NEW YORK - President Donald Trump’s tariffs have spooked investors, with fears of an economic downturn driving a stock market sell-off that has wiped out US$4 trillion (S$5.3 trillion) from the S&P 500’s peak last month, when Wall Street was cheering much of Mr Trump’s agenda.
Good thing I sold off my entire 401k last month 30 years early in anticipation of the market taking a massive dump
Good job. For what it’s worth you should still take your employer match and invest it all outside North America. Don’t leave that free money on the table because the US is headed for a depression.
I sold the stocks we had for a down payment on a house late last month too. I have avoided $9000 in losses SO FAR. I was talking about this a couple days ago and was essentially told I’m an idiot for trying to time the market instead of riding the dip. Then yesterday early morning before open I was told I got lucky and better buy back in to lock in my winnings. $5000 of those losses would have occurred yesterday if I’d bought back in. I’m not putting money back in the casino until it’s under new management.
Glad you got it out! And glad you didn’t buy the dip before it dipped even harder. Definitely don’t think now is the time to be playing the stock market game unless you have extra money laying around to gamble with.
This means that you have cash now? If so, isn’t it dangerous if hyperinflation comes into play? I am just curious, not trying to blame you for anything
Whether it’s a crashing stock market or inflation both are going to cause your money to become worthless and both can be fixed with time but with crashing stock market if companies don’t rebound in the end and go out of business during the depression then your money is lost forever. At least with inflation there’s a chance it’ll resolve and you’ll have money again in the end.
Thank you for the explanation
I certainly do not. I’ve been unemployed for a month, living on the house money and by wife’s income. I tried to tell her yesterday that I’d saved us more money than I would have made working!
Trump is bankrupting ANOTHER CASINO?!?
Art of the Deal, go!
Somebody else called it his casino boss battle. I like that. Can the heroic Cunt d’Orange bankrupt the biggest casino in all the lands? Find out this week on Great Again!
Lol, this motherfucker’s on a casino bankruptcy boss rush! Love it!
I feel like it’s about time to shift money into gold securities or something tangible as our reputation based currency systems take a beating.
I thought about precious metal securities. I wonder if you can buy rare earth securities yet? I’m honestly thinking about getting the physical stuff and hiding it. Insane. I wouldn’t have believed I’d be thinking like this half a year ago.
It’s all about what level of collapse are you trying to shield yourself from. Like if you’re talking worldwide mad max, no electronic claims to wealth will be honored, only physical substances, like actual gold, water, guns.
But if it’s just a economic recession or depression and we aren’t seriously talking about countries going away… Yeah I’m thinking gold securities, lithium probably. The guy in The Big Short started started buying up water next, for what that’s worth.
In a Mad Max scenario gold will be worthless compared to fuel, water, food, medical supplies, weapons, and drugs.
Hey, even in medieval times gold was currency! I don’t know why, except for is shiny.
It was rare. That’s it. Also easily made into coins.
Things like that would be useless in full collapse.
So you think that the world will collapse in such a uniform manner that it will collectively decide that something we used as currency for thousands of years will no longer be used?
I’m not saying guns, ammo, good, and water will not be worth a ton. But that’s doesn’t necessarily mean gold wouldn’t return to being currency. Especially if the price of gold rises as the world collapses and it is used to purchase those other necessities. Like those other things are bulky. If say a gold coin can get me many gallons of water, the coin becomes valuable as a relatively easy to transport token of value. Isn’t that all currency has ever been?