Nailing Malarkey Too

Hey Gouvernail, what were you saying about the markets

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On 2/26/2018 at 3:58 PM, Hillary said:

Remind me...

I wrote about the fact the uncontrolled utterances coming from the White House are likely to cause wild swings in the market. 

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He certainly appears to be a stable economic genius

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3 hours ago, SloopJonB said:

He certainly appears to be a stable economic genius

He needs to be put out to pasture.

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Another of Hillary Jack's (many) "YooHoo" threads.

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1 minute ago, Ishmael said:

He needs to be put out to pasture.

Why annoy the other animals?? 

Min fact, we have animal cruelty laws to prevent people like you from committing such atrocities 

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5 minutes ago, Gouvernail said:

Why annoy the other animals?? 

Min fact, we have animal cruelty laws to prevent people like you from committing such atrocities 

I'm not going to clean the fucker in a store window and dine on his liver, with or without fava beans.

However, solitary with a very high electric fence would keep him away from the sheep.

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3 hours ago, Ishmael said:

I'm not going to clean the fucker in a store window and dine on his liver, with or without fava beans.

However, solitary with a very high electric fence would keep him away from the sheep.

The minute you turned your back, he would dig dig dig with those tiny hands, slither under the fence, and start grabbing some sheep pussy.  

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Dow Jones Futures are down approximately 450 points 45 minutes before the opening bell. Could be a wild ride today.

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7 hours ago, jerseyguy said:

Dow Jones Futures are down approximately 450 points 45 minutes before the opening bell. Could be a wild ride today.

It has been for a couple of weeks.  Yeeeee Haw!  You just need to know how to keep your calm and stop for an ice cream

DSC_5745cicecream.jpg

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3 hours ago, Saorsa said:

It has been for a couple of weeks.  Yeeeee Haw!  You just need to know how to keep your calm and stop for an ice cream

Rocky Road would be my choice.

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5 hours ago, SloopJonB said:

Try showing that graph back to 2008.

Or is that farther back than your mind can grasp?

Here, I'll do it for you;

http://www.macrotrends.net/1358/dow-jones-industrial-average-last-10-years

Yep, those Repugnicans are economic geniuses.

You need more crayon for Jack. Here it is a colourised for him to truly get a grasp of the issue

graph.jpg.a3fe86c3e167ea4b7f518883b63e006d.jpg

If I were a partisan hack like Jack, I'd want to forget about 2008 too.

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Thanks for that - my granddaughter used up all my red crayons.

The next while is going to be interesting - it may well be that Trump merely rode the Obama rise to the top of the arc and we are now starting a Bush type freefall.

Stay tuned.

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41 minutes ago, SloopJonB said:

Thanks for that - my granddaughter used up all my red crayons.

Welcome. We all know that Jack can't grasp it without bringing it down to a kindergarten level presentation ;) 

 

41 minutes ago, SloopJonB said:

The next while is going to be interesting - it may well be that Trump merely rode the Obama rise to the top of the arc and we are now starting a Bush type freefall.

Well, I look at the first year of them both and note that Obama stopped an economic free-fall and turned it around into a positive growth. If I were a party loyalist needing to bolster Trump's image without tarnishing the GOP (Ha!*), that's not something I'd want to compare him to either.

 

 

 

* hahahahaha... Trump not tarnishing the GOP... sometimes I kill myself.

 

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9 hours ago, SloopJonB said:

Try showing that graph back to 2008.

Or is that farther back than your mind can grasp?

Here, I'll do it for you;

http://www.macrotrends.net/1358/dow-jones-industrial-average-last-10-years

Yep, those Repugnicans are economic geniuses.

Why is comparing Obama's second term from election night to election night to Trump's first year and a half a problem for you? 

 

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But since you asked before the election in  2008 it was 8,695 just before the election in 2016 it was 17,888  = 9,193 or 1.06%

Divided by 8 years we get 13.25%/yr

Still like 24% per year better. 

 

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49 minutes ago, Hillary said:

Why is comparing Obama's second term from election night to election night to Trump's first year and a half a problem for you? 

Why is comparing Obama's first term, first year to Trump's only term, first year a problem for you?

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41 minutes ago, Hillary said:

But since you asked before the election in  2008 it was 8,695 just before the election in 2016 it was 17,888  = 9,193 or 1.06%

Divided by 8 years we get 13.25%/yr

Still like 24% per year better. 

Once again proving that you do not understand statistical analysis. The average of eight years of economic activity cannot be compared to a single year's economic activity. Even if there were similar starting conditions for both (which there was not).

 

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55 minutes ago, Hillary said:

Why is comparing Obama's second term from election night to election night to Trump's first year and a half a problem for you?

Back to that economics class Hapless - you didn't quite get it the first time around.

Look at the slopes on that graph - study it real hard and it might just sink in.

Hint - think trends.

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Nice start to the day. Did somebody threaten a trade war???

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Dow is down almost 400 at this moment

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Just now, jerseyguy said:

Dow is down almost 400 at this moment

I'm glad I only own one of those 30 stocks.

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And there we have the old reliable right wingers "Fuck you - I'm all right Jack".

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22 minutes ago, SloopJonB said:

And there we have the old reliable right wingers "Fuck you - I'm all right Jack".

Nope, it's a comment on watching a small number of stocks as a  global indicator.

Never like the idea.  It seem to suit those with limited imagination.

 

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I wouldn't know - I have people to look after that sort of thing. :D

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16 minutes ago, SloopJonB said:

I wouldn't know - I have people to look after that sort of thing. :D

I've never thought you were big on individual thought.  Thanks for the confirmation.

 

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What's wrong with a fiduciary? Unless you love this stuff like my Dad did, it's a time suck. He'd be up before the open and work at it until dinner.

He loved that shit and was quite good at it.

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24 minutes ago, Saorsa said:

I've never thought you were big on individual thought.  Thanks for the confirmation.

 

:lol: I've been asking for something funny from a right winger - thanks for that.

You keep right on thinking for yourself there Soreass.

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19 minutes ago, austin1972 said:

What's wrong with a fiduciary? Unless you love this stuff like my Dad did, it's a time suck. He'd be up before the open and work at it until dinner.

He loved that shit and was quite good at it.

Soreass is too dumb to have even grasped that the old line about people acting as their own lawyers also applies to them acting as their own financial advisors.

Either that or he doesn't have enough money for it to matter.

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22 minutes ago, austin1972 said:

What's wrong with a fiduciary? Unless you love this stuff like my Dad did, it's a time suck. He'd be up before the open and work at it until dinner.

He loved that shit and was quite good at it.

Nothing wrong with it but I don't actually like handing my financial fate over to others. 

I don't day trade but I have a certain percentage of my portfolio that I consider play money.  Mostly it's the part of my IRA contribution that represents the tax I would have paid if it hadn't go into a regular IRA.

It doesn't take a lot of time and you can use targeted ETFs to invest in trends and then keep an eye on the trends instead of ten different stocks.    To that extent I do rely on others judgement but only when it appears to be in line with my own.  For example, blockchain technology is clearly stepping up in logistics and there are some useful stocks to be had through ETFs that spread the risk and include already established companies.  You don't need to be out chasing bitcoins.   I own a few I think are key but find an ETF that doesn't churn a lot and put money some where the industry specialists can deal with it. I still check on their holdings though every now and again. 

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To that extent I do rely on others judgement but only when it appears to be in line with my own.

Colour us surprised.

You really don't see the humour do you?

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10 minutes ago, SloopJonB said:

To that extent I do rely on others judgement but only when it appears to be in line with my own.

Colour us surprised.

You really don't see the humour do you?

Note, I said appears to be in line with my own not exactly like my own.  There is a difference there that binary thinkers don't get.

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I have a triple redundancy setup. I never want to touch my Roth stuff until I'm an old fart. That said, a good fiduciary is nice to have so long as you see eye to eye.

Holy shit, China just bought a shitload of beans from us. 'Unknown source' my ass. 2 huge purchases. It's China. So much for tariffs. A wink, a tickle and a nudge.

Fuckers are smart. They battered the market and then bought through an intermediary.

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7 minutes ago, austin1972 said:

I have a triple redundancy setup. I never want to touch my Roth stuff until I'm an old fart. That said, a good fiduciary is nice to have so long as you see eye to eye.

Holy shit, China just bought a shitload of beans from us. 'Unknown source' my ass. 2 huge purchases. It's China. So much for tariffs. A wink, a tickle and a nudge.

Fuckers are smart. They battered the market and then bought through an intermediary.

Sounds like Russian Oligarchs.  They are making noise about oil too but pretty much have Venezuelas production locked in for the next few years.

All the shit about Russia mans nobody is keeping an eye on China.

If Trump wants to do something about China AND the post office  looking into this would be a worthwhile undertaking.

Quote

ePacket

In 2011, the U.S. Postal Service made special agreements with the national postal carriers of China and Hong Kong (and subsequently South Korea and Singapore) to allow tracking-enabled packages not exceeding 36” or weighing over 4.4 pounds to be sent to the U.S. for extremely low rates. They called this shipping option the ePacket, and the rates are so low that it's cheaper to ship small parcels from China to an American city than it is to send that same parcel domestically. As Amazon’s Vice President of Global Policy Paul Misener pointed out:

“The cost to ship a one-pound package from South Carolina to New York City would run nearly $6; from Beijing to NYC: $3.66.”

While sending that same one-pound package from New York City back to Beijing via USPS International Mail would cost in the ballpark of $50.

No returns

This state of affairs also makes Chinese merchants virtually immune to returns from U.S. customers, turning international e-commerce into a one-way street. As this unfortunate eBay shopper found out the hard way:

I bought an item from a seller in Hong Kong for $6 and $1.50 shipping. The item was broken so the seller told me to return for refund.

The shipping weight is 5 ounces. To ship from the US to Hong Kong with the cheapest USPS service that has delivery confirmation (priority international) it will cost $34.87. To ship 1st class without tracking it will cost $11.48.

How in the world did the China seller pay for the product, pay eBay and Paypal fees, pay for packing material, and ship to me WITH TRACKING for 1/4 of the cost it would cost me just in shipping costs alone to send the item back?

This drastic trade imbalance is severely exacerbated in the melee of global e-commerce, where merchants from around the world are put in direct competition with each other, often selling on the same platforms to the same customers, giving Chinese merchants a huge advantage over their domestic U.S. rivals, who are now being rendered obsolete on their own turf.

 

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59 minutes ago, SloopJonB said:
1 hour ago, austin1972 said:

What's wrong with a fiduciary? Unless you love this stuff like my Dad did, it's a time suck. He'd be up before the open and work at it until dinner.

He loved that shit and was quite good at it.

Soreass is too dumb to have even grasped that the old line about people acting as their own lawyers also applies to them acting as their own financial advisors.

Either that or he doesn't have enough money for it to matter.

Yes and no. A financial advisor is different from an investment advisor and neither are specificaly bound to act as fiduciaries unless they sign a contract with you stating such (at least, here in the USA). OTOH some of them like to imply they are fiduciaries while very definitely are not, and the big-box investment firms fight like hell (thru lobbyists) to keep any fiduciary obligations far far away. Banks are just as bad in this regard but that's a different issue.

Even if you are a real-live sho-nuff lawyer, it's stupid to act as your own lawyer in most cases. I am not so sure about acting as your own financial advisor .... largely because I've been my own investment advisor for 40+ years, and have done well enough that I am now retired fairly comfortably with no pension, no inheritance, etc.... as long as you are willing to 1- invest the time to be well-informed and 2- are not prone to making emotional decisions. In the absence of those two, no.......... one should NOT act as one's own financial or investment advisor.

Most people are prone to panic sales, at least.

-DSK

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I've been waiting for it to happen. Argentina's crop was a complete failure and they're the #3 bean producer.

The 'unknown buyer' also bought corn. A lot of it. Farming could get sporty in 2018. Hog prices have crashed. My cattle are fairly crashed out at $112 live weight for August delivery. So, do I feed out what may be valuable grain or hold it and sell the feeders that I'm mostly upside down on at this point? Hmmm. Everyone else might sell their feeders and cattle prices could spike.

Man, I hate farming.

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15 minutes ago, austin1972 said:

I've been waiting for it to happen. Argentina's crop was a complete failure and they're the #3 bean producer.

The 'unknown buyer' also bought corn. A lot of it. Farming could get sporty in 2018. Hog prices have crashed. My cattle are fairly crashed out at $112 live weight for August delivery. So, do I feed out what may be valuable grain or hold it and sell the feeders that I'm mostly upside down on at this point? Hmmm. Everyone else might sell their feeders and cattle prices could spike.

Man, I hate farming.

Yabbut the rest of us could go hungry, you're safe from that..............

-DSK

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2 hours ago, Mismoyled Jiblet. said:

fight the free market! fight it! make people more for everything you bitter old fool.

You need to read the cite and look at what the post office has done.  China sends small packets by the container load and the US Post Office delivers them for free.  I guess that's one way to consider it a "free" market.  We take care of their delivery for free.

 

 

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Hey Fake Hillary!!! Please tell your boyfriend to quit fucking the market!!

 

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3 hours ago, Steam Flyer said:

Yabbut the rest of us could go hungry, you're safe from that..............

-DSK

The idea is to sell those things. Not eat them. I'm about 80% vegetarian. But yes, I suppose I have plenty of food.

Don't worry. There's lots of food for everyone. The crop schedule is comparatively small this year. I think only ~160 million acres are being planted for corn and beans combined. That's down significantly. We are able to produce so much per acre these days it's stupid. In 1985, the farm broke a record at 144 bushels/acre for corn. I got almost 300 last year and it was a short season because it was wet and I couldn't get in the fields. Crazy.

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49 minutes ago, Saorsa said:

You need to read the cite and look at what the post office has done.  China sends small packets by the container load and the US Post Office delivers them for free.  I guess that's one way to consider it a "free" market.  We take care of their delivery for free.

I've been ordering shit from china for quite a bit, it ain't news to me. Great way to pay very little for small stuff that isn't particularly technical - need SD card plastic cases? Order 10 for $0.50 L-bracket for a cheap camera? $15. As pointed out in said article ending the e-packet program would likely lose the usps more money because it'd revert to the prior lower rates.

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27 minutes ago, Mismoyled Jiblet. said:

I've been ordering shit from china for quite a bit, it ain't news to me. Great way to pay very little for small stuff that isn't particularly technical - need SD card plastic cases? Order 10 for $0.50 L-bracket for a cheap camera? $15. As pointed out in said article ending the e-packet program would likely lose the usps more money because it'd revert to the prior lower rates.

If they are doing it for free they are losing money.  You think they make it up on volume?  A one

How is this a level playing field?

Becca Peter from Lopez Island in Washington state is in a similar situation. She sells something called Washi tape via a website called PrettyPackagesTape.com “at some of the lowest prices of any U.S.-based small business.” But these low prices are nothing compared to what Chinese competitors can sell at. While Peter must charge a flat $3.50 for shipping, Chinese merchants are selling versions of the product with all fees and and shipping charges included for a total price of $2.

The situation for American merchants gets even more dire when they try to compete in the fray of international e-commerce.

“It costs less than $4 to mail a 9-ounce parcel from China to Toronto or London. If I want to mail a 9-ounce parcel to Toronto it would cost me $14.73. If I wanted to send that same package to London it would cost me $21.38,” Snow exclaimed.

 

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5 hours ago, Saorsa said:

Note, I said appears to be in line with my own not exactly like my own.  There is a difference there that binary thinkers don't get.

Well I worked for IBM in the 70's so I think in hexadecimal.

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8 minutes ago, SloopJonB said:

Well I worked for IBM in the 70's so I think in hexadecimal.

Fuck me. I used to get those dumps. Black fingers.

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IBM 650 and Bi-quinary machine code was the first machine I ever programmed.

 

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4 hours ago, austin1972 said:
8 hours ago, Steam Flyer said:

Yabbut the rest of us could go hungry, you're safe from that..............

 

The idea is to sell those things. Not eat them. I'm about 80% vegetarian. But yes, I suppose I have plenty of food.

Don't worry. There's lots of food for everyone. The crop schedule is comparatively small this year. I think only ~160 million acres are being planted for corn and beans combined. That's down significantly. We are able to produce so much per acre these days it's stupid. In 1985, the farm broke a record at 144 bushels/acre for corn. I got almost 300 last year and it was a short season because it was wet and I couldn't get in the fields. Crazy.

There's lots of food as long as smart, capable people are still farming. I think that Malthus was not very good at math. He's probably right in the long run, but as another one of those big-brain types once said "In the long run, we're all dead"

I've never figured out what fraction of my food intake in calories or whatever is from meat, but it's probably about the same. They say beans are good for your heart  B)

-DSK

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8 hours ago, Steam Flyer said:

I've never figured out what fraction of my food intake in calories or whatever is from meat, but it's probably about the same. They say beans are good for your heart  B)

-DSK

Bad for the planet though.  All that anthropogenic CH4.

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On 2/26/2018 at 3:58 PM, Hillary said:

Remind me...

 

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An interesting sideline to all this: the US has a budget deficit heading for 5.3% of GDP. The UK and Aus, not exactly intellectual giants themselves on finance, are running at sub 2%. 

And then Trump dumps a shit ton of tax breaks, increasing debt levels even higher. So what will it be in 12 months, 6% ?

Leveraging is through the roof again, seems we don’t learn much. This all reeks of another 2007 style global recession all kicked off this time by Trump trying for simple idiot guide wins unless the “checks and balances” kick in pretty soon.

And this time, China isn’t in a position to bail out the global economy.

 

 

 

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4 hours ago, shaggybaxter said:

An interesting sideline to all this: the US has a budget deficit heading for 5.3% of GDP. The UK and Aus, not exactly intellectual giants themselves on finance, are running at sub 2%. 

And then Trump dumps a shit ton of tax breaks, increasing debt levels even higher. So what will it be in 12 months, 6% ?

Leveraging is through the roof again, seems we don’t learn much. This all reeks of another 2007 style global recession all kicked off this time by Trump trying for simple idiot guide wins unless the “checks and balances” kick in pretty soon.

And this time, China isn’t in a position to bail out the global economy.

 

I'm starting to see ads for classes on how to make lotsa e-z money flipping houses. And a radio essay on the real estate market in Phoenix AZ (a mugs game, it's a fuckin' desert.... paging Sam Kinnison). And a commentator saying it's all different now because these aren't sub-prime mortgages.

Well, I've been hunkered down for the crash for months now. Missed out on some of that e-z stock market money but I won't have to sell in a panic.

5 hours ago, Dunyazad said:

3 consecutive posts and the Dow is higher in each. Overall up by 500 points in a week. 

You make a solid point. 

A more solid point would be a graph showing closing points from say 2003 thru 2018.

The "checks and balances" will kick in soon, maybe a month, maybe another couple years. Gravity has never been known to fail.

-DSK

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8 hours ago, shaggybaxter said:

An interesting sideline to all this: the US has a budget deficit heading for 5.3% of GDP. The UK and Aus, not exactly intellectual giants themselves on finance, are running at sub 2%. 

And then Trump dumps a shit ton of tax breaks, increasing debt levels even higher. So what will it be in 12 months, 6% ?

Leveraging is through the roof again, seems we don’t learn much. This all reeks of another 2007 style global recession all kicked off this time by Trump trying for simple idiot guide wins unless the “checks and balances” kick in pretty soon.

And this time, China isn’t in a position to bail out the global economy.

It's not the same at all - the problem in '08 wasn't leveraging so much as it was big debt carried by people with little ability to repay who should never have qualified and all the tricky "derivative" and "default swap" shit the financial companies engaged in to protect themselves from their own criminal greed.

There's a big market downturn coming - it's already overdue - but it's a routine one, not a bubble aberration like '08.

I'm a lot more concerned about inflation than a market downturn - that 20+ $Trillion can only be paid down by printing money. Haven't you noticed how prices now compare to 10 years ago? Back then a $20 burger was a news story, now it's routine.

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The point is the volatility has returned. 

And

fake Hillary wants me to keep her posted 

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3 hours ago, Dunyazad said:

Wow. Look at that, the Dow is higher today than what you reported 3 weeks ago. 

And lower today than it was at the beginning of the year. Razr is right - right-wingers don't do well with statistics.

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20 minutes ago, Dunyazad said:

My post is 100% accurate. You’re talking about something I never said or implied. 

My post is 100% accurate. You're complaining about something I never said or implied. 

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1 hour ago, Dunyazad said:

Again you make false statements. I did not complain, I simply pointed out that the point you’re trying to make has no pertinence to my statement made to  Gouvernail. 

When I need your opinion about the pertinence of my posts, I'll be sure to let you know. 

 

Quote

Have you added me to the list of people you come here to stalk? 

I don't come here to stalk anyone. Not everyone enjoys the forums the same way you do. 

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9 hours ago, Bent Sailor said:

And lower today than it was at the beginning of the year. Razr is right - right-wingers don't do well with much of anything.

FIFY

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6 hours ago, Dunyazad said:

Again you make false statements. I did not complain, I simply pointed out that the point you’re trying to make has no pertinence to my statement made to  Gouvernail. 

Have you added me to the list of people you come here to stalk? 

There's a difference between being stalked and being ridiculed.

You can look it up.

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Yo Gouv:

Dow down 375 at this point in the day.  Ouch

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32 minutes ago, jerseyguy said:

Yo Gouv:

Dow down 375 at this point in the day.  Ouch

10 yr T-note cracked 3% for the first time since ‘14. Trillion dollar deficits are going to look pretty ugly if this keeps up. 

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Ahhhhh - that's only 30 $Billion a year.

Trump should be able to pay that himself shouldn't he?

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24 minutes ago, Sean said:

10 yr T-note cracked 3% for the first time since ‘14. Trillion dollar deficits are going to look pretty ugly if this keeps up. 

Dow now just over 500.  All this winning is wearing me out.

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Meanwhile, while you guys are bitching back and forth, the uncertainty of having a reckless narcissist in the  White House takes its toll again 

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Even Gropenfuhrer cant  ruin everything every day 

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On 2/26/2018 at 3:58 PM, Hillary said:

Remind me...

 

FEFDCD70-C599-45AA-804F-878733963E53.jpeg

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In other markets, we have a problem.

China is Not Collecting Tariffs on U.S. Soybeans Because They've Stopped Buying Them.

China is apparently no longer buying U.S. soybeans amid the rise in trade tensions, Bloomberg reported Wednesday. 

"Whatever they're buying is non-U.S.," Soren Schroder, CEO of New York-based Bunge, the world's largest oilseeds processor, told the news outlet in a phone interview. "They're buying beans in Canada, in Brazil, mostly Brazil, but very deliberately not buying anything from the U.S." 

A Bunge representative did not immediately respond to a CNBC request for comment. 

China canceled a net 62,690 metric tons of U.S. soybean purchases in the two weeks ended April 19, the Bloomberg article pointed out, citing USDA data for the current marketing year.”
 

This is potentially devastating to mid-western soy bean farmers and processors, who sold 13.9 billion dollars worth of the product to China in 2017. 

Brazilian soy bean prices have gone up as a result of China buying there, and so the EU has increased their buying in the U.S. but their need for the crop is minuscule compared to China’s. 

https://www.bloomberg.com/news/articles/2018-05-02/china-has-stopped-buying-u-s-soybean-supplies-bunge-ceo-says

 

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MAGA

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7 minutes ago, badlatitude said:

In other markets, we have a problem.

China is Not Collecting Tariffs on U.S. Soybeans Because They've Stopped Buying Them.

China is apparently no longer buying U.S. soybeans amid the rise in trade tensions, Bloomberg reported Wednesday. 

"Whatever they're buying is non-U.S.," Soren Schroder, CEO of New York-based Bunge, the world's largest oilseeds processor, told the news outlet in a phone interview. "They're buying beans in Canada, in Brazil, mostly Brazil, but very deliberately not buying anything from the U.S." 

A Bunge representative did not immediately respond to a CNBC request for comment. 

China canceled a net 62,690 metric tons of U.S. soybean purchases in the two weeks ended April 19, the Bloomberg article pointed out, citing USDA data for the current marketing year.”
 

This is potentially devastating to mid-western soy bean farmers and processors, who sold 13.9 billion dollars worth of the product to China in 2017. 

Brazilian soy bean prices have gone up as a result of China buying there, and so the EU has increased their buying in the U.S. but their need for the crop is minuscule compared to China’s. 

https://www.bloomberg.com/news/articles/2018-05-02/china-has-stopped-buying-u-s-soybean-supplies-bunge-ceo-says

 

Time to find another crop. 

And good riddance! 

Soybean Subsidies in the United States totaled $35.6 billion from 1995-2016.

On top of that, there's the man boobs issue. :rolleyes:

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13 hours ago, badlatitude said:

In other markets, we have a problem.

China is Not Collecting Tariffs on U.S. Soybeans Because They've Stopped Buying Them.

China is apparently no longer buying U.S. soybeans amid the rise in trade tensions, Bloomberg reported Wednesday. 

"Whatever they're buying is non-U.S.," Soren Schroder, CEO of New York-based Bunge, the world's largest oilseeds processor, told the news outlet in a phone interview. "They're buying beans in Canada, in Brazil, mostly Brazil, but very deliberately not buying anything from the U.S." 

A Bunge representative did not immediately respond to a CNBC request for comment. 

China canceled a net 62,690 metric tons of U.S. soybean purchases in the two weeks ended April 19, the Bloomberg article pointed out, citing USDA data for the current marketing year.”
 

This is potentially devastating to mid-western soy bean farmers and processors, who sold 13.9 billion dollars worth of the product to China in 2017. 

Brazilian soy bean prices have gone up as a result of China buying there, and so the EU has increased their buying in the U.S. but their need for the crop is minuscule compared to China’s. 

https://www.bloomberg.com/news/articles/2018-05-02/china-has-stopped-buying-u-s-soybean-supplies-bunge-ceo-says

 

When I originally read the article, I called BS. China regularly buys beans from us and it gets listed as as 'Unknown Destination'. Everyone knows that means China. Then I looked at futures. The market is certainly buying the story. Fuck me. Margins are already ridiculously tight to negative. I saw someone say 'just grow something else'. OK, how do you propose I do that? Let's see...I rely on beans to put nitrogen into the soil so I can rotate corn back into it without having to buy fertilizer. Wheat is out. My soil isn't right for it since wheat likes sandy soil. Same for sorghum but for different reasons - pH.

That leaves truck crops. That's very human labor intensive (think immigrants from the south) and that's being shut down, as well as I don't have time to deal with managing a large crew. Nor do I have a well developed distribution system available to deliver truck crops.

Thanks Obama! Erm, or whomever!!

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Tariffs will be good for you and the economy.

MAGA

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5 minutes ago, SloopJonB said:

Tariffs will be good for you and the economy.

MAGA

Ya. I may seriously have to consider selling the farm. Developers have been trying to buy it for years. I guess that creates housing jobs for a time.

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Hey lookie lookie Fake @Hillary. Gropenfuhrer’s stock market had a huge rally today!!

biggest rally ever! 

 

 

95C22AA7-2A99-4DAB-ADCD-51D6DD0AD826.jpeg

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