian retaliation threats for a US first strike. Now is the time to actually be afraid. The Generals can't hold him off for ever, and the tighter the noose from the investigations, the bigger and more irrational Donnie's distraction outburst will be.
A US first strike on North Korea will lead to a near extinction level series of events. Unless China is bluffing on the retaliation. Putin would be all over enhancing the resulting chaos so no bluff there. Sleep tight.
 
2018-02-03 12:02:32 AM  

cretinbob: Yeah, just like a lot of writers don't like using 13, a lot don't like using 666 and will round off. Back a million years ago there was a Pentium II processor that ran at 666 Mhz. Guess what they called it....a 667.


I can't be bothered to look it up but I'd guess that the frequency was rounded up from 666.66... MHz.

itcamefromschenectady: The first computer I used was technically a dual-core but it was asymmetric. It had both a 68000 and a Z80 chip. It also had dual 8-inch floppies.


The Commodore 128 had a 6502-family chip and a Z80, although only one could be active at a time. I had one with dual 5.25" floppies.
 
2018-02-03 12:12:21 AM  

sno man: wademh: And while much of the gains made by the Dow correspond to weakening of the dollar (25%) today's drop in the dow didn't improve the strength of the dollar. Monday will be fun.

Canadian dollar dropped a full cent against the American. So yea, kinda did, Biggest Trading Partner.


'course that mostly happened after Trudeau was talking tough on NAFTA. That Canada will actually walk away from a bad deal if we can't get a good one. In a world of Trump's my way or the highway, that's some bold talk. Which he wouldn't do without a plan B and a plan C... Canada already has a new deal with the EU, and another with most of asia... I'm thinking there is a deal in the works with individual states, 38 of which do most of their foreign business with Canada.
 
2018-02-03 12:21:03 AM  

itcamefromschenectady: A cursory Google search suggests the dollar strengthened by 0.5-1% today


Higher interest rates will do that.

Any idiot with a basic understanding of macro-economics  knows what would happen once you started pumping liquidity into an already tightening economy: Interest rates are going to go up on fears of inflationary pressure. All those thousandaires are going pay that money back and more in form of higher borrowing costs on any variable interest loan or credit card. Welcome to the start of the Trump recession. Fark, these idiots never freaking learn.
 
2018-02-03 12:53:33 AM  

Ivo Shandor: cretinbob: Yeah, just like a lot of writers don't like using 13, a lot don't like using 666 and will round off. Back a million years ago there was a Pentium II processor that ran at 666 Mhz. Guess what they called it....a 667.

I can't be bothered to look it up but I'd guess that the frequency was rounded up from 666.66... MHz.

itcamefromschenectady: The first computer I used was technically a dual-core but it was asymmetric. It had both a 68000 and a Z80 chip. It also had dual 8-inch floppies.

The Commodore 128 had a 6502-family chip and a Z80, although only one could be active at a time. I had one with dual 5.25" floppies.


stumbled upon this the other day. As a hardware EE, I watched the whole thing.

Reverse Engineering the MOS 6502 CPU
Youtube 4NZlrrAOxRU
 
2018-02-03 03:09:09 AM  

Harry_Seldon: Welcome to the start of the Trump recession. Fark, these idiots never freaking learn.


Oh, I think it is very uncertain what will happen next. Remember, Yellen is on her way out in favor of Trump's guy. If Trump were intelligent and rational about his self-interest, he would probably try to make sure the Fed stops raising interest rates, and hope inflation remains low. He could always do his patented denial-of-reality shtick if inflation ticks up. But maybe he will just let his appointee go on raising rates until things explode, either because he is inept at controlling him, or because he doesn't even understand the issue.

What I am sure of, is that in the past, we've repeatedly seen the Fed raise interest rates until there is a crisis. It's not clear to anybody how far is too far, and they themselves admit they don't understand why inflation has remained low even though controlling it is their whole job. It's like a driver saying the steering wheel and brake pedal don't seem to be affecting the speed of the car, so after trying to speed up for a while, we're going to push on the brake a while to see what happens. It could be we're stopped, or it could be they're blind and we're hurtling in a random direction.
 
2018-02-03 07:54:09 AM  

TheSwizz: 665.75 != 666


Don't be that guy ruining the joke.
 
2018-02-03 08:00:04 AM  

sno man: Saw stories today that the Pentagon won't give Donnie a first strike option for Best Korea for fear he'll actually use it (!) totally ignoring the Chinese and Russian retaliation threats for a US first strike. Now is the time to actually be afraid. The Generals can't hold him off for ever, and the tighter the noose from the investigations, the bigger and more irrational Donnie's distraction outburst will be.


At that point I would hope there are enough reasonable people around to have him declared mentally incompetent. It would suck on a very big level, but it would suck a helluva lot less than a nuclear strike in any direction. 

I actually do sleep okay. I've done enough research to know how my family can survive a nuclear strike at any nearby targets (most likely Long Beach, but Edward AFB isn't off the table either). The sucky part is that I have to keep tabs on the wind. But we'd be okay at least initially. I dunno what the world would look like after that though. 

Also, how nice to prove the rule that Republican administrations cause recessions. My generation already lost a lot of time to the 2008 shenanigans. I don't think we're keen on round 2.
 
2018-02-03 08:02:31 AM  
I work at a printer/publisher, and I shiat you not, someone signed up for RNC stuff under the name Lucifer Morningstar. I only noticed because the machine ate the envelope. While I had to keep the envelope because there was postage affixed, I kept the "Please support us" insert showing the name.
 
2018-02-03 10:22:11 AM  
So let me get this straight,

We have a stronger jobs report and the employment market is tightening up...and suddenly this is a bad thing?
 
Azz [TotalFark]
2018-02-03 11:31:33 AM  

hotrod2001: So let me get this straight,

We have a stronger jobs report and the employment market is tightening up...and suddenly this is a bad thing?


There were numerous times during the Obama years where market reacted the opposite of what the job report said. It has even been known to go up on a terrible report.

Market is irrational. This may be more than just jobs though. Big fish taking profit probably.
 
2018-02-03 12:14:54 PM  

47 is the new 42: TheSwizz: 665.75 != 666

Don't be that guy ruining the joke.


perhaps you should have said that 665.75 is the new 666
 
2018-02-03 09:21:09 PM  
The market's been due for correction like a Bitcoin baby that just spit out its Cheerios.  I'm sure somebody will find a way to blame this on Drumpf.
 
2018-02-03 10:59:57 PM  

Old Smokie: The market's been due for correction like a Bitcoin baby that just spit out its Cheerios.  I'm sure somebody will find a way to blame this on Drumpf.


Donnie wants to pretend it's all him when it goes up. It's all him when it goes down too.
 
2018-02-03 11:40:06 PM  

sno man: Old Smokie: The market's been due for correction like a Bitcoin baby that just spit out its Cheerios.  I'm sure somebody will find a way to blame this on Drumpf.

Donnie wants to pretend it's all him when it goes up. It's all him when it goes down too.


Also true.
 
Azz [TotalFark]
2018-02-04 03:22:06 AM  

Old Smokie: sno man: Old Smokie: The market's been due for correction like a Bitcoin baby that just spit out its Cheerios.  I'm sure somebody will find a way to blame this on Drumpf.

Donnie wants to pretend it's all him when it goes up. It's all him when it goes down too.

Also true.


I think that you can't truly pin the market performance on any president. It's bigger than any them.

DOW nearly tripled under O. It doesn't make it his accomplishment because 1) the stock market isn't the economy and 2) most americans never see a dime of those profits either directly or indirectly. And I say this as a "libtard".

It's mostly about optics.
 
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