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Stock Market Crash! (merged) Pt. 9

Discussions about the economic and financial ramifications of PEAK OIL

Re: Stock Market Crash! (merged) Pt. 9

Unread postby Outcast_Searcher » Mon 12 Aug 2019, 00:04:37

Armageddon wrote:
Outcast_Searcher wrote:
Armageddon wrote:The 3 stooges know the economy is crashing so the market is all they have to cling to. They love diverting the attention away from the real crises.

With GDP rising, only an "expert" like you would claim the economy is "crashing".

But of course, your history of accurate calls makes you so accurate -- in your own mind. :roll:


GDP is rising? Really?

Can you read? When I look at credible sources, they indicate US and global GDP are rising, and are forecast to rise.

Falling only in your own mind doesn't mean GDP is falling. You calling everything a crash doesn't make everything crash. :roll:

You do REALIZE that you claiming the GDP WILL fall is different than credible stats showing it has fallen, right? You do REALIZE that all your bad calls doesn't make your claims re economic predictions exactly reliable, right? You do REALIZE that citing some tinfoil hat doomer blog that makes empty claims without credible data doesn't make their empty claims true, right?

Sheesh.
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby Armageddon » Mon 12 Aug 2019, 00:59:25

Q1 GDP 3.1%
Q2 GDP 2.1%

GDP is growing LOL
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby marmico » Mon 12 Aug 2019, 02:49:52

GDP is rising? Really?


ROTFLMFAO at Bozo Bedford-type idiocy.

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Re: Stock Market Crash! (merged) Pt. 9

Unread postby Armageddon » Mon 12 Aug 2019, 06:57:44

Q1 GDP - 3.1%
Q2 GDP - 2.1%


It took record gov’t debt, consumer debt and credit card debt to get 2.1% GDP. LOL, and gullible fools want to say we are growing? You can’t make this stuff up.

That’s like having a 500K mortgage, 2 auto loans, maxing out CC’s and calling yourself wealthy.
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby shortonoil » Mon 12 Aug 2019, 08:01:04

Q1 GDP - 3.1%
Q2 GDP - 2.1%


What an amazing rate of growth; and it only took $20.9 trillion in additional world debt to do it. Is that what is called winning, winning? Do we declare the riches after, or before the bankruptcy?

The oil age is ending, and the world is going completely, unequivocally bust. Last one out; hit the light switch.
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby asg70 » Mon 12 Aug 2019, 08:05:09

Armageddon wrote:The 3 stooges know the economy is crashing so the market is all they have to cling to. They love diverting the attention away from the real crises.


Look, if you only started a separate thread we could separate the market from the rest of the economy and there would be one less thing to argue about. You are the one who chose to be a stubborn SOB for squatting in this thread and trying to veer it off its topic.

BTW, I'd have to go back but as I recall, you first appeared here when the stock market fell. That was the original impetus for this dog and pony show of yours. It was only after the market quickly clawed itself back that you tried to keep the sense of dread going by any means necessary.
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby Yoshua » Mon 12 Aug 2019, 08:55:45

Sanchez Energy files for chapter 11 bankruptcy

https://www.houstonchronicle.com/busine ... ssion=true
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby shortonoil » Mon 12 Aug 2019, 09:54:27

Sanchez Energy files for chapter 11 bankruptcy

https://www.houstonchronicle.com/busine ... ssion=true


The great slow down continues from Beijing to Berlin. If the economy follows energy it will continue to spiral downward for the next decade, until it comes to a stop. Chances are that is not going to happen. The debt is so huge, and the monetary/ financial system is so intertwined, and fragile that contagion anywhere can start a process of deleveraging that would cascade into an avalanche of defaults.

Sanchez Energy's largest creditor is Delaware Trust Company. Delaware is owned by Sun Trust Bank. Sun Trust is a Cayman corporation that controls hundreds of subsidiaries. What an intricate web we have spun ourselves into!
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby marmico » Mon 12 Aug 2019, 11:59:22

Sanchez Energy files for chapter 11 bankruptcy


Ain't capitalism wunnerful.

US oil frackers (producers) are in debt $300 billion and have saved oil consumers $6 trillion* in the last 5 years.

*30 gigabarrels per year x 5 years x $40/barrel.
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby rockdoc123 » Mon 12 Aug 2019, 12:14:14

Sanchez Energy files for chapter 11 bankruptcy


It would be helpful if you doomers actually tried to understand what Chapter 11 filing is all about. As Rockman took the time to explain it in some detail a year ago here I won't bother but suffice it to say the result is a stronger company and creditors that get paid....not the doom and gloom you would like it to mean.

This is pointed out in the press release from Sanchez

Undergoing a financial restructuring through a voluntary process represents the next phase for Sanchez Energy, as we work with our creditors on a plan to right-size our balance sheet, further invest in our assets and generate long-term value for our stakeholders."


Basically in the end a payment schedule is put in place and the worst that the creditors will see is a slight downward revision on interest rates and an extended payment period for principle.

So sorry, no world is ending tomorrow because an oil company declared Chapter 11. :roll:
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby Outcast_Searcher » Mon 12 Aug 2019, 12:43:06

Armageddon wrote:Q1 GDP 3.1%
Q2 GDP 2.1%

GDP is growing LOL

Really. So in your mind, a slower rate of growth means not growing? Yeah, that's being clued into economics and arithmetic at the level of the typical fast crash doomer. Congrats. :roll:

Hint: you're on the internet. You can look terms like growth up.
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby asg70 » Mon 12 Aug 2019, 13:10:23

Outcast_Searcher wrote:So in your mind, a slower rate of growth means not growing?


Armageddon is nothing if not hyperbolic.
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby Armageddon » Mon 12 Aug 2019, 13:49:10

Morgan Stanley predicting a zero FFR. Clear sign that a major bank understands the current economic free-fall.
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby Yoshua » Mon 12 Aug 2019, 14:09:14

The world won't collapse tomorrow. Neither will Argentina, although the peso, the bonds and the stock market are down some minus 30 percent today.

Democracy has turned into the most dangerous political system now. The masses are voting for prosperity in Argentina, Venezuela... thinking that a vote will save them from poverty and death.
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby shortonoil » Mon 12 Aug 2019, 14:26:54

Stocks Are Crashing As Long-Bond Yields Near Record Lows
https://www.zerohedge.com/news/2019-08- ... ecord-lows

The old proverbial horse puky is hitting the fan.

Once this starts down there is $323 trillion in debt to push it into the abyss. By the time the S&P has stopped falling China is going to look like a stomped on toad, and they will be stacking bodies on Wall Street. This one is going to have to be measured on the Richter Scale.
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby Armageddon » Mon 12 Aug 2019, 14:47:24

Is this what’s really going on out there?

From another message board:


How has the economy not collapsed yet...?
Almost everyone in my social circle (quite large) is stressed, depressed, in debt, and barely hanging on.

The cost of living has just spiraled out of control the last 10 years...

I had 2 separate phone conversations in the last 7 days, with 2 different on the verge of killing themselves. I did my best to talk them down and help them see the good in life, but no words give the abysmal financial situation they are both in.

And mine is no better. I've been working 6-7 days a week since March pushing 50-80 hours a week( I take any overtime available) and I'm struggling also...

Life in America is just unaffordable. I know people like to whine that Americand spend their money on stupid shit like coffee and phones, and while that is part of the problem, it is almost 10% of the issue.

Everyone is up in arms about Epstein but all the people I talk to are more concerned with surviving financially.

I dont understand 1) how the economy hasn't collapsed yet

And 2) why no one is rebelling against the most corrupt financial system in the history of the world.

No wonder there are so many unhinged violent people.

Life is simply unaffordable anymore...
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby rockdoc123 » Mon 12 Aug 2019, 16:19:18

Is this what’s really going on out there?

From another message board:


I suppose the first question would be why you didn't bother to tell anyone the source of that discussion. Probably because it comes from a site called Godlike Productions (google search got me there) which is the well-known go-to spot for whackos and serious nutjobs. The disclaimer on the website is DON'T BELIEVE A DAMN WORD YOU READ ON THIS WEBSITE. Apparently, you didn't read that. :roll:

meanwhile back in the real world:

US personal disposable income - a continuous increase

Image

US unemployment - very low to record low rates

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US individual personal savings rates - not as good as back several decades ago but a steady increase since 2004

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Re: Stock Market Crash! (merged) Pt. 9

Unread postby Armageddon » Mon 12 Aug 2019, 17:24:24

Q3 GDP Forecasts: 1.6% to 1.9%



Q1-3.1
Q2-2.1
Q3-1.8


We are booming!!!!!
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby rockdoc123 » Mon 12 Aug 2019, 17:50:03

Q1-3.1
Q2-2.1
Q3-1.8


We are booming!!!!!


so says the numpty who predicted first that Q1 GDP would be negative, then when that didn't work out Q2 would definitely be negative. So far zero for 2.

The average of growth rate in GDP (oh by the way growth means it is greater than zero...i.e. GDP is increasing) if the Q3 number were correct would make it 2.33 average for 2019 compared to the average GDP growth rate since 2010 (after the recession and first year of recovery) of 2.77. OH MY GOD THAT IS A DISASTER!! QUICK GET YOUR GUNS, DIG YOUR BOMB SHELTERS...THEY SKY IS FALLING THE SKY IS FALLING. :roll:
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Re: Stock Market Crash! (merged) Pt. 9

Unread postby Armageddon » Mon 12 Aug 2019, 17:52:31

rockdoc123 wrote:
Q1-3.1
Q2-2.1
Q3-1.8


We are booming!!!!!


so says the numpty who predicted first that Q1 GDP would be negative, then when that didn't work out Q2 would definitely be negative. So far zero for 2.

The average of growth rate in GDP (oh by the way growth means it is greater than zero...i.e. GDP is increasing) if the Q3 number were correct would make it 2.33 average for 2019 compared to the average GDP growth rate since 2010 (after the recession and first year of recovery) of 2.77. OH MY GOD THAT IS A DISASTER!! QUICK GET YOUR GUNS, DIG YOUR BOMB SHELTERS...THEY SKY IS FALLING THE SKY IS FALLING. :roll:




Says the guy who doesn’t understand debt or GDP
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