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Business, Economics, and Taxes: Eat Cereal for Dinner

St. Clown said:
Woof. I took my daughter to see the new Despicable Me movie in the theater. (Wife is out of town, and so on…)

Two tickets, a large popcorn, pop, a thing of candy and an Icee $51 and change at AMC in IGH. And the popcorn was probably from last night - early last night - along with no ice in all four of the dispensers. This is why I seldom go to a movie at the theater anymore. The classic movie experience just isn’t worth it anymore.
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Dat Maxime Le Mal, tho…..
 
Yep, global downturn with uncertainty in all markets.

*edit* Doesn't help that Buffett sold 50% of his stock in Apple to raise cash (expecting the market to drop and then buy in again).
 
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The best possible thing you could do today is to not watch CNBC. Those clown prince jackasses have gotten everything about AI wrong so far. And they'll refuse to blame this on what it is, a partial reckoning, instead they'll probably call this a broad market downturn. Which is a mistake if you look at where the losses are concentrated and then look at the fundamentals.

I don't know what the Bank of Japan is hoping for here, but they lit the fire. Now we'll see what Powell does.
 
dxmnkd316 said:
It's not a slowdown, it's AI's bubble bursting.
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It boggles my mind that people paid to know didn't see it coming. The tech companies always get super-inflated based on junk, the investor class always eats it up and jacks the value up, and then the bottom falls out. Then they act shocked like it hasn't happened before. Falling for the AI revolution was so stupid it is beyond laughable.

The nice thing is a bunch of Tech Bros just lost a lot of money on paper. Tesla is continuing to tank hard so not all is bad.

Overall though the US markets could be way worse off but it is early.
 
dxmnkd316 said:
The best possible thing you could do today is to not watch CNBC. Those clown prince *******es have gotten everything about AI wrong so far. And they'll refuse to blame this on what it is, a partial reckoning, instead they'll probably call this a broad market downturn. Which is a mistake if you look at where the losses are concentrated and then look at the fundamentals.

I don't know what the Bank of Japan is hoping for here, but they lit the fire. Now we'll see what Powell does.
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Half of CNBC will likely blame it on Biden probably because they have their heads so far up Trump's ass there is an orange streak down their back. A lot of those phuckwits are as incompetent as the average Faux Bottle Blonde Host.

I wonder how much China plays into this. Apple for sure can blame some of their issues on not being able to get the market penetration in China they wanted (some speculate that is one of the reasons Buffet sold now before the dividend pays out) and the fact is American Tech companies have always struggled to get traction there.

I have no idea why Japan is having issues, I know zero about their economy. Am I reading right that they may have triggered this by raising interest rates to fight inflation?
 
Handyman said:
It boggles my mind that people paid to know didn't see it coming. The tech companies always get super-inflated based on junk, the investor class always eats it up and jacks the value up, and then the bottom falls out. Then they act shocked like it hasn't happened before. Falling for the AI revolution was so stupid it is beyond laughable.

The nice thing is a bunch of Tech Bros just lost a lot of money on paper. Tesla is continuing to tank hard so not all is bad.

Overall though the US markets could be way worse off but it is early.
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Not necessarily. The investor class probably did see it coming and bailed already, leaving the regular schmoes stuck without a chair once the music stopped.

Same with a lot of the tech bros. They may have lost part of the value of the holdings in their companies they have in stock, but they probably also bailed on some of it early, or shorted it, or whatever else they do to leverage risk that the peons don't have access or ability to do.
 
So, if the market rising the past bunch of months has been because Wall Street was foreseeing a Dementia Donnie election win and betting accordingly(according to Dementia Donnie), does this mean they now see him losing?
 
Worth noting the VIX is already back to open levels.
most of the S&P has recovered the bulk of their losses. The tech stocks are still hurting.

VIX is back down below open levels.
 
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Handyman said:
It boggles my mind that people paid to know didn't see it coming. The tech companies always get super-inflated based on junk, the investor class always eats it up and jacks the value up, and then the bottom falls out. Then they act shocked like it hasn't happened before. Falling for the AI revolution was so stupid it is beyond laughable.

The nice thing is a bunch of Tech Bros just lost a lot of money on paper. Tesla is continuing to tank hard so not all is bad.

Overall though the US markets could be way worse off but it is early.
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CNBC hosts are by and large there to get the masses to do what the investor class wants them to do. They're just pitchmen. It's fine on the way up, but less so when it comes time to hold the bag.
 
rufus said:
Not necessarily. The investor class probably did see it coming and bailed already, leaving the regular schmoes stuck without a chair once the music stopped.

Same with a lot of the tech bros. They may have lost part of the value of the holdings in their companies they have in stock, but they probably also bailed on some of it early, or shorted it, or whatever else they do to leverage risk that the peons don't have access or ability to do.
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I meant the pundits and "experts". Investors got it obviously which is why Buffett sold half his Apple shares.
 
dxmnkd316 said:
CNBC hosts are by and large there to get the masses to do what the investor class wants them to do. They're just pitchmen. It's fine on the way up, but less so when it comes time to hold the bag.
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I feel like this should be their tag line ;)
 
rufus said:
Not necessarily. The investor class probably did see it coming and bailed already, leaving the regular schmoes stuck without a chair once the music stopped.

Same with a lot of the tech bros. They may have lost part of the value of the holdings in their companies they have in stock, but they probably also bailed on some of it early, or shorted it, or whatever else they do to leverage risk that the peons don't have access or ability to do.
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Yeah, this. It is so irritating.
 
Yeah all this freak out and the Dow is still above 38k. Roughly the same range it was 6 months ago. THE HORROR!

Same with NASDAQ.

S&P is in the same range it was in May...after a drop in April.

People are stupid.
 
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