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My 401k lost value significantly the week before the election, but has rebounded now. The slime balls who dominate the stock market must have been afraid that Harris would win. This country is disgusting.
It's impressive we give so much control of our financial instruments to idiots who obviously don't fully grasp how tariffs and protectionism work.
Yeah. I wish I had a choice. I always thought the stock market was a fucked up idea. Rich people gambling with other people's money. Like you said, awesome we structured our whole system around the idea.
Makes me wonder what would happen if a government funded and operated pension fund were setup. Basically like social security but ramped up to fully cover the cost of retirement for all Americans.
I also wonder how that would realistically impact macroeconomics if the money were simply printed instead of budgeted to avoid the problems of expecting infinite growth and a growing retirement population as people live longer and populations shrink. There seems to be some growing economic questions as to if measured money printing can be beneficial to an economy, and doing so for social good, even social security if you will, might theoretically stave off deflation. It would probably become a useful dial for the Federal Reserve to adjust in persuit of its dual mandate as well, increasing or decreasing how much of the fund is printed vs budgeted as needed. Maybe that could even become a third mandate of managing the social pension fund to ensure comfortable retirements
I don't disagree, but a lot of that is uncertainty being resolved (for now). Most economists liked Harris.
Oh, I know. But flighty rich conservative assholes give no shits about economists
They know they'll win anyway. What's going to be interesting is when they realize being a multi millionare doesn't qualify them as rich enough for that to be true for the level of shit hitting the fan that's coming up.
No, they threw in more money on the bet that everyone else would do the same. Nothing to do with liking either candidate.
I don't understand. How would people investing more cause my value to drop? I'm admittedly very ignorant on the topic, so don't take this question the wrong way.
My guess: The pre-election drop was probably the usual investor jitters before a major event. The rebound was from people betting that other people would throw in money after a Trump win. Does that make sense?
Oh yep I gotcha, that does make sense
Yeah, I laughed at the "market fundamentals" when I saw that. Same for seeing how crypto reacted. JFC.
The market is based upon vibes and has been for a while now.