Replies

JasonC, it’s a free country and you can spew your baloney anytime.

However, it’s not only me who has experienced a 40% drop in their 401K.

But you say, nah, that’s not real money. Guess you didn’t plan to retire soon.

Put your head back in the sand.

When inflation wipes out what is left of even pre-peak pricing, we’ll see who’s crying then.

And no, a $ 14.3 TRILLION dollar economy cannot absorb $ 5 TRILLION in deficit spending in the span of 12 months.

.....it’s not only me who has experienced a 40% drop in their 401K.....

Did you sell out? If so you lost wealth.

If you still hold the assets, you did not. The wealth true value will not be known till you actually sell.

I have a 401k. I have bonds in it as well as stock. I add new savings to in regularly. I had some losses last fall, but nothing like the headline figure or yours, because of those two things. In fact my balance as of Jan 1 was about the same as a year before - the new additions and dollar cost averaging about covered the drop. I also bought a house, for half its peak price. And I am earning high rates on my savings today, than a year ago. In fact, investment was considerably harder and objectively more dangerous a year ago, than today. As for inflation, it is a deflation not an inflation. But if one happens along, my house will do fine, the mortgage on it being in nominal dollars, at a record low interest rate. See above in re deflation for why. In case everyone just forgot, an epic number of people betting on inflation by carrying real assets with nominal debt, and being completely wrong is the underlying cause of the present mess.

And I'm not going to be crying about any of it, whatever the sequel. My house will continue to provide me shelter. My job will continue to provide me income. My habit of saving a solid portion of my income will get a better than average price for all the assets I ever by, and I'll accumulate more of them, not less, if the path getting there is rockier or lower. Not to mention the fact that natural beauty around me, friendship, intellectual interests, etc have more to do with my happiness than any of the above.

Sound principle trump fear mongering panic every day of the week and twice on Sundays. Sell your doom to some depressed liberal deadbeat who cares.