Is this the long awaited market crash?
🗣️ DISCUSSION 💬
S&P futures down 2.5%, NASDAQ futures down almost 4.5%. BTC 6%. High flying stocks like Nvidia down 12%.
This is going to be a very expensive, painful and interesting day.
When the Trump administration quits using the Keynesian economic bullshit that the federal government and the Federal Reserve have used to endlessly print money and inflate assets like stocks and real estate to the moon, you're going to see a pretty nice correction
Too early in the Administration for that to have occurred as Trump's fiscal policy hasn't had any time to actually work. Important to note that the stock market imploding is not some nightmare scenario for the average American anymore. The average American worker has no retirement savings, no assets, etc.
What about those 401(k)'s ? Aren't there still plenty of those around?
Absolutely. Numbers I've seen quoted online say that around half of Americans have 0 retirement savings at all, and the majority of Americans under 40 have less than 100k saved for retirement.
Obviously, losing 10-20k of retirement savings for most people would be bad, but the people who are reaping the most benefits from the hyperinflated market and assets are the corporations shoveling hundreds of millions of dollars into them
I am waiting for the rug pull. We know it's coming, they'll do everything in their power to crash the economy and blame Trump and the republicans. It happens every time and a huge correction is needed. Housing is out of touch for the average income families. Things have to correct, especially at the debt levels this country is at and the current interest rate. I get that a slash and burn of government employees and expenses will help, but I am interested in seeing what Trump will do to correct it. I am surprised that the lamestream doesnt have the chyron going 24x7 with orange man bad - interest rates bad unemployment rate bad. Thinking the shock and awe of all the ass kicking Trump with EOs and such are delaying it.
You are correct on the average American. There's that study that shows a few years ago, 60% or so Americans couldn't afford a surprise $400 bill. I know it's been tough for us with the increases in car and home insurance, that damn near doubled on us, same with food and other costs. Millions are living on credit cards and those things are in the high 20% interest wise. Hell, my gas cards were low 30's interest rate and I am north of 800 credit rating wise, it's crazy. I am fortunate as we have very little revolving debt. Others that I know are not so luck. We need a crash to bring things back down to normal.