Paducah Home Theater Posted August 21, 2015 Share Posted August 21, 2015 (edited) What is going on with this economy? I could have told you just from the boots on the ground report that something is up but it's more than that: oil is tanking http://www.bloomberg.com/news/articles/2015-08-20/oil-heads-for-longest-weekly-losing-streak-since-1986-amid-glut The DOW has lost nearly 1,000 points in the past few days, 300 today alone: http://www.wsj.com/articles/global-stocks-continue-to-fall-on-china-worries-1440144990 currencies are falling all around the world http://hosted.ap.org/dynamic/stories/U/US_WORLD_ECONOMY_CURRENCY_CHAOS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2015-08-21-13-06-16 steep drop in factory orders in general, lowest activity in 6 years http://www.cnbc.com/2015/08/17/new-york-state-factory-activity-tumbles-to-lowest-since-2009-ny-fed.html debt is at a record high, which is good or bad, depending on who you ask http://www.cnbc.com/2015/08/10/us-consumer-borrowing-hits-another-record-in-june.html Chinese stocks are being devastated, still losing over 4% a day http://www.bbc.com/news/business-34013405 7 million Americans haven't made a student loan payment in a year, may be unrelated to this other stuff but that's an insane number http://www.wsj.com/articles/about-7-million-americans-havent-paid-federal-student-loans-in-at-least-a-year-1440175645 some are even saying China is even waging economic war http://www.glennbeck.com/2015/08/20/glenn-says-this-video-about-china-will-send-a-chill-up-your-spine/ http://www.nytimes.com/2015/08/13/upshot/the-more-chinas-currency-falls-the-more-it-looks-like-a-currency-war.html?ref=economy&_r=0&abt=0002&abg=0 apparently we're in the middle of a massive commidity bubble that is bursting http://www.newsmax.com/Finance/StreetTalk/Ed-Yardeni-commodity-bubble-economy/2015/08/20/id/671053/ opinions? Edited August 21, 2015 by MetropolisLakeOutfitters 1 Quote Link to comment Share on other sites More sharing options...
cradeldorf Posted August 21, 2015 Share Posted August 21, 2015 The rich are done lining their pockets. now the reality sets in. Quote Link to comment Share on other sites More sharing options...
JL Sargent Posted August 21, 2015 Share Posted August 21, 2015 In 1980 at the ripe old age of 17 years I paid 18% interest to buy a Trans Am car and I shopped around to get that low price. Just as crazy, fixed rate CDs were paying 9.95% to walk in customers back then. So back then I borrowed at the wrong time. Now I'm trying to save. You got it, wrong time again. 1 Quote Link to comment Share on other sites More sharing options...
HOGFAN Posted August 21, 2015 Share Posted August 21, 2015 .....and you're goin to get mugged if you go down town.......I live back in the woods ya see, my woman and my kids and my dogs and me..... The stock market has defied many other economic indicators for the past couple years or more....I'm afraid we are seeing some normalizing take place. Hogfan 2 Quote Link to comment Share on other sites More sharing options...
Paducah Home Theater Posted August 21, 2015 Author Share Posted August 21, 2015 .....and you're goin to get mugged if you go down town... Wondered who else would get the reference. Quote Link to comment Share on other sites More sharing options...
JJkizak Posted August 21, 2015 Share Posted August 21, 2015 Technically speaking "Investors are selling". JJK Quote Link to comment Share on other sites More sharing options...
Paducah Home Theater Posted August 21, 2015 Author Share Posted August 21, 2015 Technically speaking "Investors are selling". JJK They sold another 140 points off the DOW just since I started typing this. Momentarily dropped over 500 just today, that would have put it in about the top 10 worst 1 day losses of all time had that stuck. 1 Quote Link to comment Share on other sites More sharing options...
billybob Posted August 21, 2015 Share Posted August 21, 2015 North Korea? Quote Link to comment Share on other sites More sharing options...
Ski Bum Posted August 21, 2015 Share Posted August 21, 2015 No rate hike, moar QE? I'm actually quite glad for any market correction. It is long overdue. I'll wait until the streets are flowing with blood before committing, but I've got my shopping list and the sales are about to begin! 4 Quote Link to comment Share on other sites More sharing options...
billybob Posted August 21, 2015 Share Posted August 21, 2015 It has been bubblish for some time now...correction was expected by some. Quote Link to comment Share on other sites More sharing options...
Tarheel Posted August 21, 2015 Share Posted August 21, 2015 No rate hike, moar QE? I'm actually quite glad for any market correction. It is long overdue. I'll wait until the streets are flowing with blood before committing, but I've got my shopping list and the sales are about to begin! Started nibbling this afternoon....Apple @107 Corning @16.96 2 Quote Link to comment Share on other sites More sharing options...
BigStewMan Posted August 21, 2015 Share Posted August 21, 2015 (edited) In 1980 at the ripe old age of 17 years I paid 18% interest to buy a Trans Am car and I shopped around to get that low price. Just as crazy, fixed rate CDs were paying 9.95% to walk in customers back then. So back then I borrowed at the wrong time. Now I'm trying to save. You got it, wrong time again. ah, i remember those days…yes, the misery index was high; but, i was doing alright. Has some CDs in 1979-1980 I made a killing off the interest. Edited August 22, 2015 by BigStewMan 1 Quote Link to comment Share on other sites More sharing options...
The Dude Posted August 21, 2015 Share Posted August 21, 2015 Glad I just singed my refinance yesterday at 3.2%. 6 Quote Link to comment Share on other sites More sharing options...
akdave Posted August 21, 2015 Share Posted August 21, 2015 It corrects periodically. Each time it does, "it's different". It will go back up after a few days, weeks, months. Predictions of imminent doom and destruction of the market (& the dollar) will continue. Google "stock market crash and/or dollar crash", then change the year behind the search and you will find a myriad of "they've never been wrong" predictions showing that in each respective year each institution will find it's ultimate demise. The noodles continue to be thrown against the wall by the person/organization selling you the "real scoop". The dollar is dying so send us some of your soon to be worthless dollars and we'll tell you why to panic. Wait... why do you want my money if it's going to be worthless?... 3 Quote Link to comment Share on other sites More sharing options...
JJkizak Posted August 21, 2015 Share Posted August 21, 2015 Glad I just singed my refinance yesterday at 3.2%. I would be singing too. JJK Quote Link to comment Share on other sites More sharing options...
Fjd Posted August 21, 2015 Share Posted August 21, 2015 Glad I just singed my refinance yesterday at 3.2%. And I thought I was doing fairly well when I locked in a 16% mortgage loan rate and the rates proceeded to hit ~ 18.5% during 1981 for a mortgage loan. 3 Quote Link to comment Share on other sites More sharing options...
BigStewMan Posted August 21, 2015 Share Posted August 21, 2015 Glad I just singed my refinance yesterday at 3.2%. And I thought I was doing fairly well when I locked in a 16% mortgage loan rate and the rates proceeded to hit ~ 18.5% during 1981 for a mortgage loan. i wasn’t financing anything during those years; but, looking back i feel sorry for all those that had to endure that. Quote Link to comment Share on other sites More sharing options...
Fjd Posted August 22, 2015 Share Posted August 22, 2015 Glad I just singed my refinance yesterday at 3.2%. And I thought I was doing fairly well when I locked in a 16% mortgage loan rate and the rates proceeded to hit ~ 18.5% during 1981 for a mortgage loan. i wasn’t financing anything during those years; but, looking back i feel sorry for all those that had to endure that. Fortunately this trend of high rates changed. At the 18% interest rate over the traditional 30 year mortgage period the total of the payments would have resulted in about 82% of the total payments going toward interest and about 18% for the actual house purchase. Quote Link to comment Share on other sites More sharing options...
babadono Posted August 22, 2015 Share Posted August 22, 2015 "Markets will fluctuate" a wise man once told me. Quote Link to comment Share on other sites More sharing options...
Jim Naseum Posted August 22, 2015 Share Posted August 22, 2015 The Chinese economy, after growing at a fast clip for 15 years, has slowed significantly. American companies who export rely on all retail growth from China. Apple for instance, relies on growth out of China. When the growth stops, the stocks begin to be shorted. China is reportedly 30% of Apple revenue. Apple is the highest valued company in the world. Its a good time to buy stocks in quality companies. Quote Link to comment Share on other sites More sharing options...
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