Is everybody going cash or what?

[apenland01]

Do realize our economy was chugging along just fine, before the tax cuts and rate reductions.
By lowering taxes, we lost an opportunity to reduce, and eventually eliminate, the US debt.
End result, we ALL would have seen a permanent tax cut ... since we'd no longer pay interest.
And reducing the rates to near zero, in a strong economy, left us without tools, if needed later.
As luck would have it, we did need them later, or actually sooner, to cool our current situation.

As for people sitting at home and making more ... it's not the case now, and it's still FUBAR.
Which makes it a bit moot. Plus much more was wasted thru PPP and other insanity of the day.

I do greatly agree, we can't spend our way out of debt. Cutting costs is key, but it's not alone.
Unfortunately, our accumulated debt requires taxation at rates higher than otherwise necessary.

Dumbest thing I've ever heard. Who pays taxes???

[boneil]

https://twitter.com/i/status/1526275617934790658

Dan Niles talking about a near term pop, but overall another 20-50% drop in the S&P

[NitroZ7]

https://twitter.com/i/status/1526275617934790658

Dan Niles talking about a near term pop, but overall another 20-50% drop in the S&P

He is a short seller but I don't think another 20-30% drop is out of the question. I'm hearing the 3400 level in the S&P seems to be where people are projecting we go. Of course anything can happen to send it well below that.

[boneil]

He is a short seller but I don't think another 20-30% drop is out of the question. I'm hearing the 3400 level in the S&P seems to be where people are projecting we go. Of course anything can happen to send it well below that.

I didn't realize he was primarily a short seller. I thought he was a tech investor. Well I guess that makes sense he's calling for another 20-50% drop

Speaking of Short seller, Michael Burry is short AAPL

[boneil]

When there is a noticeable trend by WMT that customers are buying 1/2 gallons of milk instead of 1 gallon of milk, that's saying something. I feel like thats a huge red flashing light.

I'm not an economist, but something like that warrants a fast and harsh reaction from the Fed, right? Maybe Walmart isn't on the Feds radar, but as America's number 1 employer they should be.

[NitroZ7]

I didn't realize he was primarily a short seller. I thought he was a tech investor. Well I guess that makes sense he's calling for another 20-50% drop

Speaking of Short seller, Michael Burry is short AAPL

He normally talks about being short when I see him on CNBC. I don't think I have heard him say he has liked anything in the past year or so. I think he is also short APPL.

[idbefishing]

When there is a noticeable trend by WMT that customers are buying 1/2 gallons of milk instead of 1 gallon of milk, that's saying something. I feel like thats a huge red flashing light.

I'm not an economist, but something like that warrants a fast and harsh reaction from the Fed, right? Maybe Walmart isn't on the Feds radar, but as America's number 1 employer they should be.

Poor WMT, did they have bad projection also? Funny I thought inflation would hurt HD more than WMT but obviously it's the opposite.

[TampaJim]

The smack index is getting higher and higher by the day.
Keeping seeing women smack kids and husbands hands.
At that point, they immediately put it back on the shelf.
As noted, tough times are here, for many, more coming.

[NitroZ7]

It will be interesting to see where debt goes. If inflation is prolonged and we see credit card debt rising and people tapping equity lines then this could morph into a credit crisis. People have been so use to borrowing cheap they forget that tapping an equity line at 5% is going to be much harder to repay or carry than when it was 2-3%.

[boneil]

I expect some flash crashes this year. I daytrade futures and there is very little liquidity and it's been like this for a few days. I think it might get worst.

[Bassin08]

I have XLK and XLY in our ROTH IRA’s. Needless to say they have really gotten beat up this year. I am still ahead in the XLK, but the XLY is getting close to the original investment principal. Would you change it over to the energy sector, or the durable sector? I’m concerned as this inflation gets worse the XLY will wind up at a level that will take years to recover from.

[boneil]

you're either a trader or an investor.

Higher inflation + lower stock prices = more buying power.

I think it will take a year or more for some stocks to recover, it all depends on what the Fed does.

[boneil]

I wonder how much of this is monkey pox?

[NitroZ7]

you're either a trader or an investor.

Higher inflation + lower stock prices = more buying power.

I think it will take a year or more for some stocks to recover, it all depends on what the Fed does.

Yeah this is not going to be like after Covid. The Fed is gone so the market will have to gradually grind its way back over a few years.

[NitroZ7]

Not sure what year it is on the Chinese Calendar but between Putin and the Market I think we should call this the Year of the Bear.

[boneil]

Yeah this is not going to be like after Covid. The Fed is gone so the market will have to gradually grind its way back over a few years.

I hated the covid recovery. Was always chasing it. I'm liking the idea of having time to build a position. This is gonna be my bear market that my future is built on.

[NumberOne]

I hated the covid recovery. Was always chasing it. I'm liking the idea of having time to build a position. This is gonna be my bear market that my future is built on.

Me and you both. I absolutely hated how we handled Covid. Should have had one relief package at the beginning when we were really unsure about the virus but the subsequent relief packages were all bullshit imo.

[boneil]

If you went to lunch you missed the bear market

[NitroZ7]

I actually bought a little JEPI, TROW, PRU, and SCHD today. PRU and TROW have dividends over 4% now so they were too tempting for me not to add a little more.

[boneil]

The trader side of me bought TSLA and QQQ. But I will be looking to buy GOOGL, AAPL and a few others sometime this year.