# Is anyone watching the Dow today?



## BennyMG1 (Jun 7, 2021)

Last I looked, the Dow had dropped 867 points.
Biden came on news and said everything is fine.

I don’t know enough about the stock market to draw any conclusions. Can anyone enlighten me about the implications of this?


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## Maine-Marine (Mar 7, 2014)

last year it dropped to 18,xxx... I said months ago it would be 25,000 in August

Market has been going up for little to no news....boosted by free government money

I was chatting with a co-worker today who was happy is 401K was up 37% for the year...until i explain that most if not all of it was from the recovery after the loss!!!! I told him to look at the 2 and or 3 year return - he was then far less happy

As mentioned I am taking a loan from my investment in order to buy stuff...that i feel will go up in price


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## 7515 (Aug 31, 2014)

BennyMG1 said:


> I don’t know enough about the stock market to draw any conclusions. Can anyone enlighten me about the implications of this?


Most of it is fear. 
Too much Covid news and investors are panic selling shares to take profit. 
Jerome Powell can’t keep his big yap shut either. Every time that man speaks it costs me money.

BoF


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## Robie (Jun 2, 2016)

BennyMG1 said:


> Last I looked, the Dow had dropped 867 points.
> Biden came on news and said everything is fine.
> 
> I don’t know enough about the stock market to draw any conclusions. Can anyone enlighten me about the implications of this?


The only thing I'm hearing is....the scare of scamdemic part deux is influencing the market.


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## Jem (Mar 7, 2019)

Indeed - We need to prepare for "transitory hyper-inflation". Own things that have intrinsic value. Ammo, liquor, pharmaceuticals, tabacco. Get new rubber on your vehicles, keep gas tanks topped off. All that sort of stuff. As the government continues to print money to give away, the dollar WILL decline. 

In pre-war Germany, a wheelborrow of cash wouldn't buy a loaf of bread. This is what German children did with 1930s german notes:


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## BennyMG1 (Jun 7, 2021)

Had to call someone I know who makes their living (and a very good one) in the stock market. He thinks it’s only due to fears of another Covid lockdown. He said he doesn’t feel there’s any danger of a crash at all right now and that, overall, we are headed in the right direction. He is more concerned with the rabid government spending right now.


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## Maine-Marine (Mar 7, 2014)

BennyMG1 said:


> Had to call someone I know who makes their living (and a very good one) in the stock market. He thinks it’s only due to fears of another Covid lockdown. He said he doesn’t feel there’s any danger of a crash at all right now and that, overall, we are headed in the right direction. He is more concerned with the rabid government spending right now.


ya thats who you want to trust ----the guy that makes his living getting people to buy and sell stocks

stock value for any company should be base don value of company assets and a consideration for future sales potential

ie all assets are worth 1 million and it makes 5 million a year in profit... value would be about 1M + yearly sales x 3 or 5... or all stock should be worth 4 to 6 million 

now tell me what was driving the markets up

what is going to happen when government closes of money faucet


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## Jem (Mar 7, 2019)

Examine the scriptures... err... _financials _daily to see what things are so.


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## BennyMG1 (Jun 7, 2021)

Maine-Marine said:


> ya thats who you want to trust ----the guy that makes his living getting people to buy and sell stocks
> 
> stock value for any company should be base don value of company assets and a consideration for future sales potential


I understand your skepticism. The person I am referring to is a day trader and doesn’t make his money investing other people’s money. Every dime he invests is his own. I trust this man IMPLICITLY. He is the most honest and down to earth man I know. I trust him to give me his honest analysis as he see’s it.
He had absolutely nothing to lose or gain by being forthright with me.

That being said, he is very concerned about inflation getting out of hand.


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## rice paddy daddy (Jul 17, 2012)

Fox Business reported the drop was due to new covid infections driving fears that the economy would collapse again.
They also reported oil is taking a beating from the announcement by OPEC that they rare going to increase production.


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## Maine-Marine (Mar 7, 2014)

when inflation is going at 5% a month, the market is at 18,000, milk is $8 a gallon, gas is over$10, and bread is $12 a loaf... it will be very important and comforting to know WHY it is happening


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## Robie (Jun 2, 2016)

Turnip just addressed this today.

We all can relax. he and his experts have assured us the inflation was expected but won't last.

Man, do I feel better now.


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## rice paddy daddy (Jul 17, 2012)

Robie said:


> Turnip just addressed this today.
> 
> We all can relax. he and his experts have assured us the inflation was expected but won't last.
> 
> Man, do I feel better now.


We need a big, laughing, emoji.
This one earned it.


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## Robie (Jun 2, 2016)




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## CapitalKane49p (Apr 7, 2020)

This is the dot.com mania on steroids. It's another great transfer of wealth from the have-somes to the have-it-alls. People blew their stimulus checks on doggie doo doo meme stocks and crypto and Wall Street was waiting for them. Wall Street feasted and is still feasting. They will gorge until there is nothing left and the markets tank. Then they will scream for bailouts and more stimulus and the cycle shall repeat itself. The pace of money coming into the market is starting to slow and like any Ponzi scheme you need new money to keep it going. This may be the start of the big shake out because unlike what the media are telling you things cannot go up forever.

More interesting to watch is where the "Smart Money" goes. It's leaving the stock market and going into buying land, farms, timber...... hard assets. The commodities that everybody needs. Notice how there is very limited opportunities to buy land at a reasonable price opposed to say 5 -10 years ago in your area. That's because the hedge funds are buying all up with water and mineral rights. You think you water bill is high now just wait.

Godspeed


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## stowlin (Apr 25, 2016)

It’s not a shock. Can’t go up for ever. If it truly is a Covid response it will bounce back quickly unless you think the US Govt wants to pay everyone to take another year off in which case it’s going to go dowe more.


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## Robie (Jun 2, 2016)

stowlin said:


> It’s not a shock. Can’t go up for ever. If it truly is a Covid response it will bounce back quickly unless you think the US Govt wants to pay everyone to take another year off in which case it’s going to go dowe more.



Read an article today that said they are thinking of extending the enhanced unemployment.


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## BennyMG1 (Jun 7, 2021)

Maine-Marine said:


> when inflation is going at 5% a month, the market is at 18,000, milk is $8 a gallon, gas is over$10, and bread is $12 a loaf... it will be very important and comforting to know WHY it is happening


Very good point. The “why” will be the least of our worries.


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## Robie (Jun 2, 2016)

Not to split hairs but...the "why" is very important I think.

It opens eyes as to who not to support.


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## BennyMG1 (Jun 7, 2021)

Robie said:


> Not to split hairs but...the "why" is very important I think.
> 
> It opens eyes as to who not to support.


Oh I’m not disagreeing with that at all. Just agreeing that once we sink into chaos and super high inflation, people will be more concerned with eating than the politics of why they are hungry.


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## Any Beastie (Mar 19, 2021)

BennyMG1 said:


> Biden came on news and said everything is fine.


Is that the only words this infant revert knows? The border: everything is fine. Etc. Etc. 

The more debased all currencies become the more need there is for new global currencies.


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## 7515 (Aug 31, 2014)

What comes down must go up. 

Looks like investors are setting down and focus has shifted to earnings reports and away from Dr Faucci’s doom prediction.

BoF


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## greatlab (Jul 18, 2021)

Years ago when they announced Trump won the elections, I transferred all my 401K into two stocks. By the time he was sworn in, my money had made more than all of the last eight years combined. By April 15th it added again what I had started with so that now I had close to two and a half time what I had started with. By the time the first year was complete, what I had on the day Trump was sworn in had doubled. Over the next two years that amount had almost doubled again, which meant I now had close to six times what I had started with the day after election was held that year. October 2019 I needed to remove most of what I had to pay off a few thing, complete a few others and care for my wife during her final months of life (my early retirement). I pulled all but my beginning investment out and after Uncle Sam dug his greedy hands into my pocket, the amount I had left, I invested half in the hold in your hands type gold, silver and platinum. The rest did what I needed to do and all was well with me.

During the final year Trump was in office I made another jump in earnings and had added another 50% growth of what I had left in my account. When Lost Boy was announced as the winner, my earnings almost stopped growing, like dead grass in a dry field stopped growing. I am now seeing growth like the eight "It'll never happen again!" years of Obama. If everything last another 20 or 25 years at this rate, I may get my account back to the way it was just before I pulled everything out. Of course in 25 years, I may only have enough to buy a dozen eggs with what I have earned in that account.

When I turn 67 YO, I plan to pull the rest out and spend it on something useful. Maybe I'll be able to afford a box of matches and some bubble gum with the way inflation and the stock market are going these days.


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