While a agree with Trumps actions here. It is going to be painful for our 401k accounts. I’ve lost 25% of the gains I have made this year already this week. I have painful memories of being up 11% in October of 2018 only to be down 1% for the year in December. I hope that does not happen again. Then again, I don’t need to access my 401k until about 2023. So should be recovered by then, provided we don’t elect another obama.
No one cares about your precious 401k.
This is about the fight for our Republic.
Well, your 401K is far more important than the future of our country...
There is nothing China sends us that doesn’t have an alternative supplier: clothing, junk, appliances, etc. There are a host of countries producing the same things and very cheaply. When the market is that elastic, then there’s really not that great a risk.
There is nothing we sell to China that cannot be sold to another buyer or cannot be changed. Soybeans, for example, are bought each year at X amount. There is still a market for X amount, and if China gets theirs from Argentina instead of the US, then whoever used to buy the Argentina beans will be looking for beans.
Besides that, with beans down anyway, that’s an incentive to produce more corn, wheat, barley, oats, etc.
We are not over any kind of barrel.
And as the president says, he can buy the excess from our farmers with the tariff money he’s getting from China and ship the stuff off to starving nations. Who pays? China pays. Trump is a very smart man.
“I hope that does not happen again. Then again, I don’t need to access my 401k until about 2023. So should be recovered by then, provided we don’t elect another 0bama.”
Not to pile on, but if we’ve learned ANYTHING from those miserable 8 YEARS of 0bama, it’s that diversity in your investments will save your butt.
Always live BELOW your means from the minute you start working for others or yourself. 401K with employer match (free money!), and an IRA & Precious Metals. Paid-for Land. Paid for house. Paid for vehicles. No debt. Have the mindset that it’s a GAME and YOU are going to win it!
Pretty much nothing but another world-wide Depression can harm you...and even THEN you’ll have all of the above, while others fail. Then, you buy up THEIR stuff on the cheap, LOL! (My Grandpa did that during the Depression, while he worked three jobs and raised his family and supported his busted FIL.)
When the markets tanked in 2008, all the Libs I worked with at the time never ONCE blamed 0bama and his STUPID @ss-backwards, Hate-America policies. Not. Once!
Some of them are still complaining about all the $ they lost, but they STILL can’t see the Forest for President Trump. MAGA! :)