I've been watching the $wings all week, so....
"Another up, down day on Wall Street" by Beth Healy Globe Staff August 25, 2015
The stock market took investors on a turbulent ride for a second straight day Tuesday, soaring on news of an interest rate cut in China, only to plunge in the final hour and close with another steep loss.
The Dow Jones industrial average shed an additional 204.91 points by the end of the session, to close at 15,666.44.
Now if that isn't an ominous sign, I don't know what is.
The day’s healthy gains evaporated in the dramatic end of trading, as nervous sellers drove the benchmark index down 510 points in the final hour.
Stock prices had tread water for much of this year, until China surprised the world by devaluing its currency earlier this month. Since then, stock markets have experienced much bigger price swings.
It's “likely to be volatile for a while,’’ and that's not a good $ign.
****************
Of course, I'm just “overreacting to events in China.’’
Goldman Sachs & Co. sought to reassure investors Tuesday, writing in a research note that it still sees the risk of a US recession as “extremely low.” The American economy is still poised to grow at more than a 2 percent clip for the year, Goldman said.
As if that was somehow some sort of manna!!!
That type of growth can't even generate enough jobs for graduates, never mind the decades-low employment of adults!
See: U.S. Economy Back on Track
Yeah, whatever.
But....
BUT WHAT?!!!!!!!!!!!!!!
(In college they told me that was a BAD WORD to use in a REPORT, and yet it -- and others like it, still being the most prominent -- is ubiquitous in my propaganda pre$$)
“This is part of a bottoming process.’’
--more--"
Things are looking up, in case you missed it:
"Consumer confidence rebounded in August to the strongest reading in seven months after falling sharply in July. The Conference Board said its index rose to 101.5, up from a revised July reading of 91.0. Board economist Lynn Franco said consumers’ more upbeat assessment was primarily due to a more favorable view of the labor market. The cutoff for responses to the survey was Aug. 13, a week before the deep plunge in stocks that began last Thursday. Those who viewed jobs as ‘‘plentiful’’ increased from 19.9 percent in July to 21.9 percent in August. Those who viewed jobs as ‘‘hard to get’’ decreased from 27.4 percent in July to 21.9 percent in August. Analysts said the jump in confidence should support stronger consumer spending. Analysts said the stock market turmoil will probably be offset by the steep decline in oil prices, which leaves consumers with more money to spend."
Revenues are plummeting!
They are HOPEFULLY DELUDING THEMSELVES, these so-called bu$ine$$ pages experts!!
Also see: Monday's $lice of Mellon
All gone now.
Related:
China cuts interest rates for fifth time in bid to stem rout
Didn't work.
Chinese turmoil could boost Boston real estate, for now
There is ALWAYS a $ILVER LINING!
I just checked (same yesterday) my watch; it's time to head home.
UPDATES:
Global Markets to Fed: No Rate Hike, the Strong Dollar Is Killing Us
Peter Schiff: Interest Rate Hike Could Spark Economic Collapse
US stock rally collapses amid fears of global slump
Things certainly couldn't get any worse, right?
I'm closing today's store. Sorry.
NDUs:
It's off the front pages (as predicted), and everything is back to normal!!
US stock markets close up sharply as global indexes show signs of stability....
But uncertainty about the future of China’s economy — the main trigger for the “correction” that drove the Dow down more than 10 percent in a week — and its impact on the United States have not disappeared. “Right now, you can’t pull anything out of it; you’d lose money.’’
Yes, leave your money in the hands of Wall Street looters and thieves! So $ayeth the corporate pre$$ and the Bo$ton Globe!!! (Still flowing out anyway)
Year may be a weak one for college endowments
How can that be with a soaring stock market all year and a rapidly expanding economy recovery? Huh?
"Market turmoil may delay a rate hike" by Binyamin Appelbaum New York Times, August 27, 2015
I just hit bottom.
