Note 8/09/24 - I have changed the title of this thread and its category designation (now “Off-Topic”). The tenor and content have shifted from post market correction investment ideas to the federal deficit and which political party is right. I appreciated all the investment ideas the thread generated during its first 3 or 4 days. Thanks to all who contributed.
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Listened off and on overnight as Bloomberg ‘s commentators kept score on the carnage in Asia (Warren Buffet’s name mentioned at least 100 times).
After the sun rose across the Western markets, Monday didn’t progress as a full blown train wreck. More like a bunch of overloaded cars jumping track, colliding, rolling over and in some cases spilling the goods - all apparently juiced by issues across trading platforms, We’ve all lived through worse. .
Nothing across the dozen or so potential buys I track leaped out as worth grabbing off (particularly as it would require selling something else). Nothing I own surprised enough to consider selling. There was brief thought to making a bid in the beaten up commodities sector - especially energy, That area largely recovered by day’s end.
It will be interesting to see the explanations from Schwab, Vangard, others about the cause of their platform issues and how they plan to prevent it from happening again. Did you make any changes yesterday / today based on these events?
Comments
There will be other opportunities, I'm sure.
The media keeps using the R word (recession), and the market rolls over. Was yesterday capitulation, ending a correction? Or the start to something else? Either way, I'll add more as time passes.
CA earthquake (The Big One) is a good analogy.
The debit crisis can has been kicked around hard by both left and right at least since I was old enough to read U.S. News & World Report which is the year Goldwater ran for President. A real issue of course - but
difficult to analyze rationally… difficult to apply to investment strategy.Good luck to you if your plan is not to invest out of fear of the debt crisis … or illegal immigration … or crime in the cities … or climate change … or draught … or earthquake, abortion - or gay people … or perhaps an extraterrestrial invasion. The last one would garner a lot of media attention and probably drive up the value of Paramount, Comcast, Disney.
(I should have said instead: “easy to rationalize”)
PS - I’ve deleted the short referenced “aside” in my commentary which added no substantive value but elicited the wrath of one reader!
@davidmoran- Well, maybe I've been missing something. Can you point me to a major candidate for president or a major political party honestly worried about the ever-increasing national debt?
Crash said:
gotta bring down that astronomical debt. For so many reasons.
You replied:
Last time that I looked there was neither a major candidate for president nor a major political party saying anything of the kind.
Crash said:
Until there's a crisis ready to fall upon us imminently, nothing gets done, eh?
You said:
Yep.
Regardless of whether the debt is 'astronomical' and needs immediate reduction somehow/anyhow (https://www.nytimes.com/2024/06/06/opinion/national-debt-us-taxes.html), my response was grounded in knowing that both parties have repeatedly proposed solutions that would effect some reduction: wise and practical (Democrats, tax reform and tax increases) or foolish and punitive (Republicans, cutting services).
So I was disputing the glib response of it's hopeless. Maybe I misinterpreted you. I am triggered by cynicism these days more than ever.
Prudent moves.
Republicans are irresponsible in excelsis but extremely extremely effective (opposite of feckless)
Democrats are not pretending and never have been
Jeeezus, man
How many years have passed, with either Dems or Reps in elected leadership, and we still don't have a universal, national health plan? How many domestic terroristic attacks have there been involving rifles and guns? How many lives lost? And still, there is no Gun Control with teeth, anywhere. (I see an isolated recent MD court decision upholding a semi-automatic gun ban.)
How long will it be before we ditch the preposterous Electoral College, too? Answer: it will never happen. It's too big a lift. And when the minority can trump the majority via the E.C, they sure do not want it to go away. But the Interstate Compact is getting closer and closer to the magic 270 Electoral Vote threshold:
https://en.wikipedia.org/wiki/National_Popular_Vote_Interstate_Compact
Both Parties are beholden to Big, Sweaty Money. I do see a difference in this respect: though there have always been policy differences, both Parties at least formerly were working from the same playbook, with the same fundamental, foundational values. No more. The Repugs have moved off the Reservation and have prioritized their own survival at any cost, because they know they are shrinking.
"Feckless:" Lacking the courage to act in any meaningful way.
Yes, this is way off topic. I'll delete it soon. Just responding.
@hank has rearranged things. I suppose my message DOES fit, now...
mmm...so any time someone starts discussing politics, we are going to change the title?
This is why politics should not be discussed on an investment forum and since one side posts about it 4:1 or 3:1 more than the other side, please stop. It's getting boring and silly.