Is the stock market going to tank?

**summit** · 10-03-2019, 09:28 AM

Originally Posted by SumJongGuy

$350K is definitely middle class, perhaps "upper" middle class but these days I'd put "wealthy" as >$500K most places. Middle class income should pay for a mortgage on 4 bedrooms, 2-3 cars, and college for two kids comfortably.

I thought I was middle class... guess I'm lower middle class at best

**skaredshtles** · 10-03-2019, 09:56 AM

Originally Posted by Bobby Stainless

350k a year is ballin'? Maybe in South Dakota.

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**jackstraw** · 10-03-2019, 10:02 AM

Originally Posted by Summit

I thought I was middle class... guess I'm lower middle class

It's a state of mind bro.

I'm striving for the 'van down by the river' class.

**skaredshtles** · 10-03-2019, 10:03 AM

Originally Posted by jackstraw

It's a state of mind bro.

I'm striving for the 'van down by the river' class.

Come on down... the water's fine!

**ICantLogIn** · 10-03-2019, 10:08 AM

"The Federal Reserve Bank of New York added $33.55 billion to the financial system Thursday by using the market for repurchase agreements, or repo, to relieve funding pressure in money markets."

Is this confirmation of a bear market?

**skaredshtles** · 10-03-2019, 10:13 AM

Originally Posted by ICantLogIn

"The Federal Reserve Bank of New York added $33.55 billion to the financial system Thursday by using the market for repurchase agreements, or repo, to relieve funding pressure in money markets."

Is this confirmation of a bear market?

Maybe?

**4matic** · 10-03-2019, 10:14 AM

Two year note another big move lower today. Stoked for that! Lower rates and steeper yield curve is good for stocks in short term.

**jackstraw** · 10-03-2019, 10:16 AM

Originally Posted by skaredshtles

Come on down... the water's fine!

Ha! I'm trying man, I'm trying.

**4matic** · 10-03-2019, 12:20 PM

**4matic** · 10-03-2019, 05:29 PM

Traffic loosening up in 880 corridor:

HP Inc. will slash as much as 16% of its workforce as part of a broad restructuring meant to cut costs and boost sales growth amid the company’s first change in top leadership in four years.

The personal computer giant said it will cut 7,000 to 9,000 positions through firings and voluntary early retirement. The job reductions will help save about $1 billion by the end of fiscal 2022

**4matic** · 10-03-2019, 05:53 PM

HP adding $5b buyback. Stock is down 5% in the aftermarket. On sale!

Buybacks using cheap debt issuance and restructuring show lack of demand.

**ICantLogIn** · 10-04-2019, 12:46 PM

https://www.youtube.com/watch?v=6wtXDtQyF_c

Live: Fed Chair Jerome Powell delivers remarks at 'Fed Listens' event

**skaredshtles** · 10-04-2019, 03:40 PM

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**Platinum Pete** · 10-04-2019, 05:10 PM

Originally Posted by ICantLogIn

https://www.youtube.com/watch?v=6wtXDtQyF_c

Live: Fed Chair Jerome Powell delivers remarks at 'Fed Listens' event

That video is long. What's the synopsis?

**LightRanger** · 10-04-2019, 05:38 PM

Originally Posted by dunfree

personal opinion is that the auto-purchase slowdown is somewhat because a segment of consumers were anticipating, and want to buy a whole bunch of promised things (self-driving, long range EVs, direct replacement for gas EVs) that aren't here now in cars.

This is possibly me. Drive an old shitbox Honda as a commuter. 173k on the clock. Other car is a newer 4Runner that wife drives as the kid shuttle and our weekend/family/ski car. No payments. I'd like a new car, but want a pure EV with the 5kw solar system on our roof. Also want AWD. Current options that fit that bill (Tesla and Audi) are $$$. I could afford an AWD Model 3, but don't want to. Outlander and Crosstrek PHEVs are meh. But the Subie/Toyota joint EV is possibly what I'm looking for. And so I wait for now.

**4matic** · 10-04-2019, 07:51 PM

Originally Posted by Platinum Pete

That video is long. What's the synopsis?

The fundamentals of the economy are sound and we will use our tools to pursue our dual mandate.

**meter-man** · 10-05-2019, 09:46 AM

Only in the stock market thread do people think $350,000 income is middle class lol. Not even close. https://www.investopedia.com/financi...s-are-you.aspx

It's not wealthy, but it sure ain't in the "middle" - more like top 1-2% nationally and top 5% in SF/NY/LA.

**char_** · 10-05-2019, 10:03 AM

Originally Posted by dunfree

personal opinion is that the auto-purchase slowdown is somewhat because a segment of consumers were anticipating, and want to buy a whole bunch of promised things (self-driving, long range EVs, direct replacement for gas EVs) that aren't here now in cars. And more importantly - won't be for several years - no matter what chonky the techbro clown who's cars can't navigate parking lots claims to pump his stock.

It's probably linked to the fact that the average new car price is ~$33,000 this year.

**sirbumpsalot** · 10-05-2019, 05:12 PM

Originally Posted by Bromontane

In a pareto world there is no middle

Turns out it was a fictional family and perhaps designed to promote class warfare/outrage. Not sure and don't care enough:

https://slate.com/human-interest/201...=pocket-newtab

**Benny Profane** · 10-05-2019, 06:26 PM

Originally Posted by meter-man

Only in the stock market thread do people think $350,000 income is middle class lol. Not even close. https://www.investopedia.com/financi...s-are-you.aspx

It's not wealthy, but it sure ain't in the "middle" - more like top 1-2% nationally and top 5% in SF/NY/LA.

You must live in some worthless place.

**mud** · 10-05-2019, 06:38 PM

Originally Posted by LightRanger

This is possibly me. Drive an old shitbox Honda as a commuter. 173k on the clock. Other car is a newer 4Runner that wife drives as the kid shuttle and our weekend/family/ski car. No payments. I'd like a new car, but want a pure EV with the 5kw solar system on our roof. Also want AWD. Current options that fit that bill (Tesla and Audi) are $$$. I could afford an AWD Model 3, but don't want to. Outlander and Crosstrek PHEVs are meh. But the Subie/Toyota joint EV is possibly what I'm looking for. And so I wait for now.

Honda is bringing the hybrid CRV to the US market in 2020. It’s already received some good reviews in EU and Japan where they went on sale this year.

**SumJongGuy** · 10-05-2019, 06:57 PM

Originally Posted by meter-man

Only in the stock market thread do people think $350,000 income is middle class lol. Not even close. https://www.investopedia.com/financi...s-are-you.aspx

It's not wealthy, but it sure ain't in the "middle" - more like top 1-2% nationally and top 5% in SF/NY/LA.

Nope. What's really happening is that the lower/working class is growing as the middle class has shrunk dramatically. Ya, the median and mean incomes are a LOT lower. However, if we look at purchasing power.. what middle class families of the 50s through the 80s could afford, 2-3 cars, college for 2 kids and a decent self owned home now requires well over $150K a year in low cost of living markets. To live as well as the middle class families lived in the 50s-80s it takes $150K-$500K/year. Families with two working parents driving UBER and 2 other jobs each to pull together $80K aren't living comfortably at all. Paycheck to paycheck ain't middle class even if that's what most Americans are having to do now.