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In reply to the discussion: Fed raises rates by another three-quarters of a percentage point, pledges more hikes [View all]progree
(10,901 posts)47. Ughh, I forgot, the S&P 500 is back in bear market territory, down 21.0% from its all-time-high
Last edited Wed Sep 21, 2022, 08:06 PM - Edit history (1)
of January 3 (bear markets begin at 20% down).
Technically we've been in a bear market since we first reached that milestone (3838) in June and won't be out of it until we reach a new all time high.
But we've haven't closed below 3838 since July 18. Until today.
S&P 500 All time high: January 3: 4797.
20% below that is 3838 "Munich Munich"
(easy to remember, "Munich Munich" since 1938 was the year of the Munich agreement with Hitler and Peace For Our Time)
Today's close (Wednesday Sept 21): 3790
Peace For Our Time
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Fed raises rates by another three-quarters of a percentage point, pledges more hikes [View all]
BumRushDaShow
Sep 2022
OP
Interest rates are an opportunity cost. Companies are more likely to produce now than for the future
mathematic
Sep 2022
#19
Our trade deficit hangs out around 3% of GDP, so yeah, we produce plenty here
mathematic
Sep 2022
#64
Monetarists claim that by doing so, you slow the economy, demand - and thereby prices
peppertree
Sep 2022
#9
Here's a good article explaining the impact to main street local economies
IronLionZion
Sep 2022
#63
Powell's Fed was 9 months late to end the party, this would have been easier a year ago
bucolic_frolic
Sep 2022
#8
I bought stocks on sale back in mid-June after the S&P 500 entered a bear market (more than 20% down
progree
Sep 2022
#30
My fear is that the FED will cause another recession, which they've often done.
Lonestarblue
Sep 2022
#32
So the poor can't buy homes or cars. Yeah that's going to solve the problem. NOT
onecaliberal
Sep 2022
#35
S&P 500 closed down 1.71%, the DOW down 1.70% (522 points) -- just to set the scene for
progree
Sep 2022
#41
Yeah, the Fed has pretty much thrown in the towel on the so-called soft-landing, buckle up peoples
Shanti Shanti Shanti
Sep 2022
#42
We should be happy it won't take the extreme rate increases that Paul Volcker implemented 1979-83
andym
Sep 2022
#46
Ughh, I forgot, the S&P 500 is back in bear market territory, down 21.0% from its all-time-high
progree
Sep 2022
#47
a few weeks ago i started reading my 1989 grieder book about the fed reserve. secrets of the
pansypoo53219
Sep 2022
#51