General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsAnd the markets go up
If you are well off and tisk tisking the protests. Or if you support the cause but dont want to be in a large crowd. You can take on the real looters.
Move everything to cash. 401k, IRA etc. Sure you may miss out on some of the greed rally taking place. But you are tacitly supporting the status quo by keeping your money in a rigged system.
It wont do much if those with bigger bankrolls dont go along, but they can be pressured to do the right thing.
MichMan
(11,932 posts)At least that what they advised everyone else should do
Squinch
(50,950 posts)I have it in some things that return about 4% a year. So I'm ahead of many who stayed in the market.
Plus, I predict there will be another CV wave and another plunge. I'll get back in then.
ProfessorGAC
(65,049 posts)I know we have terrible UE, but literally 78% of the consumer economy & all of the other 22% has been in full operation.
The virus triggered a correction, and long term holders took their 8 year yields, so it overcorrected.
It's inching it's way back toward where it should have been.
There was never an overall microeconomic rationale for a Dow at >29k.
24-26,000 would have been more in line.
All that said, I think there is some casino thinking going on and the Dow, S&P, and Russell seem overvalued by 5 - 7%.
A renewal of the CV concerns due to carelessness and the gatherings all over the country will trigger another correction. I hope I'm wrong and we don't have a wave of deaths, but if it does, we'll be posting about all the red numbers.
PoindexterOglethorpe
(25,858 posts)I know that some here sold everything after Trump was elected, which means they've missed out on a significant amount of gains.
The other thing people don't understand is that the markets tend to make their big moves in only a handful of days, so unless you can get a newspaper from the future, you'll miss out.
And if I move all my money to cash, it will steadily lose value. Thank you for your well-intended advice, but I cannot afford to liquidate everything.