Rolling US Economy Into The Shitbin Thread

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

I would not feel confident I would come out ahead in that venture, this is what I pay the animated corpse of John Bogle for

or you should buy a horse and boat.

my terrible secret is that only I can stop the stock market collapse. as soon as i pull my money out, the market will bounce back up 5-10%. then, when i put my money back in, it will resume freefall

If you can weather it, now does not seem to be the time to sell, unless you're gambling that things will get much, much worse and stay that way. Which they may! But the market was also really, really inflated and overdue (as far as that goes) for some sort of correction. The best bet, for anyone nowhere near retirement, would probably be to do nothing. Or actually to take advantage of any lowered rates and refinance their home or whatever.

A good fund should be hoovering up discount stocks, though I guess any major movement in that direction would help staunch the market's fall, right?

xp, god, you have no idea how much i want to do that

so many times i have been tempted to just take all my retirement out, take the tax penalty, and cancel out my student debt, which is almost the same. then i will truly be worthless and free

i thought about my retirement account last week so i don't have to think about it now

do you have the cash to put into the account and hold it until the bottom hits? once bottom hits buy buy buy

(I have been holding my contributions in my IRA as cash for the last 5 months or so, rather than buy buy buy)

because you can't time the market

the market times YOU.

*winks knowingly*

Stop! Market time!
https://media.giphy.com/media/11rIergnpiYpvW/giphy.gif

i'm just gonna increase my contribution %