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Off-Topic Stock Market & Crypto Discussion

mr.h said:
Yes…no increase in tax revenue, with the largest military and keeping our social programs is a fairy tale
You can try to raise the age limits and try to take the waste out of military spending, but that isn enough.
Are you suggesting lowering taxes and allowing all their money to trickle down? If so, you are not serious about the debt. Reagan, Bush and Trump have a bridge to sell you.
When Trump lowered the tax rate for the rich, he went to Mar-a-Largo and announced that he made all the members richer. The tax would not apply to food or medical.
In the meantime APPL can break $180.
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Not a fan of adding additional layers when we can hardly enforce the complex tax code we have now.

How about simply enforcing anti-trust law making the rich have to produce cap gains to grow their wealth vs rolling it into ever-growing companies? Example: Musk had to sell billions of Tesla to buy Twitter. Bezos can purchase more tech companies under the Amazon umbrella without being forced to sell shares to do so. Heck, Musk did the same with battery tech and SolarCity under Tesla.
 
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90scane said:
Not a fan of adding additional layers when we can hardly enforce the complex tax code we have now.

How about simply enforcing anti-trust law making the rich have to produce cap gains to grow their wealth vs rolling it into ever-growing companies? Example: Musk had to sell billions of Tesla to buy Twitter. Bezos can purchase more tech companies under the Amazon umbrella without being forced to sell shares to do so. Heck, Musk did the same with battery tech and SolarCity under Tesla.
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We need more enforcement. This tax would be simple and fair and we are the only westernized country that doesn’t have it.
Think of the waste and overpriced military procurements, that is known, and we have never reined it in. Every bill passed is thousands of pages and neither party will cut through the bureaucracy, because that is part of big government. I’m just being realistic.
 

08:15		USDADP Employment Change(May)278K1.30170K291K
08:30USDContinuing Jobless Claims(May 19)1.795M-1.8M1.789M
08:30USDInitial Jobless Claims(May 26)232K-235K230K
08:30USDInitial Jobless Claims 4-week average(May 26)229.5K--232K
08:30USDNonfarm Productivity(Q1)-2.1% --2.4%-2.7%
08:30USDUnit Labor Costs(Q1)4.2% -6%6.3%
Goldilocks…not to hot, and not to cold. Expect the same thing tomorrow with payroll and unemployment.
 
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For those invested in DMEHF...

www.desertmountainenergy.com

DESERT MOUNTAIN ENERGY PROVIDES OPERATIONS UPDATE

The Company wishes to apprise shareholders that it has continued to complete planned work as previously outlined, per the use of proceeds from the last financing.
www.desertmountainenergy.com www.desertmountainenergy.com

Nice day today...

1685641112369.png
 
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Senate passes Debt Limit Bill. This was all Ca Ca..

image know GIF

just for show..and the Mkt. knew it.
 
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08:30USDAverage Hourly Earnings (MoM)(May) 0.3% 00.3% 0.4%
08:30USDAverage Hourly Earnings (YoY)(May) TRADE NOW4.3% -0.404.4% 4.4%
08:30USDAverage Weekly Hours(May) TRADE NOW34.3-0.5234.434.4
08:30USDLabor Force Participation Rate(May) TRADE NOW62.6% 2.5062.5% 62.6%
08:30USDNonfarm Payrolls(May) TRADE NOW339K1.25190K294K
08:30USDU6 Underemployment Rate(May) TRADE NOW6.7% 0.606.6% 6.6%
08:30USDUnemployment Rate(May) TRADE NOW3.7% 1.363.5% 3.4%
unemployment up
payrolls up
 
90scane said:
Even signing the debt ceiling increase will create additional pressure on the markets. For the last 9 months, the Treasury has been burning through its funds to pay government bills. Once the ceiling is increased, the Treasury is going to flood the market with $1-1.5T of T-Bills to refill their coffers. This will mean fewer deposits at banks (additional liquidity/credit crunch) AND fewer investors in equities as T-Bills are less risky with the ceiling raised.

The irony, it looks like this bill is more likely to be the Inflation Reduction Act of 2023 compared to OLD Joe's Inflation Act of 2022.
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Higher rates have been making T bills more popular for a while now. The economy is still holding. Actually, I would prefer money to flow into short term bonds since the liquidity would appear without penalty within a year and halt major collapses of equity markets. A much better alternative than people over leveraging into stocks and a bunch of private debt in the face of a bear market.

The debt ceiling deal will hopefully slow down the deficit spending. Less deficit spending should slow down inflation and give Powel reason to chill out.
 

2. Bearish bets against the S&P 500 are surging.​

Hedge funds and other speculative investors have built up a big bet that the S&P 500 will decline, marking their most bearish positioning since 2007. The S&P 500 is up 12% this year, but it would be negative without the contribution of seven tech companies. That potentially leaves the index vulnerable to a steep pullback if even one or two big companies misstep. In coming days, investors will get a fresh look at U.S. service-sector activity with the Monday release of the Institute for Supply Management index for May, along with insight into the April trade deficit on Wednesday.
 
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Tony4Miami said:
Anyone on here do this??

👀

www.businessinsider.com

A Wall Street trader made a $7.5 million windfall on a suspiciously-timed investment ahead of a surprise debt limit deal concession

Green-lighting a 300-mile pipeline was a shocking concession included in the debt ceiling deal, but not for one trader who bought 100,000 call options on the owner.
www.businessinsider.com www.businessinsider.com
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If anyone did, the would be admitting to insider trading. On hindsight though, both sides needed a yes vote from Manchin, and this guaranteed it, so perhaps it shouldnt be that much of a surprise.
 
Probably needed, but its going to make banking even less profitable, and it will hurt lending and the economy.

Edit: It doesnt address a core issue that in the internet era, Treasuries and non banks can offer higher rates than traditional banks.

www.wsj.com

WSJ News Exclusive | Big Banks Could Face 20% Boost to Capital Requirements

Those relying on fees might need bigger buffers to absorb losses under planned rules.
www.wsj.com www.wsj.com
 
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