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Legend [15492]
TigerPulse: 100%
Posts: 18413
Joined: 12/10/14
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Is Wall St. broken?
Jun 5, 2020, 5:27 PM
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Corporate profits have crumbled, 41 million unemployed, consumer confidence down and somehow the Stock Market is booming.
"The stock market is not the economy. But rarely has the gap between Wall Street and Main Street felt so wide.
The United States is going through its worst race crisis since 1968 following the death of George Floyd, an unarmed black man, at the hands of a police officer in Minneapolis. Riots have hit cities across the nation. Looting is rampant. And President Donald Trump is threatening to send in the military to stop the violence.
The civil unrest could exacerbate the coronavirus pandemic that has already killed more than 100,000 Americans. That in turn could deepen the economic collapse that has forced more than 40 million people to file for unemployment. Meanwhile US-China relations are imploding, imperiling the trade war ceasefire reached between the world's two largest economies.
The market is broken. It no longer reflects a forward outlook that is truly aligned in the real economy."
And yet, the stock market is downright booming."
https://www.cnn.com/2020/06/03/investing/stocks-market-dow-jones-riots-coronavirus/index.html
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Oculus Spirit [83625]
TigerPulse: 100%
Posts: 63724
Joined: 12/31/06
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They left out the clubbing of baby seals***
Jun 5, 2020, 5:30 PM
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Hall of Famer [24477]
TigerPulse: 100%
Posts: 13968
Joined: 7/3/01
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When it went down last month it was fixed. When it goes up
Jun 5, 2020, 6:06 PM
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it's broken. Or - and this is bizarre - it's almost like somebody thinks they know more than people on the internet. Crazy.
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110%er [8982]
TigerPulse: 100%
Posts: 9781
Joined: 4/27/13
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Re: Is Wall St. broken?
Jun 5, 2020, 6:07 PM
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sounds like the writer is disconnected from reality
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CU Medallion [57075]
TigerPulse: 100%
Posts: 39680
Joined: 11/12/04
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No Depression 2.0 make you sad, bro?
Jun 5, 2020, 6:10 PM
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You and the MSM root for the destruction of America because you think it will help your side politically.
That’s pretty sickening man. And people are getting woke to it.
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Athletic Dir [881]
TigerPulse: 57%
Posts: 2125
Joined: 2/3/12
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Don't be such an idiot
Jun 6, 2020, 1:17 AM
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We want to retire wealthy and need a healthy stock market for that. We just want a president with some sense of decency and morals that we can at least tolerate. Not some man-child with the morals of a bonobo on drugs.
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110%er [8982]
TigerPulse: 100%
Posts: 9781
Joined: 4/27/13
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Re: Don't be such an idiot
Jun 6, 2020, 9:49 AM
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"sense of decency and morals"
i don't think that was the plan
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CU Guru [1315]
TigerPulse: 74%
Posts: 8987
Joined: 1/25/11
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Re: Is Wall St. broken?
Jun 5, 2020, 6:29 PM
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aaaaauuhhh now, Felix, are you disappointed that the market is roaring back? I bet this really, really stings,eh? Bwess your pea-picking whittle heart... I hope you can survive this latest threat to your sanity. Again, give Tide Tablets a try....desperate times require desperate approaches...I will pray for you.
I guess you're not as prescient as you thought? Pity. I feel your pain. I know, I know, life isn't fair for you these days. At least your partner can comfort you after this major setback.....
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Athletic Dir [881]
TigerPulse: 57%
Posts: 2125
Joined: 2/3/12
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Some companies have done really well
Jun 6, 2020, 1:14 AM
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and they represent a large fraction of SPX. The devil will collect his due for all the others over the next couple of quarterly earnings reports. My favorite play is selling puts, but there's no equity I would risk that on right now - everything I follow is priced too high. That might change in the next year, but if we keep printing money it might be delayed.
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All-In [48078]
TigerPulse: 100%
Posts: 49059
Joined: 5/16/04
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Re: Is Wall St. broken?
Jun 6, 2020, 7:14 AM
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In a way, because a very small % of Americans have anything significant in the market. It's not reflective of the masses financial stability.
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All-In [40927]
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Joined: 11/30/98
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and by small percentage you mean the majority
Jun 6, 2020, 7:54 AM
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right?
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All-In [48078]
TigerPulse: 100%
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Re: and by small percentage you mean the majority
Jun 6, 2020, 8:11 AM
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Significant is the word that went over your head. I read an article in the WSJ a couple years back that stated 80% of American individuals over the age of 30 have under 10k invested in the stock marker.
55% are invested, which seems weak in the first place. Well, at least they have something invested. That is still weak.. 80% Americans have under 10k invested. The point is, the stock market is not reflective of the masses financial stability in the US in 2020.
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All-In [46816]
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Posts: 30723
Joined: 8/11/15
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why should it go down
Jun 6, 2020, 9:44 AM
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when the government will spend trillions of dollars to bail your company out so you can buy stocks back to keep increasing your stock price?
Couple that with JPow tossing out money like Jordan Belfort on a bender and you have a bull market in a depression.
This is the stuff economists will be studying for years.
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