Investing General Discussion
- Thread starter Furious
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Shonuff
Mr. Poopybutthole
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More supply. At these prices, even the ones that drill inefficiently can make good money. And if OPEC lets prices get too high, it causes recession and slows down overall demand for petro. Biden has stealth been pushing for oil production.
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Shonuff
Mr. Poopybutthole
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Interesting read. Finally Biden is starting to understand the issues. He at least has a start on the plan to open the ports 24/7, but what about the worker shortage?
www.economist.com
The world economy’s shortage problem
Scarcity has replaced gluts as the biggest impediment to global growth
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Shonuff
Mr. Poopybutthole
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Nice leisurely day trading the QQQs. My swing trades aren't doing so well because of oil and gas. Until those prices come down, I'm bagholding. Market cares more about gas and oil prices than it does the fact that covid has dropped off the face of the planet. A hit to profit is a hit to profit, I guess.
Next time, I'll have to stop out my swings, something I never do. I only stop out my day trades.
Next time, I'll have to stop out my swings, something I never do. I only stop out my day trades.
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Mist
Eeyore Enthusiast
- 30,551
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They don't care about your deposits. That's why you get so little interest for them. The amount of money that retail customers have in their bank deposits is not even worth thinking about for today's banks. A bank run would do nothing.
The government prints money, gives it to banks, and the banks loan it back to the government at interest.
TJT
Mr. Poopybutthole
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Mist
Eeyore Enthusiast
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No, not across the board.
We're probably looking at 6% inflation in 2021 across the board, which is bad if it was sustained, but considering we had outrageously low inflation from 2008-2020, it is ultimately nothing. And I say this as someone who has a lot of deposits in fiat who gets hurt by this the most. I still have over 200,000 in cash just sitting in the bank or money market accounts.
We're still nowhere near the 1970s level of inflation, or the inflation spike in 1990 that occurred during a recession. We're not in a recession, we're just in supply shock.
The lack of supply of critical tech components is a huge issue that needs to be addressed however. The fact that the most important producer is a politically contested island in SE Asia makes it a major national security crisis. The price of gas still being lower than it was during the Bush administration is not actually a crisis.
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Kirun
Buzzfeed Editor
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Big Phoenix
Pronouns: zie/zhem/zer
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So you actually believe the bullshit Biden admin is putting out? Inflation is significantly more than 6% and thats not even taking into account "shrinkage".
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Mist
Eeyore Enthusiast
- 30,551
- 22,535
Kirun
Buzzfeed Editor
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Mist
Eeyore Enthusiast
- 30,551
- 22,535
In my defense it used to be a 3% interest high yield account. Now it's like .40%.
Hateyou
Not Great, Not Terrible
- 16,402
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So I know you used to be scared of investing or didn’t know how or whatever because I remember pushing you to do it a couple years ago. But you know how to do it now, why do you still have this much in cash doing nothing?
And saying it used to be 3% is a terrible defense. Even if it was still 3%....
Borzak
Bronze Baron of the Realm
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Gas Shortage Prompts Power Plants to Switch to Oil, Boosting Demand
Soaring natural-gas and coal prices are pressuring power-generation companies and manufacturers to switch to using oil, a trend that could add half a million barrels a day to global demand, the IEA said.
www.wsj.com
Blazin
Creative Title
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We have all been watching mist for almost 80% move on the S&P dance around when it might be time to buy. He'll eventually get around to it, at the market top.
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Fogel
Mr. Poopybutthole
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Mist
Eeyore Enthusiast
- 30,551
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I did put 70k in when the market was near bottom during COVID, and got ~55% returns on it so far. Then I've been swing trading ETHE with another 100k. I bought another 30k with of EFTs recently too. Been maxing my 401K, Roth and HSA contributions for a few years too.
The 230k is for a very large addition on my house, basically tripling the size of my house, but I need a bunch of septic work done first and the project has gotten very complicated with a shortage of contractors.
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Blazin
Creative Title
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Then I wouldn't worry about it, if the money has a short term need it probably shouldn't be exposed to market risk. It sucks that we are in a yield environment where it's very difficult to make low risk yield, but it is what it is.