Joel Elconin - Benzinga Pre-Market Prep Show – Wed 14 Aug, 2019

There are many reasons to be worried about the health of the US markets

Joel Elconin, Co-Host of the Benzinga Pre-Market Prep Show takes a broad look at the US markets and shares what has him worried. These worries range from weakness in oil stocks, yield curve inversions, and the government now attacking the tech stocks. Even though the markets were at all time highs not too long ago the bearish argument is starting to build up steam.

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  1. On August 14, 2019 at 12:07 pm,
    Ebolan says:

    If the markets don’t keep going up how do they prevent the goooberment pensions from imploding?

    Last night went to a presentation put on by the local recreation district and guess what it was for? If you guessed a tax increase you guessed right!

    Slick power point presentation crying poor mouth and telling us all the wonderful things they would do with the money. They mentioned their “challenges.” This little recreation district has unfunded pension liabilities in the millions and they didn’t say one word about that!

    Well, I called them out on that and then they started to lie so I called ’em out on that. When it was clear they wouldn’t let me speak any more I walked out.

    Remember they are vastly underfunded in one of the greatest bull markets in history. What happens when the next bear market hits???

    The powers that be will do all they can to prevent the markets from falling because these pensions will implode and then all Hell will break loose.

    • On August 14, 2019 at 2:12 pm,
      cfs says:

      I don’t understand.

      Stocks have been going up.

      Bonds have been going UP.
      (Interest rates are going down, but that gives large capital gains.)
      HOW is it possible to be underfunded unless you sell feed grain to cover incompetence.
      That was not a real question, of course, because localities have given in to unions all the time and actually not had the guts to tax high enough to provide the ridiculous pensions.

      How many police serve 20 years in one district, “retire” on a full pension, only to serve another 20 years in another district for another full pension ?

      That goes for a lot of public “servants” who double dip.

      • On August 14, 2019 at 2:53 pm,
        Ebolan says:

        You’re right about that. In Commiefornia no one is more powerful than the public employee unions.

        And at the local level so many city councilors or county supervisors are also state, county or city employees, mostly bureaucrats or lawyers and/or their spouses are government employees.

        And everything they do makes the pension situation worse. These people are constantly getting cost of living increases and raises. All that increases what their pensions will be.

        Then yo factor in demographics and it’s no surprise that even with the greatest bull market in history the pensions have become even MORE underfunded.

        But if you bring this up those trough feeders get very angry. I got an earful last night! What’s most discouraging is the public just doesn’t care. Last night at that meeting there were only about 20 people and most were city employees or special interests that stood to gain from the tax increase.

  2. On August 14, 2019 at 12:10 pm,
    Ebolan says:

    Hah, DOW down by 666.00 then 666.66

  3. On August 14, 2019 at 1:55 pm,
    cfs says: