Rolling US Economy Into The Shitbin Thread

and that's why i'm voting republican straight-ticket until i have worth, to show my committment

We have a good friend whose husband, we just found out, is a Trump supporter, based strictly on the performance of his 401k.

Isn't that good since it assumes he won't get re-elected

I have no idea, but I can easily imagine these morons backing him again *despite* an economic downturn, because "only he can fix it" or whatever bullshit they want to spout. Better dead than red, iirc.

You see, publicly-held companies must constantly wring all the profit out of their assets: not holding property as it's a depreciating liability, skimping on resources for employees to the extent that they're still able to staff essential roles, providing benefits that barely meet industry norms. Projects with long-term returns are shelved because the investors want maximum value right now.

Only 401k plans are offered for retirement, despite the guy who came up with the structure for a modern 401k plan explicitly saying they were meant to supplement pensions. No one offers pensions. Wages are relatively stagnant. So all our hopes are riding on that 401k...

..which is backed mostly by stock in publicly-held companies. So I applaud when my employer refuses to replace a broken office chair, because they're ensuring profit! And my future retirement, where I will use my 401k!

it was also a nice way to permanently make a hundred million people a defender of the late capitalism as the status quo. 100 million people have 401Ks, with more than $5 TRILLION in assets invested.

yeah, i am irritated by the people who talk about their 401ks in relation politics. But at least it's an easy way of categorizing (divorcing) them.

You see, publicly-held companies must constantly wring all the profit out of their assets

saw someone 'wonder aloud' whether bloomberg, by releasing three (of the many) women from their NDAs, had breached his fiduciary duty to bloomberg-the-company's shareholders

heck of a system brownie

I just looked up what the current companies are in the dow index and i would be quite happy to see a lot of those companies spanked.

xp jeeeesus

Low Ratings Fake News MSDNC (Comcast) & @CNN are doing everything possible to make the Caronavirus look as bad as possible, including panicking markets, if possible. Likewise their incompetent Do Nothing Democrat comrades are all talk, no action. USA in great shape! @CDCgov.....

— Donald J. Trump (@realDonaldTrump) February 26, 2020

give mr. trump's team time to message this virus thing and we'll be back in black in no time

He's not very good at being a dictator

he sucks at everything

He's is very good at eating and being an asshole. One of the best, in fact.

who would have seen this coming with the guy who bankrupted atlantic city casinos and the USFL in charge

BREAKING NEWS:

We are now in the worst stock market drop since financial crisis in 2008.

— Christina Ginn (@NBChristinaGinn) February 27, 2020

Now *that* is the kind of fear-mongering I like to see!

Doesn't seem any worse than the end of 2018 imo and that was a blip

look this crash is gonna happen anyway can we PLEASE do it during trump's term, thanks

idk I keep thinking it's gonna happen but it winds up recovering anyway. only down 250 on the day now

It really does belie the insistence by some that there are any immutable underlying rules to the behavior of the market, or that it is much more than a cobbled together system of gambling. We believe it will go down because it has spent so much time going up might apply in physics, but not so much to stocks. By low, sell high, hope it's high when you want or need to sell.

lmao its dropped 1000 points since you made that post

Lol snake eyes again!

Saw a post from the host of NPR's marketplace saying, basically, tomorrow should be something. I think Chris Hayes responded with why? And he clarified that sustained losses and uncertainty are not a good thing to go into the weekend with.

the only immutable rule I know that governs the behavior of the equities market is that it is ultimately driven by a mixture of greed and fear. lots of filters get placed on those two conflicting emotions, but they can't remove greed and fear, and nothing else can replace those two as the ultimate drivers of equities market behavior.

kind of like gambling!

am I the most dark & twisted psycho god online?? hm lets see:
- When the dow jones industrial average goes down i say simply the word "Good"

— wint (@dril) August 17, 2015

https://media.foxbusiness.com/BrightCove/854081161001/201801/2550/854081161001_5703135051001_5703128467001-vs.jpg

Tuchman!

Look out below!

NBC News reports:

The stock market cratered again on Friday, marking the seventh day of a massive sell-off sparked by rising fears about the coronavirus epidemic. The Dow Jones Industrial Average plunged by 1000 points at the opening bell, with the S&P 500 and the Nasdaq each falling by 3 percent.

Good time for me to catch up on my Roth limit from last year

STOCK MARKET AT ALL-TIME HIGH! HOW ARE YOUR 401K’S DOING? 70%, 80%, 90% up? Only 50% up! What are you doing wrong?

— Donald J. Trump (@realDonaldTrump) January 9, 2020

mines up -22% this year in fact

not rooting for a crash but this "correction" appears to be the first thing to shut up conservative nation since 2scoops "won"

in retrospect maybe using the Dow Jones as the single metric of your success was a bad idea

My sense is the only thing that will stop this slide is convincing proof from the Trump administration that there is a well organized and serious response to Corinavirus. So far, they've utterly failed, so I expect quite a bit more wealth destruction.

he's just gonna have to get outta bed, sniff a line of Sudafed, and tell the nation he caused this crash on purpose

My fellow Americans, every day the buying opportunities are getting better and better. Victory!

the President makes such things possible

how do you do, fellow job-creators

i've lost 15% of my retirement now

I’m just not going to look at my 401k.

LOL "retirement"

If you wanted to retire, you should have picked a different country to be born in.

you really shouldn't think about retirement accounts more than once a year or so anyway

ok, i am going to make a note to think about it again on feb 28, 2021

but it seems silly to leave money 100% invested in stocks right now, when the market is in a free fall and things are bound to be stagnant or worse for months

NFLX is still boomin’

if you manage your own asset allocation and now have a higher or lower proportion of your net worth in stocks vs bonds than you are targeting due to significant market movement you should rebalance but it's easier to move stuff into a Vanguard fund that does the balancing for you. There's no point in any action but that.

i think the only dow stock i had was nike and i sold that week.

i manage it myself, and i can move it once a day (before noon EST, effective next business day). my thought is to put it 75% bonds/25% small cap until the overall picture looks a little less completely fucked

that's pretty drastic, you're not even 40

i mean to shift it that way for a few days to a week, then put it back to 100% stock