I just wish I was trading it (on the short side), but I don't trade on FOMC days.
The market, overall, has been VERY weak in MOST sectors. A small number of stocks have been holding up the indexes. But even those got hit hard today.
I suspect that Powell/Fed are going to war with Trump.
They will try to screw up his admin, possibly to save the Federal Reserve itself from being replaced (we can hope, right?).
I would not be suprised to see a bear market gaining strength, as the establishment tries to destroy Trump's agenda. Expect to see the Fed and others coming out with stories to disrupt the markets.
I suspect that Powell/Fed are going to war with Trump.
would not be suprised to see a bear market gaining strength, as the establishment tries to destroy Trump's agenda. Expect to see the Fed and others coming out with stories to disrupt the markets.
Pretty sure the plan involves crashing the market. Precipice still coming. If not, we will have 4 more years of bs fighting in congress and media.
Well, I went to all cash in my long-term portfolio today.
Bear markets provide a great opportunity to make a lot of money from shorting.
I feel sorry for all the Average Joes and Janes out there who believed their "financial advisor," telling them to do a 50/50 stocks/bonds portfolio split.
The real market interest rates are going up. That means bond prices are going down. If stocks also go down, people who have been dancing about their 401k going up could get crushed when both stocks and bonds crater -- something their "financial advisor" told them would never happen.
How crazy would it be to cash an entire 401k to distribution, chuck it all into BTC, and pretend “income” taxes don’t exist, since none of it is “income”?
Now, I’m really not so sure that this idea applies to 401k’s, as that’s voluntary contracting, and could easily put us in scope of their statutes.
On the other hand, how are they gonna get it? What if I lost my wallet password in a tragic boating accident?
In the case of a 401k, the person volunteered to play the game.
"Voluntary compliance."
You don't have to volunteer to play the game.
But if you do volunteer, then you have to comply with the rules of the game.
Also, 1040 income tax forms require a yes/no answer to "have you sold any cryptocurrency?" If you say no, but the real answer is yes ... well, that's a problem.
Yeah, ugly day.
I just wish I was trading it (on the short side), but I don't trade on FOMC days.
The market, overall, has been VERY weak in MOST sectors. A small number of stocks have been holding up the indexes. But even those got hit hard today.
I suspect that Powell/Fed are going to war with Trump.
They will try to screw up his admin, possibly to save the Federal Reserve itself from being replaced (we can hope, right?).
I would not be suprised to see a bear market gaining strength, as the establishment tries to destroy Trump's agenda. Expect to see the Fed and others coming out with stories to disrupt the markets.
Pretty sure the plan involves crashing the market. Precipice still coming. If not, we will have 4 more years of bs fighting in congress and media.
Well, I went to all cash in my long-term portfolio today.
Bear markets provide a great opportunity to make a lot of money from shorting.
I feel sorry for all the Average Joes and Janes out there who believed their "financial advisor," telling them to do a 50/50 stocks/bonds portfolio split.
The real market interest rates are going up. That means bond prices are going down. If stocks also go down, people who have been dancing about their 401k going up could get crushed when both stocks and bonds crater -- something their "financial advisor" told them would never happen.
How crazy would it be to cash an entire 401k to distribution, chuck it all into BTC, and pretend “income” taxes don’t exist, since none of it is “income”?
Now, I’m really not so sure that this idea applies to 401k’s, as that’s voluntary contracting, and could easily put us in scope of their statutes.
On the other hand, how are they gonna get it? What if I lost my wallet password in a tragic boating accident?
In the case of a 401k, the person volunteered to play the game.
"Voluntary compliance."
You don't have to volunteer to play the game.
But if you do volunteer, then you have to comply with the rules of the game.
Also, 1040 income tax forms require a yes/no answer to "have you sold any cryptocurrency?" If you say no, but the real answer is yes ... well, that's a problem.