My 401k today is $520 less than what it was Jan 21st. I put in almost $600 every 2 weeks.
That’s a good chunk of change that just disappeared. I can only imagine how much someone with a bigger retirement account than I have is hurting.
It disappeared now. When COVID hit I upped my contribution just to max out when the market was at a low.
The only way for the 401k to disappear entirely is if the entire economy is royally, never before seen fucked and completely collapses. At that point retirement if probably not a possibility anyways.
Any other situation you’re essentially ‘buying the dip’ and will see the returns years from now. Although if you’re looking to retire anytime in the near future it will likely be a huge hit on what you can take out.
deleted by creator
I’m not sure if you’re a Boomer who had an actual choice, or a Gen α who has an excuse for not understanding.
Looking at your comment history, you’re an idiot lol
Y’all
Meh I went through the same shit in 03, 08 and Covid. It hurts but keep depositing and/or increase your contribution. Your future self will thank you.
Oh I’m not stopping. Just pointing out how this is hurting people’s retirement.
I sometimes wonder if this time is a bit different, but we’ll see. I don’t know what qualifies as a safe harbor if donvict’s wrecking crew end up destroying the entire fabric of why people invest in the U.S.
Meaning, the dotcom bubble, the early 90s recession, the 08 real estate bubble, the gigantic V that was early covid…those all still had a government that was looking to sustain most or all of our institutions.
Donvict and his crazy Project 2025/fElon dogebags are running around and ripping out the very infrastructure…
Time for the rich to buy stocks on discount.
That’s not how it works. Stock prices don’t fall below the level that rich people are willing to buy them at, specifically because rich people buy them at that level.
Idk, when do they buy? This shit has to go way more south before our dear great leader decides to undo the tariffs, right? And if he doesn’t undo them, when would it go back up? We’re still in a race to the bottom…
Knowing Trump’s irrationality, he just wants to erase all the market gains from when Biden was in office. That means he’ll keep at it until the DOW looses another 10,000 points or so.
Well I just bought some inverse SP500 x3 ETF so I’ll hold onto that until we reach the new great depression
LOL, good luck with that.
(Inverse ETFs, especially leveraged ones, don’t work the way you think they do. They’re not really intended or suitable for anything but day-trading.)
Even if he does undo them there’s no telling when he’ll put them back in place again on a whim. Everyone abandoning the market isn’t going to come back unless Trump gets Epstein’d or Luigi’d.
I lost a lot of money today, but I’m still up from 6 months ago.
This is going to last a long time and the recession is when they’ll buy.
Assuming the US can recover…
If it doesn’t, the rich will still be fine. Unlike most Americans, they can diversify outside of the US.
Normally Trump does what’s best for the ultra wealthy, but de-dollarization of the world economy appears to be good for nobody in the USA. I have no clue what they’re trying to do, I suspect he’s just lost it and there’s nobody left to tell him these tariffs hurt his croneys too.
At this point I wouldn’t be surprised if we’re already too far along to save the dollar’s position globally. Globally that’s probably a good thing, but for any of us in the US it’s decidely not.
deleted by creator
with this move they seem to want to stop the rich from paying taxes and replace them with tariffs. the poor will end up paying them.
he hinted at it a few times. to be clear, i think its still dumb as fuck but here it is.
As confusing as it is this does still all fit into Theil’s plan to isolate the US in order to create a corpo-fascist state and bring back apartheid.
I have no clue what they’re trying to do
They published it online. project 2025. They straight up told you what they’re going to do. Add in pooty, whose goals align a great deal, and that’s it. How do people still not get this, they told you what they’re doing.
I think it’s more to the point to say he’s trying to destroy America, period.
It’s what Putin has been using his puppet for this whole time.
America falls apart, Russia gains.
What does Project 2025 have to say about tariffs?
Project 2025 is split on the issue of foreign trade.[109] Mandate author Peter Navarro advocates what he calls a fair trade policy of reciprocal, higher tariffs on the European Union, China, and India, to achieve a balance of trade, though not all U.S. levies are lower than those of its major trading partners.[126] On the other hand, Mandate author Kent Lassman of the Competitive Enterprise Institute promotes a free trade policy of lowering or eliminating tariffs to cut costs for consumers, and calls for more free trade agreements.[126] He argues that Trump’s and Biden’s tariffs have undermined not just the American economy, but also the nation’s international alliances.[117]
The first guy won apparently.
Right, he did, but here’s my point: Project 2025 doesn’t actually come out clearly for or against tariffs. So in so far as “they wrote it all down in Project 2025 and told you exactly what they’re going to do”, that’s just not the case for tariffs. And even the guy in favor of tariffs wasn’t talking about such broad and strong tariffs all at once.
In other words, this is Trump’s plan on his own.
Yeah, that’s just Trump. He likes to be vengeful and a bully, using tariffs like a stick to beat others info submission. But he doesn’t seem to know when enough is enough.
It’s good for them when they can buy other people’s stock at fire sale prices, it’s less good for them when their own stock is reduced to fire sale prices.
It’s only a concern if you need to sell during the downturn.
And it isn’t good for them if stock growth doesn’t happen because American companies lose market share.
US fire sale!! 🔥 every stock must go! 🔥 15-25% off priced to sell! 🔥 hurry, these deals won’t last!* 🔥
*profits not guaranteed. in the event of mass economic collapse, cross your fingers for a bail out. This is not financial advice.
3% It dropped 3%.
3% = DJIA just closed its worst day since June 2020
Burn baby burn
yes bring on global depression because no one remember 100 years ago…
If the rest of the world can reconfigure its trade (which it’s in the process of doing), it’s going to impact the US a lot more than anywhere else.
Dow drops 1200… so far.
Dropped 1,679.39 by the end of the day today.
I wish there was some way to have seen this coming! Lol
Old stock trader wisdom: don’t catch a falling knife.
You don’t know how low things can go. We’re merely 100 days into the Trump presidency.
GDP and EUR are pumping, time to jump ship.
It’s not even 100 days… 73 days since Jan 20th
Counterpoint: BTFD
1500!!!
*Trading partner tariff rate is calculated by the White House to include “currency manipulation and trade barriers.”
This needs to be way fucking bigger than a tiny light grey caption under the image, AP. “Trading partner tariff rate is pulled directly out of the administration’s collective rear end”
There’s always a tweet.
This is apparently a fake tweet. An archive of the actual tweet corresponding to that datetime is here.
Looking at that archived Tweet, I forgot what it was like for Twitter responses to not be unhinged
I forgot what it was like to actually be able to see Twitter responses.
He says enough horrible stuff to not have to fake any of it
Thanks, though correct grammar kind of gave it away already.
Down 3,163.27 since inauguration.
I didn’t have much in but I’m divesting from all stocks and cashing out. Everyone should sell it all and let the market crash.
I sold out everything back in Feb. I even processed a 401K to a roll-over IRA just so I could hold the money in cash. The money-market account is paying around 4% right now.
This orange moron is going to cause a massive worldwide recession and a depression in the U.S.
I’ll reinvest in a few years.
Get some EUR, GBP, gold, bitcoin. Dxy is down ~10% since Feb. USD to 0
This is what Trump wants. He wants the market to drop and/or a recession. Why? To force the Fed to drop rates back to essentially zero. Once that happens, expect a blistering turnaround in the market. Everyone and their great aunt will be borrowing money at ultra low interest to buy stocks. The stock market will explode, maybe crypto, too. Inflation will skyrocket. It will be nuts.
They’re already shilling crypto hard and threatening to reneg on US debt. They want to crash the economy, do a full venture capital takeover and set up autonomous states in preparation for the coming inequality revolution.
It’ll be harder to recreate the inequality we’ve seen since the 1970s without the Cantillon effect.
Were passed the inequality we seen in the Great Depression on many fronts.
The trump regime was designed to TANK the US economy so that stocks, businesses, and industries can be bought by billionaires at rock bottom prices.
All is going according to plan.
A lot of people might decide to violently resist such an eventuality. Things can quickly go off the rails.
Remember that despite the rule of law no longer applying to the rich and powerful, the laws of physics continue to apply.
A lot of people might decide to violently resist such an eventuality
I don’t see a lot of evidence to suggest that’ll happen.
Its Russia in the 90s all over again. Must be a coincidence that the Russian mafia-turned-regime they’re so chummy with, got its foot in the door and secured its power through an almost identical move.
Im wondering if America will have its equivalent of the 1999 Apartment bombings.
…what were those
False flag attack orchestrated by the FSB of. The orders of Putin when Putin was still officially Boris yeltsins second in command.
It was used to justify breaking the truce with thr chechen separatists. And start a new war.
It is often cited as the main incident that allowed Putin to seize power in Russia. Yeltsin was dreadfully unpopular. Putin made himself look strong by playing the role of the patriot who was going to flatten the terrorists for what they did.
It was all a scam. Everything Putin has ever done has always been a scam
https://en.m.wikipedia.org/wiki/1999_Russian_apartment_bombings
Interesting read
Even the wealthy have to think about what is happening right now. To have their company’s value go to shit overnight isn’t winning him any fans.
No, that wasn’t the point.
There were 2 goals:
-
Cut spending to 0 so they could cut taxes (cap gains to 0)
-
Isolate the US from the rest of the world, this is what Putin cares about the absolute most. If we’re out of the way he sees Russia as unstoppable (which is stupid, they can’t beat any country with functioning tractors).
-
