Search
Economics
Politics

Amazon Hammered 14 Percent After Hours, Cramer Sheds a Tear Over Facebook

•

•

45 comments on Amazon Hammered 14 Percent After Hours, Cramer Sheds a Tear Over Facebook

•

Generals Take a Dive

Cramer Tears Up

Amazon Takes a Big Dive

After being down about 19 percent it has now recovered to down 14 percent.

Amazon looking to cut costs.

Q: If Amazon is seeking to cut costs, again, what’s that mean? 
A: The US consumer threw in the towel.

We can see that if one looks beyond the GDP headline.

Exports and Government Spending Trigger a 2.6 Percent Jump in Third-Quarter GDP

Please consider Exports and Government Spending Trigger a 2.6 Percent Jump in Third-Quarter GDP. 

Real final sales to private domestic consumers rose a mere 0.1 percent annualized. 

Recession Postponed

The recession was postponed, but not for long.

This post originated at MishTalk.Com.

Thanks for Tuning In!

Please Subscribe to MishTalk Email Alerts.

Subscribers get an email alert of each post as they happen. Read the ones you like and you can unsubscribe at any time.

If you have subscribed and do not get email alerts, please check your spam folder.

Mish

Subscribe to MishTalk Email Alerts.

Subscribers get an email alert of each post as they happen. Read the ones you like and you can unsubscribe at any time.

This post originated on MishTalk.Com

Thanks for Tuning In!

Mish

Mike Shedlock

Recommended Articles

Subscribe
Notify of
guest

45 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
Christoball
Christoball
1 year ago
The exit door will get very crowded. The chicken has come home to roost.
0
Reply
MarkraD
MarkraD
1 year ago
Depending on the coming election results, the solution will be either –
(R) Cut taxes for the wealthy, because they will use the extra money to induce “job creating” investment (in other parts of the world), that will “pay itself back via increased tax revenues”.
(D) Fling money at the masses, because it will “pay itself back in tax revenues”. (though the money does stay here)
Either way, debt explodes for both government and median households, then, onus is on the Fed to make debt cheaper.
In either case, let’s all remember “deficits don’t matter”, because, to the indvidual participants who benefit from this twisted system, it really doesn’t – they’re wealthy, they’ll have options if/when the U.S. economy collapses.
We have binary and extreme solutions, where the wealthy donor class gets wealthier, and avg Joe’s are fed b-sh-t theories by politicians gaining from the bribes and job offers, and it’s bought/paid for with our debt.
“Money is free speech”, seriously.
We, voters, are pathetically easy to distract – instead of focusing on these things, we’re bludgeoning each other over Immigration, “Woke”, LBGT, abortion, gun rights, global warming, anything but what they want us to focus on.
Thief starts a bonfire on the front lawn, enters home and takes what he wants while we stand outside arguing about how to fight the fire on the lawn.
.
0
Reply
MPO45
MPO45
1 year ago
Reply to  MarkraD
Well said and that’s why I don’t play the dumb political game anymore. My family and friends were ‘outraged’ that I didn’t bother voting and I asked, what has changed between Biden, Trump, Obama, Bush the last 20 years? None could give me a real answer.
I know some clowns will jump in and claim things were better under ‘X’ but that’s childish nonsense. Until the entire cancerous body gets better, fixing paper cuts isn’t going to change a damn thing and the patient (country) will die of cancer.
My only interest now is amassing enough profits to go live in a non-toxic country. I’ll hopefully be there this time next year.
0
Reply
MarkraD
MarkraD
1 year ago
Reply to  MPO45
I’ll get flamed for this, but I DO vote.
While both sides are extremely irresponsible fiscally, the hint lies in parenthesis in my “(D)” statement, where the money stays here and tends to benefit the median a bit more vs the most wealthy.
A sleazy thief selling stolen goods from Walmart will at least spend his profits domestically and pay sales tax on his “bling”, vs a billionaire who spends his money from tax cuts opening shop in foreign countries for the cheaper labor.
It’s just easier to focus on the sleazy thief because, again, we’re distracted from the donor class with countless petty issues….and they extract far more of our wealth.
No, I’m not endorsing sleazy thieves, it’s strictly for comparison, food for thought.
.
0
Reply
Lisa_Hooker
Lisa_Hooker
1 year ago
Reply to  MarkraD
I have observed, over many decades, that voting only encourages them to continue their behaviour.
As they say in AA, don’t be an enabler.
0
Reply
MarkraD
MarkraD
1 year ago
Reply to  Lisa_Hooker
“If you chose not to decide, you still have made a choice.”
0
Reply
Lisa_Hooker
Lisa_Hooker
1 year ago
Reply to  MarkraD
Actually no, I simply ignore it completely.
0
Reply
spa sidechats
spa sidechats
1 year ago
Several years ago I came across this old Benson episode regarding censorship (22 min mark):
There was no internet back then but replace books with tech. I cancelled all of it when their censorship started along with millions of other people. I really liked Amazon but not when they are censoring and blocking apps and products that aren’t harming anyone. As Benson stated, the people will decide what to censor which is what happened in the end despite their best efforts. I have found other services and businesses that are more on target with my values. It’s not the main factor in the downturn but it one being being….censored.
0
Reply
MarkraD
MarkraD
1 year ago
Reply to  spa sidechats
Gets dicey, we have the right to bear arms, but should we have the right to own stinger missiles, nuclear weapons?
We have the right to a redress of grievances, is that the right to overthrow the capital?
Does freedom of Religion allow me to have my neighbor forced to move because his lifestyle offends my religion?
We have the right to free speech, is that the right to instruct and direct masses to kill those who disagree with our view?…To dispense propaganda en masse?.. Would Hitler, or his supporters inside the U.S. have had the right to airdrop propaganda leaflets inside the U.S. the way he did to Europe?
The Constitution has limits to the freedoms it allows, I don’t think censorship’s the answer, but I do think information providers should be forced to disclose the sources of their funding, their location, and whom their writers are.
We have the right to vet our sources, to know who’s informing us.
Lest we have no clue who, say, “Qanon”s originator really is, what country he serves, or what his agenda is.
All this, meanwhile, seems like a distraction from our real problems, fiscal, economic.
.
0
Reply
TexasTim65
TexasTim65
1 year ago
FAANG stocks are getting hammered one at a time. Given their over representation in the stock indexes (and how much they carried those indexes over the last year or so making it look like everything was fine) it’s going to make for an ugly blood bath when people get their 401K or brokerage account reports. That’s when the reality is really going to set in on how tapped out consumers and especially retirees are.
Apple up next though it may hang on a bit longer than the others due to its large war chest of cash it can blow on stock buybacks.
0
Reply
MarkraD
MarkraD
1 year ago
Reply to  TexasTim65
Excellent use of their “job creating” tax cuts.
0
Reply
Doug78
Doug78
1 year ago
Reply to  MarkraD
Before the 1980’s stock buybacks were considered stock manipulation and forbidden by law and then a small regulatory change made them legal and voila!
0
Reply
MarkraD
MarkraD
1 year ago
Reply to  Doug78
But, regulation inhibits economic growth, all regulation is bad….so what if we had a silly “sub-prime” debacle, or a few people died from opioids as Doc’s told them it wasn’t addictive.
Let’s, instead, fight about abortion, immigrants, guns or “woke”….it’s more juicy.
0
Reply
Doug78
Doug78
1 year ago
Reply to  MarkraD
Regulatory inhibition inhibits. Regulating inhibition inhibits freedom which should be the object of all uninhibited societies unless if the inhibition inhibits choice. In that case the inhibition inhibiting inhibition is not doing its job properly.
0
Reply
MarkraD
MarkraD
1 year ago
Reply to  Doug78
Sounds inhibitively inhibitive, best to just consult local campaign slogans to unfurl the confusion.
0
Reply
Doug78
Doug78
1 year ago
Reply to  MarkraD
Why it’s perfectly clear.
0
Reply
KidHorn
KidHorn
1 year ago
Government numbers don’t seem to reflect what private industry has been saying. Big revisions coming.
0
Reply
Doug78
Doug78
1 year ago
The tech bloodbath will have secondary effects that are political. If your stock options are underwater you will have less money to donate to your favorite political party and less to donate to your favorite causes. Expect a wave of layoffs in the woke cause industry as lawyers, consultants and militant staffers as money becomes tight and starts to run out.
0
Reply
Zardoz
Zardoz
1 year ago
Reply to  Doug78
“The woke cause industry”
Now there’s fresh kookery… today’s Golden Kooky goes to you!
0
Reply
KidHorn
KidHorn
1 year ago
Reply to  Zardoz
is there anything in your arsenal other than accusing people of being kooks? It’s like how the left falls back on accusing people of racism when all else fails.
0
Reply
Lisa_Hooker
Lisa_Hooker
1 year ago
Reply to  KidHorn
Hey, that’s racist!!!
0
Reply
Doug78
Doug78
1 year ago
Reply to  Zardoz
I formally accuse you of being a woke cause industry denier and just you wait till my twitter army delves into you past tweets, posts, random meetings, selfies, hair and cloth styles, your friends and enemies, your taxes and those taxes you didn’t pay and basically anything we find that we can twist into our narrative. All that costs money so I do need some financing, actually a lot. The lawyers and consultants are especially greedy but it’s greed in a good cause so they can be forgiven.
0
Reply
randocalrissian
randocalrissian
1 year ago
Reply to  Zardoz
“woke” is just the latest assault on intellect by American’s anti-intellectual conservative army. Richard Hofstadter got it right in his 1960’s book Anti-Intellectualism in American Life. Boy was he ahead of the curve. Funny how the left not shopping somewhere is “canceling” and if the right does it for the same reason it is usually some sort of patriotic defense of America’s red-bloodedness against Obama’s gay chemtrails.
0
Reply
Doug78
Doug78
1 year ago
Reply to  randocalrissian
Hofstadter was one of his generation that joined the Communist party in the 1930’s and only gave it up much later so his “intellectual” power didn’t seem to have been able to detect the Big Lie that is communism then. Later on he wrote about how most Americans who didn’t swallow his faulty intellectualism as anti-intellectuals. That is a pure example of what Marx wrote as a tactic to create confusion. The quote is: “Accuse Your Enemy Of What You Are Doing, As You Are Doing It To Create Confusion”.
0
Reply
Lisa_Hooker
Lisa_Hooker
1 year ago
Reply to  Doug78
That sounds like something Sun Tzu would have written.
And wise up, Communism is not a lie, it is the truth.
A terrible, horrible, unfortunate truth that refuses to die.
0
Reply
RonJ
RonJ
1 year ago
Reply to  randocalrissian
Intellectuals don’t seem to have a lot of intellect.
Safe and effective was a lie. Intellectuals fell for it.
0
Reply
Christoball
Christoball
1 year ago
Reply to  randocalrissian
Hard work and common sense beats intellectuals every time. Lots of educated idiots out there.
0
Reply
Captain Ahab
Captain Ahab
1 year ago
Reply to  Zardoz
Au contraire, tu ne sais rien. Doug78 is onto important ramifications for the Democrap party.
0
Reply
PapaDave
PapaDave
1 year ago
As I have said many times over the last several months; spending on basic needs such as food, shelter and energy will hold up while discretionary spending will not. This is reflected in the results of many retailers and in Amazon results.
0
Reply
Billy
Billy
1 year ago
Reply to  PapaDave
The short term rental market is getting hammered too. Backs up your theory.
I’m starting to think that J Powell is monitoring saving/checking accounts to see when enough pain is too much before pivoting.
0
Reply
Rbm
Rbm
1 year ago
Reply to  Billy
Funny you should mention that. I heard the totals yesterday. Got thinking who has all the cash stashed in the bank. Normal people or the wealthy sitting out of the market etc.
where is all the covid printed money collecting.
0
Reply
MarkraD
MarkraD
1 year ago
Reply to  Billy
“I’m starting to think that J Powell is monitoring saving/checking accounts to see when enough pain is too much before pivoting.”
I truly hope so, as well as R/E related industries, as a forward indicator.
0
Reply
PapaDave
PapaDave
1 year ago
I was heavily invested in tech companies such as Amazon up till around 2 years ago. I was fortunate to ride the strong period of tech growth for several years.
Then I switched to oil and gas companies as they were entering a strong growth phase. I expect the oil and gas growth phase to last several more years at least.
Forget Amazon and most other tech stocks for the next few years. The big tech growth period is over for now.
Look to oil and gas for growth now.
0
Reply
whirlaway
whirlaway
1 year ago
Watching Cramer’s TV show to get investment education is like watching an X-rated movie to get sex education.
0
Reply
TexasTim65
TexasTim65
1 year ago
Reply to  whirlaway
So are you saying I’m getting a good or bad sex education 😉
0
Reply
HippyDippy
HippyDippy
1 year ago
Reply to  whirlaway
Cramer wrong? How is that unusual? Haven’t watched him in 20 years, but he was the master of pump and dump back then. A true scumbag.
0
Reply
hmk
hmk
1 year ago
Reply to  HippyDippy
Barron’s many years ago wrote that you would have made more money shorting his ideas than buying them. Facts don’t seem to matter now a days for anything.
0
Reply
HippyDippy
HippyDippy
1 year ago
Reply to  hmk
When money’s involved, facts have never mattered. Funny how shorting his holdings, which brings limited profit and unlimited risk, was better than the limited risk and unlimited profit potential of common stock. And don’t get me started on Maria Bartawhatever! lol
0
Reply
KidHorn
KidHorn
1 year ago
Reply to  HippyDippy
How is that different than everything else on MSNBC?
0
Reply
StukiMoi
StukiMoi
1 year ago
Reply to  whirlaway
It goes deeper than that:
Neither is an area where ANY “education” is of ANY, even theoretical, merit whatsoever. Just as comatose hobos are not even infinitesimally worse, even just possibly so, than Warren Buffet at the former( (public markets) investing); the Burkas and keep’em-separated crowd, are the ones prforming the best at the latter.
*investing off of public markets are different. It does pay to have more than random knowledge about where on earth to pay for drilling an oilwell….. But for anything publicly traded; even in “off-market” markets, all such knowledge, by everyone and anyone, is already incorporated. So: All that’s left is random (along with the stubbornness of some, wrt persisting in developing “systems” to beat Vegas dealers)
0
Reply
Doug78
Doug78
1 year ago
Reply to  whirlaway
You should be watching Cramer for sex education and x-rated movies for investment ideas. That’s the way to go. Cramer is an example why you should stay away from bald men and x-rated movies give me ideas where to put my money.
0
Reply
MPO45
MPO45
1 year ago
There are 22,000 PUT contracts some ‘entity’ did today on KRE (Regional bank ETFs) for January 2023 and March 2023 expiry. 11,000 contracts x 2 at the $40 strikes. KRE is trading at $60 right now so this won’t pay unless KRE drops $20/share. It is a bit unusual and just like BP and XOM calls were going through the roof, those stocks are now popping up. It could be a calendar spread or hedge of some type or maybe it’s some Fed insider because it’s not like that hasn’t happened before but who knows?
I may tag along the KRE trade for fun and entertainment only.
Addendum: Just saw an additional 17,000 contracts for January 2023 $50 strikes. These are huge bets banks going down.
0
Reply
Steve_R
Steve_R
1 year ago
Reply to  MPO45
Hard to say if this a bull put or not, my thinking it is. So far Oct 13 was the bottom, institutional money came in that day at 3500. I bought leap calls in shopify and intel at the 25 strike 2 and 3 years out. Can sell premium against it. So far so good, best to you.
0
Reply
MPO45
MPO45
1 year ago
Reply to  Steve_R
I bought the same PUTS today although just a small amount but if KRE drop $20/share then why not profit from it?
0
Reply
Steve_R
Steve_R
1 year ago
Reply to  MPO45
I believe the professionals sold this option and did not buy it, bull put
0
Reply

Stay Informed

Subscribe to MishTalk

You will receive all messages from this feed and they will be delivered by email.