Can you believe this shit? WTF happened to our country? No Sports anywhere, leagues closed, players sent home. Obviously, health is more important than sports but the few people who read this know what I mean.
Hysteria is rampant, rumors are the new source of info, Fuck Facebook, Fuck Trump and his incompetent administration, not preparing when the virus hit WuHan. All the trillions of dollars lost because of automated algorithms, sending sell signals when there was really no justification.
And don’t forget the phrase of the century, “Stay the Course” when referring to people’s investments. I personally lost about 80K because of bad advice from my own investment guy. He condescendingly told me that markets have cycles, in the long run you’ll be OK. I listened to him once a couple weeks ago and then when the shit really hit the fan, I did NOT listen to him.
I told him, get me the f out of the market, stat. He told me I had a certain amount, when the dust cleared I had $17 K less. He did, but not before getting out cost me a whole lotta cheddah. Great companies decimated because of an eerily human panicked algorithmic response to investor hysteria. Is that the wave of the future? If thats Artificial Intelligence then I want no part of it.
What can you do? Be smart for one thing, while investing your hard earned money, ask yourself if you can afford to lose money. If the answer is no, DON’T put it in the market. If it sounds too good to be true then it probably is. Wouldn’t you rather have what you started with than the promise of a gain when you could lose it all?
Economic prosperity has a cycle and we stretched out our cycle long past its end because of a false confidence gained through a political administration that took away all the checks and balances put in place in 2008 to specifically avoid what is happenig right now. Yes I blame fuck face the Orange Maggot, Mr Bankruptcy himself, Donald Trump.
Why is the Federal Reserve having to inject capital into the markets to protect liquidity? Because they are foreseeing 1929 all over again. Smaller banks are leveraged to the hilt, corporations gorged on a plentiful, cheap credit supply and now the bill is coming due. Combined with a corporate tax cut that allows companies to pay almost nothing, while the American middle class foots the bill, we are kinda fucked.
Lowering the interest rate to 0% for interbank lending is the sign of a desperate measure, the Secretary of the Treasury better be right. The hysterical bleating of the news broadcasts, with their properly pinched and concerned faces disgusts me. I can’t watch it, it only fuels fear and causes more damage to people’s confidence.
It’s a rigged system, and we really find out in a crisis who has feet of clay and who knows WTF they are talking about. So turn off your TV, go outside and think about what YOU’RE gonna do. Talk to people, share ideas instead of fear. Because whatever the govt does, its guaranteed to not be enough, you are on your own.