Economy

El Capitan

El Capitan

Well-Known Member
Jul 9, 2014
3,828
Chicago IL./Vero Beach, Fl
Boat Info
1970 SRV 180 w 2.5L Mercruiser.
2000 Ford Expedition Eddie Bauer
Engines
120HP Mercruiser
Stock market plunged today, I'm afraid to look at my 401k. Inflation up, all prices up, and now many believe the 75 basis points the Fed was hinting about is up to a full 100 basis points.

It will be interesting to see how the cost of funds impacts demand. We may very well be looking at deflation next year.

If you're thinking of selling sell it now.
 
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Nope, not selling. Ever. Boated thru Reagan, Bush1, Clinton, Bush2, Obama, Trump.
You know what they all had in common? I was boating. And I will be floating thru Harris or DeSantis or any other fool, cause if you let some jackass sitting in the Oval Office decide your lifestyle well I feel for sorry you.
Stop watching the ‘news’ and live your life.
 
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Pirate Lady said:
View attachment 133735
Nope, not selling. Ever. Boated thru Reagan, Bush1, Clinton, Bush2, Obama, Trump.
You know what they all had in common? I was boating. And I will be floating thru Harris or DeSantis or any other fool, cause if you let some jackass sitting in the Oval Office decide your lifestyle well I feel for sorry you.
Stop watching the ‘news’ and live your life.
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Well Alice, the context of my comment was aimed at those contemplating selling to begin with. :rolleyes:
 
I might be looking to buy in the next year or two.

What my real concern is regarding the economic games is the impact on those who are currently struggling. Elderly on fixed incomes, 18-26 year olds, children of single mothers, these groups are always disproportionately affected by economic downturn and they suffer.

Many will say that they did not prepare or it is just their bad luck but that is not morally justified. Those who make policy with a “fuckem” attitude are the same ones who demand “a level playing field”. The globalist mentality is based in evil doctrine and is a mental illness at best.
 
Wait till companies start the blood letting. My money is on a hard landing deflationary period especially with the noises the Fed is making of a 1 point increase followed by another .5-.75% increase EOY. That will put an end to inflation for sure but its gonna leave a mark.
 
El Capitan said:
Wait till companies start the blood letting. My money is on a hard landing deflationary period especially with the noises the Fed is making of a 1 point increase followed by another .5-.75% increase EOY. That will put an end to inflation for sure but its gonna leave a mark.
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The Fed is so far away from having any effect, especially with the asshats in DC spending like druken sailors. Me thinks interest rates will have to rise above the inflation rate to have any effect. We have seen this movie before.
 
Golfman25 said:
The Fed is so far away from having any effect, especially with the asshats in DC spending like druken sailors. Me thinks interest rates will have to rise above the inflation rate to have any effect. We have seen this movie before.
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I agree. And when Joebama has to stop the releases from the strategic petroleum reserve gas is going to skyrocket again, just making inflation that much worse. And we haven't really seen the full effect of the war in Ukraine on food prices. It's gonna get ugly.
 
Ran into a guy at one of our "dock parties", and I asked what he did for a living. He said that he worked for a towing company and that they had repossessed 300 cars the previous week(August 29 - September 2). He also said that when repos shoot up, things are fixing to get bad.
 
Windjammer said:
Ran into a guy at one of our "dock parties", and I asked what he did for a living. He said that he worked for a towing company and that they had repossessed 300 cars the previous week(August 29 - September 2). He also said that when repos shoot up, things are fixing to get bad.
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October is the month the stuff will start to hit the fan. My project sales for that month are softening pretty good. My indicator has never been wrong.
 
As many here know I day trade options and futures. Today was the worst day since June 2020. I think it will only get worse with DC spending like it grows on trees.
Healthcare will suffer too. Premiums are through the roof and that will be one of the first things many people stop paying. 25% of my paycheck is healthcare premiums
 
There were a lot of people hoarding food, and building underground survival chambers many times going back a century…..civilization has weathered them all. We all will wether this one, too. Good planning certainly helps the ‘weathering’ be less severe. So….. I’m with @Pirate Lady, keep your head down, keep boating, and be thankful we can. That said, Good Planning would certainly agree with @El Capitan, if you’re considering selling, sooner is better than later, IMHO!
 
boatman37 said:
As many here know I day trade options and futures. Today was the worst day since June 2020. I think it will only get worse with DC spending like it grows on trees.
Healthcare will suffer too. Premiums are through the roof and that will be one of the first things many people stop paying. 25% of my paycheck is healthcare premiums
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Joe said he is going to lower healthcare cost and prescription drug costs, so it must be true. That's what the "Inflation Reduction Act" was for. Plus he said inflation is down and had James Taylor sing in celebration, so that must be true. Plus the White House flack says the boarder was broken under Trump but Biden and Myorkus have fixed it and it is secure. All you have to look at is all the fentanyl seizures and the apprehension numbers to know it's true. So everything is great! Hope Joe runs in 2024, everything is much better than under MAGA. Thank God.
 
Golfman25 said:
The Fed is so far away from having any effect, especially with the asshats in DC spending like druken sailors. Me thinks interest rates will have to rise above the inflation rate to have any effect. We have seen this movie before.
Click to expand...

Fixed rate on a mortgage is now 6% and the Fed is hiking a 100 basis points soon. Inflation is 8.3%. Not bad enough yet?
 
Stee6043 said:
Your 401k has been suffering long before this week :) Dow down 5300pts YTD.

Just another cycle. We're buying stock cheap now, fellas. :)
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Yup. My wife was worrying about our 401k's and I told her keep pouring money. We're buying stocks cheap now. In 10 years my bet is the value will be far higher by simple appreciation.
 
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