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DJIA approaching 28K
msn.com ^ | 9/26/2022 | msn money

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 ...


TOPICS: Business/Economy
KEYWORDS: bideneffect; djia; stockmarket
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To: SamAdams76

Wow!
That is a tragic story for you MIL.
The market (under normal conditions) always comes back and with a vengeance.

My MIL is going to have to go back to work to make ends meet. She’s 75. I know she’s not the only one in that scenario.


81 posted on 09/26/2022 12:29:36 PM PDT by Roman_War_Criminal (Jesus + Something = Nothing ; Jesus + Nothing = Everything )
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To: SamAdams76

>A lot of people at my work are converting their 401k’s out of stocks.

That’ll explain the dump today right there.

I think my DRIP stuff paid today so it’s buying more at this price point.


82 posted on 09/26/2022 12:33:33 PM PDT by No.6
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To: 1Old Pro
Yep, I think I'll take some money out of the market and invest it in the only thing going up = a new car :)
If you're choosing an auto as an investment, it shouild probably be an electric car. /s
83 posted on 09/26/2022 12:42:07 PM PDT by citizen (Thieves of private property pass their lives in chains; thieves of public prop. in riches and luxury)
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To: Billthedrill

To retirees, and seniors near retiremwnt it is. Yer another great reason to keep Congress and the Senate, Congress and governors mansions filled with Democrat, New Reset, Communist, Pigs.


84 posted on 09/26/2022 12:57:36 PM PDT by epluribus_2
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To: Signalman

time to break out my old 28K hat again... woo hoo... i thought i would only get to wear it once.


85 posted on 09/26/2022 1:25:02 PM PDT by teeman8r (Armageddon won't be pretty, but it's not like it's the end of the world or something )
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To: teeman8r
time to break out my old 28K hat again... woo hoo... i thought i would only get to wear it once.

I'll break out by DOW 10K license plates.

86 posted on 09/26/2022 1:26:06 PM PDT by 1Old Pro
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To: 1Old Pro

soon... don’t rush it too much...

let biden enjoy his accomplishments.


87 posted on 09/26/2022 1:30:40 PM PDT by teeman8r (Armageddon won't be pretty, but it's not like it's the end of the world or something )
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To: mikelets456

Regular gasoline up $0.60 / gallon here overnight; near $5 again.


88 posted on 09/26/2022 1:40:09 PM PDT by steve86 (Prophecies of Maelmhaedhoc O'Morgair (Latin form: Malachy))
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To: Roman_War_Criminal

How do you know the real buying opportunity isn’t 20,000 points lower?


89 posted on 09/26/2022 1:42:27 PM PDT by steve86 (Prophecies of Maelmhaedhoc O'Morgair (Latin form: Malachy))
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To: SamAdams76

“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.”

True, true. There’s a bottom... and it’s likely well above zero. For the market to go to zero, we’d have to be in a situation of all-out nuclear war or something equally horrific.

But barring armageddon, zero simply ain’t happening. There are certain companies in the Dow 30 right now that are darned near indestructible. Like Coca-Cola, McDonald’s, Apple, Visa, etc. How bad would the world economy have to get to put any of those completely out of business? Oh, sure, a haircut of 50% or more is within the realm of possibility, but total failure? No, it ain’t happening.


90 posted on 09/26/2022 2:05:08 PM PDT by irishjuggler
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To: irishjuggler
I agree with your statements by the way.

When I say "if the market goes to zero, it will be the least of our problems", it's to illustrate the unlikeliness of that ever happening.

Another thing to consider is that just 13 years ago (2009), the Dow Jones had an average closing of just under 9,000.

Since then, the Dow Jones has more than tripled and even after this year's bloodbath, it still stands triple what it was just 13 years ago. Even if it drops 10,000 more points, it will still be double what it was in 2009.

What if I went back in time to 2009 and told you all that the Dow Jones would double over the next 13 years. Most of us would be pretty happy with those results.

91 posted on 09/26/2022 2:37:04 PM PDT by SamAdams76 (4,112,487 users on Truth Social)
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To: irishjuggler
If you're in your 30s to 40s, and making monthly payments into your 401K, there's no need to make a change. You can't take any losses off on your taxes, and there's likely to be dividends and capital gain distributions as well.

I lived through Black Monday in October 1987, as a stockbroker for now defunct EF Hutton. Prompted me to reconsider putting my accounting degree to use in a different field...lol.

92 posted on 09/26/2022 2:46:08 PM PDT by Night Hides Not (Remember the Alamo! Remember Goliad! Remember Gonzales! Come and Take It!)
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To: Pelham

That article uses Shiller P/E ratio when it suits him with carefully cut dates but traditionally metrics otherwise. S&P 500 is trading in line with historical average multiple. The shiller index assumes we are in late stages in cycle rather than end stages of recession and about to begin a new cycle - or in between.


93 posted on 09/26/2022 8:20:52 PM PDT by rb22982
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To: packagingguy

“Isn’t that the story of why Nixon finally ditched the gold standard? One of the European countries, France I believe, wanted to repatriate their gold. “

It was due to the effects of something called the Triffin Dilemma.

Basically that says that a country would have to choose between an activist foreign policy or using their money as the world’s reserve currency. We tried to do both and problems began showing up as early as the Eisenhower administration.

Choosing the dollar as the reserve currency after WWII resulted in foreign central banks wanting to hold dollar balances. They accumulated basically all that we could cover with our gold stock, meaning that we didn’t have enough dollars for our domestic economy.

We expanded anyway. This resulted in a two tier gold market throughout the 1960s, one actually reflecting the inflation that was occurring, and the other an artificial “official” rate between governments. The French were no fools and wouldn’t play along.

Keynes had warned against using the dollar as reserve currency during the Bretton Woods Conference, and suggested using a basket of currencies he called the “bancor”. Maybe if we had done that the link of the dollar and gold would have held.


94 posted on 09/26/2022 9:27:37 PM PDT by Pelham (World War III will be fought with nuclear weapons. World War IV will be fought with rocks & sticks.)
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To: rb22982

Thanks, I’m not familiar with the Shiller index other than the housing one and wouldn’t have spotted it.


95 posted on 09/26/2022 9:29:48 PM PDT by Pelham (World War III will be fought with nuclear weapons. World War IV will be fought with rocks & sticks.)
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To: DuncanWaring; SamAdams76; 1Old Pro

“After the Crash of ‘29, the Dow didn’t recover to its previous high for 25 years.”

The US money supply collapsed from 1930-1933. It shrank by one third, a massive deflation. The 1930s Fed didn’t know how to combat that. Today they’d use QE.


96 posted on 09/26/2022 9:37:59 PM PDT by Pelham (World War III will be fought with nuclear weapons. World War IV will be fought with rocks & sticks.)
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To: Signalman

Dow Jones Industrial Average

28,725.51 −500.10 (1.71%)today
Sep 30, 5:55 PM EDT

GREATEST ECONOMY EVER

More Democrat success


97 posted on 09/30/2022 11:18:40 PM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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