Revlon has declared bankruptcy. The DOW today is down another 800 points, falling to the lowest level in more than a year. The S&P 500 fell to a new 52 week low today. In fact, it is lower than when Biden was inaugurated.
The wheels are coming off.
Categories: The Collapse
5 Comments
Big Ruckus D · June 16, 2022 at 11:26 am
Irrespective of the underlying reasons for the crash, the DOW has largely been a fiction buiilt upon endless financial engineering scams at least since post 9/11. A shitload of “Dow 30,000” needs to come off for anything resembling a measure of true market value.
So many of the stock buybacks that boosted individual companies (mostly to hide the fact they weren’t making gains through organic growth) will need to be given back to the ether from whence they came. Add in two plus decades of esssentially 0 interest rate policy, which was done to goose things and further conceal ugly reality.
Then there are the companies who flat out blew smoke up our asses for years WRT their profitablilty, and even the viability of their business model. Yeah, I’m looking at certain tech giants and media outfits; specifically social media and streaming serivces. Add in bad actors like pharma companies, which eventually will get their record profits nicked one way or another for the damage they did with covid shots, and the general sentiment that “this sucker”s going down” (credit G.W. Bush, once upon a time) taking hold, and yeah, it’s taking a big hit.
Great Reset Leap Forward · June 16, 2022 at 12:50 pm
Burning it all down better.
Disaster capitalism with the same old more for them less for us.
Nothing new under the sun with Athenian democracy.
Revlon wasn’t woke enough for the fabulous rainbow bathhouse abomination Chiquitastan?
Stocks are a construct of the white male patriarchy as is Bidenflation.
Vinson · June 16, 2022 at 2:21 pm
Interesting times indeed
dave in pa. · June 16, 2022 at 5:44 pm
stocks for the most part where over priced for a long time.
still it was a way to make some money if you got out at the right time.
same deal with bitcoin, IF you got out at the right time.
had a TSP account for a while while working for the VA. I made money with it, but cashed it out when I retired in 2016 as I figured the bitch was going to get it. after the semi crash of 2008, I bought big as prices where low, and sold when they where climbing. I did okay.
some say I should have stayed in and made even more, but look at it now. those same people are freaking out about it.
when the fed started with the bailouts, I just knew the dollar was going to drop like crazy. so, I buy stuff with any paper money I get these days
stuff is better than money. as long as it is the right stuff, that is
Divemedic · June 16, 2022 at 6:09 pm
LOL. I did the same during the stock crash in 2020. I bought Royal Caribbean at 21 in April then sold it at 84 in December. I also got Darden at 65 then sold it at 110. We made a killing.
I’m looking at RCL right now at 35, but I don’t think we are at the bottom yet.
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