|From: Vitas||3/14/2020 3:07:54 AM|
Stagflation is an economic cycle in which there is a high rate of both inflation and stagnation. Inflation occurs when the general level of prices in an economy increases. Stagnation occurs when the production of goods and services in an economy slows down or even starts to decline.Sep 27, 2015
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|From: Vitas||3/15/2020 6:15:36 PM|
|Featured on Bing|
September 3, 2017
The Shanghai World Financial Center in China
This 101-story skyscraper would be a striking feature of the Shanghai skyline even without the aperture at the top. As of this writing, it’s the ninth-tallest building in the world. Though construction on the tower began in 1997, the Asian financial crisis that began in July of that same year put a temporary halt to the project. But by 2003, construction resumed, and the Shanghai World Financial Center was complete and open for business five years later. If you’re celebrating Skyscraper Day today, as we are, add this one to your ‘must see’ list.
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|From: Vitas||3/17/2020 3:19:48 AM|
|Stock Market Crash of 1929 Facts, Causes, and ImpactThe Worst Crash in U.S. History|
Updated March 12, 2020
The stock market crash of 1929 was a collapse of stock prices that began on Oct. 24, 1929. By Oct. 29, 1920, the Dow Jones Industrial Average had dropped 24.8%, marking one of the worst declines in U.S. history. It destroyed confidence in Wall Street markets and led to the Great Depression.
The stock market crash of 1929 was one of the worst declines in U.S. history. The three key trading dates of the crash were Black Thursday, Black Monday, and Black Tuesday. The latter two days were among the four worst days the Dow has ever seen, by percentage decline.The overconfidence in stock market investments during the Roaring Twenties created an unsustainable asset bubble.Overnight, many people lost their businesses and life savings, setting the stage for the Great Depression.
The first day of the crash was Black Thursday. The Dow opened at 305.85.1? It immediately fell 9%, signaling a stock market correction. Trading was triple the normal volume. Wall Street bankers feverishly bought shares to prop it up. The strategy worked. By the end of the day, the Dow was down just 2%.
On Friday, October 25, the positive momentum continued. The Dow rose 0.6% to 301.22. A short trading day on Saturday, October 26, removed that gain. The Dow closed at 298.97.
On Black Monday, October 28, the Dow fell 12.8% to 260.64.1?
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On Black Tuesday, October 29, the Dow fell 11.7% to 230.07. Panicked investors sold 16,410,310 shares.2?
Black Monday and Tuesday were among the four worst days in Dow history, after one-day declines of more than 20% in 1914 and 1987.3?
By percentage decline, single-day losses in the Dow Jones Industrial Average in March 2020 haven't surpassed those of the 1929 crash. However, if measured by point declines, March 2020 has seen the worst Dow days ever.
Earlier in the week of the stock market crash, the New York Times headlines fanned the panic with articles about margin sellers, short-selling, and the exit of foreign investors.
The Dow was already down 30% from its September 3 high, according to S&P Dow Jones Indices. That signaled a bear market. In late September, investors had been worried about massive declines in the British stock market. Investors in Clarence Hatry's company lost billions when they discovered he used fraudulent collateral to buy United Steel. A few days later, Great Britain's Chancellor of the Exchequer, Philip Snowden, described America's stock market as "a perfect orgy of speculation."4? The next day, U.S. newspapers agreed.
They quoted U.S. Treasury Secretary Andrew Mellon, who said investors "acted as if the price of securities would infinitely advance."5?
In response, the Dow dropped significantly on both of those days and again on October 16. By the 19th and 20th, The Washington Post reported a drop in ultra-safe utility stocks.
The day before Black Thursday, The Washington Post headlines blared "Huge Selling Wave Creates Near-Panic as Stocks Collapse," while The Times screamed "Prices of Stocks Crash in Heavy Liquidation."5? By Black Thursday, panic had set in for the worst stock market crash in history.
The crash followed an asset bubble. Since 1922, the stock market had gone up by more than 20% a year.5? Everyone invested, thanks to a financial invention called buying "on margin." It allowed people to borrow money from their broker to buy stocks. They only needed to put down 10%-20%. Investing this way contributed to the irrational exuberance of the Roaring Twenties.
The crash wiped people out. They were forced to sell businesses and cash in their life savings. Brokers called in their loans when the stock market started falling. People scrambled to find enough money to pay for their margins. They lost faith in Wall Street.
You can’t have a healthy economy without confidence in the market.
By July 8, 1932, the Dow was down to 41.22.1? That was an 89.2% loss from its record-high close of 381.17 on September 3, 1929. It was the worst bear market in terms of percentage loss in modern U.S. history. The largest one-day percentage gain also occurred during that time. On March 15, 1933, the Dow rose 15.34%, a gain of 8.26 points, to close at 62.1.
The timeline of the Great Depression tracks critical events leading up to the greatest economic crisis the United States ever had.
The Depression devastated the U.S. economy. Wages fell 42% as unemployment rose to 25%.6? 7? U.S. economic growth decreased 54.7% and world trade plummeted 65%.8? As a result of deflation, prices fell more than 10% a year between 1929 and 1933.9?
Below you can see a chart tracking key events leading up to the 1929 stock market crash.
March 1929: The Dow dropped, but bankers reassured investors.August 8: The Federal Reserve Bank of New York raised the discount rate to 6%.5?September 3: The Dow peaked at 381.17. That was a 27% increase over the prior year's peak.September 26: The Bank of England also raised its rate to protect the gold standard.September 29, 1929: The Hatry Case threw British markets into panic.October 3: Great Britain's Chancellor of the Exchequer Phillip Snowden called the U.S. stock market a "speculative orgy."4?October 4: The Wall Street Journal and The New York Times agreed with Snowden.October 24: Black Thursday.October 28: Black Monday.October 29: Black Tuesday.1933: President Roosevelt launched the Federal Deposit Insurance Corporationto insure bank deposits. After the crash, banks only had enough to honor 10 cents for every dollar. That's because they had used their depositors' savings, without their knowledge, to buy stocks.November 23, 1954: The Dow finally regained its September 3, 1929, high, closing at 382.74.1?
Other past stock market crashes led to the 2001 recession and the Great Recession of 2008.
ARTICLE TABLE OF CONTENTSSkip to section
What Happened (and How Today Compares)
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|From: Vitas||3/17/2020 4:22:55 AM|
|Understanding Political Betting OddsWhen you check out any of the sportsbooks we recommend above, you’ll see political betting odds laid out like so:|
2020 U.S. Presidential Election Odds: Winning Party
Favorites are always represented by the minus sign (-) and underdogs with the plus sign (+). At +135, oddsmakers are giving the Dems a 42.55 percent shot of winning the election. If you were to bet $100 and they did claim victory, you’d get $235 – your original money comes back along with your winnings of $135.
On the other hand, oddsmakers are giving the incumbent party a 64.29 percent shot at staying in power. A $100 bet on the Reps would give you $155.56 – your $100 is returned coupled with your winnings of $55.56.
Underdog wagers, in this case on the Democrats, are considered riskier, which is why you get a bigger payout. Faves come with less risk, hence the smaller reward. Our Odds Calculator will show you how much you’d win based on the amount bet and odds offered.
Political Prop BettingWhen betting on sports, you have moneylines, spreads and a slew of wagering options relating to scoring and different positions. In politics, you only have one type of bet to make: Props. These are bets that don’t necessarily correlate with the outcome of the election but could still influence voters, such as:
Who will be X’s running mate?How long will the debate be between X and Y?How many times will candidate X say “um” during the debate?Will candidate Y bring up former president Barack Obama or the Clintons?How many seats will the GOP win?How many seats will the Dems get?How often will candidate X discuss their health-care plan?Which party will win the popular vote?How many Supreme Court seats will be filled during the next presidency?
How to Handicap PoliticsBecause there’s no total score, strikeouts or touchdowns to look at, political prop bets use a different kind of research. Instead of betting home runs or three-pointers, you’re betting on policies.
Scandals: Rumors, Gossip and IndignitiesThis one is tricky because Donald Trump was plagued with scandal and still managed to get himself elected to the highest office in the United States. For any other nominee, disgraces do matter. The weirder the scandal, the less chance this person has of being president. If there’s a rumor that Bernie Sanders is the head of a satanic cult – which he is not – it could hinder his shot at being elected.
Leadership: Direction, Governance and Management StyleHow a candidate has led in the past is something to look into when handicapping your bets. Are they respected in their current position of senator/mayor/representative/governor? Do they command the room when they speak? If a candidate looks like they couldn’t lead a high school marching band, let alone an entire country, you can kiss their presidential probabilities goodbye.
Injuries: Flus, Colds and General WellnessIn professional sports, even something as slight as a blister can keep the best athletes out of key games. The same goes for politics. Anyone who so much as sneezes during a debate could appear weak and influence voters to choose their opponent instead.
Promises: Offers, Eccentricities and LiesAnyone who promises peculiar things is not going to win. Odd candidates also do not have a history of winning their races. Look out for those who make promises on the campaign trail that they will definitely not be able to keep. We’re not talking about the general stuff like lower taxes or Medicare for All – we’re talking about things that make little sense like free cutlery for cats or $1,000 a month to every family in America.
Politics is one of the many betting markets you can take advantage of. If you can correctly predict who will win the 2020 election, you could see yourself winning big. You won’t be Bloomberg rich but you could clean up like Mayor Pete at one of his wine cave fundraisers.
U.S. Political Betting FAQ
Where can I bet on U.S. politics?
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