Welcome to Thunderdome

"Yeah but that's going to be good because..."

~someone

Good times in France.

Leisher wrote: ↑Tue Oct 11, 2022 9:08 pm Good times in France.

yay strikers!

Inflation still hot, 10 year above 4%

The consumer price index for the month increased 0.4% for the month, more than the 0.3% Dow Jones estimate, according to the Bureau of Labor Statistics. On a 12-month basis, so-called headline inflation was up 8.2%, off its peak around 9% in June but still hovering near the highest levels since the early 1980s.

0.4 annualizes to between 4.2 and 5.4%, so the pace is cooling, but not as much as people hoped.

Serious question.

You know how I feel about Wall St. (Believe in its purpose, but it has flaws.)

Can any part of inflation be traced to the Wall St "make more profit every quarter or watch your stock plummet" system?

Point being, while I realize the cost of making goods and/or providing services has obviously gone up as raw materials and labor increased (covid, lockdown, labor disappearing, Ukraine, etc.), but is it ridiculous to also suggest that some corporations might take advantage of the situation and raise prices a bit more than they actually need to in an effort to stave off Wall St or simply boost their stock prices?

NOT saying this is a major factor in inflation, just wondering if it's reasonable to assume it exists.

(Almost) Every company's job #1 is to make profits, and to make as high of a return on money/assets as it can. If the government throws trillions of dollars into the economy, people have more money, and there's more demand. So, OF COURSE they are going to raise prices as much as they can. But they always will. So the question is: What's different? More demand, more $$.

Conference Board LEI (leading economic indicators) gave a 68% when I checked earlier this week.

The business world told the fed not to hike rates anymore because it could make things a lot worse.

The fed responds with a .75 rate hike.

Leisher wrote: ↑Wed Nov 02, 2022 3:19 pm The business world told the fed not to hike rates anymore because it could make things a lot worse.

The fed responds with a .75 rate hike.

The Fed basically said they would do this weeks ago, and would hint at re-evaluating future hikes. And that's what they've done.

Let's see how the economy responds.

I'm betting I'll be house hunting again come spring.

Leisher wrote: ↑Wed Nov 02, 2022 3:42 pm Let's see how the economy responds.

I'm betting I'll be house hunting again come spring.

Nevermind, turns out he added this part at the end, which spooked the markets a bit

"premature to talk about pause in rate hikes"

TheCatt wrote: ↑Thu Oct 29, 2020 4:05 pm

TheCatt wrote:

TheCatt wrote: Another month later, and AAPL + AMZN just announced blow out earnings for Q2 2020.

AAPL hit $2 Trillion market cap today.

Went up, went down, still $2T 3 months later. AMZN at $1.6T, and both announcing earnings today.

AMZN: (Stock up about 1% after-hours) beat big.
Earnings: $12.37 vs $7.41 per share expected, according to analysts surveyed by Refinitiv
Revenue: $96.15 billion vs $92.7 billion expected, according to analysts surveyed by Refinitiv

Well, things have changed. AMZN becomes the first stock to lose $1 Trillion of market cap

Inflation continues to ease.

The consumer price index, a broad-based measure of goods and services costs, increased 0.4% for the month and 7.7% from a year ago. Respective estimates from Dow Jones were for increases of 0.6% and 7.9%.

Excluding volatile food and energy costs, so-called core CPI increased 0.3% for the month and 6.3% on an annual basis, compared to respective estimates of 0.5% and 6.5%.

USed car prices down 2.4% month over month.

Is inflation easing, or is inflation still increasing but the rate of the increase is easing?

I could click the link but fuck that, just tell me.

GORDON wrote: ↑Thu Nov 10, 2022 9:22 am Is inflation easing, or is inflation still increasing but the rate of the increase is easing?

I could click the link but fuck that, just tell me.

By definition, inflation is increasing. Otherwise it's called deflation.

I don't have the link, but there's a large construction company that has announced they're laying off X workers soon. The article was discussing how it was another sign that housing is about to crash.

I keep seeing Feb/March as the "this is when the housing market tanks" predictions.

Leisher wrote: ↑Thu Nov 10, 2022 10:50 am I don't have the link, but there's a large construction company that has announced they're laying off X workers soon. The article was discussing how it was another sign that housing is about to crash.

I keep seeing Feb/March as the "this is when the housing market tanks" predictions.

I was watching houses on lakes in northern Michigan. I have about 10 saved on Zillow. All of them are priced 100-130% higher than they were priced at the end of 2019, early 2020. These are houses that were $400k back then priced at $800k+ plus right now. They were on the market most of the summer. In the last month, half of them have sold at these ridiculous prices. A few of these houses were listed pre-pandemic at normal prices, but didn't sell. Some were bought just before the pandemic, and are now listed at twice the value.

I want to punch these people in the head for buying. Just encouraging the market to stay like this. It was almost as if everyone was in agreement all summer that we weren't going to participate in this kind of fucked up market. But then one idiot bought and a bunch of others jumped in for some irrational reason.

I REALLY hope there's another recession and housing crash. Would love to be able to pick one of these up on a short sale.

Wholesale inflation #s very low - 0.2%

In other economic news, the Empire State Manufacturing Survey for November registered a reading of 4.5%, much better than the estimate for a -6% reading.