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[W:307]Biden Hitting Your 401k

VySky said:
Bidenflation hurting the projected retirement date? DOW down 1200+ today. The middle class has to pay for the Democrats stupid spending history.
The Fed keeps raising rates forcing companies to layoff. That also crashes stocks. Sorry middle class America, its time for you to pay up
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Not "Biden" anything.........this is from high demand, along with many corporations refusing to lower costs and profits they saw in the pandemic (Trump's screwup)
 
tshade said:
Not "Biden" anything.........this is from high demand, along with many corporations refusing to lower costs and profits they saw in the pandemic (Trump's screwup)
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It’s Bidenflation. Plain and simple.
 
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
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There is zero chance of a capital gains tax hike that's retroactive to 2021. File that under "Never going to happen."

There is only a modest chance of any capital gains tax hike at all, and only if Dems get very lucky in the midterm elections...not only retaining both houses of Congress but also increasing their majorities.

As a Dem, I'd be fine with hiking it somewhat. But it isn't a top priority.
 
VySky said:
Bidenflation hurting the projected retirement date? DOW down 1200+ today. The middle class has to pay for the Democrats stupid spending history.
The Fed keeps raising rates forcing companies to layoff. That also crashes stocks. Sorry middle class America, its time for you to pay up
Click to expand...
If you are that unnerved about the day-to-day movement of the stock market, then you have neither the mindset nor the fiscal discipline to be investing in it at all. Just buy bonds if you are that risk-averse.
 
Gatsby said:
If you are that unnerved about the day-to-day movement of the stock market, then you have neither the mindset nor the fiscal discipline to be investing in it at all. Just buy bonds if you are that risk-averse.
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The market down over 23% in 9 months is indeed taking it in the shorts. And you’re right, some find that ‘acceptable risk’ and I support their assessments. I’ve been in cash for the most part.
 
VySky said:
The market down over 23% in 9 months is indeed taking it in the shorts.
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It happens. Some months it's down, some months it's up. Just hold for a very long time and you will (probably) do very well.

And you’re right, some find that ‘acceptable risk’ and I support their assessments. I’ve been in cash for the most part.
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Aside from a small cash reserve for emergencies, I basically park everything in Vanguard index funds and buy every month. I figure anytime the market goes down, it just means I can buy more stock for the same amount.

But I'm in my 30s; I suppose I'll probably start gradually moving some of that from stocks to bonds as I get older.
 
Gatsby said:
It happens. Some months it's down, some months it's up. Just hold for a very long time and you will (probably) do very well.


Aside from a small cash reserve for emergencies, I basically park everything in Vanguard index funds and buy every month. I figure anytime the market goes down, it just means I can buy more stock for the same amount.

But I'm in my 30s; I suppose I'll probably start gradually moving some of that from stocks to bonds as I get older.
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The old rule of thumb to take 100 minus age and that is a good ratio split between stocks and bonds. However, bonds are getting worked over as well. Dollar cost averaging is a good approach
 
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...
Trump lost almost 3000 points in the Dow in one day. Guess he hit my 401k harder.
 
So typical of the idiot left. Just like with gas prices. Gas prices skyrocket...its not Bidens fault. Gas prices go down a little "Look what Joe did!"

Massive inflation...its not Bidens fault. Lies about 'zero' inflation..."Look what Joe did!" Market takes another dump..."its not Joe's fault....its...its...Trump!!!!"

****ing morons.
 
tshade said:
Simple minds will see it that way, yes----------the kind Trump played all his life....
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Trump...Trump...Trump..... lol....
 
VanceMack said:
So typical of the idiot left. Just like with gas prices. Gas prices skyrocket...its not Bidens fault. Gas prices go down a little "Look what Joe did!"

Massive inflation...its not Bidens fault. Lies about 'zero' inflation..."Look what Joe did!" Market takes another dump..."its not Joe's fault....its...its...Trump!!!!"

****ing morons.
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no one ever said that
 
Another nice run down the crapper eh? Biden is the gift that keeps giving

biden crash.jpg
 
This pops up every couple of months and it’s really sad.
 
Zerohedge.

Dismissed with ridicule.
 
The truth of the matter is, the longer Democrats are in charge the higher your taxes will be, the higher inflation will be and the more homelessness and poverty this country will have. MAGA
 
hoopsnake said:
The truth of the matter is, the longer Democrats are in charge the higher your taxes will be, the higher inflation will be and the more homelessness and poverty this country will have. MAGA
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Facts matter more than MAGA fabricated so called truths.
 
Court Jester said:
Doubling the capital gains tax will lead to a huge sell off, and money moved off shore.

Biden never ran a business, he clearly is clueless about how INVESTORS drive the economy. But to Biden wealth is only deserved by people like his son getting paid off.
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Most of their money is already squirrelled away in offshore tax havens. My heart bleeds for those poor, struggling, destitute corporations and their £3 trillion hidden away. These people cost the US billions in lost tax revenue every year...
www.imf.org

The True Cost of Global Tax Havens – IMF F&D

Nicholas Shaxson explains why the many billions attracted by tax havens do harm to sending and receiving nations alike, and how best to tackle this global economic challenge.
www.imf.org
 
Drip…… drip…… maybe if Biden keeps it up illegals will flee America like the crap holes they left.
 
More good news from the Democrats

----------------

Stock Market Tanked 14 Percent Since Biden’s Inflationary Boondoggle Passed​

The stock market continued its downward spiral on Thursday as the economy struggles to cope with Democrats’ reckless spending adding fuel to runaway inflation.

All three benchmark indexes closed under their opening value with the Dow Jones Industrial Average down more than 450 points. The NASDAQ dropped nearly 3 percent Thursday and the S&P 500 fell by nearly 80 points.

thefederalist.com

Stock Market Tanked By 14 Percent After Biden's Inflationary Bill

The stock market continued its downward spiral Thursday as the economy struggles to cope with Biden's reckless spending.
thefederalist.com thefederalist.com
 
And the carnage continues to mount

=======

Friday's sea of red sees S&P record worst monthly decline since March 2020 - Newsquawk US Market Wrap​



  • SNAPSHOT: Equities down, Treasuries down, Crude down, Dollar up.
  • REAR VIEW: US Core PCE above expected; Abysmal Chicago PMI; UoM headline revised lower; Brainard notes monetary policy will need to be restrictive for some time to have confidence inflation moving back to 2%; Barkin reserving judgement for size of November hike; Russia officially Annexes the four Ukrainian regions; OPEC+ to cut production by 500k-1mln BPD next week; NKE growth margins to remain pressure through year-end; Soft MU guidance; Weak CCL earnings.
  • WEEK AHEAD PREVIEW: Highlights include: US ISM, RBNZ, RBA, OPEC+, US and Canadian Jobs Reports. To download the report, please click here.
  • CENTRAL BANK WEEKLY: Reviewing Banxico, RBI; previewing RBA, RBNZ, ECB Minutes. To download the report, please click here.
View the full market wrap
Or why not try Newsquawk's squawk box free for 7 days?

MARKET WRAP​

Equities continued to stumble on Friday to see the S&P break through 3600 heading into the close, and well beneath highs of 4100 just a few weeks ago. Meanwhile, the Dollar index reclaimed 112.00 in the risk of conditions while Treasuries sold off, particularly heading into the settlement - perhaps aided by month/quarter-end flows. Crude prices were also lower in fitting with risk and the Dollar while the latest OPEC+ sources talking of a 500k-1mln BPD output cut did little to support the crude benchmarks ahead of the meeting next week. In equities, earnings were abysmal with Nike (NKE) margins heavily disappointing last night while Micron (MU) cut guidance and Carnival (CCL) posted a deeper loss per share alongside woeful guidance. US data saw PCE come in hotter than expected, in fitting with the hot CPI report, while consumer spending was revised lower - adding to demand concerns and potentially Q3 GDP woes. The Chicago PMI added to the growth concerns after missing all analyst expectations while the final UoM survey was revised lower with inflation expectations revised higher in the 1yr forecast and lower for the 5yr forecast. Fed speak was also hawkish with Brainard affirming her commitment to avoiding pulling back prematurely. On Geopolitics, Russia's President Putin noted Russia will defend its land with all means and will work to increase security in the new regions and called on Kyiv to stop military actions and return to negotiations after confirming the annexation of four Ukraine regions. The annexation led to more sanctions imposed on individuals from the US related to the annexation, something the west deems illegitimate.

FED​

Vice-Chair Brainard noted policy will need to be restrictive for some time to have the confidence in inflation moving back to the 2% target, adding she is committed to avoiding pulling back prematurely. Brainard said that uncertainty is high and there are a range of estimates on the peak FFR. Brainard also stated that spillovers of monetary policy surprises between tightly linked advanced economies could be half the size of their own-country effect on local currency bond yields.
Daly (2024 voter) is comfortable with the median Fed rate path projection of 4.0%-4.5% by year-end and 4.5%-5.0% in 2023, while she added the actual rate path will depend on data and expects to hold rates steady for at least all of 2023 after rate hikes. Daly reiterated additional hikes are the right thing to do, but how high depends on the data and they are not on a pre-set course. She hopes to get to 2% inflation by the end of 2023 or close to 2024 but it will chip away at it earlier than that.

Zerohedge

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