Economy Thread

[Koko]

On 2/4/2023 at 11:59 AM, Foxx said:

All-time high.

 

 

I'd be curious to know if it would still be the record after adjusting for inflation.

[Nouseforaname]

On 2/7/2023 at 4:28 PM, IDBillzFan said:

On the upside of Bidenflation, my bank is offering 5% on a 12-month CD. Can't remember the last time I saw a CD offer that much.

My mom is now outperforming Wall Street.

[Foxx]

Canuckistan

 

[Nouseforaname]

10 minutes ago, Foxx said:

Canuckistan

 

If you live in a big city, most of that will be on real estate.

[Koko]

25 minutes ago, Foxx said:

Canuckistan

 

 

So... about $2.41 American?

[Nouseforaname]

25 minutes ago, Koko said:

 

So... about $2.41 American?

Correction it’s not $2.25 American.

 

#justinflation

Edited February 14, 2023 by Nouseforaname

[Ann]

Starve, peasants:

[Koko]

51 minutes ago, Ann said:

Starve, peasants:

 

Next they'll start telling people to breathe less to control CO2 emissions.

[Nouseforaname]

[Nouseforaname]

https://www.wealthprofessional.ca/investments/fixed-income/bank-of-canada-rate-cut-now-a-near-certainty/374349
 

Looks like the jokes about 1 CAD  = .01 USD are about to come true.

Edited March 16, 2023 by Nouseforaname

[Foxx]

57 minutes ago, Nouseforaname said:

https://www.wealthprofessional.ca/investments/fixed-income/bank-of-canada-rate-cut-now-a-near-certainty/374349
 

Looks like the jokes about 1 CAD  = .01 USD are about to come true.

Hopefully you don't have an ARM.

[Nouseforaname]

7 minutes ago, Foxx said:

Hopefully you don't have an ARM.

Fixed until 2026.

[Nouseforaname]

https://www.wsj.com/livecoverage/stock-market-news-today-03-16-2023
 

I’ll say it once and I’ll say it again, Wall Street traders have no emotional stability.

[Ann]

52 minutes ago, Nouseforaname said:

I’ll say it once and I’ll say it again, Wall Street traders have no emotional stability.

I've been saying it for 15+ years.  They be nuts. 

[Nouseforaname]

53 minutes ago, Ann said:

I've been saying it for 15+ years.  They be nuts. 

 

Today the market is up because Credit Suisse got some emergency capital and the job market is strong.

Tomorrow it will be down because Credit Suisse got some emergency capital so it might mean that other banks are also in a bad situation and rates will have to rise to offset the strong labor market.

[Crap Throwing Clavin]

1 hour ago, Nouseforaname said:

https://www.wsj.com/livecoverage/stock-market-news-today-03-16-2023
 

I’ll say it once and I’ll say it again, Wall Street traders have no emotional stability.

 

Program trading and Jim Cramer.

[Ann]

Just gonna get worse...

Saudi Arabia’s Oil Production Cuts Reflect Cost of Reshaping Economy
 

An oil production cut by Saudi Arabia and its allies demonstrated how Crown Prince Mohammed bin Salman is willing to set aside U.S. concerns to pursue a nationalist energy policy aimed at funding an expensive makeover of his kingdom.

 

This weekend’s move came as a surprise after Saudi Energy Minister Prince Abdulaziz bin Salman told industry analysts privately in February that the kingdom would tolerate oil prices slipping to around $65 or $70 a barrel, according to analysts and Saudi officials familiar with the matter. Brent crude, the international benchmark, was trending downward since late last year on global recession fears, nearing $70 a barrel last month. On Monday, oil prices were on track for their biggest jump in nearly a year, up 5.9% at $84.59 a barrel. 

 

</snip>

 

Prince Mohammed told associates late last year that he was no longer interested in pleasing the U.S., saying he wants something in return for anything he gives Washington, according to people familiar with the conversation.

 

</snip>

[Koko]

2 hours ago, Ann said:

Prince Mohammed told associates late last year that he was no longer interested in pleasing the U.S., saying he wants something in return for anything he gives Washington, according to people familiar with the conversation.

 

What a shock, especially after so many years of US politicians publicly and personally trashing him over the Kashoggi murder. It's almost like people hold grudges or something...

[Foxx]

Jobless claims due out later today and it is not expected to be a rosy picture.

[Nouseforaname]

23 minutes ago, Foxx said:

Jobless claims due out later today and it is not expected to be a rosy picture.

Which would be good news if you want the fed to stop raising or even cutting rates.