2024 Economic Collapse

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Is it Joever?

  • It's Joever

    Votes: 87 16.1%

  • We're just getting joeing

    Votes: 254 46.9%

  • Kill yourself furfag

    Votes: 201 37.1%
  • Total voters
    542
HTTP Error 404 said:
What's the state of play at the end of Monday? Did things rally? Did they stem the bleeding? Or are we still seeing things in freefall?
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We're this deep in red because we keep getting black swan events nose-diving the little canoes that are our livelihoods. I'm pretty sure they want to stall out full recession red numbers until the election ends, so MAYBE Mr. Inflation-is-Transitory will pull some bullshit pump to taper off the downtrend unless we get another black swan divebombing our sinking boat.

That, or he just tells everybody to go fuck themselves, and next FOMC goes redder than Stalingrad.
 
HTTP Error 404 said:
What's the state of play at the end of Monday? Did things rally? Did they stem the bleeding? Or are we still seeing things in freefall?
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My wife works in the mortgage industry and she had one of the busiest days of the year from people wanting to buy a house that’s 50-70% over the value it was in 2019, so take that as you will.

Your average wagie American outside of a truly rural and undeveloped countryside (or ghetto) are still mortgaging themselves to the hilt in order to try and buy homes out from under a rabid sea of investment portfolios, landlords, and AirBnB hosts, which isn’t something that can keep going for long. Just because the banks are signing off on the loans in this climate doesn’t mean they’re a smart thing for these home buyers to do.
 
Still Anonymous For This said:
My wife works in the mortgage industry and she had one of the busiest days of the year from people wanting to buy a house that’s 50-70% over the value it was in 2019, so take that as you will.

Your average wagie American outside of a truly rural and undeveloped countryside (or ghetto) are still mortgaging themselves to the hilt in order to try and buy homes out from under a rabid sea of investment portfolios, landlords, and AirBnB hosts, which isn’t something that can keep going for long. Just because the banks are signing off on the loans in this climate doesn’t mean they’re a smart thing for these home buyers to do.
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No offense to your wife, but a lot of mortgage lenders are subhuman scum. They'll try to approve any and every loan they can even if the people have no feasible way of actually paying it all off. A lot of the good ones see this shit going down and try to deny the approvals but man.
We're in for a huge shitstorm coming.
 
TrainWreckWatcher said:
No offense to your wife, but a lot of mortgage lenders are subhuman scum. They'll try to approve any and every loan they can even if the people have no feasible way of actually paying it all off. A lot of the good ones see this shit going down and try to deny the approvals but man.
We're in for a huge shitstorm coming.
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counterpoint: if too many bad loans are approved and they all go bad the bank can't afford to go after all the loans, and the homeowners get their houses by default
 
CarlKingofDucks said:
Fuck you faggot. My retirement has been absolutly crumbling over the last month and now with this I just watch my money disappear at an alarming rate.
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Unless you are actually selling those shares in your retirement funds to fund your retirement, those losses are only on paper, not realized. If you don't need to be selling shares right now, don't. Niggers are seeing the scary red graphs, thinking paper losses are the same as realized losses, and panic selling, making the prices fall faster. Smart people are waiting and riding this out. Even smarter people are buying right now, as stuff gets cheaper and cheaper, reducing their cost basis so they turn a bigger profit when prices eventually starts rising again.

Don't be a nigger with your money and you'll come out of this fine.
 
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that's a lot of red

The sharp rise in the JPY/USD is causing a massive unwind of Yen carry trade positions and contributing to the sharp decline in US stocks. For those who do not understand how this works, a brief explanation

  1. Many traders were borrowing Jap Yen (JPY) at low interest rates, converted them to USD and used this to buy US stocks
  2. Now that the Bank of Japan (BOJ) is raising interest rates, the JPY has strengthened significantly against the USD.
Now, these traders are in big shit. Not only must they pay higher interest for the JPY they borrowed, they are now facing huge forex losses as well. The USD assets they are holding may not be enough to repay the JPY they have borrowed.

3. This is causing a huge unwind of these trade positions. Traders facing big losses and margin calls are selling their US stocks to raise USD, converting back to JPY and paying back their loans.

4. This can lead to more selling pressure on US stocks and even more declines in the short term. Middle east war escalation, US political uncertainty is also adding to the fear and panic.

source: @adamkhoo
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I'm banned from reddit but wallstreetbets still has relevant information
 
STARS158 said:
"Iz it time for me to come in with the great rezet yet?"

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Sorry Klaus but Christine has you beat. Ever since he fucked his mom, reality has taken a shit. And I'm certain an evil fox breaking out of a certain rock didn't help matters. (Ukraine War kicked off not too long after she escaped)

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Accept the inevitable and ready yourself for the merge.
 

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CEO of Gay said:
Unless you are actually selling those shares in your retirement funds to fund your retirement, those losses are only on paper, not realized. If you don't need to be selling shares right now, don't. Niggers are seeing the scary red graphs, thinking paper losses are the same as realized losses, and panic selling, making the prices fall faster. Smart people are waiting and riding this out. Even smarter people are buying right now, as stuff gets cheaper and cheaper, reducing their cost basis so they turn a bigger profit when prices eventually starts rising again.

Don't be a nigger with your money and you'll come out of this fine.
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Even if it doesn't fully recover you can sell it off little by little as tax write offs for your losses.
 
That was a quick collapse. This is why you don't panic sell, folks

CEO of Gay said:
Unless you are actually selling those shares in your retirement funds to fund your retirement, those losses are only on paper, not realized. If you don't need to be selling shares right now, don't. Niggers are seeing the scary red graphs, thinking paper losses are the same as realized losses, and panic selling, making the prices fall faster. Smart people are waiting and riding this out. Even smarter people are buying right now, as stuff gets cheaper and cheaper, reducing their cost basis so they turn a bigger profit when prices eventually starts rising again.

Don't be a nigger with your money and you'll come out of this fine.
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I've been investing a while and seen a lot of market downturns. This post is 100% spot on. Put your money into low-cost index funds/etfs (like VOO or VTI) and forget about it. Don't touch it until you need it. Don't sell it because "the market is going down!". What will happen is you will sell yesterday, and then the market will recover and you'll be afraid to put it back in (because "it's going to go down any time now!") and you'll end up going back in when it's much higher.

Selling now is retarded because you're locking in your losses. If anything, you want to put more money in. The market is down 10%, so if you put $1000 in it's like putting $1100 in at its peak.

Warren Buffett can't time the market. You can't, either. Just set it and forget it. Don't sell because some retard on Twitter said the market is going go down. Put money in when you can, no matter the market conditions.
 
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Hollywood Hulk Hogan said:
That was a quick collapse. This is why you don't panic sell, folks
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It’s not Joever yet Hulkster. Don’t buy the dead cat bounce. Cuts aren’t expected to enter play until September so the markets will react poorly until Powell does his job. Even if it’s green it’s still more volatile than nitroglycerin. Don’t be caught holding the bag when others are selling it off on to you.

This is a bear eat bull world.
 
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