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^^This. We were recovering fine but he pushed it into overdrive. Now everyone is selling and in a panic - and it's not just the US - it's rippling around the world. Rates going up makes it more expensive for businesses to borrow - it hits the building and real estate market especially hard.
Not a panic. But I do worry about this as China has a massive debt issue that could certainly cause a crash. There was a lot of debt created that will start getting more and more expensive globally.
Specifically, people who sell based on MSM scares don't know what they are doing.
Generally, people who sell at short dips don't know what they are doing.
Unless you are essentially an inside trader, doing anything but buying indexes and holding through even major dips is almost a surefire way to lose your money. Unless you are bright, with a hefty stake, and can teach yourself options trading.
If you have money in the stock market, comfort yourself by going and studying every historical dip in the stock market since its inception. It has never not recovered.
If this nation ever implodes politically in a real way (ie: civil war), then you may see a long-term decline. But until then selling the S&P is an indefensible financial decision unless you sell on an upward trend in anticipation of a downward trend (selling high and without loss to repurchase low). But I don't recommend trying that type of prediction. The only way to gain he highest chance of long term winning is to buy and hold.
Another headwind, aside from debt getting more expensive as mentioned in my post above, is an aging demographic nearing retirement who may decide it's time for profit taking.
Frankly, I think China will be the source of the next major market correction.
The market needs to be healthy, it doesn't need to be "the highest in 20 years and not stopping yet". The interest rates need to come up. And hopefully someday the magic of compounding interest will once again be something people rely on to help create their personal wealth.
If you want to understand the stock market and the economy, watch the business and finance shows and read business websites. They actually know what they are talking about, not like the talking heads on lamestream media who are uninformed and hysterical.
I always get my investment advice from someone who throws around the term “lamestream media”.
I think it is spot on. We have a thread about Obama being the cause of the recent market downturn. Any reasonable and educated man would see that as nonsense. Apparently you disagree. Provide evidence.
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