Stock market on fire

[The Heretic]

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Aloha, Mark

I would just like the week to end with me NOT becoming unexpectedly poorer.

 

[bolus]

New $500 billion dollar repo facility to help bail out FIMA accounts (Foreign and International Monetary Authorities)

Statement Regarding Repurchase Agreement Arrangements

The Federal Open Market Committee on Wednesday announced the establishment of two standing repurchase agreement (repo) facilities—a domestic standing rep

www.federalreserve.gov

I wonder how much milk is going to cost to bail out foreign banks?

 

[bkroger86]

S&P500 had a 9% return in July.

 

[bkroger86]

First 12 days of August, S&P500 up another 3%+.

 

[The Heretic]

First 12 days of August, S&P500 up another 3%+.

After the dip, I was down about 17% YTD

Now I am down about 9% YTD.

I am thinking of doing a rollover from IRA to Roth as my house prep for sale is going very slow due to my back making it hard to do work while recovering from the pain. So I probably won't have tax on the profit this year.

 

[The Heretic]

After the dip, I was down about 17% YTD

Now I am down about 9% YTD.

I am thinking of doing a rollover from IRA to Roth as my house prep for sale is going very slow due to my back making it hard to do work while recovering from the pain. So I probably won't have tax on the profit this year.

Went ahead and aske to roll over $9K (should happen today or tomorrow - which is good theoretically when the market is down?) - a little under the max I can do without a tax liability (complicated by the SS calculations for taxable SS income vs my deductions). Gave myself a little room in case I miscalculated - once taxing SS income kicks in it seems it is not very gradual/linear.

 

[The Heretic]

Markets are fighting the Fed | CNN Business

Stocks have experienced a sharp summer rebound, easing fear among investors and boosting hopes the bear market has settled on an early hibernation. But at any moment, strategists warn, the Federal Reserve could deliver a reality check that jolts complacent traders.

www.cnn.com

Looks like I am going to have to wait till next year to see any growth in my IRAs.

 

[The Heretic]

I suck at trying to time the market.

It looked like we were getting an upswing, so I moved $ from my IRA to my Roth IRA, thinking I should do that before it got more expensive.

Then a week later big drop in the market.

*sigh*

Oh well, I'll just have to ride it out. I would have anyway, but now it looks like I will have to wait longer.

 

[bolus]

for those of you with pensions the SEC has removed the $1 billion cap on how much the OCC can tap if one of it's members defaults.

SEC Greenlights $35 Trillion Pension Pot For Clearing House Default

The Securities and Exchanges Commission (SEC) has removed a $1 billion cap on the amount of pension funds that can

www.trustnodes.com

the OCC (options clearning corporations) acts as both the issuer and guarantor for option and futures contracts. Here is the member list:

https://www.theocc.com/company-information/member-directory

So if any of these "too big to fail" banks defaults on risky bets, they will bail them out using funds from pensions.

I had previously said "nothing has changed since 2008" but in reality what has changed is how the banks will be bailed out when they fall. They can now literally take your pension when the next Lehman Brother's happens.

 

[sobo]

I had previously said "nothing has changed since 2008" but in reality what has changed is how the banks will be bailed out when they fall. They can now literally take your pension when the next Lehman Brother's happens.

Nothing to see here... Just laying the groundwork for the eventual and complete destruction of the American middle class and the institution of the elite's global NWO in which "...you will own nothing, and you will be happy..." Nothing to see here, sheeple. Go back to your homes. Move along... Move along...

 

[Provincial]

There is a paywall on the trustnodes site, so I didn't see the whole article. It did bring up the question of public sector pensions. Are they fair game now in any bailout. Or perhaps just state and local pensions. Or regular federal employee pensions. But not pensions of current or former politicians, I'm sure!

 

[bolus]

There is a paywall on the trustnodes site, so I didn't see the whole article. It did bring up the question of public sector pensions. Are they fair game now in any bailout. Or perhaps just state and local pensions. Or regular federal employee pensions. But not pensions of current or former politicians, I'm sure!

The rule that was passed:

Loading…

www.sec.gov

Its all the public pension plans.

and the best part:

"[T]he proposed change would allow OCC to seek a readily available liquidity resource that would enable it to, among other things, continue to meet its obligations in a timely fashion and as an alternative to selling Clearing Member collateral under what may be stressed and volatile market conditions."

Yep, instead of using the bank's collateral, they are going to use the pension plans as a liquidity source for options and futures.

all those pensions people worked for are going to be used by banks for risky bets

on a completely side note, do you think you'd ever see 1.6 million percent counterfeit shares?

 

[Member 52301]

Markets are fighting the Fed | CNN Business

Stocks have experienced a sharp summer rebound, easing fear among investors and boosting hopes the bear market has settled on an early hibernation. But at any moment, strategists warn, the Federal Reserve could deliver a reality check that jolts complacent traders.

www.cnn.com

Looks like I am going to have to wait till next year to see any growth in my IRAs.

The IRS leaked some IRA personal information on their main website.

This was in the news last week.

Have you checked to see if you are okay there?

Cate

 

[Member 52301]

The rule that was passed:

Loading…

www.sec.gov

Its all the public pension plans.

and the best part:



Yep, instead of using the bank's collateral, they are going to use the pension plans as a liquidity source for options and futures.

all those pensions people worked for are going to be used by banks for risky bets

on a completely side note, do you think you'd ever see 1.6 million percent counterfeit shares?

View attachment 1275633

Wow!

Cate

 

[ma96782]

So far.......the NASDAQ dropped over 4%.

Aloha, Mark

PS....sorry, I forgot to say that was just for TODAY, 09-13-2022, at that particular time of the day.

See Post #1,461 for the closing numbers for 09-13-2022

 

[bolus]

CPI is 8.3% today. Oh good, it is going down. we're out of the woods.

Well, that is, if you calculate CPI without food and energy. So remember everyone, until the economy is back on track, dont eat anything or use any energy. Should only be a few more months until the fed fixes it. (ignore the dark line on the graph that includes food and energy in the calculation)

 

[Certaindeaf]

So far.......the NASDAQ dropped over 4%.

Aloha, Mark

Yeabut as soon as The Inflation Act kicks in we'll be happy because bugs.

 

[bolus]

Fastest rise in food prices in all US history. I wonder at what point does it become cheaper to eat a billionaire than go to McDonalds?

 

[jblake00]

Bolus, if you have access to the rest of the trust nodes article, would you mind posting it for us to read?

 

[sobo]

Fastest rise in food prices in all US history. I wonder at what point does it become cheaper to eat a billionaire than go to McDonalds?

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And here I thought 6 months of emergency food/preps stockpile would be sufficient.
I can see I'm gonna have to double that within the next coupla months...