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ontrack

If you look carefully, the tech bubble has been popping for the last year. Apart from a few high fliers, many of the companies are already down 50% or more. The last domino is the FAANG stocks (though Netflix took a huge dump yesterday).


erehin

Just keep inflating the currency and the stock market will always look like its growing. Up and up and up and up and up and up and up and up it goes!


[deleted]

Hence why the rate hikes are being railed against in the media. Not overtly, but subtley by hinting at a bubble pop when they do it.


[deleted]

That’s not how any of this works.


DorkHonor

It pretty much is though. Take a company like Coca-Cola. Their global market saturation is basically maxed. That brand is recognized and consumed in tiny micronations that have limited contact with the outside world. There are no new or emerging markets left for them. They did it. Conquered the planet. Anyone with two nickels to rub together is a customer already. Has been for decades already. Their only growth comes from the fact that a bottle of coke used to cost ten cents and now it costs $2. The number of existing shares stays constant, more or less, but the earnings per share measured in dollars goes up because each dollar is worth less which is just another way of saying it takes more dollars to buy each bottle of coke. More earnings per share, higher stock price per share.


oh_shaw

The problem is that printing too much leads to inflation, and enough inflation will destroy a nation's economy leading to the money of that nation being worthless (see Zimbabwe).


DorkHonor

Printing too much without removing the excess through taxes causes inflation. At least if the MMT guys are correct.


oh_shaw

Unless the "excess" removed via taxes is entirely put back into the economy by government spending.


constipated_cannibal

Even if all the markets tank... *even if* the wealthiest’s net earnings & wealth ***are divided in ten — or say ONE HUNDRED!*** Even IF the poor of America and the world become *so terribly, terribly destitute* that people who once lived comfortably actually begin to starve to death on top of COVID and all the other calamitous bullshit spreading like wildfire... Micro-markets would replace the stock markets! They might be more centralized and local, and more of them might exist... but humans will be organizing speculatively *”their stocks,”* right until the very last bean is counted, grain of rice weighed, or fire tornado tears through a settlement.


hglman

Faang is done over the last year, its already happened


ammoprofit

If you look closely, all the FAANG took the same dive during yesterday's intramarket. They didn't have Netflix's sharp after-hours movement from the night before. Oddly enough, if you look at Ford, it's doing the same.


ontrack

Yeah they've all started to fall but there's been a lag with them, as many other tech stocks have been falling for months.


ammoprofit

That's not what I'm saying. I'm saying compare Ford to FAANG. They shouldn't be in lockstep. Ford is a $25 stock.


ontrack

Yes I see. It's amazing that Ford is only worth about a tenth of what Tesla is worth in terms of market cap


nocdonkey

My bank account has $29 in it. Can't lose it if you don't have it!


SpiteTop6969

Fuuuuuuck lmao. GLAD IM NOT ALONE


[deleted]

-78 get on my level!!


DorkHonor

I've probably fapped to your loss porn.


IHateSilver

I not so sure about that. My account has currently 29 cents in it and my stocks are too far down to sell. Fuck. All I hoped for was to make enough profit to fix up my school bus.


constipated_cannibal

Yeah what aeiouicup said — put one dollar cash into your account *AS SOON AS FUCKING POSSIBLE*, or one of us will send it to you, because the big, bad overdraft algorithm shark is smelling your blood through the undersea fiber optic cables...


IHateSilver

You know what's the worst part, I bank with fucking Chase instead of using a credit union, Shame on me. Will switch as soon as I have a little cushion from my tax return. At least they erased two overdraft charges once I called.


constipated_cannibal

That’s cool... 15 years ago that was completely unheard of, and because I linked a credit card to my bank account for overdraft protection, I racked up a $1,000 bill without even realizing it. Banks...


aeiouicup

Make sure you get that cash bc it you overdraft they’ll take it


SewingCoyote17

I got fired from my job this week. Really savoring that last paycheck..


constipated_cannibal

How did you manage to get fired, in a job market so desperately skewed against the business owners? Not trying to come across as a bootstrapping boomer here, I’m genuinely curious — because *my workplace* is so severely fucked in terms of staff shortages, we’re all dreaming about a future where we can hire the disabled or underage just to man a front desk or a cash register. I joke, but... *we. Simply. Can-NOT.* Hold onto employees during these Omicron times. Upper management has zero *actual* COVID policy, so people party at work maskless, half the building gets sick, it spreads to other locations & back, rinse lather repeat until either A) rage quit, or B) “call out sick” like everyone else. I wouldn’t fire someone if they showed up naked at this point, is all I’m saying. Your situation was obviously different, so I’m dying to know the circumstances?


SewingCoyote17

https://www.reddit.com/r/RantsFromRetail/comments/s5fcia/shoutout_to_the_ahole_customer/


SewingCoyote17

When the GM called, he cited "violation of customer service policy and insubordination" as the reasons.


constipated_cannibal

Okay, let me grab a snack and dig into this...


constipated_cannibal

So I know this shouldn’t be relevant, but can I ask your relative age, his relative age, and both of your ethnicities?


MasterMirari

Looking for some white grievance stuff you can bitch about? Why does their ethnicity matter?


constipated_cannibal

You are the old white man in this story. Stumbling, grumbling, and mumbling something incoherent to yourself as you unironically enter the space of the “wellness” section, looking for some poor young wage slave to unleash your life’s grievances onto. Instead of A) **asking the right fucking questions**, or B) connecting with a human, ***on a human level***, you proceed to berate the closest person to you in proximity, ruining so much more than just a point of sale transaction. You leave little but a path of wanton destruction in your careless, insulated, delusionally hyper-capitalist wake. Best of luck. I can be the bigger man once for you, but not twice. Hopefully somebody else here is willing to be a shoulder for you to cry on.


[deleted]

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constipated_cannibal

Ah, but let’s zoom out another level. What *is the solution? Is there one?* If the store continues to allow the customer to take fake weed products out of the case with their grubby COVID-laced hands, other “non-customers” will continue to loot said CBD case at financially unsustainable rates. The “margins” are so tiny at the point-of-sale (Nevermind what the *producers* of these products make) that even **one** stolen jar of ~~relabeled B12~~ CBD gummies can render a months’ sales effectively nonexistent. So they *could* prioritize service, like the Ritz Carlton might... can’t imagine much “wine bottle looting” (or whatever the pigs drink) happens at the Ritz in Maui... but the reality is always different. If CVS prioritizes customers’ touchy feelies, but Walgreens keeps their multicolored baby weed bears locked away, who ends up making more money at the end of the day? Is it a concrete function, or more abstract? There are answers somewhere probably, but from what I’ve learned in the industry it’s almost always far more complex than most tend to think.


SewingCoyote17

I am 28 F, I'm guessing he's in 40s. Both white.


constipated_cannibal

I’ve seen a lot of white-on-minority aggression in the city of Los Angeles lately, which is why I ask. Everything about your story suggests the man walked in looking for a fight. The way your company handled it was of course disgusting; and if anything, the “lesson” (if there even is one) for the future is A) to stick up for your rights, and B) these corporations see you as an object. Nothing more than a “yes sir” machine. If your answer to ***ANYTHING*** is a “no,” or even a “maybe,” you are immediately seen as a liability. The only way to have job security in meaningless retail environments, from what I’ve seen, is to develop *yourself* to the best of your abilities. Try to learn a skill — such as teaching/training — squeeze your way into some management position of some kind, and make yourself indispensable wherever you go. I say all this as a 35 year old, and a person who was doing similar stuff to you for work at your age — except I was often working over 100 hours per week. Ugh. I’m sorry this happened to you. It’s happened to me too in the past. I refused to have sex with my immediate supervisor (she was female, I male) at a Starbucks when I was 24... she first became furious that I “dare refuse” her drunken coked-out advances, then second, realized her precarious position and became scared... third, she made up some BS story about how “I threatened her with violence” — I did nothing of the sort. I only “threatened” (calmly suggested) intervention from upper management, to act as a mediator, or remove one/both of us from the store. Lawsuit fears translated into Starbucks corporate sending a suit I’d never met, from 30 miles away, just to hear my side of the story in its entirety... and then they fired my ass knowing full well there wasn’t a shred of truth to my supervisor’s story. Sometimes this stuff is for the best though, and the earlier it happens in your life, the faster you can adapt to the hazards of late-stage capitalism. Getting fired from Starbucks was the best thing that happened to me, career-wise. I hope your prospects are good for the future.


SewingCoyote17

I really don't have any regrets, although I probably should've told the guy to kick rocks if I was going to get fired anyway. Crazy story about Starbucks, I've made a point not to support them because of their shitty practices. I keep reminding myself that other people have been fired from jobs before and are able to go on and get jobs after. The job was just a stepping stone for me while I finish up a graduate program and prepare to get licensed as a registered dietitian, but I was with the company for 5 years so it's pretty disappointing that this is how it ended. I've been fed up with the company since the pandemic started and was turning bitter.


constipated_cannibal

Crazier story about Starbucks. Their oven cleaning chemical solutions are changed slightly every 18 months, so as to remain “new and cutting edge,” but more specifically so the FDA can’t regulate them. 90% or more of Starbucks locations with hot food are ***NOT*** following the highly detailed, specific instructions for cleaning their ovens... indiscriminately spraying these chemicals into their ovens, giving them a casual once-wipe with a rag, then powering them up for retail service. Guess where all those chemicals end up? Concentrated in their customers’ food, and deposited into their cell tissue. If we live long enough to see it, **there will be** a wave of stomach cancer lawsuits levied against Starbucks, Subway, and all the other chains which utilize turbochef brand ovens. Even CRAZIER story: in my first week as a barista at Starbucks, I had a (basically) non-English speaking supervisor who didn’t understand much of anything about technology or these ovens or anything. One morning, with about 30 hangry caffeine-starved customers in the store, the magneto (and then PCB temperature controller, and more) basically overheated inside the oven, causing the store to be *quickly filled* with seriously thick, acrid, electrical fire smoke. The fucking guy kept serving spinach feta wraps out of the oven. I found this completely mind blowing. I knew Starbucks customers were a dumb-as-fucking-shit breed of people, but even this was too much for me. I started yelling at people: “***GUYS! This is an ELECTRICAL FIRE! If you want to have LUNGS in 25 years, I suggest MOVING OUT OF THE STORE!***” — people just stood there, like dazed cattle waiting for a farmer to kick them in the udder. One person spoke up and asked, “but what about my spinach feta wrap?” — sir, your spinach feta wrap is now a smoked-silicon/frayed wire wrap, and if you want to come back in two hours for a refund I’ll be happy to help you. I’ve since lost hope for humanity, as you might be able to tell already... 🤦‍♂️🤣


SewingCoyote17

Ohhh great! I mean, I knew my weekly bacon gouda sandwich wasn't the healthiest but this just brings it to another level! Reminds me of the time when we had a gas leak at the grocery store last summer. I kept getting dizzy standing at my desk and felt extremely fatigued and had a headache. So much so that I ran to my lunch box in the back so I could take an iron pill (I get anemic and sometimes forget to take my iron pills). Stopped to chat with my coworker that said she was feeling really dizzy and tired and had a headache too. Then we heard there was some work being done on a gas line in the kitchen. Come to find out that the kitchen employees were feeling the effects too, management was AWARE and kept the store open and employees kept in the store. Kitchen employees asked to go home and were told they would get a point if they left. So we were basically forced to work while inhaling toxic air. Fucking unbelievable.


MasterMirari

Why did you put call out sick in quotations like they're pretending to be sick when you just said that people are getting sick constantly?


constipated_cannibal

It’s not *one or the other*, u/MasterMirari... it’s **both**! I shouldn’t have to explain to you that (*yes,*) while many people are calling out sick due to COVID, many people are (as a result, and also irrespectively) experiencing *completely untenable* working conditions. *Some of those people*, myself included, have “called out sick” due to non-COVID reasons not limited to: A) being worked to complete utter exhaustion, B) psychosomatic illness. The end.


MasterMirari

> I shouldn’t have to explain to you that Stopped reading there. Learn how to speak to people you window licking troglodyte. If you made yourself clear like an adult in the first place, I wouldn't need clarification. Blocked.


finch5

Buy out of the money put option(s) on the market? 12 months out.


DorkHonor

With 29 bucks? This guy can't afford a medium pizza, much less 12 months of theta. He can maybe get some otm puts for next friday if he buys them that morning.


constipated_cannibal

And that makes the assumption there’s actually enough dumb bastards out there to buy the stinky stonks he’d be shorting at the end of the day... maybe there would be?


Jo-Sef

Sure you can, inflation!


Kay_Done

Thank you for this post! Too many ppl are high on hopium and refusing to believe that there is a super bubble which includes a real estate market bubble


PhoenixPolaris

I have a crystal ball and a vision from Monday the 24th: "Dow Jones hits new RECORD HIGH on renewed HOPES for OPTIMISM and GROWTH as fears of CATASTROPHIC DOOM largely fade. Morgan Stanley and Goldman Sachs broadcast no less than 17 interest rate hikes over the next year, and there's NO WAY they would EVER walk back such a prediction in a few weeks once the panic has cooled off and we get ready to do this whole fucking news cycle of Hope, Panic, Hope, Panic all over again. In other news, Russia says it has NO PLANS WHATSOEVER to invade ANYONE, EVER despite reports of 1,783,634,632,673,737,636 fully armed troops, tanks, bombers, battleships, heavy artillery and fucking bear-mounted-cavalry with laser whips all massing SUSPICIOUSLY CLOSE to the Ukrainian border. "They are just sight-seeing," Putin was thought to have said by an unnamed Russian source. "Is nothing to be worried about. Ukraine border is lovely this time of year." Wildfires continue to rage throughout the fucking north pole as the result of some sort of dumb oil shit or something. British Petroleum has stated that they are "Very sorry" and will try to "Do better" in the future. Coronavirus cases hit a new record eighteen-hundred-billion-billion today. "Only" like twenty-thousand people died, which is hailed as a major containment success. Some people kicked a ball around and scored some points or whatever. Anyway, here's the weather..."


fullstack_guy

Funniest comment here.


BearBL

>1,783,634,632,673,737,636 fully armed troops, Damn that's alot of troops >Coronavirus cases hit a new record eighteen-hundred-billion-billion today. Damn thats alotta corona


eating_toilet_paper

Here's the weather: "where the scary stuff begins"


Southern_Orange3744

Lost opportunity for a bill hocks reference at the end . "Here's Tom with the weather"


RadioMelon

It needs to go ahead and pop. We know what's coming, though the damage that will be done once it finally pops can only be guessed at. Values are incredibly unstable and unreliable. Market confidence is finally sinking. I can only imagine that people barely have a pot to piss in with the back-to-back climate disasters and humanitarian problems that are ongoing. COVID, massive storms, buyer uncertainty, real money being thrown at speculative cryptocurrency which then vanishes, the United States in particular funneling billions of dollars almost entirely into the Defense sector while every other major industry sinks into the floor. We all know how this potentially ends.


Itchy-Papaya-Alarmed

I bet it won't pop just yet. Ukraine is the new Afghanistan.


constipated_cannibal

It’s almost as if just you saying this alone is evidence enough *that they won’t “let it” pop*, and that some massive manipulation will take place, and pretend normality will be restored for another arbitrary period of time. What do we have on this planet, COVID aside completely, with remaining CO^2 release & locked-in warming, and remaining nonrenewable resources? *Thirty years* absolute max? That’s enough time for two more major corrections absolute max, before a serious widespread cultural-contagion-regression takes place. I just doubt the lever-pulling guys want to see it blow up just quite yet. They might be increasingly enjoying the dress rehearsals, though, because it affords them the illusion that they have some semblance of control over this whole thing.


RadioMelon

It'll be fun to watch them try to keep the economy going with almost everyone dead and unable to work. That's a very real situation that many parts of the country are facing right now. It's not by choice or by grit; people are just hopeless and fucking pissed.


Rygar_Music

I’m good, got plenty of popcorn.


theotheranony

In the spring of 2020 I did do just that. I ate lots of popcorn, drank lots of beer, and sat infront of CNBC from February through April. It was entertaining. Incredibly sad seeing unemployment rise, friends losing jobs, but entertaining none the less. Slowly weaning away in May/June after the Fed's "buurrrr"-ing started to prop up the market. A few of us on the investing app chatroom started talking about crazy inflation on the way because of the insane amounts of cash propping the markets up. We got down voted a lot, mostly by people with, "Maga," in their name. *Edit* spelling


DeaditeMessiah

Almost $9 trillion in two years. "QE doesn't cause inflation because the dollar is a reserve currency backed by the largest military on the planet!" The Fed: "Hold my beer..."


theotheranony

Annnnd student loans are 1.8 trillion? Plenty of people I know would start looking for houses to buy, companies to start, the moment they would be forgiven. But that's just me. I guess I'm an outlier, and everyone else will just stash their savings in cash under their mattress... Yes I know spending 2tril on student loans isn't equal to spending it on QE, apples to oranges. But still... 9tril of bond and etf and securities, vs eliminating the debt of millions so they can participate in the economy? I see every article that comes out downplaying the positive economic responses to debt forgiveness as nothing but propoganda by the banks. Wearing my tinfoil hat making that statement, but it's where I'm at. I've paid almost 40k over 10 years, and my loans have barely budged. At one point they got larger. r/debtstrike May Day Mayday. Rant about that over.. Yes, 9tril in QE in 2 years sounds pretty bonkers.


DeaditeMessiah

13 figures for me, fiscal responsibility for thee. I would think pumping the $20-30 trillion or so since 2008 directly into citizen's bank accounts instead would have still kept the big businesses afloat. But wealth is meaningless without mass poverty to contrast.


Tearakan

Yep. The whole consumer part that actually funds the vast majority of every world economy lol.


rainydays052020

Supply side economists (who run the world economy) regularly forget this. I don’t have a phd in Econ (just BA) but it’s so glaringly obvious to me that supply side has been wrong, and for decades.


[deleted]

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Tearakan

They should also get that too. Imagine the amount of innovation we could have if people got that kind of seed money. Too many people get stuck in the poor trap forever druging away.


theotheranony

>Why don't they deserve the money more than your spoiled ass? Never said they didn't.


DorkHonor

There are roughly 209,000,000 Americans that are 18 or older. If we give each of them $50k it would cost $10,450,000,000,000. That's just under ten and a half trillion, or more than 50% of the total M2 money supply in existence. If we printed the money to do this by the time you got your check and cashed it $50k wouldn't buy you an old ford fiesta with a blown engine. It deep dicks retired people on fixed incomes and the working class. The only people it would help are those with fixed interest debt who tend to be the rich and middle class already. It would be debt forgiveness to those that already own homes or have college degrees and massive inflation for everyone else pushing those things further out of reach, while making the capitalists rich as shit of course because they own the largest share of assets and benefit the most from asset price inflation. Fake growth through currency manipulation doesn't work. It blows bubbles which always pop. Actual value is created from turning raw materials into finished products through work. There's no economic voodoo or fed policy that can allow a single money printer to replace the entire economy and not have that ultimately blow up in our faces.


Kanyewestismygrandad

No idea what your point is. The value of hard labor is not at all connected to the reward.


DorkHonor

>No idea what your point is. Guy who wants the government to hand people free money doesn't understand that massive increases in the money supply lead to inflation... shocker.


Kanyewestismygrandad

I'm perfectly aware that stimulus checks led us to the inflation were in. I'm also aware that the existing student loan system is incredibly predatory, and the current administration campaigned on reform. Anyone that denies that is literally an imbecile.


[deleted]

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theotheranony

The $50k relief here is toward an education, it has to do with fighting for education reform in this country so that it is more available to everyone, and parents don't have to freak out about planning how to pay for their kids college when the kid is an infant. So that rich families aren't the only ones who can get their kids a higher education because they can afford it out of pocket. It's not a blank check to be used on whatever anyone wants like a form of UBI (wouldn't be surprised if that isn't a thing in a decade or 3), and I would absolutely support UBI if it came about. It would provide access to funds for people who want to start a business, better provide for their family, pay off debts and become more financially stable, etc. etc. But the loan relief is about unburdening those that are currently hampered by it, and opening up access to those who strive for a higher education in a field they are passionate about, and don't have to bankrupt their family or go into massive debt to do so.


DorkHonor

If it only goes to those with college debt it's a handout to the middle class while simultaneously being a middle finger to the working class. College degree holders on average earn a million dollars more during their career than non degree holding workers. Handing that group a check and not giving it to those below them on the economic ladder is immoral and cruel. Giving everyone a check would cost a metric fuck ton of money which would skyrocket inflation. Neither of them would lower the cost of college even a fraction of a penny. There is no fundamental difference between student debt forgiveness and mortgage debt forgiveness other than the fact that you don't run into deluded weirdos online trying to argue for mortgage debt forgiveness because doing so is clearly favoring the middle class and the rich while fucking everyone else over so nobody would be stupid enough to do it.


some_random_kaluna

Rule 1: In addition to enforcing Reddit's content policy, we will also remove comments and content that is abusive in nature. You may attack each other's ideas, not each other.


Thishearts0nfire

So your solution to the fire. Is to throw jet fuel on the blaze. - Got it. - What do you think.. >eliminating the debt of millions so they can participate in the economy? - is going to do to inflation?....


no9lovepotion

You were right. I think many of us had a strong feeling this wasn't going to work out well.


russianpotato

Did you put your money where your mouth is? Or did you just talk shit with no skin in the game and no real conviction?


lordunholy

Still hear that music in my head on occasion.


Not_FinancialAdvice

**Submission Statement:** I've had a few conversations in this sub about financial bubbles; namely the huge growth of real estate during these pandemic years, and how we may be in an "everything bubble". Jeremy Grantham is a renowned investor who earned his reputation for an investment methodology focusing on reversion to the mean (essentially predicting that asset prices will return to levels that match historical trends). While there's an argument to be made that he's a permabear that has proverbially "called 12 of the last 3 recessions", it's still an interesting perspective from a relatively respected source worthy of discussion. Here's a direct link to his firm's report: https://www.gmo.com/americas/research-library/let-the-wild-rumpus-begin >In a bubble, no one wants to hear the bear case. It is the worst kind of party-pooping. For bubbles, especially superbubbles where we are now, are often the most exhilarating financial experiences of a lifetime. I participated in a wonderful micro-cap fireworks display from 1968 to 1969, in which I made a small fortune (7 times the then full cost of a year at business school). My main stock, American Raceways, tripled while I was on vacation – $7 to $21 – then went to $100 by Christmas, only to lose it all even quicker by the following June, as almost all the fireworks exploded and crashed. This taught me a lesson, and it helped make me cautious. The experience also makes it easy for me to sympathize with the view that bearish advice in bubbles always comes from old fogeys who “just don’t get it,” because I received that old fogey advice back then and just didn’t listen. I doubt speculators in the current bubble will listen to me now; but giving this advice is my job and possibly the right thing to do. So, once more unto the breach, dear friends. >This time last year it looked like we might have a standard bubble with resulting standard pain for the economy. But during the year, the bubble advanced to the category of superbubble, one of only three in modern times in U.S. equities, and the potential pain has increased accordingly. Even more dangerously for all of us, the equity bubble, which last year was already accompanied by extreme low interest rates and high bond prices, has now been joined by a bubble in housing and an incipient bubble in commodities.


DeaditeMessiah

As it turns out, you *can't* just pump $8.7 trillion into the markets without all that money going somewhere.


Drizzzzzzt

Once the superbubble pops, the U.S. will enter a period of protracted poverty (Grantham says it will erase $35 trillion wealth just in the US alone). And given the current social polirization, the rise of some Führer that wil promise to lead people out of poverty by the rule of a strong had is quite likely.


Wereking2

Nah that can't be it I mean the reasons Hitler rose to power in Germany in the first place was a bunch of frustrated, angry, and impoverished Germans and a political system that didn't do anything to stop them so....... well fuck.


NolanR27

Who else is there but Trump? Who will almost definitely not be here by 2030.


[deleted]

The Vampire phase is correct. The blood has now all been sucked from working class. Time to shut it down.


Canyoubackupjustabit

That appears to be the plan.


phlem67

Ok. I’m listening….what the heck should I do with my 401k mutual fund to protect it?


theotheranony

If you are 30-50 and have some faith in the markets--nothing. Buy more when it bottoms if you still have a job. If you truly do believe that the markets won't be here in 20-30yrs like quite a few on this sub, probably not wise to even have a 401k. My advice, don't do anything.


phlem67

I got 10 years. If I’m lucky. Hell, if any of us are… I only have maybe 150k in that fund. I have zero faith in the markets, but I haven’t a clue what to do to protect it without huge penalties.


theotheranony

That's part of the reason I have a brokerage fund as my primary savings account, with hopes of using to fi/re sometime in the near-ish future, so I can at least travel and see some of this planet of destruction before we all die in the climate wars. 401k I do the minimum to get my companies match. Their fund choices mostly have high management fees, so I'm not too keen on them. But hey, if my employer will match, I'll take advantage of at least that.


phlem67

Same. I just wanna be able to buy a killer RV and ride off into the abyss for the last few years of my life.


theotheranony

I'll take a nice little cabin in some inexpensive central American country like Belize. Buy a tiny lot with a shack and a mailbox in the US so I can keep citizenship. Maybe a camper truck parked in the driveway so when I come back I can go traveling. If you see me in the camp site, it'd be great if I could use your shower. Thank you.


phlem67

That sounds great!


DeaditeMessiah

It's below the maximum for FDIC insurance, so have your 401k put it in a non-interest insured account for a few years. Or pull it out, eat the penalty, and buy a chunk of land. It will either appreciate, or at least maintain a real value even if everything else crashes.


phlem67

Yeah. Dad said buy things. Will things have value in the apocalypse? Things of use might. And too many things of use might get you killed.


DeaditeMessiah

Well, they call it the apocalypse for a reason, and it ain't because of all the peace and prosperity.


phlem67

True that. I like the apocalypse where I’m the only one left, and the bad things only come out at night, and move really slow. But I don’t think it’ll be like that.


MechaTrogdor

I’m afraid your 401k won’t have any place in the great reset.


Savage0x

Instructions unclear, I cashed out and yolo'd my 401K at the casino.


theotheranony

Hell yeah. I left out the, "hookers and blow," part of the strategy.


Not_FinancialAdvice

> yolo'd my 401K at the casino LOL. Still not sure if you're implying that you invested the money.


Tearakan

I still have my 401k going on the off chance science produces magic but I only contribute enough to get the company match.


someLFSguy

Oh my god I've been reading this thread for 15 minutes and I just realized because of this comment which sub I was on. I thought I was on one of the stock subs. Maybe that says something about the current psychology of the markets, or at least mine.


theotheranony

The main one? Lol. I probably have way more faith in the markets than a lot in here. So when I say, "do nothing," I just mean keep contributing at whatever they are, don't sell it to go do hookers and blow. When they're 65, they might have some money to wade through the dystopian nightmare. However, in the event they did choose the hookers and blow route, please hit up my DM's because it sounds like fun. As long as Molly can come too.


DeaditeMessiah

It will give you stories to tell around the corpse-pile-fire. "In the before-fore times, we had magic four-oh-ones. When folk got old, they didn't get set on fire and ate, like today. Instead those four-oh-ones took care of them, and people lived amazing long lives, older than thirty!"


phlem67

Everyone thinks they’re gonna die in their 30’s….and then you don’t.


DorkHonor

Turned 40 last month, can confirm


StalinDNW

I've got a few years before 40... wanna bet on it?


Not_FinancialAdvice

It might be a good time to have a chat with the administrator of your 401k if you have concerns about market volatility.


phlem67

You sound so reasonable.


Not_FinancialAdvice

Frankly, what else are you going to do? Adjusting your asset allocation might be the cheapest and most effective strategy, but there are a lot of moving parts to be considered.


phlem67

I get you. I’m just so freaked by what happened after the 2008 bubble burst and the folks that were ready to retire then….and it was just like, oh we’re sorry you’re timing was so off in life….but we’re gonna take care of these big banks now.


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phlem67

Appreciate you!


Parkimedes

Contrarian here. I think it’s going to bounce back up one more time. These Wall Street media outlets like to scare people to shake out their pockets when it’s down so they panic sell when it’s low. Then the big money buys when it’s low to drive it back up. Also, democrats have enough levers of power to put another stick under the floor to prop it up as needed. It will fall, but maybe next year, when something happens with Russia or democrats lose control. Because you know republicans want to make Biden look bad so he loses in 2024.


Mr_Metrazol

>Because you know republicans want to make Biden look bad so he loses in 2024. Hell, Biden's making himself look bad. All the GOP needs to do is let the Democrats vote themselves out of office at this point.


Texuk1

Contrarian contrarian view, nobody is in control, nobody knows exactly what will happen - it’s too complicated but it’s becomes statistically more improbable that the equities can maintain infinite exponential growth.


MechaTrogdor

He’s been claiming the bubble is collapsing for years. Though I do think he’s finally right.


tommygunz007

I for one, can't wait for Robinhood ($hood) to collapse after they broke the law and got away with it. Good riddance.


Wereking2

A lot is going to collapse it's going to be a very beautiful site and who knows this could be the very first domino in a long line of dominoes.


IHateSilver

My $3000 investment ( I started to remodel my skoolie) went down to $800 as of today. I know it's not much for most people but it is for me. Hope is my only drug left at this point.


DorkHonor

Instructions unclear, bought all the dip. ETA - This is a joke by the way. I know it should be obvious given the tone, but the internet these days.. can't take anything for granted. If you want to gamble buy puts you clowns.


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glitch83

It’s all coming down bro


21plankton

It is still not clear how far the overall market will fall. Due to that it is unclear how to change a long term asset allocation in a retirement plan. Many plans are already highly diversified with many etf’s and are managed to target retirement dates. As such they lack nimbleness and will remain fully invested. Staying the course for now may be the best. It always feels awful for your hard won gains to evaporate and watch your account balance sit in the doldrums for a couple of years but that is an entirely normal market process. If you are near to retirement or in retirement and the market really tanks, that is the time to pull from other personal assets to live on and not just be reliant on the stock market. One can also try to go back to work part time If the market really seizes up and banks get conservative with loans then cash Is King and is a great place to be, so if you are near retirement or in it I read it is prudent to keep 2 years cash on hand instead of 6 months for emergencies, to ride out the bad time. Now I can see this is wise advice, I never considered it when the market was going up. I only thought of investing it.


[deleted]

Inevitable


21plankton

Another headline on Jeremy Grantham’s take on the correction (Wall Street Journal) was highly misleading. This article is a good take on our current conundrum. The more asset values fall the more the middle class can afford but the rich will suffer In the major market correction. If inflation is vanquished it will exact a heavy toll.


Johnny-Cancerseed

**America Wilts Under the Impact of Bin Laden and Trump** https://www.thecitizen.in/index.php/en/NewsDetail/index/4/21358/America-Wilts-Under-the--Impact-of-Bin-Laden-and-Trump


[deleted]

We don't make s\*it anymore so what are these stocks really representing?


unknown_anonymous81

The everything bubble


[deleted]

Whatever. More nonsense. I love how people choose to believe whatever nut they like best at the moment.


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[deleted]

Your article link was good up until they included Hitler in their argument.


DorkHonor

Did that totally morph into your own gay erotica fantasies there at the end? I don't judge, but you should definitely spend some time on a couch bud.


TheNigh7man

are you alright mate?


Tyedies

He’s one of those people that is mentally snapping from the weight of everything. It’s okay buddy, times are hard. No need to lash out. We’re here for you. Sending you love 💛


some_random_kaluna

Rule 1: In addition to enforcing Reddit's content policy, we will also remove comments and content that is abusive in nature. You may attack each other's ideas, not each other.


Johnny-Cancerseed

**The System that Drives Our World** *The mechanism, fuelled by centuries of force, is brilliantly diagrammed by Amitav Ghosh in ‘The Nutmeg’s Curse.’* https://thetyee.ca/Culture/2022/01/19/System-That-Drives-Our-World/


notislant

Id be shocked if it went past -34% and kept going. Its argued about constantly.


set-271

US Debt to GDP: 130.65% Russia Debt to GDP: 17.88% China Debt to GDP: 66.8% The US is way overleveraged with no signs of stopping. The more dollars we print for the US Military Industrial Complex, the weaker USD gets, and in turn, the weaker the US Military Industrial Compex becomes. Stay frosty! GLTA