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Stock Market Watch |OT| I've stocked up on market watches, what now?
- Thread starter Mr.Awesome
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Trump, being the idiot he is, doesn't realize that by removing the national emergency mandate, it starts giving employers reason to 'go back to work' to try & force a form of economic normalcy, which will then force people to either work or be let go, and on top of all that, spreads the virus to even greater numbers.
Making people choose between a safety & a virus/paycheck, with the risk of being laid off anyway, is some top-tier politicking from Trump.
yeah it wont work. the truth is goverment bailout or no, our econamy is going to look very difrent after this is done. amazon is planning to hire a insane amount of workers (100k) best buy and other stores are shifting to curbside pickup on and on it goes. anyone who thinks a ruturn to pre pandemic set up is nuts.
Does it make sense to lower my 401k contribution? I'm currently contributing well above my employer match. Not sure if it's safer just to have more of my paycheck going into my bank account for now.
I was having this thought earlier tonight of ramping down my contributions to just match and (which may take 2 pay cycles to kick in) and then set back to above normal levels (to max out) sometime in June depending on how things go. But this is exactly would timing the market is...
I'm waiting on contributing to my Roth IRA until the market some what stabilizes - it doesn't have to be at the very bottom. For now, everything is going into emergency savings. Not including my ROTH accounts I'm at 5 months worth of savings and could push this to over 6 if I could get a pause on student loan payments. Would rather keep boosting this up over the couple of months and start DCAing over the stocks I'm after.
I'm in a position where I don't think a layoff is likely, but if I was, I should be able to find work elsewhere with my experience.
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No.
30 % unemployment possibility sends alarm bells off everywhere.
wouldn't that only be true if you are sure you will keep your job?
The market is likely to continue trending downward for a while and if you lose your job and have to pull from the 401k to cover your costs wouldn't you likely lose a lot then (both from the market going down and fees for pulling money out of your 401k early)?
You really should have an emergency fund to dip into before increasing 401k contributions. Question is, how months of expenses is prudent in a recession (or possible depression)? 6? 12? 18?
I currently have over a year's salary liquid. So I can live off savings for a while if worst comes to worst (hence why I bumped my 401k contribution way up about a month ago).
Very true. I know I personally keep a decent emergency fund around but I know not everyone does.
ah in that case go with jstevenson's advice. The market will likely go down more but it will eventually recover. You could put less into your 401k and try to time the market, but in the long run it won't make a huge difference, and it will just stress you out. Besides, we can't be sure where the bottom is (Aside from given the current situation it is likely below where it currently is)
This is the scenario. We're crawling down the tip of this outbreak's iceberg right now.
I'm confused by this first part. It's spreading a lot in the south of Spain where the temperature is 17C at the minimum, average around 20.
Perhaps that's still only 6% of cases, though.
Yeah, most of the planet lives hand-to-mouth, month-to-month and indeed along or beneath the poverty line. In the USA the first two are true.
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Wrong question to ask.
Will retail and mom and pop resultants survive?
Cruise lines barely employ Americans, barely pay American taxes, and output carbon up to the equivalent of 1 million cars per ship at a time.
Fuck 'em.
They're a shitty dinosaur.
Fuck 'em.
They're a shitty dinosaur.
Yeah, like I understand trying to preserve airlines as a vital element in modern society, but I cannot for the life of me understand why anyone would care if cruise liners stop being a thing.
Ain't nobody out there proposing bailouts for luxury zeppelins.
Ain't nobody out there proposing bailouts for luxury zeppelins.
Money!
And not just any old money, money which goes straight into the pockets of E.G. Trump's friends.
It's especially odd, as I imagine a large portion of the cruise industry isn't even American workers.
I mean, you didn't think this was their plan? Cos they would drive every other country to print their money too.
I've been wondering this. If everyone prints money at the same time... What would happen?
Alot of debt becomes worthless,hyper inflation risks in assets. Its not good.
Bruno Le Maire on Twitter
“Conférence téléphonique #G20 : confirmation de l’impact économique violent de la crise sanitaire sur la croissance mondiale, soutien financier aux pays en développement, préparation d’une stratégie commune de sortie de crise. #cooperationinternationale”
twitter.com
About time there was a uniform economic strategy but at least the G20 finance ministers have now agreed on this. Have to see what exactly their common strategy is.
Uncoordinated individual strategies isn't good enough in an interconnected global economy.
Of course, because debt number stays the same while the value of that number decreases. Whew.
Unlimited QE lol. Is Trump expected to speak today (to tank the market again)? I could really use one positive day haha.
That worked out pretty well for Germany! 👀
They are giving updates everyday so expect Trump to speak every day :(
Can someone explain how this would work? I mean throwing money at corporations is not going to reduce the effects of the infection on the workforce, right? So what is this doing? Just a breathless gasp of desperation to tell big companies that the US government won't let them go under?
Like this is all reactionary at this position my, and if the workforce is so devastated, how is the economy going to come roaring back in a couple of weeks?
Very basically, it's allowing financial institutions to remain liquid which insures, among other things, they can continue lending out to businesses who need that money to pay employees.
Definitely buying. I've already loaded up on AT&T and later today I'm going to load up on Southern Copper.
The reason you can just do massive deficit spending at the start of a recession is because when the velocity of money goes down, it's a gigantic reduction in the effective supply of currency. (literal amount of money out there X rate at which money is circulating = effective money supply)Thus, to maintain that supply, you pump money in the system to get the blood pressure up. But when the economy starts recovering, you have to pull that money back out to maintain parity.
So it's pretty much all over at this point? Markets will be gone soon, no one will have jobs, food supply runs out, looting/riots begin, and then the country is going to collapse? Everywhere I look all I hear is.. "it's gonna get worse".
I'll just keep averaging down at this point. If the county collapses then money won't mean anything. If we some how bounce back then I'll have something to gain for hope at retirement.
I'll just keep averaging down at this point. If the county collapses then money won't mean anything. If we some how bounce back then I'll have something to gain for hope at retirement.
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