2016 Postmortem
Related: About this forumAt the end of trading today
15 votes, 0 passes | Time left: Unlimited | |
The Dow will be flat | |
1 (7%) |
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The Dow will be up, a lot | |
0 (0%) |
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The Dow will be down, a lot | |
12 (80%) |
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Other | |
2 (13%) |
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0 DU members did not wish to select any of the options provided. | |
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Disclaimer: This is an Internet poll |
swhisper1
(851 posts)Last edited Fri Jun 24, 2016, 05:34 PM - Edit history (1)
DemocratSinceBirth
(99,710 posts)You could have voted other.
leftofcool
(19,460 posts)Those of us with Teachers' Retirement care. Union pensioners care. All State retirees care. Maybe you didn't know that most retirement is tied up in Wall Street?
Sheepshank
(12,504 posts)yup...looks like my retirement is put off at least another 9 years. That's a total of 18 extra years I had to work, through no fault of my own, where my 401K was touted to cover my basic needs for the rest of my life.
JRLeft
(7,010 posts)cherokeeprogressive
(24,853 posts)Nothing but the vote has actually happened. What the world will see today will be evidence of how the speculators can fuck up the world over a hiccup.
Here's my speculation: on the day the tie is actually broken (which is years down the road) the markets will have recovered. Completely.
DemocratSinceBirth
(99,710 posts)One of my motivations for hoping Britain would vote to remain is because Trump and most of the right wanted them to vote to leave.
I do think the Brits in their desire to stick it to The Man have stuck it to themselves.
In a week we will be talking about something else.
yellowcanine
(35,699 posts)Dow is -437. Institutional investors will be buying today.
JRLeft
(7,010 posts)workinclasszero
(28,270 posts)The little one I had got wiped out in the 90's.
So glad pensions were killed in favor of 401k's.
DemocratSinceBirth
(99,710 posts)Any way, don't do anything ... This will pass...
workinclasszero
(28,270 posts)If I had a guaranteed pension I could count on that. A 401k is a bet in the gambling casino that it will grow and be there when you need it.
I lost that bet as did millions of other people.
yellowcanine
(35,699 posts)The market will bounce back quickly and someone is going to make a lot of money off the people who panicked and sold.
TheBlackAdder
(28,210 posts)whatthehey
(3,660 posts)Silly temporary panics only hurt people who sell.
Joe the Revelator
(14,915 posts)A lot of panic selling to start, then money moving into the US market as a refuge.
DemocratSinceBirth
(99,710 posts)The market is down by 2.59%
That's technically not flat, but not "jump off buildings" bad.
Joe the Revelator
(14,915 posts)It went lower than that, but not for long.
And I agree, 2.59% can be felt, but it can also be made up in a good week. Q2 earnings are coming up in the next month.
DemocratSinceBirth
(99,710 posts)My motivation for wanting the markets to be up is if they go down it's bad for the Democrats. We are the in party and will be blamed.
Also, a lot of people are invested, in their 401ks or through their pensions.
leftynyc
(26,060 posts)It'll rebound next week.
CrispyQ
(36,487 posts)The 1% will take care of their precious market.
DemocratSinceBirth
(99,710 posts)A drop in the market helps the GOP.
yellowcanine
(35,699 posts)Lots of school teacher pension funds have money in the market, for one - TIAA-CREF, for one. School teachers are not the 1%.
CrispyQ
(36,487 posts)yellowcanine
(35,699 posts)The notion that only rich people should be in the market is what keeps people poor. Invest a small amount every paycheck in a moderately aggressive stock fund (60%) and a fixed annuity (40%) and over time you will build wealth. It is called dollar cost averaging. When the stock market goes down your small amount buys more stock. It is a cliche but some cliches are actually true.
Silver_Witch
(1,820 posts)And after small investors are hurt by all the panick mongering on sites like this the poor and middle class will loss and the rich will gain. It is how the market works!
yellowcanine
(35,699 posts)Sit tight. That is why one pays attention to the basics and has a balanced approach. Only if one is leveraged (borrowing money to buy stocks) is there any reason to panic - which a small investor should never do - because that is gambling. Seriously you actually do not have any clue as to how the market works.
CrispyQ
(36,487 posts)The market isn't viable for millions & millions of Americans who barely make enough to get by, much less save for a rainy day. For us, the market is for the professional class & above. Same with health savings accounts & tax cuts. They're great for people who make enough to contribute or qualify, but if you're living on the edge it's squat.
DemocratSinceBirth
(99,710 posts)leftofcool
(19,460 posts)greatauntoftriplets
(175,746 posts)greatauntoftriplets
(175,746 posts)I depend on Social Security and my retirement savings, and they just took a hit.
KingFlorez
(12,689 posts)Believe it or not, there are people on fixed incomes or set for a fixed income after retirement who have money in the market. Plus, a drop could effect jobs in the long run. This is nothing to be flip about.
yellowcanine
(35,699 posts)When it plunges like that at the beginning it nearly always comes back up. Also the Dow had a big gain yesterday, probably partly in anticipation of a "stay" vote. So it was bound to lose that gain and more when the reverse happened. But just as yesterday was an over reaction, so was the plunge this morning.
spooky3
(34,462 posts)cosmicone
(11,014 posts)ending about 10-60 down
spooky3
(34,462 posts)About the trend. Lots of people will see buying opportunities to offset the panic.
However if I were good at predicting the market I would be rich.
yellowcanine
(35,699 posts)I know some people who got out in 2008 and were congratulating themselves for "saving" their gains but some missed the upturn and did not get back in soon enough so they lost a lot of gains. OTOH I did nothing in 2008. I admit I did not look at the quarterly reports for a couple of years. But I am damn glad I did not try to time the market. I got everything back and much more. I am never getting out of the market. I will take the required minimum distributions starting when I am 70 and reinvest anything I do not need to live on right back in the market. The key is to have a balanced portfolio (I do 60/40; stocks/fixed annuities) and then automatically rebalance it every year on your birthday.
spooky3
(34,462 posts)But maybe the creeping up will take place over more days.
yellowcanine
(35,699 posts)Some thought we were overdue for one. Still not a reason to panic though, even if the Dow goes down 10% - the usual amount considered a correction.
Adrahil
(13,340 posts)This is an emotional response and most people will realize it as the day progresses. The real economic impacts are a year or more away.
Agnosticsherbet
(11,619 posts)Silver_Witch
(1,820 posts)The rich will get richer And the poor will loose everything yet again!
liberal N proud
(60,338 posts)Then it will continue to drop in after hours trading.
bigwillq
(72,790 posts)And then probably stabilize late next week.
whatthehey
(3,660 posts)Recovered in next two weeks.
B Calm
(28,762 posts)a new excuse to steal your investments.
I look for a huge drop.
B Calm
(28,762 posts)DrDan
(20,411 posts)CrispyQ
(36,487 posts)For all the shit I had to take above for saying the 1% will take care of their market. Will it last forever? I don't think so, but they will prop up the market for as long as they can.
The system isn't broken, the system is fixed.