Stock Market is the bottom in?
- Thread starter Peplin Creek
- Start date
PatinPA
5 year old buck +
Ok now I'm down $30. I'd like to formally apologize to all of you for buying in and ruining all of your investments. haha
Bowsnbucks
5 year old buck +
First - I have no anger or ill-feeling toward you, Foggy. Quite the opposite. I appreciate your posts on all subjects!
The Covid-induced supply-chain / inflation mess is a global problem. The U.S. isn't the only player in the global economy. When OPEC (which includes Communist Russia) decided to reduce oil supplies - and thus gasoline & other fuel supplies, driving up prices - it wasn't Biden - or any other president here. Ever notice how gas prices increase right before a holiday when travel by car increases??? Or summer gas prices are higher because of "different formulations"??? It's not oil company greed (it couldn't be!!!) - it must be the president's fault. A recent article by an oil company spokesman said " ... No president of either party has control over oil & pump prices." That's from an oil company insider. His extensive article must be all lies --- right??? Our pipelines are open - they transport billions of cubic feet of natural gas and oil / oil products. Lowering our strategic oil reserves??? Why was it okey-dokey when George W. Bush did it for the same reason??? You can't have it both ways. I agree that we should re-plenish the SOR as soon as possible. But the SOR's purpose is not just for war scenario's - it's also mandated to be for times when world oil prices are such that our U.S. economy could be set back. Read up on it.
Stop spending money we don't have??? OK - so why did tricky Dicky Cheyney say on TV "...... Deficits don't matter." Every president - both R's and D's have deficit spent. Under Reagan our federal deficit tripled or better. Conservative spending??? Under T****, the deficit again went up big-time, due in part to his huge tax break give-away to billionaires. Even Mark Cuban and Buffet say publicly, "People like us should pay more for the opportunities the U.S. economy have given us." Billionaires have loads of written-in loopholes the avg. American will never have, so their claims of "we pay more taxes than anybody" are false. Despite having so-called "higher tax brackets" - they get loopholes to help them escape those tax brackets. Let's be real here.
If you look at any stock market charts going back 10 years or more, you can see the sh## hit the fan in late 2019 & early 2020 when Covid became the global pandemic that shut down every country's economy - not just ours. Don't believe me? Just take the time to check out the market charts. You'll see the beginning of tough times began in January of 2020 ..... and not just for the U.S. - but the whole world. The lagging effects of the Covid pandemic on businesses are still being fleshed out from the global economy.
Just very recently, the Wall Street Journal (a conservative business newspaper) called the U.S. economy - "..... the envy of the world" -- because the U.S economy has done much better than the world as a whole. Even the WSJ's editorial board has said in articles that the U.S. is doing pretty well economically ------ and that's from a conservative publication!!! There are numerous articles by avowed, life-long conservative economists who say the actual numbers show we're doing pretty well here in the U.S. Real inflation at 3.7% is not bad historically - just as 10% to 12% total return on investments is really good on a long-term, historical basis (though some may poo-poo such returns). You just need to look at economic history to get e better feel for today. Our investments have been doing fine - but we follow our CFP's advice and are diversified.
Maybe try looking at real, economic and investment news sources to get a true picture of how we're doing here in the U.S. Politics color things for the advantage of either party - real economic numbers don't lie. Doomsayers are always out there, but the long-term trend is up - and has been for 100+ years here in the U.S. Buffet has always said, "...... betting against the U.S. economy has always been a bad idea."
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Joe Biden revoked the permit for the Keystone Pipeline on his first day in office, so he most definitely deserves some blame for the high oil prices. OPEC cuts would have a lower impact in the US if we could efficiently transport oil produced in Canada to the US.
Foggy47
5 year old buck +
Seems to me your confusing 1. What Oil Companies do & have done, 2. What Joe Biden has done 3. what the Fed Reserve has done 4. What Russia (or other adversaries) have done and 5. What Covid has done. These entities do not operate in a vacuum....and actions or inactions of one can and do influence the other. Timing can be everything. Lots of scenarios can be derived from how these different entities operate. But I have seen little that our POS/POTUS has done to provide a positive effect on our economy, our Nation, or our financial system. I did post a short video on the Fed history (preceding page) and there is plenty of blame to share in how we got to where we are today.....but Biden is doing more harm, faster, and at a more dangerous time to our economy than others in our recent history.....maybe save LBJ and his great society....and Vietnam.
Nearly 100 years ago coming out of the Great Depression....when an inflationary economy was questioned this famous quote by the economist of the times was said as an answer: "In the long run, We are all dead". Seems we get a bit closer each year.
Keynes In The Long Run | History Today
www.historytoday.com
IMHO.....the USA has got to stop funding all the conflicts of this world and providing funding for all of the needs of so many needy nations. We have bent over backwards (many times over) to supply aid to countries while other nations offer a mere pittance of aid. Meanwhile the USA is in rapid decay socially and economically.
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bwoods11
5 year old buck +
I think you are making excuses for Joe Biden.
Inflation was low under Trump, gas prices were low under Trump. Inflation and gas prices are both high under Biden !
The NASDAQ went up 8000+ points under Trump in 4 years. It’s been a middle of the road gain under Biden (2000 points ?) in 4 years .
If Biden can’t handle it, let’s get Trump back in then !
jsasker007
5 year old buck +
Just the open border alone is enough reason to boot biden out right now. ANYONE will be better than dementia joe.
Jerry-B-WI
5 year old buck +
Why do we Americans feel that we should still be paying $1.89/gal for gasoline?
The internet is at our fingertips, just look up what inflation has done to the price of everything. I got curious about the subject and found this website usinflationcalculator.com. Gas was $0.65 in 1978 and adjusted for inflation 46 years later it's $3.86 a gallon. I'm actually paying less than that in my neighborhood. Beer was about $1.00 a pint in 1982 now it's about $4.00 a pint. Haven't heard too much bitchin' about the cost of beer. We need both, so just pay what it costs.
I don't like the way Biden has forgiven the debts of people who weren't smart enough to not get in over their heads. I damn sure didn't like the idea of baling out the automotive industry that has been sticking it to the American public for at least half a century. Don't like how we're paying to bomb the Gaza strip one day and dropping food to them the next day.
Our government has been doing this shit forever and it hasn't made a pinch of difference who was sitting in the oval office. They've all done it. Don't see it coming to a end either. Problem is we can't replace all of Washington at one time and the few we do replace during an election either can't make a difference or get sucked into the machine anyway. And even if we did replace every politician at the state and federal level the lobbyists and PAC's would buy them up anyway. I blame a lot of it on SCOTUS with their jackassed rulings about dark money for campaigns.
The internet is at our fingertips, just look up what inflation has done to the price of everything. I got curious about the subject and found this website usinflationcalculator.com. Gas was $0.65 in 1978 and adjusted for inflation 46 years later it's $3.86 a gallon. I'm actually paying less than that in my neighborhood. Beer was about $1.00 a pint in 1982 now it's about $4.00 a pint. Haven't heard too much bitchin' about the cost of beer. We need both, so just pay what it costs.
I don't like the way Biden has forgiven the debts of people who weren't smart enough to not get in over their heads. I damn sure didn't like the idea of baling out the automotive industry that has been sticking it to the American public for at least half a century. Don't like how we're paying to bomb the Gaza strip one day and dropping food to them the next day.
Our government has been doing this shit forever and it hasn't made a pinch of difference who was sitting in the oval office. They've all done it. Don't see it coming to a end either. Problem is we can't replace all of Washington at one time and the few we do replace during an election either can't make a difference or get sucked into the machine anyway. And even if we did replace every politician at the state and federal level the lobbyists and PAC's would buy them up anyway. I blame a lot of it on SCOTUS with their jackassed rulings about dark money for campaigns.
Buckly
5 year old buck +
Why do we Americans feel that we should still be paying $1.89/gal for gasoline?
Now there’s a statement right out of the EU. Get the price high to punish the US.
It needs to be lower because we have gobs of it. It needs to be lower because we can. Can you imagine the economy in the US if we had $1.50 gas. There would be prosperity everywhere. We have the ability. Let’s do it. Drill baby drill!
Now there’s a statement right out of the EU. Get the price high to punish the US.
It needs to be lower because we have gobs of it. It needs to be lower because we can. Can you imagine the economy in the US if we had $1.50 gas. There would be prosperity everywhere. We have the ability. Let’s do it. Drill baby drill!
Howboutthemdawgs
5 year old buck +
You will pay 3.50 and be happy…I can’t imagine that mindset. It should be as low as humanly possibly.
Jerry-B-WI
5 year old buck +
Can you imagine what the wages of the workers would be if you turned the clock back that far? Think of the prosperity if a new pickup truck cost $9000 instead of $43000. What if a porterhouse was $.80/pound instead of $13.50. We have the ability to do all of that except you're forgetting that everything would have to be cheaper including your wages.
Jerry-B-WI
5 year old buck +
Never claimed to be happy about it. Just saying there isn't much I can do to control it, so I stopped bitching about it.
If everything was as low as humanly possible we'd all be working for slave labor. And that's the way the politicians would like it.
Howboutthemdawgs
5 year old buck +
For sure but the only thing we can do for issues that have fixes…is vote differently. Otherwise we are essentially agreeing we are happy about it
Jerry-B-WI
5 year old buck +
If you read my whole post #4208, I do vote, but how are we going to get rid of every politician at the same time and stop the fire sale on their ethics?
Howboutthemdawgs
5 year old buck +
Sorry didn’t imply you didn’t vote just saying as peons all we can do is vote in favor of changing things if we don’t like them. I think we are screwed for the foreseeable future though. Term limits have to get established and harsh consequences for breaking the public’s trust/law must be enforced. Otherwise we can just hope for minuscule change with our votes
Buckly
5 year old buck +
Sorry, can’t buy that logic. Who said anything about turning the clock back. Oil prices go up and down. Low gas prices and or food prices have nothing to do with lower wages. A booming economy BECAUSE of low energy prices will boost wages and jobs and growth. You can certainly have high wages with low inflation and low energy prices. Please refer to the Trump years.
Jerry-B-WI
5 year old buck +
It was during the Trump/covid years that the oil industry woke up and decided they aren't going to play the game of flooding the market crashing the price of energy and then shut down production and watch the price go sky high then rinse and repeat. There isn't anyone in the world, including Donald Trump, that can force the oil companies to over produce just so you and I can enjoy cheap gas. Remember the people that drill, pump, refine, ship, make pipelines, etc. have to get paid. And they all demand a wage high enough to afford that porterhouse steak and a house and a new vehicle once in a while.
As much as we would like and as much as we think we deserve everything both ways, it ain't gonna happen. We don't control it. We're the tail, not the dog.
Foggy47
5 year old buck +
I got sucked in to another political post. Gonna have to work real hard to keep my nose out of this stuff for the next few months. I do not want to allow myself to get over-stimulated with political crap. Sorry....does little good.....especially for me and my demeanor.
