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  #121  
Old 03-08-2020, 12:57 PM
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Originally Posted by DAVES View Post
Realize, we are being had. Say something often enough and people think it is true and it makes sense. We are being told the deficit is. truth I am loosing count, 26 Trillion dollars? Stop, think realize do we understand what one Trillion dollars is let alone 26 Trillion? Who do we owe that money to? Most of us would say China. I looked it up a while ago, actually we owe slightly more to Japan but more important, together Japan and China together hold roughly 20% of our National Debt. More shocking is that Social Security holds 40% of the national debt. All of this is simply insane accounting. If a company, a corporation was doing this we would expect, we would demand that our government close them down. The same government that is feeding us this same
information.
How to pay this debt? The answer is simple. You cannot pay this with a few $10,000 toilet seats. You have to cut the big stuff and that is Education, Military, and Welfare (Social Security) of course the people will scream. What they will say, what we will say is cut him not me. Increase his taxes not mine.
So far we've paid the deficit with slight of hand. Interest on a 10 year treasury is below 1%-the lowest in American history. Our Fed is telling us they want a 2% rate of inflation.
Oh and you, if you buy a Treasury pay whatever your highest Federal tax rate in that below 1% that they will pay you.
You are, we are being had.
Why not cut same percentage of EVERYTHING, deficit problem solved????
  #122  
Old 03-08-2020, 02:15 PM
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Originally Posted by jebartle View Post
Why not cut same percentage of EVERYTHING, deficit problem solved????
You know they tried that don't you? The Budget Control Act of 2011 was to equally cut defense and non-defense spending. It was based in part on the mandated expiration of the Bush tax-cuts due to end in 2012 which had increased the deficit. Of course those tax cuts were not allowed to expire [and more were enacted] . And of course, the bipartisan agreement to equally share the spending cuts between the military and non-military costs was thrown into the garbage by one side once they took control of the budget for later years.

Look it up for yourself. Don't trust my telling of history. Sequestration is a good search word.
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  #123  
Old 03-08-2020, 02:23 PM
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Originally Posted by jebartle View Post
Why not cut same percentage of EVERYTHING, deficit problem solved????
Then what do you do with the debt problem ?
  #124  
Old 03-08-2020, 03:04 PM
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Then what do you do with the debt problem ?
Same, same!
  #125  
Old 03-08-2020, 03:06 PM
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Originally Posted by blueash View Post
You know they tried that don't you? The Budget Control Act of 2011 was to equally cut defense and non-defense spending. It was based in part on the mandated expiration of the Bush tax-cuts due to end in 2012 which had increased the deficit. Of course those tax cuts were not allowed to expire [and more were enacted] . And of course, the bipartisan agreement to equally share the spending cuts between the military and non-military costs was thrown into the garbage by one side once they took control of the budget for later years.

Look it up for yourself. Don't trust my telling of history. Sequestration is a good search word.
Vaguely remember. Cut congress benefits accordingly, hmmmm, pretty sure they won't go for that cut.
  #126  
Old 03-08-2020, 08:07 PM
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Looks like another bad day coming up tomorrow. The 5% down limit has already been triggered on futures.
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  #127  
Old 03-08-2020, 08:41 PM
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Oil crashing...being one reason.


Stock market news live: Oil crashes, stock futures crater on coronavirus, crude war fears
  #128  
Old 03-09-2020, 12:00 AM
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Whoa! The markets just got BitchSlapped by Russia...Oil at $28.

Buckle Up!

Fed a-gonna-be bailing.
  #129  
Old 03-09-2020, 06:43 AM
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This is one I don't remember. Indeed this morning the futures are frozen at a projected 5% loss. Has this actually happened to FUTURES before since the stop mechanism has been instituted ? When the market opens and the futures indicate a loss of more than 5% do they let the market trade and then immediately shut it off as soon as the 5% is triggered ?

Europe markets are down 7%. Do they stop trading those markets like the US markets ?

Last edited by rustyp; 03-09-2020 at 06:54 AM.
  #130  
Old 03-09-2020, 07:19 AM
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I did just learn on a financial network the markets do open even if the Futures are frozen at minus 5% and will close at the following trigger points if tripped:

- Minus 7% Close for 15 minutes
- Minus 13% Close an additional 15 minutes
- Minus 20% - Close for remainder of the day

Still haven't found what foreign market rules are.
  #131  
Old 03-09-2020, 07:20 AM
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The topic is the state of the stock market.

A number of partisan political posts had to be removed.

Please stay on topic or the thread will be closed.

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  #132  
Old 03-09-2020, 09:41 AM
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US Stock Markets trading halted!


U.S. stocks halted as markets plummet on coronavirus fears [Video]
  #133  
Old 03-09-2020, 11:27 AM
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Quote:
Originally Posted by MorTech View Post
Whoa! The markets just got BitchSlapped by Russia...Oil at $28.

Buckle Up!

Fed a-gonna-be bailing.
More like the Saudis called Russia's bluff then went all in.. lol
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  #134  
Old 03-09-2020, 03:08 PM
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Originally Posted by vinricci View Post
I’m buying Royal Caribbean and American Airlines on Monday.
Did you buy today ? I'm a chicken - I'm holding out for two consecutive significant up days. How do feel about big oil ? Will some of the giants continue to pay a dividend ?
  #135  
Old 03-09-2020, 03:27 PM
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Tell me how much Warren Buffet lost so far and I won't feel as bad. Even so, those free dinner come-ons are having more appeal.
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