You're right, this is in no way equal to the depression, but the fact that all gains from the year have been wiped out does affect an awful lot of people. If the market doesn't straighten out soon, Trump will never be re-elected.
Economy is the driving force in someone being elected or re-elected. Remember the old Bush "Read my lips" line? cost him re-election. Same with Carter, that 18% inflation rate killed him.
Feeling pretty good....just got off of work and got a fresh cup of coffee.
Thanks for asking.
Enjoy your coffee and be thankful that you have nothing invested in the stock market
I am, you're wrong...and I'm not the least bit worried.
Obama didn't take me down with his silliness, neither will Trump.
Oh, I'm diversified, but I still have some in a 401 account and don't want to move it all as yet. I just don't like losing money.
If you read the fine print on this CNBC chart, you will see that December, 2018, is "on pace" to be the worst since the Great Depression, which means it will be, IF there is no significant rebound over the next couple of weeks.
Of course, there can be no doubt as to what the OP is hoping for.
Nope, I have retirement money in the market, and not very happy that trump has managed to tank the market. I don't like seeing my hard earned money disappear. Thankfully, I also bought several individual stocks years ago and they are all solid companies and doing well.
Stock market money doesn't "disappear" unless you sell low.
And one flat year does not "tank" the market.
Besides, what are you complaining about? Even at that, you're up about 30% in the two years since Trump was elected.
You greedy capitalists are all alike.
And I was up when Obama was President also, but the market tank in 2008 took several years to get back to where it was. Don't want to see that happen again, especially now that I have less time to make up losses.
There have always been recessions, with recoveries that typically take several years. There have also been long periods of "flat" markets, lasting 10 or 20 years.
If you can't afford to wait out a recession, then you should transfer assets to something more stable.
Tinkerbell, how do you feel that all the gains of the last year have been wiped out? Do you really not care about money, or do you have nothing invested to begin with?
Look, we had a similar downblip over a couple of months about a year ago (red arrow), followed by a recovery, so no, I don't concern myself about blips like that, and yes, I do have 401K money in the stock market.
When and if I start worrying about things like that when I near retirement, I'll transfer assets to less volatile investments.
I really hope you're right and it is just a blip or correction and not a bubble.
I'd say we are right on track, historically speaking.
We just got through one of the long "plateaus" (2000-2012).
That's not what I said... I said he was hoping it would be the worst December since the Great Depression (an 8% downturn, say), presumably because he hates Trump so much, not that it would BE another Great Depression.
And he was "reporting" what has not yet happened; December is only a little past half over.
They'll spin it somehow that it's Obama's fault.
Or Bill Clinton's fault. lol
Don't forget Hillary. lol
Some of the conservatives on this site have nothing to say and have no real argument to defend Trump, so they accuse us of gloating when something goes wrong.
Yeah, a bit, but I still think Trump is a crook and an idiot.
And you would be right.
Might as well. They aren't thinking rationally, no one wants to see the stock market tank, NO ONE. That will affect all of us.
That he did.
stock market is up and down all the time - what depression are you thinking of?
This is on pace to be the worst December since the mid 30s
It's kinda like that global warming thing..
no one told you all about gold and silver
I wish I had some.. i'm still waiting on copper to go up haha
Hope it's not copper wire and pipes.
Except when the market was going up, Trump was all over the place taking credit for it. Seems he should also be willing to accept the blame when it goes down.
Isn't that kind of insulting to 4th graders?
Judged to soon