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ASPartOfMe
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05 Aug 2024, 10:20 am

CNN Live Updates

Quote:
Stocks around the world are tumbling as fears about a US economic slowdown sent shockwaves of fear through global markets.

The Dow opened more than 1,000 points lower, the S&P 500 was down 4.25% and the Nasdaq Composite plunged by more than 6%. All three indexes recovered slightly in morning trading.

That comes after Japanese stocks suffered their biggest ever daily loss Monday. The Nikkei 225 index in Tokyo closed more than 12% lower.

Fears of a sharp slowdown in the US economy have raised expectations that the Federal Reserve will have to slash interest rates.


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lostonearth35
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05 Aug 2024, 10:32 am

So we're going to have another Great Depression. Why not, it isn't as if we've had one disaster after another all summer long. :roll:



Nades
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05 Aug 2024, 11:50 am

lostonearth35 wrote:
So we're going to have another Great Depression. Why not, it isn't as if we've had one disaster after another all summer long. :roll:



It's just a minor slump I imagine.



naturalplastic
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05 Aug 2024, 12:25 pm

Yep!

That "scriptwriter in the sky" keeps sending us more drama and plot complications for this election.

One day ... Biden's brain gets stuck in neutral on national TV at the debate...tipping the election to Trump.

Then Biden passes the torch to Harris...galvinizing the Dems and shooting Trump in the foot. And Trump picks Shady Vance as his running mate...shooting HIMSELF in the other foot. Together hobbling Trump and tipping it back to the Dems. What a rollercoaster ride!

But now...out of left field ...the stock market looks like its tanking. If it leads to a recession then the incumbent party always gets the blame...so the stock market might save Trump after all!

Too much drama for me!



Fenn
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05 Aug 2024, 1:44 pm

The stock market doesn’t like uncertainty. It doesn’t much care if a Dem wins or a Rep wins but a close race is bad for the stock market. So events are not as unrelated or unpredictable as all that.

Plus the original article says “plunge” not “crash”. Things that crash have a harder time getting up.


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Mountain Goat
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05 Aug 2024, 3:12 pm

naturalplastic wrote:
Yep!

That "scriptwriter in the sky" keeps sending us more drama and plot complications for this election.

One day ... Biden's brain gets stuck in neutral on national TV at the debate...tipping the election to Trump.

Then Biden passes the torch to Harris...galvinizing the Dems and shooting Trump in the foot. And Trump picks Shady Vance as his running mate...shooting HIMSELF in the other foot. Together hobbling Trump and tipping it back to the Dems. What a rollercoaster ride!

But now...out of left field ...the stock market looks like its tanking. If it leads to a recession then the incumbent party always gets the blame...so the stock market might save Trump after all!

Too much drama for me!


Trump has already had someone shoot his ear. Now he has shot his feet? Why is it not on our news?



cyberdad
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05 Aug 2024, 3:18 pm

It's the MIT societal crash model
in the 1960s they predicted global catastrophe would start in 2020 and humanity as a whole would completely crash by 2040 giving rise to a dystopian future.

With the world's largest economy willing to vote in a criminal who permitted the spread of an unfettered pandemic in 2020 the signs are beginning to start.



Fenn
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05 Aug 2024, 3:27 pm

https://www.forbes.com/sites/jimosman/2 ... portfolio/

"During election times, financial markets are famously erratic and unpredictable as investors negotiate the possibility for major policy changes and economic upheaval. The expectation of a new government fuels a frenzy of conjecture that causes market swings capable of upsetting even the most experienced investors. Election cycles have historically been characterized by more volatility; for example, the 2016 presidential election saw the Dow Jones Industrial Average drop nearly 800 points overnight and then rebound quite dramatically the next day. Likewise, the 2020 contest was rife with market volatility, mirroring the great uncertainty about the result."


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cyberdad
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05 Aug 2024, 3:31 pm

Fenn wrote:
https://www.forbes.com/sites/jimosman/2024/07/07/how-the-presidential-election-could-wreck-your-investment-portfolio/

"During election times, financial markets are famously erratic and unpredictable as investors negotiate the possibility for major policy changes and economic upheaval. The expectation of a new government fuels a frenzy of conjecture that causes market swings capable of upsetting even the most experienced investors. Election cycles have historically been characterized by more volatility; for example, the 2016 presidential election saw the Dow Jones Industrial Average drop nearly 800 points overnight and then rebound quite dramatically the next day. Likewise, the 2020 contest was rife with market volatility, mirroring the great uncertainty about the result."


Oh boring! my theory sounds more cool.



ASPartOfMe
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05 Aug 2024, 3:34 pm

naturalplastic wrote:
Yep!

That "scriptwriter in the sky" keeps sending us more drama and plot complications for this election.

One day ... Biden's brain gets stuck in neutral on national TV at the debate...tipping the election to Trump.

Then Biden passes the torch to Harris...galvinizing the Dems and shooting Trump in the foot. And Trump picks Shady Vance as his running mate...shooting HIMSELF in the other foot. Together hobbling Trump and tipping it back to the Dems. What a rollercoaster ride!

But now...out of left field ...the stock market looks like its tanking. If it leads to a recession then the incumbent party always gets the blame...so the stock market might save Trump after all!

Too much drama for me!

And Trump gets not metaphorically shot but literally shot.


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05 Aug 2024, 3:58 pm

The Fed will no doubt cut interest rates again to appease their Wall Street masters, just as they've been doing for the best part of four decades whenever the market has got into trouble.


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Fenn
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05 Aug 2024, 4:23 pm

TL;DR: The sky is literally falling (don't count your "stock market crash" chickens before they hatch)


Title: "Data Little and the Asteroid Alarm"

Setting: The USS Enterprise-D, orbiting the uncharted planet Torma IV.

Plot:

Lieutenant Commander Data, the android officer aboard the USS Enterprise-D, is deeply engrossed in analyzing sensor data. He detects an anomaly—a large asteroid heading towards Torma IV. Excited by the potential discovery, he decides to alert the crew about the potential impact.

Meanwhile, on Torma IV, the local alien species, the Krikkin Kliits, have names that sound strangely familiar. Their leader is Krickin Liddle, and his quirky sidekick is Goosee Loosie. The Krikkin Kliits are known for their highly unpredictable behavior and comical misunderstandings.

Data, in his usual precise manner, presents his findings to the crew, emphasizing the need for intervention. However, the crew finds his data delivery overly formal and slightly amusing. Commander Riker jokes about Data being "a bit of a Krickin Liddle," implying he might be overly cautious.

As Data insists on the asteroid’s imminent threat, Krickin Liddle and Goosee Loosie are accidentally beamed aboard the Enterprise during a diplomatic exchange. The Krikkin Kliits are curious, colorful, and have a penchant for dramatic expressions. Krickin Liddle is prone to comically exaggerated reactions, while Goosee Loosie has a knack for falling into hapless predicaments.

Upon their arrival, Krickin Liddle, upon seeing Data's serious demeanor, gets into a playful argument with him, insisting that the asteroid is just "a cosmic pebble" and that Data is overreacting. Goosee Loosie, always ready for an adventure, proposes a series of outlandish solutions, including launching a giant space catapult or creating a "cosmic deflector shield" made of rubber bands and duct tape.

Despite the comical banter, Data remains focused and manages to convince the crew and the Krikkin Kliits of the seriousness of the situation. Together, they devise a plan to alter the asteroid's trajectory using a gravimetric pulse.

The plan involves a lot of humorous mishaps, such as Krickin Liddle accidentally hitting the wrong control panel and Goosee Loosie getting tangled in the ship’s safety nets. Despite these setbacks, the asteroid is successfully redirected, and the planet is saved.

In the end, Krickin Liddle and Goosee Loosie are honored for their enthusiastic, if somewhat chaotic, contributions to the mission. The crew shares a hearty laugh over the whole affair, and Data learns to appreciate the value of humor and light-heartedness in serious situations.

Epilogue:

As the Enterprise sets off on its next mission, Data and the Krikkin Kliits exchange friendly farewells. The story of the asteroid alarm becomes a favorite among the crew, with Data occasionally recounting it with a slight smile, especially when he reminisces about Goosee Loosie’s imaginative but impractical solutions.

The moral of the story - The tale warns against:

Overreacting: panic over a supposed disaster leads to unnecessary chaos. It's important to assess situations carefully before reacting.

Spreading False Alarms: fear-mongering causes widespread panic among the other. This highlights the impact of spreading unverified or exaggerated information.

Critical Thinking: The story encourages critical thinking and verifying facts before making decisions or sharing information.

Overall, it underscores the importance of staying calm, verifying information, and not letting fear dictate actions.


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naturalplastic
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05 Aug 2024, 4:49 pm

ASPartOfMe wrote:
naturalplastic wrote:
Yep!

That "scriptwriter in the sky" keeps sending us more drama and plot complications for this election.

One day ... Biden's brain gets stuck in neutral on national TV at the debate...tipping the election to Trump.

Then Biden passes the torch to Harris...galvinizing the Dems and shooting Trump in the foot. And Trump picks Shady Vance as his running mate...shooting HIMSELF in the other foot. Together hobbling Trump and tipping it back to the Dems. What a rollercoaster ride!

But now...out of left field ...the stock market looks like its tanking. If it leads to a recession then the incumbent party always gets the blame...so the stock market might save Trump after all!

Too much drama for me!

And Trump gets not metaphorically shot but literally shot.


OH YEAH!

So much drama...I loose track of all it! :D

After the Biden debate debacle ...Trump gets to be a Martyr...without having to die by getting grazed by a bullet...boosting his numbers... and then the rest of the tale outlined above. Lol!

Knew I had forgetten SUMPIN!

And then we have RFK Jr. to give us some comic relief with ...worms in the head, and dead bear cubs in the park.



CockneyRebel
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06 Aug 2024, 12:16 am

Why not go into another Great Depression. Youths have had it soft for far too long, getting every little thing from their parents that their hearts desire.


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06 Aug 2024, 5:30 pm

I wish I had some money to put in the stock market right now.I would be happy even if I could put a dollar in the market because now is the most perfect and best time to invest in the stock market.Be greedy when others are fearful and be fearful when others are greedy-Warren Buffett.



funeralxempire
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06 Aug 2024, 5:31 pm

Last I heard Japan has already recovered from the dip.


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