US Stock Market Officially Crashes

JLM

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Nov 27, 2008
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Vernon, B.C.
Welfare pays 15 bucks an hour?


Even that is NOT a lot in this day and age. That's $2640 a month gross. Rent will easily eat up a 1/3 of that and groceries five - six hundred which adds up to over half. Even riding the city bus 5 days a week comes to another $100 a month, hydro and heating another two or three hundred, so there's very little left over for all the other things like clothing, laundry, personal hygiene and recreational activities where something as simple as bowling can run you $70 a month. With kids there are all kinds of school and activity fees.
 

Danbones

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Sep 23, 2015
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https://www.usatoday.com/story/mone...terly-earnings-electric-car-maker/4078595002/
Tesla's stock soars after company posts surprising $143 million third quarter profit
They are buying their own stocks back with the repo money and the cheap almost free credit...DUH!

Tesla plans to raise $2 billion in capital through new equity and convertible notes.
CEO Elon Musk signals his intent to buy about $10 million of the company’s stock in the new offering.
https://www.cnbc.com/2019/05/02/elon-musk-may-buy-10-million-of-tesla-stock-in-new-offering.html

The Fed is sharply increasing the amount of help it is providing to the financial system
PUBLISHED WED, OCT 23 20193:43 PM EDT
The New York Fed announced it is increasing its temporary overnight repo operations to $120 billion a day from the current $75 billion.
In addition to the repo increase, term repo operations are rising to $45 billion, from $35 billion
https://www.cnbc.com/2019/10/23/fed-repo-overnight-operations-level-to-increase-to-120-billion.html

Stock buybacks are set to hit a record $1 trillion this year, even as presidential candidates try to restrict them
Rebecca Ungarino
Jul. 2, 2019, 01:09 PM
https://markets.businessinsider.com...sanders-political-criticism-2019-7-1028325693

Repo-calypse and the End of Financial Markets As We Know It! Stock Buybacks and QE Surge
Sep 24, 2019
The Money GPS

For those who don't know the "repo market" is, it is the overnight lending done by the central banks to banks that have NO CAPITOL to do business and it is supposed to be paid back every day. The fact that it is happening and that it is increasing is just another function of the market crash that really started back in April.

IT'S ALL TOTALLY RIGGED!!!
 
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Danbones

Hall of Fame Member
Sep 23, 2015
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Even that is NOT a lot in this day and age. That's $2640 a month gross. Rent will easily eat up a 1/3 of that and groceries five - six hundred which adds up to over half. Even riding the city bus 5 days a week comes to another $100 a month, hydro and heating another two or three hundred, so there's very little left over for all the other things like clothing, laundry, personal hygiene and recreational activities where something as simple as bowling can run you $70 a month. With kids there are all kinds of school and activity fees.

I was being sarcastic there JLM. I volunteer with the homeless - It's is very bad now and getting worse by the month. The money laundering real estate thing just doubled the local rents over the last three years around here. The Sallyanne hands out tents now.

Here in "Playland" ( a local radio station calls it that) welfare pays about 650 a month for a single male. A disabled person gets about 1200 a month. The average rent for a one bedroom, if you can find one, is from 950 ( A motel room) to 1200 a month PLUS heat and hydro usually. 2600 plus is about right for a three bedroom duplex.
Worse, if a person doesn't have a place, the street allowance is all a person gets, and that is welfare without the rent part, so about 300 of that 650 is all they receive.
 

Danbones

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Sep 23, 2015
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It was a response to the previous post
That doesn't change the fact you are talking el crappo doood!

from YOUR LINK

The positive results announced Wednesday came after Tesla lost $1.1 billion during the first half of the year..."

The "profit" came from the repo money FFS!!! Whassa matta? You don't know about "finance"?
 

Cliffy

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Nov 19, 2008
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Nakusp, BC
 

Danbones

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Sep 23, 2015
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Ray Dalio says the economy looks like 1937 and a downturn is coming in about two years

Sep 18, 2018, 11:21 AM
https://www.businessinsider.com/ray...crisis-downturn-coming-about-two-years-2018-9

Ray Dalio's hedge fund bets $1 billion that stocks will fall: WSJ

Nov 22, 2019


The Big Short's Steve Eisman doubles down on Canadian bank short call


BNN Bloomberg

Steve Eisman, portfolio manager at Neuberger Berman. joins BNN Bloomberg to weigh in on the performance of Canada's banks in the second quarter. Eisman says that he's been adding to his Canadian bank short positions.

Mortgage stress test working for Canada's housing market, says ...

8 Feb 2019 ...
Mortgage stress test working for Canada's housing market, says Royal ....
Ray Dalio: Central banks will get so desperate they will give money away ... The Big Short's Steve Eisman doubles down on Canadian bank short call ...
 
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Walter

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Jan 28, 2007
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Stoopid markets are at record highs today. Don't they know a recession is here.