Drudge Retort: The Other Side of the News
Friday, October 12, 2018

A sell-off in US stock markets has continued with a second day of steep declines. Despite early gains, losses on the indexes accelerated later in the day, extending earlier drops in Europe and Asia. The Dow Jones and S&P 500 both closed down more than 2%, while the Nasdaq slid about 1.25%

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The falls came amid concerns about rising interest rates and slowing global growth. The White House dismissed the falls as a much-needed correction, but then US President Donald Trump stoked fears about the impact of recent interest rate rises with an attack on the Federal Reserve. He called the Fed "out of control", adding that he was "disappointed" by its policies. Energy firms led the slump, as oil prices posted steep declines.

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The winning continues apace...

#1 | Posted by REDIAL at 2018-10-11 11:37 PM | Reply

Home mortgage rates broke 5% last week. Sucks for those of us in the middle of building a new house.

#2 | Posted by sitzkrieg at 2018-10-12 07:53 AM | Reply

Its Ghina's fault for becoming an economic superpower against impossible odds... who knew moving manufacturing overseas could do this?

Home mortgage rates broke 5% last week. Sucks for those of us in the middle of building a new house.

#2 | POSTED BY SITZKRIEG AT 2018-10-12 07:53 AM |

Historically speaking 4-5 % is about average. The 2-3% rates are historical anomalies that occur now and then. Just saying it could be worse.
My first mortgage was 14% and I was happy to get it because a lot of people were paying 16%. My second mortgage (different home) was a 9% adjustable thankfully that came as the rates were dropping... talk about timing.

I have found it so incredible during times when loans are 2% how many people still squeak by because they purchase to the max of their capabilities rather than lower their expectations a little out of the starting gate.

#3 | Posted by RightisTrite at 2018-10-12 08:41 AM | Reply | Newsworthy 1

I liked it better when it was 3%. On the upside, by moving 10 minutes up the road, my property taxes drop by 1%.

#4 | Posted by sitzkrieg at 2018-10-12 09:00 AM | Reply

OK, let's think about this. We slash taxes on capital gains and now we act surprised when capitalists decide they want to declare capital gains.
What is unexpected about this? Sure it will hurt millions of American's 401K but that doesn't matter too much to the capitalists.
BTW, entrepreneurs are not capitalists. If you make money simply by investing money you're a capitalist. Bankers are capitalists, small business owners and certainly employees of businesses are not capitalists.

#5 | Posted by danni at 2018-10-12 09:32 AM | Reply | Funny: 1 | Newsworthy 1

I like how you just make up new meanings to words to fit whatever you feel like.

#6 | Posted by sitzkrieg at 2018-10-12 09:36 AM | Reply | Newsworthy 1

"I like how you just make up new meanings to words to fit whatever you feel like."

I love how you don't know the actual meaning of words.

#7 | Posted by danni at 2018-10-12 09:39 AM | Reply | Newsworthy 1

--BTW, entrepreneurs are not capitalists.

In what alternate universe?

#8 | Posted by nullifidian at 2018-10-12 09:41 AM | Reply

I love how you don't know the actual meaning of words.

#7 | POSTED BY DANNI AT 2018-10-12 09:39 AM | FLAG:

Capitalist, adjective: practicing, supporting, or based on the principles of capitalism.
Capitalism, noun: an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.

You are pushing semantic change because it makes you feel good, but nobody is going to follow along with your new definitions.

#9 | Posted by sitzkrieg at 2018-10-12 09:55 AM | Reply

On the upside, by moving 10 minutes up the road, my property taxes drop by 1%.

#4 | POSTED BY SITZKRIEG AT 2018-10-12 09:00 AM | FLAG: HEH HEH

smart move... good balance... changing a zip code can do a lot

#10 | Posted by RightisTrite at 2018-10-12 01:12 PM | Reply

Thanks a lot, Trump.

#11 | Posted by mOntecOre at 2018-10-12 03:07 PM | Reply

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