Major sell-off on Wall Street amid concerns economy is slowing

  
Via:  perrie-halpern  •  8 months ago  •  34 comments

Major sell-off on Wall Street amid concerns economy is slowing
The markets are down 3 percent over two days, as new data suggests the economy could be slowing and the trade war with China a contributing factor.

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Buzz of the Orient
1  Buzz of the Orient    8 months ago
"...new data suggests the economy could be slowing and the trade war with China a contributing factor"

Not just a contributing factor, it was the cause of it, and the whole world is going to feel the pain from a war started and continued by Trump.

 
 
 
XDm9mm
1.1  XDm9mm  replied to  Buzz of the Orient @1    8 months ago
Not just a contributing factor, it was the cause of it,

Honestly Buzz....   bring it on.

I'm tired of America being ripped off by China and every other country.

I'm actually very happy to have it happen.  I'm actually starting to see more products that say "Made in America" or "Made in the USA" and "Made in (name a country other than China)" and less and less "Made in China" (or here in the San Antonio area Heche en China)

Will there be some pain, yeah.  But so be it.   I'd rather suffer a little pain than have my grandkids working as clerks selling shit made in China to other Americans selling shit made in China.

 
 
 
Buzz of the Orient
1.1.1  Buzz of the Orient  replied to  XDm9mm @1.1    8 months ago

LOL.  You never can tell.  There is a Chinese town where there are a number of clothing manufacturers that renamed itself "Italy".  Their products are labelled "Made in Italy".

 
 
 
Jack_TX
1.1.2  Jack_TX  replied to  Buzz of the Orient @1.1.1    8 months ago

That's genius.

 
 
 
XDm9mm
1.1.3  XDm9mm  replied to  Jack_TX @1.1.2    8 months ago
That's genius.

Who knows.   I'm an old fart, but I remember a story about Japanese stuff being "Made in Usa"

I don't know the veracity of the story, but I do know there is a Japanese town called Usa, so who knows.  

 
 
 
Krishna
1.1.4  Krishna  replied to  XDm9mm @1.1.3    8 months ago
so who knows.  

Snopes knows.

 
 
 
Kavika
2  Kavika     8 months ago

With the new WTO ruling and the U.S. putting tariffs on additional EU products it will get worse. Next year when the WTO decides how much the EU can legally tariff the US because of Boeing you'll see it get even worse. 

 
 
 
XDm9mm
2.1  XDm9mm  replied to  Kavika @2    8 months ago
With the new WTO ruling and the U.S. putting tariffs on additional EU products it will get worse.

Such is life.   I'm not a big fan of European wines since we make pretty damn good ones here.  And other than some grossly overpriced 'Haute couture' bullshit the average American has no need of, what do they provide us?

Next year when the WTO decides how much the EU can legally tariff the US because of Boeing you'll see it get even worse

Next year it won't matter.  The European economy will already be in the tank, hell, they're almost there already.  And Boeing does not get the support and assistance that AIRBUS does.   So, that's an apples to oranges comparison.

 
 
 
pat wilson
2.1.1  pat wilson  replied to  XDm9mm @2.1    8 months ago

I'm not a big fan of European wines since we make pretty damn good ones here.  And other than some grossly overpriced 'Haute couture' bullshit the average American has no need of, what do they provide us?

The top import categories (2-digit HS) in 2018 were: machinery ($80.2 billion), pharmaceuticals ($71.9 billion), vehicles ($56.4 billion), optical and medical instruments ($32.3 billion), and electrical machinery ($28.1 billion).

https://ustr.gov/countries-regions/europe-middle-east/europe/european-union

 
 
 
XDm9mm
2.1.2  XDm9mm  replied to  pat wilson @2.1.1    8 months ago
The top import categories (2-digit HS) in 2018 were: machinery ($80.2 billion), pharmaceuticals ($71.9 billion), vehicles ($56.4 billion), optical and medical instruments ($32.3 billion), and electrical machinery ($28.1 billion).

Then I suggest we get our asses in gear and get to making our own.

Regarding pharmaceuticals, I would suggest we make 100% of them here, including ALL of the ingredients.   Unfortunately, the global market is TOO reliant on Communist China for the ingredients, and too many of those ingredients are being found to be tainted.

Vehicles?  I prefer American made, even the foreign named ones.  

Optical and medical instruments....   Yeah, Siemon has that pretty much locked, but they can be replaced.   But hell, Siemon makes everything from locomotives down to surgical needles.

Electrical....  see immediate above.

 
 
 
Jack_TX
2.2  Jack_TX  replied to  Kavika @2    8 months ago
With the new WTO ruling and the U.S. putting tariffs on additional EU products it will get worse. Next year when the WTO decides how much the EU can legally tariff the US because of Boeing you'll see it get even worse. 

I expect a "deal"...probably in the spring...where DT will declare victory in the "Trade War" and go back to pre-tariff status quo.  He'll campaign on the "victory" and the markets will get a new infusion of fuel to move higher.

The danger of that gambit is that other factors will have set in to suppress the economy.

 
 
 
Kavika
2.2.1  Kavika   replied to  Jack_TX @2.2    8 months ago
I expect a "deal"...probably in the spring...where DT will declare victory in the "Trade War" and go back to pre-tariff status quo.  He'll campaign on the "victory" and the markets will get a new infusion of fuel to move higher.

As the self proclaimed ''deal maker'' we'll have to wait. It could be a really really big deal or no deal.

The danger of that gambit is that other factors will have set in to suppress the economy.

There are signs that the economy is slowing. The big change will come when 70% of our GNP is domestic spending. If consumers stop or slow their buying then the bottom will drop out of the economy. 

I like following some of the indicators and some that are not leading indicators but do, to an extent, signal a warning. 

 
 
 
Vic Eldred
4  Vic Eldred    8 months ago

The Market is slowing down. The cause: A bull market that has to finally come down to planet earth? Uncertainty on trade? The weakness of the Dollar? 

Companies are reducing Capital expenditures. The bigger question for most people - will it effect hiring?

Jobs numbers tomorrow.

 
 
 
XDm9mm
4.1  XDm9mm  replied to  Vic Eldred @4    8 months ago
The bigger question for most people - will it effect hiring?

I don't think it will, at least seriously.  Americans are still buying and that's what is keeping our economy afloat.

Of course, with the Democrats doing all in their power to deflect from the strength of the American economy and even, yes do everything they can think of to persuade the American people of a recession including bogus impeachment nonsense, a recession is a foregone conclusion.

 
 
 
Vic Eldred
4.1.1  Vic Eldred  replied to  XDm9mm @4.1    8 months ago
Of course, with the Democrats doing all in their power to deflect from the strength of the American economy

Yup, they do control most of the media and here we are during a period of prosperity talking about a possible recession! When has that ever happened before?

 
 
 
Split Personality
4.1.2  Split Personality  replied to  Vic Eldred @4.1.1    8 months ago

When George Bush was running for election.  He predicted doom & gloom if we did not elect him.

He was partially right.  We still got the doom & gloom.

 
 
 
Krishna
4.2  Krishna  replied to  Vic Eldred @4    8 months ago
The Market is slowing down. The cause

Tariffs.

 
 
 
Dean Moriarty
5  Dean Moriarty    8 months ago

I've been expecting a recession for a while now. The economy is cyclical and we are overdue for a recession. 

"There were 33 business cycles in the United States between 1854 and 2009 based on the National Bureau of Economic Research. The average length of a growing economy is 38.7 months or 3.2 years. The average recession lasts for 17.5 months or 1.5 years. A full business cycle on average is 4.7 years."

https://www.forbes.com/sites/cameronkeng/2018/10/23/recession-is-overdue-by-4-5-years-heres-how-to-prepare/#318363db40d8

 
 
 
Vic Eldred
5.1  Vic Eldred  replied to  Dean Moriarty @5    8 months ago

Jobless claims still near 20 year low

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