supporter
Posted by Gunnar Emilsson (+13460) one year ago
My 401k account has dropped faster than a North Korean rocket this month. Kind of reminds me of the weeks preceding the 2008 election, although not nearly as bad.

Yet.

Given the way Trump is running the economy, tariffs, nuclear arms race, etc., I am expecting a recession. Who else is seeing that?
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+5
Posted by tom regan (+834) one year ago
Gunnar, I've seen the same thing. Lots of uncertainty in the markets with lots of volatility.

After Obama and the Democrats fixed the Bush/GOP recession with the stimulus package(a legitimate reason to increase the national debt) we had about 8 solid years of growth. As soon as Trump and the GOP gives a massive tax cut to the wealthy and corporations with a correspondingly huge increase in the budget deficit and national debt, the growth stops. We should be paying down the debt and balancing the budget during times with a good economy. The tax cut was extremely irresponsible. I thought the GOP was fiscally conservative?

In 2000, after Clinton had balanced the budget and was making good progress on paying down the debt from the Reagan years, Bush and the GOP flushed the good economy down the toilet to give already rich people more money, screwing over the middle class in the process. Same story in 2016 with Trump.

And now, the Republicans are talking about reductions in Social Security, Medicare/Medicaid to pay for the tax cuts for the rich. I suggest that everyone within 10 years of retirement, and expect to rely on Social Security, start sampling fancy feast to find your favorite flavor.

I posted this essay a while back in another thread. I suggest everyone who cares about our economy and the middle class read it.
http://www.stonekettle.co...onade.html
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founder
Posted by David Schott (+14013) one year ago
If I calculated it correctly, the DOW is up less than 1% for 2018 and the S&P 500 is essentially flat for the year. If recent trends continue, these indexes will be turning negative for the year.
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Posted by Gunnar Emilsson (+13460) one year ago
Reply to David Schott (#377295)
David Schott wrote:
If I calculated it correctly, the DOW is up less than 1% for 2018 and the S&P 500 is essentially flat for the year. If recent trends continue, these indexes will be turning negative for the year.


You did calculate it correctly....for yesterday. DOW drops more than 600 points today, officially wiping out all 2018 gains.

Yikes.

Where is the Man from the Snowy Plains, to reassure us that the economy is doing terrific under Trump?
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Posted by David Schott (+14013) one year ago
Okay, well, the stock market Trump bump is deflating faster than a Tom Brady football. What else does he have to show for his past 2 years in office?

I don't know about you, but I am beginning to miss "no drama Obama".
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+4
Posted by mikekll (+11) one year ago
Hi Gunnar,
I want to stay away from politics as this site drives me crazy with it's politics.
I have been investing for approximately 23 years. Not saving, investing. There's a big difference there. During Obama's presidency, I had a nice, steady climb in my 401k's and IRA's. The economic data during Obama's presidency was very dull and lackluster (remember, no politics please, just facts). Nonetheless, my investments did well. Now, under the new presidency, our economic markers are off the charts. Economic conditions that haven't been seen in up to 60 years are being obtained. The economy is on fire, GDP is way up, unemployment is way down, etc. etc. Yet, despite this, I agree with you. I have lost MASSIVE ground on my investments since January 29, 2018. It is very, very, very frustrating. As I stated earlier, I have been investing for a long time. I have seen the market up and seen the market down. The economic conditions have always warranted the incline or decline of the market. I don't understand how our economic markers can be so outstanding and our investments are being punished. I don't get it. I do get that I am truly very frustrated as I'm not a young man anymore and I will be relying on my investments in less than 10 years and I need growth, not decline.
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Posted by Gunnar Emilsson (+13460) one year ago
Mikekell, your data and observations exactly mirrors mine.Respecting your wishes, I will remain apolitical (at least on this thread), and say nothing more. Thanks for your post.
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Posted by Ed who fishes (-18) one year ago
This is rich, a month ago when the market was in record territory the Dems were trying to say it was all due to Obama's administation, now a month later when it has dipped they want to lay it at Trump's feet..... never happy are you?
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Posted by Bridgier (+8278) one year ago
You don't actually catch many fish, do you Ed?
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Posted by David Schott (+14013) one year ago
Reply to Ed who fishes (#377317)
So... you're saying the current drop is Obama's fault? Do I have that right?
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Posted by Ed who fishes (-18) one year ago
hhhhmmmmm.... just two fish on this set so far......
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Posted by Gunnar Emilsson (+13460) one year ago
I catch fish, too, but I am a thinking individual and not a numb nuts.

If your whole basis on how you vote is 2nd amendment and or Roe v Wade, then you are a numb nuts and I find no reason to try to carry on an intelligent discourse with you, as your brain is sealed from rational thinking.
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Posted by Frank Burns (+77) one year ago
Ed hasn't matured past middle school.
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Posted by Ed who fishes (-18) one year ago
well Frank Burns and Gunnar, your name calling is pretty much pre-school level, so Middle school is grown-up for you guys...der der der.
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Posted by Gunnar Emilsson (+13460) one year ago
Happy to see you growing into your drooling slope persona, Ed. Cheers!
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Posted by David Schott (+14013) one year ago
Reply to Ed who fishes (#377355)
Way to take the high road, Ed.
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Posted by Ed who fishes (-18) one year ago
ANY road is the high road when it comes to you guys.
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Posted by Ed who fishes (-18) one year ago
...and Gunnar,,,where in my post did I mention 2nd Amendment or Roe v. Wade...? You brought them up, not me.... that's like me telling everyone your really a closet Trump supporter.... taking a bit of a "liberal" license there aren't we...?
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Posted by David Schott (+14013) one year ago
Reply to Ed who fishes (#377360)
It might have been your comment on the Tester vs Rottendale thread:

"Tester has a "D" rating from gun owners and his 2nd amendment votes...that alone used to ensure that Montanan's wouldn't elect him as their Senator. Scary how his 2nd Amendment views have changed." - Ed who fishes

http://milescity.com/foru...1/1#377316
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Posted by Ed who fishes (-18) one year ago
yep, that was posted in response to the moderator thread asking for reasons to vote for either Rossendale or Tester in a seperate forum... not in the thread where Gunnar resorted to name calling....but in the name of fairness I'll grant you, I support the 2nd Amendment. That leaves you to cover the Roe V. Wade comment and the accusation that those two topics alone dictate how I vote.... my comment was in regards to Gunnar making that generalization..... but you know that Dave, you just pick out the easy questions to answer.
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Posted by Gunnar Emilsson (+13460) one year ago
My comment was indeed a generalization and not directed to you, Ed. I do think that people who base their entire voting strategy on those two issues are idiots. If you are a voter who bases your vote on a more balanced evaluation of key issues such as health care, the economy, national defense, etc., then I apologize for inadvertently lumping you together with the numb nuts.

One more addition: If you believe Trump's rhetoric on immigrants, you are a numb nuts.
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Posted by David Schott (+14013) one year ago
How's your Facebook stock doing, Gunnar?

CNBC Main Page on 11/20/2018
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Posted by Gunnar Emilsson (+13460) one year ago
Biggliest economy ever!
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Posted by TheDude (+273) one year ago
You know the Trumpeteers will blame the impending Democratic controlled House for the stock market tumble......
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Posted by tom regan (+834) one year ago
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Posted by The man from snowy plains (-236) one year ago
Quit your whining. If you play the Wall Street's Casino. Diverse into physical assets. You don't see Warren Buffet crying and whining. BN Railroad is moving coal and oil tankers like the good old days. If ya want SOMETHING too look at, solar and wind projects before they loose their subsidies. Then sell at peak.
As for me,,,Property expansion is working well, Bur don't count on borrowed money for long, Pay cash or stay on the porch. Libor rates are resonable for maybe the next Quarter.
For you nimrod home owners as their only investment refinance ASAP if you can beat your current interest.
Quit blaming your poor investment knowledge on Bankers and Politicians.
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Posted by Gunnar Emilsson (+13460) one year ago
There you have it, folks. Take your investment advice from someone who thinks coal is booming like the good ole days.
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Posted by David Schott (+14013) one year ago
Reply to Gunnar Emilsson (#377578)
I put all my money into the Westmoreland Coal Company.
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+1
founder
supporter
sponsor
Posted by Hal Neumann (+9321) one year ago
“The U.S. Yield Curve Just Inverted”
By Brian Chappatta
BLOOMBERG
December 3, 2018
https://www.bloomberg.com...hat-s-huge
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Posted by David Schott (+14013) one year ago
The Dow Jones Industrial Average is now down over 7% for 2018. The worst performance since the George W. Bush administration in 2008.
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supporter
Posted by Bridgier (+8278) one year ago
Maybe they just need to talk to Snowy to get their confidence back...
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Posted by Gunnar Emilsson (+13460) one year ago
It's just our Republican science at work, folks. All explained here.

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moderator
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Posted by David Schott (+14013) one year ago
Dow's worst week since... well... since the last time the Republican Party was in charge of our nation. Thanks, GOP.
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+8
Posted by tom regan (+834) one year ago
Stock market in the tank, massive increase in national debt, GMC shutting down factories, corporate stock buybacks for the wealthy who just got a massive tax cut, minimal reinvestment in business, continued stagnant wages, massive socialism for farmers due to tarriffs, wasting billions for a wall instead of effective border security, government shutdown.....#MAGA I guess.
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+6
moderator
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Posted by David Schott (+14013) one year ago
Reply to tom regan (#377651)
Yes, it is very frustrating. Worst Christmas Eve Day decline in the history of the U.S. stock market. Trump is hopelessly out of touch. The art of the deal dealer is digging in his heels to the detriment of average Americans and to the detriment of his presidential legacy.
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+2