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Holy Shit They Did It
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There was no deal. Trump was just making up bullshit as usual.RaceBannon said:
It jumped early on some oil deal between the Saudis and Ruskies. Fell back on historically bad unemployment and the usual shit we face these days. So far 19,000 has held as the bottom as we seem to be playing in the 21,000 range. I may open up a hedge fund.dflea said:I expected more of a reaction from the Dow. Maybe the big reaction is it didn't go in the shitter again today.
In other news gas prices are falling below 3$ a gallon in California even with the onerous taxes here. Too bad we aren't supposed to drive anywhere
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Actually I was making up the bullshit. I was wrong in saying there was a deal
https://foxbusiness.com/markets/us-stocks-april-2-2020
U.S. equity markets surrendered their gains Thursday afternoon after initially soaring in response to President Trump calling on Russia and Saudi Arabia to sharply cut oil production.
Following Trump's announcement -- which sent West Texas Intermediate crude oil soaring by 35 percent to as high as $27.39 per barrel -- Saudi Arabia called on OPEC members, their allies and other countries to hold an urgent meeting "with aim of reaching a fair agreement to restore the desired balance of oil markets."
Also on Thursday, China said it would begin filling up its reserves.
The Dow Jones Industrial Average gained as many as 534 points, or 2.55 percent, before returning to the flat line. The S&P 500 and Nasdaq Composite rose as much as 2.55 percent and 1.92 percent, respectively.
But I wasn't wrong -
Of course @insinceredawg continues to carry water for Putin. Water is wet.
If there was no call why did the Saudis react? -
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Decent article about the domestic impact. Doog bot's stamp of approval.YellowSnow said: -
EVEN A DUMMY LIKE ME UNDERSTOOD THAT. Caps lock is cruise control for cool.YellowSnow said: -
YBFEUW_Doog_Bot said:
How can I put this, it's like we sold someone our rolex at a premium and now in the financial crisis they are short dollars so they are selling us back the rolex at a discount. And even then, it's like we are giving them rez casino tokens instead while laughing in their face.Swaye said:
Finally, something I can understand.Pitchfork51 said:
As a drunken frat boy from a middling institution who majored in finance.....Swaye said:I still don't get it. Going to need to really spell this out for the dumb red.
USA rules.
Edit:oh right, and everyone in the whole trailer park is lining up to get this deal. -
I get it - it's like when your buddy decides to marry the chick he's been banging and living with for 7 years. It doesn't really change much, but making it official means he probably won't be getting many blowjobs. And she'll get half of his shit when the ship finally hits the rocks.UW_Doog_Bot said:
TBF this isn't a super change from the norm. As I've said many times, the US is the world reserve currency. The difference is that this crisis has solidified it's position as that and the FED is now openly acknowledging that instead of pretending otherwise. They have now made it easy to swap treasuries for dollars to create certainty in the world market for US treasuries. The only thing is, you are going to take a .25 shaving off as a premium.dflea said:I expected more of a reaction from the Dow. Maybe the big reaction is it didn't go in the shitter again today.
It boils down to the Fed is flexing it's muscles early rather than late in this crisis.
Where else are people going to put their money now? Euros? Rubles? RMB? Oil? Bitcoin? Lol.
Barring the American people voting for a socialist(could happen) the US should be the world reserve currency for another twenty years at least after this. -
That's because he's clueless and prone to emotional thinking.GreenRiverGatorz said:
I gotta hand it to you, your political ideology is in a fucking bizarre spot on the ole venn diagram. There aren't many ardent supporters of the gold standard who simultaneously despise Trump and bring him into every conversation unprompted.jecornel said:
What a great move to move to a fiat currency from gold. Brilliant!!UW_Doog_Bot said:
They need greenbacks to run their economy. It already was hurting them. Now it will even more. We can charge them a premium for every dollar they need to conduct business on the world market.salemcoog said:
So what tactics can be used to hurt China? They are our true enemy, I do know our economies are co dependent and so we don't want to wreck them. But how do we make them feel pain economically without hurting ourselves in the process.UW_Doog_Bot said:
We just basically had a forcible take over of the world economy. The US Fed is now the world's central bank. Anyone who doesn't play ball is going to be bent over and have the plunger inserted until it hits the back of their nasal cavity from the wrong direction.Swaye said:I still don't get it. Going to need to really spell this out for the dumb red.
This is precisely what Russia and China didn't want.
This is similar to after WW2 where the world economy was wrecked except for the US and we established the dollar as the reserve currency of "the west" but back then we had to have gold to back it.
The Don had all the intel they needed about the virus late December. This was a bigger plan to crumble the economy. Mass surveillance is coming. Facial recognition is in Washington.
You want to jackoff trump for cutting flights from china go for it. The federal response is and was garbage. It was clearly on purpose. -
Putin is the paramount of truth and goodness, don't you know?RaceBannon said:Of course @insinceredawg continues to carry water for Putin. Water is wet.
If there was no call why did the Saudis react?
