The Market is Taking a Dump

Are we seeing the beginning of the hard road ahead?

DOW
31,436.24
‎-836.55 (-2.59%)

S&P 500
3,903.85
‎-113.97 (-2.84%)

NASDAQ
11,350.63
‎-403.60 (-3.43%)

Gold
1,874.20
‎+21.40 (+1.16%)

Awesome. FJB.

But, according to Brandon, we've turned a corner and the economy has never been stronger!

We're living in a Hank Williams Jr song.

The interest is up and the Stock Markets down
And you only get mugged
If you go down town

… exceeding all expectations

So is my dog

It still amazes me that people are still saying the idiot in the WH is doing a good job.

I'm also taking a dump right now.

I still have my buy order for Apple at $135. But the FA I get weekly emails from said to prepare for the DOW to hit 25,000. I'll be curious what he says in todays email.

we havent even gotten close to bottom i feel. Gas fixing to hit $5 in el paso....and we got a [censored] refinery in our city!!! i literally hate the world right now...well not the world, the powers that be is what im hating. Even for you rich folk on here....i know youre feeling it with $5 eggs, $5 gas, 30% increases on items that normally cost $1-5 bucks! Seems like a lot of the "powers that be" are still doing ok 🤷‍♂️

[censored] wild....never thought i would live through something like this in a country as great as ours.

Spot on bockscar. I would edit to “A country as great as ours” about a year and a half ago. It has been down hill from there and we’re not at the bottom of the hill.

And yeah, glad I have some cash for later.

Is this even news anymore at this point? It’s kinda like saying the sun rises in the morning.

Is your head still in the way?

Where is Carl when we need him?

In your pants like the kiddy sniffing embezzler you voted for?

Time to build up the dry powder.

That holes big enough that he can just $hit around his head

Lol its taken a tank about every single day since Jan 1st. Stay cash heavy and get ready to buy but I think we are still early.

2009 Encore Presentation , brought to you by 81,000,000,000 Geniuses

Who was it that said the Market always goes up?

It always does if you have enough time..😆 Have we had any 10 year windows without some sort of gain not counting inflation though..

This thread got me curious so I logged in to look at my 401k, now its a 301k- so FJB. What has he done for anyone? The party that supposed to be for the little guy??😆 Inflation, rent increases, fuel, all this stuff hurts the little guy the most yet they still get voting advice from Hollywood or the NBA….

100% of my 401k is in stable fund. I figure the DOW goes to under 25,000 maybe as low as 22,000. Should make a bunch on the way back up in a few years. Bear market for a couple of years at least.

DOW
30,662.27
‎-730.52 (-2.33%)

S&P 500
3,778.43
‎-122.43 (-3.14%)

NASDAQ
10,898.93
‎-441.10 (-3.89%)

Gold
1,832.10
‎-43.40 (-2.31%)

US Oil WTI
121.22
‎+0.55 (+0.46%)

Stellar performance

Every time I think things can't get more disastrous...they get more disastrous. This is an utter calamity for poor and middle class Americans. They care about being able to live their lives and feed their families, not about whether theories say the Earth's temperature might rise 1.2 degrees in the next 100 years.

Oh, I almost forgot. FJB.

Down over 800 points again. You’re doing awesome, president DooDoo Pants…..just awesome

FJB

Woooooosh again today. That is the sound of my retirement account draining faster than I can fund it. FJB

This is good news. The market has been needing a correction for 3-5 years now

Times like theses make me glad I decided to get my annuity with lock step so when the market goes down, it doesn't. When the market goes up, the lock value goes up too.

DJIA - not easy to stay afloat when you include the 8+% inflation.

Yes, yes it is.

Please educate me, what is a stable fund?

I’m dollar cost averaging into the market on big drop days, like today. Nobody knows where the bottom is, but I’m riding it down little by little.

My 401k buy occurs at the first of each month, I’m buying 2-3x a month, depending on market drops, looking for >4-5% drops before getting in. Cash is king.

Not a big earner or loser. A place to wait it out.

'Don't underestimate Joe's ability to (expletive) things up'
-Barak Obama

-800 on the DOW is easy to tolerate if you are in the right position. It takes two big decisions. When to get out and when to get back in. Both need to be correct.

CarlDoNothin and S4Brains will be the only ones claiming to be thriving in the market place, those libs are just special like that.

Don’t forget Captain 6 Figs. He’s the newest OT balla

Dips in the economy are not new.

People in my age bracket (early to mid 50's) that missed their opportunities in the 90's and then in the early 2000's like to complain about the market, CPI, gas prices and so on and so on.

Instead they should have been capitalizing on their opportunities to grow their wealth when they were 20's-30's.

This is a good time to prepare to growth your wealth exponentially in the near future.

lol, ive noticed youve posted a few things on this. Care to be more specific, other than buy low, sell high...

I have been out of the conventional market with the exception of petroleum stocks since 2019.

I mostly dabble in crypto.

My best advice is do research and study. I believe any investment is truly a gamble and the more info you have the more of an edge you'll have to succeed. Don't invest money you'll need or cannot lose.

I read and watch a lot of videos on the crypto space.

This Administration has no clue what they are doing.

They know exactly what they are doing. They promised it during campaign season, and it is intentional. “St. Obama” called it “managing America’s decline.”

Right now, I have to be content with knowing that my dividends are automatically reinvesting in more shares at these lower prices. This creates a multiplier effect and gives me more dividends, which buy more shares, etc.

Dividend income makes bear markets more bearable. Still painful and unpleasant to get mauled though.

the 1% is growing wealth at an unbelievable rate

the target to this administration to disrupt is the middle to upper middle class

Time to start buying? I grabbed a little Dark Pulse this morning - dpls. I had .02 as a buy target and today it hit. The market sure is looking precarious of late.

Blue horseshoe loves Anacott Steel.

^^^^^ Patience for the long haul.

Yup, there is no getting out now. Buying more is what smart money does but careful, careful, careful.

I think they want to do away with the middle class .

Still not any 80k bass boats in stock at any dealers...they flying out the door when they get some in.

The 30 year mortgage just hit 6%. That is a 3% increase since January. The housing affordability index is at the same level as the 2008 crash and continuing to go down. The Fed is set to raise interest by 150 basis points in the next 2 months. Meaning? The housing market is about to crash and real estate is going to flood the market.

Think of all of the Air BnB's that are out there with nobody renting because they can't afford to. Same with rental properties. If they can't rent them, they are going to dump them. This doesn't even bring into account all of the forclosures that will be coming once the lay-offs start. (They already have really. Big Tech dumped 16,000 jobs earlier this year.)

Get your check books ready cause you are going to be able to pick up real estate for pennies on the dollar very soon.

a flash back to the 80's

So many people have been purchasing houses way too expensive because the fed has forced the rates so low.

So are foreclosures actually going to be allowed now? I know a guy who has not made his house payment in over two years. He is still living in the house. He hasn't been foreclosed upon because of "covid".

One of the reasons home prices went so high is because of a lack of foreclosures. When people can't be kicked out of their housing for not paying it creates a shortage of available housing.

I believe you are incorrect. the government mandates and moratoriums are over and were over I believe late last year/early this year. Tell your neighbor to sell it while he still has a chance to walk away with some money to help float them through these tough times.

https://www.forbes.com/sites/brenda...dy-climb-back-to-normal/?sh=24094692167e

You might be way smarter than me, but I just don’t see it. Sure housing will take a beating, new construction and for sale. I don’t see the rest of that happening though. Now if someone was too stupid to lock during the 2-3% days, then they might see a foreclosure. Granted I live in a fairly wealthy area, so we might have slightly different results, but I can’t see the penny on the dollar deals happening anywheres.


Hell, with gas prices continuing to rise, you might be right.


I am shocked that the fed didn’t start raising rates sooner, now they want to go to the extreme after it’s too late to do any good. The wheels are already in motion, raising the rates more only creates turmoil, fricking idiots in charge of this country.

if you owned your house 1 year...chances are you can sell and break even, maybe even have some equity depending on the market. If youve owned a house 2+ years you likely have a resepectable chunk of equity....the longer youve owned the more equity you got. There will be foreclosures....but a lot are likely avoidable. I hope those people with even a tiny bit of equity sell before its too late.

I just want to know what the other side of this is going to look like. Are chips and queso at Taco Bell going back to 99 cents after all this is said and done(they were $1.69 when I got them yesterday)....or are these new prices the new norm? I think thats whats gonna happen. Gas will go down....but i cant see fast food, walmarts, chain restaurants/stores dropping prices after this. I also cant see all our wages going up 10% magically in a few months to stay on par with the new normal prices.

This stuff is pretty scary for someone whos not set and have a fair amount in savings. My company just sent an email out that if we got the email....we werent laid off. So the layoffs are starting.....isnt that mean we are full on in a recession already? We still arent even at the worst of it yet either imo. Scary times.

This is Biden's build back better plan.......

FJB

My guess? The dollar crashes and is no longer the reserve currency. The Central bank has been testing a programable digital currency for several years now. Google it. Britain has been talking about it over a year. Once countries start buying oil outside of US currency, it's pretty much over for the dollar. India is now doing it with Russia buying oil in Rubbles. Programmable currency is scary as heck. They can control what and where you spend your money. Oh you ate too much beef this month? no more beef for you. Your dollar won't work.

I don't see things getting better anytime soon. Once China takes Taiwan (and they will) you will have a total polarization of the globe. Either you are with US or with China. Think of all of the things China controls of ours. Its not just products like cheap goodies, medications, food processing plants, ect; but also debt.They can hurt us from a variety of areas and never fire a shot.


I know this sounds very doom and gloom; but this is the reality of what we are living. Time to wake up and start paying attention to what is happening because it is happening at an alarming rate.

I dont disagree with any of that. I just watched something from one of the financial youtube channels where it talked about how the US Dollar is pretty much the modern day Gold....the reserve currency you are talking about. It mentioned how much it benefits the US that the USD is what everyone buys and sells with.

I worry of China regularly. If we are being real, hell yea we can bomb them and Ill take our troops over theres 7 days a week and twice on sunday.....but lets be honest. If a World War popped off tomorrow....would the US win? Wasnt talked about much when it was happening, and has rarely been mentioned since......we were choked out of medical masks! All our medical grade masks come out of China. Not only was china prioritizing themselves.....they were stopping shipments to the US, from a US company. Thats scary as hell, and if thats not the definition of they have us "by the balls" then I dont know what is.

Im ok and have a tiny bit saved...but im legitimately scared/worried about the future (I recently started taking me actually making it to retirement age serious) and whats to come this and yearssssss down the road for all of us. That tiny bit I have saved seems smaller and smaller every day

I couldn't agree more Bockscar. It is very scary right now. Listen to a guy named Ray Dalio on Youtube. He is legit and explains a lot very well.

When the major banks start giving you warnings, its time to pay attention; and they have. As for your savings, be frugal, buy food, and get rid of debt as much as you can. Definitely lose the credit cards. You'll make it if you mind the pennies.

I hope the flip side is more affordable, doesn’t ever seem to go backwards though. Insane to see where new trucks and boats have gone. Only thing I do know, I used to make decent money. Now I feel like I’m in the poverty range.

There you go, get you some of the action!

https://texasfishingforum.com/forum...80/gonew/1/2022-bass-cat-erya-new#UNREAD

A lot of people have a huge tolerance for debt. If they can make the payments that's all they care about. Thr older and closer to retirement I get the more averse to debt I get. My boat and motor are 20 years old. I rebuilt the powerhead and lower unit 3-4 years ago. I don't know what I will do when the next major problem hits.

Right now I want to retire more than I want a new boat.

Pennies on the dollar ? Where exactly is this going to take place, i have a few pennies I may want to part with.

We bought a house in ‘12 for $350k that sold for $620k last April. We jumped out there after the 08’ crash. Hope to do the same with some rentals in College Station this time around. Good luck boys, the fans about to be full o’ chit.

More great news for anyone considering the purchase of a home:

and they aren't done and you think this won't affect home sells

The only good news is it may keep the large property management companies but buying homes to rent out keeping first time homeowners from having a shot at a home with a reasonable price.

Some slum lord just listed his or hers 10 duplexes in College Station yesterday, trying to take his profits now before the crash.

I too would like some additional rentals there.

Huh? They aren’t getting mortgages on these lol. The have lots of investors. It’s actually a growing trends for investors to build news homes that are for lease from day 1

The fed announced today they are raising rates 75 basis points and will look at it again in 6 weeks. They also said in order to cool demand in the market that they need to balance out supply versus demand and used unemployment as an example. They want to raise unemployment to somewhere around 4.1 percent which is still pretty low. This should help balance out demand (jobs) versus supply (workers). That means lay-offs and/or lower profits for companies who in turn will kill jobs, force early retirement, or create lay-offs. Thus balancing out supply/demand. This will also force companies to condense jobs and make 1 person do the job of 2. That's already happening and is a standard of the playbook. At this point it is unavoidable.

A big problem in Real Estate is that large investor corporations are buying up all of the homes from 0 -500k, basically taking the first time home buyer, or the middle class buyer out of the market. Those houses most likely will never see the market again and will be long-term rentals or lease houses. They will also go in and buy complete subdivisions that are in the buildout stage at a discounted price once the builder gets into financial trouble. It is a real problem and is going to force a lot of people into rental situations that normally wouldn't do so. They have turned housing into commodities effectively.

Not talking about new homes yes I know that some builders develop whole neighborhoods that will be rentals I have zero issue with those. What I talking about is the management companies that go into established neighborhoods and offer over asking to snatch up houses to rent. Some of them will even work with Section 8 folks for renters they simply don’t care as long as they get their return. It is basically ruining some older neighborhoods in my area and yes pretty sure these are financing the homes.

[
Not talking about new homes yes I know that some builders develop whole neighborhoods that will be rentals I have zero issue with those. What I talking about is the management companies that go into established neighborhoods and offer over asking to snatch up houses to rent. Some of them will even work with Section 8 folks for renters they simply don’t care as long as they get their return. It is basically ruining some older neighborhoods in my area and yes pretty sure these are financing the homes.[/quote]

Yes sir. Exactly what I am talking about/

You'll Own Nothing and Be Happy...

They lease them for a period of time to convert it to long term capital gains, as to the rates affecting big investors and some small investors they often times dont use traditional mortgage type products, they borrow against assets they already have, stock portfolios, etc.. they do this through the private bank wealth divisions and rates are not near as high...... it could well be that this situation allows they to buy more......

I get phone calls almost daily from many different numbers wanting to know if I want to sell my house. Also, cards on the door and letters in the mail. They are all working for some home leasing conglomerates.

Yeah, I don't see people who own rentals selling. The value of those homes won't drop significantly. People still gotta have a place to live and if they're not owning, they're renting. I own 3 and I'm not selling until I'm well into retirement 30-40 years from now. It's the $500k+ homes that will take a hit, where an increase from 4% to 7% is $1000/month in mortgage payment.

That's been the plan the whole time. "You will own nothing and be happy" They are working the plan I would say, except the happy part. It's more like you will own nothing and be a slave to whatever they say

I'm just waiting for the layoffs to jump to all industries. Should be showing up by the end of the year.

An insider in Mortgage lending told me today the layoff machine is up and running getting ready for some serious fallout.

Compass, Coinbase, Redfin(who I just sold the old house and who I bought the new one through) all announced layoffs.

Yes sir. Exactly what I am talking about/[/quote]

There is an area out on 380 east of Denton called Providence. They have just updated HOA rules to require all section 8 to be booted and prohibit further section 8 rentals, I don’t see how this is legal but the article is a good read and discussion about a middle class area facing this exact issue.

Whooooo, love me some democrat president. But the moron doesn’t post any mean tweets!

July will bring quarterly reports and reduced earnings guidance. Will start to go bargain shopping in about five weeks.

I just got notice from a tenant 2 days ago, I raised new rent 40 percent and have 30 people wanting to see it lol.

Maybe not; but that is today, and we are in the early stages of a recession. What about a year from now, or two when inflation still hasn't abated and people can't afford your increase any longer. I'm not disputing that people will need a place to live or will rent. It's been proven over time; but look at covid when they said you couldn't evict people. Did you get hurt during that? Investors aren't going to bleed for long before they bail out.

When you guys voted for this new Dem. President, did you really think it would cause this much economic mayhem?

Asking for a friend.

Come on now, you know they’ll say it was all Trumps fault.

Brandon has exceeded all expectations for disaster, the economic aspect is just a small part of this complete body of work.

And he isn’t even halfway done.

Hopefully, after November, he won’t be able to screw anything else up.

Ain't that the truth! I have never in my 68 years on this rock, witnessed such a catastrophic failure of a president and administration as this one.

Rumor is today, is the day around here.

It's a coming,, and Big Time.

Well stated.

I pray his health holds up - the thought of Harris or Pelosi in charge is somehow even more unappealing to me.

Update comparison through 20 months for DJIA. (Nasdaq & S&P doing even worse)

It would be over 40K right now if the election wasn't stolen.

So fun to see dems 401k's tanking!

100% of my 401K is in stable fund waiting to take advantage of the market dump. Everyday I see the market drop makes me happy. Biden is a full blown idiot.

For ones in active company matched 401k’s this is golden time they are buying cheaper shares. When it rebounds and it will eventually those cheap shares will quickly go up and the balances will shoot up. I went thru this in 2008 when it rebounded my balance shot up. Anyone not participating in a company matched 401k has zero financial sense IMO.

Much of the problem has been caused by inordinately, artificially low interest rates that has over stimulated the market causing inflation. Usually the problem shows up in the presidential cycle following the one that caused it.

you’re a gem dude

wow, just wow.


alternate reality

Didn't you hope for a recession to get rid of Trump?

Maybe as a show of bipartisanship, Biden should go hunting with Chaney...