DOW drops 640 pts, worst Christmas Eve ever for stock market

[Xoo]

Here comes the recession boys. Trump economy of handing out trillions to the rich, pointless trade wars, thoughtless foreign policy decisions, and shutting down the govt is on its way to a crash.

This coming a day after trump told mnuchin to call the CEOs of all.the major banks and assure them nothing was wrong with the economy.

It's almost like this administration is trying to force a recession.

Stock market up a thousand points today. It'll be funny if the market gets back on track in which case you clowns will say Trump has nothing to do with it.

[Xoo]

The govt will never go bankrupt.

Thanks for the laugh. You idiots have the nerve to call us dumb.

[Dumpster Juice]

Stock market up a thousand points today. It'll be funny if the market gets back on track in which case you clowns will say Trump has nothing to do with it.

Thanks Obama!

[siablo14]

The whole point of a fiat system is for the currency to not be tied to the price of gold. To be able to change the amount of "money" without changing the amount of gold one has.

Yeah and?

So did I. Just because I say something without citing a source doesn't mean it's wrong.

I asked for the links.

They created income taxes to pay for all the interest the FED gets paid. You think it's a coincidence the FED and income taxes were created in the same year? The government borrows money from the FED. How do you think America is able to rack up gigantic deficits year after year? Where do you think the money comes from?

Red - a link supporting that claim.
The government borrows from anyone who is willing to lend. How the government does it is by issuing treasury bonds and countries like Japan, China, Saudi Arabia, etc. usually flocks to buy them. The Fed will purchase some when it wants to inject money into the economy.

That has nothing to do with inflation being caused by the money supply growing faster than economic output. Prices going up because of an oil shortage is technically not inflation and not the fault of the FED.

The CPI bull**** is just a way of measuring inflation. It doesn't explain why it is happening.

CPI measures core inflation which ignores the prices of food and oil so no they wouldn't be measured in the CPI. Inflation caused by oil price increase is called cost-push inflation.

It has to do with inflation. If the Fed allows to much money to go into the money supply it will lead to inflation and the Fed will have to tighten the money supply to cool down the economy and bring inflation under control.

See above for what?

Your econ is weak old man

Nah man. Yours is but I will soon straighten you out.

Bringing in the gold system now would crash the system. Not doing so will create a bigger crash down the road.

All that gold system would do is restrict flexibility and would lead to deep busts and crazier booms.

They come in from illegally crossing the border and the HAIS helps them do it.

They need help and when they are discovered they are deported. The system is working fine. If they are committing crimes they will be caught and deported.

I estimate about 90% of them minimum will be a burden. These are low IQ people who are illiterate in their own language let alone English. These are the ones who aren't flat out criminals and gang members.

They work hard and increase their standard of living and the standard of living of their family back home. That's called pulling up your bootstraps. It should be admired.

I mean worse than the Great Depression.

Stay dreaming. Not gonna happen with a flexible Fed. It will happen if they go back to gold though.

All the FED did was use a pan killer to deal with a tooth infection. It didn't fix the tooth and the tooth will get worse. There's going to be a repeat of 2008 except worse and they probably won't be able to "fix" it this time.

Nah. The better analogy is a dentist who is capable and available all hours of the day and willing to work on any malfunction with the teeth. A flexible Fed is ready to make the appropriate moves that are required.

That might be WW3 but America won't say

"we're declaring war on China and Russia because they stopped accepting our paper money for goods and services"

Speaking of which, why did Iraq and Libya want to sell their oil for gold if American fiat dollars are so great? Aren't they the same thing? What difference does it make?
Good read, though. Such is American policy.

Because they wanted to reduce or be free from American hegemony. When Saudi Arabia made money from oil sales and wanted the safest place to store it what did they do? They invested in US treasuries.

Social Security is a ponzi scheme. So is borrowing hundreds of billions of dollars every year for deficit spending.

Social security one of the measures that has helped to increase folks standards of living. That's why the baby boomers are so pompous and comfortable. That's their welfare/entitlement.

[Vasyl’s dad]

Stock market up a thousand points today. It'll be funny if the market gets back on track in which case you clowns will say Trump has nothing to do with it.

So when market goes bad, you say “but fed raised rates”
So when market goes up a 1000, you say its because of trump.

[Xoo]

So when market goes bad, you say “but fed raised rates”
So when market goes up a 1000, you say its because of trump.

I don't really credit Trump for the stock market going up. For it to go up as much as it did doesn't make any economic sense to me.

[Vasyl’s dad]

I don't really credit Trump for the stock market going up. For it to go up as much as it did doesn't make any economic sense to me.

“clowns who will say trump has nothing to do with it” says you do credit him.

[Xoo]

“clowns who will say trump has nothing to do with it” says you do credit him.

They're clowns because anything bad that happens is Trump's fault but anything good that happens isn't.

[Terryb]

I happen to understand this stuff much better than most. So I will stay out of it. You guys are misinformed though.