All U. S. Market indices crashing hard again today. What do you think?

[Wade12345]

Stocks and Bonds should be banned. It's a ponzi scheme. Nevermind crypto, which is unconstitutional and should be banned. stocks ar ea ponzi scheme.

Updates

+1 y

Amazon down 7.1%
Dow down 3.5%
Nasdaq trading was halted I think.

Updates

+1 y

All precious metals lost money today, but energy prices are up again...

Typical recession indicator, and inflation too. last big recession wasn't acompanied by so much inflation.

This fulfils a prophetic dream another man had about 2 years ago on Youtube.

[Smoke-n-Growls]

Dude, calm down. We've been overdue for a crash and this is still just can kicking from the '08 crash.

CDOs never went away. The underlying instability and manipulation of the US financial markets (and, by extension, the global markets) has only gotten worse.

80% of USD in circulation today was printed from 2020 to now.

This is all a result of a poorly regulated financial industry that has been built on criminality and corruption.

Honestly, we're just heading into The Great Depression 2.0.

Crypto has problems, yes, but it's far from the cause of this mess. The cause of this is the unregulated US financial industry who never learned from the mortgage crisis of '08.

[Wade12345]

Do you realize how worthless is this entire system of economics?

[Wade12345]

The worst case indicator is when you have inflation at the same time everyoen losing money, and energy goes up and then precious metals all go up at the same time, like 2008 when precious metals and energy both went through the roof during the crash.

[Smoke-n-Growls]

Yes, I've been anti-Capitalist for many years and agree the current system is absolutely fucked.

It is, however, worth quite a bit to the elites it is built to serve.

Billionaires gained $3.4 Trillion during the pandemic, while the average American loss is totalling $3.1 Trillion.

The system is built to syphon money away from honest people and concentrate it within the Capitalist class.

The system is worthless to the average person, but very much to the benefit of the capitalist elite.

[Wade12345]

if inflation gets bad enough and regulations get tight enough, material costs will shut down the construction industry, which is the REAL economy, and then millions of construction workers will be out of business.

[Wade12345]

I know how to make a Cryptocurrency that is fair and would have real intrinsic value. you back it with buying real-estate.

[Baredog69]

That's what happens if you spend so much money and raise taxes, so you can spend more money to raise more taxes, so you can print more money, to raise or taxes to print more money you get what we have today. Joe Biden economy tax and spend typical Democrat move. Damn they love spending the money. Problem is you're making it worthless by printing and driving inflation. In the hampster wheel we go. You can't spend your way out of inflation.

[Wade12345]

I'm independent and I agree with you, but i hate both political parties. There's too much corruption on both sides in our government.

We actually need to stop Earned income Xredit and refundable child tax credits. This would stop illegitimate child births and force parents to pay for their children's own upbringing. We actually need a flat tax in the U. S. or at least a "flatter tax' like China has. Even the poorest people in China pay 3% income tax. The only tax credits in China are rental credits for migrant workers, and education credits. Everyone pays taxes, not just the rich. I'm actually dirt poor, and I'd rather pay more tax than destroy the entire economy through a false economic principles of the Dummycrats.

[Wade12345]

Like for example, the golden age of the U. S. was before refundable credits were even invented.

It's not the governments job to baby-sit children. That's the parents' responsibility.

[Baredog69]

You sound like a fine outstanding libertarian. Pleasure to meet you.