Winning...the economy under Trump - page 46
Despite the doomsday predictions after the election, the economy is roaring. "The Bureau of Labor Statistics released its newest jobs report on Friday, and the data clearly show, under the... Read More
Dec 10Occupation: RN Specialty: 7 year(s) of experience ; Joined: May '10; Posts: 1,854; Likes: 1,669Quote from nursej22If you lost $80k this close to retirement, it's either a very small percentage of your portfolio, or whoever is handling your portfolio is doing something very wrong and has you in the wrong kind of funds.My previous comment characterizing serious declines in the markets and my retirement accounts was because I plan to retire in a year or two and I have lost the equivalent of a years worth of income. If I was ten years younger it would be easier to adjust to that type of loss.
Also, I live in a rural area that depends on agriculture, and I find it sad to read about farmers filing for bankruptcy as a result of the whims and gut feelings of an unscrupulous grifter.
And no, the tax cut is not going to make up for my retirement account loss. I estimate a tax reduction of $2500 this year.
If you are going to blame Trump for the losses this year, its only fair to look st how much you've gained under his presidency. I'm guessing overall, pretty good?Last edit by SC_RNDude on Dec 10 : Reason: Typo
Dec 11Joined: Oct '02; Posts: 60,758; Likes: 17,917Quote from SC_RNDudeSounds like a deflection from a discussion of the current situation.If you are going to blame Trump for the losses this year, its only fair to look st how much you've gained under his presidency. I'm guessing overall, pretty good?
Isn't it fun how we can spin things, In the beginning of this thread people were quick to point out Obama's contributions to the economy when Trump was elected and his effect that lingered on and couldn't give Trump credit.
Now that we've finally started giving him credit for the current economy it's not such good news.
But yes, for me personally I'm still on the plus side over the past two years under Trump even though the last year has been negative overall it's still positive since he was elected. It's positive over the past ten years. That's how I hope things should be, it's the sale they gave us when they canceled our pension. "You're going to see gains so you can retire comfortably!!". Is it "pretty good"? Meh...if this keeps up it's not going to be even "good". I'm still hopeful in the long run things aren't going to stay this bad that it's just a downturn in the stock market that we always see from time to time.
It is indeed good to look at the long-term picture.Last edit by Tweety on Dec 11
Dec 11Joined: Oct '02; Posts: 60,758; Likes: 17,917Staying current.
Why did the stock market drop? Trump. - Vox
Trump May Blame the Fed, But a Bear Market Would Be All His | Fortune
Why the stock market is down - CNN
Stock market doom and gloom aside:
Economists: U.S. Economy Will Slow in 2 19, Avoid Recession | Fortune
Dec 11Occupation: RN Specialty: 7 year(s) of experience ; Joined: May '10; Posts: 1,854; Likes: 1,669
Dec 11Joined: Oct '02; Posts: 60,758; Likes: 17,917Quote from SC_RNDude
This is an excellent report, but is October's postings and doesn't reflect some of the turmoil of November. Still, as I've noted above it's not all doom and gloom and hopefully the year will end on a high note.
There was a time we rejoiced over 150,000 being added to the job market, now it's "well that's a slow down".
From one of the articles "The survey shows a tightening jobs market at a time when questions are arising over the broader economy's strength. Most economists are expecting a global slowdown that could infect the U.S., which is coming off its strongest year since the Great Recession ended in mid-2009."
5:10 pmJoined: Dec '02; Posts: 2,985; Likes: 9,739From the New York Times: Investors Have Nowhere to Hide as Stocks, Bonds and Commodities All Tumble - The New York Times
I include the first few paragraphs:
"Most years, financial markets are a mixed bag. A bad year for risky investments, like stocks, might be a great one for safe bets like government bonds. Or, if worries about inflation are hurting bond investments, commodities like gold tend to do well.
"Not this year.
"For the first time in decades, every major type of investment has fared poorly, as the outlook for economic growth and corporate profits is dampened by rising trade tensions and interest rates. Stocks around the world are getting pummeled, while commodities and bonds are tumbling - all of which have left investors with few places to put their money."
Also in today's edition, there is a sobering article about the plight of farmers.
At least one comment from readers calls this the Trump Slump.
Hurry up, Mueller!