02-28-2020, 06:57 PM
(02-28-2020, 02:22 PM)sbarrera Wrote: I'm not surprised to see this thread spring back to life! Oh, my 401K is in so much pain right now!
At least I'm an Xer who knows how to always have fun.
My sympathy on your 401K. As thrilling as a ride one would have on a kayak headed toward the escarpment -- and where a river meets an escarpment is a waterfall -- I might have been tempted to sell out -- or go to bonds -- as the stock market valuation became absurd.
Five bad days in succession for the Dow do not make the start of a recession, but as I have noticed... high stock market prices and high P-E ratios come to a precipitous end (the waterfall) when people run out of funds with which to invest. Then people want to sell, but there are no buyers.
The valuation of labor either fell or failed to keep pace with productivity, and economic inequality intensified. Eventually people go into debt to keep up appearances and stay in the game of life -- or give up. What choices do most people have?
The ideal subject of totalitarian rule is not the convinced Nazi or the dedicated Communist but instead the people for whom the distinction between fact and fiction, true and false, no longer exists -- Hannah Arendt.