Posted on Aug 22, 2022
Dow slumps 600 points Monday to wrap worst day since June as summer rally fades
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I'm not a Financial Advisor, and only invest funds that you have to lose, that wouldn't impact you or your families' lives. That being said - The Dow took a beating today, starting off with the news about the $1.7 billion dollar verdict against Ford for a rollover crash in one of their heavy-duty pickups in 2014. And carried on it's downward trend with continued inflation & extended recession fears by the market. Not sure what tomorrow will bring, but more volatility will likely be seen in the market in the weeks & months to come.
Dow slumps 600 points Monday to wrap worst day since June as summer rally fades
Posted from cnbc.com
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Edited >1 y ago
Posted >1 y ago
Responses: 3
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Ford may have gone down 5% today and only went down 4 cents in after hours trade but I bought some stock from Ford a month before I'm what to go and it was selling for $11. I don't think it's too much to worry about. Ford just raised their dividend so there'll be more investors coming in to buy the good deals.
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Ford & all the other car companies are going all in on Elective Vehicle (EV) Technology. The public isn't demanding more EVs & less Internal Combustion Engine (ICE) vehicles, hardly. There's not a grid and electric system to support a complete conversion to EVs in the next 30 years. But they'll continue to try and push EVs - the fact is that EVs charge themselves largely on "Carbon-based" Energy, i.e. coal, natural gas, fuel oil, etc. Even now with adding wind & solar capacity, renewables make up 20% of electricity produced in the US. And the dreaded "Carbon-based" energy makes up 80% of electric supply.
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Electricity in the U.S. - U.S. Energy Information Administration (EIA)
Energy Information Administration - EIA - Official Energy Statistics from the U.S. Government
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LTC (Join to see) Ford and Toyota will still sell hybrids but Dodge looks like it will go all electric ( A really dumb idea especially if you have a long blackouts) these EVs have a 7 year warranty on the battery. They will not hold much value if it costs $10k for a replacement battery.
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I forgot to mention in my 1st post that the inflation reduction act is a false term. Most of the money or have the money goes to IRS agents and to the church of the green new deal to subsidize very inefficient solar panels and analyctric cars. It doesn't reduce inflation at all and actually adds 2 inflation by adding taxes to businesses during a recession. president Biden and the science of stupid. Just like with the covid relief bill, look at the slide I included from last year showing that 9% was toward covid and 91% was to special projects to pay off Democrat donors.
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It's a bunch of factors involved including All the latest pork passed by the democrats in the last 2 weeks. The inflation reduction act is gonna raise inflation. The inflation reduction act was supposed to reduce inflation after 5 years but they just approved over 300 billion dollars to subsidize computer chip makers and now present Biden's being an idiot and hes talking about waving 1.5 trillion dollars in student debt. That's just going to make things even worse. Also the fed is meeting in Jackson Hole and they're talking about raising interest rates by 3/4 of A percentage point. Last week, some Financial guest speakers on Fox business were saying that we are in a bear market bounce add to take some profits of your most profitable stocks. Not. Not all of them, but some of them. I did just that I'm glad I did. They are predicting a bigger slowdown in the next few weeks.. Right now investors are worried you're worried and that's why you Are seeing this drop of the market. We are not sure when the bottom is but make sure to have some cash handy to get some bargain deals in the next few weeks.
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