2016 Postmortem
Related: About this forumStock market free-fall
I have a feeling this will be hurtful to our chances in November.
Historic NY
(37,449 posts)I've taken a huge whack.
a kennedy
(29,606 posts)sick and wrong.
Lns.Lns
(99 posts)I bet there will be a big upside surprise after the election... if the greed allows them to hold out that long.
tridim
(45,358 posts)Is this another major Obama disaster?
Dawgs
(14,755 posts)tridim
(45,358 posts)Is this another major Obama-tastrophe?
Dawgs
(14,755 posts)Otherwise you just look like a fool.
tridim
(45,358 posts)I want to know why a stock market drop (that happens frequently and regularly BTW) always results in predictions of Democratic doom.
We are blamed for drops and ignored for gains.
AverageJoe90
(10,745 posts)mgcgulfcoast
(1,127 posts)everything i am reading is that the economy is looking better and better. Obama isnt causing this. He has done a great job.
Man from Pickens
(1,713 posts)what has been driving stocks has been hot Fed money gushing through the system in incredible amounts
if even that is no longer working to prop that market up, the problems have become too serious to paper over any more.
Lns.Lns
(99 posts)The Fed has been dropping it's purchases since the beginning of the year. The taper concludes this month. This has not roiled the markets until now, right before an election. Whether it is morally right or not depends on whether you would have preferred that hundreds of millions of people would have felt the effects of a Great Depression? Wasn't your 401K 40% drop enough? Wasn't your property value drop of 30%+ (depending on where you live) enough? Wasn't credit seizing enough to warrant reaction? Europe (or should I say Germany) did not fall for the insidious trap (according to you) of QE and look what happened to the periphery. Some countries had 25%+ unemployment, stagnate economies, etc. Was that the proper way to handle it? They still haven't recovered.
I am not saying it is right that people get rich off the woes of a country... but they do and always have. But what are the options here? Property values declines of 60% for 20 years like during the depression? What about people's retirement 401K's... should they have been completely wiped out for the sake of principle? Don't get me wrong, going to 401K's for retirement savings was in my opinion just a big give-away to money managers with regular people paying the price for it, but just like QE, that is what we have, not what we should have. How about we work to change these things for the future before the next big greedy crash? It requires that people engage.
BTW, because I think this is artificial, I am looking at this as a buying opportunity in the very near future.
mgcgulfcoast
(1,127 posts)we have gone from about 17,300 to about 15,980 now.
I would say it's another Republican disaster... conceived and executed in the shallow little minds of the right.
DFW
(54,268 posts)Oh, dear, the sky is falling.
Some 16 years ago, a wise friend told me to put my life savings into a stock that cost $33,000 a share. I said he was nuts, and what stock cost $33000 a share anyway? He said it was called Berkshire Hathaway, and I'd never regret it. He's also probably the smartest guy I know, so I emptied my savings and bought a couple of shares, threatening him with dire consequences if he was wrong.
Those shares just "plunged" from $212,000 to $200,000--EACH. Boo fucking hoo. I'm sure there are plenty of Republicans out there that are sitting very pretty even with today's slip, and are nothing but thrilled that they got to reap the fruit of a Democratic President--again. Not that any of them will ever admit it in public.......
upaloopa
(11,417 posts)little or nothing to do with our normal every day lives. Yes my wife has a 401k and I have a defined benefit plan. The ups and downs of the DOW will not impact our lives as much as some right wing politician bought and paid for by a stock market high roller trying to take our retirement income away.
DinahMoeHum
(21,771 posts). . .specifically the mini-S&P 500 futures options. Bought 2 December puts back in July, options expire in mid-December.
As it stands right now, I'm staring at a profit of at least twice my investment.
upaloopa
(11,417 posts)I am more concerned about what is going on with them then I am about any investors.
Lns.Lns
(99 posts)They have just about squeezed everything out of our kids future in the form of education loans. Kids can't afford anything now that helps a thriving economy. They have been eyeing retirement money for a very long time... how many times have they tried to privatize SS? They got part way there on retirement income with 401K's... Medical, they got part way there with Medicare Part C. If we don't get them out of office they will use up this country and throw it away. It is just never enough... if there is a pile of money somewhere, they want it no matter who it hurts.
Lns.Lns
(99 posts)blkmusclmachine
(16,149 posts)FSogol
(45,435 posts)Lns.Lns
(99 posts)Turkey deals anyone?