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Misc Stock Market

severestorm said:
Looks like inflation's picking up speed again...
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have bought several used cars in the past 2-3 years - there seems to be no inventory for desirable, relatively inexpensive used cars (esp anything hybrid) still in 2023 - for example, an equivalent 2014 toyota camry hybrid sedan (own 3 of these) purchased 3 years ago now costs on average $4K more three years later
 
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Wow!
FsKA92pWYAA0niV
 
Here’s my issue with the banks. They can get more FDIC coverage but they would have to pay for it and they don’t want to. RBC has FDIC coverage of 5 million. Others have 2 million. Morgan Stanley has 500k.
 
severestorm said:
BRICS announced a shifting from Dollar to Chinese Yuan in Asia, Africa, and Latin America. It looks like they are following Egypt in moving away from the Dollar recently.
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The ironic thing you pick overseas deployed is just how much Americas enemies hate us and what their true intentions are for attacking us. One of if not the main reason is their desire to devalue the dollar. The Chinese and Russians are forging ahead with that goal as we speak
 
severestorm said:
BRICS announced a shifting from Dollar to Chinese Yuan in Asia, Africa, and Latin America. It looks like they are following Egypt in moving away from the Dollar recently.
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Lets see how that works out for them bc Russia tried it and can't get their money out of China unless they buy goods from China.
 
No snow for you said:
Lets see how that works out for them bc Russia tried it and can't get their money out of China unless they buy goods from China.
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They could go through the New Development Bank created by BRICS in 2014. I know Russia and China are making a SWIFT alternative. Maybe it's in it's final stages of development? Kenya was invited to BRICS summit recently too. Maybe they will apply to join when the application process opens back up.
 
Waited all day for this setup...morning low of $305.15 gave way late afternoon and then they yanked it up and ran into the close. Was the only trade of the day, in and out before close.

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drfranklin said:
that would be catastrophic...8th largest bank by assets in the US...$7.38T in client assets
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Vast majority of those assets are investable assets which would not be impacted unless Schwab co mingles the funds (ALA John Corzine). Also that would involve SIPC and FDIC. But I bet a Morgan Stanley or Goldman would love to buy them on the cheap.
 
Rain Cold said:
What street?
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Main Street News lol.

"The Federal Reserve’s higher interest rates after 12 years of zero interest rates are devaluing the asset side of banks’ balance sheets. This frightens depositors and they withdraw their deposits. Depositors also are withdrawing their money because they can get much higher interest rates on safe US Treasuries. According to some reports, $1 trillion has already been withdrawn from US banks. Bloomberg is reporting rumors that Schwab’s $7 Trillion empire based on low rates is cracking from bond losses. In the face of this vulnerability of the financial system, the Federal Reserve raised interest rates further."
 
Wow another loss for the Dollar. Things are happening very fast right now...

www.barrons.com

China, Brazil Strike Deal To Ditch Dollar For Trade

China and Brazil have reached a deal to trade in their own currencies, ditching the US dollar as an intermediary, the Brazilian government said Wednesday, Beijing's latest salvo against the almighty greenback.
www.barrons.com www.barrons.com
 
SPY with bearish engulfing daily setting up...market was very overbought. But it seems like they aren't going to just let the market completely unwind. Very tough.

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