Stock market is getting pounded like your ass at gay Mardi Gras

Is this a buying opportunity?

no idea - I'm the biggest chicken shit investor ever. I just leave it all in cash and watch as inflation eats it away, recently.

I think it formed a huge bubble when that pig trump was president. The market took that to mean the govt was “pro business,” meaning its fine to make toxic products, treat your workers like slaves, cheat customers, etc.

There’s a correction in progress.

It's the "I Got My Ass Pounded At Gay Mardi Gras" troll. If you pay enough $ OP, anybody will do anything to you. If you used a credit card I hope you got air miles.

We do need a troll like that, Z-W lol

Doesn't make me sad. Just another day for Casino Crapitralism. Sometimes even the dealer losses. Don't worry the FED will promise the losers your future tax money and fix it. OH BUT THATS RIGHT I DON'T UNDERSTAND THE SYSTEM.

That's correct. You don't understand the system. I'd try to explain it to you, but you'd only screw your face up into a depreciating moue and pout all night.

BLEED!

I think it's got a long way to drop yet. Thed is tightening and interest rates are rising. Don't fight the Fed.

r9: "Don't fight the Fed."

And ....

Hmm, uh, not sure a lot about these things. BUTTT, since this is an internet forum and nobody here is --- I'll give it a shot. I'm guessing this is a shockwave from the invasion of Ukraine. The conflict is causing global uncertainty which discourages risky investments. Also around this time two years ago, we had a lot of civil unrest. Partially because high schools and universities were out for the summer and young people had time to protest. Bitcoin and other cryptocurrencies are becoming more desperate with marketing and advertising, this makes me worried that it will crash and a lot of people with skin in the speculation are going to get burned which will further discourage investing. IDK, it feels like something bad and life-altering is going to arrive any day now, something that will make covid look like the good old days. With covid and now the UN and EU's failed actions in preventing and smothering war and human anguish, people are grappling with the promises of globalization.

I only feel sorry for people who wanted to retire early and now need to wait out a little longer for the market to recover. It sucks.

R11 Meme traders were bound to get ripped a new asshole. Same with crypto and NFT cultists. They were being played and were told so again and again. Most of them doubled down. *Kanye shrug*

Millennials and Datalounge eldergays are obsessed with the Stock Market.

It's pretty important to everyone who has a 401k, R14. It's not just the robber barons who are interested. God willing you'll have some wealth you want to protect as you go on in life.

R6 also wants the government to pay off the loans she’s too big a lazy loser to relay herself.

This too shall pass. Keep your money where it is. This is a correction after an unbelievable nutty 2 years.

[quote] It's pretty important to everyone who has a 401k, [R14]. It's not just the robber barons who are interested. God willing you'll have some wealth you want to protect as you go on in life.

Unless you are retiring in the next 2 years, you will be fine.

My portfolio has been so bloody for the past few months, I've considered buying some Playtex shares in a desperate attempt to stop the bleeding.

^^^ Lol !

I lost my job and now have no health insurance and a rectal prolapse. I can push it back in now, but worry that it will get worse.

Let us pray.

Praying!!! For a further collapse.

Shopping trip for growth funds and ETFs this weekend!

Whenever there's talk about increasing interest rates, it seems to bring the market into a tailspin. I remember, a couple of years ago, it was the same thing. Interest rates were increasing...even by a quarter percent...and the market had huge drops. I think this was in December a few years back. It was crazy...and scary. I'm trying to put my blinders on and ride it out. It's always a rollercoaster.

interest rates should never have gotten as low as trump took them. No reason to do so.

When Covid came, there was no where to drop the rates because trump pushed them so low.

So now we have to go back up when we could be lowering or staying the same.

Thanks for nothing, republicans.

It’s temporary. The market will pick up again in the 3rd quarter.

Interest rates have been low since the Great Recession, right? Can someone confirm that? I think where they were was pretty good. It gave us room to adjust if needed as well as being low enough for loans that help business expand and people buy homes (housing prices are a different matter). Dump took them to zero because he has loans up the wazoo. They shouldn’t be that low, it actually isn’t good for the economy, but raising them to pre-Covid levels would be good.

I remember, back in the 80s, interest rates for mortgages were in the teens...14% up to 16%. I can't imagine paying those rates. But then, you got good returns on your savings accounts, CDs and investments.

That is the frustrating thing @R29

Inflation is 7-10%, yet the rate on my savings account is 0.6%. I like doing the I Bonds but those are only good for up to $10k. Thus I have no risk-free way to remotely keep up with inflation

People freak out these days about interest rates. A lot of people have high debt, such as credit cards, loans and APR mortgages. Any rate that's raised makes it harder to pay...with many people living from paycheck to paycheck. They are barely treading water.

Dow is down over 700 points!!!!!!!!!!!!!!!!

If I go to Mardi Gras, I can get my ass pounded THAT hard?

Yowsah.

If you look at the historical charts, go back at least to 1950, you'll see that we have been inflating an enormous bubble since the 80s. And now the computers stop trading when panics start. It would take months of carnage to give us any sort of real loss in value from this ridiculous market.

And especially so considering that most 2% dips in the market are followed up by 2% gains the next day.

Rivian is to blame! Uh, no Rivian will recover. Amazon will not because it's just an overpriced GoPuff

It’s just a reaction to the change in interest rates, the stock market is the ultimate drama queen.

It will correct itself in due time.

We’re back to the 2008 real estate bubble market folks. Bend over and kiss your ass goodbye! Perhaps a nuclear global disaster right now would be a godsend. You heard it hear first, just remember that.

I'm looking to buy some more ETFs today...even just a little, to pad my portfolio.

I hope the real estate market tanks big time, rents need to come down!

yes, but the market is going down even more...

Amazon will recover. It may just take a couple of quarters.

Bubble explodes! Praise God, it’s about fucking time!

Real estate bubble, that is. Like black gold…Texas tea….

I wonder who the Fed will throw money out to this time? Maybe they’ll go back to ‘ye ole discount window’ where big banks can borrow money from the Fed at 0% and turn around and lend the money out to us poor Plebes for the amazing discount loan rate of 3%!

Works out like a charm every fucking time!

I want the real estate to crash!

Bubbles up in the air...bubbles, bubbles everywhere...lol

I just saw a network crawl….. Dow DOWN 1,000, NASD WORSE day this year. Is the coming recession going to be worse than expected?

I don’t think it necessarily portends a recession. It’s probably an overreaction to interest rates going up half a point.

If you were coming into a bit of money right now that you don't need for awhile, but don't want to lose, where would you put it, aside from I bonds? Index funds?

My mussy is RAW!

It may not be a surprise to see the market surge back to slightly above yesterday or only slightly below.

What the hell is happening? Yesterday, the stock market was up 900-plus points. Now today it has reversed course and is down 1,000-plus points.

GURL DOWN!

R53, there are multiple things going on. Dow Jones is not a great indicator. Look instead at S&P 500 for a better view of the broader market. It seems roughly where it was a year ago.

Ouch!!

Dems better get something done NOW while they control all three. Midterms will be a massacre.

You can chop your fetus up at 8 months and 29 days so you'll vote for us?

[quote] It’s probably an overreaction to interest rates going up half a point.

It's more than that, the Fed is now in quantitative tightening, plus covid is still spreading and causing disruptions and there is the war in Ukraine. Many believe the Fed is way behind the curve as inflation has been rising consistently for at least a year.

The astronomical rise in the stock market in the last two years is due to the Fed setting the inter-bank lending rate to zero and pumping an incredible about of money into the economy. All that is now being reversed. In other words, the market was artificially propped up.

Pull up a chart of the S&P going back at least two years and see that we are just scratching the surface in erasing the recent gains.

So we're fucked?!

They stopped calling them bailouts awhile ago. If we ARE fucked, who knows how they will spin it.

I don’t buy that, r59… I think the war and sanctions s are creating incredible pressure on the markets.

Like barb’s mom used to say in her thick German accent “Barbara is grounded like a bitch”.

I think everyone is shitting their pants because they read news on their phones too much and have no perspective at all.

This drop is a good thing. It just means you can buy more shares.

The stock market constantly goes up and down. If you dollar cost average then you won’t be constantly worrying about the ups and downs.

Over 1000 today

I've been reading "Ways and Means" about how Lincoln financed the Civil War and conservatives failed to finance the Confederacy and resisted it in the US. Conservatives are ignorant morons who should never be trusted with an economy.

And they are literally the same morons today making the same arguments as in 1861

R1 No.

I bought most of my stocks in April / May 2020.

It is not Covid tanking level which was incredible. I bought Disney for like $40 bucks a share. Right now it’s $112 a share.

If Disney dropped again, I’d buy it but not at the price it is now.

R65 Exactly! I’d love the market to crash. I went in too late during the Covid crash I should have bought like the few weeks before I did. I still got a lot of money in stocks for it but man some amazing stocks were soooo cheap. I bought as much as I could but not enough in actual shares.

If the market crashes crazy again I’m going to invest way more next time around.

[quote]It is not Covid tanking level which was incredible. I bought Disney for like $40 bucks a share. Right now it’s $112 a share. If Disney dropped again, I’d buy it but not at the price it is now.

You did not buy Disney stock for $40 anytime in the last decade.

[quote] Dems better get something done NOW while they control all three.

Ha ha ha ha ha!

I think it’s hard to reverse the fear factor now that it’s settled in. The 0% interest rates the government has been using for years was a dangerous game. Like the huge tax breaks that Trump gave when the economy was booming. The short term thinking /greed that dictated government policy is a weakness of democracy. Basically it was like handing out money for votes. At some point the bill comes due.

The short term thinking is a feature of the speculative frenzy itself, R74.

down further today...................cry!

Wake me when the S&P sinks below 3850. That'll be a true 'bear market'. That's when things start to get interesting.

YES, anytime the market falls 500 pts or more...it's "buying time". Use Common sense buying& get a financial analyst you trust!! You have to look for deals, right now my clients are not sweating the"bump in the road".

but... but... Bitcoin?!

I bought the dip the last week - and lost another 10%+ on it. This is not the bottom. I haven’t lost money in years - we are in for a long slide down. Hold onto cash.

I agree, R81

We need a separate currency for people who don't want to speculate but just want to have what they have. Capitalist can't stand it when they can't have a chance at somebody else's wealth.

[quote]Hold onto cash.

And hope that someday banks will pay more than the current average of 0.06% interest on savings accounts.

[quote]Wake me when the S&P sinks below 3850.

3991 right now.

Today alone my portfolio dropped 2.37%. In time I'll get it back but it's nasty right now.

[quote]but... but... Bitcoin?!

"Bitcoin is off nearly 55% from its November peak, and 40% of holders are now underwater on their investments."

^ yes.

Pity the poor suckers who bought into that ETF. They've lost over half their investment.

I'm Lovin' It!

The end is nigh. Any question that the market is in a downturn - not just a dip - should now be dispelled. Pandemic boom is over.

I'm keeping my blinders firmly on...holding tight. I don't want to look at my portfolio now.

iPod:

same, i've not looked at my ira. I don't want to cry

RIP the Great Bull Market of 2009 - 2022

R91/R93's iPod:

It’s gonna get worse

^ not authenticated?!

They think it's going to keep going down. Bitcoin especially, they think it will drop below $25,000.

"Let's invest social security funds in the stock market!"

^it will. And they all follow eachother

@ R99

Well Bush proposed that in like 2004, right? It would have been a winner -- all else equal.

S&P is almost in bear market. Let’s see what happens then. Add inflation and higher rates. Not a pretty picture.

R101 It's a bad idea because the stock market is essentially gambling and social security is the last lifeline for a lot of people in the US since we don't have a good social safety net. It's better not to risk it.

It would, of course, make obscene amounts of money for billionaires regardless of the performance of the stock market, which is why W. wanted it.

[quote]We need a separate currency for people who don't want to speculate but just want to have what they have.

This. They've got everything rigged now so that you have to go WAY out on the risk curve just to *maybe* receive any return whatsoever on your savings. It's a fucking scam which will only result in even more people being robbed of their life savings when the bubble finally pops. And here we are! I opted to just stay in cash and lose money to inflation because I knew the shit would hit the fan eventually and lead to even greater losses in asset prices. Pick your poison! Real estate prices are next to come crumbling down.

The Republican creation of the stock market as a retirement vehicle is one of the most criminal corruptions of capitalism that ha a been created. It just funneled trillions to Wall Street - not for the benefit of the people, for the benefit of Wall Street and the stock market.

Take your 401K $ out of the stock market and just stick it back into the capital sum. Now. You'll thank me later.

Anyone who invested in bitcoin in the last year or so is a fool. It's going far below $10,000, if not this month, then next.

I'll try to feign optimism (naive probably)....what goes down must go up.....eventually. Don't know when though...lol.

I love when people who have no idea about business talk about the stock market. The stock market is like a queen having a big hissy fit. It purely emotional. Its reactionary. Its a carnival ride. And its easy for people to discuss at cocktail parties.

The best thing to do is leave your money where it is.

I guess a queen simile is not much sillier than the hand analogy.

[quote]Stock market is getting pounded like your ass at gay Mardi Gras

“Pounded In The Butt By The Stock Market”, sounds like a Chuck Tingle classic.

We gonna party like it's 1-9-2-9!

Bitcoin is a made up currency (not backed by any government) so its value is made up to begin with.

*goldbug

Wait it out as I’ve done for 35 years- up down up down but over time: UP. Anyone who invests in equity and debt (bonds) short term is on the wrong track. Only do that with money you can afford to lose.

The entire point of crypto is decentralization of the financial system, r114. Being unstable comes with the territory of raising a proverbial middle finger to the central banks that have, frankly, been existing on borrowed time (no pun intended) since Nixon nixed the Gold Standard.

Stock futures are up

You’d think with Equities and Crypto going down, shorters will get margin calls and some stocks will squeeze. Or can (institutional) shorters circumvent this quagmire one way or another?

r119 I'm pretty sure institutional shorters have been traumatized into treading more cautiously, now, thanks to this fine gentleman. They don't want to overplay their hand. The market of today is not what they've been used to dealing with for the past few decades.

Wake me up when the DOW falls below 18,000. Then I *may* start buying. We'll see how it goes.

R117, the entire point of the crypto insanity is thinking that any sort of decentralization will ever happen to the financial system.

There, I fixed it for you.

Yes, Bitcoin is predicated on the LACK of need for sovereign governments. It's techno-libertarian.

When I see Elon Musk or Jack Dorsey buying a loaf of bread on Mars with Bitcoin, I'll be a believer.

Bitcoin is Beanie Babies for Gen Z.

Well at least there's some GOOD news in all this, NY DLers!

Today , dead cat bounce

Suckers really! Don't be a sucker!

*Rally

A pittance today...a big drop tomorrow. I guess today (though early) is to soothe some nerves, before the fall.

Not up by much

Down now 119

[quote]I guess today (though early) is to soothe some nerves, before the fall.

It's currently down, so not much nerve-soothing going on.

DEATH DROP FOR YOUR NERVES MAWMA YASSSSSSSSSS

Well....it was fun while it lasted.

Gentle Reminder: WOMEN CAN AND ARE FUCKED IN THE ASS. It's not just gay men. Sorry, darling OP, but it's true. Men can get that from a woman. You don't need a prostate to enjoy it, ICYMI I have no doubt. Ass "pounding" isn't a gay issue: it is a human sexuality issue.

One of the crypto fanboys I'm friends with on FB is freaking out lol. My how quickly their tunes have changed! Many chirrens 'bout to learn their first lesson in asset bubbles! I'm beaming ear-to-ear.

CPI out tomorrow and PPI Thurs. That may trigger a reaction up or diwn.

HODL !

[quote]One of the crypto fanboys I'm friends with on FB is freaking out lol.

Your friend must be new to the game. Lots of crypto newbies have hopped onboard a train without any real understanding of how it works because it's become more mainstream, now. Those of us who have been in it for a while are, frankly, used to this.

I looked at my IRA and 401k today...

Ominous time

[quote] Ominous time

What? Me worry?

Lol. r142

Bump

This was inevitable. The market's had a good run but we've been riding the high for way too long, especially thanks to Trump's tax cuts. It's either this or hyperinflation.

Yep. The "ominous times" were on the way up. What we're experiencing now is simply reversion to the mean. The bigger the bubble, the bigger the bust!

R139 so you're saying people should stay out of crypto because it's now a boys' club and just as complex as the stock market with 1000x more volatility? Good advice!

It’s all psychological. The market is “worried” but then nothing bad will happen and then it will take off again. Especially if the Fed suddenly says no more interest rate hikes are needed because the market went down. Then it will rise again. I am only pissed because I bough $50K of Amazon last month before it splits, and now have to wait for it to go up again. It’s impossible to time the market.

Kill yourselves, r142/r143. Biden didn't cause this. It's fallout from the pandemic, the invasion of Ukraine, OPEC being dicks, and a long-overdue bubble breaking. He's been in office for less than a year and a half and most of this has been in the cards for a long while, some even before Trump.

I have $10K in crypto. That’s my limit. It’s either going to $1 million or $1 dollar.

What crypto, r150?

Cardano - ADA

That one is much more stable than a lot of crypto, plus you earn interest in it through staking.

It really is too bad all of this didn't happen on Trump's watch so he could take the blame for it. Although even he called the stock market a "giant bubble" prior to being elected while he was debating Hillary, and he was right about that. It was about the only thing he was right about.

[quote]Kill yourselves, [R142]/[R143].

Such a sane and stable bunch you Biden fanboys are. You're also predictable af because your go to response is habitually some vapid and witless variation of "but Trump." That is your only retort; an equally pathetic, old, White dude who is not even in office anymore. It's hilarious how you lot have these lines queued up like the low expectation having, easy to please, petulant, shit-swarming botflies that you are.

r147 I gave no financial advice. You are welcome to avoid investing in crypto. My experience with the crypto market has been mostly positive over the past several years and I'm satisfied with my own personal wealth growth with specific cryptocurrencies. YMMV.

So now that they've all crashed and burned, can we finally get rid of FAANG?

It’s a crime average Americans are being forced to gamble in the stock market to have any hope of retirement. Clearly ten again fo the past 2 years were a bubble. But it still means real pain for average Americans just looking to save for retirement. 401ks were one of the nuggets crimes of the last 50 years - huge gift to Wall Street and an excuse for business and the government to absolve itself of any responsibility for pensions or care for the elderly.

[quote] 401ks were one of the nuggets crimes of the last 50 years - huge gift to Wall Street and an excuse for business and the government to absolve itself of any responsibility for pensions or care for the elderly.

It is certainly a crime. Underpaid workers trying to survive an always-increasing cost of living also have to save and make provision for their own retirement. Economically, we are becoming a third world nation.

Well damn, now stocks are doing (yet another) afternoon swan dive and BTC about to go back under $30K too, after both being up this am. Can’t catch a break these days.

I’m hiding my stocks under my bed

It will curb inflation. When people feel poorer they stop unnecessary consumption. When investments take a nosedive like this, people definitely feel poorer.

Feel poorer? You ARE poorer!

^ Well that's what the Fed wants.

Yes it's poor peoples' fault

^ gratuitous troll post

I don't give a shit if Nancy Pelosi does a maskless striptease on the Capitol floor. I will never criticize the conduct of any Democrat again. Republicans can kill people without remorse so I will no longer care about the misconduct of Democrats.

[post redacted because linking to dailymail.co.uk clearly indicates that the poster is either a troll or an idiot (probably both, honestly.) Our advice is that you just ignore this poster but whatever you do, don't click on any link to this putrid rag.]

Stocks are the Millennial version of lotto tickets.

That’s only if they go bankrupt, which could happen if everyone tries to sell their crypto at the same time. Unlikely at the moment, but if there is a run on cash then all bets are off.

There is just so MUCH uncertainty now - war in Ukraine, supply issues, China lockdown, and instability in the US and other countries. Most Americans have less than $1,000 in savings. I expect more and more credit card and loan default. It’s probably going to be rough from here on out, except for rich but even they can’t hide.

I do think the market will continue to yo-yo up and down. This correction was way overdue.

Many "rich" people are only "rich" because of all of this cheap money which is about to come to an end. Their lifestyles are build on debt!

look out below

I don't do stocks. I do rental real estate where the money comes in each and every month. People need a roof over their heads, the rent has to be paid in full. Rental real estate investment is reliable and profitable, that will soon be my retirement income. I'm 58yo, have 14 total units thus far, long term tenants,, and a good positive cash flow each month. I always get grief when I post this, but I don't care. Stocks have never interested me...

I plan on dying penniless and in debt! Stick it to the man!!

Way to exploit 15 households for the comfort of your one, R173.

Be sure to get a maid to scrub your floor too!

The New Orleans landlord has been bragging for months now about his rental income, and every time he does, I think just one thing: "hurricanes."

A cousin who impulsively threw his savings into crypto after being inspired by meme stock mania is already starting in with the "Rigged!" bellyaching on social media. He was, of course, seduced by crypto partly because he also thinks centralized finance is rigged.

I'm not sure how many younger investors who get burned by their own greed and inexperience during this downtown will learn their lessons. The ones who are allergic to personal responsibility and keen to embrace conspiracy theories will continue falling for obvious scams orchestrated by anyone who uses the right cynical buzzwords.

[quote]The New Orleans landlord has been bragging for months now about his rental income, and every time he does, I think just one thing: "hurricanes."

I think of a friend of mine who spent a year trying to get a non-paying tenant out of one of his units, and the tenants that trash apartments on their way out. I'd rather ride the waves of the stock market than put up with that agita.

My partner owns 4 rental properties. They are reliable sources of income and heartache. Always something breaking. And, of course, the big things break when we are on a vacation 10 time zones away.

But at least you don't have to worry about being evicted so someone can refloor the kitchen or just to raise the rent 200%.

I personally cannot wait for Tesla's collapse to be complete.

Hedge funds are also using worthless bonds and crypto as collateral for their schemes. A lot of rich (and not-so rich) people not into crypto are going to lose a lot of money as well.

You mean...it wasn't different this time?

Madge went to the trouble of having her old twat scanned, so you can buy NFTs of it and be set for life.

Where's the gratitude?!

is it going down further? anyone buying?

It's been up and down and all around today. Currently down 267 points.

R173 here, all properties are fully insured, and it's not cheap, which reflects the cost of rental rates, plus high nola city taxes. As for the tenants, no real horror stories the last 10 years when I bought my first duplex. I have good tenants with good jobs, good references,, and good credit and maintain their living space, they're civilized, and I don't rent to freaks. I treat my tenants fairly, so I do not have those kinds of problems. I'm fortunate and grateful, and my rates are better than the big apartment complex outfits. Those are the facts. I don't do stocks, I like having real money in the bank account every month, and rental investment works for me.

R149, much of what's happening to the economy is not Biden's fault, but some of his policies made inflation worse. I'm old enough to remember Johnson creating social programs and fighting the Vietnam War without raising taxes. This resulted in a decade + of high inflation that made both Ford and Carter one term presidents. I voted for Biden but I have to say WTF is he thinking? Who is he listening too? His reputation is of is that of someone who thinks he's smarter than he is and shoots off his mouth too much. Kamala is a dude. I hope he's listening to someone else in the Democratic party like the much smarter Bill Clinton or Barack Obama, or else we may be stuck with the orange fascist as president again. Not excusing Biden from this mess doesn't mean Jay Powell at the Fed doesn't come in for a major portion of blame. I see him as somewhat of a yes man. He was bullied by Trump and in cahoots with the Dems on getting part of Build Back Better through. As I said I remember the 60s and 70s well. When I first read about BBB I immediately though of Lyndon Johnson and the inflation he unleased.

[quote]A cousin who [bold]impulsively threw his savings into crypto[/bold] after being inspired by meme stock mania is already starting in with the "Rigged!" bellyaching on social media. He was, of course, seduced by crypto partly because he also thinks centralized finance is rigged.

Well...that's retarded. No one with sense would advise anyone to throw their savings into crypto, let alone a damn meme stock (Jesus...these 'n00bs'). Since I started investing in crypto years ago, I've only thrown in money that I was willing to lose because I would've spent it on some bullshit, anyway (like some downloadable content for my video games, ordering out, leisure expenses, etc.).

Just because retards with money make retard investment moves with crypto, doesn't necessarily mean that the crypto market, as a whole, is a bad investment. Like any investment, you have to use common sense. Sorry about your cousin.

*meme coin

How do I short Madonna’s NFT vadge?

And where can I get more Madonna NFT vadge if I need to cover?

R190, his crypto investments were better than the alternative, which was purchasing GME near the top. A banking glitch prevented him from making that mistake.

If he doesn't sell his BTC, he'll be able to break even (or profit) eventually. With the other coins it's a crapshoot. It's not a good investment for anyone who doesn't understand the product or their own risk tolerance. What you describe is a safer way to engage with it.

I've sold and will hold until I feel things are steadying. I know, I know..I should just stick it out. But I've lost about 12% since April and need to use most of it for a new roof. Watch. A rally starts Tuesday and I'm fucked.

I'll ride it out but I don't expect much good news until we have our new president.

I've played the long game. I've waited out all the dowturns and crashes. I'm 2 years away from FTA, and am now impatient with and tired of the huge dips and spikes in the market. I've lost over half my portfolio just between March and now. I'm waiting for the market to go up again, bring a decent return back to my portfolio, then I'm cashing out. The stock market is easily manipulated by the wealthy, and it only really benefits their own multiple bank accounts. The next few years of increasing inflation and instability in the world at large will make the markets especially volatile, which will result in more market manipulation. I'm getting out hopefully while the getting out might still be good for my savings.

Question for R173/R188, aka New Orleans landlord.

My biggest fear of investing in rental properties is a. deadbeat tenants who don't pay their rent and b. deadbeat tenants who are fucking slobs and trash the place, both while they're living there and on their way out.

I truly believe most people are pigs and slobs and relish living in filth and squalor, so how do you prevent these "people" from tenants in your buildings?

[quote]Watch. A rally starts Tuesday and I'm fucked.

Buy high, sell low. Those are the rules. I, too, have ridden that glorious wave numerous times. :)

R195. You do realise the president has almost mo influence on the stock market, right?

R196. The broad market is down only about 17 percent from its peak, which is quite survivable for most people. Is there a reason why you resist diversification?

R173. Stocks provide an average 7 percent return over the long run, and don’t require maintenance, cleaning, eviction notices, etc.

[quote]How do I short Madonna’s NFT vadge?

LMFAO!

I love how we anthropomorphize buisness terms. Investor pain Sounds so awful. So much worse than normal pain.

R200 - I've got a fairly diverse selection in my small portfolio (and in my work 401k). I deliberately avoid certain industries no matter what PR push from the industry is touting. I also avoid bond markets. I'm just weary of watching my totals spike and drop, usually due to the whims of those driving the market. I don't have a whole lot there so losing over half of my portfolio in less than 3 months is harsh. Just over it.

R197: One rule for avoiding being saddled with deadbeat tenants is that you must never buy rental property in a jurisdiction where "rent control" or "rent stabilization ordinances" are the law. These local regulatory schemes are not limited to capping how much and how often landlords can raise rent. They tie the property owner's hands in dozens of other ways including Draconian regulations as to eviction. These regulatory schemes originated to keep slumlord owners of huge multi-unit buildings from exploiting and abusing poor tenants. But they've been extended to all kinds of rentals, and they are ruinous to small mom-and-pop owners of properties of four or less units. In most "rent-stabilization" schemes you can't have a contract allowing the landlord the same right as the tenant to end the rental relationship with 60 days notice. The tenant can be evicted only for "legal cause" under a handful of bright-line grounds that leave vast ground for nightmare, deadbeat tenants to wreak havoc while the landlord has no recourse.

In some rent-control jurisdictions there are certain types of rentals exempted from the rent-control laws, such as single-family-homes or properties built after a certain year, but there is a lot of agitation to make those kinds of exemptions disappear. So if you're considering rental property as an investment, do not under any circumstances get into that in an area subject to these kinds of regulatory schemes. Buy in a jurisdiction where your hands are not tied that way . . . (and then be honorable and don't exploit or abuse your tenants).

What is gonna reverse this market nosedive?

i bought msft earlier this year at 290. it's now fucking 255!

R206 It will just have to run its course. The Fed has pumped $$ into the markets like a balloon filling with helium for the past 2+ years, really massive amounts. Now they’ve stopped and the overinflated markets are deflating back to reality. And now with inflation so high investors are worried they (again Powell and the Fed) won’t be able to stop it without triggering a recession. No one knows what the bottom will be but most seem to think we’re not there yet and this thing has more room to go (down.)

How up today?

According to this crypto astrologer on Twitter, the horrible chaos will continue until May 16th, when the lunar eclipse is finished.

My Trump-Tard neighbor is a crypto freak. I swear I could hear him wailing early this morning. I’m hoping for a For Sale sign in the near future.

YAY, R211!

This aint gonna help.

The 'average' bear market lasts about 11 months and ends down ~ 30%. Absent a reversal by the Fed, which likely won't happen with 9% inflation p.a., I'm guessing this one will overshoot.

He can't afford to buy Twitter anymore with his Tesla stock imploding.

^^^^

Crash, boom, BANG!

And Ukraine isn't helping. Frankly, total sanctions on Russia, especially this year, was a mistake.

Crypto investors panic during market bloodbath: ‘I will lose my home’

and I will find it!

If you bet your home on BTC you deserve to lose it.

CRYPTO BAYBEE!!!

MSNBC’s Stephanie Ruhle has no sympathy for crypto investors

“If you lose your shirt, hope you got a six-pack,” Ruhle said.

“The 11th Hour” host, a former investment banker, also told crypto investors not to expect any government help or relief, saying they have only themselves to blame for buying the unstable currency over more traditional assets.

“Let’s remember: The entire basis of crypto is secrecy. It is decentralization. It’s ‘Don’t tread on me. I don’t want the government. I don’t want establishment,’ so this is very much a ‘Buyer beware’ [situation],” she said, in comments reported by the news site Mediaite.

Cryptocurrencies crashed Thursday after the collapse of TerraUSD, a so-called stablecoin, with bitcoin falling to a 16-month low of around $25,400. Crypto assets have also been swept up in broad selling of risky investments on worries about high inflation and rising interest rates.

Ruhle said the collapse of the crypto market is different from the 2008 recession, when large investment firms went under and needed to be bailed out by the government.

“You won’t have institutions at risk here, but millions and millions of individuals, many of whom have never invested in the markets, many of whom have borrowed to bet big in crypto, losing enormous amounts of money, so what’s going to happen?” Ruhle said.

“Are people going to turn around and say, ‘The government needs to help me. I need to be bailed out for this’?”

Sentiment is particularly fragile, as tokens supposed to be pegged to the dollar have faltered.

Bitcoin, the largest cryptocurrency by total market value, rebounded on Friday above $30,000 — still well off last November’s all-time high of $68,000.

The digital coin remains far below week-ago levels of around $40,000 and, unless there is a rebound in weekend trade, is headed for a record seventh consecutive weekly loss.

Crypto-related stocks have taken a pounding, with shares in broker Coinbase steadying overnight but still down by half in little more than a week.

[quote] “If you lose your shirt, hope you got a six-pack,” Ruhle said.

Hilarious! They'll need that six-pack for OnlyFans.

R223, the awful Stephanie Ruhle. MSNBC showed their true colors when they hired her.

I don't get why MSNBC's Democratic audience would want to watch her. They might as well just watch Fox News.

did you guys buy anything today?

a cheap piece of rentmen mussy.

I bought some more stocks when they hit the lowest point yesterday, we shall see if it holds through next Tuesday though. Avoiding memecoins like the plague for now.

Our retirement investments are automated and we've not changed anything, but I'm setting cash aside to throw into a taxable account if things get uglier. It wouldn't be anything exotic, just VTI and VXUS.

Down again today :((((((((((((((((((((((

We're still not down 20% on the S&P ... but getting closer.

*checks to see if cash is still under mattress*

Y’all must be on your period cuz you BLEEDING YASSSSSSSSS!

damm not good for tomorrow

Dow down 1150 points, wth?? Target lost 27% in a single day. Everything is down, no safe havens. Crypto still losing too. It’s ugly out there.

It's a bear market. They're never pretty.

Don't bother me with trivia, I'm busy

Everyone is bleeding out of their butt. Look away and go to your happy place.

Spanked! Spanked! Spanked!

I just wanted all of you to know I'm doing fine.

look out below

Still just a correction. The Obama Bull Marker skipped THREE traditional corrections.

^ no

the Nasdaq and Rusell 2000 are ALREADY in bear markets, and the S&P will likely be today if it closes below 3850

It was a bubble. An extremely clear bubble. Bubbles pop. Is this your first rodeo?

If this is a crash it will be another two years before it bottoms. Then we will buy.

Two years before we bottom?

Two seconds for some, R245

well you DO need to make sure you're clean down there

I can’t wait two years.

Fill me with your toxic $€€D!

My stomach is up in my throat....with these deep drops.

I have an account I fund weekly. The fund is for things like a new roof. A deck replacement. Things like that. I sold about a week ago and then I was feeling I made a mistake. Nope. Market continued to go down since I sold. Shit.

I pity all the people who bought into 401(k)s.

401(k)s were supposed to be retirement supplements for the RICH. When the got established, Big Businesses started dropping their guaranteed pension plans for mingy 401(k) contributions. Sorry, guys, we were all fucked over by Nixon.

No, that was GWB.

Sorry, it was Carter. And Reagan began dismantling the retirement guarantees and pensions we're discharged IN BANKRUPTCY.

My mom had a widow's benefit of $600 month discharged in bankruptcy and reduced to $135. I keep her alive so that those fuckers have to pay SOMETHING. She's 92.

I’ve been following the market closely since my first “crash” in 1987. It always comes back. This one might take awhile, but it will come back. Some people are looking for it to go further down so they can buy cheap.

yeah, it sucks I bought apple stock at 146 and today it's 138

Stagflation in US economy is ‘unavoidable,’ famed economist El-Erian says

The onset of debilitating stagflation within the US economy is likely “unavoidable” even if the Federal Reserve manages to avoid a full-fledged recession, famed economist Mohamed El-Erian warned on Wednesday.

El-Erian, the chief economic adviser at Allianz, indicated that stagflation would take hold despite the Fed’s plan to aggressively hike interest rates to bring down decades-high inflation that hit 8.3% in April.

“[A recession] is not unavoidable but unfortunately the probability is going up. What is unavoidable is stagflation,” El-Erian said during an appearance on Bloomberg. “We’ve seen growth coming down and we’ve seen inflation remaining high and the Fed is finally catching up to developments on the ground, but it still has some way to go.”

Stagflation is a term that refers to periods where inflation remains stubbornly high even as economic growth slows or becomes stagnant. Periods of stagflation can also include high unemployment.

El-Erian said US stocks are likely to turn even lower in the days ahead — continuing a lengthy losing streak triggered by investor fears that the Fed won’t be able to engineer a “soft landing” while raising rates.

Slowing economic growth has yet to be fully “priced in” to a market that has already experienced steady selloffs over inflation and Fed rate hikes, according to El-Erian.

The Allianz economist also took the Fed to task for its initial hesitance to tackle inflation — with Fed Chair Jerome Powell among those who once insisted the problem was transitory in nature.

El-Erian said the current rise of stagflation was “avoidable” if the Fed were quicker to act.

“Stagflation is the worst thing for central banks, especially for the Fed, because it puts its two objectives in conflict with each other.”

So far, the US job market has remained strong despite signs of an economic slowdown. The national unemployment rate is just 3.6% and employers had a record 11.5 million job openings in March.

However, inflation sapped workers’ gains during their time of high leverage by effectively erasing wage gains through higher costs for daily necessities such as food and fuel.

El-Erian has warned of higher economic risks for months, asserting in mid-March that the Russian invasion of Ukraine could exacerbate the problem and drive inflation close to 10%. At the time, he suggested the Fed had lost credibility because it was “very late” to addressing the situation.

The criticism echoed remarks made by ex-Fed Chair Ben Bernanke earlier this week.

Bernanke, who led the US economy through the Great Recession in the late 2000s, said the Fed’s slow response “was a mistake” based on misreading of key economic indicators.

First there was Herbert Hoover.

Then there was Jimmy Carter.

And now we have Joe Biden.

At least Hoover and Carter were not brain dead.

Stock market pundits are saying we’re not at a bottom yet because the declines have been ‘orderly’ and there has not been ‘capitulation.’ Apparently you have to have everyone screaming and running for the exits before it’s reached a bottom. So these daily losses will continue to grind on for who knows how long.

I went shopping today at lows and it’s still going down but I plan to hold.

More from Mr. El-Erian. Looking more and more like stagflation, which is a very nasty situation and bad for everyone. It may not all be Biden’s fault (he did throw gas on the inflation fire though) but he and the Democrats are screwed. This will continue to get worse into the midterms.

Then there was Reagan.

Then there was W.

Then there was Trump.

Each one fucked up the economy and each following Democratic President cleaned up their messes.

I think you got Reagan and Carter mixed up, R261.

Carter fucked it up, and Reagan fixed it.

Then Reagan was followed by a Rep - not a Dem.

You mean Reagan fixed it by crashing the Savings and Loans out of existence? The Reagan Recession? The explosion of the National Debt? Illegal, GASP, AMNESTY?!?!

And, I said the following Democratic President. Statement remains true.

Not a very critical reader, but a cunty reader. Go back to Olga and ask for more training in English.

You done fucked up, r263. But I helped give you correction.

You’re welcome.

You are one fucked up fuck, r264.

You fixed nothing.

Go back where people watch you drool.

Asian markets are all up and US futures are up too. Maybe we’ll get a tiny break from the relentless beatdowns tomorrow.

Just short the markets and get your losses back, bitches! Go for an inverse 2x ETF. We have a lot further to fall!

[quote]If this is a crash it will be another two years before it bottoms. Then we will buy.

Why wait two years to start planting your seeds and profiting from the situation? You can make money on the decline AND on the eventual rebound. In fact you could potentially make money faster on the collapse since markets go up slowly and tend to come down much quicker! This is the opportunity for quick profits, baby!! Short this shit and ride it down to riches!!! Take the elevator down and the escalator back up! See you bitches in Rancho Mirage.

YES! Just like my ass at Mardi Gras, it's temporary. The market goes up and down. Like a priest once told me: "You just gotta ride it!"

The bitches on this website don't have time to wait around for a rebound. They O-L-D

R270 go back to Black Twitter.

Parry around stats - but there is no question this is a bear market. What’s unique is the drip, drip, drip - no one day has been very brutal like other crashes. No question when you look at charts that the past 2 pandemic years have been a bubble almost beyond anything in history. What’s scary is things are deflating to pre-2020 levels. That doesn’t quite make sense.

The Fed acted too late. Instead of bumping up on January 1, they waited until the market was already deflating and added fuel to the fire. The housing market is coming to a screeching halt - as the cost to own that same $500k house just went up by 60%. The SAME price house costs 60% more. April May housing stats are already showing a major turnaround.

Unfortunately this will all get dumped on Biden - after Trump gave away trillions in tax cuts which everyone has forgotten.

I just want my account back up to a reasonable amount again so I can cash out and put it in savings or a Roth. Fucking Tesla is cratering my totals, and the constant instability is frustrating. I'm done.

down over 400 pts at 1:45 eastern.

Right now I am retired from what was largely considered a crappy government job that paid for shit but had decent benefits.

Can any DLer, smarter than me of course, tell me how much capital I would need to generate $36K a year, forever?

I started a Roth IRA last year and I've already lost 17% of what I put into it. I was planning to put another $7000 into it this year, but I'm just going to hold off until this bottoms out, even if it means skipping this year's contribution.

R276 - ugh, this is good info for me. Nix on the Roth IRA idea then. Just going to put it into a money market account or in an interest-bearing savings account.

Today ended in the green...+8.77 Dow....+0.57 S&P 500....whoopee. At least it wasn't a major drop.

Typically, bear markets just bleed everyone dry. People who 'buy the dips' get crushed. When everyone is 'done' with stocks, that's when the market bottoms.

We're not there yet.

R275, Google the 4% rule for retirement. If you need 36k annually, your investments should total 900k.

4% x 900k = 36k 36k divided by 4% = 900k

You can contribute to your Roth without putting the money into stocks. You can use a money market fund or something similar within the Roth and then move it into a riskier investment when you're ready.

R281, yes. You don't want to skip a year because that is one wasted year you are not contributing. And you can't make it up the next because there is a maximum you can invest in Roth IRAs each year.

[quote] I started a Roth IRA last year and I've already lost 17% of what I put into it. I was planning to put another $7000 into it this year, but I'm just going to hold off until this bottoms out, even if it means skipping this year's contribution.

Don't skip. It is still a tax-free withdrawal. Also, you're buying in at low prices that WILL go up. We have jobs and a growing economy -- it is not the Great Depression.

Agreed r283. If not for Russia’s stupid fucking war where everyone loses, we would weather the inflation storm.

Seriously, no fucking entity will win this war. (Excepting Ukraine, which hopefully will survive.)

R277...at least fund the Roth. You can invest when you feel more comfortable and things stabilize. Don't under estimate the wealth generation of tax-free growth every year. If you don't fund in a specific year, you've missed the chance to do it forever.

[quote] We have jobs and a growing economy -- it is not the Great Depression.

Yet.

Don't underestimate Joe's ability to f**k things up,' Obama has cautioned

Today

Yes, r287, most of that is from Dems who are pissed Biden hasn't waved a magic wand and fixed all these issues that he has no control over. A pointless poll except to remind everyone that Dems will be voted out of office soon, unfortunately, and the Republicans will sweep in and destroy the country. But thanks for posting that poll result to this thread about the stock market, despite its total irrelevancy.

How is this complex problem the fault of one man? There’s Congress, world events, Republicans intent on creating chaos, past actions just now surfacing.

You have to be ignorant and simplistic to place blame on just one person.

It's funny how MAGATS love to talk about Biden's approval rating but in all 4 years, Trump never even got to 50%!

Any candidate with a brain could've and should've seen this coming. Dems should've let Trump "win" and take all of the blame for what's about to come. Much of the run-up that is now running down occurred on Trump's watch.

They have outdone Herbert Hoover.

Why the market is falling 1. Youth worldwide has become much more educated and the subservient “slave” jobs of the past are being decimated. 2. There’s no more emerging third world country to conquer and take advantage of it’s resources and people. 3. There’s no more 0% government money for banks to loan out. 4. Amazon, Walmart and others underestimated how people would be able to tighten their budget. 5. The past three years, certain monopolies now have three strong competitors where there was only one (streaming entertainment) 6. Lack of compelling, “must have” new product and services (Apple) 7. The student loan debate is taking the focus off the REAL crisis- personal credit card debt that’s crippling spending.

What's funny is I've been getting bombarded with credit card offers lately with all kinds of juicy sign-up offers which I find interesting considering where we're headed here. Perhaps the funniest offer I received was from Amex just yesterday saying I'm pre-approved for a Platinum card. Bitch, Amex was the one and only of my many credit cards that slashed my credit limit on me during the whole Covid collapse and I will never forget it. How insulting! And now they're offering me a Platinum card? GTFOOH

I keep m,y cards paid in full each month and even so it does seem recently I have been receiving more credit card offers than the same time last year. Two went in the trash just yesterday.

I rarely get credit card offers in the mail now. I have two cards...one is a store card and the other a Visa. I have low balances and pay a lot more than the minimum monthly. I'm glad as they're a PITA and have to shred them. When I had several cards and the balances were at their limits a while back, I got many card offers.

I forget but there is a website where you sign up NOT to receive offers. I hate those junk mail and crooks can get use it for ID theft etc.

R276 - This is why it drives me crazy to hear “you never lose money in the market over time”. All that matters is the time period. If you put in $10k I in the past year, you now have $7k. Conclusion: you lose money in the market and you would be better off NoT investing.

So when the eldergays - and Wall Street “financial advisors” - all scream about the stock market as this guaranteed path to riches, don’t believe it. There have been many periods in history where you would have been better off sitting on cash. But as with every “fact”, the information included and the data set can be manipulated to tell whatever story you want.

R298 over time is something like twenty years. It depends on when you withdraw the funds whether or not you actually "lose" the money. I realize twenty years is a lifetime to some people.

Of course the time horizon matters. Japan's Nikkei index has STILL not recovered from its burst bubble 30+ years ago. That's why, for most investors, the older you are the less $ you should allocate to stocks.

The exception being 'super-rich' people who can basically live off the dividends of their portfolio.

That’s because both VISA and Mastercard has drastically cut back in the areas of Customer Support and fraudulent claims oversight. Welcome to the new post-COVID world where it is each man for himself. Now, both VISA and Mastercard have ZERO customer support departments. If you ever experience ANY incident on VISA/Mastercard, you will call a toll number which will tell you they have ABSOLUTELY NO ACCESS to your credit card activity. Then they will refer you to fraud/claim number that is open 9-9 EST only.

That’s right! No more 24/7 customer service that can address your needs. These ‘agents’ can no longer pull up your records in the first place. They are simply there 24/7 to inform you that they can be of no help and YOU need to do all legwork to register your complaint.. Fraud is rampant and VISA/Mastercard will no longer address your claim and you will NOT receive a temporary credit while your claim is being investigated - if it is ever investigated because one can no longer rely on the reputation of these long standing brands have once promised.

BOYCOTT VISA and MASTERCARD and try sticking to smaller creditors if you can. Definitely boycott CHASE and CITI. They are shit nowadays.

R301 CITIBANK has always been Shitty Bank! It only took me a few months to realize how awful they were and I quit dealing with them over a decade ago!

Oh really? I bet those 2 banks are better than Wells Fargo! The worst!

Wells Fargo is racist AF.

[quote] Dems should've let Trump "win" and take all of the blame for what's about to come. Much of the run-up that is now running down occurred on Trump's watch.

It is definitely Trump's fault but another term would have been an unmitigated disaster. The depraved lack of integrity meant that there was no stopping Trump and his minions in their zeal to lie, cheat, obfuscate and infect. Half of us would be dead by now.

[quote] [R298] over time is something like twenty years. It depends on when you withdraw the funds whether or not you actually "lose" the money. I realize twenty years is a lifetime to some people.

But all we have is a lifetime. I have been actively contributing to a 401k since 2004. I should've started ten years earlier but I was shortsighted and didn't understand the magic of pre-tax contributions and compound interest. Over 20 years, I have contributed about $350,000 to my retirement accounts. Today, my retirement accounts are at $1,080,000 -- down from over $1.2 million from earlier this year -- and lots of market turbulence in 20 years.

It took me 20 years to aggregate that $350k. I never had enough to invest in real estate or businesses. In a 401k, with employer contributions and investment growth it has tripled. It is a long game but unless you are independently wealthy it is the only way you can provide for your future.

R305 You are absolutely right. I am constantly amazed at how many people truly do not realize the awful State of the Union our country was in and how much worse shape we would currently be in with another Trump term.

[quote] another term would have been an unmitigated disaster.

Unmitigated disaster indeed

We would not have survived another 4 years of Trump. Unfortunately for Biden, bad timing is a bitch. The stock market can't go up forever. And all the extreme right buildup since Reagan has firmly entrenched itself as the norm for Republicans. How do you govern when the other party is bonkers?

C'mon R308....Biden was only weighing his words very carefully......and the peanut bar he ate earlier, now stuck in his teeth, was annoying as hell.

🙄 Biden is fine.

I am going to assume you were also sending out every video of Trump mispronouncing words, carefully walking down a ramp, forgetting his train of thought, panting like an aerobicizing ox after walking up stairs, or drinking water with two hands.

Fer gawd's sake.

Biden is sane. Dump isn't.

Biden as a head in a jar is better than ANY Republican Church candidate.

When will it end?!!! People are going to start jumping off buildings if the market keeps heading downward.

I'm sorry miss r314, but I've got...

Dammit!!! Who gets r315's stuff?!

Miss Market is on the rag.

R314 you haven’t seen nothing yet.

Where do you see it ending -- I mean, how low do you see the S&P going?

R319 220 or maybe even less

That's a 95% decline, MARY!

Don’t say I didn’t warn you.

Well gurl if that's the case you may wanna jump on the shuttle with Elon to Mars.

I'm sitting on a bunch of cash and I've now changed my Grindr profile from "Looking for A Bottom" to "Looking for THE Bottom".

I'm here, bitch!

Hi, R324

you fucken cunts never fucken remember me

fuc k you

[quote] [R319] 220 or maybe even less

Bitch?! Don't even joke about that. My 401k has lost 30% since beginning of year, and that includes all of my 2022 contributions and company matching!

I can't work forever, I just can't!! *hysterical sobs*

“Sorry Miss, but I have my own problems”.

I stopped checking when I saw my 401k lost my annual salary from the high in January to some time in April. And that includes max contributions every paycheck.

Why is the market getting pounded so hard? Just a correction or something more dire?

The simple answer is b/c it went up too high and for too long.

R294, for me it's Chase bank. Wiped-out 9,000 in my remaining credit line (to within a few *hundred* dollars of my then balance so it seemed on paper that I had maxed-out my card!)

I got a no-interest loan from mom, paid off the card and haven't touched a Chase card since--even with a pile of 0% for 12 month offers.

it's a good time to buy...some of these are solid companies. I've also lost a lot in this shit market.

OP- I'm a top. I do the POUNDING.

Not a good time to buy, in my opinion. The market will go down in waves for many months to come. The Fed is pulling money out of the economy through QT. They've finally popped the bubble they created.

What is QT, r336?

Qualitative Tightening (to counteract previous Qualitative Easing)?

Dunno. Just guessing.

Interest got raised yesterday in the EU, first time in 11 years.

Again: Now is NOT the time to buy. Check back in 6 months.

It may not bounce back until we go through a recession. They gave away free money for too long.

Someone shat in the punchbowl.

more pain today!

R333. It’s because of CHASE CFOs Jamie Dijon predicting a market crash.

I’ve had a shit if a time with my Amazon Chase visa, so I canceled and will no longer use a CHASE create card.

^^^shit OF a time…CHASE credit card.^^^^

Down more !!!!

there is no way Biden will be re-elected.

The Republicans will NOT be able to do anything about either. They will offer no alternatives or solutions. All they are going to do is suck Orange mushroom penis. That will fix the market, right….

[quote]All they are going to do is suck Orange mushroom penis

trump is cooked. He's not coming back from the January 6th shit.

It's probably gonna be that cunt from FL

Last month inflation hit a new 40 year high and consumer sentiment in the University of Michigan survey hit a record low. And on CNBC the argument among the analysts they’re interviewing seems to be confined to “are we headed into a recession or just stagflation?”

3850 on the S&P bitches ... watch for it ...

There was high inflation that lead to a recession in '81-'82 during Reagan's first year in office and things turned around before 1984 and he was re-elected handily. I'm not saying that will happen with Biden or that the circumstances of our times are at all congruent to then (they clearly aren't), but if past is prologue at all, things may very well rebound before the 2024 election cycle. The one saving grace for us now is that unemployment is still really low (3.6%) and the job market is hot. At the start of the 1981 recession, unemployment was 7.4% and growing.

Terrible.

$5 gas. Nice.

Ugh. It’s a bloodbath. I wish I held my Russell Index etf puts. Would have made so much $$$$$$. 🤦‍♂️

I bought my home with a 14.5% loan rate. Refied three times. No big deal. We will live through this.

Downside, we got Reagan when people blamed Carter, and Reagan went to work tanking the S&Ls.

Suze says buy I Bonds!

Goody goody, I was always in govt bonds both short and I and Long.

Any body making a killing in energy?

[quote]It may not bounce back until we go through a recession. They gave away free money for too long.

And they gave away money too long because the big cities put everyone on lockdown for too long.

R359 -- yes, in commodities generally. I picked up two commodity funds last year and one is up 127%, the other up 90%. I bought them as inflation hedges. Wish I'd bought more!

No unnecessary purchases...put off big purchases if you can. Become tight fisted with the money now. Only basics...

Where are the adults?

What do you mean R363? What should the adults be doing and saying?

"Qualitative Tightening"

I had that done. After 8 babies, Alec had to pump for an hour to get some friction 'down there'.

The cure for high prices is high prices. The market is working exactly as it should.

[QUOTE]Any body making a killing in energy?

Fuck, yeah. I'm almost a three bagger on XOM (bought in around 34) other energy plays well over 100 %, plus those sweet divvies.

We might be in for another ugly day tomorrow. Asian markets are selling off and U.S. futures are way down too, along with more selling off in bonds (with corresponding big spikes in interest rates before the Fed even has a chance to raise rates at their meeting this week.) No place to hide. Things are looking ominous.

Brutal. Recession indicators just in time for the midterms?

Nikkei is down 2.84% so far

I'm ready to place a VTI order but am undecided on whether to do it tomorrow or wait for Powell's mid-week remarks.

[quote] Is it temporary?

2024 can't get her quickly enough

Rubberneckers might want to keep an eye on the Celsius subreddit. It's a crypto lending firm that just announced it has paused withdrawals and transfers due to "market conditions." Some speculators who didn't learn anything from the recent Terra/Luna collapse are now shitting bricks.

Won’t the Republicans simply lower taxes and give away money for short term gain, and then inevitably blame Democrats when their approach collapses? The greed during the Trump era caused the current mess, if we are being honest.

I just hope the real estate market crashes.

Capitalism is the problem as usual.

No other country has had the record of stock market gains the US had, gains which have been boosted by diverting ever larger portions of American savings into the market. Now it's questionable where the next big tranche of savings will come from, what with the rich diversifying into crypto currenciees, foreign shares, and real estate. Without that the market won't earn consistent returns.

"Russian-born Celsius CEO Mashitskky" Russians fucking shit up again. Looks like Celsius was one of seven wallets that caused the LUNA depeg too.

R377 luckily the amount of wealth in the world has grown to match and offset the whales putting their money in crypto, foreign shares, and real estate.

Bitcoin, bitches!

Buy now or be priced out 4-EVAH!

Absent a big reversal, looks like today the S&P will officially enter a bear market.

Let’s hope so R381 — I am shorting the SPX500 as we speak!

Need it to dip below 3800…

I'm fucked!!! Might as well try to get a few coins for it.

Now Binance is bailing too. No withdrawals allowed. Bitcoin below $24K and still falling.

Fuck that old cunt! new fed chair stat!

Old bitch doesn't know what the fuck she's doing! useless cunt!!!

Janet Yellen needs to be replaced ASAP

r385, what do you suggest she do?

Yellen hasn't been the Fed chair since 2018; that's Jerome Powell's job.

It’s not Yellen’s fault. Put the blame on Grandpa Biden.

Like it or not, our economy is based on crude oil. When Biden announced his new green deal, the market seized up.

If Biden announced that America would start drilling again, the market would correct and we’d be back in business.

Put the blame on price gouging gas companies who know that their profits are destined for the shit pile of history and that they cannot prevent the shift to renewables.

Boo-fucking-hoo.

Can't Biden so something about these greedy companies? Stop the gouging?

The Republicans blocked him. Wanted a windfall profits tax that would be redistributed to the American people.

Do you really think that McConnell wanted to tax his oil and gas DONORS?

This is what the 10 year treasury bond yield has done since the start of the year. Think of it as a proxy for mortgage rates. It’s trending up in a practically vertical line as 10 year Treasurys sell off. Anyone looking to buy real estate in the near future is screwed. (click on the pic to see the full picture.)

[quote] Anyone looking to buy real estate in the near future is screwed. (click on the pic to see the full picture.)

Real Estate will adjust. A recession with high interest rates is a buyer's market. Then when things improve you just refi into a better deal. I bought in 2008 at nearly 6% and now my rate is 2.75%.

R394 That works if you’re planning to stay in your home long-term, otherwise the cost of refinancing doesn’t make sense.

Here’s what Bitcoin looks like today.

Is this a digital version of 1929 when the banks were failing?

This. Is. AWESOME!

So their money is trapped until tomorrow? Will it keep dropping $2000 a day until there's nothing?

A fool and his money...

R390. I cannot believe that these oil-gas corps. Are still fucking us over. Dems need to pass a huge windfall tax on their asses. However, I’m sure Biden is enjoying a nice ice cream cone to get ready for his nap!

Zzzzzzzzzzzzz.

Mitch McConnell never lies!

CNBC: Over the weekend and into Monday morning, more than $200 billion had been wiped off the entire cryptocurrency market. The cryptocurrency market capitalization fell below $1 trillion on Monday for the first time since February 2021.

Any investment that won't let you get out, i.e. crypto, is deserving of it's intense scrutiny and skepticism.

Burn, Market, Burn!

bet warren buffet is laughing his ass off. he doesn't own any crypto

The technical issue that Binance had earlier was resolved within hours and withdrawals were unpaused. Meanwhile, layoffs at crypto companies continue.

Down down 950

Nasdaq down over 530

Dow tumbles and stocks enter bear market on worries of drastic rate hikes

Way to go Joe

R406 maybe — but he also missed out on insane gains, when BTC stood tall at 58k

Not that he nor Berkshire need the money, but you get my point.

How are you blaming Biden for the stock market?

PJB exiting the political stage won't fix things, because these are the policies of the extremists who have taken over the Progressive movement and the Democrat Party. Joe's just a figurehead at this point.

The stock market is due to a reversal of quantitative easing, which is way overdue. We have been keeping the economy overheated since 2010. After an extravagant meal, the check’s due. As usually happens, it arrived when Democrats are at the table and Republicans have run out the back door.

I’ll be shorting tomorrow:

SPX500

NSDQ100

YINN

EUSTX50

DJ30

Where do y'all bitches think we bottom out? I mean the S&P, you easy hos.

[quote]PJB exiting the political stage won't fix things, because these are the policies of the extremists who have taken over the Progressive movement and the Democrat Party. Joe's just a figurehead at this point.

a. who the fuck is PJB?

b. "extremists who have taken over the progressive movement" = Trumpista commenting on anybody to the left of Adolf Hitler.

c. "Democrat Party" = you showing your ass as a wingnut troll.

Go fuck off to Breitbart and let the adults talk.

r411, exactly what extremist policies has Biden been able to enact, since two supposed Democrats--Manchin and Sinema--are preventing his economic proposals from being enacted? How is the current situation any different that what a Republican-controlled Congress would be doing, other than fewer tax cuts for the rich (the only economic policy Republicans believe in)?

Rick Scott already revealed that the Republicans' plan if they take the Senate is to raise taxes on the poor. Is that going to help the situation?

R414 I think between 320 (best) and 300 (worst)

Oh, dear God. Bear markets in the US have almost always been due to economic excesses built over long periods of time, encompassing administrations of both parties. To try to assign this one to Biden specifically is idiocy. I mean trollery.

I'd rather get a pounding from Gaetano in R408's pic.

lol you got his identity

*applause*

R407. Why on earth would you give a president blame or credit for the stock market. Any influence he has is pretty remote. It’s almost as ridiculous as blaming him for your cancer diagnosis. No wonder we elect so many idiots

R420, it's on his jacket.

^ of course you're right, but my eyes must be going b/c I sure couldn't read that in the preview

Ima say 2800

Those people blaming the oil and gas companies should know that sector is like biotech, very volatile. A couple of years ago the price of oil nosedived and companies stopped drilling. Coupled with a President who wants to support a transition to green energy along with a war with Russia, oil has soared again. When the war ends, oil prices will tank.

What should have been done is Congress should have reversed the Trump tax cuts. The failure to due so is due to Simena.

Now will you lazy fuckers get back too the office and shut up about wages? Or do we need to make you poorer?

....

[quote] Won’t the Republicans simply lower taxes and give away money for short term gain, and then inevitably blame Democrats when their approach collapses? The greed during the Trump era caused the current mess, if we are being honest.

The 2017 Trump/Republican corporate tax cuts are undisturbed. This is what happens when you cut corporate tax rates. The gains are never reinvested for the good of the individual, the benefits never trickle down to the most needy. And those of us in the middle are crushed by that damn SALT cap -- all so that Musk can be an autistic tyrant. No offense to anyone on the spectrum...

[quote] PJB exiting the political stage won't fix things, because these are the policies of the extremists who have taken over the Progressive movement and the Democrat Party. Joe's just a figurehead at this point.

WTF are you talking about?! What's happening now is all Dump and McConnell and their Republican assholes!

🔥🔥🔥

I’m so glad I never invested in that Bitcoin bullshit (or any other crypto).

R421 One: If things were great right now Biden would be out there every day taking credit for it.

Two: He didn’t set the inflation fire but he sure poured gasoline on it when he came galloping into office like he was FDR at the height of the Great Recession, determined to RESCUE everyone! Spraying money everywhere- Stimulus checks, enhanced unemployment benefits, extended Child tax benefits etc. etc. People stayed home collecting hundreds of dollars a month which guess what? Juiced demand. It’s common knowledge now that this excessive fiscal stimulus was a major factor worsening inflation.

So yeah, Our Joe shares some of the blame for the mess we’re currently in.

Well inflation right now is a global phenomenon, R432. So how do you proved that Joe's policies lit the flame? Was EU gov't spending flat? And Japan's and China's? Seems at the very least you need to look at the emergency spending measures all over the globe compared to GDP. Have you done that?

Or is it just easier to troll?

R432 you may recall (or not, as you seem to have selective memory) that fhe first giant stimulus and checks came from Trump, but was primarily used to enrich himself and his elite backers. The stimulus Biden passed was aimed at sending money to the people, not just enriching grifters and bribing people to improve his re-election chances (as I am sure was Trump's reasoning, based on everything we know about the man and his motivations).

Additionally, Biden had seen that Obama always regretted not making the stimulus bill he got passed larger, even though it still worked, it just took a lot longer to take effect.

And thirdly, every other country in the world is experiencing significant inflation right now - it is not just a US problem, it has to do with Covid and lockdowns, the global supply chain disruptions (which are still disrupted due to China's failed "Zero Covid" policy), the War in Ukraine, among other factors. But the overwhelming reason is the pandemic. Demand for goods and services is higher than it's ever been and that is driving up costs everywhere, made much worse due to supply disruptions.

Did the stimulus make inflation higher in the US than it would have been? Sure, a little, but the real culprit is still the global pandemic, and who knows how bad we would be off right now if the stimulus hadn't passed. Remember employment is at record lows now - Biden got everyone working again.

To say that this is Biden's fault is incredibly myopic and ignorant at best and totally disengenuous propaganda at worst.

R432: libertarian fuckwit who thinks COVID isn't real and wants everybody back in the office breathing unmasked on each other RIGHT NOW. Because Freedom(TM).

R432. Of course, presidents always take credit for the good things that happen during their administrations. They ate pandering to people with foolish opinions like yours.

I despised Trump because of who he was and what he did, not because of the performance of the stock market or economy during his term. As everyone is pointing out in this thread, inflation and declimning stock prices are a global phenomenon currently.

R389. “Grandpa Biden” is not going to lift the stock market by authorising drilling. Does it make any sense to you that it would or did you just hear that on Fox News?

1. There is a long lag between drilling and refining gasoline. For all we know, gasoline will be cheap before the gasoline that results from that drilling is available

2. Oil prices are set globally. If there is more oil production in the US, the producers will sell it where it commands the highest price. They won’t forgo selling it on the global market at higher prices in order to provide cheap fuel to Americans as an act of charity.

3. Oil prices are high globally and stock prices are low globally. You might take that as a sign that Grandpa Biden’s decisions with respect to drilling might have little to nothing to do with what is going on in the US.

Oh lordt. The wingnuts are blaming gas prices on the Green New Deal (which has never moved beyond hypothetical talking points)?

Everything r434 said!

[quote]Did the stimulus make inflation higher in the US than it would have been? Sure, a little, but the real culprit is still the global pandemic, and who knows how bad we would be off right now if the stimulus hadn't passed. Remember employment is at record lows now - Biden got everyone working again.

Inflation in America didn't have to be as bad as it is. The Federal Reserve (Jerome Powell) fucked up. He was trump's pick and he printed money like no one has printed money before to prop up the stock market. He can't be fired either. And after all his fucking up, Biden chose to keep him around. He installed him for another term last November. He'll be around for the next 3 years. God damn. Old Joe really loves to surround himself with a bunch of turkeys. The worse they do, the more he likes them.

That clown at the CDC needs to go. Same with the FDA. The FDA are the ones who fucked up everything with the baby formula.

Soaring prices are a truly global phenomenon.

An analysis of inflation across 111 countries from Deutsche Bank puts the U.S. near the middle of the pack. Inflation rates from May in western European countries like the Netherlands (+8.8% year-over-year) and Germany (+7.9%) are roughly on par with the U.S. (+8.6%).

Well if something happens globally to everyone, then there's nothing a President can do about it.

What are good stocks to park $25K in? WMT is low for now, as are DUK, AAPL, and others that it would seem you'd just hold and over time would do fine if not spectacularly. I also see buy recs on JNJ, PG, and BMY.

And where do we stand on good old reliable T now that it's at rock bottom?

Is it good to buy Amazon after the split?

Having gotten out of AMC and GME with a little money, it would be nice to find some short term picks too that would give a 20% upside in a month or less. It can be done: RDBX is the latest example. If you'd put in a chunk on 5/25 when it started to really pop and was between $6-7, you'd have more than doubled your money by today (6/14) and come close to tripling it had you sold yesterday when it was over $17.

Not stocks, Munis.

If you're trying to turn a quick profit, retail stocks would be a strange bet to place at this particular moment in time.

[quote] Last month, inflation in the US hit 8.6%, one of the highest rates in the world. Many of the forces driving inflation last year - such as supply disruptions from Covid and higher food prices after severe storms and drought hurt harvests - were not unique to the US. The reason the US fared worse? In two words - high demand. That was driven by the massive $5tn (£4.1tn) in spending the US government approved to shield households and businesses from the economic shock of the pandemic.

Yes it’s a global phenomenon and yes there are several factors at play but to cover your ears and pretend Biden played NO role is just stupid. He did and that’s just a fact.

It would also be foolish to pretend that the “massive $5t in spending” did not include $3 trillion from Trump, who almost vetoed the second because he wanted it to be bigger.

^^ Which doesn’t include the $2 trillion tax cut before Covid.

R442 thought he was so clever for posting that.

R448 isn't it supposed to cost $10 trillion over ten years?

R446, nothing in your article shows Biden is to blame for any of it.

If inflation is a global phenomenon, why/how is Japan avoiding it?

They continue to mask up.

R446 I fully did say that the stimulus did add a little to the inflation in r434, however it was necessary to get people working again, and without that who knows how bad off we'd be now. Definitely would be a worse situation if we still had high unemployment like we did at the end of the Trump regime. Not sure what point you are trying to make either - stimulus was done in all western nations as far as I know, because the world's economists knew it was better than the alternative.

The current rate increases have been coming for a long time, btw - I do think Trump made/intimidated Powell into keeping interest rates low even though he knew they should have been raising them back then. But then the pandemic happened and all that got put on hold. Powell is a Republican so I'm sure he isn't upset that it's harming Biden, too. This is why you don't leave Republicans in positions of power, even if you think they are the *good* kind, the party is too far gone as a whole.

R440 I do agree the FDA needs to be retooled, it has needed that for a long time, and it will likely require Congress to get involved. And I know you're also complaining about Dr. Fauci, but he isn't the one running the CDC, despite what Fox News would have you think.

Who knows how the official statistics are calculated in, e.g., China. Getting deep in the weeds and off-topic.

Where does this bitch bottom?

On February 14, 2020, the S&P 500 hit about 3380.

It sharply fell in response to Covid, but then rose to 4818 late last year/early this year. I still don't understand that gigantic increase in the S&P. Why? Did the economy become more profitable? It was like a bout of utter madness. Or it was a place to tuck away some money.

It closed today at 3735.

Wholesale prices rose 10.8% in May, near a record annual pace

Asset bubbles often go parabolic just prior to collapsing, R457.

[quote[What are good stocks to park $25K in? WMT is low for now, as are DUK, AAPL, and others that it would seem you'd just hold and over time would do fine if not spectacularly. I also see buy recs on JNJ, PG, and BMY. And where do we stand on good old reliable T now that it's at rock bottom? Is it good to buy Amazon after the split?

Spending is down now because of inflation. But the stock is around $105

I'm investing some money in Amazon. I looked up how they did from 2017 to 2020 and the stock went up 89% during those 3 years.

the market will be up today. i guarantee it

Futures are up ... but wait until the Fed formally announces its rate hike today (at 2:30 EST).

Goddamned interest rates...always wreaks havoc on the stock market.....even by 1/4%. It like republicans...any iota of budging or compromise on anything, a resounding NO!

As expected, the Fed hiked its benchmark interest rate by 0.75 percentage points – the biggest increase since 1994.

Stocks are up, too...40 minutes more to go to closing. Over 500..

Dropping now...but still up. Keep it green!

You can cheerlead all you want, the stock market is toast. Up next will be your home's fake equity.

In my family, we sell homes after someone dies. Looking forward to lower property taxes!

Supposably, it's going to open lower today.

[quote]Supposably

Cut that out.

erm, that's a 'no'

dow dips below 30,000

Shit. Free fall...

This happened after the last Fed meeting too. Big relief rally followed by more declines. It’s just relentless at this point.

🩸 BITCH SLAY YASSSSSSS RISE OF THE BOTTOMS!!!!

Bottom, reveal thyself! I want to know when it’s time to start buying again.

Today:

Housing starts down.

Philly fed (manufacturing activity) down.

England and Switzerland central banks raise interest rates —> European markets down.

All signs of global recession coming.

why are bonds also falling? i thought they are more stable than stocks.

R479 Bonds are rising today. Prices up, yields down. They’re relieved that Powell finally gets it with regard to inflation.

𝑺𝒕𝒐𝒄𝒌 𝒎𝒂𝒓𝒌𝒆𝒕'𝒔 𝒇𝒂𝒍𝒍 𝒉𝒂𝒔 𝒘𝒊𝒑𝒆𝒅 𝒐𝒖𝒕 $3 𝒕𝒓𝒊𝒍𝒍𝒊𝒐𝒏 𝒊𝒏 𝒓𝒆𝒕𝒊𝒓𝒆𝒎𝒆𝒏𝒕 𝒔𝒂𝒗𝒊𝒏𝒈𝒔 𝒕𝒉𝒊𝒔 𝒚𝒆𝒂𝒓

The U.S. stock market rout that has put U.S. equities in a bear market isn't just reducing the net worth of billionaires like Elon Musk and Jeff Bezos. It's also taking a toll on Americans' retirement savings, wiping out trillions of dollars in value.

The selloff has erased nearly $3 trillion from U.S. retirement accounts, according to Alicia Munnell, director of the Center for Retirement Research at Boston College. By her calculations, 401(k) plan participants have lost about $1.4 trillion from their accounts since the end of 2021. People with IRAs — most of which are 401(k) rollovers — have lost $2 trillion this year.

This year's stock slump is the most severe market downturn since March of 2020, when COVID-19 erupted in the U.S. Historically, 401(k) investments take about two years after a market decline of this size to regain their previous value.

Thanks Joe

Grandma is a tard ^

Grandma, take your Namenda and just know this is where Trump put you. MAGA was a grift and you got taken in (again).

Even though inflation is a problem in Europe also, Joe was depicted as too focused on Equity Inclusion and Trans issues and not inflation. Even though he's limited in what he can do, insuring he nation that he's aware of the problem and trying to address it might calm the nation. The public has given him credit for his addressing of Covid and the war in Ukraine, not for the Afghanistan debacle and the border situation. Maybe giving a prime time speech on his efforts to handle inflation might help. The press is generally sympathetic to him. This is said as someone who voted for him and will probably vote for him again.

Nikkei is down 2.5% so far in Friday trading

R481, Grandma can thank businesses for eliminating pensions for most people.

Errr…Grandma can thank GWB for suckering employees into thinking that GAMBLING in the stock market via 401ks was worth it, instead of taking solid Defined Contributing Pension funds. Greedy, stupid, fucks! I have very little sympathy for those that fell for this ruse. They simply looked at their paper “gains” in 401k’s and without understanding that their funds were being put into the stock market and that their pensions could nosedive, just swooned believing it was all a sure bet. Americans are stupid!

R487, lay down the crack pipe. 401ks were around long before GWB.

401ks were the answer to companies who mismanaged their employee’s retirement money and in some cases, companies shut down completely leaving long term employees with nothing.

It’s not a perfect solution, but it gives the employee more control over their money. Every employee also has the right not to be involved in their employer’s retirement plan and to have 100% control of their money.

R488, you demon

spoiling R487's simple, black/white and good/evil version of reality with nuance and facts

Looking it up I see 401ks suckering employees into thinking that GAMBLING in the stock market were authorized under Jimmy Carter on November 6, 1978.

401ks were originally another benefit given to business men as a add on tax dodge. They were never intended to be defined benefit alternatives. And then came Reagan...

Does r487 believe that pension funds don’t invest in the stock market? Because they do.

Also, years ago, some companies were investing their pension funds in their own company. With a 401k you can diversify.

The government also recognized the need to be free of a company’s influence and created IRAs.

Yes, all true…but there was federal pension INSURANCE that if a company declared bankruptcy there was a federal pension insurance that would step in, much like FDIC.

Link:

I’m trying to point out that the difference between Carter and GWB is that the latter intended to get rid of DCs altogether! Can you make out this simple distinction, you fucking moron. GWB MISLEAD people into thinking they could grab more money in 401ks, but never, never see the downside that they could lose their retirement money as well. Can you get that thru your fat, thick head. Goddamn moron!

You're being naively, politically one-sided, r495.

The point you are too stupid to understand is that things like this are always conspiracies of two parties.

Just buy Bitcoin, bitches.

It will NEVER be this low again!

I thought the benefit of bitcoin was that it was crash-proof since it was not pegged to the dollar or the stock market. So how did Bitcoin become a bottomless bottom?

They claimed it was a store of value. It's clearly not. They claimed it's a hedge against inflation. It's clearly not. They claimed it's an untraceable currency. It's clearly not. So what IS it???

It was a digital Ponzi scheme. A pump & dump vehicle. All of the incessant Instagram posts from people thinking they were financial GENIUSES on the way up have now gone completely silent! Not a peep lol.

Better luck next time!

Kruggers agrees:

R496. Failed non-sequitor.

A small silver lining from the crash. I was in the market for a new one.

Exactly how many people who invested in Bitcoin do you follow on Instagram, R499? And why?

As long as it ends the price gouging by corporations, the crash is good for everyone. No one pays attention to annual reports - but it is shocking how much profit corporations are making because “we have been able to adjust pricing to more than offset increased supply costs”. It’s good to see companies alike Dollar General getting hot - it’s a message to corporations that they need to start competing on price again.

R496. Bush, unlike Carter, did have a plan to invest Social Security funds in the stock market, increasing retirees’ exposure to the stock market.

R487. here. Yes, this is the simple point I was making on just how much what GWB fucked us back then. And this is how we find ourselves living in this HELL now! The following posters are just have too much hubris to admit that they were so gullible all along.

R506, how did GWB fuck us? Examples please?

Replying to support r505., moron.

You must have an attention span of a gnat and/or you are smoking crack to deal with your now-broke-ass future. Don’t mean to be harsh, but you need to sit still and learn to read.

R506

R506. Again. I really don’t have any media or reportage that I can give you as examples because I simply lived through GWB’s era when I was in my early earning years and we discussed the matter of putting our SS and 401ks into the stick market IN PLACE OF Defined-contribution pension funds and even then I saw it as a way to trick people into gambling in stocks rather than a safe-bet pension fund.

Many of my peers showed off about how they were tripling their retirement earnings while I got a paltry guaranteed pension. Guess who’s screwed now in their old age? It’s not me. But GW never, NEVER, at any time, revealed that these huge retirement fund managers were basically gambling their retirement money in stocks.

Some of us have lived (before social media) and learned the hard way.

[quote]Bush, unlike Carter, did have a plan to invest Social Security funds in the stock market, increasing retirees’ exposure to the stock market.

Jesus Christ, are you serious?

Bu$h's plan was to give it to the citizens to invest with Wall St.

I remember all the times the fucking republicans like to threaten to shut down the government every time the debt ceiling needed to be raised, my retirement account dropped 30%. And no one would have any money by the time the greedy fucks at the hedge funds nickel and dimed their accounts with fees.

Not to mention these cunts who gambled away people's pensions trying to drive Gamestop and AMC out of business.

I enjoyed getting rich and driving 2 cunting hedge funds out of business. Too bad about their clients.

R510 Those were the good old days, when the stock market (and crypto) were FUN! Not so much today..

R510. Why are you lashing out at someone who, like you, is criticising Bush for diverting social security funds into the stock market? Is there a reading comprehension problem?

^^^A troll who w/w himself. Disregard or block. Simplify your life.

I hope it is temporary! My 401K and 529 are getting slammed!

The market is spewing thick ropes of cummy upness today!

Bush never diverted Social Security into the stock market. He proposed the idea and found out it was an unpopular idea.

At least he tried. Democrats will sit there and let it go bankrupt. You think college students are pissed off now? Wait until they get to retirement and are told there’s no more Social Security.

I think they are already aware of this.

Heck, even I knew this back in the late 90s at the very least.

R516. Of course, he didn’t divert any social security funds to the stock market. But if he had gotten his stolid way, he would have. He didn’t get his way because it was politically impossible, and it was politically impossible because it was a stupid and reckless idea. It was one of an endless number of instances of Republicans pandering to voters by promising something for nothing.—-continued, full social security benefits without full financing through tax payments.

Is there anything too stupid he could do that you wouldn’t give him credit for “trying”. If he invested social security funds in magic beans would you still give him credit for “doing something”.?

R518, whaaaaaaaaaat?

The plan was that people could take a small percentage of what they had already paid in and invest those funds in the stock market. It would work the same as a 401k.

The problem was that Nancy Pelosi and Harry Reid knew the money wasn’t there. All that is in the Social Security fund is a bunch of government IOUs. Congress has spent the fund knowing that they are in a different pension scheme and their retirement is ensured.

No, R519, the problem was that the public overwhelmingly recognized the plan for the idiotic idea it was.

"Having invested so much political capital in this issue, President Bush embarked on the first of what proved to be a long series of tours crammed with events at which he pitched his plan to the people. It soon became apparent that it would be a tough sell. Within weeks, observers noticed that the more the President talked about Social Security, the more support for his plan declined. According to the Gallup organization, public disapproval of President Bush’s handling of Social Security rose by 16 points from 48 to 64 percent–between his State of the Union address and June.

By early summer the initiative was on life support, with congressional Democrats uniformly opposed and Republicans in disarray.After Hurricane Katrina inundated what remained of the President’s support, congressional leaders quietly pulled the plug."

R519. Stocks provide high returns because they are risky. Social Security’s purpose is to provide a guaranteed basic income to old people, some of them very old. That’s why investing social security funds in the stock market was a really stupid idea. But the idea appealed to Bush and republicans because it appeared to offer their base, who love government handouts without having to pay for them, a chance to reduce the taxes required to find the social security program

I think we may be missing the point here. The issue is that large corporations were able to get rid of DC pension access. DCs were no longer offered to their employees and let them off the hook after retirement. Now, it’s a given that your employer doesn’t give a shit what happens to you after you worked for the same company for 30-40-50+ years which is why some retirees are moving in with their kids or resort to living in their cars.

Do you not see the connection and how much damage this could lead to? It took a great burden off of large corporations $$$BUSHco$$$$ to take care of their retirees.

I used to day trade. It was so much work. I was up at 3 am Monday through Friday. I wanted to find out what the talking heads were spewing, and hoping to make some decisions for the day. I spent an insane amount of time analyzing charts, reading company reports, researching filings, and figuring out what the company high-ups were doing. Pumping and dumping for entertainment. I made money but ended up on a gurney two years in, after having a heart attack. I walked away and never looked back. Fuck that massive Ponzi scheme. I don't regret turning my back on it. This last run up though - so enticing, got to admit. Good luck to those of you hanging in. It's a tough way to make a living.

look out below

R521. Yes, Bush’s 401k and IRA w scheme was a huge tax shelter for the 1%.

It was also designed as a huge windfall for the "financial planning" industry, as most Americans would not have a clue how to invest and would need professional help -- which would eat up even more of their Social Security money.

You get the the roots of how the Repuke greed formed over decades of selfish, self-serving policies that has ruined our country. This is why we are where we are today in America the Greed, not America the Great. The utter irony is that none of them can take their $$$billions$$$ with them when they die. You can’t take it with you! Why amass so much money and hoard it?

One thing is certain: you are born and you will die - and you come into the world the same way you will leave it. With nothing, naked and vulnerable and needing care.

[quote]All that is in the Social Security fund is a bunch of government IOUs. Congress has spent the fund knowing that they are in a different pension scheme and their retirement is ensured.

Congress switched to the FERS retirement plan in 1984 along with all new hires to the Federal government. They do contribute to social security and have the option to contribute to the TSP which is a 401k type of plan.

R519. You do realise that money is money, right? What does it even mean to say Congress spent the money and left iOUs?

I believe it was Clinton that took our separate SS money set aside for future SS payments and put all our saved SS money into the federal general funds. Isn’t this how he could later claim he wiped off our federal debt? By adding the SS monies to the general Federal funds?? I’m not sure. It was like celebrate good times, See how much money the federal govt has now? Really, the more I think about it, Clinton really contributed to our miserable affairs with deregulation and allowing huge banks to “merge” with smaller banks to create “too big to fail’ mega, monolpoly banks leading to 2008 crash.

R530. No, Clinton did not do that by any stretch of the imagination. You should perhaps revise your opinion of him.

Okay, okay…but is there or is there not a carve out of the money from SS set aside from the general tax fund?

It’s all moot anyway, since Millennials don’t work or pay SS taxes, so who knows how they will pay for their SS.

America the Great is now America the Greedy. Har Har😂

R523, wow, i'm glad you're fine now. what industry are you in now?

[quote]Bush never diverted Social Security into the stock market. He proposed the idea and found out it was an unpopular idea.

That's not true. The only reason they didn't is because he got caught up in two failing, illegal wars, his appalling failure with Hurricane Katrina , and republican's policies almost bankrupting the entire world.

Had it not been for those things, they'd have passed it and most of the country would have had their retirement accounts nickeled and dimed to death with lots and lots of fees from hedge funds. They do not care if the public like it or not. It was going to be a complete gift to the financial industry. Even drunken fool, rudy giuliani opened an investment firm in the hopes of being able to legally rob people's retirement accounts

Gurls, GURLS! You're BOTH cunts.

Can we get back to where the markets are going??

My meme stock is up 47% in the past month.

As of today -- June 23, 2022 -- I have lost $50,000 of my non-retirement savings since January. I am going to have to move back to Cabrini-Green.

Ronnie Reagan was the KING of deregulation you guys.

R534 I'm not in any industry. I have income properties and I'm retired.

If you can not stand to see your portfolio lose 50% of it's value you should not be in the market

r538, hate to tell you...

DOGE. Put all your money in DOGE

Same R538. Made it in 2020/21 - lost it in 3 months. It really is a gambling den.

Personally, I think the stock market plays like a massive Ponzi scheme. I'm R523. It took me some time to get any kind of a firm grasp on this, but it did sink in after a while. So, it became a game for me. I'd do my best to outguess what was coming down the pipelines and out-game the bigger, master gamers. This was very stressful stuff. I was trading hundreds of thousands, sometimes millions, on a daily basis. I often wished I could be a fly on the wall of hedge fund guys. They fascinated me and I hated them. I put together a small group and we worked together to plot trade strategies.

My blood pressure is going up just writing about this. No wonder I ended up having a heart attack.

There definitely are Ponzi-like schemes, particularly in speculative bubbles like the market became. Meme stocks and crypto are perfect examples. The S&P could fall 50% from peak to trough but I don't think it goes beyond that. And it will come back ... probably in years this time, not months.

^^Oh, dear.

Just substituting for the real ‘Oh, dear’

R538 You haven’t “lost” anything unless you SELL it for less than you bought it. Just hang on.

And pray it isn't delisted

And of course the house financial services committee determined that the biggest or the second biggest republican donor lied to them and violated lots of trading laws.

How nice of the useless democrats to wait until a Friday afternoon to release this

And not only a Friday afternoon but on the same day Roe v Wade was essentially overturned in half the states.

The media has completely ignored Ken Griffin's crimes.

The democrats are God damned useless.

R550 - I don't think you understand how much of the Democratic party machine is funded by financial services.

If you don't like financial services, then you don't like Democrats.

If there is anything that the entire situation proved at r550 it's that if you're the average citizen and dare to become a millionaire via retail investing, the Wall Street Journal [italic]will[/italic] find you, and they [italic]will[/italic]doxx you.

They can't be bothered to unveil all of the insider trading of your state representatives, though.

FUCK DUCKFACE CHUCK SCHUMER!

There, I said it!

so if you had a house to sell, do you sell it now or wait?

3 months ago R554

r554, the interest rates are going to keep going up until inflation goes up. Housing prices go down when interest rates go up.

If the rates go up 2%, a $400,000 house will cost $666 per more per month.

Maxine Waters is as crooked as they come.

Auntie Maxine knows how it gets done in Compton.

Don't fuck with her.

Read the room OP: there hasn't been a lot of action lately under those caftans, at Mardi Gras or else, so if the market gets pounded like that, he's just flat-lining.

Things could get rather ugly today.

A recession would do wonders for this rampant inflation. Probably the lesser of two evils at his point. It just sucks because it's right before the midterms.

In other news, Gazprom cancels dividend for first time since 1998, shares dive by 33% in a matter of hours, trading has been halted. Large dividends were the only remaining reason to buy Russian stocks even after the 2014 sanctions. A neutron bomb for what's left of the Russian stock market.

I should have sold last week. I almost did - the it tanked by 15% this week - again. Growth tech is being destroyed- cash flow is king now.

So again, what do we want to get IN on (for short or long holds)?

I’m not long on any stock anymore. Whenever I make a substantial profit, I sell and reinvest my original investment + profits, whenever I see an opportunity. It takes a little more work, but it protects me from unexpected drops.

Has anyone here studied GameStop’s chart? It’s very suspect IMO. Every now and then, it shoots up 30% in a matter of days. That can’t be retail, as GME is now an expensive stock.

[quote]So again, what do we want to get IN on (for short or long holds)?

Cash. You probably should have cash on hand for two years of living expenses.

[post redacted because linking to dailymail.co.uk clearly indicates that the poster is either a troll or an idiot (probably both, honestly.) Our advice is that you just ignore this poster but whatever you do, don't click on any link to this putrid rag.]

R567, we are involved in an undeclared world war.

And Biden announced that we are in it to the end.

Apparently, the casinos in Nevada are doing well in stock holdings.

[quote] we are involved in an undeclared world war. And Biden announced that we are in it to the end.

It's like Christmas morning

Once analogies were made about another Afghanistan, the air went out of the balloon. We just fucking got out of Afghanistan and now they are alluding to Ukraine as being another one.

R569 - they are indeed. I have stock in 2 gaming companies (can't remember the names at present as I think they've changed names a couple times over the decades), and it's always a dependable, steady increase in my portfolio, or a relatively insignificant drop if that's what's happening in the overall market. Casinos, slot machines, betting on sports, etc., - any form of gambling is addiction behavior and impulse. People easily and willingly get caught in that parasitic loop. When I lived in New Orleans, I saw how people would hunger to gamble everywhere they could in any way feasible. When I saw gaming stock available, I bought. I guess I should have some moral qualms about making money this way, but so far, I don't, at least not in the addiction arena.

Well...the market ended the week on a high note, such as it is..

It looks like the traders are getting word that Dems are going to pick up seats in the house and senate and things should stabilize. Good news for the markets.

Michael Burry predicts S&P is still only halfway down. The second half of this year will be a giant shit show.

"It looks like the traders are getting word that Dems are going to pick up seats in the house and senate and things should stabilize. Good news for the markets."

oh yeah, rrrroight.

Dems MAY hold the senate. Maintaining the house is out of reach.

Keeping the House is possible with turnout. One of the “doomed” lives in a district near my safe district. That’s where I will put my effort rather then rolling over. Do something.

Half of the Republican candidates will be dead from Covid 2.

This is not omnicron.

As we speak, nurses are being put on high alert and admins are racing to ink contracts TODAY and not waiting until Tuesday, when announcements will be made.

This all just came into clear focus this week. Deplorable vaccinations have wained to near zero percent.

Covid 2 will be a big hit at all the churches and large communities of unvaccinated people. Hundreds of thousands will die from the new tougher strain.

^ what the fuck are you on about?

To R578, as long as it's the right deplorables& unvaccinated dirty trumpers that DIE I am all for it!! God I hope u are correct, let it KILL,KILL,KILL all the stupid rethugs.

Well damn. I knew we were in for a bad day after European markets all fell ~2% overnight and US futures were down 350+ points. Currently down close to700 points and still falling.

Everyone’s worried about a recession. Europe’s freaking out over natural gas prices being up close to 700% and how they’re going to get their supplies up before winter. Bad news all around.

The natural gas story.

Another Russian knife to Germany's throat situated there with Merkel's approval

[quote] Dems MAY hold the senate. Maintaining the house is out of reach.

It will be an extremely difficult task to keep the House, but not impossible. There are so few competitive seats that the Dems may be able to concentrate on those and hold onto them. It will not be easy. But the abortion decision may have aided them. Without that the prospects were even more bleak.

The sanctions against Russia are laughable. Germany and Netherlands are STILL buying almost as much as China. Europe fell right into Russias trap - make them dependent on us then they can’t do anything. Thank God for fracking in the US - which I originally opposed but now appreciate as a miracle saving grace.

The stock market is Vegas for the 1%. It's always been about inside trading ..For the average mom & pop investor who thinks based on their "independent research" they can "time the market" it's a fools game . Better off buying LOTTO tickets at least you don't have to give commission to a "wealth manager" aka thief.

To R586, you ain't fucking lying!! It is Vegas for the 1%, and it is about insider trading. I have been doing Finance-Wall Street since 28 yrs old. It's always been about "what you hear, who you hear it from". People "TALK" all the time in this business.

Where does Warren Buffett fit in to your narrative, R586?

Ever since computer trading took hold it’s been a perpetual pump-and-dump game. As they say: there’s a time to get in, and there’s a time to get out.

[quote] Cash. You probably should have cash on hand for two years of living expenses.

Oh, goody. I must have $160,000 just lying around here somewhere.

r590, is that your salary or living expenses for two years?

[quote] [R590], is that your salary or living expenses for two years?

It is LIVING expenses for two years. It works out to about $6660 a month.

My monthly expenses:

Mortgage - $2800

Student loans - $900

Auto loan - $470

Property taxes - $560

My monthly bills total $4,730. That leaves me just $1,930 per month for essentials - food, gas, repairs, apparel, botox and anal bleaching.

To be clear, R590, that advice was for retirees, which is a large demographic here on the DL. And I'm not just talking about girth.

[quote] To be clear, [R590], that advice was for retirees, which is a large demographic here on the DL. And I'm not just talking about girth.

I am perilously close to retirement age, but on the bright side, guys always tell me I look 38.

I bought a little today. If it keeps going down, I'll buy a littler more.

Let's start a new thread!!

I demand it!!

It must happen!!

We can do it!!

I'm really rich beyotch...Thread closed now, OP. Thank You

Thread closed??