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Did the Tea Party not think their action to shut down the government would have consequences on financial markets? We were starting to rebound economically, but....
They were so giddy when it was announced that the government had shut down. In light of how this is going, do you think things will get better concerning financial markets or worse as we approach the debt ceiling battle? What should one do about their 401 Ks at this time?
Did the Tea Party not think their action to shut down the government would have consequences on financial markets? We were starting to rebound economically, but....
They were so giddy when it was announced that the government had shut down. In light of how this is going, do you think things will get better concerning financial markets or worse as we approach the debt ceiling battle? What should one do about their 401 Ks at this time?
I can only give my modest opinion but i believe things will get worse before it gets better. We are far from hitting rock bottom since the Dems and Reps dont want to budge. As we approach the deadline i believe the market trembles will set in on the inexperienced people (like myself) and people will want to sell, sell, sell. You need to have balls of steel or really know what your doing to stick in the market at this time. The only things i see moving are based on earnings and market press. There is a little kick in the healthcare from the AFCA.
The responsible traders will move their 401K and positions into money market until the dust settles. Unless you know how to maneuver your funds into high yield securities (i surely don't lol).
Once the dust has settled the market will have a feeding frenzy with all the low prices we are seeing.
First, the government was shut down because the Democrats and the President refused to negociate. All previous CR's were negociated.
Second, the markets are going to get worse since the President made a point of going on tv to tell the public that "the markets should be worried" which is unprecedented.
Third, this thread will probably get thrown out for being political to begin with.
Did the Tea Party not think their action to shut down the government would have consequences on financial markets? We were starting to rebound economically, but....
They were so giddy when it was announced that the government had shut down. In light of how this is going, do you think things will get better concerning financial markets or worse as we approach the debt ceiling battle? What should one do about their 401 Ks at this time?
I could understand if their proposal was directly related to our debt, but it's not. If they proposed more spending cuts, I would understand where they are coming from. However, they are setting a terrible precedent using Obamacare, a piece of legislation they don't like to essentially hold our economy hostage. Will they tie Roe v. Wade and the debt ceiling next time? Our economy has been improving nicely and so has many economies around the globe. This once again is a self-inflicted wound that makes the rest of the world question how much longer will the US lead the global economy.
I could understand if their proposal was directly related to our debt, but it's not. If they proposed more spending cuts, I would understand where they are coming from. However, they are setting a terrible precedent using Obamacare, a piece of legislation they don't like to essentially hold our economy hostage. Will they tie Roe v. Wade and the debt ceiling next time? Our economy has been improving nicely and so has many economies around the globe. This once again is a self-inflicted wound that makes the rest of the world question how much longer will the US lead the global economy.
Exactly - I wonder what would happen if democrats were doing the same thing, but regarding legislation on gun control...
What should one do about their 401 Ks at this time?
Nothing at all. Keep adding to your 401K every payday and stop worrying about all this temporary Washington BS. A few months from now, this will all be forgotten and we'll have a new set of "all important" reasons to worry about the market. If Washington causes a significant market decline, use it as an opportunity to buy some good stocks when they're on sale. This too shall pass.
Nothing at all. Keep adding to your 401K every payday and stop worrying about all this temporary Washington BS. A few months from now, this will all be forgotten and we'll have a new set of "all important" reasons to worry about the market. If Washington causes a significant market decline, use it as an opportunity to buy some good stocks when they're on sale. This too shall pass.
I don't know tk. The uncertainty about the looming debt ceiling fiasco makes this pale by comparison. What other stunts do the TP'ers have in mind? I wish they didn't do these things on our dime.
Let's not be so one sided here. I agree that it's stupid for the Republicans to be asking for a delay or defunding of Obamacare. Obamacare is what it is, and it's going into effect wether they like it or not. The Republicans should give up on Obamacare, pass a temporary CR and begin the debate about the debt ceiling. They SHOULD be playing hardball over the debt ceiling, and Obama and the Democrats should be willing to negotiate to get the debt ceiling raised. Both sides need to get together, with each giving and taking, until they reach a deal. This is how Washington was designed to work.
As wrong as the Republicans are for demanding changes to Obamacare, the Senate Democrats and the Administration are equally at fault for refusing to negotiate with them. And as "CEO", President Obama's arrogant, unmoving position has led to the current stalemate. Reagan, both Bush's and Clinton would have gotten a deal done.
But, with that said, stick to your investing stategy and use any Washington induced stock declines as a buying opportunity. Good luck!
Let's not be so one sided here. I agree that it's stupid for the Republicans to be asking for a delay or defunding of Obamacare. Obamacare is what it is, and it's going into effect wether they like it or not. The Republicans should give up on Obamacare, pass a temporary CR and begin the debate about the debt ceiling. They SHOULD be playing hardball over the debt ceiling, and Obama and the Democrats should be willing to negotiate to get the debt ceiling raised. Both sides need to get together, with each giving and taking, until they reach a deal. This is how Washington was designed to work.
As wrong as the Republicans are for demanding changes to Obamacare, the Senate Democrats and the Administration are equally at fault for refusing to negotiate with them. And as "CEO", President Obama's arrogant, unmoving position has led to the current stalemate. Reagan, both Bush's and Clinton would have gotten a deal done.
But, with that said, stick to your investing stategy and use any Washington induced stock declines as a buying opportunity. Good luck!
I think paying hardball over the debt ceiling is even more moronic than Republicans still trying to impede the ACA after trying to repeal it... 42 times...
The money has been spent already. If they wanted to really do something then they should have taken up the current issue months ago and actually come up with a proper spending bill, minus their hardons for impeding ACA (despite what everyone keeps saying, I find it doubtful a majority of Americans want it repealed. Someone putting effort into better refining it I could believe).
IMO, the debt ceiling needs to be abolished. It's just another pointless thing for them to be childish over. If people want the debt to stop going up, then stop spending the money with the budget. You have to pay what you owe, so the debt ceiling seems pointless.
I am sort of interested to see if the GOP puts up a stink on the debt ceiling, the possibility of the President exploring the perceived thought that the Fourteenth Amendment can allow him to raise it regardless.
Then back on topic... I second treasurekidd's opinion regarding peoples current holdings, stay the course and ignore the short term garbage. If you have sound holdings, don't worry about this fuss, and if presented with a buying opportunity then take advantage of it.
hopefully it dips a decent amount so i can load up at a discount
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