Retirees 'stunned' as market turmoil over tariffs shrinks their 401(k)s

QP! said:
While i am not saying you or anyone has to agree with Biden's stimulus strategy it was pretty near consensus that a lot of post covid stimulus was needed and he smoothie should not make the mistake, many said Obama made in not going big enough and allowing the economy to lag to long.
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Don’t forget just how deep the 2008 crash was


It was a huge trough
 
Earl said:
The sky is not falling.

It will fall in about two years if the national debt is not addressed.

Put on your big boy pants.
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Sure

You have no idea

You didn’t think there would be a crash in 2008

I was telling people that it was coming

I was correct
 
evince said:
Don’t forget just how deep the 2008 crash was


It was a huge trough
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Yup and Trump ended up benefiting from the longer path to recovery Obamas stimulus policy created.

So many wrongly credit Trump with a super first term economy before covid when all Trump did was surf the recovery wave Obama handed him as anyone following Obama could have.

Trump-Economy-01.jpg
 
QP! said:
Yup and Trump ended up benefiting from the longer path to recovery Obamas stimulus policy created.

So many wrongly credit Trump with a super first term economy before covid when all Trump did was surf the recovery wave Obama handed him as anyone following Obama could have.

Trump-Economy-01.jpg
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Because he and the republicans did virtually nothing for two years

Then covid hit

Trumps instinct Was to just pretend it was all a hoax
 
QP! said:
While i am not saying you or anyone has to agree with Biden's stimulus strategy it was pretty near consensus that a lot of post covid stimulus was needed and he smoothie should not make the mistake, many said Obama made in not going big enough and allowing the economy to lag to long.
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That was Biden's mindset, we should have gone bigger before (under Obama) so I'm not going to make the same mistake twice. The phrase I heard used was he was fighting the last war. It wasn't the same situation.

The economy had reopened and we had already passed two stimulus packages. Thus the argument that a third would overheat things and increase inflation.

It's certainly possible to go in eyes wide open and think the stimulus was the right thing to do, even with the inflation risk. But it wasn't a situation of no one saw this coming.
 
cawacko said:
That was Biden's mindset, we should have gone bigger before (under Obama) so I'm not going to make the same mistake twice. The phrase I heard used was he was fighting the last war. It wasn't the same situation.

The economy had reopened and we had already passed two stimulus packages. Thus the argument that a third would overheat things and increase inflation.

It's certainly possible to go in eyes wide open and think the stimulus was the right thing to do, even with the inflation risk. But it wasn't a situation of no one saw this coming.
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no one saw what coming wack


Me and US CITIZEN tried and tried to tell you all it was coming
 
evince said:
Because he and the republicans did virtually nothing for two years

Then covid hit

Trumps instinct Was to just pretend it was all a hoax
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He gave big tax cuts to the rich which slowed the progress from the Obama hand over but were but enough to fully derail it.

He could have done the same this time as the Biden inflation was tamed and his longer term investments in infrastructure would have started paying big dividends during this term but instead we got Trump unleashed this term, with no smart people in the room keeping him from his worst instincts and we are seeing first hand how incredibly stupid Trump is when it comes to things like tariffs and wars and how when he is in full control the management of everything goes to shit and grift
 
cawacko said:
That was Biden's mindset, we should have gone bigger before (under Obama) so I'm not going to make the same mistake twice. The phrase I heard used was he was fighting the last war. It wasn't the same situation.

The economy had reopened and we had already passed two stimulus packages. Thus the argument that a third would overheat things and increase inflation.

It's certainly possible to go in eyes wide open and think the stimulus was the right thing to do, even with the inflation risk. But it wasn't a situation of no one saw this coming.
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You are no economic expert dude

You turned out to be a fool in what you backed when you came here
 
QP! said:
He gave big tax cuts to the rich which slowed the progress from the Obama hand over but were but enough to fully derail it.

He could have done the same this time as the Biden inflation was tamed and his longer term investments in infrastructure would have started paying big dividends during this term but instead we got Trump unleashed this term, with no smart people in the room keeping him from his worst instincts and we are seeing first hand how incredibly stupid Trump is when it comes to things like tariffs and wars and how when he is in full control the management of everything goes to shit and grift
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I think his plan was just to grift as much as possible while president


He doesn’t care about people or even his own companies

That why he goes bankrupt so often

Even his own businesses he sees as a gritting opportunity
 
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evince said:
no one saw what coming wack


Me and US CITIZEN tried and tried to tell you all it was coming
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Wait. You and uscitizen (who hasn't posted here since like 2010), tried to tell me in 2021 that the proposed stimulus would increase inflation?

This is some Matrix level sh*t.
 
evince said:
I think his plan was just to grift as much as possible while president


He doesn’t care about people or even his own companies

That why he goes bankrupt so often

Even his own businesses he sees as a gritting opportunity
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Trump is just a con man thru and thru.

He tried to be a legit business man over and over with daddies money and had failure after failure after bankruptcy as he is useless at managing anything.

If he did have such a horrid reputation in NY City amongst the real businessmen he probably would have started a Bernie Madoff Ponzi scheme company.
 
cawacko said:
I despise tariffs. I am a Milton Friedman free trade disciple (and have been told on this board that I don't care about working class people because I support free trade). So my comment is not a defense of Trump and certainly not a defense of tariffs.

When Biden ignored warnings in 2021 that his stimulus would be inflationary and signed it anyway, was that because he was poorly educated or is there another explanation for him doing it?

And interesting no one is talking about markets hitting record highs yesterday? Think people are still complaining about their 401(k)s?
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Older workers and retirees suffered severe, immediate 401(k) and IRA losses during the 2008 financial crisis—dropping 20% to over 40% depending on asset allocation—leaving many with too little time to rebuild before leaving the workforce.

Many near-retirees were forced to postpone their retirement dates by several years, continue working past planned milestones, or re-enter the labor force at low paid jobs after being laid off.

For a significant segment of older Americans, the shortfall contributed to rising senior bankruptcy rates, forced downsizing, and increased reliance strictly on Social Security.
 
cawacko said:
That was Biden's mindset, we should have gone bigger before (under Obama) so I'm not going to make the same mistake twice. The phrase I heard used was he was fighting the last war. It wasn't the same situation.

The economy had reopened and we had already passed two stimulus packages. Thus the argument that a third would overheat things and increase inflation.

It's certainly possible to go in eyes wide open and think the stimulus was the right thing to do, even with the inflation risk. But it wasn't a situation of no one saw this coming.
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It's a damned if you do, damned if you don't situation as you will be second guessed either wayb with no way to know how the counter factual plays out.

Had Biden not provided the stimulus and the US tipped into recession he would have been escoriated by much of the world's economists.

What i look at as the most important measure for global events is the comparative data and since the US came out of covid the best of all countries in the world whether they did more or less stimulus i think second guessing and believing it could have been better if....

Is pointless.
 
Guno צְבִי said:
Older workers and retirees suffered severe, immediate 401(k) and IRA losses during the 2008 financial crisis—dropping 20% to over 40% depending on asset allocation—leaving many with too little time to rebuild before leaving the workforce.

Many near-retirees were forced to postpone their retirement dates by several years, continue working past planned milestones, or re-enter the labor force at low paid jobs after being laid off.

For a significant segment of older Americans, the shortfall contributed to rising senior bankruptcy rates, forced downsizing, and increased reliance strictly on Social Security.
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I'm not exactly sure what you're saying here in response to what I wrote, so instead of responding to a wrong assumption I'll ask for clarification.
 
It was same under Obama where the US came out tops amongst all nations from that liquidity crisis.
 
Which was the opposite of how Trump managed covid where the US was last amongst peer nations
 
cawacko said:
I'm not exactly sure what you're saying here in response to what I wrote, so instead of responding to a wrong assumption I'll ask for clarification.
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In regard to the market today not seeing a problem and older workers/retiree's struggling
 
cawacko said:
Wait. You and uscitizen (who hasn't posted here since like 2010), tried to tell me in 2021 that the proposed stimulus would increase inflation?

This is some Matrix level sh*t.
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She's nuts. You may as well try talking logically to a drunk, it would be the same result.
 
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