Percentage-wise a 200 point swing on a 11,000+ Dow isn't earth-shattering, but it still represents real dollars in my 401k (and yours!). Yesterday's drop received so-so coverage.
They say a Recession is when your neighbor loses their job, a depression is when you do. Well, I am not there, but a lot of my neighbors are worried. It was bad enough when everything was melting down, but now inflation is hitting at the same time; a big reason - $5 gas (coming soon!). As energy touches everything, it raises every ship in the harbor.
Heck, the interest rate cuts aren't even helping as promised, since credit markets are getting tighter. At least we could of had a refinance (I was hoping for one!) to dump some $$$ into the mean green machine.
So, how do we get off this Tilt-a-Whirl o' Doom....Eventually the Fed will have to tighten the money supply at some point. Which means it would get worse before it gets better. Not trying to be the Siren of Death, but it is one set of body blows after the next...gee I hope one of the political parties raises my taxes next :)
Then again, maybe I just shouldn't post after I pay bills :)-
3 Comments:
I would suggest a longer term view. These day to day fluctuations don't mean much. Why even look at the dollars in your 401(k) on a daily basis? Are you retiring this year?
I think you need to unlpug from the news for a while. It will all still be there when you come back. :)
Yes, I was going to retire today..if the Dow hit 35,000. Sure it would take a big swing, but I was really looking forwad to it! :)
Of cource you are right about a longer term view. The point tof the piece wasn't really about that though. It was really that we are it turbulent times and even a 200-pt swing gets a yawn right now. Just a few years ago everyone would have been fixated on that sort of turn.
We have really come to expect this big up/down swings now. And some, probably even enjoy it!
Thanks for visiting
Great read thankyou
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