Business, Economics, and Taxes: Capitalism. Yay? >=(

[Kepler]

The racial sensitivity class I gave for my company last year is now illegal.

https://www.youtube.com/watch?v=dW37AGZ0Pj0&ab_channel=RishavBajracharya

 

[Slap Shot]

The house of cards are precariously close to collapse. Corporate America might be turning against Trump. CNBC Radio had breaking news on my drive home (can't find s link tho)... over 3,000 companies have joined together to file multiple lawsuits against the Trump Administration for a refund of the tarriffs against China that have impacted them.

The only thing recent I can find is a handful carmakers suing them.

 

[Handyman]

I wouldnt be surprised if the hotel industry sues him after they collapse this winter if things get as bad as the experts are saying.

The Fed is doing all they can to keep things alive until the next stimulus but since Mitch is gonna worry only about the SC we are likely screwed. Wall Street will get a fix at some point though so the Dow will make things seem ok...

 

[mookie1995]

If anyone has yet to park $$$ outside of their stock funds, they are getting different vibes than mookie.
no reason one can’t sell them now and keep cash for the next couple weeks

 

[aparch]

If anyone has yet to park $$$ outside of their stock funds, they are getting different vibes than mookie.
no reason one can’t sell them now and keep cash for the next couple weeks

I just hadn't pulled the trigger on my 401k stocks yet (moving the current allocation out to bonds), but thanks for the reminder.

 

[aparch]

The only thing recent I can find is a handful carmakers suing them.

Yeah, I just scoured Google and came up empty as well, all I saw were two non-mainstream websites that mentioned the CNBC story without any referemce.

¯\_(ツ)_/¯

 

[Handyman]

870k new jobless claims. Higher than expected and a rise from last week. Continuing claims dropped 167k from last week but is still over 12.5 million. (for the week ending September 12th)

https://www.cnbc.com/2020/09/24/weekly-jobless-claims.html

 

[FadeToBlack&Gold]

Yeah, the pre-election stock market profiteering started right around Labor Day if you look at the DJIA trend chart. Next slide will be when the PPP and extra UE benefits don't get extended in full by the Senate and the next round of airline/hotel/restaurant layoffs begin in earnest as the outdoor dining and tourist season draws to a close in the Frost/Snow Belt.

 

[Deutsche Gopher Fan]

I just hadn't pulled the trigger on my 401k stocks yet (moving the current allocation out to bonds), but thanks for the reminder.

I haven’t changed anything yet and I’m still scared of what to do. I think most of my 401k is stock as I have an aggressive portfolio

 

[Handyman]

Yeah, the pre-election stock market profiteering started right around Labor Day if you look at the DJIA trend chart. Next slide will be when the PPP and extra UE benefits don't get extended in full by the Senate and the next round of airline/hotel/restaurant layoffs begin in earnest as the outdoor dining and tourist season draws to a close in the Frost/Snow Belt.

It will be worse than layoffs...hotels are gonna flat out go under in a lot of places. Many of the small towns that love Trump are about to get it with out lube. Of course they will blame the Blue Cities and Governors.

Those jerkoffs cackling over whether Biden will get COVID will all be unemployed and broke by January.

 

[Handyman]

I haven’t changed anything yet and I’m still scared of what to do. I think most of my 401k is stock as I have an aggressive portfolio

Not much you really can do. You will take a hit but you are young enough that it will rebound. The market is going to have zero issue with the loss of Democracy so you will make out like a bandit in a few years.

 

[ScoobyDoo]

Everyone in the US that knows anything knows we need more stimulus pumped in. And the people who don't give a shit are in the US Senate and they're all Republicans. If Main Street goes down it will eventually take Wall Street down with it.

 

[Kepler]

If Main Street goes down it will eventually take Wall Street down with it.

I do not think there is any connection anymore. Wall Street is booming while the actual economy is so weak a slight breeze will knock it completely over.

I think the Plutes have completely disengaged their economy from ours. They are strictly parasitic now, like the bad guys in The Magnificent Seven. They ride into town (the US government), steal everything produced by us peasants (tax cuts, federal payouts), and then ride out again. The Democrats pick up the pieces and get things running again and then they reappear.

We are the farmers and they are the locusts.

 

[dxmnkd316]

I haven’t changed anything yet and I’m still scared of what to do. I think most of my 401k is stock as I have an aggressive portfolio

I don't think I'm touching anything. Too risky. You could reverse DCA out to a specific target to help mitigate risk in both directions. 401(k)s are just.... yeesh... I don't know. If you don't need it, don't touch it. Put it in the S&P500 index funds and let it ride. It's damn near impossible to beat it as a fund, especially if you're as you and I are. (Not that you need me telling you this.) And if trying to beat the market is nearly impossible, trying to time the market is just as hard. You're going to lose almost every time. The Big Short was luck and circumstance.

That said, a sound strategy is remaining in a market where the rich have all their money. They won't allow it to fail. And if it does, we're all fucked anyways. So my strategy is keep it in their honeyhole and ride the wake. Again, if the markets fail, we're all in trouble and 401(k)s are less important.

 

[Kepler]

If you guys are worried about what happens when there's massive civil disorder remember: bonds aren't a safe harbor either if there are tanks in the streets.

At that point I don't know what to do unless it's buy those tinfoil hat gold stocks.

Hoard the things that always hold their value: antibiotics, psychotropics, and debutantes.

 

[French Rage]

With interest rates so low and bond yields low as a result, there's really very little room for bond prices to go up. I'm not sure a move into bonds is the solution it once was.

 

[dxmnkd316]

I do not think there is any connection anymore. Wall Street is booming while the actual economy is so weak a slight breeze will knock it completely over.

I think the Plutes have completely disengaged their economy from ours. They are strictly parasitic now, like a protection racket or the bad guys in The Magnificent Seven. They ride into town (the US government), steal everything produced by us peasants (tax cuts, federal payouts), and then ride out again. The Democrats pick up the pieces and get things running again and then they reappear.

We are the farmers and they are the locusts.

This is absolutely true. While not entirely decoupled, it basically has been:

Now take a look at this. It's the mean divided by median of real family income indexed to 100 in 1953. Data only goes back to 1953, so that's why it starts there. In 1980, the slope quintupled.

Fuck these people so hard

 

[Kepler]

So much winning in the Republican Economy: gig evictions.

 

[aparch]

I don't think I'm touching anything. Too risky. You could reverse DCA out to a specific target to help mitigate risk in both directions. 401(k)s are just.... yeesh... I don't know. If you don't need it, don't touch it. Put it in the S&P500 index funds and let it ride. It's **** near impossible to beat it as a fund, especially if you're as you and I are. (Not that you need me telling you this.) And if trying to beat the market is nearly impossible, trying to time the market is just as hard. You're going to lose almost every time. The Big Short was luck and circumstance.

That said, a sound strategy is remaining in a market where the rich have all their money. They won't allow it to fail. And if it does, we're all ****ed anyways. So my strategy is keep it in their honeyhole and ride the wake. Again, if the markets fail, we're all in trouble and 401(k)s are less important.

I'm right there with you and DGF, (maybe a little older but I was late to the 401k game), and I appreciate this. I have moved my funds into more large cap / 500 markets because of some advice here and from CNBC.

I was wondering if it would be wise to tuck some into bonds/money markets, but maybe its best to just make sure i'm all invested in indexes and let it ride.

 

[aparch]

With interest rates so low and bond yields low as a result, there's really very little room for bond prices to go up. I'm not sure a move into bonds is the solution it once was.

Much appreciated for the insight.