Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious biased sources will be removed at the mods’ discretion. Supporting links can be added in comments or posted separately but not to the post body. Sources may be checked for reliability using Wikipedia, MBFC, AdFontes, GroundNews, etc.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source. Clickbait titles may be removed.
Posts which titles don’t match the source may be removed. If the site changed their headline, we may ask you to update the post title. Clickbait titles use hyperbolic language and do not accurately describe the article content. When necessary, post titles may be edited, clearly marked with [brackets], but may never be used to editorialize or comment on the content.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials, videos, blogs, press releases, or celebrity gossip will be allowed. All posts will be judged on a case-by-case basis. Mods may use discretion to pre-approve videos or press releases from highly credible sources that provide unique, newsworthy content not available or possible in another format.
7. No duplicate posts.
If an article has already been posted, it will be removed. Different articles reporting on the same subject are permitted. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners or news aggregators.
All posts must link to original article sources. You may include archival links in the post description. News aggregators such as Yahoo, Google, Hacker News, etc. should be avoided in favor of the original source link. Newswire services such as AP, Reuters, or AFP, are frequently republished and may be shared from other credible sources.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
Could this whole situation really be as simple as the largest scale "pump-and-dump" ever?
No, because the damage he has done is ongoing and could literally bring the USD down from the preferred security of the world economy.
And if he does that, then all that speculative wealth in our still-inflated stock market is worth tittlywinks.
They're gonna cash it out in RMB, not leave it in US stocks.
I like on CNBC tried to cut him short when he said what he said. Was watching it live since I've been enjoying this whole melt down.
While CNBC has been kind of neutral but trying to justify the means to the end this guy came up and said it like it is. We are close if not already in a recession thanks to these idiots.
This is a question for anyone:
I can’t find a good definition of a fiscal recession. I understand that it involves “multiple months of downward trends” on things like GDP.
Exactly how long does the downturn have to last before they declare that it is officially a period of recession? Is it really just 2 months or more?
It's usually two quarters. By the time we are officially in recession we have been for half a year.
Also, it's not two quarters of the stock market being down, but GDP. What's being talked about in this article is the stock market. I mean, yeah, they're linked, but the stock market is going to be considerably more-volatile and reflects investor beliefs about future economic activity. After some bouncing around, the S&P 500 is down something like 10% as of today since the beginning of the month. US GDP has not dropped 10% in the past week-and-a-half.
EDIT:
https://en.wikipedia.org/wiki/Okun%27s_law
Okun's law states that a one-point increase in the cyclical unemployment rate is associated with two percentage points of negative growth in real GDP.
If we'd had the GDP fall off by 10% in the past week and a half, we'd expect something like one in twenty Americans to have lost their jobs in the past week and a half.
Yeah, I don’t think the GDP is a great defining factor of economic emergency, in that words like “recession” have to be declared before the country treats the problem seriously. Assuming that growth is going to happen forever in a finite world is naive. And there are serious problems in the economy happening despite the GDP, like increasing poverty and lack of education or healthcare.
So like, my frustration is that “recession” has to be said before the government freaks out and attempts to fix things, but things are already really bad in ways that matter far more.
Now that Trump's fucking with rich people it'll be interesting to see if the millionaire class does anything about it. I still doubt they will.
The stink of the Orange Turds policies are still hitting the markets.
Call it ‘strategic leverage’ all you want, but when your move tanks the market and raises insider trading red flags, it starts to look less like policy and more like profiteering in a patriotic hat. 😏