What does your post have to do with the post you quoted? Millions of Americans have very little or no money in the market.
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CNBC: Stock market being halted for 15 min to combat dramatic 7% plunge of stocks, DOW and S&P 500
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What does your post have to do with the post you quoted? Millions of Americans have very little or no money in the market.
Why Trump’s Coronavirus Response Continues to Cause Concerns
With a pandemic looming, there are signs the Trump administration is improvising much of its strategy as it faces what may be its biggest crisis yet.
nymag.com
In May 2018, Trump ordered the NSC's entire global health security unit shut down, calling for reassignment of Rear Adm. Timothy Ziemer and dissolution of his team inside the agency. The month before, then-White House National Security Advisor John Bolton pressured Ziemer's DHS counterpart, Tom Bossert, to resign along with his team. Neither the NSC nor DHS epidemic teams have been replaced. The global health section of the CDC was so drastically cut in 2018 that much of its staff was laid off and the number of countries it was working in was reduced from 49 to merely 10. Meanwhile, throughout 2018, the U.S. Agency for International Development and its director, Mark Green, came repeatedly under fire from both the White House and Secretary of State Mike Pompeo. And though Congress has so far managed to block Trump administration plans to cut the U.S. Public Health Service Commissioned Corps by 40 percent, the disease-fighting cadres have steadily eroded as retiring officers go unreplaced.
Exactly. I don't want a full recession or total market collapse due to how it will affect people's retirement savings, but I want the market to keep getting worse in the short term to tank Trump's reelection.
When a company loses money, it usually axes workers first. I mean they already fire people simply to make more money
Weren't you the one literally 'lol'ing at the prospect of a prolonged recession due to COVID-19?
Tell me, since you're clearly an expert, what is it that the rest of us are missing?
You know. So we can be as financially literate as you are.
While that is true and I hate how people try to associate economy as being the result of the president 100% and immediately:
1. Trump keeps denying the spread of coronavirus in the United States
2. Trump is denying the validity of the stock market drop, literally calling it fake news.
3. Trump is muddying communication and handling of health resources for pandemics.
4. Trump pressured the Federal reserve to keep rates low during economic growth (before the recent cut, should have been higher) to score political points for stock market performance. Low rates over time creates malinvestment - businesses that shouldn't be viable that are viable that will result in a large bubble burst the next recession - hey that's now.
5. Malinvestment from tariffs. So many fields of corn were abandoned in east Texas last year and left to rot due to tariffs. Now those farms are switching to other commodities that won't be as profitable when the tariffs are removed.
6. This event is highly emotion driven. With Trump's shitty handling of it and outright denial, emotions will be more heated and people will oversell causing more lasting damage that will take years to recover from.
the market would have needed correction from it's wild bull run either way
this is just forcing people's hand more aggressively then was expected
A person will die no matter what.
But a person who doesn't take care of themselves, over eats, doesn't exercise, and drinks all the time will probably die earlier and have a worse life.
Such is the economy with an incompetent person in charge.
Dumb take. It's not numbers on a screen, it's a ton of people's retirement and a ton of companies ability to run/hire people.
I didn't see any mention of how this will effect anyone other than the rich will be fine.
This stuff isn't taught in school and unless you know someone into this stuff, the term "stock market" is a fuzzy thing that doesn't mean much to many people.
The issue is that if you cut 10% of a rich person's wealth, they still have a fuckton of money and will still justify cutting jobs and businesses to re-coup their losses.
If you cut a middle-class or poor person's retirement/investment wealth by 10%, it could hurt them way more.
A stock crash will hurt just as many.
looking forward to trump's fed stooges panicking and cutting interest rates to zero thereby setting the economy on fire
Well... Logic dictates that this is going to have downstream effects.
Let's take the cruise industry, for example. Stock crumbles, people don't book cruises, Carnival is forced to layoff workers. Same with airlines.
People are too afraid to go to restaurants (this is happening as we speak to Chinese food joints... Which is incredibly naive and racist, but here we are), restaurant closes or lays off workers.
Schools are closed for a month to deal with crisis. Parent has to take off work for that month with no income. Household defaults on mortgage/car payment/etc.
There are about a million downstream effects of the virus in this country and we are not prepared to deal with any of them. We have not even come close to seeing the worst of it.
Edit:
Lol. The free market is a delusion. Plunge protection team at it.
These things are not mutually exclusive. There is no indication that focusing on treatment would bring the market down. In fact, it's the opposite. One of a few factors for the crash is exactly due to the nonexistent response from this administration.
Almost like it's a shady practice to effectively force peoples retirements to a volatile, artificially propped up market metrics. But hey, it USUALLY works, right?
Well, no. Historically, it always does. There is data to back this up.
Can the market dip just as you're ready to retire? Absolutely, which is why most funds shift over automatically to less risk averse bonds as we age. When the hit does come, you'll be better positioned to weather the hit.
But seen as a continuum since the inception of the market, the investor always wins.
House prices typically go up when interest rates go down, so be prepared.
Hopefully I can snag a fantastic rate either way. Prices in Nashville are inflated. A recession isn't going to increase them when less people will be moving here.
Not every recession is like 2008. Again, it's possible, but I wouldn't bank on it.
Just so I'm not seen as a hit and run commenter.
1. put your retirement in something that can crash tomorrow
2. why do you need a stock market to hire people? This just shows how broken the system is.
Just put money in a locked savings account if you want sure investment.
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My takes might be dumb and from an ignorant p-o-v but that's what I really think. I fully agree with this The Intercept opinion article.
Why do you:
1. put your retirement in something that can crash tomorrow
2. why do you need a stock market to hire people? This just shows how broken the system is.
Just put money in a locked savings account if you want sure investment.
Do you, at least, agree that it's unfair? The system is so broken. Unless a company is completely broke, no company should be able to fire people because they have less income from a volatile investment.
Let's just agree that Trump is incomptent.
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My takes might be dumb and from an ignorant p-o-v but that's what I really think. I fully agree with this The Intercept opinion article.
Yeah I have no idea why people are suggesting house prices will plummet. 2008 was a special case.
He made himself to be the Economy Man, the one thing that has normalized all of his atrocities. It's been frustrating to hear the amount of vile fucking vulture people justify all of Trump's misdeeds with remarks like "but your 401k though!" Looks like the past few days have been a period where if you repeat that remark to said vultures, they turn into living salt.
I hope this leads to a lasting impression on him. This will be what will be held accountable to him, of all things. Just think about how awful this country really is for this to be the reality, that people were comfortable with child separation, which is labeled as a form of torture, now only turning on him because of a pandemic, which you can argue isn't even his fault. What is his fault is the manipulation of it all.
Perhaps a silly question, so crazy trades big price changes -> auto lock on trades for a period of time :
How does this help? Surely nothing really changes and peoples intentions stay the same?
How do you actually stop a trade ? Is it just a legal thing?
How does this help? Surely nothing really changes and peoples intentions stay the same?
How do you actually stop a trade ? Is it just a legal thing?
I think it's more for the system to take a breather. So order books can get refilled and what not.
Well what we replied to was you claiming that it would be fine for the stock market to crash as long as we took care of the Coronavirus which:
a. isn't going to happen, the Coronavirus is already out of containment and will be an issue for the foreseeable future.
b. is only one part of the future knock-on effects it's going to have on most major industries (restaurants, tourism, healthcare, etc.) and the American people who lose their jobs because of these effects.
A few other notes:
- Money locked in a savings account is losing value or breaking even depending on the inflation rate.
- The system certainly isn't perfect and I doubt you would find anyone out there claiming it is, there are more controls that need to be put into place to even out effects and to make sure more people are protected from fluctuations and the actions companies take during downturns. There are markets that should be socialized like healthcare.
- Reading The Intercept article there is basically saying that we need to crash the markets to benefit the working class, but until we get the protections needed in my last point, the stock market crashing is only going to hurt the working class more, not less. It is basically trying to say that if we hadn't been navel-gazing at the stock market and capitalism for the past three decades and had been focused on building universal healthcare and other current progressive issues we would be in a better spot, which is obviously true... but at this point, pointing it out doesn't really help us until we can get more progressive leaders and members of congress.
Oh boy. Ok.
1. If you put you money in a savings account that account is insured at a max of $250,000. You'll likely need more than that for retirement.
2. Most employers and tax systems are built to enable you to invest money in the market. You lose a lot of money, tax breaks, the option for employer matches, etc. if you don't.
3. Compound interest is how most people will make it to retirement. Putting money into a savings account (again that isn't insured past $250k), isn't really a viable path to retirement.
4. Many employees get a portion of their payment or benefits as stocks.
5. Stocks aren't just imaginary. It's the money that business that are public have to utilize their function. If the stock crashes, the company can't appropriately leverage their debts and they will lay people off and cut benefits.
6. The system is definitely broken, but having a stock market to hire people is not how it works at all.
7. Billionaires will be affected by the stock market changes, but not to the degree you think. It will hurt your average joe, because when profits are threatened, they will cut his hours, not give him healthcare, and pay a 20 year old to do his job for 1/3 as much and fire him when he coughs.
I just want to express how much I love that political cartoons and/or commentary include stuff like this.
