DiabloWags said:

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bear2034 said:

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Biden's Chair of Council of Economic Advisors as no background in economics.

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You'd be wrong (again) about that.
Jared Bernstein was the deputy chief economist at the U.S. Department of Labor.

He has very little to do with the economy.
Same goes for the President.

It's in the hands of the most powerful person in the country.
The Fed Chairman Jerome Powell.

Originally appointed by Trump.

Anyone with half a brain would know this.
But most MAGATS think that POTUS is in charge of gas prices and mortgage rates.
lol

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Your music and social welfare boy made it this far without getting caught!

oski003 said:

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Jpow, who Biden reappointed, is indeed a pretty powerful dude. Other than that, not sure why you butted your head in here and came down so hard on Bear2034, who was discussing Biden's chair of economic advisors. Did you have a tough day?

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Wags is experiencing major butthurt for shorting DJT?

bear2034 said:

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Question: They print the dollar. So why does the government even borrow?

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Do you want to take a shot at answering the question?

Nobody can answer the question (certainly not the idiot bear2034) because the answer is "because we always have".

There used to be a question, "why do we back our currency with gold?". And the answer was because we always have.

The fear is always devaluing the currency. But there are pluses and minuses. The pluses of fiat currency outweigh the pluses of the gold standard. We need to consider the pluses and minuses of printing instead of borrowing.

dajo9 said:

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Nobody can answer the question (certainly not the idiot bear2034) because the answer is "because we always have".

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This is most certainly the wrong answer.

dajo9 said:

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The fear is always devaluing the currency. But there are pluses and minuses. The pluses of fiat currency outweigh the pluses of the gold standard. We need to consider the pluses and minuses of printing instead of borrowing.

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Some in your generation are already transitioning to the bitcoin standard.

Boomers after financial advisers are given the green light to invest 1-3% in #Bitcoin ETFs pic.twitter.com/Wu1QGOOWQm

— The ₿itcoin Therapist (@TheBTCTherapist) May 4, 2024

bear2034 said:

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dajo9 said:

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Nobody can answer the question (certainly not the idiot bear2034) because the answer is "because we always have".

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This is most certainly the wrong answer.

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Then give us an answer.

And I'm Gen X

Interesting chart that makes me think we need more FTC intervention, as President Biden is doing

bear2034 said:

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oski003 said:

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Jpow, who Biden reappointed, is indeed a pretty powerful dude. Other than that, not sure why you butted your head in here and came down so hard on Bear2034, who was discussing Biden's chair of economic advisors. Did you have a tough day?

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Wags is experiencing major butthurt for shorting DJT?

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Cool story loser.

https://bearinsider.com/forums/6/topics/120452

Univ. of Michigan Consumer Sentiment tumbles to a 6-month low.

67.4 vs 77.2

Most downbeat since November.

Inflation expectations for the next 12 months rise to 3.5% vs 3.1% in last month's survey.

169 Days Til No Joe said:

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My goodness pic.twitter.com/wwjxvQSv4a

— Saagar Enjeti (@esaagar) May 19, 2024

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Average household net worth data can be overwhelmed by the 1%. Particularly in a year like 2020 when QE expanded from $4.2 trillion to $7.3 trillion. Median data would be far more meaningful to the average American.

President Biden's manufacturing boom
https://www.threads.net/@vote_blue_2024/post/C7KvNWIRje-/?xmt=AQGzli9coOtHujlbq4OCnnTid2Cjf-ptuajpTaHfkcBt_Q

> 7. The average voter thinks 24% of the U.S. budget goes to foreign aid (less than 1% does)

thanks, dint know that.

Today's stock market heat map.$NVDA is literally holding up the entire market. pic.twitter.com/NdJW8R4BGl

— The Kobeissi Letter (@KobeissiLetter) May 23, 2024

Nvidia is the stock market. The stock market is Nvidia.

bear2034 said:

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Today's stock market heat map.$NVDA is literally holding up the entire market. pic.twitter.com/NdJW8R4BGl

— The Kobeissi Letter (@KobeissiLetter) May 23, 2024

Nvidia is the stock market. The stock market is Nvidia.

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Today, the overall market is down due to stubborn inflation, and Nvidia is up since it just beat and raised once again despite lofty whisper numbers.

You can always invest in equal weighted S&P 500 index if you are concerned about overweighing of the Magnificent 7 in the S&P 500 index funds. The reality is that, while S&P 500 was primarily driven by the top 7 in 2023, the equal weighted S&P funds have actually performed better than S&P 500 overall this year., with value doing relatively well beginning of the year.

Nvidia and AMD (which I think people are not giving enough attention to) will continue to play an outsized role in the move to AI. More and more companies will need computing power to handle AI. I have been preaching Nvidia for years here, first because of the computing power needed for crypto mining and now because of amazing amount of processing capacity needed for AI. There are not a lot of players who can deliver what they can deliver. I have been investing in them for decades starting in 2000 when gamers demanded computers include Nvidia graphic chips because of the superior speed of their graphic chips. When a company has almost a monopoly despite competition because of the incremental value add of their products, they will outperform their competition in any market condition and deliver long term return. The management team at Nvdia has always looked around the corner. Like Apple, Amazon, Danaher, Roper, and with this CEO, Microsoft, Nvidia will out execute the competition. Unlike crypto (which, of course, goes down with equity because it's really a growth-based speculation), you can judge management, product superiority, and ability to beat and raise consistently.

Besides, whatever you may think of AI, companies will continue to invest in their AI capabilities. Although I usually don't like to invest in second place player, I even started investing in AMD two years ago. You have to appreciate the secular trends.

This past week the market traded at it's highest levels ever, presumably because of stubborn inflation

BA took the Dow Jones apart today along with INTC.

They accounted for roughly 240 points of the Dow's 600 point decline.

Looks like we got too many MILLIONAIRES at FIDELITY.

Better raise capital gains taxes to take it away from them so we can spend it on a Bullett Train.

DiabloWags said:

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Looks like we got too many MILLIONAIRES at FIDELITY.

Better raise capital gains taxes to take it away from them so we can spend it on a Bullett Train.

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Which is better for who?
Capital gains at 20% now or income tax rate at time of withdrawal?

DiabloWags said:

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BA took the Dow Jones apart today along with INTC.

They accounted for roughly 240 points of the Dow's 600 point decline.

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If S&P and Moodys downgrade BA's debt below investment grade rating, their interest rate will spike, worsening their cash flow for a capital expenditure intensive company. Not sure what is driving down Intel other than they just suck from a margin perspective (they are extremely bureaucratic) and Nvidia after the stock split may replace them in the Dow Jones.

Intuit (a company I invest in because of their innovative mindset and leadership) disappointed in their guidance as did Workday (not in my individual stock portfolio). With consumer sentiments down and with less relief expected on interest rate, stocks like Walmart and discount retailers may do better in the short run even if I never invest in those bear market stocks.

Cal88 said:

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bearister said:

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Stocks are up 12%, but 49% of Americans think they're down. What's going on? - MarketWatch


https://www.marketwatch.com/story/we-the-incorrect-people-49-of-americans-say-stocks-are-down-for-the-year-72-say-inflation-rising-8efd293e

1. A majority of Americans cannot name a single branch of government or explain what the Bill of Rights is;

2. 24% can't name the country that the U.S. fought in the Revolutionary War;

3. 2/3 don't know what the holding of Roe v. Wade is;

4. 2/3 don't know what the Food and Drug Administration does;

5. 50% don't know each state has two senators;

6. More than 50% can't name their congressman;

7. The average voter thinks 24% of the U.S. budget goes to foreign aid (less than 1% does);

8. 18% thinks the sun revolves around the earth;

9. 50% don't know that Judaism predates Christianity

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More relevantly in this case, about half of Americans don't own stocks.

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Even if they do, they may not know they do and think they are just investing in a 401(k) fund.

Yogi loves the slight lie. The tweet headline in bold is about households (median income $75k). All the data below it is about individuals (median income $40k).

I'm not trying to justify either of the numbers here. Just pointing out that Yogi loves a clever lie. He knows the difference between household and individual income. It's not like he is movielover or bearforce.