Economy Stock Market Has Worst Week Since 2008

[KILL KILL]

I tried not to look but got my statement in. I have a while to retirement but it's still fucking depressing

Tell me about it. My 401k allocation is super aggressive. It's been 100% S&P 500 for the last 2 years. Tons of gain, but now taking a hit.

 

[Bunk Moreland]

With internet rate above two percent there is something to cut if shit hits the fan. Europe not so much. For the next few weeks Wall Street might bitch about this as will the president, but when times get tough they will be looking to the Fed to cut rates and save their asses.

 

[PolishHeadlock]

@Fawlty

 

[DEN]

@Madmick

It's smoke and mirrors. Healthcare premiums are up over 100% in 10 years:

Tuition costs:

Student debt trend:

Btw this graph above is nothing. It's at 1,5 trillion dollars now!

Student Loan Debt Statistics In 2018: A $1.5 Trillion Crisis
https://www.forbes.com/sites/zackfriedman/2018/06/13/student-loan-debt-statistics-2018/#370a95e57310

A measly few 1 or 2% raise in the median means absolutely nothing when the the prices of houses, healthcare and tuition is skyrocketing. This has been the greatest economic upswing in decades and that's what the middle class has gotten out of it? Also:

Median U.S. household income rises 1.8 percent to record $61,400 in 2017
"Although median income reached $61,000 for the first time, census officials noted the agency changed the way it collects data in 2013 and the figure is not statistically different from median income in 1999 or 2007 on an inflation-adjusted basis."
https://eu.usatoday.com/story/money...hold-income-rises-1-8-61-400-2017/1272004002/

Equally important, income inequality has been on a very sharp incline. It's at the highest now it's been since just before the great depression, and it's on track to surpass it!

Looking further than wages and towards all forms of household income, inequality is seriously alarming:

https://www.businessinsider.com/rec...-hiding-a-chilling-fact-2017-9?r=US&IR=T&IR=T

Well that's depressing

 

[DEN]

@Fawlty

There really is a tweet for everything.

 

[JonesBones]

Good time to buy. Which I am doing. Bought me some Nike, Apple, etc Good merchandise on sale.

 

[JonesBones]

With internet rate above two percent there is something to cut if shit hits the fan. Europe not so much. For the next few weeks Wall Street might bitch about this as will the president, but when times get tough they will be looking to the Fed to cut rates and save their asses.

The interest rates are fine. We have had free money forever. It has to be raised. The problem is the 2 and 10 year yield spread. The yield curve itself is useless because interest rates have to go up, They can't go down any further.

 

[Bunk Moreland]

Nextthing trump will say is that he’s getting rid of Powell because he unfit to be chair. For the sole reason of not being an economist. TTTTB

 

[Bunk Moreland]

The interest rates are fine. We have had free money forever. It has to be raised. The problem is the 2 and 10 year yield spread.

Never said the rates weren’t fine.

 

[brackis1]

Good time to buy. Which I am doing. Bought me some Nike, Apple, etc Good merchandise on sale.

When exactly did you buy Nike? it just took a shit and much of the market is being propped up by sneakerheads ala the crypto scam. ("oh sneakers can go up in value!" idiots)

 

[SaiWa]

I tried not to look but got my statement in. I have a while to retirement but it's still fucking depressing

If you got a while till you retire then you want the market to tank and tank for a long while. The longer the better. Your 401k buys you more during this depression so once it recovers it’ll be worth even more. The only people who do not want this are old farts who are about to retire but they should be losing only a small portion of their 401k as they should have converted most of it to safer bonds already. If they were greedy and didn’t convert then they better delay their retirement till the market rebounds..

 

[JonesBones]

When exactly did you buy Nike? it just took a shit and much of the market is being propped up by sneakerheads ala the crypto scam. ("oh sneakers can go up in value!" idiots)

I bought it like a week before earnings. Hoping to ride it into earnings and then jump out because earnings are a crap shoot. I sold most and kept a small position. Good earnings. Like the only thing green that day. I sold the rest. I bought more today because it was 4% down.

It is an industry leader and way off its highs due to a garden variety selloff. Same reason I own Lululemon. Nike is actually starting its own men's yoga line to challenge Lulu. I like retail stocks in general. Probably too concentrated in them. I got TJ Maxx, Target. Hanes Brands. Michael Kors.

 

[brackis1]

I bought if like a week before earnings. Hoping to ride it into earnings and then jump out because earnings are a crap shoot. I sold most and kept a small position. Good earnings. Like the only thing green that day. I sold the rest. I bought more today because it was 4% down.

It is an industry leader and way off its highs due to a garden variety selloff. Same reason I own Lululemon. Nike is actually starting its own men's yoga line to challenge Lulu. I like retail stocks in general. Probably too concentrated in them. I got TJ Maxx, Target. Hanes Brands. Michael Kors.

I'm short Lulu based on their desperate membership offering thing and the impending rush of competitors to take their male market (they're so weak here based off name alone; dudes hate the 'basic' association)
I think retail is gonna get wrecked outside of consolidations among a few online and mixed channel sellers once the average American (who has no idea what's happening right now) starts to stop spending so wildly based on full employment. Particularly folks like Goose and Yeti who have hype products with nearly identical knockoffs available for cheap and won't have as many idiots overspending to look cool.

 

[Ophydian]

Good time to buy. Which I am doing. Bought me some Nike, Apple, etc Good merchandise on sale.

I think you might had bought in a little too early. January is going to be bloody.

 

[Ophydian]

If you got a while till you retire then you want the market to tank and tank for a long while. The longer the better. Your 401k buys you more during this depression so once it recovers it’ll be worth even more. The only people who do not want this are old farts who are about to retire but they should be losing only a small portion of their 401k as they should have converted most of it to safer bonds already. If they were greedy and didn’t convert then they better delay their retirement till the market rebounds..

I like to shift my 401K into principle during times like this. Why lose money? Most people just forget about their 401K until they see a statement showing -X%.

 

[JonesBones]

I'm short Lulu based on their desperate membership offering thing and the impending rush of competitors to take their male market (they're so weak here based off name alone; dudes hate the 'basic' association)
I think retail is gonna get wrecked outside of consolidations among a few online and mixed channel sellers once the average American (who has no idea what's happening right now) starts to stop spending so wildly based on full employment. Particularly folks like Goose and Yeti who have hype products with nearly identical knockoffs available for cheap and won't have as many idiots overspending to look cool.

lol. I know somebody who is short Lulu too. Lulu still has a lot of expanding to do. I think there is growth there. Even if it is just women.

Retail has been getting wrecked and so have I. Discount stores like TJ Maxx and Ollies have been getting blasted. I like their chances better than the high end retail you mentioned.

 

[Diamond Jim]

 

[SaiWa]

I like to shift my 401K into principle during times like this. Why lose money? Most people just forget about their 401K until they see a statement showing -X%.

Yeah If you catch it it’s great..

 

[ScottE]

I think you might had bought in a little too early. January is going to be bloody.

It's extremely difficult to time the floor. Best bet is to just ramp up buying all the way down. But I would expect further erratic behavior from the WH which has had substantial downward pressure on the market.

 

[JonesBones]

I think you might had bought in a little too early. January is going to be bloody.

Man, there are a lot of pessimists out there. We've had the worst week in a decade and a terrible month in general you and think it will get even worse? You may be right but I am more optimistic.