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Stock Market Crash

DistrictDeacon said:
Ok professor. Pensions don’t exist without the stock market.
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You missed it again. Pensions are a vehicle that puts the working class in the stock market. Talking about working class participation in the stock market without talking about pensions misses half the story.
 
06deacon said:
Govt debt
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exactly

I'm pretty ignorant about retirement income options across the globe, but my gut says the average government payout in other developed countries is a much higher percentage of retirement income than the US


one issue with the stock market as the primary retirement savings vehicle -- in addition to its volatility -- is that it is predicated on consistent growth of the economy, which requires evermore resources, even as we shift to a service-based economy

this runs directly against a lot of the drastic measures needed to fight climate change which puts us in a tough spot: the planet or our financial security
 
JuiceCrewAllStar said:
exactly

I'm pretty ignorant about retirement income options across the globe, but my gut says the average government payout in other developed countries is a much higher percentage of retirement income than the US


one issue with the stock market as the primary retirement savings vehicle -- in addition to its volatility -- is that it is predicated on consistent growth of the economy, which requires evermore resources, even as we shift to a service-based economy

this runs directly against a lot of the drastic measures needed to fight climate change which puts us in a tough spot: the planet or our financial security
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Seems like government payouts in other countries would also rely on consistent growth of their economies.
 
PhDeac said:
“Look at my 401k” from Trump supporters is like Walmart fans bragging about how UNC and Duke did last night. I don’t think they actually look at their 401k. They are rooting for Trump and the stock market is one way to keep score.

I’m not sure what you mean by 65%. That chart shows that if you take everyone who has any skin in the game including their pension, 401k, etc AND their spouse’s investments, only 55% are invested.
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Did I say 65? Dumbass. Bad Friday math. I meant 45% as in 45% have no stock market involvement.

No it’s really easy to see stock market performance. And 401k. They know and check. Well not the Walmart trump fans. They are in the 45%. But my coworker knows. He’s just dumb and attributes it solely to trump.
 
PhDeac said:
You missed it again. Pensions are a vehicle that puts the working class in the stock market. Talking about working class participation in the stock market without talking about pensions misses half the story.
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Yeah no shit. That’s literally what my post said. Pensions rely on the stock market.
 
JuiceCrewAllStar said:
exactly

I'm pretty ignorant about retirement income options across the globe, but my gut says the average government payout in other developed countries is a much higher percentage of retirement income than the US


one issue with the stock market as the primary retirement savings vehicle -- in addition to its volatility -- is that it is predicated on consistent growth of the economy, which requires evermore resources, even as we shift to a service-based economy

this runs directly against a lot of the drastic measures needed to fight climate change which puts us in a tough spot: the planet or our financial security
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Yeah I mean it’s gotta come from somewhere. If not stock market growth, then govt payouts. Which means increased taxes which relies on income which relies on economic growth. It’s a tough spot.
 
The CEO of a publicly traded company worth $150 billion just tweeted that his stock was overvalued and cost the people who own his stock lost $15 billion dollars in one day because he seemed to be either inebriated and/or depressed because his girlfriend named Grimes was mad at him.

Not sure how he doesn't get thrown out of his company by the SEC
 
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Well the stock market is also valued in dollars. You're investing $100 dollars in a stock based on the amount of dollars the stock earns in profit. When the government is just printing money because the world is ending, the stock market is also a hedge against inflation. So that may well be why the stock market is going "up"

A Share in XYZ company I bought at $10 will be worth $100 in 10 years because we just keep printing money and all of us will be making $500,000 a year in a few years. It's just that a Ribeye at TGI Fridays would also set you back $1,500.
 
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Most people “proud” of their 401k are likely overestimating it’s real value in terms of retirement income.
 
palmab03 said:
The CEO of a publicly traded company worth $150 billion just tweeted that his stock was overvalued and cost the people who own his stock lost $15 billion dollars in one day.

Not sure how he doesn't get thrown out of his company by the SEC
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Seems a little more unhinged lately, that guy.
 
ConnorEl said:
Seems a little more unhinged lately, that guy.
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That was the general thought behind my short, until I closed out and looked elsewhere a day before his tweetstream

Literally everything I've bet on has been wrong. I need to Costanza it. I got one option put play based on the world ending I'm counting on at this point.
 
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Sorry to hear.


I’ve got money in several (4) retirement vehicles and an after tax brokerage account that includes a number of individual stocks and etfs.

But I’m not an active trader, just generally buy and hold, try to maintain reasonable diversification and asset allocation, etc.
 
...and when the market is really down, I try to put more in if able. That’s about all the timing I do.
 
palmab03 said:
The CEO of a publicly traded company worth $150 billion just tweeted that his stock was overvalued and cost the people who own his stock lost $15 billion dollars in one day because he seemed to be either inebriated and/or depressed because his girlfriend named Grimes was mad at him.

Not sure how he doesn't get thrown out of his company by the SEC
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Agree completely. He should be fined and removed from the company.

As far as Tesla goes, he has to see the writing on the wall that EV tech, while great, is going to be a loser as long as we are looking at crazy cheap gas. The reality is his company sells luxury items and will be squeezed hard by a global recession. Pretty obvious short play IMO, but not going anywhere near it as long as that lunatic is at the helm.
 
I get the point of the article but as it points out, elderly parents moving in with their children is nothing new. Multi generational families have been normative particularly in Latino cultures and among immigrants.

What is new is that those children are less likely to be established in their careers with their own families than previous generations.
 
PhDeac said:
I get the point of the article but as it points out, elderly parents moving in with their children is nothing new. Multi generational families have been normative particularly in Latino cultures and among immigrants.

What is new is that those children are less likely to be established in their careers with their own families than previous generations.
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Not to mention that this is not a realistic plan for some seniors - as more and more people don't have kids this retirement "plan" won't work, as they will have no children to move in with (or mooch from) when they get older. The number of adults without children has been steadily increasing with each generation. And contrary to the common belief, not all of these people are doing well financially just because they don't have kids, or necessarily have more saved for retirement. I know a number of middle-aged couples and individuals with no children, and I've often wondered what's going to happen to people like this if they reach old age and don't have a lot set aside to retire on. Having your kids take care of you has been the retirement plan for a lot more people than many realize, imo.
 
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Yeah. It's not new. And even if it wasn't the "retirement plan" it was the reality because older parents didn't plan well. We're sending money to my in-laws for an in-home helper because they only planned to stay perfectly healthy then die.
 
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