The stock market hasn’t gained a point in 49 months

401k holders will take it in the butt. If you can't trade on your account you are ficked. I know people holding ge stock in a company matched 401ks that at one time were worth 750k. If you can't control it and you are locked with a company stock in your matched 401k ouch. Kroger's match on their stock option is that way. Good company to work for.
 
dandyrandy said:
401k holders will take it in the butt. If you can't trade on your account you are ficked. I know people holding ge stock in a company matched 401ks that at one time were worth 750k. If you can't control it and you are locked with a company stock in your matched 401k ouch. Kroger's match on their stock option is that way. Good company to work for.
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I'm not posting this to inform but to wonder at the lack of information and poor quality. Unlike others, I'm not talking about my personal finances (that's just tacky), I'm just talking about the situation and how it is being reported. It looks as if there is some mighty shoddy reporting going on. What am I missing here?

Here are 5 reasons the stock market is having its worst decline since 2008, and only one of them is the coronavirus

www.marketwatch.com

Here are 5 reasons the stock market is having its worst decline since 2008, and only one of them is the coronavirus

The virus has virtually crippled swaths of manufacturing in China, the second-largest economy in the world, and the country is a big buyer of products and...
www.marketwatch.com www.marketwatch.com

They cite:

COVID-19 infects confidence
The 2020 election
Lofty valuations
The bond market
Recession fears

Other than COVID-19, none of the other factors they cite are good reasons for a sharp decline. The election is hardly a reason whatsoever. The bond market is the same today that it was a year ago except bond yields have dropped due to COVID (investors always park money in safe havens during market corrections). Given that manufacturing is already in recession, a nasty full-blown recession was obviously looming. Trump was priming the system for it to happen after the election. Ahead of the election, the only growth seen for more than a year was due to growth in consumer spending. That spending was made possible by debt driven growth in temporary service sector job.

COVID triggered the inevitable recession a few months to a year earlier than it was set to happen. But any shock would have done the same. Given how fragile our economy was, this should have come as no surprise yet here we are, press and all of Wall Street are acting like a waking Rip Van Winkle.
 
TacoMac said:
Then you're stupid.

Getting a tax refund doesn't mean you're a financial genius. It means you're a blithering idiot.

It means you gave the government an interest free loan and robbed yourself of income you could have invested and made money on.

Idiot.
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Great point. Most Americans dont realize that.
 
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