The Stock Market

This is the first administration that deliberately decided to destroy the nation. I don't think they anticipated everything that has happened, however. They hoped shutting down the energy industry and opening the border would be partially compensated by the wonder of the viewpoint. That is perhaps why the have so openly weaponized the DOJ. They cannot defend what has happened as a result of their policies, and it is only getting worse as time passes. They believed they would be able to trumpet how many jobs were created and how they got out of Afghanistan, and how solar energy was going to save the world. They didn't factor in the popularity of Trump after he was out of office, and that is perhaps why they attacked him and started the January 6 nonsense. If you follow what the 20 or so whistleblowers have said, the FBI is pulling agents away from child trafficking, espionage, organized crime, and other serious issues to investigate Jan 6 because all the liberal extremists in the country see it as a way to persecute anyone they know who is conservative or who support Mr. Trump. One commentator said we can be thankful that Biden's original "Build Back Better" proposal didn't pass, as that would have made it so much worse. And can you imagine how bad it would have been to have the malicious individual who is the current AG as a Supreme Court Justice??? The collective debt of the West will sink us all.

 

I understand California is now pushing composting human remains as being more friendly to the environment to than cremation. I think, however, that when we were buried directly in the ground, that was essentially what happened.
I certainly wish you well @Hedi Mitchell and don't exit the planet too soon!

 

In the 70's there was double digit interest payments on savinigs, not inflation. Over time they went to zero, herding us into the stock market as the only place to make some money. I hated that feeling and avoided the pressure somewhat. The crashing of the stock market is more of the way the middle class will be destroyed. The number of seniors with enough to retire on is quite low. You can just imagine how they will end up.

 

The Biden Administration has said that they don't look at thee stock market when making policy. I think they believe that only the rich have investments. They are that out of touch. Now the Treasury Secretary has announced that they are looking at creating a digital currency "that won't be neutral". One economist said that this means they will be able to make you spend your money if they want that or refuse to allow you to spend you money if that meets their needs. It would permit them to "expire" your money, i.e., take money away from you. Purchase restrictions would also be included to allow them to restrict spending on guns, ammo, or meat, as well as other things they deem inappropriate. The whole thing is apparently laid out in a plan from the WEF in Davos, Switzerland to help "Climate Change".

 

Hi Don. Today's close on the SP500 was 3,588, which looks like a new low for the year. In fact, it looks like we are testing the previous support level. If the market can hold at this level and we also get a huge red wave in the midterm elections, then maybe the market can consolidate at this level. Otherwise, my best guess is "Watch out below." Do you have any opinion on what is likely to happen between now and the midterm elections? And after the midterm elections?

 

My only opinion is based on what I have read. With energy prices rising, total disregard for the market from the Administration, and with Europe's economy collapsing, I can't see a bright side. Congress can only do so much as far as monetary and fiscal policy goes. That is largely the responsibility of the Executive Branch, and with those currently in charge chosen based on race, gender, or orientation rather than competency, I can't see a positive side to it all. Retirees will be particularly impacted due to the reliance of many on the 401s and IRAs.

 

Don, thanks for your input. I agree that the economic fundamentals are lousy. Small wonder that the SP500 is down about 25% on the year. It will take some time to work through the mess that the Biden bunch has created. Maybe the upcoming midterm elections will create enough hope to stabilize the market.

 

I don't know anything about the stock market. I did try to buy a little silver but the man told me he wasn't going to drag out $5000 worth of dimes, lol. Of course, we haven't had that much cash to play with in a long time.

 

Buy at one of the metal websites if you want precious metals, @Marie Mallery . You will probably get a better deal there unless you are buying from an estate.

 

This was years ago, and I heard silver was going to have better return than gold. Wonder which bandits took off with Fort Knox?

 

No one knows if there is ANY gold in Fort Knox. It may be a sham to make the U.S. look better. Both China and Russia have more gold than we do and are trying to get a gold-based currency to replace the dollar in international trade. Biden is helping in that endeavor.

 

I thought I heard it was

Wonder who is guarding it and by whos orders?


https://www.bing.com/ck/a?!&&p=9b13...W50LXRvdXJzLWZhY2lsaXRpZXMvZm9ydC1rbm94&ntb=1

ort Knox Facts

• Amount of present gold holdings: 147.3 million ounces. About half of the Treasury’s stored gold (as well as valuables of other federal agencies) is kept at Fort Knox.
• Highest historic gold holdings: 649.6 million ounces (December 31, 1941).
• The only gold removed has been very small quantities used to test the purity of gold during regularly scheduled audits. Except for these samples, no gold has been transferred to or from the Depository for many years.
• The gold is held as an asset of the United States at book value of $42.22 per ounce.
• Size of a standard gold bar: 7 inches x 3 and 5/8 inches x 1 and 3/4 inches.

 

But many people don't believe it is there. I don't believe they permit independent audits, but China is rumored to have accumulated 60,00 tons of the stuff or some ridiculous number.