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You forgot something, Michael.  You didn’t blame Trump.  Here, let me select a random quote from one of your many such posts.  But pull up your socks, I can’t always be around to cover for you…

…”Usually around deficits - but @eyeball this is key: you MUST IGNORE Trump's boom time deficits and the subsequent shoe-licking by the Tea Party losers who wouldn't shut up when Obama implemented QE in 2008.“

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15 minutes ago, sharkman said:

You forgot something, Michael.  You didn’t blame Trump.  Here, let me select a random quote from one of your many such posts.  But pull up your socks, I can’t always be around to cover for you…

…”Usually around deficits - but @eyeball this is key: you MUST IGNORE Trump's boom time deficits and the subsequent shoe-licking by the Tea Party losers who wouldn't shut up when Obama implemented QE in 2008.“

Well, it looks like my previous criticism stuck so no need...

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This has been an awful week for the DOW.  An awful month, really.  Ditto for the TSE.   From a high of 33301 about a month ago, the DOW dropped below 30,000 today and settled at 29,590.

And this disaster can realistically be laid at the feet of Biden.  His handling of COVID, Ukraine, the economy and several other items show a complete disconnect from economic reality.

Last January the DOW peaked at about 36,400, so it’s down almost 7,000 for the year.  To the Trump haters I wonder when you’ll realize that Trump actually ran the economy quite well.

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15 hours ago, sharkman said:

  To the Trump haters I wonder when you’ll realize that Trump actually ran the economy quite well.

Trump shovelled money to the corporations by increasing the debt.  Not really a conservative tactic but definitely a Trumpian one.  If "the economy" means "the DOW" then I have zero disagreement with you here.

You have been on the record in the past as being against corporate handouts and Trump definitely did THAT - in good times to boot.  But yeah Biden wrecked the world economy ok.

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As of this post, the DOW is at 28,725, which has it well under 29,000.  After just crossing the 30,000 wall a couple of days ago.  
 

And the US has yet to suffer a move away from the petro dollar.  When that happens, look out below.  My sources said China is going to sign a huge oil deal with the Mideast, which will have drastic consequences.  

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  • 4 weeks later...
On 9/19/2022 at 11:41 PM, sharkman said:

Here’s another one, apparently Walmart, Target and others are cancelling billions of dollars worth of orders.

http://theeconomiccollapseblog.com/why-are-walmart-and-other-major-u-s-retailers-canceling-billions-of-dollars-in-orders-as-summer-comes-to-an-end/

And more bad news for today.  In after hours trading, Amazon stock dropped 14%.  This is after it dropped something like 3% during the day.

https://www.ft.com/content/21549840-3641-4a36-95c0-efb79b7f0391
 

“Shares of Amazon, already down 35 per cent this year, fell as much as 20 per cent in after-hours trading on Thursday before recovering to trade 13 per cent lower. It was the latest Big Tech group to disappoint investors this week, after Google owner Alphabet, Facebook parent Meta, and Microsoft spooked Wall Street by warning of slower growth and higher costs.“

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More bad news, this time in the US food industry.

https://www.iowapublicradio.org/agriculture/2022-10-31/1-1-million-hens-being-culled-bird-flu-wright-county?_amp=true
 

“The Iowa Department of Agriculture and Land Stewardship said Monday that a case of highly pathogenic avian influenza was found in a commercial layer flock in Wright County.

A spokesman said the flock has approximately 1.1 million birds. As of Monday afternoon, depopulation, which means all birds in the flock are being destroyed to prevent the virus from spreading, is ongoing, the spokesman said.”

And:

“As of Oct. 31, more than 14.4 million commercial and backyard birds in Iowa this year have died from the virus or been killed to contain it. 47.86 million backyard and commercial birds have been impacted nationwide.”

That means that 47.86 million birds have been destroyed, not including the 1.1 million on the latest cull.  Those would be meat and egg producing birds, and means that prices are going up for these staple products.

They have no idea how it’s spreading despite their bio-security efforts.
 

 

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On 9/20/2022 at 5:12 AM, Michael Hardner said:

A recession already happened according to some but a MAJOR recession and depression would be catastrophic given the precarious income situation for a significant majority of the population.  IT's hard to foresee what could happen but a hard left turn is the first thing that comes to mind.... Nationalization, bread lines... the 1930s all over again :( 

Look on the bright side, this time we're going to execute all the right-wingers.

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8 hours ago, eyeball said:

I really don't know what to think either, I'm simply going by what right-wingers say.

You two chuckleheads obviously need some entertainment.  I’ll give you a topic:  Bitcoin has dropped 20% percent this week alone.  It peaked at 68,000 a year ago.  What do think is going on with Bitcoin?  Will it hurt any pension plan you are/have contributed to?  Discuss.

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12 minutes ago, sharkman said:

You two chuckleheads obviously need some entertainment.  I’ll give you a topic:  Bitcoin has dropped 20% percent this week alone.  It peaked at 68,000 a yearme  ago.  What do think is going on with Bitcoin?  Will it hurt any pension plan you are/have contributed to?  Discuss.

No it won't affect me a bit. My pension plan is my property and it's paying me enough I'll have money left over to invest. The future, at the moment, is bright enough to warrant a pair of shades thanks.

I also have a little dinghy, a bunch of jigs and a couple of crab pots - we're stylin'.

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37 minutes ago, eyeball said:

No it won't affect me a bit. My pension plan is my property and it's paying me enough I'll have money left over to invest. The future, at the moment, is bright enough to warrant a pair of shades thanks.

I also have a little dinghy, a bunch of jigs and a couple of crab pots - we're stylin'.

You don’t have any idea what’s going on with Bitcoin?  I’m not sure on that either, but if it’s anything like the stock markets, the words greed and Ponzi scheme probably have something to do with it.

My brother-in-law is in real estate.  Property values are going to lose value, but if it’s paid off or one doesn’t have to renew the mortgage for a couple of years, then life should be good.

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On 11/9/2022 at 6:32 PM, sharkman said:

You don’t have any idea what’s going on with Bitcoin?

I could care less about Bitcoin. The thing I like most about real estate is that it's real.

BTW if anyone want's a pile of used block-chain hard-drives my dumb-ass son-in-law has a room full for sale.  I guess he has a nice AC unit for his troubles. He needed to install that before my daughter would come home from summer holidays. 

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On 11/9/2022 at 6:32 PM, sharkman said:

You don’t have any idea what’s going on with Bitcoin?  I’m not sure on that either, but if it’s anything like the stock markets, the words greed and Ponzi scheme probably have something to do with it.

My brother-in-law is in real estate.  Property values are going to lose value, but if it’s paid off or one doesn’t have to renew the mortgage for a couple of years, then life should be good.

Nothing to see here, eyeball.  Less freighter ships coming from China, and Amazon is laying off thousands in the run up to Christmas shopping season.   FTX just went bankrupt.  Just keep jigging and crab potting, brother...

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15 hours ago, sharkman said:

Nothing to see here, eyeball.  Less freighter ships coming from China, and Amazon is laying off thousands in the run up to Christmas shopping season.   FTX just went bankrupt.  Just keep jigging and crab potting, brother...

The water was so calm it was like glass today, warm and sunny...in the middle of November...its been like this for days, it's phenomenal.  You'd never guess it was the end of the world.

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6 hours ago, eyeball said:

The water was so calm it was like glass today, warm and sunny...in the middle of November...its been like this for days, it's phenomenal.  You'd never guess it was the end of the world.

Not the end of the world, the beginning of a brave new era.  Just like the run up to the crash of 2008, the powers that be keep applying band aid solutions that won’t last.  They are trying to stave off the inevitable.  

2008 came whether they wanted it to or not.  To anybody reading this, watch the movie, The Big Short.  Christian Bale, Steve Carell and Brad Pitt tell a fascinating tale.

And what you are experiencing is the intake of breath before the plunge.  We live in exciting times.

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