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Anyone who banks at Wells Fargo should be accustomed to getting screwed.
Stock market is freaking out - something is going on
- Thread starter dragonsfly
- Start date
Anyone who banks at Wells Fargo should be accustomed to getting screwed.
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- Feb 13, 2012
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I've got a condo I will probably sell soon to put towards another place and I need all the equity I can get. A slowing economy and higher interest rates won't help that. Plus my wife is looking for a new job so we need as many options as possible. Once we square away a few things the state of the economy will be a lot less of a concern to me personally. Not to say I don't care or wish it tanks, but a lot of my anxiety will be relieved. Granted I don't think any downturn will be catastrophic like 2008. More like early 90's or early 2000's.
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Yup.
If he was all "The stock market is going through the roof because of ME!", then he has to ride the mule when it's going down.
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His sycophants will disagree , they are that fecking stupid/dishonest/ delusional
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If the DOW shrinks by 4% in each of the next 3 weeks, you should freak out. Honestly, don't just blindly stare at the numbers. Has anything really changed in the global economy since Jan 28th, when the DOW records was posted? This is just a normal, healthy correction.
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Damn, that Wells Fargo news is huge. Removed 3 board members, and capped the banks assets at 2 trillion dollars.
I guarantee that this punishment rings throughout the halls of the big banks.
I don't know who gets credit for that, the Atlanta FED, or if it is political, or what, but whoever did that deserves a fucking medal.
I guarantee that this punishment rings throughout the halls of the big banks.
I don't know who gets credit for that, the Atlanta FED, or if it is political, or what, but whoever did that deserves a fucking medal.
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If you have a financial advisor, you'd be an idiot to give more credence to some rando on Sherdog than the person you're (perhaps indirectly) paying to take care of you. You have a right to check in at least every now and then to make sure your account is not being overlooked.
You have a laughably low bar for describing a comment as outrage. If you dialed it back a bit you might get from snide and boring to entertaining.
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Face palm at wells Fargo financial advisor. Box bank financial advisors are clowns.
The only financial advisors that are worth a shit, have to be heavily vetted, and take some finding.
You have to tell this idiot empty suit what you want. You want a diversified portfolio. Bonds, annuities, mutual funds, commodities.
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If it was steady it wouldn't worry me, it is the big swings, that are showing volatility.
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Great if it's just a correction.
Here's what concerns me. Let's say people have read the tea leaves and seen that the economy is going to tank because every economic indicator argued against tax cuts, so there's a run on the market as people move assets out before everything goes tits up.
Kind of how a crash happens innit?
Here's what concerns me. Let's say people have read the tea leaves and seen that the economy is going to tank because every economic indicator argued against tax cuts, so there's a run on the market as people move assets out before everything goes tits up.
Kind of how a crash happens innit?
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Idk man. He's already made me more money than I ever expected.
I don't know shit so I let him run with it. Extremely happy so far.
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And he will lose you your ass come the next crash.
Do yourself a favor, and ask him how his accounts performed 08. Did they perform better or worse then his counterparts?
Making money since the 08 crash, literally has involved nothing but putting money into the markets. For almost 10 years now, a blind monkey could be a successful financial planner.
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If the GDP shrank by 4% week over week for the next two months, you wouldn't be worried? Okay....
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You said Dow, not GDP.
If the Dow lost 4% at a steady rate for 3 weeks straight, I would be relieved. That would be a correction, as opposed to a crash, which is what I think is coming.
To put that in perspective, if the Dow lost 2% for 3 weeks straight, but was making 1,000 point swings daily, I would be far more worried about that.
FYI, in 08, we had 12% swings in a week, 4% swings in a day. The whole thing really did almost collapse.
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Interest rate hikes are driving this all. The dirty little secret is that we don't have the consumption to drive 3% GDP growth without credit. Which is why we will see bubble after bubble, until recessions are the norm. The labor revolution, that created huge leaps and bounds in the average Americans ability to consume has been destroyed, and replaced With a bubble machine.
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On the bright side, if you lost $7k today that means you've still got a nice chunk out there. I'm waiting for the guy who says he just lost his bread-loaf money.
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Base your market on faith
See it's results
See it's results
