Financial Markets Meltdown - Page 93

slough shark · #**2761** 10-16-2022, 11:43 AM

Quote:

Originally Posted by EagleEyes

I think were about at the denial stage rolling right into panic. I know am getting tried of seeing red but thinking am in mostly blue chip companies so hopefully ill be okay. Haha would like a couple weeks of greener pastures.

I’m not even sure we are at the anxiety stage yet, I think we have a ways to go before getting into the denial phase. This isn’t something that will happen that quickly, rates have a ways to go up yet, prices of things need to come down a fair bit still and I’m not even sure we’ve seen the worst of the inflation yet. I don’t foresee a bottom until I can go to the store and predict how much food will cost or fill up the truck without cringing.

KGB · #**2762** 10-16-2022, 12:37 PM

Quote:

Originally Posted by Buckhead

IMO we are not yet close to panic/capitulation.
True panic/capitulation is when people start selling stuff that they like and own outright to pay their bills and/or fund their retirement. I’m not really seeing that yet.

That’s a fire sale, not a panic sale. That’s when you barricade yourself doors and protect your food supplies, lol!

fishtank · #**2763** 10-16-2022, 11:01 PM

Quote:

Originally Posted by KGB

That’s a fire sale, not a panic sale. That’s when you barricade yourself doors and protect your food supplies, lol!

Give it a few months on the market and for the Canada fire sale will be late 2023 when people have to make mortgage payments .

bdub · #**2764** 10-17-2022, 06:54 AM

Quote:

Originally Posted by fishtank

Give it a few months on the market and for the Canada fire sale will be late 2023 when people have to make mortgage payments .

Higher rates are already starting to affect home prices. Onterrible and Southern Bring Cash are taking a big hit already. Alberta is looking pretty good so far.

https://housepriceindex.ca/2022/09/august2022/

"Before seasonal adjustment, the Teranet–National Bank National Composite House Price IndexTM fell 2.4% from July to August, the largest monthly decline on record since the index began in 1999.

After seasonal adjustment, the Teranet–National Bank National Composite House Price IndexTM fell 2.1% from July to August, a record monthly drop and the fourth consecutive decline. In August, nine of the 11 CMAs included in the index experienced contractions, while prices were up in Calgary (+1.3%) and Edmonton (+2.8%). The largest price declines were recorded in Hamilton (-5.4%), Ottawa-Gatineau (-3.8%), Halifax (-3.6%) and Toronto (-3.5%). For the remaining CMAs not included in the composite index, a decrease was observed in 19 of the 20 CMAs. The largest monthly declines were in Saint John (-7.8%), Brantford (-7.7%), Barrie (-6.7%) and Kitchener (-6.2%). Conversely, only Lethbridge was up (+2.6%)."

fishtank · #**2765** 10-18-2022, 01:45 PM

Another emergency release of 14 million barrel oil by Biden just before the midterm, can’t tame the free market forever.

Map Maker · #**2766** 10-18-2022, 04:04 PM

Interest rates are expected to peak at 4.5%

lmtada · #**2767** 10-18-2022, 04:06 PM

Quote:

Originally Posted by Map Maker

Interest rates are expected to peak at 4.5%

Are you working for BOC?

Map Maker · #**2768** 10-18-2022, 04:35 PM

Nope. That’s what all the analyst are saying.
Arent we all dieing to know?
I’m hoping GIC go up another % or two.

roper1 · #**2769** 10-18-2022, 08:52 PM

BNN analysts saying another Canuck bump then maybe a pause until new year. We need to tame inflation.

nelsonob1 · #**2770** 10-18-2022, 09:45 PM

Like doing open heart surgery with a sledgehammer.

Better to just get on with, tame inflation and deal with the blood bath afterwards.

eric2381 · #**2771** 10-19-2022, 09:51 AM

https://www.cnn.com/markets/fear-and-greed

https://youtu.be/8OcegOGAGIs

Drewski Canuck · #**2772** 10-19-2022, 11:12 AM

Quote:

Originally Posted by fishtank

Another emergency release of 14 million barrel oil by Biden just before the midterm, can’t tame the free market forever.

Funny thing about tanks and planes and war, and attacks on pipelines.

It sure uses up alot of fuel.

Drewski

bdub · #**2773** 10-19-2022, 12:23 PM

Quote:

Originally Posted by fishtank

Another emergency release of 14 million barrel oil by Biden just before the midterm, can’t tame the free market forever.

In case you missed it, the demented leader of the free world just announced on TV their plans to keep the energy crisis going indefinitely.

https://www.whitehouse.gov/briefing-...ng-down-costs/

Penner · #**2774** 10-19-2022, 12:37 PM

Quote:

Originally Posted by roper1

BNN analysts saying another Canuck bump then maybe a pause until new year. We need to tame inflation.

Inflation ain't going to slow until interest rates reach the inflationary value at a minimum which is around 7%-9% over the past 9 months. Unfortunately a strong USD is countering any anti-inflationary measures we are implementing in Canada so we got that working against us also.

If the BOC does what they should do, we should see another 0.75% by months end and expect another at year end and more in early part of 2023.

DiabeticKripple · #**2775** 10-19-2022, 01:26 PM

Quote:

Originally Posted by bdub

In case you missed it, the demented leader of the free world just announced on TV their plans to keep the energy crisis going indefinitely.

https://www.whitehouse.gov/briefing-...ng-down-costs/

Didn’t Democrats block Trump from buying a crap ton of oil at mid twenties / barrel? Now they want to buy a bunch at $67-$72/barrel? Makes sense.

Buckhead · #**2776** 10-19-2022, 02:40 PM

I am not seeing as much inflationary pressure as I did previously. The CRB index appears to be stabilizing. Lumber and may minerals and metals are now drifting lower. Hopefully, this works it’s way into the general economy. Still a shortage of things on the supply side tho, so that might take a while.

fishtank · #**2777** 10-19-2022, 05:12 PM

Quote:

Originally Posted by Drewski Canuck

Funny thing about tanks and planes and war, and attacks on pipelines.

It sure uses up alot of fuel.

Drewski

On that note the Chinese communist party 5 year plan meeting this week , one of the item on the agenda is to expand the army and up defence spending

Overall trend looks like the market is going south and the strong usd is going to effect company earning in the next couple of quarters. many countries are scrambling to protect their currency could see some fall out after , as Canada import produces from the us that going to show in the groceries bill . Canada is a well stocked in natural resource , it just that we have a idiot up top , that don’t know how to properly make use of it .

bdub · #**2778** 10-20-2022, 05:20 AM

Quote:

Originally Posted by DiabeticKripple

Didn’t Democrats block Trump from buying a crap ton of oil at mid twenties / barrel? Now they want to buy a bunch at $67-$72/barrel? Makes sense.

Good memory. Yes they did, it was blocked. The Dems didn't want to do anything to support the oil industry when they were suffering huge losses at the beginning of the covid crisis.

The latest 15-million-barrel dump is the last tranche of the planned 180-million-barrel dump that has been going on since spring. Biden has already stated that they are ready to dump further barrels onto the market, but I think his hands are going to be largely tied to do much more to in that regard after midterms. And it really doesn't matter much now. They stated they are buyers to refill at $70 and a disciplined OPEC is ready and willing to maintain prices near 90$. Any price between those two levels is hugely profitable for oilco's.

What guarantees this energy crisis to continue indefinitely is the lack of investment over many years and the lack of incentive provided by any western government to invest. Leftist governments are still drunk on the kool-aid of the climate cult. Until that changes and we get rid of these lunatics it's going to be a long ugly road ahead imo.

fishnguy · #**2779** 10-20-2022, 09:50 AM

Quote:

Originally Posted by fishnguy

Quote:

Originally Posted by fishnguy

I knew Truss was incompetent and she has proven to be so. Britain went full retard and it is going to end badly, very, imo. Again from Reuters: Britain sends investors fleeing with historic tax cuts and borrowing

They are completely nuts and have no clue about basic economics, or so it appears. Which seems to be the trend among many governments currently.

https://www.reuters.com/world/uk/uk-...er-2022-10-14/

Truss, in power for only 37 days, then told a news conference she would now allow a key business levy to rise from next year, raising 18 billion pounds, as she accepted she had gone "further and faster" than markets had been expecting.

"We need to act now to reassure the markets of our fiscal discipline," she said.

The pound slid against the dollar after she spoke, trading 1.2% lower on the day at $1.1198 and two-year British government bonds, or gilts turned negative.
…
The plan for unfunded tax cuts crushed UK assets and drew international censure, but the pound and gilts have started to recover since the government started looking for ways to balance the books.

Kwarteng is the country's shortest serving chancellor since 1970, and his successor will be the fourth finance minister in as many months in Britain, where millions are facing a cost of living crisis. The finance minister with the shortest tenure died.

Lol. She was in over her head. But hey, at least she said she would use the nukes if the opportunity arose. Lol.

Quote:

Originally Posted by fishnguy

Ok, last bump to this story, lol… I think. Wouldn’t it be swell if gross incompetence always resolved itself in this manner (aside from turmoils and billions lost, etc)?

At least she made history as the shortest served PM in Britain.

fishnguy · #**2780** 10-20-2022, 10:13 AM

Quote:

Originally Posted by bdub

In case you missed it, the demented leader of the free world just announced on TV their plans to keep the energy crisis going indefinitely.

https://www.whitehouse.gov/briefing-...ng-down-costs/

Crazy that something like this is actually on the White House website.

President Biden is committed to doing everything in his power to respond to Putin’s Price Hike at the pump, and he is delivering.

Funny how they capitalize “Price Hike”.

Then,

Third, the President is calling on companies to pass through lower energy costs to consumers right away. The profit that energy refining companies are now capturing on every gallon of gasoline is about double what it typically is at this time of year, and the retailer margin over the refinery price is more than 40 percent above the typical level.

So is it Putin or the “energy refining companies”? Or maybe the companies are on it together with Putin?

Also,

In March, following Putin’s further invasion of Ukraine, the President authorized the largest-ever release from the SPR and secured historic coordination with allies and partners to release crude oil from their reserves as well.

They forgot to mention their “historic coordination” with the Saudi allies.

Elections aside, I wonder if they are hoping for a price drop when their genius “price cap” on Russian oil comes into effect in December and at the same time hedging against a rise in prices with this latest announcement.

fishnguy · #**2781** 10-20-2022, 10:53 AM

One more post, to add to bdub’s last post above and previous discussion of energy crisis (in Europe in particular). The following is from a bloomberg article titled UK Inflation May Hit 15% Without Further Energy Support. Take a good look at those numbers, “raw” and as a percent of the GDP’s:

lmtada · #**2782** 10-20-2022, 12:24 PM

Quote:

Originally Posted by fishnguy

Ok, last bump to this story, lol… I think. Wouldn’t it be swell if gross incompetence always resolved itself in this manner (aside from turmoils and billions lost, etc)?

At least she made history as the shortest served PM in Britain.

https://www.armstrongeconomics.com/u...ced-to-resign/

fishnguy · #**2783** 10-20-2022, 03:17 PM

^ Haha. Nah, just almost extreme case of incompetence. It was obvious when she was Foreign Secretary (probably prior too) and really obvious when she was running for the PM. When she took the office, chips simply fell into place and everyone realized that it wasn’t just talking points. We have something similar going currently.

P. S. They are saying in the second sentence of the second paragraph they are trying to sell you a “report” and the whole article is only 3 very short paragraphs with no substance?

lmtada · #**2784** 10-20-2022, 03:25 PM

Quote:

Originally Posted by fishnguy

^ Haha. Nah, just almost extreme case of incompetence. It was obvious when she was Foreign Secretary (probably prior too) and really obvious when she was running for the PM. When she took the office, chips simply fell into place and everyone realized that it wasn’t just talking points. We have something similar going currently.

P. S. They are saying in the second sentence of the second paragraph they are trying to sell you a “report” and the whole article is only 3 very short paragraphs with no substance?

You, Buy us the report, so we can read it…….

fishnguy · #**2785** 10-20-2022, 03:53 PM

Isn’t it supposed to be that the interested people buy and offer to those not interested? I would be on the not interested side

DiabeticKripple · #**2786** 10-21-2022, 02:38 PM

Decent day today.

SLB up 10%. I set a stop limit if they go below $50 again to sell so I can throw some cash on my mortgage come renewal time.

gulo · #**2787** 10-22-2022, 10:31 AM

Quote:

Originally Posted by Twisted Canuck

Well, it was bound to happen, the coronavirus is just a convenient trigger....looks like the Dow Jones has shed roughly 1700-1800 points since opening bell yesterday. TSX also down similar. Some folks gonna take a beating. And, as always, some folks are going to get rich. I can't help thinking how make-believe it all seems sometimes, as billions or trillions of dollars 'evaporate'...Will be interesting to see where it lands.

It IS make-believe. And it's not working anymore. It got us 50 years of plateau after a meteoric rise ending around 1970, the make-believe, the easier and easier credit. Now we are in the grinding process of collapse. Every year a little less stable than the one before.