I was not one of them. I got furloughed then laid off. IT Director of a Fortune 500 company. I was fortunate enough to have a sizable nest egg saved up. Back in school now for degree completion. Will be applying to Texas A&M MBA program in Sept (fingers crossed).aggiedaniel06 said:DisAg said:More than that.Seven Costanza said:wangus12 said:
Man I wish I had the balls to put more money into the market right now, but I told myself to learn and grow with a small amount first.
I know absolutely nothing, but when you see every novice on the street throwing crazy money into the market and the justification is that it's a new paradigm (which seemingly makes sense given the printing and low interest rates), you have to worry that the bubble is about to pop.
So much free money flooding the public (see pumped up unemployment, and checks from government)
Wall St. vs Main St. doesn't match up.
First-time filers for unemployment was still above 700k+, Pandemic Assitance filers were about 300k+. Last month's first-time unemployment filers numbers were adjusted because it was underreported.
Yet through all this, people are still buying cars, houses etc because of low-interest rates. I mean this has been going on for awhile now since the pandemic. It feels like the US is turning into China, in that if the economy is slow, just pump money out into the public, damn the debt.
I am no economist, but I keep waiting for the other shoe to drop, even before I started getting interested in what you guys were doing over here.
Unemployment is a tricky metric and can be sometimes misleading. The majority of the job losses caused by the pandemic were to individuals that don't participate in the stock market actively or through retirement plans and aren't homeowners.
On the other hand most people that hold the type of jobs that pay 401ks, were able to hold onto their jobs and the monetary stimulus was extremely beneficial to the asset prices they own and to their ability to purchase more assets (home buying that you're referring to).
I dont know where you are getting your numbers from, but I think people who had salaried/401k type jobs, and subsequently lost them due to the pandemic is larger than you may think.
Either way, the point being is the government is shooting money to the public like a Gatling gun. I mean, I guess we could just keep it up forever, its what China does, why not us? Just makes me nervous is all.
