How Bout' That Dow? Below 8k!

Holy crap. How low can it go?

 

You'd think the new administration would bring a bump? I thought so, at least...

 

Well, historically markets get "spooked" when a new President takes office. But below 8k is insane. That's around 50% off what it was a year or so ago. I'm sort of glad that I'm old-fashioned ans save mostly cash. I know others who have lost 40%+ of their retirement.

 

The new President plans on taxing corporate profits back to the levels of the Clinton years. Whether you agree with that or not, one thing is for sure, Wall Street does not.

 

yay moar shitty economy!....

 

If you've been holding on to cash you're doing much better than the market over the last year.... but if you don't put money into the market while it's down like this you're going to miss out on one hell of a comeback. It might take a year, might take 10, but I'm willing to bet (and am betting with my own money) that in 10 years you'll be much better off having put money into the market now as opposed to hoarding cash.

 

Agreed, and I do have some investment in mutual funds and my 401k. But my Wife and I have been saving for years so that we can buy a house for cash once the housing market bottoms out. That way we'll have no debt and then put whatever is leftover into the market. But as of now, I see little reason to put loads of money into stocks. I'm a pretty old-school guy when it comes to financial stuff.

 

Good luck to you w/ the house. That's a great idea. It'd be wonderful not to have a house payment. For now I have to settle for looking forward to lowering my payment next month by re-financing to 4.375%.

 

At least you're in Alabama where it ain't so expensive. Out here in Cali, houses cost a fortune. We were priced out during the boom. 600k for a starter home! I'm from TN originally, so prices like these are insane. If my parents sold everything they owned, they'd have maybe enough to put a down payment on something out here.

 

Why? Maxists are counter to a free market philosophy.

 

Yes sir, you are correct. No question about it.

 

I just thought I remembered new administrations (regardless of their political leanings) brought a little positive market movement.

I agree, though... logically, an administration that wants to increase taxes on both businesses and capital gains shouldn't give the market any reason at all to move up.