Major recession fear - Bitcoin plunges below $55,000, ether under $2,400 amid Jump Crypto moves, US election uncertainty

[Andrew_Jackson_FTW]

I read and I also lived it and it was hard times.

No problem. I’m just going by the fax buddy.

It’s much harder today compared to 40 years ago to get into the middle class. Simply looking at the average salary for the average 25-year-old in America tells us everything we need to know. It’s almost twice more 40 years ago compared to today.


At least under Trump things were much better. Prices were way way lower. Still it’s been a long time since we’ve had a strong class. It’s been decades.

 

[Andrew_Jackson_FTW]

Wow, the economy is tanking fast.

Despite the marking closing at a 600 point loss and the next day at a 800 point loss the democrats remain in denial.

Truth of the matter is this... every time Kamala Harris opens her mouth the market tanks lower and lower and will continue to do so as long as she is a presidential candidate. The market views K. Harris as an option for president as something retarded.

Now Bitcoin is tanking.

Remember that Bird flu summit is in October, hmmm....

The sad thing is Democrats will still support Harris. They lost their way since the great days of our leaders like John F. Kennedy. I’m traditional Democrat, but I absolutely will refuse to vote for them today for their racism against white men and for their blatant disregard for the middle class. They brainwash people With hating Donald Trump and hating America. It’s amazing just unbelievable.

Imagine the Democrat young male voter living in his parents basement how bad his life is …yet he is told to wave a BLM flag, and feel proud of Kamala Harris.

 

[SweetSue92]

Worst stock performance in two years on a single day on Friday. And a catastrophic 25% one day loss for Ethereum with the whole cryptocurrency market getting whacked big-time.

We had nothing good for the middle class during the Biden administration.

Per cbs news which is not right wing practically all middle-class Americans can’t afford a new home. We’re getting near shit hole country status. If not that a situation where there is practically no more middle-class. Where there’s a ruling elite and basically a bunch of peasants.

Yeah but VOTE FOR THE FIRST BLACK WOMAN PRESIDENT or something

 

[Andrew_Jackson_FTW]

Yeah but VOTE FOR THE FIRST BLACK WOMAN PRESIDENT or something

I’d vote for her, but sadly, she is not the pro American candidate we need. If only she was a strong woman and spoke out against left-wing radicalism and left-wing racism.

 

[SweetSue92]

I’d vote for her, but sadly, she is not the pro American candidate we need. If only she was a strong woman and spoke out against left-wing radicalism and left-wing racism.

The Democrats have killed our country under the banner of Identity Politics. It's a shame but here we are.

PS I do not care about gender or race if a candidate is pro-American with good policies. But the Democrats don't give a fig about that. Straight up: they're stupid

 

[Muhammed]

Like hell of people made 85k in 1986.

Adjusted for inflation I did. I was only a year out of high school and pulling in $60k pouring concrete. Adjusted for inflation that's a lot more than 85k. It's probably double that.

I bought my first house for cash when I was 19.

 

[Andrew_Jackson_FTW]

Adjusted for inflation I did. I was only a year out of high school and pulling in $60k pouring concrete. Adjusted for inflation that's a lot more than 85k. It's probably double that.

I bought my first house for cash when I was 19.

That’s pretty impressive. 60 K a year in the 1980s. I think that’s more than my dad was making at Ford motor company in the 1980s.

 

[0311]

fiat used to mean 'fix it again tony'.......... ~S~

BitCoin was a scam, when will people realize that.

 

[Andrew_Jackson_FTW]

While the prices remain very high and buying a house is out of reach for most middle-class Americans, it might be another buying opportunity for cryptocurrency.


Point remains though. Lots of money has been wiped out of both the stock market and cryptocurrency. Home prices are still way too high in this country for middle-class Americans. All of this occurring during a democrat administration.

It ain’t just a high price of homes. It’s also the price of a home loan trippin in interest rate in a relatively short period of time.

 

[Lesh]

Bitcoin??

Fuck that

 

[Muhammed]

That’s pretty impressive. 60 K a year in the 1980s. I think that’s more than my dad was making at Ford motor company in the 1980s.

A buddy of mine was making ~60k at the GM Hydramatic transmission plant back then. And that was straight out of high school. But of course his father also worked at that factory and pulled some strings to get him in full time.

 

[Muhammed]

Bitcoin?

Who gives a fuck

People who use bitcoin.

 

[wamose]

Adjusted for inflation I did. I was only a year out of high school and pulling in $60k pouring concrete. Adjusted for inflation that's a lot more than 85k. It's probably double that.

I bought my first house for cash when I was 19.

Adjusted for inflation generally uses the 1965 dollar as the basis. So $60K in 1980 would have actually been equivalent to a lot LESS than $60K in 1965 dollars. You would be right if you use todays battered dollar as the basis, but nobody does that.

 

[Harpy Eagle]

Sad thing if I pull out of the S&P 500 tonight, it doesn’t go through as a sale until tomorrow evening after market close

unless you need the cash soon, let it ride and keep buying while it is down, you are getting more shares for the same money

 

[Harpy Eagle]

Yeah but VOTE FOR THE FIRST BLACK WOMAN PRESIDENT or something

yeah, because she is the reason the markets are going down, had nothing to do with the Fed waiting too long to lower the interest rates.

 

[Harpy Eagle]

While the prices remain very high and buying a house is out of reach for most middle-class Americans, it might be another buying opportunity for cryptocurrency.


Point remains though. Lots of money has been wiped out of both the stock market and cryptocurrency. Home prices are still way too high in this country for middle-class Americans. All of this occurring during a democrat administration.

It ain’t just a high price of homes. It’s also the price of a home loan trippin in interest rate in a relatively short period of time.

Unless you sell it while it is down, nothing is wiped out.

 

[Moonglow]

Adjusted for inflation I did. I was only a year out of high school and pulling in $60k pouring concrete. Adjusted for inflation that's a lot more than 85k. It's probably double that.

I bought my first house for cash when I was 19.

Yet, it was not the median income then of 27k

 

[Andrew_Jackson_FTW]

unless you need the cash soon, let it ride and keep buying while it is down, you are getting more shares for the same money

That’s a gamble in light of recent events

Sp 500 leader Nvidia has a target low of $20 a share this year according to CNN money. And it’s sitting at about $94 a share down now.. 15% in the past 24 hours.

 

[Lesh]

People who use bitcoin.

I care about them about as much as I care about Vegas gambling losers

 

[Harpy Eagle]

That’s a gamble in light of recent events

Sp 500 leader Nvidia has a target low of $20 a share this year according to CNN money. And it’s sitting at about $94 a share down now.. 15% in the past 24 hours.

Then you should get out and sell all you have.