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Business, Economics, and Taxes: Eat Cereal for Dinner

RaceBoarder said:
I think that most of America doesn't think this can happen to them (Red OR Blue). 2008 is a distant memory for many (and not even a blip on the road for most).
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Yep...especially for the idiot Gen Zers who think what's coming is a good thing.
 
The only thing I can do...pour a drink and pop some popcorn!

Look let's be frank if we are even half right the market will tank, unemployment will skyrocket and the dollar will be worthless. They are stealing everything and in an effort to mitigate the damage hundreds of thousands of people are walking into a casino and betting everything they have on one hand of poker against the greatest cheat of a time who has stacked the deck.

Very very few will escape unscathed.
 
I'm not sure we can run to bonds either.

I don't know what to do short of stocking up on weapons, painkillers, and hooch.
 
Kepler said:
I'm not sure we can run to bonds either.

I don't know what to do short of stocking up on weapons, painkillers, and hooch.
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Right now, I'm trans and working poor. Doing this while sober.

Looking at GR, there's going to be riots. Stuff that makes 2020 look like a campfire.
 
A surprisingly well thought out assessment on the state of the economy from r/Wallstreetbets.

The US economy is already dead, it just doesn't know it yet. I believe it's going into acute stagflation inside of 4 months, which is more than likely to transition to a depression more severe than the 2008 crisis.

We are seeing the building blocks of a disaster the likes of which we haven't seen in generations, and it's a question of when, not if it goes off the rails. This presents a fabulous oportunity for generational wealth.
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r/Wallstreetbets is actually quite anti-Dump BTW.
 
Kepler said:
What are you doing to prepare for a crash?
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I'm retiring this summer. A couple of years ago, I realized I had a lot of money saved up which I hadn't yet invested (I have plenty in my 401K, IRAs, Roth IRAs, so I wasn't too worried about a chunk not in a decent investment). Since CD rates were very high at the time, I put it in two CDs, with the idea that I can live on that money for about three years before I have to even think about pulling out of my retirement accounts (I'm not planning on touching social security till the max hits).

So, my plan is to have one of those CDs with the lesser amount come due around next winter (I'll have enough to live on with whatever I'm not spending from my paycheck these days till that date). Then have the larger one expire a year from next winter, which should carry me for another two years. (Quite frankly, I hardly spend any money, so this plan could last four years, unless I need a new car before then).

Therefore, now looking at the scene, this may have been the smartest thing I've done. Because if the stock market crashes, whatever accounts I have in the market will have ~three years to recover, which is semi-reasonable. And I can always pull out the money from the safe retirement investments first, allowing my market investments more time to recover.

(Interestingly, my wife doesn't want to retire. Assuming she doesn't lose her job, I joke to her, I'm just going to live off of her money...)
 
Kepler said:
I'm not sure we can run to bonds either.

I don't know what to do short of stocking up on weapons, painkillers, and hooch.
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In theory long term you can...but honestly I don't know what happens when the economy craters and the government is going to destroy the country.
 
I wonder how the markets go tomorrow. They had a terrible day today and I gotta think the tariffs will freak investors out.
 
RaceBoarder said:
I think that most of America doesn't think this can happen to them (Red OR Blue). 2008 is a distant memory for many (and not even a blip on the road for most).
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As an Elder Millenial who somehow survived a layoff in each of the 2008 AND 2011 recessions, I've been hearing "Fortunate Son" as a background soundtrack every time Trump and his financial advisors discuss the markets and tariffs.
 
Jimjamesak said:
If you think the begging to Dump on social media is creepy now, wait until they start losing their houses.

(And then they'll be in the streets trying to reach out to him, labeled as "protesters" and then shot by the military)
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don’t think the wish to withdraw from nato and bring those soldiers back to the us is for shits and giggles, do ya?? 🤔🫣
 
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