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
20,462 Blog Posts

America is Finished: Q2 GDP PLUNGES 32%

US jobless claims came in hot at 1.4m and GDP was -32%, and we’re just getting started. My kids aren’t going to school this year, instead they’re doing virtual school, which means my daughter will graduate HS from our living room. Almost every country in the world has recovered from COVID-19 but ours. Due to the riots and the non stop protests of outrage for the crimes committed 200 years ago, this country will continue to endure diabolical COVID-19 breakouts, with thousands needlessly perishing.

Others might tell you the infection is spreading because rural retards aren’t wearing mask at their local Cracker Barrel. But that’s a lie. Millions protest injustice and swarm together like locusts and then go home to kiss grandma and then people wonder when it’s going to end.

The Dow is off by 500 and this is my last night on vacation, then it’s back on the road with the fucking dogs and cracked windshield.

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59 comments

  1. jbandy

    The Kung Flu has confirmed my long-held suspicion that Americans, as a whole, are retarded people and the country does not deserve its status as the World’s superpower.

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    • peaches

      Fidel Castro, Omar Torrijos, Salvador Allende, Qadaffi. So many have said this and nobody listens.

      Otto von Bismarck said there is a special type of Providence that watches over children, drunk people and the United States of America.

      9/11 was the bell. Bells been getting louder and louder.

      Unfortunately its easier to hear the bell if you aren’t a boomer who talks to zero people outside his demographic… staring at a chart of the NASDAQ all day… surprised the kids figured out what inflation is and now they wanna burn everything down.

      Anyways…

      Good luck.

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      • purdy

        What do you mean by “9/11 was the bell”?

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        • ericbakerbruce

          The benevolent socialist is probably referencing Donne’s poem “For Whom The Bell Tolls.” A simple poem that addresses the nature of death and connection between all humans. Donne reflects on the transience of life and the brother-sisterhood of all the people in the world.

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          • purdy

            I don’t think that that is what he meant. But we’re all surprised that you once could read.

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        • peaches

          I mean my dad came home covered in dust from a massacre full of fire and smoke and explosions and death.

          In America. Just like dad’s come home in Iraq and other “shithole” countries.

          And that since that day it’s just been shit.

          Average American Life is shittier now

          Then there’s the 1%

          And the rest of us addicted to this TQQQ game… Pretending there is something going on here besides crazy manipulation fueled by debt and greed.

          America sucks. It’s the financial industry’s fault.

          That is why he picked the WTC

          He was trying to help us figure something out.

          Abrahamic religion is the most interesting phenomenon on this planet.

          Allahu Akbar

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          • peaches

            And anyone with an IQ above 50 is going to find out about stocks… Jump in…

            And like us…

            (You and me Purdy and other non conservatards…)

            We can bitch and moan but at the end of the day…

            …AOC is bad for my trading account…

            But great for the next generation

            You know… So that their average income might have some sort of buying power.

            But Alas.

            Everyone else is dumb.

            There is a “white” civilization to save.

            There is a black civilization that must be respected by force…

            Everyone’s dumb.

            And I’m a socialist because I think each generation shouldn’t have to work twice as hard as the last to live the same lifestyle.

            Sharing is socialist.

            Morals are socialist too now.

            “Donald trump is a good man because he has more money than me”

            We are morons and we elected morons.

            We will only elect more morons.

            That’s if we even get the chance to elect people anymore

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        • peaches

          A bell. Like your alarm clock or the lunch bell or the bell at 2:45 that means it’s time to go get high with girls at the pool.

          A bell.

          Ring ring.

          It alarms you and lets you know what time it is.

          Our time in the sun is over.

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          • ericbakerbruce

            Muslims have low IQ’s due to inbreeding.

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          • peaches

            Muslims have low IQ because its too hot to think we’ll where they live. Like the south.

            Climate is why the tiny British Isles conquered everything and why the Italians and French surrender faster than Germans or Russians.

            And why Africans and other tropical people’s have no civilization.

            there is no need for agriculture when there are bananas growing from trees all around you.

            And there is no need for discipline when there is no winter season where food does not grow.

            All countries with freezing winters have better economies than those without them.

            You’re forced to work harder and be more ingenious if you have to live with the risk of losing your children to starvation in the winter or spring.

            It’s also why the north won the war. You can’t sit on your ass and grow cotton and make a profit in the rocky Connecticut soil.

            Pressure creates diamonds.

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          • peaches

            And this whole time you thought Cortez had armor and gunpowder because he was genetically superior…

            And he thought it was because he was Christian and ate bread and sausage instead of potatoes and squash. The conquistadors literally thought they would turn into tiny little brown indigenous people if they didn’t take communion regularly.

            Like them, you too will die and take your stupid ideas with you.

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          • 1option

            Dude, you are rambling like a tweaked out meth head. Put the pipe down.

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  2. edge

    Verily, l tell thee, retards SHALL elect retards.

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  3. teslawasright

    I thought the Fly would have dispatched Safelite while he was on vacation sipping champagne cock’dtails, No?

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  4. alty

    Who exactly was caught off guard by this GDP report

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  5. peaches

    Do kids really even need to go to school anymore?

    What do you learn in public school now besides the FACT that boys can have periods?

    I HAVEN’T USED THE QUADRATIC FORMULA ONCE IN MY LIFE.

    I should have been learning about compounding and stock market history. Conveniently taught to nobody in public schools…

    But covalent and ionic bonds! Sine cosine tangent!

    Absolutely useless crap. None of that will let you stream music through virtual local area networks.

    All you need is a good SAT grade to get into a good school.

    I’m pulling my kid out of school before puberty and making him trade futures.

    If he makes money I’ll pay for an SAT tutor.

    If not he can complain that a Mexican stole his job like the rest of these useless entitled American fucks.

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    • ericbakerbruce

      move to Niger you fuckin crybaby. I hear it’s wonderful.

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      • peaches

        No. Thanks. Too hot. Internet too slow.

        As long as we have this NASDAQ bubble going I’ll stay.

        Bailouts. Tax cuts for billionaires. Bond purchases. Free healthcare. Cancel student loan debt. Higher wages.

        The combination of Latino and Jew blood in me is a sucker for free money.

        No way I’m leaving until i’ve sucked this place dry

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        • ericbakerbruce

          Try cutting your hair and getting a job hippie. Then pay taxes and be happy like the rest of us.

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          • peaches

            Typical white boomer assumption.

            You have morals.

            You must be like my hippie brother who does nothing.

            WRONG.

            Compassion. Google it.

            You don’t have to be broke to care about human beings.

            BTW… I find it mind-blowing to think you have taken psychedelic drugs yet you have the mentality of all my high school football meatball morons.

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          • ericbakerbruce

            Simmer down Captain Millennial. I’m tired of people who are proud to get hand outs and then wallow in self pity. News flash – The world isn’t fair. Never will be. Accept it, just like you accept the oneness of the universe.

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          • peaches

            You say this as if the Republican party doesn’t have a habit of cutting taxes for billionaires who live off of the work someone else did.

            People like you have been so successfully brainwashed they think giving things to workers who pay taxes is handing s*** out and giving billions to billionaires who don’t pay taxes is necessary to make the world spin.

            Millennials don’t want free shit they just want The standard of living you got.

            You shouldn’t have to be a computer network engineer like peaches leveraging his entire savings into risky tech stocks to afford a decent life.

            Everyone else my age life sucks and I have no one to enjoy all this with.

            F*** you.

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  6. soupbone

    All this longterm thinking seems to fall on deaf ears when you trade what you see? Why ponder when you have the invincibility of reacting to anything? All I require is a secure dividend so I am a bystander/reader as you know already.

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  7. purdy

    Guess I triggered Peaches. …
    AOC is adorable.

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    • peaches

      My brothers company went out of business and he lost his job.

      He spent all his money on Louis Vuitton luggage and Audi SUVs and trips to Dubai and now he must move to my parents house.

      This is the story behind today’s grumpiness.

      I’m up for the day. Week. Month. Year. Career.

      Sucks. Green on our screens and the rest of the country is falling apart.

      And if you CARE… it’s cause you are an immoral commie.

      NUTS.

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  8. purdy

    How much of the action in TLSA is due the dyslexic among the paid-extra-to-not-work thinking they were getting an electric car company cheap?

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    • tradercaddy

      My son just took delivery of his Model 3.
      Tesla reduced the price by $3000 about 6-8 weeks ago to get rid of the inventory build up (just before their earnings release).
      He lives in Oregon where they give a rebate check of up to $5000 just for buying an EV.
      Plus there is no sales tax.
      It ended up costing a few thousand more than a well equipped Honda Accord bought in my State that has a sales tax and no rebate for an EV.
      Nutty.

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    • peaches

      Robinhood kids have moved on.

      Now they’re buying calls on UVXY and handing back all their Tesla and Roku money.

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  9. heckler

    Good reading on here today while I take a break from watching my cyrptos melt the fuck higher.

    Baker Bruce is like the kid in high school that would take a bunch of mushrooms but then just act retarded and giggle and make shreiks and shit his pants before the night was over

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    • tradercaddy

      I went to University of Florida in early 1970s.
      Across from me in the dorms was a guy who would go out to a cow pasture after heavy rains and go “shroom” picking.
      Stoned much of the time and yet got great grades in subjects like organic chemistry.
      He became a fairly well known brain surgeon in Miami.

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      • peaches

        Shrooms and LSD are not drugs. Alcohol is poisonous and makes you dumb and slow…

        Yet it is the only drug most people in the West have any experience with which leads them to believe that all other drugs are much much worse.

        Weed, LSD and Shrooms are not those drugs.

        They simply force you to question everything. Like what the fuck you pay taxes for, or what it means to be “white” or “black” or “american”

        It’s no surprise your friend became a brain surgeon.

        What is a surprise is how most Americans haven’t figured out the only reason LSD is illegal is because neocon squares took a few micrograms and got scared of what they saw.

        And then got scared that the kids didn’t get scared…

        Methheads, dopeheads, alcoholics… Pillheads…

        All my friends who are hooked on prescription pills and losing at life (and supporting Trump) are the kids who were too afraid of their own shadow and/or the Catholic church to eat shrooms or smoke pot or eat acid.

        But had no problem funneling Coors light.

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        • tradercaddy

          Sure looked like a drug (psychedelic) when David was grooving on Deep Purple tunes with the black light on his Woodstock posters all the while on the lookout for the RA.

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          • peaches

            sounds like he was being himself (with a healthy dose of suspicion from living in a society that says experimenting with drugs is bad but wine is the blood of god…)

            …they gave a chimp LSD once. it sat in the corner watching the other chimps. it stopped flinging shit and playing monkey games and just sat there, thinking about HaShem.

            then all the other chimps began to attack him. the science bros had to remove him from the chimp cage.

            luckily (for the chimp) and unfortunately (for us) most people (and chimps) cant find their way back to the temple after the LSD wears off.

            which is why Bruce is still afraid of Mexicans and Arabs and Jews and women and what not.

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          • purdy

            Ah hem Peaches. tradercaddy’s roomy would have been a boomer. Generally, generalizations don’t work.

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    • peaches

      Crypto also! I almost forgot.

      I’ve never been this green and this pissed off at the same time.

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    • ericbakerbruce

      No, but if the high school party was at your house Heckler I’d shit in your parent’s built in pool and put all the frozen hamburgers under the couch

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      • heckler

        I can respect those moves 😉

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      • peaches

        if you went to my high school id jump you, only to grow up and feel terribly guilty about it and cry like a woman everytime i realize i may have ruined your life by bullying you all through high school…

        but i’d definitely overhead press you and throw you into the long island sound, while you beg me not to because you have your mom’s cell phone.

        multiple times a year this would happen

        not in the winter though

        im a good guy

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        • ericbakerbruce

          peaches – you are so bitter….and brave, I might add. Yet you remain a douche, and full of shit. You millennials are spoiled brats for absolute sure. We boomers are doing great and still have our sense of humour. We can’t believe how far it’s all come and love our liberty and forgive the faults of the others….not so with the LGBTQ trans army.

          My worst nightmare is being trapped in a room with a lot of millennial queers and trans, spoiled and obsessed. The whole lot of them, insufferable.

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          • peaches

            Boomers are only doing great because you could afford to buy a house while working behind a deli counter.

            You fail to grasp this one simple fact.

            The retards in my generation you speak of might not even realize that the only reason they think they are women or need to get their genitals removed or whatever the f*** they’re doing to express themselves…

            All this is tied to inflation and our economic policy

            The rate of children born to unwed mothers went through the roof.

            Boomers are like the first tier of a pyramid scheme…

            Born of bretton woods…

            The intelligent ones have noticed there’s a problem

            The rest of you don’t understand why everybody at the bottom of the pyramid seems to be disappointed with the way things are going.

            Whatever success you found in America would have cost you 90% more if you were in Gen X.

            And 300% more if you were in my generation.

            If Fly was my dad’s age He would have hundreds of millions of dollar s and own New York City real estate.

            every generation is being paid with dollars that are worth less and because inflation and monetary policy is not taught in public schools people have no idea that they are actually earning less than their parents did because they count in nominal USD terms.

            Americans work harder than ever and earn less than ever.

            The smart people in my generation are aware of this and they’re trying to change it.

            The dumb ones are either scared conservative losers who cannot think for themselves and thus agree with whatever their fathers tell them…

            or they are rebellious losers who choose to do nothing and cut their dicks off and want to be called women.

            This is the state of things.

            This is reality.

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          • purdy

            Generationalist! There are idiots in every generation.

            And the primary reason for the rise in unwed motherhood (and the rise in the number of kids born to unfit mothers) is that politicians have purchased votes with giveaways to the unwed.

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          • hidden hills

            Peaches have to pretty much agree with ya. My dad was a builder developer in Ca. You could not do what he did from the 50s 60s and 70s today. Restrictions, land availability, easy money. No inflation. Dad was building 400 houses a year.
            Flipping lots like it was monopoly. To this day my bro and i are just in awe in what he accomplished. Soooo with my bro and my kids we have a foundation to help out the less fortunate and unlucky. Daughter in charge, over last ten years done over 60m here. After all the kids don’t need 300m

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  10. purdy

    LOL

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  11. purdy

    Peaches, Weed, like alcohol, may have a down side.

    You all should listen to this sleep researcher or die young and demented: https://www.youtube.com/watch?v=pwaWilO_Pig

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  12. peaches

    Bro I’m fully aware that smoking weed is not healthy like eating broccoli…

    But compared to alcohol…

    … Ecstasy is healthy.

    There is only one drug in the whole world where withdrawal symptoms can actually kill you… It’s not heroin.

    It’s booze.

    And I’m also fully aware that plenty of boomers were hippies like Jimi Hendrix and The Beatles. It doesn’t change the fact that the majority of them are oblivious to what is going on in America because they don’t understand what inflation is and how fucked they’d be if they had to try and make it in this economy.

    I see my dad’s friends I see how they read what they think…

    Sorry but we’re on a trading blog… Most of you aren’t THAT dumb.

    but there is no way this generation of New York City construction workers is ever going to have the life my dad and his friends have. No matter how much overtime they work or how much or how much good old time American work ethic they have.

    These kids are fucked.

    … And any Millenial who supports any politician who doesn’t admit minimum wage should be over $20 is a boot licking moron with Stockholm syndrome.

    THAT rising tide would lift more boats than the fed buying corporate bond ETFs.

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    • purdy

      There should be no minimum wage. Freedom of association young man. Don’t want big brother telling anyone under what circumstances that can associate.

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    • purdy

      I agree that booze is bad. So bad in fact that I’ll repeat an offer I’ve made multiple time to friends/family who verbalized a desire to cut booze out completely. I will relieve anyone who wants to straighten-up of the entire contents of their wine cellar at no cost to them.

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  13. ericbakerbruce

    peaches you sound far more moronic than I’m sure you’re aware of. There are plenty of good reasons to not want to usher in a wave of socialism in this country. Why don’t you stick your lazy hand out? I have something you can have for free.

    Afford a house by working behind a deli counter? When was that…in the late 70’s when interest rates were 18%? That’s the dumbest thing that’s been said in this thread. Congrats.

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  14. purdy

    I will say this, back in the day if you wanted to make 3 or 4% REAL return on your money, you would simply open a passbook savings account at Waltham Savings yielding 5.5 to 6% …er …at least that’s what I heard from some old fart.

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  15. sia

    I’ve never seen a more naive dumb comment as
    “Due to the riots and the non stop protests of outrage for the crimes committed 200 years ago”

    Hahah, are you serious? Do you live in a fucking hole? Or are you just so privileged and naive?

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  16. dchanko

    .For the past 50 years , or more , there has been a narrative spun that meritocracy is the path to go. The way to ensure that your kids are better off than you are, that growth of GDP is the golden metric that will bring us all into the ‘promised land’
    Now , we have 50 years of data for that particular narrative and the results are in.
    Adjusted for current US dollars, grew from $686bn to $20.5 trillion between 1964 and 2018. Growing our economy by 30 times paints a nice picture. Similarly, it paints a nice picture to show that the average hourly wage in the US has grown 10 times from $2.50 in 1964 to $22.65 in 2018.
    However, when we look at wages and inflation , he actual purchasing power of average US employees has remained effectively flat for nearly 50 years. None of the economic growth of the US, it would seem, has gone into the hands of the US’s workers..

    The current generation is well aware that the current form capitalist democracy we have is a scam, and that working hard is just going to make somebody else wealthy.
    In that environment it makes perfect sense why Robinhood and the TQQQ UXVY trading seem like the smart choice … smarter than actually working

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