I have gone through my normal reading......and.....I got nothing. It is going to be a Seinfeld market today......a market based on NOTHING. There is ZERO news, that matters. Earlier this morning, on one of the TV business shows, I heard a guest talking about investors and the topic of 0.50 versus 0.75 rate increase by the FED in September. He was giving the view that the RALLY of the past 8 weeks was due to people thinking that the FED would do the lower rate increase in September. WHAT A BUNCH OF BALONEY. It has just been the last 2-3 days that this BS about 0.50% versus 0.75% rate increase has once again been the main topic in the financial.....GOSSIP.....media. This is just a ridiculous topic. Whether the FED does a 0.50 or 0.75 rate increase is just an irrelevant joke. It is not like either one is going to make any significant difference. The difference between the two and any impact it might have is......MINUSCULE to the point of being non-existent. It is just as ridiculously STUPID that the FED will not release a consistent and transparent schedule of rate increases for some time span....perhaps 3-6 months. It is simply MORONIC that anyone can think that the FED has to keep their rate increase amounts secret and flexible in order to respond to micro-economic changes in the economy from month to month. The FED has NO ability to control the economy....especially such fine-tuning. This sort of GOSSIP DRAMA that is constantly pushed now......has NOTHING to do with investing or the economy. It is a JOKE.
On the SAME topic.....looking at my usual daily market articles......what do I see? About half the article is on the changes in and news of the MEME stocks.......and......a few paragraphs about the Foot Locker earnings. That is ALL we have going on today. The ONLY issue today is......will we end up with another positive week by the close today. AND....I should not even call that an "issue". It is just a daily random event that will reflect the day-trading today and the low volume summer market.
The BEST NEWS I have today......it is RAINING here in Central Texas. We have been in a historic hot summer this year. This tends to happen about every 10 years. The last time was 2011. We REALLY need this rain.
Been watching a few history movies about WWI & II lately, and it only sharpens your perception of how FORTUNATE and WEALTHY we are today as opposed to back then. With all the hatered, division in societies today, coupled with explosive inflation talks in the media followed by a volatile market, one cannot simply do anything but LAUGH at it all when compared to the shit that went down in that dark chapter/s in history. Any analyst that even begins to compare the current market mood to the Great Depression should seriously has his/her journalistic privileges taken away from them. The only thing that drives the market up or down today is stupid societal trends and extremely wealthy individuals boredom with access cash. I don’t think that our world has ever been so comfortable and if we can only do so much as turn off the news we’d actually enjoy and appreciate it!
REALLY....Zukodany. The stuff that people obsess over today is INSANE. Of course MOST of the people obsessing over the day to day "stuff" tend to be the upper middle class and above....the relatively well to do. The rest of the population is too busy working and trying to provide for the future of their family.
One of my REITs did not increase the distribution in July, like they did the previous three years. This is more akin to being gassed at Auschwitz than the mild growth reduction of the 1930s.
Exactly Tom16. It’s sadly laughable. And WWII and all the atrocities that followed were actually the culmination of ego centrical political power plays and economic stresses on an atomic level compared to today. Germany and Russia alone had a half a century filled with political turmoil and economic distress on a daily basis. Massive inflation and currency declines. And it’s equally prevalent with today’s politics and culture. we have people tossing around the word Racist like it’s a bodily function, back then you didn’t have the luxury of name calling people/political groups by what they were. You either were racist and took pride of being one or you were “part of the problem”. Out of all the things that get “cancelled” today based on a disturbing past, how is Germany and Russia still around baffles the mind. And no. I’m not calling to cancel those countries, I’m just pointing out how stupid this whole cancel culture movement is.
Narrow perspectives can be brutally chaffing to those of us who have a long term perspective or even just the ability to think beyond the current moment. Something that surprises me is how many folks are surprised media streams include opinions which reveal a complete lack of perspective or context. Chinese banks are failing. Europe is running out of gas. North American deficit spending has been comical for a long time. Considering the global state, I would say we are doing better than we deserve and continue to be ripe for a correction. From what I can tell, nobody at Motley Fool is as sharp as a few of the folks I consider the better investors online. CNBC is a million monkeys with a million cameras. Bloomberg is incapable of understanding basic facts. ... and these are literally the best media resources. There are a few people here who far outstrip the absolute best media content, in terms of understanding dynamics of the economy and market dynamics. That's why I come to Stockaholics.net, instead of watch CNBC where Bob Lutz is still explaining that Tesla is dead, they just don't know it yet.
oh, man, this project is due tuesday, not monday like i thought, so i can slack off a few minutes. the housing market has leveled off in my area. prices being reduced. ups, amazon, fedex and other delivery trucks have practically disappeared. few months ago they were buzzing by my house nonstop. can we say recession boys and girls? edit: could there be a correlation between people returning to work and a reduction in home deliveries?
Agree with many of the above posts. Those were some tough people back then for sure. We end the week on a solid red day. We move on to next week. Hang in there everybody. It could be worse...as evidenced by the posts above regarding history. I am thankful for all that I have. We have it easy.
Why not Emmett. We have been in one now for about 3 months. Even if everyone....especially the politicians want to pretend it does not exist and play games.
The markets this week and especially today came under a coordinated attack from the fear mongers and probably traders that want to see a down market continue. The media attacks on the markets were relentless this week. So they were in the RED today. I was also in the RED today.....by a good, solid, medium amount. EVERY stock I hold was down today. On top of that.....the SP500 beat me today by 0.73%.
Today was one of those days when NOTHING was going on or in the news.....the markets were simply determined to go down. Here is how we ended yet another week as we march toward the FINAL FOUR......months of the year. DOW year to date (-7.24%) DOW for the week (-0.16%) SP500 year to date (-11.28%) SP500 for the week (-1.21%) NASDAQ 100 year to date (-18.86%) NASDAQ 100 for the week (-2.38%) NASDAQ year to date (-18.79%) NASDAQ for the week (--2.62%) RUSSELL year to date (-12.83%) RUSSELL for the week (-2.94%) Even though we had a number of GREEN days this week....it was a very skittish week for the markets. We are at least back to NORMAL....that being......volatile, erratic, days and weeks often for no good reason. That is how the short term works.....basically often IRRATIONAL.
i'm down about 8% from my january 2022 high. all long term stuff, so no worries here. however, i did stumble upon an options for dummies book in the library few days ago. been playing around with that in my trading account, which if i lost all of it tomorrow, the sun would still shine brightly on me.
Went to one of our long time restaurants today. They are struggling. Prices are high for what you get....the menu keeps getting smaller. Now they have a sign on each table to review the menu and order at the bar. They can not find anyone to work. The manager....only 37 years old.....was going on and on about the poor quality of the young workers today...how they have all spent their entire lives glued to a screen and dont want to work except for being a social media celebrity. Even at her young age....she sees a distinct difference with workers that are in their 20's and have grown up in the cell-phone/social-media era......from about 2000 till now. Imagine how bad it would be if ALL the baby boomers were now retired. Some times I think it is the people and workers between about ages 45 to 65....that are holding everything together. NOT a good indicator for what society will be in about 15-20 years......not that I really care. People can simply live in the world they create and deserve. What I do care about is if they bring down our free market economy. Good luck to all the people that no longer have a pension if our capitalistic system is skewered......and......there is little ability to grow your money through investing. Just like we have seen with the issues the economy is having recovering and reopening from the IDIOTIC shut-down......once we get a majority of people that are willing to totally screw up our long time business and economic system......we will probably NEVER be able to get it back.
regarding post 12056 one of my brothers and i had lunch together few days ago. when we left there were quite a few people waiting to be seated, however there were numerous open tables. bro said people don't want to work. i agree.
I am already seeing the beginning of what will be a TIDAL WAVE of media attention and fear mongering about the FED Jackson Hole meeting next week.
We routinely see that here Emmett. Lots of empty tables yet there is a 20-30 minute wait due to the staff shortage. We eat out EVERY DAY....and we see this every day. Even the fast food places are screwed up.......and having issues. There seems to be plenty of customers.......but very few workers. It is like aliens beamed up about 30% of the entire work force. This......and everything else that I see every day in the real world..... tells me that all the unemployment, jobs, labor participation, job openings, jobs created......data......that we see all the time is TOTALLY FAKE. There is something very wrong with the data that is being reported and what EVERYONE is seeing all over the country.
When the top news of the day is BBB...and it gets more air time than any of the solid companies that BEAT during earnings...it tells you all you need to know about these MORONS.
