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Post by Nobbygas on Aug 6, 2024 8:28:23 GMT
Yesterday was probably the busiest day on Stock Exchanges across the globe. One platform we run had a record 857 million transactions! If you think this is all to do with Tech companies in the US, you are way way wide of the mark!
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oldie
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Post by oldie on Aug 6, 2024 9:35:11 GMT
Not quite Nobby I am laughing at you. Some weeks ago, when I quoted the growth in "non farms payroll", you asked "what are non farms payroll?" and I had to explain it to you. Now you are quoting the figures with some glee as you try to exploit the numbers because they have not grown at the same level as previously. Not GROWN. But you miss, again, the bigger underlying picture. It appears we may experiencing another bursting of a tech bubble. Investors are now asking, after a couple of years of multi $billion expenditure, when AI will deliver a monetised product. Shares across the tech sector have bombed over the last week. But you carry on copy and pasting what you don't understand. Um...err.....I've worked for a major European Stock Exchange for over 25 years. I think I have some knowledge of what is happening, and it ain't about your claim of AI. Shares have bombed across all sectors. The main fear is that the US is heading for a recession. No, I had no idea what US Non Farms Payroll was, nor I expect, does anyone else on this forum. I am not "quoting with glee" anything, just printing an article that shows the US economy is not booming under Biden as you have claimed. Why are you laughing at me? Is it a nervous laugh as your claims have been proven to be totally wrong? Well If you have worked on a European Stock Exchange for 25 years, I remain surprised you were unaware of a key American economic indicator. As for the stock sell off "Nvidia, Super Micro Computer lead AI trade carnage" www.cnbc.com/2024/08/05/nvidia-super-micro-computer-lead-ai-trade-carnage-with-both-stocks-down-more-than-12percent.htmlHave the Fed made a mistake in not lowering the interest rate earlier? Quite possibly but it's a hard call. Most economists, at this point, are quoting a no more than 25% chance of a recession. But, to be honest, I am not interested in getting into a ding dong with you over this.
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Post by Nobbygas on Aug 6, 2024 10:14:41 GMT
Um...err.....I've worked for a major European Stock Exchange for over 25 years. I think I have some knowledge of what is happening, and it ain't about your claim of AI. Shares have bombed across all sectors. The main fear is that the US is heading for a recession. No, I had no idea what US Non Farms Payroll was, nor I expect, does anyone else on this forum. I am not "quoting with glee" anything, just printing an article that shows the US economy is not booming under Biden as you have claimed. Why are you laughing at me? Is it a nervous laugh as your claims have been proven to be totally wrong? Well If you have worked on a European Stock Exchange for 25 years, I remain surprised you were unaware of a key American economic indicator. As for the stock sell off "Nvidia, Super Micro Computer lead AI trade carnage" www.cnbc.com/2024/08/05/nvidia-super-micro-computer-lead-ai-trade-carnage-with-both-stocks-down-more-than-12percent.htmlHave the Fed made a mistake in not lowering the interest rate earlier? Quite possibly but it's a hard call. Most economists, at this point, are quoting a no more than 25% chance of a recession. But, to be honest, I am not interested in getting into a ding dong with you over this. It's not a ding-dong Oldie. I'm just pointing out that you were wrong to claim the US economy is booming under Biden. Why don't you just admit that you were? By the way, it's carnage across all sector's, not just the Tech one.
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oldie
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Post by oldie on Aug 6, 2024 11:22:45 GMT
You say I was wrong, but as is usual with you, provide no evidence to substantiate your claim. Here is the actuality, as expressed in GDP terms
"Real gross domestic product (GDP) increased at an annual rate of 2.8 percent in the second quarter of 2024, according to the "advance" estimate. In the first quarter, real GDP increased 1.4 percent. The increase in the second quarter primarily reflected increases in consumer spending, inventory investment, and business investment."
Taking jobs added as an indicator of economic expansion
"April Nonfarm payroll employment increased by 175,000 in April 2024, which was lower than the average monthly gain of 242,000 over the previous 12 months. May The US economy added 272,000 jobs in May 2024, which was the most in five months and higher than the average monthly gain of 232,000 over the previous 12 months. June Total nonfarm payroll employment increased by around 206,000 people in the United States in June 2024. July Nonfarm payrolls likely increased by 175,000 jobs in July 2024, according to a Reuters survey of economists. However, CNBC reported that job growth totaled 114,000 in July, which was much less than expected."
Note that the average monthly gain over the year to end March 2024 was 242,000.
And I was wrong to say that the USA economy has not expanded well under Biden. Yes of course😂😂
Pause for breath and then the Fed shaves at least 1/4% of the rate next review.
Come on Nobby, give it up. Next you will be telling us that we were wrong in 2010 and the policies of austerity were a huge success
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Post by Nobbygas on Aug 6, 2024 11:38:54 GMT
You say I was wrong, but as is usual with you, provide no evidence to substantiate your claim. Here is the actuality, as expressed in GDP terms "Real gross domestic product (GDP) increased at an annual rate of 2.8 percent in the second quarter of 2024, according to the "advance" estimate. In the first quarter, real GDP increased 1.4 percent. The increase in the second quarter primarily reflected increases in consumer spending, inventory investment, and business investment." Taking jobs added as an indicator of economic expansion "April Nonfarm payroll employment increased by 175,000 in April 2024, which was lower than the average monthly gain of 242,000 over the previous 12 months. May The US economy added 272,000 jobs in May 2024, which was the most in five months and higher than the average monthly gain of 232,000 over the previous 12 months. June Total nonfarm payroll employment increased by around 206,000 people in the United States in June 2024. July Nonfarm payrolls likely increased by 175,000 jobs in July 2024, according to a Reuters survey of economists. However, CNBC reported that job growth totaled 114,000 in July, which was much less than expected." Note that the average monthly gain over the year to end March 2024 was 242,000. And I was wrong to say that the USA economy has not expanded well under Biden. Yes of course😂😂 Pause for breath and then the Fed shaves at least 1/4% of the rate next review. Come on Nobby, give it up. Next you will be telling us that we were wrong in 2010 and the policies of austerity were a huge success No evidence!!!! You're having a laugh aren't you. Stock markets across the globe fall due to fears of a US recession. Oh no, I haven't provided any evidence have I. I think the global markets are probably more accurate in their assessments than you doing a bit of copy & paste As for austerity, just what are Labour doing right now? Cancelling infrastructure projects, cancelling the building of 40 new hospitals, stopping the Winter Fuel Payments to OAP's to save money etc etc. What are Labour doing right now if it isn't 'austerity'?
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oldie
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Post by oldie on Aug 6, 2024 12:19:02 GMT
You say I was wrong, but as is usual with you, provide no evidence to substantiate your claim. Here is the actuality, as expressed in GDP terms "Real gross domestic product (GDP) increased at an annual rate of 2.8 percent in the second quarter of 2024, according to the "advance" estimate. In the first quarter, real GDP increased 1.4 percent. The increase in the second quarter primarily reflected increases in consumer spending, inventory investment, and business investment." Taking jobs added as an indicator of economic expansion "April Nonfarm payroll employment increased by 175,000 in April 2024, which was lower than the average monthly gain of 242,000 over the previous 12 months. May The US economy added 272,000 jobs in May 2024, which was the most in five months and higher than the average monthly gain of 232,000 over the previous 12 months. June Total nonfarm payroll employment increased by around 206,000 people in the United States in June 2024. July Nonfarm payrolls likely increased by 175,000 jobs in July 2024, according to a Reuters survey of economists. However, CNBC reported that job growth totaled 114,000 in July, which was much less than expected." Note that the average monthly gain over the year to end March 2024 was 242,000. And I was wrong to say that the USA economy has not expanded well under Biden. Yes of course😂😂 Pause for breath and then the Fed shaves at least 1/4% of the rate next review. Come on Nobby, give it up. Next you will be telling us that we were wrong in 2010 and the policies of austerity were a huge success No evidence!!!! You're having a laugh aren't you. Stock markets across the globe fall due to fears of a US recession. Oh no, I haven't provided any evidence have I. I think the global markets are probably more accurate in their assessments than you doing a bit of copy & paste As for austerity, just what are Labour doing right now? Cancelling infrastructure projects, cancelling the building of 40 new hospitals, stopping the Winter Fuel Payments to OAP's to save money etc etc. What are Labour doing right now if it isn't 'austerity'? What happens after a couple of years of over exuberance on the markets? They correct. Tech company stocks in the last couple of years have been silly. Just this last year Amazon has risen by 51% between Aug 23 and June 24. Mostly predicated on AI hysteria
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Post by Nobbygas on Aug 6, 2024 12:23:32 GMT
No evidence!!!! You're having a laugh aren't you. Stock markets across the globe fall due to fears of a US recession. Oh no, I haven't provided any evidence have I. I think the global markets are probably more accurate in their assessments than you doing a bit of copy & paste As for austerity, just what are Labour doing right now? Cancelling infrastructure projects, cancelling the building of 40 new hospitals, stopping the Winter Fuel Payments to OAP's to save money etc etc. What are Labour doing right now if it isn't 'austerity'? What happens after a couple of years of over exuberance on the markets? They correct. Tech company stocks in the last couple of years have been silly. Just this last year Amazon has risen by 51% between Aug 23 and June 24. Mostly predicated on AI hysteria Nvidia were the stocks to hold.
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Cheshiregas
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Post by Cheshiregas on Aug 6, 2024 12:44:04 GMT
You say I was wrong, but as is usual with you, provide no evidence to substantiate your claim. Here is the actuality, as expressed in GDP terms "Real gross domestic product (GDP) increased at an annual rate of 2.8 percent in the second quarter of 2024, according to the "advance" estimate. In the first quarter, real GDP increased 1.4 percent. The increase in the second quarter primarily reflected increases in consumer spending, inventory investment, and business investment." Taking jobs added as an indicator of economic expansion "April Nonfarm payroll employment increased by 175,000 in April 2024, which was lower than the average monthly gain of 242,000 over the previous 12 months. May The US economy added 272,000 jobs in May 2024, which was the most in five months and higher than the average monthly gain of 232,000 over the previous 12 months. June Total nonfarm payroll employment increased by around 206,000 people in the United States in June 2024. July Nonfarm payrolls likely increased by 175,000 jobs in July 2024, according to a Reuters survey of economists. However, CNBC reported that job growth totaled 114,000 in July, which was much less than expected." Note that the average monthly gain over the year to end March 2024 was 242,000. And I was wrong to say that the USA economy has not expanded well under Biden. Yes of course😂😂 Pause for breath and then the Fed shaves at least 1/4% of the rate next review. Come on Nobby, give it up. Next you will be telling us that we were wrong in 2010 and the policies of austerity were a huge success No evidence!!!! You're having a laugh aren't you. Stock markets across the globe fall due to fears of a US recession. Oh no, I haven't provided any evidence have I. I think the global markets are probably more accurate in their assessments than you doing a bit of copy & paste As for austerity, just what are Labour doing right now? Cancelling infrastructure projects, cancelling the building of 40 new hospitals, stopping the Winter Fuel Payments to OAP's to save money etc etc. What are Labour doing right now if it isn't 'austerity'? Out of interest are you saying that Labour should borrow hugely to complete the unfunded projects of the Tory Government? Cancelling 40 hospitals which were written on the back of a packet of Rizlas with no funding projections in place. People attack Labour saying they have no plans. No one shouting about the sh**show left by the Tories. Are people so blind in their support of the Tories and so unwilling to give Labour such little time. You gave the Tories 14 years. I think we can give Labour more than a few weeks. Or are you indeed saying the last 14 years was a huge and momentous success.
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Post by Nobbygas on Aug 6, 2024 13:37:55 GMT
No evidence!!!! You're having a laugh aren't you. Stock markets across the globe fall due to fears of a US recession. Oh no, I haven't provided any evidence have I. I think the global markets are probably more accurate in their assessments than you doing a bit of copy & paste As for austerity, just what are Labour doing right now? Cancelling infrastructure projects, cancelling the building of 40 new hospitals, stopping the Winter Fuel Payments to OAP's to save money etc etc. What are Labour doing right now if it isn't 'austerity'? Out of interest are you saying that Labour should borrow hugely to complete the unfunded projects of the Tory Government? Cancelling 40 hospitals which were written on the back of a packet of Rizlas with no funding projections in place. People attack Labour saying they have no plans. No one shouting about the sh**show left by the Tories. Are people so blind in their support of the Tories and so unwilling to give Labour such little time. You gave the Tories 14 years. I think we can give Labour more than a few weeks. Or are you indeed saying the last 14 years was a huge and momentous success. No, the Tories were a disgrace. I was hoping that they would be wiped out in the election. Successive Labour and Tory governments just provide the same old policies, the same old tribal traits with the same old outcome. Both of the main parties have failed this country and they will continue to do so. Starmer is right about one thing, it's time for Change! I am not saying that Reform are the answer, but there is nobody else in the game. The low turnout at the GE just shows the public have had enough of these failed parties. The two main parties are to blame as they are both incompetent. They have brought about this situation. Why does anyone think that the two parties who have created this mess will ever be able to provide the answers to fix it?
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oldie
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Post by oldie on Aug 6, 2024 14:15:52 GMT
Out of interest are you saying that Labour should borrow hugely to complete the unfunded projects of the Tory Government? Cancelling 40 hospitals which were written on the back of a packet of Rizlas with no funding projections in place. People attack Labour saying they have no plans. No one shouting about the sh**show left by the Tories. Are people so blind in their support of the Tories and so unwilling to give Labour such little time. You gave the Tories 14 years. I think we can give Labour more than a few weeks. Or are you indeed saying the last 14 years was a huge and momentous success. No, the Tories were a disgrace. I was hoping that they would be wiped out in the election. Successive Labour and Tory governments just provide the same old policies, the same old tribal traits with the same old outcome. Both of the main parties have failed this country and they will continue to do so. Starmer is right about one thing, it's time for Change! I am not saying that Reform are the answer, but there is nobody else in the game. The low turnout at the GE just shows the public have had enough of these failed parties. The two main parties are to blame as they are both incompetent. They have brought about this situation. Why does anyone think that the two parties who have created this mess will ever be able to provide the answers to fix it? What choices do we have?
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Cheshiregas
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Post by Cheshiregas on Aug 6, 2024 16:59:54 GMT
Out of interest are you saying that Labour should borrow hugely to complete the unfunded projects of the Tory Government? Cancelling 40 hospitals which were written on the back of a packet of Rizlas with no funding projections in place. People attack Labour saying they have no plans. No one shouting about the sh**show left by the Tories. Are people so blind in their support of the Tories and so unwilling to give Labour such little time. You gave the Tories 14 years. I think we can give Labour more than a few weeks. Or are you indeed saying the last 14 years was a huge and momentous success. No, the Tories were a disgrace. I was hoping that they would be wiped out in the election. Successive Labour and Tory governments just provide the same old policies, the same old tribal traits with the same old outcome. Both of the main parties have failed this country and they will continue to do so. Starmer is right about one thing, it's time for Change!I am not saying that Reform are the answer, but there is nobody else in the game. The low turnout at the GE just shows the public have had enough of these failed parties. The two main parties are to blame as they are both incompetent. They have brought about this situation. Why does anyone think that the two parties who have created this mess will ever be able to provide the answers to fix it? Then why are you so unwilling to wait until Parliament gets back, we see the plans and budgets and then analyse them. Deriding and knocking them after 4/5 weeks really doesn't seem like giving them a chance. How do we know they are going to be the same as previous Governments or as corrupt and under external influence as the previous Government? How do we know they aren't going to change the ways Parliament operates?
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oldie
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Post by oldie on Aug 6, 2024 18:06:16 GMT
No, the Tories were a disgrace. I was hoping that they would be wiped out in the election. Successive Labour and Tory governments just provide the same old policies, the same old tribal traits with the same old outcome. Both of the main parties have failed this country and they will continue to do so. Starmer is right about one thing, it's time for Change!I am not saying that Reform are the answer, but there is nobody else in the game. The low turnout at the GE just shows the public have had enough of these failed parties. The two main parties are to blame as they are both incompetent. They have brought about this situation. Why does anyone think that the two parties who have created this mess will ever be able to provide the answers to fix it? Then why are you so unwilling to wait until Parliament gets back, we see the plans and budgets and then analyse them. Deriding and knocking them after 4/5 weeks really doesn't seem like giving them a chance. How do we know they are going to be the same as previous Governments or as corrupt and under external influence as the previous Government? How do we know they aren't going to change the ways Parliament operates? It's a narrative Cheshire This from a guy that thought austerity was a great idea because we had no choice...then freely admits..despite working on a leading stock exchange...was unaware of a leading USA economic indicator. Sadly the narrative in it's ignorance is relatively uniform across a multitude of topics. Sad really
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Post by baldrick on Aug 6, 2024 18:14:45 GMT
Running mate chosen:
US presidential hopeful Kamala Harris has chosen Minnesota governor Tim Walz as her 2024 vice presidential running mate.
The Democratic Party candidate confirmed earlier reports in a post on X, saying: "I am proud to announce that I've asked @tim_Walz to be my running mate.
"As a governor, a coach, a teacher, and a veteran, he's delivered for working families like his.
"It's great to have him on the team."
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oldie
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Post by oldie on Aug 6, 2024 18:40:03 GMT
Running mate chosen: US presidential hopeful Kamala Harris has chosen Minnesota governor Tim Walz as her 2024 vice presidential running mate. The Democratic Party candidate confirmed earlier reports in a post on X, saying: "I am proud to announce that I've asked @tim_Walz to be my running mate. "As a governor, a coach, a teacher, and a veteran, he's delivered for working families like his. "It's great to have him on the team." Will be a great match up against Trump's loony choice of Vance
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Post by baldrick on Aug 6, 2024 19:13:19 GMT
Running mate chosen: US presidential hopeful Kamala Harris has chosen Minnesota governor Tim Walz as her 2024 vice presidential running mate. The Democratic Party candidate confirmed earlier reports in a post on X, saying: "I am proud to announce that I've asked @tim_Walz to be my running mate. "As a governor, a coach, a teacher, and a veteran, he's delivered for working families like his. "It's great to have him on the team." Will be a great match up against Trump's loony choice of Vance Did I read that Trump has agreed to debate head to head?
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oldie
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Post by oldie on Aug 6, 2024 19:20:36 GMT
Will be a great match up against Trump's loony choice of Vance Did I read that Trump has agreed to debate head to head? He ran scared of the ABC network debate but wants a debate adjudicated by FOX!!! A joke
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aghast
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Post by aghast on Aug 6, 2024 20:38:13 GMT
Did I read that Trump has agreed to debate head to head? He ran scared of the ABC network debate but wants a debate adjudicated by FOX!!! A joke That should be impartial then.
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bluetornados
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Post by bluetornados on Aug 6, 2024 20:59:07 GMT
Kamala Harris to make first appearance with new running mate Tim Walz..by Emily McGarvey and Caitlin Wilson.ichef.bbci.co.uk/ace/standard/1024/cpsprodpb/0963/live/3effc590-53f4-11ef-b2d2-cdb23d5d7c5b.jpgKamala Harris has picked Tim Walz as her running mate for the presidential election The Minnesota Governor and former high school teacher will become vice-president if Harris beats Donald Trump in November Walz gained national attention for his strategy of calling Trump and JD Vance "weird", a phrase Harris has adopted when talking about her rival The Harris campaign will be hoping Walz's plainspoken and small-town Midwestern demeanour could appeal to independent and conservative voters JD Vance, Donald Trump's running mate, has called Walz a "far-left radical" and said he would debate his opponent when he is "officially the nominee" Harris will introduce Walz as her running mate at a rally in Philadelphia shortly, then they will tour key battleground states
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bluetornados
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Post by bluetornados on Aug 6, 2024 21:03:35 GMT
Elon Musk to interview Donald Trump..by Anthony Zurcher and Nomia Iqbal in Philadelphia.i.dailymail.co.uk/1s/2024/08/05/23/88168809-13712183-image-a-125_1722897904267.jpgWe're 91 days out from the presidential election and the media coverage has understandably all been about Kamala Harris picking Tim Walz as her running mate. But there's also news coming from Donald Trump, who just shared on Truth Social that he will be doing an interview on Monday night with the richest man in the world, Elon Musk. Musk recently endorsed Trump and has started getting involved in fundraising efforts for the Republican nominee. Details of when and where the interview will be held have not been confirmed. But it's possible it would be on X, Musk's social media platform. It wouldn't be the first time Trump has been interviewed on X. An interview with Tucker Carlson was livestreamed on the platform at the same time as the first Republican debate last year, which Trump skipped.
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oldie
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Post by oldie on Aug 6, 2024 21:43:25 GMT
Vt=PT/M
Where Vt= velocity of money for all transactions in a given time frame
Where P = price level Where T = aggregate real value of transactions in a given time frame Where M = total nominal amount of money in circulation on average in the economy
In this example Musk = over hyped business/fragile ego Trump = Thick as Whale Sperm/fascist tendency
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