The DOW is down 1,300 points today. And that's the Good News.
Submitted by gjohnsit on Thu, 05/05/2022 - 1:30pm
The DOW is only 30 stocks. NASDAQ is 100 stocks and it's getting twice as bad as the DOW is.
[edit: it kept getting worse]
But the real bad news is in bonds. (reminder yields going up means prices are going down)
And then there are mortgages.
Mortgage rates in the U.S. resumed their upward climb, reaching the highest level since August 2009.
The average for a 30-year loan jumped to 5.27% from 5.10% last week, Freddie Mac said in a statement Thursday.
Bitcoin wasn't going to save you either.
Comments
stocks acting like water
dripping down off the precipice
the wall streeters created to fill
their coffers with dirty money
no more americana dream
Just another WS robbery taking place in broad daylight
First the bailed out the banks, next time they bailed out oligarchs
after that it was Pharma, lastly the MIC,
someonesheeple has to pay for itI never knew that the term "Never Again" only pertained to
those born Jewish
"Antisemite used to be someone who didn't like Jews
now it's someone who Jews don't like"
Heard from Margaret Kimberley
What does any of this MEAN, though?
I'm pretty lay on this; I have an inkling it's (allowed to be) important, but it makes no sense to me and I have no idea what I'm supposed to do with/about this data.
In the Land of the Blind, the One-Eyed Man is declared mentally ill for describing colors.
Yes Virginia, there is a Global Banking Conspiracy!
It means a lot of rich people lost a lot of money
Actually the number I saw was $1.3 Trillion.
However, let's put that into context shall we.
So don't spend too much time worrying about the wealth of rich people.
In that case...
...why did you make it sound so grim? Sounds like cause for cheer (if a minor one).
In the Land of the Blind, the One-Eyed Man is declared mentally ill for describing colors.
Yes Virginia, there is a Global Banking Conspiracy!
Because everything is leveraged to the nth degree
And our economy has been horribly mismanaged by the wealthy elite.
So an extended downturn is going to be felt by everyone.
Some time ago, I asked one of my few real friends...
...what he thought about the solution to plutocracy. His answer was ingeniously simple, and I don't understand why more people aren't pursuing it:
"Make their money worthless".
Surely there must be some way to just cut them and their long-since-etherealized liquid assets out of the economy? Their "power" is as illusory as can possibly be.
In the Land of the Blind, the One-Eyed Man is declared mentally ill for describing colors.
Yes Virginia, there is a Global Banking Conspiracy!