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Stock Market Crash! (merged) Pt. 7

Discussions about the economic and financial ramifications of PEAK OIL

Re: Stock Market Crash! (merged) Pt. 7

Unread postby Armageddon » Wed 26 Jun 2019, 07:44:57

US Durable Goods Orders Plunge Most In 3 Years


With manufacturing signals across the globe collapsing, expectations were for a modest drop in US Durable Goods Orders in May, however, the 1.3% MoM drop was far larger than expected and not helped by a notable downward revision in April.

Worst still, on a YoY basis, durable goods orders plunged 3.3% - the most since July 2016's post-Brexit panic.


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Re: Stock Market Crash! (merged) Pt. 7

Unread postby marmico » Wed 26 Jun 2019, 08:32:37

May 2019 core durable goods orders up 0.4% month on month.

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Re: Stock Market Crash! (merged) Pt. 7

Unread postby shortonoil » Wed 26 Jun 2019, 08:56:29

Below zero is now up?

IGNORANCE is STRENGTH

How nice an Orwellian!
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Re: Stock Market Crash! (merged) Pt. 7

Unread postby shortonoil » Wed 26 Jun 2019, 09:15:06

Was about to go do something constructive, when this hit! The big market rally this morning was CNBC doing its usual pump monkey routine. hilarous. News you can't trust under any conditions.

The problem: CNBC made a huge grammatical mistake, because instead of saying "is", Mnuchin was actually using the past tense, and what he really said - for those who listened to the video - is that "we were about 90% of the way’ on China trade deal.
Oops


https://www.zerohedge.com/news/2019-06- ... al-mistake

Of course Trump and Xi had better work out something, anything, or they will both have to bone up on their resume skills. This sucker is going down the tubes, and soon.
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Re: Stock Market Crash! (merged) Pt. 7

Unread postby AdamB » Wed 26 Jun 2019, 09:58:53

shortonoil wrote:Below zero is now up?

IGNORANCE is STRENGTH

How nice an Orwellian!


Just out of curiosity, has your uni-directional market "understanding" made you money by shorting it? Because by jumping in at the bottom back when you were proclaiming the end of the world last time, my pension fund is quite well stocked doing the opposite.
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Re: Stock Market Crash! (merged) Pt. 7

Unread postby asg70 » Wed 26 Jun 2019, 14:30:21

shortonoil wrote:The big market rally this morning was CNBC doing its usual pump monkey routine.


Not like doomers would ever accept any upwards market trend as genuine.

And seriously, if you are in love with Zerohedge this much why do you even hang out here? Just stay over there and drown yourself in 24/7 doomerade.

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Re: Stock Market Crash! (merged) Pt. 7

Unread postby shortonoil » Wed 26 Jun 2019, 14:50:07

No matter how much this has to do with the trade war, and we think much less than most suppose, this is how much world trade has declined. Almost to the point of the GR of '09, but no bottom in sight? In '09 at least it took a bounce, or two on the way down. This looks more like a 179 foot leader fall on a 180 foot rope. It doesn't matter if the rope is still attached or not.

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http://www.thehillsgroup.org/

No, I have stayed in the extractive resource industry. Royalties come with depletion allowances, and capital gains benefits. Stocks are for chumps, and multi-national corporations.
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Re: Stock Market Crash! (merged) Pt. 7

Unread postby shortonoil » Wed 26 Jun 2019, 14:57:25

ATTN: SHORT LOST A BET


Can't pay you - (as we should have expected) you sleeze balls have been cheating! The EIA has been cooking its books.

viewtopic.php?p=1421512#p1421512
https://pbs.twimg.com/media/D9dMsQ2WsAA ... me=900x900

Well why not? Maybe they got some on the job training from the BLS. They do it every month!

Got to keep those prices up: The Saudis have to pay for their 28 million, live in, welfare recipients. The real market price of oil won't cover it.

Between Venezuela, and Iran the US has already taken over 5 mb/d off line, and still the price has not gone up. To protect its own producers, and its preferred suppliers the US will have to continue removing supplies by any means available to it.

The approaching end of the oil age will be indicative of a declining economy that can no longer utilize all the oil being produced. If those 5mb/d had not been removed inventories would now be more than doubled, and the price of oil would be about $10 a barrel. More production will have to be taken out in the coming year to support prices. Have you got any suggestions on where that might come from? More war stories will help, and the US will not invade anyone just like it didn't invade North Korea, Venezuela, or Iran. Just because you bunch of laser brains are idiots doesn't mean everyone is.

https://uk.reuters.com/article/uk-globa ... KKCN1TP02G
http://data.worldbank.org/indicator/NY.GDP.MKTP.CD
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Re: Stock Market Crash! (merged) Pt. 7

Unread postby Armageddon » Wed 26 Jun 2019, 15:41:02

The only debate on the July 31st FED meeting is if it’s going to be a 1/4 pt or a 1/2 pt rate cut.
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Re: Stock Market Crash! (merged) Pt. 7

Unread postby AdamB » Wed 26 Jun 2019, 16:01:17

shortonoil wrote:No, I have stayed in the extractive resource industry.


And along the way I became a scientist. So what. We both were allowed to take advantage of the rebound coming out of 2009. You were/are allowed to short anything you might like to make a killing. Did you, or is the courage of your convictions..you know...zip?

shortonoil wrote: Royalties come with depletion allowances, and capital gains benefits. Stocks are for chumps, and multi-national corporations.


Tell it to my 401k balance.
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Re: Stock Market Crash! (merged) Pt. 7

Unread postby AdamB » Wed 26 Jun 2019, 16:03:32

shortonoil wrote:
ATTN: SHORT LOST A BET


Can't pay you - (as we should have expected) you sleeze balls have been cheating!


If you wanted different terms to the bet, you should have made them at the time.

Now that you've lost, when are you going to pay up?
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Re: Stock Market Crash! (merged) Pt. 7

Unread postby asg70 » Wed 26 Jun 2019, 17:23:03

Short is just starting to repeat himself like a bot. Boy is it boring. I'm pretty close to finally throwing him in my ignore filter and not looking back.
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Re: Stock Market Crash! (merged) Pt. 7

Unread postby Armageddon » Wed 26 Jun 2019, 19:21:05

FEDEX The delivery company reported a quarterly loss of nearly $2 billion blames global economic slowdown
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Re: Stock Market Crash! (merged) Pt. 7

Unread postby rockdoc123 » Wed 26 Jun 2019, 19:58:35

FEDEX The delivery company reported a quarterly loss of nearly $2 billion blames global economic slowdown


either you didn't bother to actually read their press release or you are purposefully adjusting the results to fit your doomer position. In fact they did not say that at all.

The delivery company reported a quarterly loss of nearly $2 billion. After adjusting for a change in pension-plan accounting and other items that the company doesn’t expect will repeat, however, the results were better than Wall Street expected.


FedEx also finds itself in the middle of a trade dispute between the U.S. and China. On Monday, the company sued the Commerce Department, seeking to stop it from enforcing export rules that restrict shipments to Chinese telecommunications equipment maker Huawei Technologies.


Excluding what the company considered special items, FedEx said adjusted profit was $5.01 per share. While down from $5.91 a year earlier, the results beat expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for $4.81 per share.


Revenue rose 3% to $17.81 billion, which met the analysts’ forecasts.


FedEx Ground ran into rising costs as it shifted to a year-round schedule of six days a week. The company plans to go seven days a week starting next January. The unit’s income was flat despite 11% higher revenue.

For the year, FedEx, which is based in Memphis, Tennessee, reported profit of $540 million on revenue of $69.69 billion.


so one offs that won't repeat and a change in the way they do business resulted in higher costs that offset higher revenues (for those math challenged if it was all to do with less business due to a slowing economy revenues would be down, not up).
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Re: Stock Market Crash! (merged) Pt. 7

Unread postby Armageddon » Wed 26 Jun 2019, 20:18:11

FedEx posted weak quarterly results in its core express business and warned Tuesday that its profit in the year ahead will be crimped by slowing growth in the world economy and its decision to drop a contract with retail giant Amazon.

https://www.cbsnews.com/news/fedex-earn ... lion-loss/
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Re: Stock Market Crash! (merged) Pt. 7

Unread postby rockdoc123 » Wed 26 Jun 2019, 20:35:30

read the damned article this is from the one you posted which comes directly from the press release

The delivery company reported a quarterly loss of nearly $2 billion. However, excluding an accounting charge for retirement plans and other items that the company doesn't expect will repeat, the results were better than Wall Street expected.


so it isn't the disaster you wanted everyone to believe. Sorry about that :roll:
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Re: Stock Market Crash! (merged) Pt. 7

Unread postby Armageddon » Wed 26 Jun 2019, 21:16:58

FedEx warned Tuesday that its profit in the year ahead will be crimped by slowing growth in the world economy

Seems about right to me
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Re: Stock Market Crash! (merged) Pt. 7

Unread postby rockdoc123 » Wed 26 Jun 2019, 22:22:14

Here is precisely what you said:

FEDEX The delivery company reported a quarterly loss of nearly $2 billion blames global economic slowdow


you are suggesting economic slowdown was the cause in the past quarter not next year (which you are now trying to claim).

And the press release from FEDEX states (as I pointed out) that this is all due to one time events . It is clear what your intention was here...mislead.

As to next year that is a forecast and the only thing they know for sure is that they no longer have a deal with Amazon.
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Re: Stock Market Crash! (merged) Pt. 7

Unread postby Armageddon » Wed 26 Jun 2019, 22:35:44

FedEx shares plunge 10% as company cuts forecast, warning of economic slowdown
PUBLISHED WED, DEC 19 2018 9:24 AM ESTUPDATED WED, DEC 19 2018 11:35 AM EST


Thats what they said in December, so let’s not act like the economy isnt slowing.
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Re: Stock Market Crash! (merged) Pt. 7

Unread postby AdamB » Wed 26 Jun 2019, 23:56:42

Armageddon wrote:FedEx shares plunge 10% as company cuts forecast, warning of economic slowdown
PUBLISHED WED, DEC 19 2018 9:24 AM ESTUPDATED WED, DEC 19 2018 11:35 AM EST


Thats what they said in December, so let’s not act like the economy isnt slowing.


What's wrong with a slowing economy? It has happened before, it will happen again. The amazing thing here is that the US hasn't had a recession in like a decade. But that somehow doesn't get mentioned? And it manages to maintain growth, even if the economy does slow down.

For example, using the included chart, the US economy slowed down 3 quarters in a row back in 2012. No recession, let alone the doom some are pretending happens just because the economy slows. slowed down once in 2013. No recession, certainly no doom. Did it again, first quarter 2014. Did it for 2 quarters late in 2014. 2 quarters in late 2015. 3 quarters in a row, 2016/17. 3 quarters in a row late 2017 into 2018.

See the pattern? The economy slows down just fine without it being an excuse to breathlessly pretend it equates with recession, let alone doom. More investigation of charts before making meaningless points for everyone!

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