Posted on 09/26/2022 10:27:23 AM PDT by Signalman
29,169.31 SEP 26, 01:25 PM EDT -421.10 (-1.42%)
(Excerpt) Read more at msn.com ...
Biden’s “Inflation Reduction Act” in action.
Chortle!
“A lot of people at my work are converting their 401k’s out of stocks. To me, they are just locking in their losses and with the inflation rate, they are just going to lose more if they have cash positions.”
I’m with you. It’s not especially fun to see your balances dwindling, but the stupid money buys high and sells low. And that’s what we’re witnessing. The smart money rides it out. The market might take a year to bounce back... or 5 years ... or 10 years, but when it does, you’ll eventually be glad that you didn’t sell into the bear market.
Right now for instance there is approximately 115 paper oz for each physical oz. Unfortunately as long as gold contracts exist the price can be heavily manipulated by creating more paper gold.
Concur. But oh, it’s hard not to. Lots of us may not have 10 years.
Needed transitions, forward transition, discomfort as we transition, transition to benefit us all, transformative steps, yadda, yadda, yadda.....
I'm not able to comprehend the word usage? It's as applicable as the Titanic crew claiming they are "merely transitioning to a lower depth"
Americans need them to Stop what they are legislating. Not transition to anything on their wish lists of socialism hell.
actually, might depend on their age as well.
If they are close to retirement...they might be thinking they do not have years to gain it all back.
Lots of boomers in the market and the overall economic feeling is not good.
Here in LA gas prices are SKYROCKETING again, heck they were NEVER down to begin with
That’s no doubt how Sideshow Bob’s black lesbian twin will spin it tomorrow
And I think it’s now lower than it was when he took office.
Well, that's Biden, everything he does is exactly wrong.
That’s what McConnell, Graham and others would like us to think.
And this isn’t being caused by Covid, or the mortgage market collapse - this is 100% Joe Biden.
During the "scary times" of the 1987 crash, the 2000-2002 Y2K/Dot.com crash and the 2008 wipeout (DJIA lost 35% that year!), I rarely even checked my statements. I just kept contributing to the 401k and left things allocated as they were. Each and every time, the markets came back to reach new heights.
Now that I'm near retirement, I'm forced to run a net worth on myself every month so it's been depressing seeing the balance down YOY by a six figure amount. But I'm holding strong. If in the highly unlikely event the market does crash to zero, I will be in the same boat as everybody else. Having retirement accounts decimated will be the least of our worries if that happens.
The plan to eliminate the middle class is progressing nicely. Klaus Schwab can really get things done.
Quote: “That’s what McConnell, Graham and others would like us to think.”
Yes, curious how Graham’s abortion bill is pushed now, not that it matters anymore.
> Very bad day. Selling intensifying.
For those that are long.
For others, it’s a return to more rational values and a coming cleansing of zombie companies that were living off of borrowing.
It could be viewed as a buying opportunity.
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