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[W:307]Biden Hitting Your 401k

Just checking in on how those portfolios are looking. Don't look now, but market is tanking down over 500 points in pre-trading.

CPI came in again hotter

Thanks Joe

CPI Inflation Report: Dow Jones Futures Dive, Treasury Yields Surge Above 4%; Fed Rate Hike Forecasts Rise​


www.investors.com

CPI Inflation Hot; Stocks Roar Back As Yields Do This

Core inflation rose at the fastest rate since 1982, reinforcing rate hike expectations.
www.investors.com www.investors.com
 
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The bigger problem is that the interest futures curve just shifted again, with odds of 100bps in November becoming the most likely outcome and 75bps in December now becoming likely. Also, Fed now projected to hit % by March.

Housing sector is going to crash awful, 30 year mortgage is already over 7%, heading to 8%.
 
I’m feeling very lucky with my sub 7% loan
 
Quite the day on Wall Street
 
VySky said:

Stunned Wall Street Responds To Biden's Shock Proposal To Double Cap Gains Tax​


With stocks tumbling following the report that Joe Biden is considering a proposal that would double the capital gains tax, as investors dump in hopes of locking in existing cap gains rates - an exercise in futility if Biden and the socialists in Congress decide to make such a tax change retroactive to all of 2021 - Bloomberg quickly polled several Wall Street traders who focused on the policy’s implications for investing, and concluded that while it was too soon to panic, prospects of a higher levy on stock profits could spark near-term selling as investors look to skirt a higher rate.

Here are some hot takes, courtesy of Bloomberg:

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com
Click to expand...

I'm up 95% YTD on my personal portfolio. So much for the fearmongering.
 
Allan said:
@VySky time for a quarterly update on your 401K under Biden. These are totals since election to the 1st quarter of this year.

Q1 2024
Dow +42.8%
S&P +46.56%
NASDAQ +92.25%
Russell +33.71%
Click to expand...
So the stock market went up after a major drop due to the pandemic. It would not matter who was president this was going to happen. People go back to work thanks to the vaccine Trump focused on. We no longer have to care for all the elderly people in our nursing homes thanks to lefty leaders failing to protect our most vulnerable in all the major cities across the country. I guess those lefty leaders deserve credit for clearing out those over crowded nursing homes full of dying people more quickly.
The rich and powerful who own those corporations that make up the stock market always do great when the left is in charge. Lots of cheap labor being brought in to replace middle class workers. Unfortunately they will be dependent on government programs to make ends meet now that big business has plenty of workers to keep labor prices down.
I am sure the Rich and Powerful are funding the party of the people. The Rich and Powerful people.
 
PIPEWRENCH said:
So the stock market went up after a major drop due to the pandemic.
Click to expand...
The period starts prior to the drop.

The rest of your post is deranged.
PIPEWRENCH said:
It would not matter who was president this was going to happen. People go back to work thanks to the vaccine Trump focused on. We no longer have to care for all the elderly people in our nursing homes thanks to lefty leaders failing to protect our most vulnerable in all the major cities across the country. I guess those lefty leaders deserve credit for clearing out those over crowded nursing homes full of dying people more quickly.
The rich and powerful who own those corporations that make up the stock market always do great when the left is in charge. Lots of cheap labor being brought in to replace middle class workers. Unfortunately they will be dependent on government programs to make ends meet now that big business has plenty of workers to keep labor prices down.
I am sure the Rich and Powerful are funding the party of the people. The Rich and Powerful people.
Click to expand...
 
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