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Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

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Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">If this is the case, this could lead to a cataclysmic level recession. <a href="https://t.co/Aq8bw4lKet">https://t.co/Aq8bw4lKet</a></p>— Eric Michael Garcia (@EricMGarcia) <a href="https://twitter.com/EricMGarcia/status/1240047399097102337?ref_src=twsrc%5Etfw">March 17, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">If this is the case, this could lead to a cataclysmic level recession. <a href="https://t.co/Aq8bw4lKet">https://t.co/Aq8bw4lKet</a></p>— Eric Michael Garcia (@EricMGarcia) <a href="https://twitter.com/EricMGarcia/status/1240047399097102337?ref_src=twsrc%5Etfw">March 17, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Dow 1000!
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">If this is the case, this could lead to a cataclysmic level recession. <a href="https://t.co/Aq8bw4lKet">https://t.co/Aq8bw4lKet</a></p>— Eric Michael Garcia (@EricMGarcia) <a href="https://twitter.com/EricMGarcia/status/1240047399097102337?ref_src=twsrc%5Etfw">March 17, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

I think he is underselling it...but yeah the number is going to be HUGE. That is why some GOPers are calling for payments or benefits this could be a MAJOR problem for a while.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

I guess at this point pulling my money out of my IRA is pointless. May as well hope it bounces back.
 
I guess at this point pulling my money out of my IRA is pointless. May as well hope it bounces back.

It will as long as you don't need it in the next 5 years. If you're under the age of 55, for God's sake don't touch it and keep putting money into it.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">If this is the case, this could lead to a cataclysmic level recession. <a href="https://t.co/Aq8bw4lKet">https://t.co/Aq8bw4lKet</a></p>— Eric Michael Garcia (@EricMGarcia) <a href="https://twitter.com/EricMGarcia/status/1240047399097102337?ref_src=twsrc%5Etfw">March 17, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

20%? He must have spelled depression wrong. Not sure how because the "depr" key isn't even close to the "rec" key on the keyboard.
 
20%? He must have spelled depression wrong. Not sure how because the "depr" key isn't even close to the "rec" key on the keyboard.

Timing of this is still up in the air. If the spread can be controlled better than currently projected the quarters of negative growth may be able to be limited.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Good God. 31,000 people laid off and filing for unemployment in the 48 hours surrounding Minnesota's closing of restaurants, bars, and other face-to-face places. <a href="https://t.co/qEDbXCL40e">https://t.co/qEDbXCL40e</a></p>— Dara Grumdahl (@DearDara) <a href="https://twitter.com/DearDara/status/1240107017336811520?ref_src=twsrc%5Etfw">March 18, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Holy hell
 
It will as long as you don't need it in the next 5 years. If you're under the age of 55, for God's sake don't touch it and keep putting money into it.

Yeah. If I dont need it. Who knows if I'm going to need it in the next few years. Hell, the next few months. I'll leave it alone and hope but I'm expecting there to be nothing left. I went through this when the dotcom bubble burst and swore I'd never gamble my money in a retirement account again, but here we are...
 
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Good God. 31,000 people laid off and filing for unemployment in the 48 hours surrounding Minnesota's closing of restaurants, bars, and other face-to-face places. <a href="https://t.co/qEDbXCL40e">https://t.co/qEDbXCL40e</a></p>— Dara Grumdahl (@DearDara) <a href="https://twitter.com/DearDara/status/1240107017336811520?ref_src=twsrc%5Etfw">March 18, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Holy hell

We're going to wish it was only 20%
 
Yeah. If I dont need it. Who knows if I'm going to need it in the next few years. Hell, the next few months. I'll leave it alone and hope but I'm expecting there to be nothing left. I went through this when the dotcom bubble burst and swore I'd never gamble my money in a retirement account again, but here we are...

As long as you had even a moderately diversified portfolio during the dot com burst in the early 2000s, even with the great recession in 2008, if you left it alone for the last 20 years you'd be way, way ahead.

For all the carnage this last month, all that's happened is it's basically taken us back to pre-Trump levels in 2016. You've still got the 8 years of gains under Obama.
 
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Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

The way it was explained to me was that funds like my 401k will continue to buy as the price tanks so that when it starts to rise you get your value back plus the gains on the new lower priced buys.
 
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