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Thread: Markets in meltdown

  1. #1

    Markets in meltdown

    Today I was on messenger with "the guys" and the topic was mostly the market meltdown. It looks like a couple of guys did cash out last summer but a few are still in it. The term Christmas Massacre was being used to describe what they think is going to happen by Monday. The trend is down for all indexes and the pattern looks global. With this in mind, it wouldn't hurt to get ready for some possible bargains next week.

  2. #2
    The market closes early on Christmas Eve day at 1pm est instead of 4pm est.

  3. #3
    Goomba & Super Moderator tonyg's Avatar
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    Thanks, I'll do my grocery shopping early.

  4. #4
    I stopped looking,I do not think markets will be going up until we have a new President
    Timeshareforums Shirts and Mugs on sale now! http://www.cafepress.com/ts4ms

  5. #5
    I watch because the easy money intrigues me. If there is a decent drop it could make my 2019 nut off the get go.

  6. #6
    Market Watch article comparing the 87 crash to what is happening.

    https://www.marketwatch.com/story/th...way-2018-12-21

  7. #7
    The SEC , for the most part, is off work because of the gov shut down. I could be that the plunge protection team will be sitting on the side lines Monday.

  8. #8
    Yikes! I don't have much risk tolerance. When the new president came in, I moved all my 403B accounts to a fixed 4% account. I was second guessing myself when everything was booming, but now I am glad because the peace of mind I have had through this crazy time is well worth it.

    - - - Updated - - -

    Yikes! I don't have much risk tolerance. When the new president came in, I moved all my 403B accounts to a fixed 4% account. I was second guessing myself when everything was booming, but now I am glad because the peace of mind I have had through this crazy time is well worth it.
    Jacki

  9. #9
    The Fed made an incredible dumb move to raise interest rates in this world economic climate, and we are seeing the result. The dogfight between EU hardliners and the UK over Brexit can inflict lots of economic damage both ways and it looks like they are in a game of chicken.

    I have been out of the market for a while, and keep my cash in a credit union, which is a lot safer than a bank. What is scary is the credit default swap market, which some have called a "weapon of mass financial destruction". If that markets freezes up, so will lots of economic activity as banks will no long know who is solvent and who isn't. Even worse, the bank that is far and away the biggest player in credit default swaps is Deutsche Bank, whose own solvency is questionable. Merkel said publicly that Germany would not bail Deutsche Bank out if they went under, and in reality they could not. Deutsche Bank's credit default swap book is larger than the GDP of the entire EU. That is a ticking time bomb over the world economy, and many major US banks are tied in way too heavily in credit default swaps. The Great Depression was triggered by the collapse of a much less economically significant Austrian bank. The stock value of Deutsche Bank tanked months ago, but if they go down the rest of the way, they will take a lot of the world economy with them.

    I have also been increasing my holding of precious metals.

    If your assets are in cash, you might want to check out the degree that your financial institution is tied up in the credit default swap market.

    - - - Updated - - -

    The Fed made an incredible dumb move to raise interest rates in this world economic climate, and we are seeing the result. The dogfight between EU hardliners and the UK over Brexit can inflict lots of economic damage both ways and it looks like they are in a game of chicken.

    I have been out of the market for a while, and keep my cash in a credit union, which is a lot safer than a bank. What is scary is the credit default swap market, which some have called a "weapon of mass financial destruction". If that markets freezes up, so will lots of economic activity as banks will no long know who is solvent and who isn't. Even worse, the bank that is far and away the biggest player in credit default swaps is Deutsche Bank, whose own solvency is questionable. Merkel said publicly that Germany would not bail Deutsche Bank out if they went under, and in reality they could not. Deutsche Bank's credit default swap book is larger than the GDP of the entire EU. That is a ticking time bomb over the world economy, and many major US banks are tied in way too heavily in credit default swaps. The Great Depression was triggered by the collapse of a much less economically significant Austrian bank. The stock value of Deutsche Bank tanked months ago, but if they go down the rest of the way, they will take a lot of the world economy with them.

    I have also been increasing my holding of precious metals.

    If your assets are in cash, you might want to check out the degree that your financial institution is tied up in the credit default swap market.

  10. #10
    Market up a lot today

    - - - Updated - - -

    Market up a lot today

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