FelixDeCat
Lifer
- Aug 4, 2000
- 29,101
- 2,014
- 126
Holy Carp! SLV (silver ETF) jumps 4.375% .... silver spot price up +$1.20 from $18.20 to $19.40 an ounce on signs economy headed for recession.
Better hope no hurricanes shut down the Gulf of Mexico if you do that.oil is rising.
time to short at end of month, just like last year (sept 2018)
I suspect now the speculation will be that there will be no unnecessary cuts in September or October, especially with continuing strong economic data coming in.
Welp, Chairman Powell has indicated what appears to be a neutral stance on the need for more rate cuts. The metals complex (gold, silver, platinum, etc.) went into free-fall the last two trading sessions, with silver being hit the hardest.
I suspect now the speculation will be that there will be no unnecessary cuts in September or October, especially with continuing strong economic data coming in.
In addition, the expectation that China will reach some sort of deal in October has been priced in, when it is highly unlikely any deal will be reached. Remember, China made a concession earlier this year then walked away from it.
Finally, we have the worst month for stocks right around the corner.
Lets see what happens.
Median income is flat over the last year despite previous 4 years of steady gains (what were those tax cuts supposed to do again? Oh yeah--the top 1% are vastly more wealthy! yay!).
the tariff situation is actually getting worse, because middle america is starting to take it in the chin with Trump's tariff's crushing their purchasing power. ...all this despite near record-low unemployment.
No, the data coming in is not great.
TBH there has not been much impact on the consumer. In fact, the consumer is often cited as the reason for strength in the economy. Just watch CNBC, they will tell you this. Its oft repeated by economists and big money managers.
We must make China stop its unfair trade practices. We must also also diversify supply chains AWAY from China. The only way to make this happen is by economic force. China had grown so powerful that they were able to take advantage of us at will. This must end.
Weening us off China will bring pain for sure, but the outcome will be worth it. Look at the big picture.
Honest question: Why is China being the USA of c. 1915-1948 a bad thing for humans?
There might be $1.2billion people that disagree with some pissant 400million people....just saying, bropants.
(not that I disagree from my perspective, but I ask from another perspective--that's one of those tools that proper education unleashes for you)
.....then I will point you to the old addage "two wrongs do not make a right".
Then why the eff do you still support Trump?
Odds of a rate cut have fallen to just 80%, so there is some creeping doubt that the cut is happening. You wanna gamble that they don't cut, could buy some SPY/QQQ puts and clean up if they do indeed not cut rates.
Median income is flat over the last year despite previous 4 years of steady gains (what were those tax cuts supposed to do again? Oh yeah--the top 1% are vastly more wealthy! yay!).
Globalism baby. That median income used to be something that was between the middle class of US and only that. Now you have to compete the middle-class globally.
I honestly think there is nothing that can be done there. You could try regulations (e.g. increase minimum wage) but it will only be temporary and serve to make outsourcing/automation be completed quicker.
I'm talking about the US median income which is only looking at US salaries. It isn't globalism (which generally makes things cheaper to buy, and for the employers, mindless automatons cheaper to employ while they generally get wealthier and wealthier).
It's explicitly the Reagan effect. No longer punish the bosses for keeping that money, no longer incentivize them to put it back into their employees pension funds and their business, just let them keep it and by the grace of their pure hearts, they will just "pay it back somehow."
George HW called it "voodoo economics" He was very much anti-Reagan, and the last real conservative that the GOP has ever seen. It's why he had to do the right thing and raise taxes during his term to buffer the blowback from that voodoo horseshit that, to this day, the GOP still worships like the fatted calf.
Your salary and my salary isn't going to newly-enriched blue collar, middle class workers on the other side of the ocean; it's just going to the same bosses that have been here all along, and they are keeping it.
The US hasn't seen this current 20% wealth gap from the top 5% to the bottom 95% since 1927-1929. This 20% gap happens all around the world, just ahead of major depressions and bloody, bloody revolutions. If one of those don't happen now, it would be the first time in human history that what we are currently experiencing doesn't lead to bloody revolution or severe, nation-crippling depression.
Im guessing that this Chinese delegation visit will not result in much progress.
...and the stock market mistakingly priced a deal into market.
If no progress is made, watch out! October is right around the corner.
There is no reason for China to make a deal. They can't be pricing that in, that would be silly. I guess it's more good business for the vol bots.