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Thread: Recession?

  1. #2721
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    Quote Originally Posted by Limy Sami View Post
    I thought I'd lighten the thread up.

    Witnessed in a small pub on the North Norfolk Coast eons ago

    3 RAF Pilots were soon joined by 3 USAF pilots from one of the many US bases in East Anglia, think they were A10 pilots, the air was thick with Warthogs at the time.

    One Yank obviously didn't know the RAF guys, and asked (loud enough for the whole pub to hear) '' y'all, what's it like flying for the 2nd best air force in the world'' to which one of our boys replied quietly and matter of factly ''you should know old chap''
    I used to work underneath the flight path of the Marine base at El Toro in the 80's, they probably flew more training missions out of El Toro in a single day, then the whole UK Air force or Fleet Air Arm did in a month, no comparison

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    Quote Originally Posted by Limy Sami View Post
    Only if I get hug from Mickey Mouse.
    Lol I am sure you will be a gentleman.

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    Quote Originally Posted by triumph406 View Post
    I used to work underneath the flight path of the Marine base at El Toro in the 80's, they probably flew more training missions out of El Toro in a single day, then the whole UK Air force or Fleet Air Arm did in a month
    did you waive at what might have been your health insurance?

    (hey, someone had to get it back to political muckraking )

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    My people have spoken.

    Bitcoin (BTCN):

    cfd07275-2cd8-45dd-b4f5-7492d134387b.jpg

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    Quote Originally Posted by Trboatworks View Post

    Bitcoin (BTCN):
    Bitcoin, now there's a folly. The chart and fundamentals for tulip bulbs looks far better....at least you could still plant a flower after the house of cards fluttered to the ground

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    Quote Originally Posted by Mcgyver View Post
    Bitcoin, now there's a folly. The chart and fundamentals for tulip bulbs looks far better....at least you could still plant a flower after the house of cards fluttered to the ground
    The stories are scary- easy to get in and no buyers anywhere to get out- it’s an asset cult...

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    "asset-cult"...i like that

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    Quote Originally Posted by triumph406 View Post
    I used to work underneath the flight path of the Marine base at El Toro in the 80's, they probably flew more training missions out of El Toro in a single day, then the whole UK Air force or Fleet Air Arm did in a month, no comparison
    No doubt they were in greater need of the practice.

    PDW

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    US Manufacturing is coming out of it's rut sooner than expected... no recession in sight, full steam ahead.

    4th quarter GDP will set all time record.

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    We are now in a "state or should I say Fed controlled economy" and all the World Banks are on board. Wall St. is now "too big to fail". Corporate earnings, well run companies, pfft...it doesn't matter. I don't know about manufacturing, but Dominos Pizza looks really good.

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    It will be very interesting to see how the next year plays out.

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    This week's market events are a clear example of why so many wealthy, highly educated and influential people get crushed in the market. This weeks gains were painfully taken at Warren Buffet's firm, since he sold his entire stake in US airlines weeks ago (at the bottom).

    As I have said before; "The market will do what it must to prove the majority wrong".

    How can this bullishness continue? I described weeks ago, about a train that left the station, it's happening, and there's still very few on board.

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    Quote Originally Posted by SND View Post
    It will be very interesting to see how the next year plays out.
    indeed given that the restaurant sector is taking a serious hit
    and many of those jobs are gone for the foreseeable future.
    much like all those jobs in coal that are gone for good,
    or until natural gas prices rise dramatically.
    at what point do the prop up the market measures stop working?

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    Quote Originally Posted by otrlt View Post
    This week's market events are a clear example of why so many wealthy, highly educated and influential people get crushed in the market. This weeks gains were painfully taken at Warren Buffet's firm, since he sold his entire stake in US airlines weeks ago (at the bottom).

    As I have said before; "The market will do what it must to prove the majority wrong".

    How can this bullishness continue? I described weeks ago, about a train that left the station, it's happening, and there's still very few on board.
    we will see in a few months who was right after the stimulus money runs out

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    Quote Originally Posted by 72bwhite View Post
    we will see in a few months who was right after the stimulus money runs out
    The stimulus money is only going to help (temporarily) the mass amount of people in the service sector. The truth of the matter is; many of these people will be permanently unemployed.

    The market and/or business could care less, prosperity is only for those that do skilled work.

    I'm not a politician, I say it as I see it.

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    Quote Originally Posted by 72bwhite View Post
    indeed given that the restaurant sector is taking a serious hit
    and many of those jobs are gone for the foreseeable future.
    much like all those jobs in coal that are gone for good,
    or until natural gas prices rise dramatically.
    at what point do the prop up the market measures stop working?
    There's not many sectors that won't take a serious hit, many just don't seem to realize it yet.
    There's a few interesting scenarios that should play out on the macro economics of all this.
    The inflation will need to be dumped somewhere, and USDs need to be exported somehow(trade deficits eh?). Maybe negative interest swap lines for everyone...
    The US and a few other countries are also preparing to go cashless. In March the US stopped requiring its banks to have any cash reserves to back any of the currency they loan into existence, and nobody seems to care about what that means.

    It'll take time to play out, 2020 is only setting the stage for what comes next and the virus lock down sure sped the timeline.
    Many still think they're just on a paid vacation, but I expect Canada to take a serious hit and many other non-reserve currency countries, we're printing just as much $ to GDP if not more, without much left to back it. Prior to this hit, 50% of Canada's GDP growth was/is housing price increases and the other 40% is mass immigration, doesn't leave much for anything else worth anything eh?

    I took the opportunity of the market yesterday to dump a few riskier positions and things that were up 30-40%, if next week rises again I'll do more of that. There's clearly a lot of currency looking for a place to die and lots of new gamblers not doing their research. Not many seem concerned that most of the "companies" gaining the most in this market, are companies that create nothing anybody needs to survive.
    Meanwhile a couple things I ordered on Amazon back in March still haven't showed up... should have just gone to the local store...

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    4:30 - 25:30
    YouTube

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    Quote Originally Posted by otrlt View Post
    The stimulus money is only going to help (temporarily) the mass amount of people in the service sector. The truth of the matter is; many of these people will be permanently unemployed.

    The market and/or business could care less, prosperity is only for those that do skilled work.

    I'm not a politician, I say it as I see it.
    “The market and/or business could care less, prosperity is only for those that do skilled work.”

    Really? I think instead the market likes non skilled persons because they are employed for cheap which brings better profits. Look at our trade and CNC machines it is possible to hire less skilled persons to do the bulk of the work and most often for most shops they like the arrangement. Sure skill is important, indispensable actually for other shops yet the trend is to not encourage training or even acknowledging value so that pay is kept low .

    No problem if a employer wants to do that to put more money in their pocket fine. It is interesting that many then make a big show about how valuable the employee is to keep them hanging. Usually on average most machinists will work several jobs in just one deckade.

    After things get back working again it will be the case that several employers will not reopen. This will be ok in the long run for everyone.

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