Official saddo financial thread

**walrus** · 10-12-2018 12:35 AM

(Bloomberg) -- Plunging global markets lopped $99 billion from the fortunes of the world’s 500 wealthiest people on Wednesday, the year’s second-steepest one-day drop for the Bloomberg Billionaires Index.

Amazon.com Inc. founder Jeff Bezos lost $9.1 billion, the most of anyone on the index, as shares of the online retailer fell the most in more than two years. The plunge lowered Bezos’s net worth to $145.2 billion, its lowest since July.

https://www.bloombergquint.com/marke...thy#gs.gJkU_nU

**Gandalf** · 10-14-2018 01:49 AM

Not enough, I want a proper correction. 40-50% is reasonable. And to then respond by making interest rates 5%. Flushing the toilet every now and then is really not a bad thing. If you owe a debt on a house that is 20 years long and rely on low interest rates then you rely on cronyism. I want a real economy that works properly with no QE or artificial stimulation. It just blocks the toilet some more. Flush it! Brock knows about this kind of thing. @brocktonblockbust

**walrus** · 10-14-2018 02:47 AM

Originally Posted by Gandalf

Not enough, I want a proper correction. 40-50% is reasonable. And to then respond by making interest rates 5%. Flushing the toilet every now and then is really not a bad thing. If you owe a debt on a house that is 20 years long and rely on low interest rates then you rely on cronyism. I want a real economy that works properly with no QE or artificial stimulation. It just blocks the toilet some more. Flush it! Brock knows about this kind of thing. @brocktonblockbust

A drop of 40 to 50p is prob not likely anytime soon. I’d say 20% would be more likely. A forty to fifty percent drop would make a lot of us who short or invest on vix etfs very wealthy. It’s been a nine year bull. I was not shocked or nervous at all during that drop. When your up 300-500 percent over the years the short term drops don’t mean much. I’m really thinking we will be ok till 2020 or 2021. We are definitely due for a correction and with all the major trading done on algorithms the sell offs tend to become more extreme. It really doesn’t seem P/E are crazy at the moment. We have some like Netflix and Tesla which are insane but nowhere near the tech bubble. I say all this knowing I could be 100p wrong. Investing is never a 100p correct thing, there are a shitloads of too late, too early, should have got more and should have got less. Don’t hope for the worst miles, you know what the worst feels like, it’s not nice. The worst will always come, it doesn’t need our encouragement

**Gandalf** · 10-14-2018 03:01 AM

I feel a bit puritanical in that sense. I kind of want all the bad actors and people who have borrowed badly to drown. The current environment does not help people who have done the right things. For instance low interest rates have meant old people who relied on savings get screwed while some yuppie is able to borrow cheaply to pay for a big house or get an SUV he hasn't got the cash for.

Maybe the Fed needs to be disolved. Let the market itself be the judge because QE, manipulated rates etc is a form of financial fascism. The banks fail, then let them fail. he Fed is their insurance, not ours.

**walrus** · 10-14-2018 03:46 AM

Originally Posted by Gandalf

I feel a bit puritanical in that sense. I kind of want all the bad actors and people who have borrowed badly to drown. The current environment does not help people who have done the right things. For instance low interest rates have meant old people who relied on savings get screwed while some yuppie is able to borrow cheaply to pay for a big house or get an SUV he hasn't got the cash for.

Maybe the Fed needs to be disolved. Let the market itself be the judge because QE, manipulated rates etc is a form of financial fascism. The banks fail, then let them fail. he Fed is their insurance, not ours.

I agree in part. I’m reading the sept economist and it talks about the rigged market. The fed was way to easy with the banks leading up to the crash. However, with the crash, the big boys, except Lehman brothers, did just fine. It was the normies with 401k and moderate investments who get screwed with 0 bailouts. People are just trying to live and get a little bit ahead for retirement. I don’t wish bad on any of them.

**brocktonblockbust** · 10-14-2018 10:11 AM

I agree with Miles 100% on this in fact I will take it much beyond the economy and just bring it to the entire species of homo sapiens. I want to see the whole thing get flushed down because it is a joke and people take themselves way too seriously that's why I like to poo poo Everything cuz Everything really is poo poo and needs to be flushed just like @Gandalf has said

**walrus** · 10-18-2018 10:41 AM

Well you have Bezos then you have the rest of the world

In a twice-yearly report the World Bank found the number of poor worldwide was still "unacceptably high"
Despite progress in reducing extreme poverty, nearly half the world's population lives on less than $5.50 a day, with a rising share of the poor in wealthier economies, the World Bank said Wednesday.

In a twice-yearly report, the bank took a broader look at poverty to see where countries were lagging, even though the share of those living in extreme poverty—defined as earning less than $1.90 a day—has continued to come down in recent years.

https://m.phys.org/news/2018-10-world-day-bank.html