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This is good. Let it hit wall street too. They thought he would be amazing for them while he said exactly what he'd do. While we're eating instant ramen let their funds lose a few billion. Maybe they'll see it then.
Exactly. I want all the boomer fucks who voted for this dude and all the young people who thought this is a good idea who cosplay wolf of wall street to feel it in their wallets as much as possible. The only thing they see is the stock market
Ironically for young people the pain may be short, but it'll make stocks cheap for us, it's great to be paying into a 401k now during a downturn!
For all the boomers that voted for this who are pulling money out of the stock market when it's down... Womp womp
That assumes the dollar doesn't take a permanent tumble. If the world decides the US is too volatile and starts using the Euro as their reserve currency, we may find the US market never actually recovers, since so much of the value of our companies are tied in with their leadership abroad
Remember, past performance is not an indicator of future results. Just because every past downturn ended and pushed US stocks higher at some point, doesn't mean it will always happen, particularly as we piss off our closest allies.
We have/had a magical economy that never went down even when others stagnated. Turns out the secret ingredient was democracy. Oops
But if we could find a way to crush the euro, maybe by making them pay for their own war in Ukraine and by making them buy weapons packages from us using only dollars, we can keep the dollar propped up long enough to redraw borders and strip enough copper and regulation out of the walls that foreign investment in the form of building new factories in the usa begins to look like an attractive investment, especially when paired with a populace primed by de-funded schools to be well suited for such jobs...
Man this comment got sadder and sadder lol
lol I read it as if the poster was saying it all in one tear jerking breathe.
I am not a finance person but I always wondered if the market power would “slosh” back towards the “shallow” end of the money pool at some point and if the result would be the US becoming a new “3rd world” country.
I'm looking forward to seeing Indian tech companies outsourcing their tech work to formerly Elon-employed punks in the US, for pennies on the rupee. The punks are auditioning for it right now, and clearly their work will be shit but at least it'll be cheap.
We really need to just start forming old school mobs and dragging these fucks out onto the street and performing public executions. It worked extremely well for France.
I've already seen other threads around lemmy with people saying that their 401k has dropped 17% since start of the year, that their retirement date is now pushed out 8 years.
Retirement savings should be shifted to more bonds and less stocks the closer to get to retirement
How much longer will they have to work when they lose 40%-60%?
I mean... not doing the actual complex math...
but uh, ballpark, if your 401k value halved, and you are say between 40 and 50 years old... you'd now have to work for somewhere around 10 to 20 more years than you planned.
So basically, you'd may never be able to fully retire, work till you die.
It would be different for different exact situations, how long it takes for the market to recover...
But yeah... its pretty fucking bad.
That's already the case for many people. Especially in America, where healthcare is largely impacted by employment status, it's definitely a thing.
And that's why 401ks are typically worse than pensions...
You realize that many boomers did not vote vor him. And his actions will reverberate throughout the world.
Your gleeful wishing of death and despair to people who have worked their entire life is somewhat gross.
Look in the mirror and realize it was youth who gave the man a pass. Especially young males.
You’re right. It’s actually more correct to blame white men and their trad wives
The comment you're replying to specified very clearly that they were talking about those who voted for Trump. Not the entirety of boomers.
Yes. Fighting amongst ourselves is what the oligarchs want.
Their gleeful wishing of death and despair to people who have done nothing to them except mind their own fucking business is somewhat gross. Reap what you sow. I'll care about your 401k when y'all decide to care about human rights. Trump is in office because of culture war bullshit about gays and trans folks more than anything else. So I don't want to hear it. Y'all collectively decided that punishing people who have done nothing wrong is more important than your retirement so now it's time to lie in that bed you've made.
I am not a boomer, fyi.
You do the 'collective' thing while collectively assuming and willingly punishing any old person.
You know there are old people who didn't vote r. There are old people who fought and fight for peoples rights. The entire civil rights battles won were by those you wish harm on. All the gay rights were fought by those you wish would lie in their own bed. There are old people who welcome differences, and minded their own business. And there are Old people who HAVE DONE NOTHING WRONG.
Continue with your boomer hate while ignoring real shit.
Your argument is hypocritical and too full of y'alls.
It is the reps who have ignored their constituency while being bought for a few grand to do the bidding of corpos and oligarchs, and certain ultra national lobbying groups you should have real issue with.
Nowhere in that statement did I call out Boomers specifically. This is a cross generational problem. I call out bullshit culture war voters which are, overwhelmingly, older folks. But they're not completely to blame. There are plenty of younger working age people that fall for this same brain dead bullshit. But that's what it is, is brain dead bullshit.
I've got plenty of real issues with all sorts of real shit, that's just one of them.
I didn't mean this in such a way as to call you out personally. Sorry if it seemed that way. I'm just sick and fucking tired of human rights being constantly stripped back for everyone and these fucking fools still just going along with it all happy and joyful because someone else is going to get killed to keep their retirement fund happy. With all due respect, of which exactly none is due, fuck that.
This isn't an age issue. I don't care how old or young anyone is. I care about them actively speeding us all into hell, collectively, because people think the DOW average is more important than the lives and livelihoods of our citizens.
Money is the root of all evil.
Fair enough. It was my interpretation. Maybe the phrasing.
Anyway. It seems we are on the same page.
Apologies for getting it wrong.
Eh, I don't think you need to apologize for anything. I am being a grumpy, cranky old asshole after all.
And you're right, anyway. No group of people are truly homogenous. Not all Boomers are bad in the same way that not all Democrats are good. I lose sight of that sometimes and I notice that others do too. It is in our human nature to group and categorize people and things and then to make sweeping assumptions about those groups. I try not to fall into that trap when I can notice it, but I'm just as fallible as the next guy.
If we're pucky, most of those Wall Street rats will try flying out of the building