The Biden Presidency 2023

Quote: odiousgambit

I'm predicting a correction in October, be ready to act. If we get a correction before Oct., I think there will be a bigger one in Oct

Only eight Big Tech and 36 smaller companies have fueled the gains in the S&P this year. The remaining 456 are down as a group.

A correction is a drop of 10% or more. How do you see a correction coming?

Quote: Tanko

Only eight Big Tech and 36 smaller companies have fueled the gains in the S&P this year. The remaining 456 are down as a group.

A correction is a drop of 10% or more. How do you see a correction coming?

I think the market is overheating

strictly a gut feeling, so I'm not taking any even money bets on it happening. However, I'm making sure I have the ability to run a course of dollar-cost-averaging type buying ... a bet of sorts

The fact that you righties can still only make wild predictions about how bad Biden’s economy *is going* to be after 2.5 years says a lot.

The DOW may bet at 35K today, but the purchasing power of the dollar has fallen 20% since Biden became president.. In real terms, the DOW is where it was in mid-October 2020. Around 27,000.

Good point.


GDP increase has to keep up with the currency dilution (fiat).

Otherwise, it can be an illusion of wealth, and buying power usually moves down, other than the 1%.


They diluted the currency about 30% in an 18 month period during Covid.

Likely more than that.



Powell is an attorney not a banker.

He has no idea what he's doing.

About 7 firms are making good money.

They're close to being monopolies.

They need to break them up or we'll have 7 firms worth over $10T and the rest will likely move down.

Quote: DoubleGold

Powell is an attorney not a banker.

He has no idea what he's doing.

Powell did serve as an attorney, but he is also an investment banker. He's been serving in the banking industry since 1984.

So far, by gradual small interest rate hikes and weekly multi-billion dollar decreases in the Fed balance sheet, he has halved inflation and managed a soft landing with no recession.

He knows what he is doing.

Quote: Tanko

Powell did serve as an attorney, but he is also an investment banker. He's been serving in the banking industry since 1984.

So far, by gradual small interest rate hikes and weekly multi-billion dollar decreases in the Fed balance sheet, he has halved inflation and managed a soft landing with no recession.

He knows what he is doing.

I think he's a rookie that doesn't know much.

Quote: DoubleGold

I think he's a rookie that doesn't know much.

He's been in banking forty years.

If Paul Volcker was Fed Chairman, the fed funds rate would be 10.5% and unemployment would be 7.5%.

Quote: Tanko

He's been in banking forty years.

If Paul Volcker was Fed Chairman, the fed funds rate would be 10.5% and unemployment would be 7.5%.

His experience is legal not financial.

He's a newbie making mistakes regularly.