Down goes the Dow

la gente esta muy loca wrote:

agip wrote:

we have a mad king

his crazy and traitorous picks for cabinet show trump will indeed put on huge tariffs,round up people and put them into camps, and slash fed spending by large amounts if he can.

I'm selling a lot of stock, or at least putting stops under the market for a huge amount of my equity portfolio. I don't think the market understands what a crazy president willing to break laws and norms can do to the world and the economy, with a senate all on board with his monarchic tendencies.

At the very least companies will pull back and say 'let's just hold back on hiring and new projects until we see how crazy this guy is going to be.' Which would slow things. And that's the best case.

I'm up c.25% over the last year that's good enough for me to sit and earn 4.6% in a money market account until the dust clears. Don't care if the market rises. I have enough money. Don't want to risk it. Don't need to.

Always remember The Gente First Rule of Panic, be the first to panic or as I use to quote @barnejek (aka Bartek Pawlowski) "You gotta be first or right. If both that's lucky".
Welcome to the Andrew Mellon Club.

la gente esta muy loca wrote:

agip wrote:

we have a mad king

his crazy and traitorous picks for cabinet show trump will indeed put on huge tariffs,round up people and put them into camps, and slash fed spending by large amounts if he can.

I'm selling a lot of stock, or at least putting stops under the market for a huge amount of my equity portfolio. I don't think the market understands what a crazy president willing to break laws and norms can do to the world and the economy, with a senate all on board with his monarchic tendencies.

At the very least companies will pull back and say 'let's just hold back on hiring and new projects until we see how crazy this guy is going to be.' Which would slow things. And that's the best case.

I'm up c.25% over the last year that's good enough for me to sit and earn 4.6% in a money market account until the dust clears. Don't care if the market rises. I have enough money. Don't want to risk it. Don't need to.

Always remember The Gente First Rule of Panic, be the first to panic or as I use to quote @barnejek (aka Bartek Pawlowski) "You gotta be first or right. If both that's lucky".
Welcome to the Andrew Mellon Club.

gentreman wrote:

seattle prattle wrote:

I think this view about financial solvency and generational wealth may be true for some, but does not represent a major portion of Americans, and I think it is unfair to pretend that it does.

1) Choosing to set up one's descendants for life is basically choosing to destroy their lives. The number of people who go on to live happy, productive lives after inheriting "generational wealth" is dwarfed by the number of people who live miserable, unproductive lives with such an inheritance.

2) While any given individual could earn, save and invest in such a way as to leave heirs with generational wealth, collectively this is not possible. Money is only a placeholder. It allows one to buy goods and services. The total goods and services available will not increase simply because everyone has this generational wealth. And whatever goods and services are available will only be available because people are working to make them so - not because we are all sitting on "generational wealth."

agip wrote:

gentreman wrote:

1) Choosing to set up one's descendants for life is basically choosing to destroy their lives. The number of people who go on to live happy, productive lives after inheriting "generational wealth" is dwarfed by the number of people who live miserable, unproductive lives with such an inheritance.

2) While any given individual could earn, save and invest in such a way as to leave heirs with generational wealth, collectively this is not possible. Money is only a placeholder. It allows one to buy goods and services. The total goods and services available will not increase simply because everyone has this generational wealth. And whatever goods and services are available will only be available because people are working to make them so - not because we are all sitting on "generational wealth."

I basically agree

But I could see a 'Smith Family Educational Trust' that would cover college costs...that would be fine.

Or a 'Smith Family Home Downpayment Trust' that gives, say, 20% of the average cost of a new American home to every family member when they hit 25.

Something like that. But yeah the families so rich that the kids don't have to work are not good setups for happiness.

Ghost of Igloi wrote:

Here is agip talking economics, while he channels his inner Robespierre:

“we have a mad king

his crazy and traitorous picks for cabinet show trump will indeed put on huge tariffs,round up people and put them into camps, and slash fed spending by large amounts if he can.

I'm selling a lot of stock, or at least putting stops under the market for a huge amount of my equity portfolio. I don't think the market understands what a crazy president willing to break laws and norms can do to the world and the economy, with a senate all on board with his monarchic tendencies.

At the very least companies will pull back and say 'let's just hold back on hiring and new projects until we see how crazy this guy is going to be.' Which would slow things. And that's the best case.”

this is it wrote:

Ghost of Igloi wrote:

Here is agip talking economics, while he channels his inner Robespierre:

“we have a mad king

his crazy and traitorous picks for cabinet show trump will indeed put on huge tariffs,round up people and put them into camps, and slash fed spending by large amounts if he can.

I'm selling a lot of stock, or at least putting stops under the market for a huge amount of my equity portfolio. I don't think the market understands what a crazy president willing to break laws and norms can do to the world and the economy, with a senate all on board with his monarchic tendencies.

At the very least companies will pull back and say 'let's just hold back on hiring and new projects until we see how crazy this guy is going to be.' Which would slow things. And that's the best case.”

Go easy on him Igy, he's had a rough week.