It does not have to reset to the historical average for another large round of losses to hit your retirement funds. This is why determining the difference between normal pullbacks and larger corrections and bear markets is critical.
A mental exercise of where the market and our funds are today.
China’s National Team stepped in overnight to buy their stock market. Global markets bounced overnight. The central banks are getting nervous again.
Social Security is a transfer tax from the current generation to the retired generation. It is a generational tax, not an investment account, so the rich in our generation should NOT get off the hook…
Gamestop is blowback to wall street. Wall Street wants protection. Two minutes of truth.
Millennials own less than 5% of all US wealth today compared to baby boomers at the same age who owned 21%. The economy and financial system have been rigged against them.
Pardoned General Flynn calls for martial law to overthrow Congress and the Courts and Trump holds a press conference saying he is going to do something to defend the election system…great, just great.
Meaning even if Americans were to take this seriously today, the US daily death rate will STILL probably exceed 3,000 daily in weeks.
The bottom line: It sucks.
“And we can reorient our economy from wealth to work. To do all of that, we have to take on Wall Street power.