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If you love money....don’t look at the stock market right now.

If you have some spare money now is the time to spend it.
trump made the stock market on sale for Christmas!
He’s an idiot.

I wouldn’t buy right now. There’s a major chance we can still get it cheaper due to there being no sign of it going up.

Well, it's definitely hard to time the market but where does this end??

I bought Amazon at $1425 when Trump put it on sale with his ludicrous BS about them not playing fair with USPS. It's time to start cost averaging soon (I wanted more anyway but was waiting this out). With a high of over $2000, it's easy to assume it is now undervalued, the elephant in the room says the entire market was greatly overvalued.

What to do?

Talk to your advisor bro.

Mine is telling me to hold off on everything but futures. So any emerging markets like weed or something might be a safe buy, but we’re pretty much in a bear market. Tech stocks are tanking. What’s worse is investment messengers aren’t sure if it’s the correction, or if it’s the onset of a recession most economists are predicting.

Bank stocks are down. Oil is down big.

Gold and silver are trading up really well. Gold is at an all time high.

I’m holding my money. Dollar cost averaging some on the way down but holding back big money until I feel we’re closer to the bottom. As long as trump is in office there’s so much more room for it to drop.

I’m buying stocks bit by bit for he weed markets, but I’m not making any huge buys until after this trade deadline with the Chinese. That’s leading to a lot of uncertainty, and if we don’t get this under control, it could get ugly.

All I hope is that the market starts rebounding. But even if it trades up today out of nowhere, we’re still down big for the year.

One of my favorite Trump confused elderly man rants ever-

He thinks that “free shipping” means that Amazon doesn’t have to pay anything, and the USPS has to eat the cost and ship the packages for free.

my god.

the dow closed down 653 points, at 21,792.

thats august of last years level.

dow is down 2.91% just for today alone. nasdaq down 2.21%, and s&p500 down 2.71% for the day.

economist and advisors are saying it would've been way worse if the markets didn't close early today.

well, guess Santa either got murdered by the russians, or decided to stay home.

the dow is down 14.67% for the month of december.

We’re due for a pretty big crash soon, but certainly an elderly child who doesn’t understand the basics of economics shouting about the Fed on Twitter is going to cause volatility.

What causes Volatility is people crying about making or losing money on PAPER.

Zoom Zoom!

Zoom Zoom arrives and lasts a few weeks into the New Year!
Santa Rally arriving just a bit late but will run longer.

Stand by for Mon-nahhhh

Looks like we’re in what’s called a ‘dead cat’ bounce.

Atleast we recouped the losses from Monday. We’re still down huge for the month and overall year. We will see if this is a dead cat bounce or something slightly more sustainable.

That is one big cat! Lion maybe?

Good to see. 770 points up as of now on the Dow.

Yea I’m glad it’s rebounding. Lets hope it continues cause I don’t want to see people’s retirement funds dropping like that.

I mean, we’re headed for another crash one way or the other.

Obama’s response to ‘08 was basically to fork over taxpayer money to the people who caused it, and putting in a few toothless measures that were wiped away by the next administration.

The jump in the market we saw was basically the result of stock buybacks after the tax cuts.

The true root causes were never addressed. We just kicked the can down the road.

Dow up over 1000 points and climbing!
Zoom Zoom Santa!

We’re at a loss for the month still. Cool it with the zoom zoom til we’re completely out the clear.

Dow rallies 1,000 points, logging its biggest single-day point gain ever

https://www.cnbc.com/2018/12/26/us-futures-following-christmas-eve-plunge.html

And what root causes were those?

Banks making ridiculously low-odds gambles with people’s investments, while lending to borrowers who were unlikely to repay them.

To be fair to Obama, while the whole fiasco was handled terribly, he did put *some* measures in place to curb these risky gambles, but they were quickly wiped away by the Trump administration.

The problem with your comment is that it transcends placing blame on any one administration.

I agree with at least one of your root causes, despite there being much more root causes than just that. The issue is that you pretty much told us there’s no solution.

You admitted Obama tried to put measures, yet that got quickly wiped out. Sounds to me there’s no permanent solution, when every administration that follows can just undo whatever the previous one did.

It still amazes me that we only jailed one banker over the GFC. The Obama administration was too quick to let bygones be bygones for the 1% while the rest suffered in castatrophic losses in home value and job loss.

Claiming the Obama administration mishandled the GFC isn't saying no one is responsible, far from it. We all know the players responsible. It's just when it came time to pay up, the Obama administration was more than willing to turn the other cheek.

I agree with that.

The problem is unfortunately in politics, there’s either a bad decision or a worse decision.

The administration focusing on slamming Wall Street would’ve been great for a feel good moment, but there’s no telling if we would’ve recovered economically, and the recovering was already slow to begin with.

We were at the point where corporations are too big to fail way before Obama even became a senator.

And then on top of that, you guys keep failing to explain to me what permanent measures the could’ve taken since he had no support from congress since 2010.

I hear a lot of vague criticisms, but no actual explanations.

"To big to fail" is one thing, holding none of the CEOs and other "powers that be" accountable is quite another. Like you said though - that doesn't all fall at Obama's feet - that's the corrupt system we live in.

The ultimate middle fingers in our faces were the ungodly bonuses paid (in essence, with TARP money none-the-less)... because they knew nothing would be done about it.

How, when CEOs were essentially blending being an invidivual and a corporation when it suits their needs?

I mean just think about the crap Wells Fargo has done the last 2 years. But all they get is fines, and nobody goes to jail.

I’m sick of the system too, but once again, nobody has told me any permanent measure someone can take to stop it. Cause it’s clear no matter what any administration does, all you need is a pro business administration to undo whatever progress we thought was made.

And on, and on, and on.

Obama had a Democrat Congress for 2 years. We were already in the GFC when he got elected. I can buy GOP Congress obstruction on many things, but not here. The timeline doesn't add up.

We did everything we should have done, spending out of a recession makes sense , and it's why our dot com bust was light compared to the GFC. I do not fault the admin for the economic actions taken post GFC. So on that basis , we don't need to argue whether anything would be better or worse. We agree with the moves.

Where I shake my head is that we did not adequately investigate those responsible for the corruption. We levied fines , sure. But those were paid by shareholders and in some cases were even tax deductible. We did not charge the individuals running these companies to find who was fudging numbers. Only one banker went to jail in the US as a relationship to the GFC. one. That's an absurd number. Justice was not served. We just let them get away with it.

Over 1000 bankers were jailed for the S&L scandal in the 1980s. The fact that we only found 1 person to convict is a travesty. I've heard various reasons for this but they mostly just go "not enough evidence." Which why was there enough evidence to fine (a paltry 190 bill I might add) and not enough to find individuals ?

Hopefully that outlines my rage in a more direct fashion, and if you want more let me know! I also blame Holder for this more than Obama, as Holder has a long standing record on this issue going way back.

We need to treat systemic misconduct by corporations like a RICO case. That's my take on how you'd start holding people accountable. Hold up the foot soldiers doing the work , have them flip on their bosses , etc until you find the ringleader.

Was it a scandal?

That’s the problem. I readily admit I’m not well versed in financial crimes as most people are, but with the knowledge I have, a lot of the crap that led to the GFC was more issues related to ethics over actual crimes.

Also, while I don’t know much about the S&L scandal, from what I know, a lot of that came from government deregulation’s, allowing them operate like banks without being regulated like one.

Which kind of goes to what Carly Fiorina said on the debate stage: government creates a problem, then completely screws up tying to fix the problem.

Last month Obama did a fundraiser for James Baker's think tank. James Baker is Reagan's former Secretary of Treasury. Anyway, Obama spent most of his time joking about how much money he made bankers and how the bankers thought they were going to hate him.

The government issued billions of dollars in fines not because of ethics issues. They were issued because Banks were found to have misconduct involved in things like evaluating the prices of assets, exaggerating profit-and-loss statements, and misleading investors in the quality of assets and equity being purchased and sold. There were whistleblowers from JP Morgan and Wells Fargo and probably others, who spoke to officials about misconduct and bad banking practices. Nothing came of these whistleblowers claims, and for their trouble they were blackballed and essentially forced to call it a career. In the case of Wells Fargo in particular, whistleblowers would be essentially sued by the bank for back pay. They had a whistle lower line and if you called it they marginalized you then fired you.

and yet, I’m still not hearing solutions that won’t get wiped out by the following administration, which was the entire argument to begin with.

I see a lot of legitimate issues being raised, but not enough solutions.

My issue with the particular point you’re making is that you seem to conveniently not mention what he was dealing with early in the administration. He still had to sign the bills he backed from bush to bail out the auto industry, still had to sign the stimulus bill that created jobs and boosted money in the economy, STILL had to deal with two different war campaigns, and STILL was focusing on the healthcare bill.

basically the disconnect i have with you and PDR is that you two think he should've prioritized jailing bankers over everything else.

i do not. with all those issues he had to deal with in his first 2 years, im surprised he got the majority of his agenda started. with all those issues, SOMETHING wasn't gonna be heavily prioritized over the others. so thats the disconnect we have right now.

also.....even when the republicans won the midterms, dont they have the power to help obama do exactly that? do they not have the power to investigate?

oh, thats right. they were too busy being protest politicians from the people who believe he was a foreign born muslim.

like i said, i agree he didn't do enough to drop hammers on the banking industry. but unfortunately, 40 is right: poor people don't create jobs.

with everything going on, it sounds really dumb to start jailing the people who are gonna create the jobs, especially during the peak of the recession. good lord, gage. if obama prioritized that over everything else like you wanted him, we would've never recovered.

the worse crisis since the great depression? it could've been WORSE going that route. but we got the CFPB that was doing pretty good work in 2011.

but look where's that at now under a new administration. which goes back to the original point: what can be done that some administration can't quickly undo?

There are many avenues available to the justice department , I posted one in RICO. You can investigate and bust wrongdoing in a company at the individual level if unlawful behavior occurred.

I can only imagine everything a president deals with. This is why it's important they pick the right people under them . Eric Holders background as a business friendly attorney go back to at least the Clinton admin, maybe earlier. He opted not to prosecute US Banks for fear of what you feared: tanking the economy. He had no problem going after two foreign Banks. Yet those banks didn't tank their economy nor did the companies themselves collapse. Hmm.

I have not said at any point that Obama should have stopped everything and prioritized jailing bankers. You're misrepresenting my statements. What I'm trying to answer is a simple question: did the Obama administration, primarily the Eric Holder justice department , enact justice for the unlawful behaviour conducted that led to the GFC?

The evidence shows that there was massive criminal wrongdoing at our largest banks, and we opted to just fine them instead of pursue criminal litigation. By doing so we may have e hastened the recovery by a few months. In exchange we damaged greatly our expectations of equal justice under the law. If you con some people out of money you go to jail. If you con an entire country , you get a pay raise.

I believe if the market closes down 500 today, yesterday loses its meaning.
If it closes down 300, the jury is still out.

If it closes up, it is on!

The thing that concerns me now is the volume. It is not yet there. Volume rising will add validity to yesterday's rise.

Dow Down 390 right now.