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Despite all the myths Democrats are better for the economy. They always produce better numbers.
This is going to be a hard one to explain to the MAGA fans
Damnit, I came here to blame Joe Biden, but it seems like everyone else beat me to it. Oh well, time to go tariff some more countries and then act shocked by the results…
How dare Biden tank the economy while trump is president just to make him look bad! Any day now, all these incomprehensible tariff ramblings, threats, and further ostracization of our allies are going to make America so great! /s
Maybe Trump just didn’t know how to spell and he just meant “Make America grate again” because it certainly does something like that to most people’s nerves at the moment.
slams fist on desk
Biden!
more like lol street amirite
I can’t. Is this mental difficulties or that thing journalists do where they have to act like they were literally just born and don’t know anything about the world? I don’t know the dude in OP.
Wait, are you not aware of sarcasm?
Honest to god, I really just missed it. Reading it now it’s so blatantly sarcasm, I’m going to just have to blame it on a combination of lack of sleep and my being a dumbass.
Pretty ironic for someone with the handle, JokeDeity.
Tbh Wall Street can fuckin off. They helped create this mess. If this ship is going down, let’s make sure none of the assholes find a seat on a life boat.
You think they aren’t already profiting off of the downturn?
All of everyone’s retirement accounts are invested in the market. So it’s not just those assholes who get fucked by this.
Maybe it will force Americans to do something against that? If no one has any retirement, there’s bound to be a lot of public outcry. There’s nothing to lose if you have nothing.
All of everyone’s retirement accounts are invested in the market.
Americans not willing to recognize that Social Security exists is such a fucking capitalist vibe
Social security is not enough to live off of. Is projected to be unobtainable for future generations who are paying into it, and is currently on the chopping block
Social security is not enough to live off of.
Nevertheless, it is 40% of retirement income. And none of it comes from the stock market.
projected to be unobtainable for future generations
Projected by advocacy groups trying to abolish social security.
You are being untruthful and dismissive: https://www.ssa.gov/oact/tr/2024/tr2024.pdf Page 9 is the jist.
They are going to have to change something either raise the retirement age or lower the payments both which make it more unobtainable then it already is. And that 40% is based what people make… in a time of rising inflation and stagnant wages…
The fact that social security is not tied to the market is super irrelevant, when the argument was that the 401k is in danger, when social security already is not enough to live on. so it’s important that people have a successful 401k to supplement it.
The real solution is making the average wage go up. Significantly. Which puts more money into the program overall.
With so much money having been shifted away from the average worker and Into the pockets of people who hit the FICA cap in their first paycheck of the year, over the last few decades, it was bound to have issues.
I agree with that, or a ubi, or taxing the rich. All that jazz
They are going to have to change something either raise the retirement age or lower the payments
Or just pay directly out of the general fund, which they can do with a simple vote in Congress and which they already do for Medicare/caid.
The fact that social security is not tied to the market is super irrelevant
It is the primary argument both for and against the program. Investors kick and scream about the benefits of compound interest, right up until a big market nosedive and bankruptcy spree. Meanwhile, it’s the benchmark for guaranteed basic income that progressives love to reference.
Decoupling income from economic growth isn’t irrelevant. It’s the program’s entire raison d’etre.
You would have the tax payers pay even more of the burden now, with out the benefit of even having it contribute to their social security… to pay the gap in social security, damning the tax payers twice. That’s not a permanent solution on top of that! I’m not saying social security should be attached to the market. I mean we are talking about the market fall after all! I am saying that being flippant that everyone Just needs to remember they have social security is dismissive and not relevant.
In fact, those assholes will be fine. WE won’t.
Lucky me, I don’t have any retirement investments!
How much of retirement accounts represent in % for the overall stock market?
Not much, but the peecent of people who have their money in stocks for retirement is high.
I switched to cash last week.
Oh you can be sure Congress will be working overtime to pass a bill with relief to those big businesses that cannot fail.
Maybe they should try more tariffs. More tariffs will fix it definitely.
We just need to hawk more $100k Teslas from the White House. …what a fucking embarrassment.
Yo dawg, I heard you like tarrifs…
Too much trade between the states. We need to rip up the Interstate Commerce Clause
Side note, why do people seem to struggle so much with the spelling of the word “tariff”? We’ve seen it so many times yet so many people get it wrong.
Not really a side note, this is just the tip of the “American stupidity and overconfidence that got us here” iceberg.
Any Americans tired of winning yet?
I am so tired of winning, I’d love alternatives.
Denmark, if you’re listening… I have an idea.
I can’t handle being any greater.
So very much
Here in the US, I transfered most of my 403(b) investments into European, Asian, and “emerging market” funds, so I’m happy to be doing my part.
Fuck, that’s a good idea.
Thank you.
any guidance or resources for an idiot who would like to explore that?
If you have a 401(k) or 403(b) through your employer, your employer should be partnered with an investment firm to manage it (e.g. T Rowe Price, Prudential, or Transamerica). You need to figure out which company you’ve got and log in to your account. Ask your HR dept if you can’t figure it out.
That firm will automatically choose where to invest your money unless you log in to your account on their website and tell them where you want it invested.
Most investment firms will offer a limited selection of mutual funds with a variety of objectives. They usually link to each prospectus right there on the site, and the prospectus often has a pie chart telling you where a fund’s investments are located (US, Europe, Asia, etc). It will also list their performance over time, expense ratios, and other useful info, like whether they invest in large vs small cap businesses and their largest individual holdings.
You want to change both where your current investments are allocated and where your future contributions will be allocated.
You also want to try to find funds with low expense ratios (I try to stay below 0.10% unless it’s a fund I really like and am willing to make an exception for). Anything titled “index fund” is likely to be low. Your money is almost guaranteed to be automatically invested in funds with high expense ratios, cutting into your long-term growth, because the investment firm makes big bucks giving your money to people who aren’t wise with it.
If you want to get serious, you can even set up a personal choice account where you can totally independently decide where to invest your money, even in individual stocks. This comes with significant risk and is not a great idea for laypeople like you or I.
What’s interesting to me is that the “shape” of the line still matches the global line pretty well so there are some “fundamental” aspects that still affect markets, but overall we’re in a nosedive for “some reason.”
Don’t worry, the rest of the world will get pulled down when we really nose dive… hooray contagion.
Yes, the global casino of interdependent pyramid schemes is extremely fragile.
Don’t worry though. Capital will print as much money, build as many prisons, and blow up as many brown people as it takes to maintain hegemony.
I agree, but I don’t think it will be as bad as the last few times for anyone but the US. Trump has managed to piss off literally the biggest trade partners the US has, so they will happily just invest elsewhere and leave the US economy in the dust instead of trying to survive the crash together.
I also agree with you here.
We’ll pull the world down… but we will do significantly worse ourselves.
I’m feeling pretty smug lately having always avoided the stock market so my money has been the same this whole time
Maybe should convert some of those dollars to Euros tho just in case
lol it’s not going to zero. It will rebound sooner or later. Just another cycle.
Lol just wait until the reports come out about the inflation rate since Trump took office.
Yeah but I still didn’t burn my money in stocks
Buy the dip.
This is financial advice.
Note the vertical axis does not start at 0.
It’s starting at a reasonable point for the data shown, I’m not sure what your point is. Do you think this graph would be more readable if you had 80% of the vertical axis as wasted space so the graph could show nothing from 0 to 95?
I don’t care too much for my personal view because I think I can read the chart well. I met several people in my life that would misunderstand a chart if it would not show the axis starting at 0. I don’t consider the space a waste. I consider it an indication that the shown value is less of an effect than it would indicate if the chart is zoomed in.
To be completely honest, I just wanted to test that commenting on a thread on other lemmy instance from my new lemmy instance works.
To be completely honest, I just wanted to test that commenting on a thread on other lemmy instance from my new lemmy instance works.
LOL. Support. Good luck with your instance.
And?
And nothing, sorry if i implied anything. I just wanted to point it out. I appologise. This was my first comment on lemmy.
No need to apologise, mate, all good. 👍
I was wondering what point you were trying to make.
I don’t think this was done deceptively. Most financial graphs like this don’t start at 0.
It appears to be representing percent change from the close of the preceding period, so 100% isn’t a totally unjustifiable axis.
Yeah, I am probably just overthinking it, sorry. I would show percentage change as +10, 0, -10
