Re: Stock Market "Reset"?
[Re: jbyrd63]
#8126134
04/21/24 01:25 PM
04/21/24 01:25 PM
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Joined: Mar 2007
Posts: 35,183 McGrath, AK
white17
"General (Mr.Sunshine) Washington"
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"General (Mr.Sunshine) Washington"
Joined: Mar 2007
Posts: 35,183
McGrath, AK
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In 2009 the dow was 7600 and now almost 40,000. The usa as a whole must be in great shape.... LOL spoken like a true biden fan. Reality is stocks trading at 70 times didvidends is make belive money. Changing the way negative factors are measured to influence the market is what drives it now. Think about it. When rates went to 5.5 the world came to an end. Market plunged. BUT when it was 6.5 and there was a RUMOR that rates would drop in 3 momths it sky rocketed. Ask yourself what actually changed? I can tell you what changed and please fact check me. Bidens rating hit all time low. TRUMP passed him in the polls. Dems went to grasping for SOMETHING they could point at. Analyst keep saying American's are still spending. YES but the US citizens average debt quadrupled since last November. That bill will come due and look out. 2008 all over again. I don't think it will be as severe but close. Rates have not been 6.5 % since August of 2000
Mean As Nails
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Re: Stock Market "Reset"?
[Re: yotetrapper30]
#8126158
04/21/24 02:24 PM
04/21/24 02:24 PM
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Joined: May 2011
Posts: 1,405 Kansas
Kansas Cat
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Don't stop him now, he is on a roll! Watch out Marty, if Biden hears you are a fan he might call you personally. LOL.
Last edited by Kansas Cat; 04/21/24 02:25 PM.
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Re: Stock Market "Reset"?
[Re: yotetrapper30]
#8126232
04/21/24 05:44 PM
04/21/24 05:44 PM
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Joined: Feb 2014
Posts: 13,196 Ky
jbyrd63
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Re: Stock Market "Reset"?
[Re: Kansas Cat]
#8126258
04/21/24 06:15 PM
04/21/24 06:15 PM
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Joined: Feb 2014
Posts: 13,196 Ky
jbyrd63
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Don't stop him now, he is on a roll! Watch out Marty, if Biden hears you are a fan he might call you personally. LOL. If he was a woman he’d sniff his hair.
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Re: Stock Market "Reset"?
[Re: yotetrapper30]
#8126271
04/21/24 06:43 PM
04/21/24 06:43 PM
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Joined: Dec 2010
Posts: 11,217 Armpit, ak
Dirt
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Prime rate, federal funds rate, COFI The prime rate, as reported by The Wall Street Journal's bank survey, is among the most widely used benchmark in setting home equity lines of credit and credit card rates. It is in turn based on the federal funds rate, which is set by the Federal Reserve. The COFI (11th District cost of funds index) is a widely used benchmark for adjustable-rate mortgages.
Click on the links below to find a fuller explanation of the term.
Prime rate, federal funds rate, COFIUpdated: 2024-04-16 This Week Month Ago Year Ago Federal Discount Rate 5.5 5.5 5 Fed Funds Rate (Current target rate 5.25-5.50) 5.5 5.5 5 WSJ Prime Rate 8.5 8.5 8
Source Bankrate.com
Who is John Galt?
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Re: Stock Market "Reset"?
[Re: yotetrapper30]
#8126299
04/21/24 07:23 PM
04/21/24 07:23 PM
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Joined: Feb 2014
Posts: 13,196 Ky
jbyrd63
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Re: Stock Market "Reset"?
[Re: yotetrapper30]
#8126301
04/21/24 07:23 PM
04/21/24 07:23 PM
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Joined: Feb 2014
Posts: 13,196 Ky
jbyrd63
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Re: Stock Market "Reset"?
[Re: yotetrapper30]
#8126315
04/21/24 07:40 PM
04/21/24 07:40 PM
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Joined: May 2011
Posts: 16,660 Oakland, MS
yotetrapper30
OP
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Pretty sure White was referring to the federal funds rate, which is the one that is set by the Federal Reserve.
~~Proud Ultra MAGA~~
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Re: Stock Market "Reset"?
[Re: yotetrapper30]
#8126318
04/21/24 07:43 PM
04/21/24 07:43 PM
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Joined: Mar 2007
Posts: 35,183 McGrath, AK
white17
"General (Mr.Sunshine) Washington"
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"General (Mr.Sunshine) Washington"
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Posts: 35,183
McGrath, AK
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The discussion was not about mortgage rates or the prime rate that commercial lenders charge their best customers. You mentioned that the market reacted to a rumor that rates would drop in three months............You said............" was a RUMOR that rates would drop in 3 momths it (the market)sky rocketed". They weren't talking about mortgage rates. The "rumors" were about the Federal Funds Rate.....that is set by the Fed and all other rates are based on that rate. Ill say it again. The fed funds rate has not been at 6.5% or higher since August of 2000. https://fred.stlouisfed.org/series/FEDFUNDS
Mean As Nails
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Re: Stock Market "Reset"?
[Re: yotetrapper30]
#8126324
04/21/24 07:50 PM
04/21/24 07:50 PM
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Joined: Dec 2010
Posts: 11,217 Armpit, ak
Dirt
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"YES but the US citizens average debt quadrupled since last November."
"The total consumer debt balance increased to $17.1 trillion in 2023, up 4.4% from 2022's $16.38 trillion total. Growth in 2023 was slower than the 7% increase from 2021 to 2022. With the exception of student loan debt, almost every major category of consumer debt increased in the 12 months that concluded with Q3 2023."
Source: experian.com
Who is John Galt?
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Re: Stock Market "Reset"?
[Re: yotetrapper30]
#8126333
04/21/24 08:05 PM
04/21/24 08:05 PM
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Joined: May 2010
Posts: 10,515 MN
Steven 49er
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Rates should have stayed at 6.5 percent.
Before I'm asked what planet I'm from, I'm referring to the Federal reserve fund rate
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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Re: Stock Market "Reset"?
[Re: yotetrapper30]
#8126622
04/22/24 11:23 AM
04/22/24 11:23 AM
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Joined: Dec 2010
Posts: 11,217 Armpit, ak
Dirt
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I think 2008 was about Mortgage Backed Securities, not oil. However, you guys are telling the story.
Who is John Galt?
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Re: Stock Market "Reset"?
[Re: yotetrapper30]
#8126656
04/22/24 12:45 PM
04/22/24 12:45 PM
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Joined: Feb 2016
Posts: 3,585 Kentucky
ky_coyote_hunter
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Back in '08, the lenders were giving loans to people who had no prayer of paying it back.
Member - FTA
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