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Forum Post: Wall Street is going down.

Posted 4 years ago on Feb. 2, 2016, 1:24 a.m. EST by Shule (2638)
This content is user submitted and not an official statement

Anybody check out the stock market lately? It has been diving since last year, and it doesn't look like it is going to find its way up anytime soon. Seems like all the world markets have been taking a dive. The Shanghai market has been leading the dive. The only reason it still exists is that its on life support by being constantly bailed out by the China government. I hear Walmart recently closed a lot of stores as the China sale is over. But what I think is happening is that we are seeing the beginning of the end. Finance markets, and along with them our entire world finance system, are proving they do not work.

Obviously, stock markets are not a smart place to put one's money these days. (Better to take one's chances with a powerball ticket.) Time to sell what little anyone might still have before the whole wretched thing collapses from its own patheticness..

But no reason for us on Main Street to dispair. Let us rejoice! The 1% parsites are going down along with their bogus ripoff markets that they themselves created. May we all hope and pray that this will be the end of Wall Street as we know it. I shed no tears for those stock brokers jumping out of windows. I only hope they don't hit any people on the way down, and that the NYPD will have not too hard a time scraping the splattered scum from the sidewalks.



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[-] 5 points by elf3 (4187) 4 years ago

Now more than ever Occupy needs to rise and pounce while the iron is hot...multinational conglomerates control the economy and therefore control the world...given we seem to be falling back to a medieval model perhaps this is not good for the entire globe. We need to make waves and make it a topic of the election...it is time to strike.


[-] 1 points by DKAtoday (33802) from Coon Rapids, MN 4 years ago

Oil prices steadily dropping (28.00 per barrel now?) = good for the small business owner as well as individual household - but for some reason stated as bad for big business (invested too deep in it?) - Prices likely to continue to drop as Iran makes up for lost time in their oil production sales - all this making fracking a very expensive endeavor (good for us again if it slows or stops fracking for being to expensive - imo).

[-] 1 points by grapes (5232) 4 years ago

Many big businesses have significant overseas revenues. With the U.S. being the only huge developed economy still chugging along (0.7% GDP growth in the last quarter, not great but still so much better than others!), it's the safe place to park capital so the U.S. dollar is bid up by the flight capital, ill-gotten or otherwise. Those overseas profits of the businesses shrank due to the currency exchange rate. Stock prices try to track the present value of the future stream of earnings discounted by inflation. Earnings drop means stock prices fall.

The average consumers and the small businesses are not as linked to overseas as the big businesses so they benefit from the strong dollar buying oil, a worldwide most-traded commodity.

Oil going down in price is now construed to mean that the GLOBAL economy may slip into a global recession so the prospect for businesses is not good. Japan, Switzerland, Sweden, and Germany all have a form of negative interest rate already. China has been propping up its stock market with many measures but the spectacle of formerly stalwart China "crossing the river bare-footed by feeling the submerged rocks with toes" is very disconcerting to most, especially with a scream or two from time to time.

It would not be a big deal if China were NOT the second biggest economy in the world but so much for that!