iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,474 Blog Posts

*** CIRCUIT BREAKERS TRIGGERED; STOCKS HALT TRADING AFTER 7% DECLINE ***

We will reopen at 9:49am

DEVLOPING…

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13 comments

  1. ericbakerbruce

    Good day unruly mob of self-indulgent
    middle class hooligans
    16
    I just named the
    number of Jack Daniels shots
    that Jim Cramer needs
    to get through the day

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  2. wolfdaddy

    Do we have any beta male millennial readers? Just curious how that POS Robinhood is holding up?

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  3. jbandy

    The biggest problem is low rates and accomodative central bank policy has created so much leverage and malinvestment–that any little slowdown in growth or shock can have an unforeseen systematic impact. Therein lies the problem and that’s why we’re seeing circuit-breakers triggered. This is not about coronavirus, it’s about a global economic system artificially-inflated over the last decade to the point that it is utterly fragile.

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    • numbersgame

      Yup, COVID-19 is just a trigger, the proverbial straw that broke the camel’s back.

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    • indie

      In other words, it’s not COVID (aka Wuhan bat soup virus) it’s grifter Trump gang fucking tricked casino statist interventionist policy. under tea party watch at that.

      but i hear biden is senile, right?

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  4. numbersgame

    TVIX at 2fucking50

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  5. jbandy

    Well, I’ve been sitting on 85% cash and 15% stocks for the last 12 years. This sell-off feels good, but I’m nowhere near close to feeling vindicated. Would love another 40% drop from here.

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    • indie

      da fuck. really? like 12 years waiting for the apocalypse for some schadenfreude?

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    • jbandy

      lol pretty much. I’ve done decent though investing in real estate, precious metals, and CDs. You sleep better, that’s for sure.

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  6. indie

    Halted to give Mnuchin time to phone banks.

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  7. jbandy

    If only the Fed Reserve and the Fed Government had some dry powder–we could see an appropriate fiscal/central bank response to what should be a steep, but short-term shock. If only….

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