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More on the Carry-Trade unwind that seems to have exacerbated the sell-off: https://www.wsj.com/finance/currencies/what-is-the-yen-carry-trade-e5ab9670?mod=livecoverage_web
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A “little too early”?
The market rebounded today. I give full credit to Tim Walz being selected as Kamala's VP.Markets up around 1% so far today.
Anyway, a gift link: https://www.wsj.com/finance/this-do...n109u2xsbc1f&reflink=mobilewebshare_permalink
“… a closer look suggests that while recession risk has risen, the U.S. isn’t in one now. The distinction is crucial because it means it isn’t too late to head off a downturn. It all depends on the Fed, and on the unpredictable moods of investors, consumers and employers.
Two events are driving the recession talk. The first is the stock-market selloff, which wasn’t triggered by news of the U.S. economy, but by the Bank of Japan’s decision Wednesday to tighten monetary policy.
The second event came days later when it was reported that the U.S. unemployment rate had jumped to 4.3% in July from 4.1% in June and 3.4% last year, triggering one popular rule of thumb that says the U.S. is in recession.
A recession isn’t a switch that is arbitrarily thrown on or off; it’s a process: a self-reinforcing cycle of weakening spending, employment and income, usually triggered by tight financial conditions such as high interest rates or a credit crunch, or a shock such as higher oil prices or, in 2020, a pandemic. …”
That KamalaCrash was intense. Thankfully she already pulled us thru the recession in 24 hours.The market rebounded today. I give full credit to Tim Walz being selected as Kamala's VP.
Thank you, Kamala !
Don’t be such an out of touch liberal elite! A six-pack of Diet Dew costs $.79 more than it did under Trump. The economy is in shambles.We may have some volatility for a while. But the Pubs who were touting yesterday as the start of the “Kamala Recession” are f’ing stupid. This has been a GREAT four years for people with assets in the market. That’s not the end all be all, but the investment class should be extremely excited about another 4-8 years of Bidenomics.
This is genuinely funny.They’ll always have the Great Depression of Monday, August 5, 2024 to remember fondly!
Markets realized the ZZLP is closedI fell asleep at 3 or so and when I woke up half the gains were gone. WTF happened in the last hour?
Fake news! And if it’s not fake news, then it’s because Trump is surging in the polls! And Trump is not surging in the polls, then you are lying, lib!This morning...
Dow +318
NASDAQ +293
S&P + 80
Good grief. I can't imagine going through life that way.I have some die-hard republicans in my life (family members).
I spoke to two in the last couple of days and literally the first thing they mentioned was the markets, and both in extremely hyperbolic ways.
Both conversations started with me asking how they were doing ?standard greeting).
First: Well, I’m poor again.
Second: good, I’m just worried that there’s going to be nothing left for your inheritance…