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[Doodley]

This message was self-deleted by its author (Doodley) on Tue Aug 6, 2024, 10:52 PM. When the original post in a discussion thread is self-deleted, the entire discussion thread is automatically locked so new replies cannot be posted.

[elleng]

1. How would that work, exactly?

Show off our DUMB???

Seems to have been in the works for a while, from Japan at least.

*Japanese stocks have been on a tear for more than a year, fueled by a weak Japanese yen. The yen’s depreciation had helped to inflate the earnings of Japanese exporters, but the currency has strengthened considerably over the past week.

Adding to the pressure, foreign investors have started selling off positions in Japanese stocks over the last few weeks. In the most recent data from the Tokyo Stock Exchange, foreign investors sold nearly $4 billion more in Japanese equities than they purchased during the week ending July 26. In the week prior, they were net sellers of $1.5 billion of equities.'

https://www.nytimes.com/2024/08/05/business/global-stocks.html

[Doodley]

4. This is the worst single day fall in points in the history of the Nikkei or as a percentage since the 80s.

Look at other Asian markets too. South Korea down 9%.Taiwan down 8%. But this isn't a day long event as you say. This is a contagion that will impact our stockmarkets, our confidence, our news cycles, and the Republican narrative.

[elleng]

5. Such alarmist 'noise' surely won't help.

Japan Needs Foreign Workers. It’s Just Not Sure It Wants Them to Stay.

Foreign employees have become much more visible in Japan. But policies designed only for short-term stays may hurt the country in the global competition for labor.

https://www.nytimes.com/2024/08/05/world/asia/japan-foreign-workers.html

Declaring ‘Crisis,’ South Korean Firms Tell Managers to Work 6 Days a Week.

The move by some influential companies has raised concerns about work-life balance in a country where long hours at the office are common.

https://www.nytimes.com/2024/08/05/business/south-korea-labor-workweek.html

[Doodley]

19. I don't follow the point you are making. My point is this impacts on America, on the stock market, on news reporting on

the economy, and on voters, where we already have a deficit in public support.

[Deek1935]

8. There are always market corrections, ups and downs, initial OVER-REACTIONS then a leveling out...relax.

[bigtree]

15. you wrote in your op that you 'think it's an overreaction'

...but you're still spreading doom in your replies.

[Doodley]

20. This is historic. No over-reaction on my part.

[bigtree]

26. you directly contradicted the fearful headline in your own post

...you're all over the place.

Most importantly, you haven't presented a shred of evidence of what you're on about.

[RJ_MacReady]

29. concern noted.

[democrattotheend]

36. It's starting to feel like 2008 in reverse, sadly

Obama was leading most of the summer, then McCain shook things up when he picked Sarah Palin and had those "celebrity" ads that were pretty effective against Obama, and started to grab the momentum and catch up in the polls a little bit, then the market tanked and Obama won easily. Trump was leading all year, we got a glimmer of hope when Biden stepped aside and Kamala took over and started catching up in the polls, and now this. Really hope I am wrong.

[wnylib]

38. Will alarmist warnings and predictions instill market confidence?

Asking for billions of people world wide.

[ImNotGod]

2. The economy is great, stock market corrections happen, especially after a long run to irrational exuberance levels

I've seen this happen too many times over the decades. Don't fall for the doom and gloom bs.

[Doodley]

3. Agreed, but this will open the door to the economy being the number one news issue and Trump saying things like:

"The economy has never been as bad, will go into recession if I'm not elected, probably a depression."

[True Dough]

6. I share your concerns

IF the downturn persists. The consensus seems to be that the Fed triggered this by refusing to shave a little off of interest rates, but Powell strongly signaled that a cut is coming in September. So maybe it's choppy waters until then but things could turn around when that next Fed meeting is getting closer.

As long as we don't see heavy losses beyond that date in September, then the economy hopefully won't be a point of attack for the ReThugs. Other than inflation, which was a problem globally and it has come down more in the U.S. than most other countries, but the right harps on it endlessly.

[Cosmocat]

12. Yep

It is a legit concern, but the market has rebounded a lot quicker in recent times after these big drops, and it is better to have this now than a month out, as long as it stabilizes and starts to bounce back some.

[Doodley]

25. I hope so. And if we get more good economic news this could quickly turn around.

[Deek1935]

9. Who gives a flying fuck what The Orange Rapist says. Just chill.

[Doodley]

21. How about 70 million people who voted for him last time. Why the aggression?

[hatrack]

11. He also says that violent crime is the worst ever, and inflation is 40% . . .

Screaming Panic Mode Air Raid Siren is his default setting, and that of Republicans. Whether there's any truth to what they say is utterly immaterial to them.

[travelingthrulife]

35. He will say this anyway

Stock market fluctuation? Isn't that the norm?

[Turk182]

16. I disagree

The issue is not about corrections, or levels, or about reality.

It’s about the perceptions of these uninformed Americans. The facts are that every time a Republican wins the White House from a Democrat, the rate of job creation and the stock market take a dive, and every time a Democrat wins from a Republican, the stock market skyrockets as does job creation.

Reality is over, campaign on peoples misguided perceptions, it’s the only thing they pay attention to.

[Deek1935]

17. People just need to chill out. Bedwetting over this and that and that and this is foolish.

[Doodley]

23. Thank you. You are right. Trump will put the fear of God into voters who listen to him and drive up GOP turnout.

[RJ_MacReady]

24. concern

Noted.

[CountAllVotes]

18. It's nothing more than a big casino

You win and you lose. Oh well ...

[RJ_MacReady]

7. meh

Sounds like alarmist nonsense to me.

[Brainfodder]

10. Less pressing the DOOM button maybe?

Stock drop is long overdue IMHO.

The bigs do their splits then the price goes back up to what it was with 2x the stocks, which happens over and over in some cases, and that is how the CEOs and wealthy really get it good, too good, too easily?

[bigtree]

13. this is election season bullshit

..why are you posting this deliberate disinfo here?

John Delaney 🇺🇸 @JohnDelaney 34m
Before people start screaming that the sky is falling economically, remember:

Unemployment is LOW at 4.2%

Inflation is still in the 2.5-3.0% range, ABOVE the Fed's target of 2%

Markets have appreciated VERY fast, a correction is normal.

Justin Wolfers @JustinWolfers
There's been a lotta talk about recession. Here's the data so you can judge for yourself.




and this op...

First you post a snippet of some rando poll that says voters trust the man who bankrupted our nation on the economy.

Why give credence to such nonsense without one word of pushback?

Lastly, you contradict your lead by insisting you don't believe what you just posited in your op.

"Personally, I think it's an over-reaction," you write at the end of your post as if someone other than you had written that 'this is alarming' in the header.

[Self Esteem]

27. I don't think the fear is that the economy is in a recession...

It's fear that there are signs it might be sliding into a recession. That's what's spooked international markets.

https://www.reuters.com/markets/europe/londons-ftse-100-drops-us-recession-fears-spark-global-sell-off-2024-08-05/

The "good" news is that we've heard the drum beats of recession before and nothing has come of it.

Will this play out the same way? Unfortunately, we don't know. It sucks that the market is at the whims of vibes sometimes and that drops in the market are played up as impending trouble...until things smooth out.

My guess is today, like Friday, will be rough. But hopefully it doesn't last and things stabilize pretty quickly.

[bigtree]

31. the market hasn't dropped this low

...since June.

[Self Esteem]

33. The market just opened.

The hope is that it's a blip and that's it.

[DFW]

14. The sky is not falling due a week or ten days of bubble corrections

Nothing goes only up forever. To give any bull market credibility, there must be brief pullbacks and consolidations. A market that only goes straight up usually has a nasty crash when the party is over. I still like my position better now than when Trump left office. If Harris-Whoever wins in November, I‘ll like it even better, I‘m rather confident.

[Calista241]

40. The problem with this

Is that there's nothing in the immediate future that's going to turn it around tomorrow, next week or the week after. And there's a whole lot of geo-political stuff that could exacerbate the downtrend. The reports (like the employment reports) that were supposed to stabilize the markets came out and had the opposite effect.

The Fed just met, and decided not to do anything, and they don't meet again until September. Even if they did an emergency cut, would that solve the problem? The Sahm rule has been triggered, layoffs are being announced / implemented over the next month. Are more layoffs ahead?

We've basically got 30 days for the doomers to preach before any positive news could possibly be released. And after 30 days of doom, will the reports that could fix this actually fix it?

As far as the election is concerned, this is the worst possible timing. Everyone is going to think we're in recession, but without really knowing for sure. Markets are in a tailspin and unlikely to recover in the short term. Economic anxiety is going to be off the charts.

The Nikkei dropped 12% yesterday, in 1 day. If the US markets lose 12% this week, that is going to be a catastrophe. All other political issues will go away, and the economy will be the #1, #2, and #3 issue on everyone's mind.

[Demsrule86]

22. first of all where is the link to the poll?

[Vinca]

28. Wall Street is pretty much a casino and I can't figure out the latest drop at all.

We've been making steady progress to get out of the Covid mismanagement economic disaster. Are they doing this just to spur an interest rate cut and/or get Trump elected so they'll have more tax cuts and deregulation? Weird.

[Yavin4]

32. Late summer months are always a bad time for the markets.

Quarterly reports, the Fed, people on vacations, school tuition bills come due, etc. There are a variety of reasons why folks pull money out of the market at this time of the year.

In Sept, the Fed will cut rates, and we will see a booming market in late Fall, early December.

[kansasobama]

37. We want booming economy in October

Not December. Oh Powell. Just cut that rate.

[Yavin4]

43. Won't happen that fast after a rate cut.

Markets are going to be topsy turvy until after the election when there's some certainty.

[Diraven]

30. Just everyone having a sad

That the Fed didn't cut interest rates like all the ridiculously wealthy people wanted so they could keep making stock money from companies that aren't actually profitable. Now they'll be forced to make the cut, and the stocks will quickly go back up (except for some that were ludicrously overpriced anyway).

[MineralMan]

34. What Isn't Alarming to You, Doodley?

Wait a few days. The stock market is volatile. Not everything is a plot to get Trump back in power. Truly.

The sky is not falling, at least not today.

[doc03]

39. For godsakes it is just a minor correction. If

the Fed cuts interest rates it will bounce back. We don't go from the best economy in history to a depression because of a 3 or 4 % correction. People panicked in 2008, I stayed in the market and gained 280% in the Obama years.

[GoreWon2000]

41. The stock market is down one day and back up the next

This is NOT a pants on fire moment. The U.S. economy is the envy of the world. The U.S. economic fundamentals are solid. The magas want everyone to think things are bad when they're not. It's time to stop drinking their Kool-Aid.

[Attilatheblond]

42. Been predicting, since start of campaign season, that Corporations would try to tank the economy before November

They will throw the world into turmoil just to protect their tax breaks and avoid any move to protect people via regulations on industries.

In a time of record profits, this is such an obvious campaign stunt, and they don't even have to make donations. Sure, some of them will lose $ but isn't that mostly smaller investors? Don't the Big Guys sit on their stocks for a bit, sell off, then buy back at new, lower stock prices? Weren't there a lot of buy-backs over the past couple of years.

Sure seems like the Big Guys are out to control the world.

[Zoomie1986]

44. Most Americans have always been morons

About economics. I consider myself quite stupid about the finance side of money, but I do better than most with economics in general.

That's why I'm always dismayed at how unrelated to reality some Americans are when it comes to economics.. One of the most annoying is how they expect prices to lock into place for all time, but they don't. Prices tend to go up over time for essentials like food and household cleaners and cars. But some of them go down over time, too. I always like to point to my ex-boyfriend's OG CD player, that cost him over $700 in 1983 because he bought it on the release date. Only a few years later, CD players were down to a couple of hundred bucks, and even had more whistles and bells. An Apple II computer in 1982 was $1298 retail. I can get a Macbook laptop for less than that at Costco right now, and you can bet that its performance is Space Age compared to that old machine.

I'm not saying that price-gouging doesn't happen, because it does. It's a real problem right now with certain producers. But we need to make sure we're focusing on the actual perpetrators, and not getting carried away and confusing gouging and normal pricing over time.

My husband works for a grocer. I'm tired of customers screaming at him about prices that a) he doesn't control at all, and b) that are normal pricing over time and not gouging. I understand being upset about the gougers--everyone finds that reprehensible. What is neither understandable nor acceptable is the marked increase in how many customers have become so out of control in expressing their outrage at innocent people that security and cops have had to get involved. There is absolute zero call for that kind of behavior, but, every day, I have to wonder if this is the day some deranged lunatic beats up or stabs or shoots my husband or one of his co-workers. And I'm sick of living with that kind of fear and worry.

We wouldn't have this problem if people would stop being stupid long enough to educate themselves about basic economics and the causes of a particular price increase, rather than going into total meltdowns at innocent parties.

[Elessar Zappa]

45. Relax.

It will correct itself.