Dow drops 350+, plus 530 today, oil drops to $40 a barrel

observer

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observer

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Not so much of a surprise but a slow realization that this was real. Stay alive until 08 was the mantra in 07. Survive until 9 in 08. Went on for a few years.
Plenty of real estate agents were as greedy as everybody else And suffered like everybody else. . It was always crazy to see foreclosures and short sales owned by agents. Me, I have a personal motto, never sell a piece of California property unless you have to. YMMV We went all in, saved our home and 2 rentals. But there was a heavy price to pay. Driving for UBER today.
Sometimes, it pays to not get too attached, I sold that house for a little over 400K. One year later it was worth 200K. Now, seven years later it is up to 300K.

Not only did I keep an extra 100K, I also saved the difference between the mortgage payment and what it would have rented for, a difference of approximately 42K over the seven years.
 

elelegido

Well-Known Member
I think one day, the China we now know, will cease to exist. Much like the Soviet Union.

http://www.zerohedge.com/news/2015-08-23/global-trade-freefall-container-freight-rates-asia-europe-crash-60-three-weeks

Their economy will tank and there will be lots of hungry, unhappy people.
Maybe communism won't last in China, like it didn't in the Soviet Union, but communism was the strongest identifying link between them - the two countries have totally different histories.

Soviet Union - Russia forced the Soviet Republics to become part of the Union and then did not allow them to secede. Unification was based more on modern politics than culture, so it was always going to be fragile.

China - kingdoms/regions united under dynasties (on and off) for centuries - there isn't the sense of desire for independence in ethnolinguistic regions which blew the USSR apart.

As far as economics go, there are still huge numbers of impoverished and hungry in China. The current slowdown is just an economic cycle. No economy will carry on growing indefinitely, especially not at China's recent rates.

There's probably a global economic slowdown coming. It'll bottom out and then growth will increase again, same as always.
 

Optimus Uber

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Oil below $40, hit $37.75 today. Wait for the end of day sell off. Starting to gain speed. Soon margin calls will happen with 15 minutes left in the day. Watch the sell off start about 12:45 PST.
 
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observer

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Might be time for another title change today. It was a good morning out of the gate.
Yupp,

Oil below $40, hit $37.75 today. Wait for the end of day sell off. Starting to gain speed. Soon margin calls will happen with 15 minutes left in the day. Watch the sell off start about 12:45 PST.
Been a roller coaster today.

Prices for oil will probably keep dropping which should help Joe Sixpack and in turn stimulate the local economies as we are able to keep a few more dollars in our pockets to spend here.
 
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