Armed Polite Society
Main Forums => Politics => Topic started by: just Warren on September 04, 2018, 06:18:44 PM
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What could it be? (https://www.bloomberg.com/view/articles/2018-08-31/why-the-u-s-economy-is-having-a-boom)
If I were forced to pick one leading explanation for the boom, I would go with animal spirits. Exuberant business sentiment and the build-up of risky corporate debt seem indicative of good times that won’t last. Hopefully that guess will prove wrong.
Trump gets mentioned twice for his tax cuts but the writer doesn't give him much credit for the boom.
I guess Trump just got lucky to have the economy booming as he is president.
If only we could have given Obama a third term, he'd be the one enjoying the political fruits of the economic upturn. Sorry Mr. Obama, we failed you in not repealing the 22 Amendment and allowing for another term in office for you to be rightly credited with this new prosperity!
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It's because of Teddy Roosevelt! [tinfoil]
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Obama ran on hope and Trump gave a large part of the country hope.
Obama was a talker and Trump is a doer.
Obama wanted change, Trump ran on what works.
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I've seen at least one talking head on TV giving Obama credit. :rofl:
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I think it's booming primarily just to piss off the anti-Trump liberals who predicted economic catastrophe when Trump was elected.
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I've seen at least one talking head on TV giving Obama credit. :rofl:
Juan (WTF?) Williams is one talking rectum that claims Obama's policies are the reason for the current booming economy.
Oc course in a round about way he is correct, The econmoy is booming because Obama's policies are going away.
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Obama was satisfied with a low growth rate and was outspoken about his success at jobs creation. But what kind of jobs did he help create? Liberals want more government control over our lives and Obama was one of them. Trump wants less government influence or control over our lives.
To say that Obama's policies primed the pump so to speak for the double growth that is happening during the Trump administration is ridiculous. The economy grew just enough to keep the tax base growing slightly and as a result more money for government spending. The elimination of un-necessary environmental regulations combined with the reduced taxes has truly primed the economic pump and it took essentially a year to accomplish that. There is no way that Obama would have supported these things.
I think a lot of priming the economic pump is rhetoric and part of the sales job that happens with politicians. There was a sense of growing optimism economically when Trump became President.
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When Obama was President, all the negatives were blamed on Bush (including in the 2nd term). Now Obama wants to take credit for stuff.
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The economy really started to take off once the country got over it's three day drunk and hangover after the 2016 election. Businesses, Job Creators, and Entrepreneurs, said "Trump!!! *expletive deleted*ck Yeah !!" knowing the .gov was about to get out of their way to produce.
And they've been on a tear ever since. Which is why the D's are losing their damn minds because they thought for sure he would be impeached the day before he took the oath of office.
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I remember when the economy started to tank here. It was early November 2007.
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Paychecks need to start booming, imagine what a 10-15% pay increase would do to GDP.
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The immigration issue has to be dealt with. I have always held that the influx of undocumented workers greatly impacted those that needed the most help;. that and a slow growth rate. But at least it wasn't a recession. With increased production and general economic activity comes an increased demand for jobs. I get emails all the time asking for me resume. I never respond. But a general shortage of trained workers increases competition and ultimately increased wages. Hopefully it will be that 10-15% number!
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Yes, the economy is good, except for the gun industry. Thanks, Obama (for 8 years of non-stop panic buying). :-*
Now I need to replenish ammo, parts, and toys.
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Paychecks need to start booming, imagine what a 10-15% pay increase would do to GDP.
Wages are always a lagging indicator, and the fed is trying to tamp down inflation before it starts which is making it hard to increase wages.
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The poultry plants started bilingual radio ads the month of the election, still running. Never heard them before. Self deportation and slowing of new migrants. Decent paying jobs, just hard. I might consider a maintenance position if the signing bonus gets bigger.
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(https://c3.legalinsurrection.com/wp-content/uploads/2018/08/MSM-Work-600-LI-594x425.jpg)
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Wages are always a lagging indicator, and the fed is trying to tamp down inflation before it starts which is making it hard to increase wages.
Since Jan this year, I've averaged only 4% growth on all my investments, I'm still trying to get back to their peak in mid January.
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^^^My 403(b) is only up by that amount as well. And this is a 55/45 split between stocks and bonds in various index and other funds.
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^^^My 403(b) is only up by that amount as well. And this is a 55/45 split between stocks and bonds in various index and other funds.
So I'm not seeing any of this growth on my end, pay raise got eaten up in health increase and increase on my pension share.
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I think a lot of the economic boom is due to the switch from an oppressive regulatory regime to one in which regulations are being rolled back at an impressive rate.
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So I'm not seeing any of this growth on my end, pay raise got eaten up in health increase and increase on my pension share.
You are paying less in taxes. Depends on your income and tax rate, but you are probably taking home $2,000-$2,500 more this year then last year. Even without a pay raise.
Blame the health increase on the failure to kill Obamacare. Unshackling insurance companies from having to offer you things like pregnancy coverage, well baby care and other mandates that you probably don't need and allowing insurance companies to offer employers cafeteria plans for their employees where they can pick and chose the coverages the employees want, just like you do with your car insurance.
And your pension share increased ?? Cry me a river, go talk to the 80% of Americans that aren't covered by a Pension. That money is still yours, you'll get it back (with interest) when you retire. The rest of us...not so much. And I'm still limited to how much I can contribute to my IRA, and there's no matching or employer contribution for that. ANd that money is still yours and you will get i
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I heard it pointed out this morning that the economy is so good, even Colin Kaepernick got a job. =D
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You are paying less in taxes. Depends on your income and tax rate, but you are probably taking home $2,000-$2,500 more this year then last year. Even without a pay raise.
Blame the health increase on the failure to kill Obamacare. Unshackling insurance companies from having to offer you things like pregnancy coverage, well baby care and other mandates that you probably don't need and allowing insurance companies to offer employers cafeteria plans for their employees where they can pick and chose the coverages the employees want, just like you do with your car insurance.
And your pension share increased ?? Cry me a river, go talk to the 80% of Americans that aren't covered by a Pension. That money is still yours, you'll get it back (with interest) when you retire. The rest of us...not so much. And I'm still limited to how much I can contribute to my IRA, and there's no matching or employer contribution for that. ANd that money is still yours and you will get i
Why hasn't the GOP majority killed Obamacare? Perhaps because they are also all in bed with insurance lobbyists?
I took this job initially at lower pay then say a job with a agriculture insurance claims or as an agronomist at the elevator, due to cheaper health insurance and a pension. Now because the past and current governor of Iowa hates unions they are slowly stripping away the benefits that covered that difference in pay. That $2500 in tax savings? That will be gone with inflation of basic needs, food, fuel, clothing and utilities.
My pension isn't mine until I am vested for seven years, I'm just 3 years into it. The increase of my share into it to offset the losses from the 2007-2008 financial crisis. If I leave this job at 6 years 11 months 29 days, I lose out.
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So I'm not seeing any of this growth on my end, pay raise got eaten up in health increase and increase on my pension share.
That has been the case last 10 years more or less. Hopefully, that is changing.
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I've seen almost no wage growth for the 9 years leading up to 2017. These last 2 years have been boom time for me. Between raises and bonuses, I'm making ~30% more than I was in 2016, and my 401k and other investments has gone up by at least the same percentage.
Of course, that 9 year period meant taking on a lot more workload while colleagues got RIF'd, which only added to the stress and uncertainty.
The amount of efficiency gains and cost reductions made by the corporation really did set it up to boom once Obama was no longer available to put his boot on the neck of businesses. Currently, we have more business than we can handle for the forseeable future.
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Why hasn't the GOP majority killed Obamacare? Perhaps because they are also all in bed with insurance lobbyists?
Because McCain wanted to get back at Trump.
I took this job initially at lower pay then say a job with a agriculture insurance claims or as an agronomist at the elevator, due to cheaper health insurance and a pension. Now because the past and current governor of Iowa hates unions they are slowly stripping away the benefits that covered that difference in pay. That $2500 in tax savings? That will be gone with inflation of basic needs, food, fuel, clothing and utilities.
My pension isn't mine until I am vested for seven years, I'm just 3 years into it. The increase of my share into it to offset the losses from the 2007-2008 financial crisis. If I leave this job at 6 years 11 months 29 days, I lose out.
That's the choice you willing admit you made. Less pay now for cheaper insurance and a pension. How much did your insurance go up ?? How soes it compare to the rest of Iowa and the US ? In case you haven't noticed, the cost of health insurance is up, everywhere, a lot. I would be willing to bet that your increase was less then the Iowa or National average increases.
And do you think you'll leave your job before your pension is vested ??
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I had not seen a raise for over five years, and my position was eliminated in a financial restructuring in April. Since there are so few jobs in my field, I am now working in a staff position for which I am dramatically overqualified for, at a different company in Seattle, with a $ 25K paycut and my commute has gone from 85 minutes per work day to four hours per work day. So in my particular narrow niche of healthcare administration, things have been flat for a long time. But it is certainly better than sitting at home, since I am too young to retire.
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How much did your insurance go up ?? I would be willing to bet that your increase was less then the Iowa or National average increases.
And do you think you'll leave your job before your pension is vested ??
% wise my share went up it went up 850%
I may leave my job before being vested, I do have a $$$ amount in my head that will make me say yes. Ag markets are just a bit soft for that amount to happen for a few years. Also depends upon how the Dicamaba soybean/cotton herbicides are labeled for the future. Same with 2,4-D tolerant beans being allowed in overseas trade.
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So did you go from $1 to $9.50, or $100 to $950? Per week/month/year?
As my host-dad in NZ says, twice (or 850% of) bugger all is still bugger all.
At one end of that scale, it's still bugger all. The other end of that scale, ouch.
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So did you go from $1 to $9.50, or $100 to $950? Per week/month/year?
As my host-dad in NZ says, twice (or 850% of) bugger all is still bugger all.
At one end of that scale, it's still bugger all. The other end of that scale, ouch.
Somewhere in the middle of those
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Enjoy the good years while they last, we'll be paying for them later.
http://thehill.com/policy/finance/406040-federal-deficit-soars-32-percent-to-895b
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Enjoy the good years while they last, we'll be paying for them later.
http://thehill.com/policy/finance/406040-federal-deficit-soars-32-percent-to-895b
What was the record during the Obama years?
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$1485 billion or ~$1.5 Trillion
2009, 2010, 2012, 2013 were all over 1 Trillion a year Deficits
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Probably more useful to view the deficit as a percentage of GDP:
https://www.usgovernmentdebt.us/spending_chart_2007_2018USp_19s2li111tcn_G0f_Recent_Federal_Deficits_As_Pct_GDP
(https://www.usgovernmentdebt.us/usgs_line.php?title=Recent%20Federal%20Deficits%20As%20Pct%20GDP&units=p&size=t&legend=&year=2007_2018&sname=US&bar=1&stack=1&col=c&source=a_a_a_a_a_a_a_a_a_a_a_b&spending0=1.11_3.12_9.80_8.65_8.37_6.73_4.07_2.78_2.42_3.14_3.43_4.16)
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I know that this contradicts the Charby anecdote. But it looks like wages are rising as we hit full employment.
https://www.wsj.com/articles/u-s-employment-costs-rose-in-the-second-quarter-1533040473
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I find the "republican" party's love of horrific deficit spending revolting.
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I know that this contradicts the Charby anecdote. But it looks like wages are rising as we hit full employment.
https://www.wsj.com/articles/u-s-employment-costs-rose-in-the-second-quarter-1533040473
Still not becoming disposable income since inflation is eating it up, still a loss.
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This seems pretty accurate to me.
President Trump likely does deserve credit for a spike in small-business optimism. Currently, small-business owners are more optimistic than they have been in nearly half a century.
And the president has increased GDP growth through fiscal stimulus. Given the strong economy, stimulus is ill-advised, but it has juiced the growth rate.
But the president’s overall effect on the economy remains to be seen. On the plus side of the ledger is the new tax law, which — despite what you’ve heard from critics — should increase investment, productivity, and wages. On the minus side are a host of threats to prosperity, including racking up debt, refusing to tackle middle-class entitlements, harmful trade policy, crony capitalism, and attacks on international institutions.
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https://www.cbsnews.com/news/trump-economy-obama-economy-administration-claim-fact-check/
Some interesting analysis there.
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Still not becoming disposable income since inflation is eating it up, still a loss.
How much more was in your paycheck after the Tax Cut??
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How much more was in your paycheck after the Tax Cut??
I already told you, my take home went down because my health insurance premium share went up. Happened right around the new tax tables were put in place.
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Just found out in the next 2 year contract that health insurance will be $1.92 cheaper a month. Trump is awesome!!! Sweet extra $23 to spend for the year.
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The healthcare industry reflects the Republican and Democrat collusion to protect/increase industry profits while providing the minimum care to everyone.
Trump hasn’t been able to do much of anything on this front due to the D’s and R’s.
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Why hasn't the GOP majority killed Obamacare? Perhaps because they are also all in bed with insurance lobbyists?
The healthcare industry reflects the Republican and Democrat collusion to protect/increase industry profits while providing the minimum care to everyone.
Trump hasn’t been able to do much of anything on this front due to the D’s and R’s.
My option,
Trump wants a second term. Taking on Obamacare, at this time, will hurt his reelection chances.
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The healthcare industry reflects the Republican and Democrat collusion to protect/increase industry profits while providing the minimum care to everyone.
Yes. The health care, insurance and drug industries is ripping us. And congress thinks that is just fine.
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Paychecks need to start booming, imagine what a 10-15% pay increase would do to GDP.
10-15%? Piker! How about just going all-in for a 3500% pay increase, like in Venezuela?
http://www.fltimes.com/tns/international/maduro-s-huge-salary-increases-force-percent-of-venezuelan-stores/article_c1492765-34d4-55dc-87bb-ec97b8abe142.html
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Just found out in the next 2 year contract that health insurance will be $1.92 cheaper a month. Trump is awesome!!! Sweet extra $23 to spend for the year.
Maybe you would prefer the previous administration. I am sure they would have told you your health insurance will get cheaper.
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I find the "republican" party's love of horrific deficit spending revolting.
I don't like that either, but trying to lay that solely at their feet is not really accurate. A handful of Republicans are the only ones I see talking about it as a bad thing anymore.
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I don't like that either, but trying to lay that solely at their feet is not really accurate. A handful of Republicans are the only ones I see talking about it as a bad thing anymore.
That's the problem. =(
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I already told you, my take home went down because my health insurance premium share went up. Happened right around the new tax tables were put in place.
That's not because of Trump. IIRC, Obam was the person that f'd up health-insurance.
Ah yes. From the "Affordable Care Act: A Guide for Union Negotiators" dated August 2012:
The Congressional Budget Office projects that average large group premiums in 2016 would be
0 to 3 percent lower under the ACA compared to under current law, while a recent Commonwealth
Fund study estimated that private coverage premiums would be 9 percent lower in 2019 compared
to under current law. [Amy says: Missed it by that much. [/Maxwell Smart voice]]
Over the longer-term, the ACA could potentially decrease premiums even
more, in part due to delivery system reforms and a reduction in the cost-shift from uncompensated
care. [Amy: Hahahahahahahahahahahahaha] While the average cost per enrollee may decrease, the total cost for some employers may increase to the degree that higher take-up rates result from the individual mandate and the
automatic enrollment requirement.
EXCISE TAX
Insurers will be taxed at 40 percent of the aggregate value of plans above a high-cost threshold
beginning in 2018. In the case of self-insured plans, the tax will be paid by plan administrators. The
cost of this tax will likely be passed on to employers and enrollees through higher premiums.
The aggregate value of a plan includes the combined worker and employer contributions to
premiums, in addition to employer contributions to a Health Savings Account (HSA), Medical
Savings Account (MSA), or a Flexible Spending Arrangement. The value will be calculated excluding
dental and vision benefits. Employers are responsible for paying any tax on the HSA or MSA amounts
and for notifying the insurer of the full cost of coverage.
In 2018, the high-cost thresholds will be $10,200 for individual coverage and $27,500 for family
coverage. The thresholds will be adjusted for firm-specific age and gender and increased by
$1,650/$3,450 for retirees aged 55 and over who are not Medicare-eligible, electrical and telecom-
munications installation/repair workers and individuals in high-risk jobs (including longshore work,
emergency response, firefighting, law enforcement, construction, mining, agriculture, forestry, and
fishing). The thresholds may be adjusted upwards initially to the degree that Federal Employee
Health Benefits Program premiums rise more than expected between 2010 and 2018 and will be
indexed by inflation in 2020 and subsequent years (inflation plus 1 percent in 2019).
6. Cost of Coverage
To avoid the tax, some employers and unions will want to make changes to their plans, such as
changing the plan type offered (e.g., PPO to HMO), making changes to benefits or cost sharing, or
improving provider networks by eliminating high-cost low-value providers.
So Charby, you probably got nailed by the Obamacare Excise Tax on Cadillac Plans.
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That's not because of Trump. IIRC, Obam was the person that f'd up health-insurance.
Ah yes. From the "Affordable Care Act: A Guide for Union Negotiators" dated August 2012:
So Charby, you probably got nailed by the Obamacare Excise Tax on Cadillac Plans.
I have the HMO family plan, the total cost is around the Cadillac plan for single.
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I have the HMO family plan, the total cost is around the Cadillac plan for single.
So the problem is that McCain *expletive deleted*ed you after Obama *expletive deleted*ed you. Trump tried to stop you from being *expletive deleted*ed.
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So the problem is that McCain *expletive deleted*ed you after Obama *expletive deleted*ed you. Trump tried to stop you from being *expletive deleted*ed.
Like I said they are in the driver's seat to fix that problem. If it really is a problem, then they shouldn't care about elections and do the right thing.
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Like I said they are in the driver's seat to fix that problem. If it really is a problem, then they shouldn't care about elections and do the right thing.
First, they are politicians.
Second, there are 100 of them and you need at least 50 to vote the same way.
Third, I think McCain voted no as much to spite Trump as anything else. Some of those people have a very inflated view of themselves (on both sides).
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First, they are politicians.
Second, there are 100 of them and you need at least 50 to vote the same way.
Third, I think McCain voted no as much to spite Trump as anything else. Some of those people have a very inflated view of themselves (on both sides).
Why I always vote the incumbent out, regardless of party.
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The dems knew the problems coming as soon as it was passed and did nothing. The cons did a half ass attempt to fix it. Follow the money.
They say the NRA has so much power but they pale to big pharmaceutical,oil, insurance and others.
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Big Pharma has the finest lobbyists money can buy, and you can see that reflected in US drug prices as opposed to the rest of the world.
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Big Pharma has the finest lobbyists money can buy, and you can see that reflected in US drug prices as opposed to the rest of the world.
YES. They spend much more on marketing, patent lawyering, and buying political influence than actually developing drugs.
I worked in small pharma much of my career- reverse engineering drugs coming off patent. The big boys had more ways of screwing us than I could count.
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I suspect that public sector jobs and benefits were a lot more desirable when Obama was in office, while private sector jobs and benefits are more desirable under Trump.
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I remember the 80’s.
This isn’t booming.
It’s not bad, but not booming.
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Takes a bit of time to truly say that the economy is "booming". It sure looks like things are going right way however. I am a little concerned that the China tariffs will slow things down a bit, but ultimately this tariff balancing needed to happen.
Obama said he laid the groundwork for the current economic climate.... he probably did in the sense of lowered expectations. :D
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I remember the 80’s.
This isn’t booming.
It’s not bad, but not booming.
I remember the early 80's, and the economy in the toilet just as I was graduating from undergrad and grad school. Worst recession up until 2008. I was reminded of that today when I read an article in today's Wall Street Journal and the American Dream: wages in real dollars have remained flat for years, and increasing household income is a function of more hours worked and more people in the household working, rather than wages increasing. Only 33% of Americans think their children will be better off than they are. My wife and I have four adult children between us (ages 27 to 34), and none of them are at the same level economically as we were at that age.
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Takes a bit of time to truly say that the economy is "booming". It sure looks like things are going right way however. I am a little concerned that the China tariffs will slow things down a bit, but ultimately this tariff balancing needed to happen.
Obama said he laid the groundwork for the current economic climate.... he probably did in the sense of lowered expectations. :D
They always talked about malaise when referring to the Carter years. I think that applies to the Obama years to some extent. He may have helped Trump by putting BigGov brakes on the economy but doing it mostly through executive actions and regulations that Trump could remove without passing legislation.
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I remember the early 80's, and the economy in the toilet just as I was graduating from undergrad and grad school. Worst recession up until 2008. I was reminded of that today when I read an article in today's Wall Street Journal and the American Dream: wages in real dollars have remained flat for years, and increasing household income is a function of more hours worked and more people in the household working, rather than wages increasing. Only 33% of Americans think their children will be better off than they are. My wife and I have four adult children between us (ages 27 to 34), and none of them are at the same level economically as we were at that age.
Just outside of Chicago the amount of construction and suburban sprawl that took place from the 80’s into the 90’s was amazing. Actually the same could be said about Chicago itself, it went from being shabby to world class during that era.
I’m just not seeing that level of on the ground economic activity.
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Just outside of Chicago the amount of construction and suburban sprawl that took place from the 80’s into the 90’s was amazing. Actually the same could be said about Chicago itself, it went from being shabby to world class during that era.
I’m just not seeing that level of on the ground economic activity.
Its happening across the border to the North.
Foxconn, plus now there's talk of high rises going up South of Milwaukee and potentially down the lakeshore to support the large number of workers that are going to be involved.
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I have my doubts that the high tax, high regulation states are going to see as much of the new construction and growth. Texas took advantage of that during the Obama years and I can't see that stopping. We are seeing real estate and home prices rise the last 10 or 15 years due to the number of people who have moved in. I will be curious to see what the next Census shows.
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I think Missouri will miss out on some of the Trump boom as well, because the state GOP can't seem to sell Right-To-Work. We have an overwhelmingly Republican statehouse, and a Republican Governor, but the masses keep voting it down.
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I have my doubts that the high tax, high regulation states are going to see as much of the new construction and growth. Texas took advantage of that during the Obama years and I can't see that stopping. We are seeing real estate and home prices rise the last 10 or 15 years due to the number of people who have moved in. I will be curious to see what the next Census shows.
That.
WI is only booming because we have had a great governor and R majorities in legislature since 2010 or so.
Unfortunately, the way it’s looking now, the next governor is likely to be a do-nothing bureaucrat who has been a life long teachers union bootlicker. I’m preparing for the bad old days to come back.
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a do-nothing bureaucrat who has been a life long teachers union bootlicker
Wisconsin: a wholly owned subsidiary of WEAC
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Wisconsin: a wholly owned subsidiary of WEAC
It once was, and probably will be again :'(
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Eat a bag of male genitalia, I now have less money than I started the year out with.
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Eat a bag of male genitalia, I now have less money than I started the year out with.
Is your employer the government?
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Ooh, the 403(b) lost $ 15K yesterday.
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I'm not worrying until the Dow drops below 20K. A year ago it was 22K. Year to date, we're still up.
One interesting point. Trump is a little wacko today. He's attacking the Fed on the interest rise, and I think that couldn't have come soon enough. It should have slowly been happening over the last five years at least, to slowly move us out of Obama's crazy time. An artificial 2% home loan is nearly as crazy as the 16% I paid on my first Mortgage.
Mortgage loans in the 5-7% range would be normal and healthy, because that also lets people (retirees, etc.) afraid of the equities market to make something more than 0.05% in a savings account, and/or make something reasonable on a T-bill or CD. It might help stabilize crazy home prices as well.
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Yeah, between my personal holdings and my 401K, yesterday was... sporty.
Just shy of $30,000 down.
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I down 20k in the last week in stock value and options positions... haven't looked at my 40K yet.
I'm still way ahead for the year.
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10k loss this week so far. GRRRRRR
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Are bonds down too? Seems like they would be if interest rates rose.
I've been meaning to rebalance my 401(k). Actually tried to last week but their computer was down or something. Should I wait for things to settle a bit? Or if everything is down, ir probably doesn't matter. (Current allocation is 80% equities and 20% bonds, going to go with something like 55% equities, 35% bonds, 10% REITs) I haven't checked the carnage yet in my accounts.
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And down another $ 8K today, making it $23K over the past two days.
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Are bonds down too? Seems like they would be if interest rates rose.
I've been meaning to rebalance my 401(k). Actually tried to last week but their computer was down or something. Should I wait for things to settle a bit? Or if everything is down, ir probably doesn't matter. (Current allocation is 80% equities and 20% bonds, going to go with something like 55% equities, 35% bonds, 10% REITs) I haven't checked the carnage yet in my accounts.
I would wait. It's not a loss until you sell.
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My 401k is down about 15K. Not really a problem yet, I've got about 15ish years to retirement. When It looks like it's bottomed out I'll pull some out of bonds and put it in index funds.
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And my 401k is down $56,000.
Add on the loss of equity from persona holdings, it's closer to $70,000.
You all know what this means, don't you?
It's time to do some more dollar cost averaging!
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After the market dropped, I just bought some more. Hope that was a good idea! :-X
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After the market dropped, I just bought some more. Hope that was a good idea! :-X
Refer to Mike's post above yours. That and patience make you a good investor.
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It's time to do some more dollar cost averaging!
Hellz yes.
I have put a good size chunk of my 401K contributions into TMO, which has almost doubled in price over the last 2 years. Having it lose 20 points is not necessarily a bad thing.
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After the market dropped, I just bought some more. Hope that was a good idea! :-X
I bought also. Every two weeks I am buying, like clockwork.
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After the market dropped, I just bought some more. Hope that was a good idea! :-X
Well, it was a great idea during the Great Recession 2007-2009 or so.
It was a hard thing to see because my 401K dropped by almost 70 PERCENT during the worst of it...
Other people (including some here) were panicking, and more than a few sold, thus absolutely locking in a loss with no chance of recovery. Panicky monkeys were convinced that it was game over, America was falling, all we'd know from here on out would be poverty, starvation, etc., etc. You know, all the talking points for the Howler Monkeys of Doom...
Those of us who held on, kept with a strategy that didn't involve losing our marbles, recovered.
I know for me the rewards of doing so were absolutely MASSIVE.
By 2012 I had recovered everything I had "lost." By the end of 2017?
(https://media.gq.com/photos/59d54114ca2599313ed61946/3:2/w_640/2017-10_GQ_Monopoly-Man_3x2.jpg)
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I usually contribute to my IRA at tax time, but I maxed it out yesterday. Prices had dropped to about what they were in June so maybe I gained a couple months.
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Down $20k as of yesterday. Grrrrr
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Just traded $15k of mutual funds for Co stock. Might add a bit more. When the stock drops this much while posting record revenue, profit and market share it's clearly not justified on the fundamentals. I'd figure on a good chance of 30-40% gains over the next 6-12 months. Plus a likely fat special dividend in January.
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The 403(b) is down $ 32K for the month so far.
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After today, the 403(b) is down $46K for the month so far.
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https://www.cnbc.com/2018/10/24/dow-poised-for-triple-digit-losses-at-the-open-after-tuesdays-500-point-recovery.html
Isn't it convenient that two weeks before the mid-term elections the economy, which has been stellar under Trump, suddenly does a nose-dive? I find that to be just too much of a coincidence to be a coincidence.
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https://www.cnbc.com/2018/10/24/dow-poised-for-triple-digit-losses-at-the-open-after-tuesdays-500-point-recovery.html
Isn't it convenient that two weeks before the mid-term elections the economy, which has been stellar under Trump, suddenly does a nose-dive? I find that to be just too much of a coincidence to be a coincidence.
One thing I'll say about Fox Business is that as much as the rest of the MSM rags on them for being in the tank for Trump, they have ALWAYS, Obama years included, given fair and balanced business coverage. They may have ragged on Obama, but if the economy and the stock market were doing good (or bad) they talked about it in an unbiased way.
On the other hand, ever since Trump, business news outlets like CNBC and Bloomberg have I don't think once said anything good about the economy. Every day they have a story about the impending disaster. Obviously stocks are going to pull another 2008 at some point, but man, when the market is doing good, at least give the market some credit if not Trump, rather than attempting to self-fulfill a crash prophecy.
Not that I mind investing more every time the sheep bleat.
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Wages are beginning to rise.
https://twitchy.com/dougp-3137/2018/10/31/ruh-roh-dems-will-be-scrambling-to-dump-cold-water-on-this-latest-proof-of-a-hot-economy/
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So with the rally the last couple days of October, my 403(b) was down a total of $ 36K for the month. At one time, it was down $ 57K for the month.
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Good thing I am a long way from retirement.
I don't have to care about stuff like this!
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At one point, my 403(b) was up $ 80K for the year and it has given back about $ 65K of those gains, with a couple of weeks left to go in the year. I am wondering if I will end up in negative territory for 2018; a fact that is keenly interesting to me with 3.5 years to go before my planned retirement. Interesting how the recent downturns has hit everything to one degree or another: stocks, bonds and short term investments, which illustrates that there is no such thing as perfect diversification that will shield you from a downturn.
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Supposedly the average after a mid-term is +30%. So hopefully 2019 makes up for an overall lackluster year.
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An hour left to go for today, but so far the Dow is on track to close at the lowest figure for the year, putting 2018 in negative territory.
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My opinion is that "the market" is not happy with the Demoncrats taking back the house.
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My opinion is that "the market" is not happy with the Demoncrats taking back the house.
Or th fed bumping the inflation intrest rate.
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Plus the Chinese/US trade war.
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Also been on a nine year run. Pretty sure seven is the more typical number. But hey, downturn from free money fueled run way overdue. Trump's fault.
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^^^Recall how earlier this year with the runup on stocks and our retirement balances, much praise to the President for causing this. So now who do we praise for the current state of affairs?
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^^^Recall how earlier this year with the runup on stocks and our retirement balances, much praise to the President for causing this. So now who do we praise for the current state of affairs?
Let me know when we have a name so I can thank them. I bought more VTSAX yesterday. :)
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So after today, I am looking at a 40% loss.
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I am officially negative for the year by $ 8000 right now. At the peak of 2018, I was up $ 80,000 compared to 1 January 2018. In professionally managed diversified index funds at about a 55% stock/45% bonds/short term investments split.
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In one of the most remarkable Abbott and Costello routines in modern times, the economic wizards at the Fed again raised interest rates on Tuesday. Their cracker jack logic for doing so is to steer America on a course toward recession so they have the tools in hand to end the recession that THEY themselves created. Can anyone tell us who’s on first?
:facepalm:
https://www.thegatewaypundit.com/2018/12/top-us-economist-stephen-moore-time-for-new-pilot-at-the-fed-jerome-powells-policies-are-disastrous-powell-should-resign/
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^^^Recall how earlier this year with the runup on stocks and our retirement balances, much praise to the President for causing this. So now who do we praise for the current state of affairs?
This is a good question. Of course, the same question can be asked of Democrats when they refuse to give credit to Republicans or blame their own.
Remember Obama claiming credit for the booming economy under Trump? How much credit/blame should he get now?
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It seems to me that interest rates have been obscenely low for a very long time now. Maybe it is really time for a change.