Bad Economic Predictions

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TheCatt
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Bad Economic Predictions

Postby TheCatt » Fri Mar 06, 2020 8:16 am

If you haven't refi'd your mortgage lately, might want to take a look. The bond market is falling apart. The lender (SoFi) we used is already offering 2.5% for 15, 3.0% for 30 without points. At least, when I went through their pre-qualification that's what it said.

Rates may go lower still.
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Bad Economic Predictions

Postby GORDON » Fri Mar 06, 2020 8:42 am

Finished my refi last week.
Fuuuuuuuck YOU.

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Postby Leisher » Fri Mar 06, 2020 9:59 am

“I'm proud to introduce our new head coach, Mike Tomlin”
― Dan Snyder

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Bad Economic Predictions

Postby TheCatt » Sun Mar 08, 2020 8:15 pm

10 year rates just went below 0.50%; 30 yr below 1.00%; S&P futures down 4%; Oil down to almost $30 as Russia + Saudi Arabia spark an oil war and OPEC cannot negotiate a production cut.

US + Canadian shale going to get hit HARD if prices don't recover.
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Postby GORDON » Sun Mar 08, 2020 8:28 pm

Gas prices here in NW Ohio dipped under $2 for the first time in.... 8 years? last week. Lasted 2 days, then jumped up 30¢.
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Bad Economic Predictions

Postby TheCatt » Sun Mar 08, 2020 8:29 pm

GORDON wrote:Source of the post Lasted 2 days, then jumped up 30¢.

How odd given oil's decline YTD.
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Postby GORDON » Sun Mar 08, 2020 8:29 pm

I always suspect collusion, but I have a suspicious mind.
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Bad Economic Predictions

Postby TheCatt » Sun Mar 08, 2020 8:52 pm

Gas prices have been overly stable for the past year, if that keeps up more than another month or two, super suspicious.
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Bad Economic Predictions

Postby TheCatt » Mon Mar 09, 2020 9:53 am

TheCatt wrote:Source of the post 10 year rates just went below 0.50%; 30 yr below 1.00%; S&P futures down 4%; Oil down to almost $30 as Russia + Saudi Arabia spark an oil war and OPEC cannot negotiate a production cut.

Stocks ended up hitting the 7% circuit breaker (Stops trading for 15 minutes after a 7% decline). But, seem to be holding that level post-breaker.

Stocks are down 18% +/- since their all time high.
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Postby TheCatt » Mon Mar 09, 2020 6:17 pm

Stock ended up a little further down. Already down 1% more after hours. I wonder where this all ends?
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Postby GORDON » Mon Mar 09, 2020 6:51 pm

DEATH TO THE CAPITALISTS!
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Bad Economic Predictions

Postby TheCatt » Mon Mar 09, 2020 7:23 pm

GORDON wrote:Source of the post DEATH TO THE CAPITALISTS!

Well, there are no more Capitalists. Trump is floating a payroll tax cut AND making sure hourly workers get paid no matter what.
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Postby Leisher » Mon Mar 09, 2020 10:10 pm

I was pondering a new tax idea. Could a tax cut for businesses be possible based upon how many people they employ. The key here being it would save the government all of most of the cost of that person being unemployed, while also being cost effective for businesses so it actually encourages hiring.

The point would be to encourage hiring instead of companies trying to run on skeleton crews. Make it so laying people off isn't necessarily a "go to" method of boosting quarterly/annual performance for stock gains.
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Postby TheCatt » Mon Mar 09, 2020 10:29 pm

Payroll taxes are directly based on payroll. They’re a relatively easy way to do employment based tax cuts.
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Bad Economic Predictions

Postby TheCatt » Tue Mar 10, 2020 12:39 pm

Image

Watching the headlines try to keep up with the stock market changes over the past 2 weeks has been fun.

Image

Image
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Bad Economic Predictions

Postby TheCatt » Thu Mar 12, 2020 9:37 am

Stocks fell 7%, hit the circuit breakers. Good job, Trump.
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Bad Economic Predictions

Postby TheCatt » Thu Mar 12, 2020 9:50 am

TheCatt wrote:Source of the post If you haven't refi'd your mortgage lately, might want to take a look. The bond market is falling apart. The lender (SoFi) we used is already offering 2.5% for 15, 3.0% for 30 without points. At least, when I went through their pre-qualification that's what it said.

Rates may go lower still.

Despite bonds still being depressed, mortgage rates have shot back up. One word is that there's simply too much demand for refinances, so theyve raised rates to slow things down.
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Bad Economic Predictions

Postby Leisher » Thu Mar 12, 2020 11:40 am

TheCatt wrote:Source of the post Stocks fell 7%, hit the circuit breakers. Good job, Trump.


I mean, not really his fault, BUT the asshole did say previously stock market crashes are the fault of the sitting president and "no excuses", so...
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Bad Economic Predictions

Postby TheCatt » Thu Mar 12, 2020 12:25 pm

Leisher wrote:Source of the post
TheCatt wrote:Source of the post Stocks fell 7%, hit the circuit breakers. Good job, Trump.


I mean, not really his fault, BUT the asshole did say previously stock market crashes are the fault of the sitting president and "no excuses", so...

The markets were flat last nightvuntil dumbass spoke
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Postby Leisher » Thu Mar 12, 2020 1:45 pm

Last night was absolutely his fault. I was saying the overall market dropping lately has not been all on him.

I do think he's done far more harm than not with the coronavirus hype.
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