Coronavirus SZN Forever

[MBGreen]

What do you think happened with a lot of people’s 401k’s? Retirement? Market has lost a third of its value in three weeks

My toilet paper stash > your 401k

[Johnny English]

Your strategy the other day was ignore it and it goes away. Now you want to play God?

You've done nothing but create strawmen today, would you like to link me to where I said that please?

The car dilemma is a long standing tool in ethics education. When you've finished reading social contract theory maybe move on to some wider sociology concepts, they're surprisingly interesting and important.

[Pope]

That only matters if you are near retirement, and if you are you shouldn't be anywhere near 100% invested in equities. Everyone else has plenty of time to recover and an excellent opportunity to buy low along the way.

Yeah I stand to become quite wealthy because of all this in a decades time but my worry is the reactionary issues from the market crashing. We’re seeing panic buying and bank runs already, with the world shutting down I’m led to believe we’re not even close to turning the corner on this

[Johnny English]

What do you think happened with a lot of people’s 401k’s? Retirement? Market has lost a third of its value in three weeks

Sure, but two thirds of something is still something. People are literally going from a wage to no wage now, and that's a much bigger deal. Markets will recover, people out of work and shortly after out of a home will not.

[Pope]

Sure, but two thirds of something is still something. People are literally going from a wage to no wage now, and that's a much bigger deal. Markets will recover, people out of work and shortly after out of a home will not.

Sorry that was implied on my part. We’re in complete agreement there.

I’m out here busting my derriere 14 to 16 hrs a day giving people work from home capability to keep their freaking livelihoods and business intact and I’m getting lectured by people laying on their couch binging the office about how it’s not safe to be outside

[Johnny English]

Sorry that was implied on my part. We’re in complete agreement there.

I’m out here busting my derriere 14 to 16 hrs a day giving people work from home capability to keep their freaking livelihoods and business intact and I’m getting lectured by people laying on their couch binging the office about how it’s not safe to be outside

It took the flu for you and me to find a meeting of minds.

[SixFeetDeep]

Yeah I stand to become quite wealthy because of all this in a decades time but my worry is the reactionary issues from the market crashing. We’re seeing panic buying and bank runs already, with the world shutting down I’m led to believe we’re not even close to turning the corner on this

Lol you are a scumbag

Keep telling people you vote Democrat though so you can maintain your moral superiority over them

[Pope]

Lol you are a scumbag

Keep telling people you vote Democrat though so you can maintain your moral superiority over them

You guys have this narrative of me being a massive Republican while I’ve never voted republican in my life. Last three presidential votes were Jill Stein and Obama x2. Local and state government I generally go Democratic. I understand my off color remarks make me out to be an poopchute but anyone that knows me will vouch for me.

[dcm1602]

Sure, but two thirds of something is still something. People are literally going from a wage to no wage now, and that's a much bigger deal. Markets will recover, people out of work and shortly after out of a home will not.

Depends on context

If someone's been working for 20 30 40 years and they lose a 3rd or those savings

That's a much greater loss to recover from than someone losing their job as a bus boy for 3 months and is now getting government assistance

Yeah the job loss is more acutely serious, but it's also much easier/faster to recover from than a 3rd of your life's savings
Sure the market will recover but if you're 50 60 70 or 80 you're depending on that money.

[bojanglesman]

Depends on context

If someone's been working for 20 30 40 years and they lose a 3rd or those savings

That's a much greater loss to recover from than someone losing their job as a bus boy for 3 months and is now getting government assistance

Yeah the job loss is more acutely serious, but it's also much easier/faster to recover from than a 3rd of your life's savings
Sure the market will recover but if you're 50 60 70 or 80 you're depending on that money.

Again, why would a person near retirement be 100% invested in stocks? excrement like this is a prime example of why an older person shouldn't be.

If you've been working 20 years, you are in your 40s and still have plenty of time to recover.

[dcm1602]

Again, why would a person near retirement be 100% invested in stocks?

Because like 95% of Americans they never saved enoguh and are trying to catch up? Or it's better than the alternative of them being highly invested in predatory whole life insurance policies annuities etc

(that said you're completely right)

[Johnny English]

Depends on context

If someone's been working for 20 30 40 years and they lose a 3rd or those savings

That's a much greater loss to recover from than someone losing their job as a bus boy for 3 months and is now getting government assistance

Yeah the job loss is more acutely serious, but it's also much easier/faster to recover from than a 3rd of your life's savings
Sure the market will recover but if you're 50 60 70 or 80 you're depending on that money.

Sure. I would refer you back to my point about societal issues - there are much bigger and more long term problems to address post this situation than just "the stock market took a poop and now I have to spend my retirement living on beans in a trailer". Like, for example, why is the quality of someone's retirement predicated upon the equation of

return = value + greed - fear

as determined by a bunch of self-centred millionaires and billionaires? But that is a conversation for the near future. The now conversation is about how we find the balance between old and immunocompromised people dying, and people of working age having their lives literally destroyed because we created and supported a society in which a terrifying large amount of our members live a hand to mouth existence that is one unexpected crisis away from being unsupportable. We did this and we were OK with it, and if we don't now feel utterly freaking ashamed and motivated to fix it then I don't know what to tell you.

[dcm1602]

Sure. I would refer you back to my point about societal issues - there are much bigger and more long term problems to address post this situation than just "the stock market took a poop and now I have to spend my retirement living on beans in a trailer". Like, for example, why is the quality of someone's retirement predicated upon the equation of

return = value + greed - fear

as determined by a bunch of self-centred millionaires and billionaires? But that is a conversation for the near future. The now conversation is about how we find the balance between old and immunocompromised people dying, and people of working age having their lives literally destroyed because we created and supported a society in which a terrifying large amount of our members live a hand to mouth existence that is one unexpected crisis away from being unsupportable. We did this and we were OK with it, and if we don't now feel utterly freaking ashamed and motivated to fix it then I don't know what to tell you.

Living hand to mouth isn't the issue here

Every country who is experiencing a major outbreak is being devastated by this. Both medically and economically. This isn't uniquely harming the USA because of economic inequality. Socialist, communist countries are all getting wrecked. Solving global inequality and creating a utopia isn't happening in our lifetimes

[Johnny English]

Living hand to mouth isn't the issue here

Every country who is experiencing a major outbreak is being devastated by this. Both medically and economically. This isn't uniquely harming the USA because of economic inequality. Socialist, communist countries are all getting wrecked. Solving global inequality and creating a utopia isn't happening in our lifetimes

Congratulations on both getting the point of my post and also completely missing it.

Go answer my question in the LOL NFL thread, you might actually be useful there.

[dcm1602]

The retirement thing is complicated though. Some of it is ignorance (people knowing nothing about the stock market and refusing to touch it) other is laziness.

I know countless people my age who make 70-110k a year, and haven't put a freaking dime away for retirement. Yet have 10s of thousands in credit card debt. I don't know how that's possible, but at least the people I know making that isn't because of life hardships. It's because they're freaking idiots.

I've become much more ammendable to the government lending its teet to the ordinary people in my older age. But I'm also a staunch believer that the majority of time people are their own biggest obstacle in life