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Started By
Message
Stock Market Crashing after Fitch downgrade. CEA Chair blaming, drum roll, Orange Man Bad.
Posted on 8/2/23 at 10:13 am
Posted on 8/2/23 at 10:13 am
Shocking.
7
Posted on 8/2/23 at 10:19 am to Ernest T Bass
The downgrade was based in part on the very partisan environment in which the opposition is being criminalized.
OMB is related to this but not how they are portraying it.
OMB is related to this but not how they are portraying it.
Posted on 8/2/23 at 10:20 am to Ernest T Bass
It's only down 1-2% depending on index.
We need a correction. (Full disclosure by investment disposition is currently short on the market.)
We need a correction. (Full disclosure by investment disposition is currently short on the market.)
Posted on 8/2/23 at 10:21 am to teke184
quote:
The downgrade was based in part on the very partisan environment in which the opposition is being criminalized.
And unrestrained spending.
Posted on 8/2/23 at 10:23 am to teke184
They are really grasping here...this market has been a playground for manipulators the past 2 years
Posted on 8/2/23 at 10:25 am to Houag80
quote:
They are really grasping here...this market has been a playground for manipulators since 1971.
FIFY
Posted on 8/2/23 at 10:27 am to Ernest T Bass
A .64% slide is hardly a crash
Posted on 8/2/23 at 10:33 am to ELVIS U
Nasdaq is down over 2 percent, s&p down over 1 percent
Posted on 8/2/23 at 10:37 am to Ernest T Bass
Gave up on your LeeVanQueef alter?
Posted on 8/2/23 at 11:03 am to Ernest T Bass
Not being president for 3 years but still being blamed. What’s new? Everybody jump in. Water’s warm.
Posted on 8/2/23 at 11:05 am to Giantkiller
quote:
Not being president for 3 years but still being blamed. What’s new? Everybody jump in. Water’s warm.
And 3 years into his term it was still Obama that had the economy rolling!
Posted on 8/2/23 at 11:06 am to Ernest T Bass
Crashing?
Nah not even close.
Knee jerk reaction by investors yes
Nah not even close.
Knee jerk reaction by investors yes
Posted on 8/2/23 at 11:08 am to canyon
Nasdaq down 360, 2.5 percent
SP down 1.5 percent.
SP down 1.5 percent.
Posted on 8/2/23 at 11:08 am to Ernest T Bass
Fun fact: August is generally the worst month for the market.
Posted on 8/2/23 at 11:15 am to teke184
quote:
The downgrade was based in part on the very partisan environment in which the opposition is being criminalized.
This is not politics.
We are above our GDP in debt and when that happens, we are over leveraged as a nation. That calls into question the ability to pay on the debt obligations or bonds that are issued.
Debt has been accumulating for decades-
Bush, bush, Obama, trump… all added to the massive debt load.
Interest rates are up and the rates for that debt payment is going up. That too is a problem.
Luckily the downgrade isn’t massive. Luckily too we have a massive military so anyone we want to stiff in our debt obligations can suck it.
This post was edited on 8/2/23 at 11:23 am
Posted on 8/2/23 at 11:19 am to SlidellCajun
quote:
we want to stiff in our debt obligations
That is actually the reason.
It used to be that the budget bill would be held up for political reasons. Now the House doesn't even need a budget, they just use a resolution. So now they use our debt obligations as leverage for political negotiations. Creditors don't like being used as political pawns. Hence the downgrade.
Posted on 8/2/23 at 11:21 am to Ernest T Bass
not anymore, go troll the MT board
Posted on 8/2/23 at 11:37 am to GumboPot
quote:
They are really grasping here...this market has been a playground for manipulators since 1913.
FIFY
FIFY again
Posted on 8/2/23 at 11:40 am to teke184
quote:
The downgrade was based in part on the very partisan environment in which the opposition is being criminalized.
Not really. The GOPe is complicit. The last forty years they have done NOTHING but strong letters and campaign off this.
The GOPe is owned by Wall Street, at the expense (literally) of Main Street and the working class.
Posted on 8/2/23 at 11:52 am to Ernest T Bass
quote:
Stock Market Crashing
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