Looks like the stock market is about to get a dose of reality. News that Apple is cutting iPhone production by 30% seems to have jarred traders that the recession is on.
Plenty of distractions in the news:
-Oregon standoff
-European immigration problem
-North Korea testing a Hydrogen bomb
-Star Wars
-Matin Shkreli, Pharma CEO bad boy
-Economic stats that don't mesh with reality
Edit1: -Iran and Saudi Arabia squabble
-Obama's Gun control issues
Edit2: Swiss Army General warns its citizens that need to arm themselves.
Edit3: 11pm, 6 Jan 15, China's Market crashes in 15 min after opening, closes down 7% for the day. World markets will be in trouble tomorrow morning.
dontwatchtv ago
It becomes a negative feedback loop. If the average Joes knew that a major recession is on the way, he may wait to buy a new car, new house, new appliances, etc. Thus, making the recession worse.
Furthermore, by the time the average Joe figures out the market is going down, he has lost 15-20% on his investments. He doesn't realize it will go down another 15-20%. When it does go down, he panics and sells at the bottom. Which is great for the traders.
dontwatchtv ago
It's up $23 since this morning. I think it can go to $1600--where it peaked a few years ago-- in the short run. A stock market crash would bring it back down, though, because of traders having to cover their positions.
Or if the whole house of cards fall down, including all the fake paper gold, physical gold can go to $5k+.
creep ago
Canada's currency is already in freefall.
hwong ago
Hasn't every major market on the planet started to crash since the new year? How much longer can it go on I ask myself and I am totally supersized it hasn't happened already (the crash) http://theeconomiccollapseblog.com/archives/stock-markets-all-over-the-world-crash-as-we-begin-2016
Konran ago
Yep. We should all recognise that they can only kick that particular tin can down the road for so long.
Tbh I'm amazed they've managed to kick it this far.
404_SLEEP_NOT_FOUND ago
mig2k ago
So does it surprise anyone that President Hussein wants to disarm everyone??
respondwithdata ago
We hung President Hussein because he wanted to get off the Petrodollar and sell oil for Gold Dinar. Do you even conspiracy bro?
Migrantworker ago
Barrack Hussein Obama wants to disarm citizens, do you even conspiracy theory bro?
respondwithdata ago
So Hussein was hung and Obama is hung?
(get it, because he is black)
respondwithdata ago
Yeah don't march. They will have your face.
respondwithdata ago
There is no recession, we have .25% Interest now on our absolutely based-on-reality monetary system!
dontwatchtv ago
Don't forget full employment! Unemployment is at 5%.
respondwithdata ago
Yeah that number too good call.
http://www.gallup.com/opinion/chairman/181469/big-lie-unemployment.aspx
pitenius ago
There has been an economic time bomb of the discrepancy between wages and pooled capital for a while now. It's more likely to luck into a significant amount of money than earn it. That has real repercussions for a morality based in labor.
dontwatchtv ago
Corporations have been stockpiling cash since the last recession of 2009 and have kept wages low despite rising productivity. We'll see how fast corporation will cut production and labor in the next year as things slow down. Apple and the Financial industry seems to be ahead of the curve.
Lag-wagon ago
Please read my comment from a few days ago:
https://voat.co/v/askgoat/comments/763923/3761548
pray_the_gay_away ago
This is about to be the biggest, most devastating economic crisis in the history of the planet. It will be one marked by sovereign debt crisis in developing markets which will likely cause about half of the world's currencies to collapse.
Checkout this sovereign default probabilities calculator and see for yourself: https://www.dbresearch.com/servlet/reweb2.ReWEB?rwnode=DBR_INTERNET_EN-PROD$NAVIGATION&rwobj=CDS.calias&rwsite=DBR_INTERNET_EN-PROD
dontwatchtv ago
Also, countries are devaluing their currencies--especially China. I think Gold is about to make a run.
Edit1: 11pm, 06 Jan 15, Gold up $23 to $1099.
dontwatchtv ago
Yup, every country has been borrowing and printing money like crazy, At some point they will want to crash the system and start over.