All stock market gains since inauguration are gone.

So much for "Look at my 401k"

3/18/2020 2:49:23 PM

Eh unless you're retiring in 10 years you're fine. And if you're retiring in 10 years your portfolio should have already been phasing away from stocks and towards bonds/treasuries.

3/18/2020 2:53:12 PM

That's a fairly privileged view. There is a huge middle ground of people that can afford to contribute something to retirement but not enough to go completely low risk late in career. "10 years before retirement" is not a real end date as most people prob have a money goal, not an age goal.

3/18/2020 3:04:20 PM

Quote :

"That's a fairly privileged view. There is a huge middle ground of people that can afford to contribute something to retirement but not enough to go completely low risk late in career. "10 years before retirement" is not a real end date as most people prob have a money goal, not an age goal."

There's nothing privileged about that - it's a statement of fact. People able to contribute to retirement but unable to follow the financial planning advice surrounding the plan to which they're investing are either starting too late to begin with (separate issue), not listening to advisors (making them idiots) or have completely unrealistic expectations or dreams (making them idiots).

As for a money versus age goal, that's an education issue (financial education that is) because you can't have a money goal without factoring in an age goal: a 401k is investing and investing factors in both value and time.


[Edited on March 18, 2020 at 3:48 PM. Reason : a]

3/18/2020 3:45:33 PM

Nah, there really isn't any way to spin this. Pretty much everyone is getting fucked for the time being, it just hurts rich people less because they're rich and when you take their money they still have plenty, unlike poor people who don't have any.

3/18/2020 3:47:04 PM

Quote :

" Pretty much everyone is getting fucked for the time being"

That's what I said, the operative phrase being "for the time being."

[Edited on March 18, 2020 at 3:49 PM. Reason : a]

3/18/2020 3:49:21 PM

Not privilege

Financial planning advice
Advisors
Financial education
Dreams

3/18/2020 3:56:08 PM

https://www.politico.com/news/2020/03/17/opm-chief-resigns-134541

Quote :

"McEntee's return to the White House has roiled the administration with some officials criticizing the former Trump campaign staffer for what they see as an effort to stock the administration with his friends, including at least three college seniors. McEntee has not responded to questions on stories touching on the hires."

Quote :

"Adding to the tension: The White House has hired a third college senior to be an administration official in a sensitive post, according to four people familiar with the matter."

This election couldn't possibly happen soon enough.

Quote :

"Not privilege Financial planning advice Advisors Financial education Dreams"

Uh, correct. If you have a 401k you have access to financial planning advice (which, funny enough, comes from advisors). Financial education is a SEPARATE issue, related to education in general, not the state of the current stock market. Dreams are fine, but to make a dream reality you have to have some sort of plan to get there that actually works in reality (a reality, by the way, that considers the class structure of society as it is not as you want it to be).

Did I miss something?

[Edited on March 18, 2020 at 3:57 PM. Reason : a]

[Edited on March 18, 2020 at 3:58 PM. Reason : a]

3/18/2020 3:56:09 PM

Its almost like this highlights all the things "angry bernie bros" have been yelling for 5 years.

3/18/2020 3:57:29 PM

^

3/18/2020 4:02:02 PM

https://twitter.com/thehill/status/1240364608390606850?s=21

Cornyn is really playing some 88-D chess being really, really racist.

3/18/2020 4:23:54 PM

Quote :

"If you have a 401k you have access to financial planning advice (which, funny enough, comes from advisors)"

Some do but I'm fairly certain not all do. And people have to know to go down those routes. I'm not sure why I'm arguing that people care about the stock market. A guy at work went home early Thursday bc he was so stressed out. He's gainfully employed but not at high salary, he wants to retire with a nest egg and was relying on Trump to keep his stocks high. This guy will prob still 100% support Trump but there are plenty of others that will change their vote bc of a crash.

Having less money often leads to riskier behavior. Nobody wants to work til 90 and nobody want to be scraping by in retirement.

3/18/2020 4:31:42 PM

https://www.defenseone.com/technology/2020/03/trump-calls-out-chinas-covid-19-disinformation/163858/

3/18/2020 9:27:26 PM

Wow that OAN "journalist" might as well have come up and given Trump a shoulder rub.

[Edited on March 19, 2020 at 12:46 PM. Reason : iS cHiNeSe FoOd a RaCiSt TeRm]

3/19/2020 12:45:28 PM

Tbh, if Fauci isn’t there what is the utility of broadcasting these updates? Trump is just lying through his teeth. It’s not informing the public in any way. Almost inevitably if he does make news the serious people in charge almost immediately walk it back.

There is really no point in airing it.

3/19/2020 12:58:17 PM

https://twitter.com/emmakinery/status/1240676267063640064?s=21

Yep, time for the media to stop covering these. Not only is there no positive utility there is literal harm being done.

3/19/2020 1:08:56 PM

^^

3/19/2020 3:12:10 PM

Jesus, he just can’t help his xenophobia from coming out

I like how Pompeio made sure to mention that the Canada border closure will be reviewed in 30 days, no mention of a review on the Mexico border shutdown.

[Edited on March 20, 2020 at 12:07 PM. Reason : .]

3/20/2020 12:03:07 PM

Canadian border closure was Canada's idea anyway right?

3/20/2020 12:09:50 PM

There is zero reason for any member of the media to ask Trump or Pompeo a single question. The border is 100% not relevant.

Ask experts questions ability testing, social distancing, virus spreading, containment, etc. The ONLY thing that should be asked of Trump is about fiscal stimulus.

3/20/2020 12:15:54 PM

^agreed

3/20/2020 12:18:18 PM

Today's presser is a fucking shit show

3/20/2020 12:42:18 PM

It’s damn embarrassing

3/20/2020 12:43:12 PM

Yet somehow

https://thehill.com/homenews/administration/488597-majority-of-americans-approve-of-trumps-handling-of-coronavirus-poll

3/20/2020 1:41:12 PM

I wouldn't worry too much about those numbers right now- only ~200 people have died, and Spring Break is just getting started in some places. Once people's 1k checks bounce and they're burying their dead grandparents, maybe they will dip, slightly.

3/20/2020 1:45:56 PM

I've just come to accept that this is because Americans perceive being an asshole as "strength". Its a cultural thing. It also explains why Biden is so "strong".

3/20/2020 1:46:31 PM

To be fair, his numbers are lagging even Congress whose approval routinely sits in the teens.

Also, I feel ashamed for saying his response earlier in the week was improved. I know better than to do that and not expect him to fall back.

3/20/2020 1:59:33 PM

You called it like it was. His response improved and then went back to being a disaster. My theory is that he is newly unhinged because the Burr stuff is going to come back to him.

3/20/2020 2:16:05 PM

You know its bad if Fauci was so shook he was touching his face in the background

3/20/2020 3:33:01 PM

lol, Trump is mad companies used his 2018 tax cut for stock buybacks.

3/20/2020 5:44:57 PM

World’s biggest baby
https://twitter.com/realdonaldtrump/status/1241929664987148289?s=21

3/22/2020 11:54:25 PM

https://twitter.com/realdonaldtrump/status/1241935285916782593?s=21

He’s panicking now about the impact of the pandemic response

3/23/2020 12:27:17 AM

It’s happening. The signs were there from the top advisors (Fox News and most specifically Laura Ingraham) on Friday night. He’s going to open back up the economy to try and save the stock market.

Fuck it olds, what do you have to lose?

A lot of red state governors will go along with it because they are terrified of him but luckily the biggest population centers have good governance by and large (even the GOP ones).

[Edited on March 23, 2020 at 8:07 AM. Reason : X]

3/23/2020 8:06:00 AM

India has grounded all domestic flights.

Why TF haven't we?

3/23/2020 9:52:01 AM

You would need 60-80% of the "healthy" population to get coronavirus and recover to have enough herd immunity for the virus to eventually disappear. This would probably take more than a year, some percentage of the "healthy" population would still die, huge amounts of people would still need hospitalization.

In the meanwhile you'd have to convince all the immunocompromised and all the old people to be nearly completely isolated during this time.

I don't see how this would work, and seems like it would likely turn out worse economically than what we're doing now.

3/23/2020 11:22:43 AM

^ it is best not to get it, and as reports say it leaves permanent scar tissue in lungs and 20% reduced lung function/capacity.

that's not joke. fuck that, i don't want it.

3/23/2020 11:24:32 AM

^source?

3/23/2020 2:10:07 PM

Not a response to anyone but I just want to make sure I don't forget to point out the significance of Trump ignoring intelligence warnings about the virus. Of course he did because those intelligence institutions spent years warning about Russia stealing our democracy and lost all credibility in the process because they came off as angry democrats trying to discredit his victory.

Democrats were impeaching Trump over a phone call during the time he should have been preparing for this virus. Of course he would behave irrationally when cornered and completely distracted. This is why you don't impeach over some technicality instead of "high crimes". Impeachment is serious and theres no way a president can do the job while looking over his shoulder because the media, "deep state", and congress are "out to get him".

The risk:reward was too high on impeachment. They were never going to remove him and you knew you weren't but they did it anyway to make headlines. The risk was making an already immature president behave even more dangerously.

Its like if you are at the bar and a drunk wild dude gets in your face and says "you want some of this?" and you fight him. Just because he deserves to be swung on doesn't make it a wise idea to do so because you're likely only going to create even more problems for you and everyone else in the bar. Walk away.

3/23/2020 2:15:16 PM

God damn, you’re stupid.

3/23/2020 2:29:49 PM

wrong thread

[Edited on March 23, 2020 at 2:40 PM. Reason : .]

3/23/2020 2:40:26 PM

^x rjr:

Quote :

""[Trump] has repeatedly raised concerns in meetings about the optics of grounded planes & empty airports, according to 2 people familiar with the meetings. He’s argued that those images would look bad for him & could further drag down the economy" https://t.co/1Py7Cx7XMf "

3/23/2020 4:03:53 PM

I really wish Trump would stop with this malaria pill nonsense. It's so insulting to scientists and doctors who actually understand how medicine works.

3/23/2020 6:22:52 PM

Jesus Christ

3/23/2020 6:53:18 PM

This is just a fucking disaster

3/23/2020 7:01:09 PM

^
This is a nightmare scenario for the country

Seems like they’ve given up on listening to any experts.

3/23/2020 7:02:41 PM

Wow, just wow. This guy.

3/23/2020 7:04:32 PM

Deborah Birx is not an expert?

[Edited on March 23, 2020 at 7:13 PM. Reason : i think you guys are confusing shutting down/opening the whole country vs the places highly affected]

3/23/2020 7:07:11 PM

Trump: "Sure, people are going to die, but we had an awesome economy just a few weeks ago that's more important, and we have to start preparing for the moment when I tell everyone I fixed the problem, because MAGA."

3/23/2020 7:09:04 PM

Quote :

"I really wish Trump would stop with this malaria pill nonsense. It's so insulting to scientists and doctors who actually understand how medicine works."

Because of his nonsense, Nigerians took it on their own and some 50 have been hospitalized.

(In many countries there you can get OTC IIANM)

3/23/2020 7:15:21 PM

Quote :

" Seems like they’ve given up on listening to any experts."

He’s a malignant narcissist who always thinks he knows better than any expert. Not sure why anyone would expect any difference in this situation.

And honestly, who gives a fuck what he thinks? State and local authorities will make those decisions. The federal government essentially is an empty shell. If anything they are actively stifling state and local responses.

[Edited on March 23, 2020 at 7:18 PM. Reason : C]

3/23/2020 7:17:04 PM