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  #586  
Old 12-23-2018, 03:32 PM
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OT - Dow plunges 1,175 - worst point decline in history
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Originally Posted by joosttx View Post
No one takes better care of your money or children than you.
I disagree about money. Many folks are financially-economically illiterate. That’s why so many 50-64 year olds have little or no retirement savings (about 50% of this cohort) and will be almost entirely reliant on social security for retirement income. For folks with retirement saving, the median is $17k (average is much higher). We spend too much and save too little.


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Last edited by veloduffer; 12-23-2018 at 03:34 PM.
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  #587  
Old 12-23-2018, 03:49 PM
OtayBW OtayBW is offline
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Originally Posted by MattTuck View Post
You are right. I meant to say that Trump was allegedly asking aids if he could fire Powell. Not sure that is any better.
Gotcha. Either way, what will be interesting is whether the will be any market whiplash on Monday resulting just from the INQUIRY!....

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  #588  
Old 12-23-2018, 04:12 PM
XXtwindad XXtwindad is offline
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Originally Posted by veloduffer View Post
I disagree about money. Many folks are financially-economically illiterate. That’s why so many 50-64 year olds have little or no retirement savings (about 50% of this cohort) and will be almost entirely reliant on social security for retirement income. For folks with retirement saving, the median is $17k (average is much higher). We spend too much and save too little.


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Much of this thread eludes me, frankly. But, I do however, appreciate the juxtaposition of your last statement with all the Speedvagens, Pegorettis, Moots, etc in the classified section.
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  #589  
Old 12-23-2018, 04:51 PM
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Quote:
Originally Posted by veloduffer View Post
I disagree about money. Many folks are financially-economically illiterate. That’s why so many 50-64 year olds have little or no retirement savings (about 50% of this cohort) and will be almost entirely reliant on social security for retirement income. For folks with retirement saving, the median is $17k (average is much higher). We spend too much and save too little.


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you should see how some kids are raised too.
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  #590  
Old 12-23-2018, 05:26 PM
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Originally Posted by joosttx View Post
you should see how some kids are raised too.

I think this guy knows about the ‘right way’

https://www.bbc.com/news/world-us-canada-46471438


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  #591  
Old 12-23-2018, 09:59 PM
jet sanchez jet sanchez is offline
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Originally Posted by OtayBW View Post
Gotcha. Either way, what will be interesting is whether the will be any market whiplash on Monday resulting just from the INQUIRY!....

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And now there are reports that Mnunchin has called the top bank execs to get them to confirm that they are liquid....are they trying to create a panic?
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  #592  
Old 12-23-2018, 10:33 PM
unterhausen unterhausen is offline
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that's what I was wondering, what has Mnuchin shorted?
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  #593  
Old 12-23-2018, 11:37 PM
54ny77 54ny77 is offline
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maybe time to buy inverse etf's, agenda-driven headlines notwithstanding.
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  #594  
Old 12-24-2018, 08:45 AM
echappist echappist is offline
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Originally Posted by unterhausen View Post
that's what I was wondering, what has Mnuchin shorted?
i don't usually want to assign the worst of intentions to people, but with this lot...
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  #595  
Old 12-24-2018, 09:09 AM
verticaldoug verticaldoug is offline
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Originally Posted by echappist View Post
i don't usually want to assign the worst of intentions to people, but with this lot...
Nah, too paranoid. I'm not a fan of the Treasury Sec, but he does know this is not something to mess around with. All he can really do is jawbone with promises of liquidity until congress comes back.

It is ironic that people blame the FED for the sell-offs, when in my opinion, monetary policy has been the only effective and timely tool used in the last 8 years, and the politicians are always making the wrong fiscal choice at precisely the wrong time. And this is precisely why FED independence is so important.
Last edited by verticaldoug; 12-24-2018 at 09:17 AM.
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  #596  
Old 12-24-2018, 09:37 AM
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The Fed will save us again as they did in `08
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  #597  
Old 12-24-2018, 09:52 AM
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The Fed will save us again as they did in `08
No one takes care of you money or your kids better than you...
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  #598  
Old 12-24-2018, 09:56 AM
OtayBW OtayBW is offline
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The Fed will save us again as they did in `08
I shutter to think what would be the result if what happened in 2008 happened now....
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  #599  
Old 12-24-2018, 09:59 AM
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I shutter to think what would be the result if what happened in 2008 happened now....
That would be truly scary
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  #600  
Old 12-24-2018, 10:17 AM
echappist echappist is offline
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That would be truly scary
what would be truly scary is something akin to what happened to the Nikkei starting in the late 80's

it was boom town until it wasn't, and the Nikkei barely recovered (on nominal terms) a few years ago. I think it's under that late 80's peak again

edit: apparently the Nikkei hasn't come close to recovering what was a stratospheric 38,000. It hit ~25,000 a few years ago...
Last edited by echappist; 12-24-2018 at 10:21 AM.
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