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Yes, markets correct. But the current 'correction' which doesn't seem to want to find a bottom is all man-made.
It's the frickin' trade policy. The market got crazy when Trump announced tariffs in February and has never regained its footing since. Ballooning deficits from irresponsible tax legislation and interest rates were bad enough, but we could have probably handled that.
TARIFFS were the final nail in the coffin - offsetting most of the hoped-for growth or benefits from the tax cuts. Trump essentially shot the country in the foot.
On top of that, he's erratic, unpredictable, irrational, and vindictive. The markets don't like that. I am very concerned we're headed for scary bad times in the stock market until Trump is gone.
Looming slowdown coupled with ballooning deficits spells trouble. We're piling up debt at a much faster pace - because of the tax cuts.
Bonds were a loser across the board, so you must be a good stock picker if you've seen gains this year. In 2017, my gains were over 22% - this year I've given back about 3% - not awful - but current market behavior scares the h*ll out of me. I've not forgotten how the market crashed in 2008-2009.
That said, with all the damage being done internationally, will the market bounce back yet again - or will we have a lost decade similar to Japan? That's my worry.
These are not ordinary times. Trump is not a normal president. Therefore, past precedent is out the window. I wouldn't be nearly as worried about a normal recovery/bounce back if Trump were not at the helm.
People who don't need a 401K (multi-millionaires/billionares, etc) don't care.
People who don't have one because they're not employed in a position that offers one and/or are spending every dime of their paycheck (or putting money in a sock drawer because they do not trust the gubmint) are not caring about 401ks. They like to pretend they're getting rich off Trump policies, but I do not think that 50 bucks extra a month is caviar cash.
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Yeah, the markets have been in free-fall since the Democrats took the House back.
Any other news to report?
The democratic congress will not be in office until January. Any policy expected to be enacted by the democrats is a long way down the road. So you are telling me that the stock market purposely gave up two months of gains simply because the Democrats won in November? Not likely.
Back in late January President Trump said "have you looked at your 410k?". I am looking at it now and it is down $260,000 from then. Haven't heard boo from him since.
Took credit in January wonder where he stands today? Who's going to get the blame, my bet he'll say the fed and the witch hunt. Couldn't be the tax cut that created no new demand or his trade policy.
I'm lucky - only lost about 150K.
But there may be more to come. That's exactly what happened to anyone and everyone who cast their lot with Don the Con.
Trump is reportedly very very angry and unhinged now. I have always claimed that even nukes flying are not out of the question. We are seriously talking about an individual that couldn't be trusted to babysit, let alone control weapons.
And, yes, I feel as bad for the right who is getting trumped too. Father forgive them because they either didn't know what they did....or, their greed and selfishness caused the perfect storm.
Looming slowdown coupled with ballooning deficits spells trouble. We're piling up debt at a much faster pace - because of the tax cuts.
That said, with all the damage being done internationally, will the market bounce back yet again - or will we have a lost decade similar to Japan? That's my worry.
These are not ordinary times. Trump is not a normal president. Therefore, past precedent is out the window. I wouldn't be nearly as worried about a normal recovery/bounce back if Trump were not at the helm.
It will likely be at least a couple lost decades since the total return of the indexes from 2000 to today is less than 5% per year. Take inflation out of that and it's maybe 3% at most. Now this.
If Trump resigns or is thrown out I think things will change - yes, even with Pence who is not exactly schooled in economics. But, as you say, Trump is unique. He's that kid who spits on the bike seat so no one can have a ride.
We'd be much better off with no POTUS at all.
Remember, no money made = no taxes paid on it. It also means the holidays won't be as merry for many businesses like Apple. That will mean further pain....until and unless Trump goes.
I can't imagine that anyone would get on an aircraft if Trump was the pilot. By the same token, they won't jump on his train because they know it is dangerous.
Being as this is my first year of no income (counted on my savings, IRA, etc.), it's not a good thing. But...I'll be OK in any case because I am conservative.
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