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Sanrith Descartes

Sanrith Descartes

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Big Phoenix said:
I dont get that day off :(
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Leonardo Dicaprio Reaction GIF
 
Fogel

Fogel

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DIS down 5% in PM and under its major support area of 168-170
 
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Mist

Mist

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Shonuff said:
Wow, he actually admitted it.

nypost.com

Biden concedes his COVID stimulus checks fueled spike in inflation

President Biden insisted inflation is at a three-decade high because “people have more money now” as a result of his $1.9 trillion COVID-19 stimulus legislation.
nypost.com nypost.com
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Article is incredibly misleading, does not put the numbers in the right perspective.

All 3 stimulus checks (the two under Trump and the one in 2021) add up to $850-$900 billion. The extended unemployment cost about $152 billion, spread across the two administrations. The childcare tax credit costs about $160 billion a year. PPP alone was $953-billion, with an additional $1.8 trillion in other spending and handouts to businesses.
 
Big Phoenix

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So with Evergrande no one knows Wtf is going on. That "default" yesterday might just be fud from activist investors.

Basically the defaulting originates from a single obscure German organization that holds a small amount of evergrande debt that they say they did not receive interest payments on;


 
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Shonuff

Shonuff

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Mist said:
Article is incredibly misleading, does not put the numbers in the right perspective.

All 3 stimulus checks (the two under Trump and the one in 2021) add up to $850-$900 billion. The extended unemployment cost about $152 billion, spread across the two administrations. The childcare tax credit costs about $160 billion a year. PPP alone was $953-billion, with an additional $1.8 trillion in other spending and handouts to businesses.
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I thought you were the one that was supposed to be super high IQ?

"“The irony is people have more money now because of the first major piece of legislation I passed. You all got checks for $1,400. You got checks for a whole range of things,” Biden said during a speech in Baltimore.

“If you’re a mom and you have kids under the age of 7, you get $300 a month and if it’s over 7 to 17, you’re getting $360 a month,” he said, misstating the second amount, which is $250 per month.

“It changes people’s lives. But what happens if there’s nothing to buy and you got more money to compete for getting [goods]? It creates a real problem,” Biden said."
 
Shonuff

Shonuff

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There's no way to change that quote or misinterpret it.

Sometimes, politics touches stocks and you can't separate them. But this is going to be a huge derail, so take that over to the political thread.

I'm not arguing politics.
 
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Tmac

Tmac

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Sanrith Descartes said:
Moral of this story is you can't fight the Fed.

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This is why I am returning capital. Markets have now become a political choice. US markets are essentially a bet on the Fed unable to raise rates, and congress unable to regulate big tech or raise corporate tax rates. Commodity markets have now become a bet on Chinese policy objectives, and currencies have become a bet on what Chinese policy objectives are too.

Give me an economic problem, then I can properly gauge risk. Give me a Chinese political problem – I am taking a guess as much as the next person. Did I think Alibaba was going to fall 50% this year? No, not until the Chinese government told me to think that way. Is Alibaba a good short now? I have no idea, and like everyone else will have to wait to see what the Chinese government says.

So, I think it time to step back, have a think about where we are going, and then come back when I can see an opportunity for my skill set. Perhaps that’s never, but I doubt it. The only constant in life is change.
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I guess the reality here is it's impossible to be a contrarian when stonks only go up?
 
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fris

fris

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much like how the US beat Russia not through war but through a (more) solvent economy, so will we beat China (not my quote but makes sense to me)
 
Furry

Furry

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Tmac said:
I guess the reality here is it's impossible to be a contrarian when stonks only go up?
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Yea, not very smart to go contrarian on things now. It's been pretty obvious that inflation was coming since mid last year. The fed has just been way, way too loose on the purse strings on top of congress showering people in money it doesn't have. It's only natural that a lot of that free money found its way into the stock market.
 
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