Saturday , October 5 2024
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Market crashed 2-percent. Oh no!!!

Summary:
Despite all the war mongering market averages fell only 2% on the week.

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Despite all the war mongering market averages fell only 2% on the week.
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

20 comments

  1. As a Phoenix native I concur on the air condish..

  2. Remember Biden Hunter and Ukraine scandal?

  3. Your original video from earlier this month was spot on except for the small rally in gold.

  4. Fish again tonight, Mike? No red wine?!?! Hahaha!!! Enjoy, Man!! Thank You for everything, Man… 👊👊👊

  5. Mike, would you share your thoughts on stocks like ROKU and all the other stocks in the stealth bear market. MEME stocks are smacking all the diamond hands

  6. Is there a vaccine for the "Death Cross"? The Death Cross has almost always been a great time to buy BTC in the past.

  7. Maybe, sabre rattling is needed in order to maintain the whole inflation narrative thru spending.

  8. i need to be PC to satisfy "WOKE". I thank aIIah that Biden has renewed my faith in a russian invasion with the words "MAY HAPPEN ANY DAY!"… my rule #1 ALWAYS TRUST A KNOWN LIAR! they never do you wrong.

  9. Awesome ! Thank you Mike Have a great weekend

  10. i bought another 5 shares PYPL in AH sub 104. my avg is now 115.iah,

  11. I think germany getting on board to agree to cut off gas imports and europe united in sanctions ties Putins hands. The U.S. gas and oil and mining would be enriched as they filled the gap with russia cut off.
    Putin then would be forced to dance to strings of Beijing as all their resources would need to flow thru China and the countries under its influence.
    Putin has a loosing hand. All he can do is punish Ukrain by discouraging business investment and sowing political dissent. Think this will slow NATO in the short term if Putin leaves a strong message of instant war declaration upon Ukrain joining NATO

  12. Indoor plumbing!

  13. Yes the US deceived Russia with false promises, that doesn't make Putin trustworthy or any less dangerous -my feeling is he is a troll first above a threat but with claims and counter claims of false flags, who really knows what is happening or where it will end.
    Btw following the 'Open letter to Mikhail Gorbachev (1990)' signed by many economists, see wiki, moves were made for Russia to transition towards a land tax based economy, economists including Michael Hudson went over to see what could be done, Ted Gwartney who set up the property tax in many areas including British columbia was assigned the job of setting up the land tax, and the young former KGB agent who was due to work under him was…Vladimir Putin.
    Instead the IMF got their way and the economy descended into oligarchy. That for me was the biggest betrayal.

  14. The fed is not done dumping the market yet so, the Ukraine thing will continue. Expect the market to go down and end at blow off bottom this year. Then back up up up…

  15. Someone is chopping onions in the kitchen.

  16. Mike I think you're underestimating the rate increases effects on the mkt. I dont think a ton of this is Russia to be honest, usually markets sniff this stuff out and people do not think there will be any meaningful armed conflict. When you go from zero to 2.5% in 18 months, or whatever the market is forecasting, it shocks the entire system. Takes 100s of billions/trillions out of the economy. Last time fed rate was 2.5% the S&P was 3000. Obviously it's not the same but I think it's something to think about, especially if the pendulum swings deeply the other way like it often does.

  17. War is The Health of the State!

  18. I think they are going in "slowly"

  19. Putin isn't folding, he's waiting for domestic consent to intervene. Best case scenario for Russia is they don't have to intervene and the republics defend themselves successfully. Russia probably won't intervene until there's a ground invasion into the heart of the Donbas from Ukraine military/proxies.

  20. the most important invention isn't the internet, electricity, cars or planes. it's running water.

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