My 401k lost value significantly the week before the election, but has rebounded now. The slime balls who dominate the stock market must have been afraid that Harris would win. This country is disgusting.
Yeah, I laughed at the “market fundamentals” when I saw that. Same for seeing how crypto reacted. JFC.
The market is based upon vibes and has been for a while now.
I don’t disagree, but a lot of that is uncertainty being resolved (for now). Most economists liked Harris.
Oh, I know. But flighty rich conservative assholes give no shits about economists
They know they’ll win anyway. What’s going to be interesting is when they realize being a multi millionare doesn’t qualify them as rich enough for that to be true for the level of shit hitting the fan that’s coming up.
No, they threw in more money on the bet that everyone else would do the same. Nothing to do with liking either candidate.
I don’t understand. How would people investing more cause my value to drop? I’m admittedly very ignorant on the topic, so don’t take this question the wrong way.
My guess: The pre-election drop was probably the usual investor jitters before a major event. The rebound was from people betting that other people would throw in money after a Trump win. Does that make sense?
Oh yep I gotcha, that does make sense
It’s impressive we give so much control of our financial instruments to idiots who obviously don’t fully grasp how tariffs and protectionism work.
Yeah. I wish I had a choice. I always thought the stock market was a fucked up idea. Rich people gambling with other people’s money. Like you said, awesome we structured our whole system around the idea.
Makes me wonder what would happen if a government funded and operated pension fund were setup. Basically like social security but ramped up to fully cover the cost of retirement for all Americans.
I also wonder how that would realistically impact macroeconomics if the money were simply printed instead of budgeted to avoid the problems of expecting infinite growth and a growing retirement population as people live longer and populations shrink. There seems to be some growing economic questions as to if measured money printing can be beneficial to an economy, and doing so for social good, even social security if you will, might theoretically stave off deflation. It would probably become a useful dial for the Federal Reserve to adjust in persuit of its dual mandate as well, increasing or decreasing how much of the fund is printed vs budgeted as needed. Maybe that could even become a third mandate of managing the social pension fund to ensure comfortable retirements
MAGA-flation. Republican -flation. Trump is a lame duck, but MAGA will survive. Messaging that ties everything that Trump fucksup to him alone gives Republicans in 2 or 4 years room to duck the consequences (I didn’t do it, Trump did it, I don’t agree with everything he did, blah blah blah). We need to make sure to tie everything Trump does to the whole Republican party now, so they all pay the price for letting Trump take over their party and fuck the economy and everything else.
The fight for the midterms starts today. Remember that.
One thing your right. The republican party had the power to get off the trump and maga train. The target of maga is mostly uneducated people but all republican politicians are educated enough to understand what’s really going on , and they went aboard the train and never used the brakes to stop it. Now they fucked the country and yeah they should pay.
Ps I’m not us citizen but I wish you all good luck, republicans included. I also wish myself good luck as trump messes with the world and there’s a serious war
What do you mean?
Blanket tariffs on all foreign imports surely won’t raise prices on items not produced locally, thereby allowing retailers to raise prices on all items across the board.
You’d have to be crazy to believe something like that.
It’s obvious. But don’t worry, MAGAs will find a way to blame it on Obama.
“It’s the Democrats’ fault because they let Trump win!”
That will be the tack the “liberal media” will most likely take. Also, Tucker made the statement that he will be forced to embrace fascism, because of the Democrats being so “extreme” or some such shit.
What have Democrats been “extreme” on, I’d like to know. I mean actual politicians.
“Millions of Americans said no let’s not prevent a trump victory, so this is on them, folks!”
at this point, if i get to see them suffer, then whatever
Yeah no kidding. I have ample means to weather the economic shitstorm that his voters just ushered in, and I look forward to seeing every pro-Trump bum in my life wallow in it. That probably makes me a bad person, and it certainly revokes any “working class solidarity” credibility I ever had, but these people will never learn to help themselves and I don’t care anymore.
I’m worried about my retirement savings. I hope to retire in 10 years and if i lose too much in the next 5, i don’t have much time to build back up. Are you moving money?
I mostly agree with ski11erboi’s response. I’m actually not overly concerned with market performance - I would be surprised if Trump’s handlers allowed him to do anything so destructive to their interests. But if you think the prices of gas and eggs are bad now, just wait until we have a mass deportation and tariffs on imported goods.
If there’s anything to be concerned about as you approach retirement, I’d put social security at the top of the list.
Yeah. Worried about having to dip into savings for monthly expenses. I’m in Texas, so energy costs are always a concern. As you mentioned, concerned about delays and decreases in social security and Medicare in the future. I guess I’ll leave money where it is, try to reduce spending, and try to increase liquid savings.
I’ve been telling myself that those of us with retirement savings will be fine. I actually think the market will thrive. Isn’t that’s the true goal of the republican party? But the people living paycheck to paycheck without any form of savings or investments, who happen to be the ones that voted him back into office, are screwed.
At least that’s what I’m telling myself.
