That still does not answer my question, how many common people have 401 k's? The Market was up all of last year so who gets credit for that money made?
32% of Americans, per the Motley Fool. Not to mention the public employees like teachers who have pensions that are invested in the market.
So would you rather have soaring inflation like most countries in Europe currently or would you rather have a fed imposed recession which would drive market futures and impact 401k’s??? You can’t have it both ways dude. And the guys who is in charge of driving the recession from a Fed perspective is a federalist society Trump appointee. This is another reason why people don’t take you guys seriously. There’s no subtlety in the clownish type of arguments meant to have it both ways as if your tribe is immune to criticism simply because you can lie without remorse. Anyone who would pull their 401K out to retire when the federal reserve is literally publicly imposing a recession is utterly stupid. I for one respect Biden a hell of a lot more for taking it on the nose for the better of American long term. Recessions suck but we live in a Capitalist society. By that definition the economy has to grow and recess in a balanced way. The global inflation coming out of poor supplies due to the pandemic spiked demand for goods that weren’t previously limited. Then you have OPEC corruptly trying to placate a murderous dictator by artificially driving up gas prices in order to help that dictator gain leverage. I for one am proud to have a president who just F-ing gets the job done and doesn’t constantly worry about the next election in a way that drives good healthy policy. Every GOP president right now would be kissing MBS and Putin’s a$$ to get prices down on gas. Every GOP president would have fired the fed chair and installed a lackey willing to suppress a recession and you know that even though you’ll never admit it.
Well we have done a pretty good job already of kicking our own a$$. Aren’t treasury bonds mostly owned here in the US? “Civil War is coming bro!!” - every right winger I know
I’ve been pumping crazy money in my 401k while it’s down. About 25% of my take home. Not too worried, but I’m still young.
I would prefer the Fed be abolished and we return to a currency that is backed by something tangible. Right now we have both soaring inflation and a recession, so the Dems have it both ways, and it sucks. I would let the market drive the economy, not try to fiddle with it in Washington. I just answered the man's question about how many people are invested in 401ks. Personally, I think the federal government should just stay out of the way of the economy. It is the regulators that create the boom and bust cycle in the first place with their attempts to juice lagging economies and slow hot ones. Yep, you don't sell low, you wait it out because the market will go back up. Some people are unfortunate enough to hit retirement when the economy is down. I don't think the GOP does a good job with monetary policy either and I do think they would have tried to work with OPEC to try to get them to increase production, yes. I don't know why you would think I wouldn't agree with those statements.
I don’t think it’s determined yet if we have a recession and if this is a recession it’s an unusual one with very low unemployment. The problem with hard currency is that it prevents expansion because the money supply is so limited and leads to deflation which can be as bad as inflation. one of the reasons why the Great Depression was so bad. Historically the US economies have suffered more upheaval prior to central banks and fiat currencies. Through much of the 19 Century in the US it wasn’t recessions but depressions that happened relatively frequently. Since the US dropped the gold standard while there’s been ups and downs it’s been much more stable than before. Yes timing is everything and I agree the drop in the market isn’t something without consequence. That said we’ve seen bear markets before but overall for most of all of us here’s lifetimes the market has risen overall. This is more an argument for personally keeping a diversified portfolio and also for a greater social safety net so retirees aren’t left destitute because of the market swings.
We had plenty of boom and bust cycles in America pre-Fed. Tying your currency to something tangible also causes it's own issues, including inflation.
