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Old 06-27-2016, 11:23 AM  
DaFace DaFace is offline
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Personal finance and investing megathread extravaganza

I know lewdog (and maybe others) have mentioned the desire to have a place to chat about personal finance stuff. We'll see if there's enough interest to keep this going in the long-term, but at least for now, here's a place to chat about whatever personal finance topics come up.



If you're just getting started thinking about saving and don't know where to begin, this flow chart can help. Ask for advice in the thread for more help!

Last edited by DaFace; 01-24-2018 at 03:49 PM..
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Old 08-12-2019, 05:16 PM   #3106
ghak99 ghak99 is offline
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Goddamned sister****ing USDA.

****ing corn down the butt****ing limit 2 minutes after the report today.

Giant portion of the cornbelt got planted late. Conventional knowledge says planting delays in the cornbelt cost yield. Unless it's 6 weeks late, then there is super high yields according to USDA.

So either every delayed planting weather rally there has ever been ever, not to mention a forest of paper worth of university research is flat wrong, or this yield number the USDA puked out is wrong.

Goddamned sister****ers.

/rant

tl;dr If you were short corn at 10:59 AM, you've made money.

The Tyson plant burning/shutdown news hit the market today as well.

Fun times all around.
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Old 08-12-2019, 05:20 PM   #3107
Hog's Gone Fishin Hog's Gone Fishin is online now
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The Tyson plant burning/shutdown news hit the market today as well.

Fun times all around.
I used to manage a Nucleus farm for Tyson Foods.
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Old 08-12-2019, 05:26 PM   #3108
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Please explain to me what it meant when China devalued their currency.
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Old 08-12-2019, 06:20 PM   #3109
Hog's Gone Fishin Hog's Gone Fishin is online now
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Please explain to me what it meant when China devalued their currency.
They take their $100 bills and tell everybody their worth $90
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Old 08-12-2019, 06:27 PM   #3110
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It's a bubble guys. Run! Get out at the top. Buy gold and wait for the crash.
Good time to repost this...
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Old 08-12-2019, 07:14 PM   #3111
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Originally Posted by Hog's Gone Fishin View Post
I used to manage a Nucleus farm for Tyson Foods.
This one was a beef plant. Somewhere around ~6000hd/day capacity and generally ran around 5k/day I believe. Probably a couple thousand employees, which sucks, but if the market doesn't shrug it off it'll probably serve a good ****ing to me in the short term.
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Old 08-12-2019, 08:34 PM   #3112
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Good time to repost this...
People have said we have hit a bubble since 2017! Timing the market correctly, while dumping that cash to gold isn't really a good plan for anyone. Unless you have that crystal ball on timing the market............
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Old 08-12-2019, 08:42 PM   #3113
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Quote:
Originally Posted by Hog's Gone Fishin View Post
They take their $100 bills and tell everybody their worth $90
To take that a bit further, China is weird because they don't have a free economy, so they can literally determine what the currency's value is. They do it because it makes pretty much everything they export cheaper to outsiders.
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Old 08-12-2019, 09:09 PM   #3114
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Quote:
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To take that a bit further, China is weird because they don't have a free economy, so they can literally determine what the currency's value is. They do it because it makes pretty much everything they export cheaper to outsiders.
The dirty secret is Chine NEEDS US $'s. They are hurting and companies are moving out of there for places like Vietnam. Talking heads that think they know everything say China is just waiting out Trump when in reality a Democrat like Elizabeth Warren would probably be even harder on China. China's only hope in that scenario is Joe Biden and that's unlikely.

If China would just agree to quit stealing our IP things would probably go back to the way they were for the most part.
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So, if they were polling better than Trump and the primary goal was to prevent Hillary from becoming POTUS, perhaps it would have been a better strategic decision to nominate someone who actually had a chance of beating her and preventing that than nominating Donald Trump.
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Old 08-12-2019, 11:39 PM   #3115
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The Tyson plant burning/shutdown news hit the market today as well.

Fun times all around.
Yeah. That wasnít great. It will hit Garden pretty hard. I donít know how many local cattle are killed there. Iím sure some are.

Thatís pretty bad news.
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Old 08-13-2019, 02:03 AM   #3116
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Please explain to me what it meant when China devalued their currency.
Given the trade war and worries about a Chinese slowdown, there are people who want to pull their money out of CNY (the Chinese currency) and put it into other currencies. Chinese manages a semi-pegged currency regime, so in order for the CNY not to depreciate relative to other currencies, the Chinese central bank (PBOC) has been buying CNY to prop it up. The USD/CNY level of 7 was thought to be particularly important as we hadn't crossed that since 2008.

Last week, because Trump decided to threaten 10% tariffs on a further 300bn of important (nb: these are the *really* important consumer goods that will be felt much more by all of us), China basically said, "Look, we're gonna be relaxed about where the CNY ends up fixing. We no longer view 7 as a line in the sand and will no longer buy CNY to keep it below that level." So, they allowed it to cross 7. This has two important implications: 1/ It's clearly an escalation on their side in response to Trump's actions. If one had been hoping for a calming of tensions, this pushed in the opposite direction. 2/ In simple economics terms, China becomes more competitive and exports deflation globally.

Hope this marginally helps.
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Old 08-13-2019, 07:22 AM   #3117
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Originally Posted by petegz28 View Post
The dirty secret is Chine NEEDS US $'s. They are hurting and companies are moving out of there for places like Vietnam. Talking heads that think they know everything say China is just waiting out Trump when in reality a Democrat like Elizabeth Warren would probably be even harder on China. China's only hope in that scenario is Joe Biden and that's unlikely.

If China would just agree to quit stealing our IP things would probably go back to the way they were for the most part.
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Originally Posted by TwistedChief View Post
Given the trade war and worries about a Chinese slowdown, there are people who want to pull their money out of CNY (the Chinese currency) and put it into other currencies. Chinese manages a semi-pegged currency regime, so in order for the CNY not to depreciate relative to other currencies, the Chinese central bank (PBOC) has been buying CNY to prop it up. The USD/CNY level of 7 was thought to be particularly important as we hadn't crossed that since 2008.

Last week, because Trump decided to threaten 10% tariffs on a further 300bn of important (nb: these are the *really* important consumer goods that will be felt much more by all of us), China basically said, "Look, we're gonna be relaxed about where the CNY ends up fixing. We no longer view 7 as a line in the sand and will no longer buy CNY to keep it below that level." So, they allowed it to cross 7. This has two important implications: 1/ It's clearly an escalation on their side in response to Trump's actions. If one had been hoping for a calming of tensions, this pushed in the opposite direction. 2/ In simple economics terms, China becomes more competitive and exports deflation globally.

Hope this marginally helps.
You two need to post more in this thread.

Thanks in advance.
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Old 08-13-2019, 08:24 AM   #3118
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Trump removed certain items, including cell phones, from the tariff list this morning. Market up 500+
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All kinds of people vote. Not enough of those people think highly enough of Trump to make him President but all kinds of people vote.
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So, if they were polling better than Trump and the primary goal was to prevent Hillary from becoming POTUS, perhaps it would have been a better strategic decision to nominate someone who actually had a chance of beating her and preventing that than nominating Donald Trump.
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Old 08-13-2019, 08:31 AM   #3119
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When China devalues their currency does our national debt load slow just a little? I know they own a decent portion of it.
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Old 08-13-2019, 08:36 AM   #3120
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I bought SPY yesterday when it bounced off its 200 day moving average twice in one week.
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