Economic "Doom" Mega thread

Reptile

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What would we ever do without the Death Cross to tell us that stocks are going down
I don't know but Death Cross sounds way more important than that stupid Head and Shoulders chart!

I don't know what either one is!!!

I just like the name!

CRAP!!!

Somebody already owns that domain.
 

djbradles

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Glenn Beck was on the derivatives market today. $1.5Q out there (Q=Quadrillion) Most bets between investment houses and banks, and don’t forget the insurance on the bet not counted in the above.

With this and the fact The FED has been pumping into the overnight REPO market and it didn’t help, and that now banks need no cash in the vault (forget about that 10% fractional reserve system it’s now 0%)

I opted to make a run to ATM with my son, he drove (he just got his license so he can’t go get stuff like a typical kid at this point). I wiped the machine with a Clorox wipe, got my $500. I already had $5K in $100’s that I’ve had for a decade, got some $20’s with no human interaction.
I’ve culled several grand now and in no way shape or form do I put any “faith” in the US gov now.
 

Varmint

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Rumor has it people are pulling cash from European banks and buying dollars, because of possible elimination of paper Euro.

This is needed to drop interest rates further - nobody will put their money in the bank if the rate is -3%, they'll keep cash and gold. So Europe may ban cash and confiscate gold.

Let no crisis go to waste.
 

headednorth

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Rumor has it people are pulling cash from European banks and buying dollars, because of possible elimination of paper Euro.

This is needed to drop interest rates further - nobody will put their money in the bank if the rate is -3%, they'll keep cash and gold. So Europe may ban cash and confiscate gold.

Let no crisis go to waste.
So the dollar should be going up?


 

Reptile

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Varmint

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So the dollar should be going up?


Dollar has had a huge rally, despite the Fed's efforts, which is a problem really for overseas debt markets. I don't know how much of that is Euro sellers, or just fear, or something else, but it's a sign of how messed up the markets are right now.
 

Reptile

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ASHDUMP

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Rumor has it people are pulling cash from European banks and buying dollars, because of possible elimination of paper Euro.

This is needed to drop interest rates further - nobody will put their money in the bank if the rate is -3%, they'll keep cash and gold. So Europe may ban cash and confiscate gold.

Let no crisis go to waste.
When you say cash and gold do you actually mean holding cash under the mattress?

Or, is there some kind of holdings account that doesnt yeid anything and it just sits there....?
 

Varmint

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When you say cash and gold do you actually mean holding cash under the mattress?

Or, is there some kind of holdings account that doesnt yeid anything and it just sits there....?
paper cash yes. Because any money you put in any bank account will cost you 3% a year.

with an all digital currency they can take the 3% from your savings, there's no mattress for digital currency.
 

Varmint

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I don't buy the hyperinflation theory, people who lose their jobs aren't going on a spending spree just cause the Fed gives them $2000.
 

Varmint

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Another day, another Fed panic statement.


This won't do a thing, we don't need more loans, bring on the cash handouts!

The Fed can't legally buy stocks yet, but Congress will change that law when we're down 70%.
 

GM-GUY

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Hyperinflation in - 6 months to a year at the outside. This problem now is being predominantly driven by the economy shutting down, the foolishness of printing money and huge debts no one (outside of a few like Rand Paul and some others) care.

Once things open back up (and they will) and people get rehired. Bills will get caught up on, things will start getting bought (mostly using debt as the rates will still be low) and then it starts.

Hyperinflation is self feeding monster. Once it starts, you want to get out of dollars and into hard assets as soon as you can. This causes more demand, higher prices and less and less money in the banking system. The FED then must print and I mean PRINT to keep up with the demand,

We were in a box before, after this we are in a box covered with concrete.
 

Varmint

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Hyperinflation in - 6 months to a year at the outside. This problem now is being predominantly driven by the economy shutting down, the foolishness of printing money and huge debts no one (outside of a few like Rand Paul and some others) care.

Once things open back up (and they will) and people get rehired. Bills will get caught up on, things will start getting bought (mostly using debt as the rates will still be low) and then it starts.

Hyperinflation is self feeding monster. Once it starts, you want to get out of dollars and into hard assets as soon as you can. This causes more demand, higher prices and less and less money in the banking system. The FED then must print and I mean PRINT to keep up with the demand,

We were in a box before, after this we are in a box covered with concrete.
Then again oil is crashing with nobody driving or flying. This is deflationary. Also people and investors are hoarding cash, also deflationary.

maybe it adds up to stagflation like Peter Schiff's been predicting since the 14th Century?
 

Varmint

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It's the new math. $27 trillion stimulus? -24% GDP?

it's time to color up the chips, collect all the $100 bills and replace them with $5000 bills, so we can keep the gaming going.
 
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It's the new math. $27 trillion stimulus? -24% GDP?

it's time to color up the chips, collect all the $100 bills and replace them with $5000 bills, so we can keep the gaming going.
United States of New Zimbabwe.

Since we are being influenced by bad desicions, maybe, after the ecomomy is destroyed, we can then fix it by removing zeroes from the currency, like Venezuela did.

Does this mean I will be able to pay off my mortgage with one hour worth of work?

(Not serious).
 

GM-GUY

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Careful on that debt (mortgages). If the government can come in and modify in 2008 to ‘save people’, that can come in and ‘save the economy’ in 2020. No way this ends up as a wash, the people will get screwed.

*******on edit *******

Pelosi has her own bill, lots of giveaways and $10K in student loan forgiveness - Dem wish list really. $1.5T in new spending with no way to pay for it (maybe turn off ALL foreign aid and end muslim outreach at NASA for starters). The FED has $4T to start on market support with a NO LIMIT PROMISE.
 
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Why can’t we give a check to every american without including a bailout plan for corporation at the moment? Why do republicans always want to slip something in it.

Democrats want specific rules about which corporations gets bailout money, such a corporation can’t use the bailout money for stock buy back, cap for CEO bonus, and time frame for return bailout money to tax payers. Trump organization can’t not get special treatment above other corporations. All reasonable requirements. Let them!

Give the money to the people directly. Cut the middle man! Why republicans, why?

I am good just give each of us $1200 a month until this crisis goes away.
 

Junior314

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Why can’t we give a check to every american without including a bailout plan for corporation at the moment? Why do republicans always want to slip something in it.

Democrats want specific rules about which corporations gets bailout money, such a corporation can’t use the bailout money for stock buy back, cap for CEO bonus, and time frame for return bailout money to tax payers. Trump organization can’t not get special treatment above other corporations. All reasonable requirements. Let them!

Give the money to the people directly. Cut the middle man! Why republicans, why?

I am good just give each of us $1200 a month until this crisis goes away.
When the companies go belly up those employees lose their jobs. How far does a couple grand go when your out of work?

I’m not a fan of stimulus in general, airlines and Boeing etc. have zero excuse for not being able to weather hard times. They have reaped huge profits year over year and clearly had no contingency funds in place.

Only 40% of Americans have the ability to cover a $400 emergency expense. This country LOVES debt. That’s why we are arguing over how much everyone should get.
 

Varmint

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Why can’t we give a check to every american without including a bailout plan for corporation at the moment? Why do republicans always want to slip something in it.

Democrats want specific rules about which corporations gets bailout money, such a corporation can’t use the bailout money for stock buy back, cap for CEO bonus, and time frame for return bailout money to tax payers. Trump organization can’t not get special treatment above other corporations. All reasonable requirements. Let them!

Give the money to the people directly. Cut the middle man! Why republicans, why?

I am good just give each of us $1200 a month until this crisis goes away.
And Dems don't want doctors and nurses whose husbands work to get any of the $1200.

Can we just agree that both parties only care about the powerful special interest groups who fund their campaigns? Ok then.
 

number9

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And Dems don't want doctors and nurses whose husbands work to get any of the $1200.

Can we just agree that both parties only care about the powerful special interest groups who fund their campaigns? Ok then.
It's funny, I tend to either agree with your posts 100% or disagree 100%. There is rarely an in-between.

This one is agree 100% :D
 
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