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Stock Market Crash

I can appreciate the micro success, but I can't look past the inequality and hypocrisy of the macro

And its gotten a lot worse recently
 
BillBrasky said:
Yeah, its not great, but I do (did) see selflessness everyday. And it is the best part of my job.

However I know how stacked the world is against them, and makes me wonder, "what's the point?". The kids who aren't college ready will end up working some shitty jobs, maybe end up in jail, and have a 5-10% chance of being remotely successful. The kids who are college ready will do much better, sure, but there are not many of them. And those kids are still going to struggle as our general quality of life decreases due to our pyramid economic scheme.

IDK maybe I need to quit and open my own business or something. Do something honest, and if I lose, I lose. But now that I have a wife and a family that's not cool either. I just don't know if I keep blowing smoke up the asses of the children who have no chance to succeed in our system. I could switch to a less impoverished school but I'm don't think my message will resonate there either. Maybe I'll just drink more.
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Yeah, but you can directly impact the chances for success for a lot of those students, especially those that aren't college ready. And those that aren't college ready have significant chances for success in the trade fields. I have lots of students who graduated 2-3 years ago that already make more money than I do based off of mechanical or electrical skills. At the end of the day, you count your victories where you can and change what you can change without fixating on things that you can't. You're in a position where the change that you can create is tangible and measurable, and you should draw some comfort from that.
 
We need to get rid of program trading. It hyper inflates and deflates prices.

Short term trading needs to have much higher tax ramifications. They don't help anyone but the gamblers.
 
Covered my short in tesla yesterday to add to a short on something else that went up today. Then Elon musk tweets today that tesla's stock price is too high and it goes down 10% today. I'm literally the worst. You can't make this shit up

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I think he did, given the context of that post and the one after it.

There is more than just stocks in 401ks. Probably some fixed income and some sort of cash/stable value fund options in there. It’s not all coin flips and triple levered gambles.
 
Middle class people aren't investing directly in the stock market buys and selling. They're doing it through pensions and 401ks. Only a small percentage of people are day to day worried about the stock market for their own personal wealth.
 
I mean, yeah they are. For 401ks for sure. Maybe I’m not sure what you’re saying. A 401k is just an account. It’s part of an owner’s personal wealth. The investments options in it are stock/fixed income/etc mutual funds and every per-pay-period contribution is a buy. And every withdrawal is a sell. It’s directly related to the stock market.

Pension’s a bit more indirectly related as it pertains to a person’s personal wealth but a permanently nosedived stock market will screw over that pension plan’s investments, which means the company needs to contribute more to meet its obligations which means the company goes bankrupt and then the pension payouts get bigly curtailed.
 
People aren't sitting around buying and selling individual stocks for their 401k. Like you said, a 401k is an account. It's not regular transactions. You keep putting money into it and maybe take some out in an emergency. People with a 401k through their job probably wouldn't be investing in the stock market otherwise.
 
I think I get what you’re trying to get at. When you stated that “only a small percentage of people are day to day worried about the stock market for their own personal wealth” that’s just not stated well. I think what you’re trying to say is that movements of individual stocks on a day to day basis are probably only having the largest impacts on the far richer class?

For example, say the S&P 500 goes up 1% in a day. That’s essentially a stand in for “the stock market,” generally speaking. Everyone who is invested in an S&P 500 fund in their 401k (i.e. almost everyone) saw that component of their personal wealth go up 1%. It impacts all of them. But say one of the 500 stocks in that index went up 25% for some reason. Folks that hold share of just that stock instead of having it as a 1/500th of their S&P 500 fund (which are likely the richer folks who own stocks) get a proportionately higher return. Which is true. I think that’s what you’re saying.

Keep in mind the individual stocks also have higher risk of loss than the broader market so if there’s a stock in that 500 that lost 25% that day some rich schlub ate a proportionately bigger bite of shit sandwich too.
 
06deacon said:
I think I get what you’re trying to get at. When you stated that “only a small percentage of people are day to day worried about the stock market for their own personal wealth” that’s just not stated well. I think what you’re trying to say is that movements of individual stocks on a day to day basis are probably only having the largest impacts on the far richer class?

For example, say the S&P 500 goes up 1% in a day. That’s essentially a stand in for “the stock market,” generally speaking. Everyone who is invested in an S&P 500 fund in their 401k (i.e. almost everyone) saw that component of their personal wealth go up 1%. It impacts all of them. But say one of the 500 stocks in that index went up 25% for some reason. Folks that hold share of just that stock instead of having it as a 1/500th of their S&P 500 fund (which are likely the richer folks who own stocks) get a proportionately higher return. Which is true. I think that’s what you’re saying.

Keep in mind the individual stocks also have higher risk of loss than the broader market so if there’s a stock in that 500 that lost 25% that day some rich schlub ate a proportionately bigger bite of shit sandwich too.
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I see what you're saying, but do you think someone who isn't retirement age who only has money in the stock market through their 401k is checking the S&P everyday?

If it wasn't for 401k, pensions, and other employment based devices, very few regular folks would have skin in the game.
 
First paragraph, yes I do. It’s hard to miss in the news but also see trump voters. Not the trailer folk who crow about it for no reason but the folks like my moron coworker who is (maybe was by now) a trump supporter because “look at my 401k”. They need an excuse to vote for that. Also for middle class folks without much else assets wise other than their bank account or their house (which they can’t sell because they live there), it can be one of the few small measures of wealth they have and with which they take disproportionate pride. by now we should not be surprised the ignorance and vanity of the avg suburban voter.

Second paragraph, you betcha. 65% per that chart it looks like.
 
“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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