quote:

Cryptocurrency traders were having a blast Tuesday after bitcoin gained approval in the futures market, but not everyone was in on the party.

After CME said it would launch bitcoin futures before the end of the year, fears quickly arose that money would start cascading in, sparking dark comparisons with a financial crisis-like orgy of speculation.

"I have no problem with bitcoin. I like the concept," said Joe Saluzzi, a principal at Themis Trading. "I have a problem that on Wall Street the innovators are trying to package something up and put a derivative label on it when they really don't know what's underneath. It reminds me of the financial crisis all over again."

quote:

That's one thing that scares Saluzzi — like the mortgages inside the collateralized debt obligations that helped precipitate the crisis, bitcoin's value could be hard to determine and bring substantial risk to the market.

quote:

"There could be spoofing, there could be layering, there could be all sorts of manipulation going on in bitcoin now, and nobody knows," Saluzzi said. "Until they say they are watching and making sure there are no manipulations and fraudulent activities, until they say we have a better regulatory system, I think we are playing with fire."

Saluzzi is hardly the only voice on Wall Street warning about bitcoin.

JPMorgan Chase CEO Jamie Dimon has threatened to fire anyone on his staff trading in the cryptocurrency, and Larry Fink, CEO of BlackRock, the largest money manager in the world, recently called bitcoin an "index of money laundering."

call to action posted:

Why ask Trump that when he probably didn't have much to do with all that pre-2017 data? Don't wanna question Abuela or the Waterskiing King?

quote:

Women in Saudi Arabia have scorned the government's decision to grant citizenship to a female robot who, unlike them, does not need a male guardian or have to cover her head in public.

Social media was abuzz with questions about whether the robot, Sophia, who was unveiled at a technology conference in the capital Riyadh last week, will be treated like other women in the conservative kingdom now that she is a citizen.

"It hit a sore spot that a robot has citizenship and my daughter doesn't," Hadeel Shaikh, a Saudi woman whose four-year-old child with a Lebanese man does not have citizenship.

Jeb! Repetition posted:

The way he overstates the horror of the situation so much at the beginning kind of hurts the article.

Pick posted:

In what respect to you think the upcoming market collapse will be different than the last one?

Agronox posted:

Rex-Goliath posted:

do you kick yourself for not speculating on beanie babies too? because you shouldn’t

Prav posted:

tiny poor brain: this scam is only useful for money launderers and criminals
big rich brain: this scam is useful for money launderers and criminals

logikv9 posted:

college students are poor as gently caress if you try and price gouge them your business won't last very long

NNick posted:

In public university, administrative position ballooned over the past few decades while most actual teaching positions are fielded by adjunct. You see stadiums, student centers, new corporate sponsored being built while states pulling funding. Basically, very little which actually helps students.

As my Marxist professor friend of mine said, "It costs almost nothing to put 10-15 people and 1 professor in a room, but yet costs keep going up"

Trash Trick posted:

hey does anyone have that warren buffet graph thing that detailed one way that stocks are currently obscenely overweight? it was a few pages back and I am having trouble finding it on mobile

SKULL.GIF posted:

so something interesting is happening

Amazon -3%
Nvidia -7%
Apple -2.35%
Netflix -5.28%
Adobe -4.37%
Arista -4.33%
Alphabet -2.6%
AMD -3.17%

all this morning

quote:

Mike Bailey of FBB Capital Partners believes investors may be shifting investments to the financial sector.

SKULL.GIF posted:

US markets looking 'overstretched' and could trigger a sharp reversal, ECB vice president says

Speaking to CNBC, Vitor Constancio said: "Certainly the cyclically-adjusted price (to) earnings ratio in the U.S. is well-above historical averages."

This ratio is an important metric used by traders to gauge the value of stocks. The fact that they are above their usual average means that there's the risk of a potential overvaluation in the U.S. stock market — which could potentially lead to a reversal.

"We see that some markets are overstretched or at least with indicators that are away above the historical averages," Constancio told CNBC.

"At the same time we can see that volatility both in the equity and the bond market is very low, which experiences shows in those situations some events may trigger a sudden revision of expectations by investors," the Portuguese banker said.

The ECB released Wednesday its biannual Financial Stability Review, in which the central bank points to potential risks to the stability of the euro area. In the report, the bank said that despite the improved economic growth in the euro area there are concerns related to a sudden increase in volatility.

Markets have been on the bullish side throughout the year and many continue to push further into record territory. The ECB believes there is the risk that this overall sense of optimism is miscalculated, which could end up shaking financial markets once money managers realize they took on more risk than they could handle.

quote:

A prolonged bull market across stocks, bonds and credit has left a measure of average valuation at the highest since 1900, a condition that at some point is going to translate into pain for investors, according to Goldman Sachs Group Inc.

“It has seldom been the case that equities, bonds and credit have been similarly expensive at the same time, only in the Roaring ’20s and the Golden ’50s,” Goldman Sachs International strategists including Christian Mueller-Glissman wrote in a note this week. “All good things must come to an end” and “there will be a bear market, eventually” they said.

As central banks cut back their quantitative easing, pushing up the premiums investors demand to hold longer-dated bonds, returns are “likely to be lower across assets” over the medium term, the analysts said. A second, less likely, scenario would involve “fast pain.” Stock and bond valuations would both get hit, with the mix depending on whether the trigger involved a negative growth shock, or a growth shock alongside an inflation pick-up.

Grondoth posted:

Hey what's this

Tiler Kiwi posted:

i wonder if there's a degree of fear that motivates some lawmakers, in that any action they take now that could be read as disadvantaging the capitalist hegemony even slightly could cause the bipolar sociopath stock market to slam our civilization into a concrete wall at 100mph

Crowsbeak posted:

Gen Z I think will be a generation that will be largely left wing, but it will have a significant nazi minority that will make up almost 30% of the Whites. So almost 20% of it will be Nazi.

Rex-Goliath posted:

second- who the hell is driving this?

Pick posted:

Well I'm just confused because official metrics say the economy is "good" but everyone I know is "scared" and "doing terribly".