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Market meltdown

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  • Market meltdown

    Is it 'just' because Saudi Arabia and Russia are fighting, or something more?
    Remember that you are dust and to dust you shall return.

  • #2
    It's because of fears about COVID-19 and the market supply being interrupted. Factories in China have shutdown for example, which leads to shortages of various imported items, like iPhones. Also consumer fears could lead to people avoiding various Chinese products. If the disease gets into the public, people will stop going out into public to shop, etc.

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    • #3
      Today it was exacerbated by oil dropping to $28/barrel. While our economy has historically done very well when energy is cheap these sort of sudden shifts (whether good or bad) send shock waves through the stock market.

      I'm always still in trouble again

      "You're by far the worst poster on TWeb" and "TWeb's biggest liar" --starlight (the guy who says Stalin was a right-winger)
      "Of course, human life begins at fertilization that’s not the argument." --Tassman

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      • #4
        Man the torpedoes, full speed ahead!

        Fed pumps almost 200 billion into the market.

        And this is still just repo, QE-lite, wait until the REAL QE is announced. That's coming.
        "I was the CIA director. We lied, we cheated, we stole, it was like... we had entire training courses. It reminds you of the glory of the American experiment." - Mike Pompeo, Secretary of State (source).

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        • #5
          Just because I'm pedantic, I believe the quote is "damn the torpedoes".

          There's no clear end in sight between Russia and Saudi Arabia, and no clear nadir for oil prices.
          "I am not angered that the Moral Majority boys campaign against abortion. I am angry when the same men who say, "Save OUR children" bellow "Build more and bigger bombers." That's right! Blast the children in other nations into eternity, or limbless misery as they lay crippled from "OUR" bombers! This does not jell." - Leonard Ravenhill

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          • #6
            Originally posted by KingsGambit View Post
            Just because I'm pedantic, I believe the quote is "damn the torpedoes".

            There's no clear end in sight between Russia and Saudi Arabia, and no clear nadir for oil prices.
            At one end of the street that my tiny subdivision is off of gas is $2.34/gallon. At the other end it's $1.87/gallon.

            I'm always still in trouble again

            "You're by far the worst poster on TWeb" and "TWeb's biggest liar" --starlight (the guy who says Stalin was a right-winger)
            "Of course, human life begins at fertilization that’s not the argument." --Tassman

            Comment


            • #7
              Originally posted by seanD View Post
              Man the torpedoes, full speed ahead!

              Fed pumps almost 200 billion into the market.

              And this is still just repo, QE-lite, wait until the REAL QE is announced. That's coming.
              Boom!

              Fed to pump 1.5 trillion in official QE program.

              Release the hounds!
              "I was the CIA director. We lied, we cheated, we stole, it was like... we had entire training courses. It reminds you of the glory of the American experiment." - Mike Pompeo, Secretary of State (source).

              Comment


              • #8
                Originally posted by demi-conservative View Post
                Is it 'just' because Saudi Arabia and Russia are fighting, or something more?
                The market crash has nothing to do with oil, it's the covid-19 pandemic. The U.S. is a service economy, the pandemic is going to keep everyone at home, no restauraunts, movies, shopping, sporting events, concerts, salons, cruises, vacations, you name it, people won't be spending, and the market knows its coming, thus the crash.

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                • #9
                  Originally posted by seanD View Post
                  Finally
                  Remember that you are dust and to dust you shall return.

                  Comment


                  • #10
                    They're going all in.

                    Fed lowers interest rates to zero.

                    You'll know we're in a bonafide all-out economic collapse if this doesn't work. And we're royally screwed if it doesn't work, because Fed has emptied all its guns.
                    "I was the CIA director. We lied, we cheated, we stole, it was like... we had entire training courses. It reminds you of the glory of the American experiment." - Mike Pompeo, Secretary of State (source).

                    Comment


                    • #11
                      How significant is it that they didn't wait for the scheduled FOMC meeting?
                      Remember that you are dust and to dust you shall return.

                      Comment


                      • #12
                        Originally posted by demi-conservative View Post
                        How significant is it that they didn't wait for the scheduled FOMC meeting?
                        Hugelt significant, because it indicates they saw red flags and couldn't wait, had to act immediately.

                        Btw, futures were cratering tonight, to the point they had to shut it down. Which means, it ain't looking too good.
                        "I was the CIA director. We lied, we cheated, we stole, it was like... we had entire training courses. It reminds you of the glory of the American experiment." - Mike Pompeo, Secretary of State (source).

                        Comment


                        • #13
                          Originally posted by seanD View Post
                          They're going all in.

                          Fed lowers interest rates to zero.

                          You'll know we're in a bonafide all-out economic collapse if this doesn't work. And we're royally screwed if it doesn't work, because Fed has emptied all its guns.
                          Well, it doesn't look like it helped

                          I'm always still in trouble again

                          "You're by far the worst poster on TWeb" and "TWeb's biggest liar" --starlight (the guy who says Stalin was a right-winger)
                          "Of course, human life begins at fertilization that’s not the argument." --Tassman

                          Comment


                          • #14
                            Bout 10,000 DOW points from Trump's inauguration... poof, gone. To get some perspective of what a "big fat ugly bubble" is -- It took about three weeks to lose what was built up for about three+ years. And I don't think it's done. We'll see if Fed heroin injections can get the heroin market junkies back in the game.
                            "I was the CIA director. We lied, we cheated, we stole, it was like... we had entire training courses. It reminds you of the glory of the American experiment." - Mike Pompeo, Secretary of State (source).

                            Comment


                            • #15
                              Another half trillion. More, more!
                              Remember that you are dust and to dust you shall return.

                              Comment

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