General Discussion

reformist2

(9,841 posts) Thu Dec 20, 2012, 11:43 AM Dec 2012

Be prepared for Wall Street to try to scare us with a 1,000 point drop if we don't fall in line.

Don't fall for their last shock-and-panic tactic.

And always keep this in mind: For the vast majority of us, our SS retirement benefits are far more important than our 401K accounts, if we even have them.

10 replies

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Be prepared for Wall Street to try to scare us with a 1,000 point drop if we don't fall in line. (Original Post) reformist2 Dec 2012 OP

If you believe that, shift a large % of your 401k to a money market fund now. JoePhilly Dec 2012 #1

No fear here. Investing in climate change deniers, corporate prisons, slave labor and Citzens United raouldukelives Dec 2012 #2

Me neither. I just want people to stay strong, and be aware of the games Wall Street plays. reformist2 Dec 2012 #3

Let it fall. I'd rather trust in the Doug Jones than the Dow Jones. ck4829 Dec 2012 #4

Wall St. is all funny money, the numbers don't mean much. Odin2005 Dec 2012 #5

"Wall Street" the NYSE, was just sold to speculators just1voice Dec 2012 #6

Now that Boehner has failed, I think we're on for the "big drop". reformist2 Dec 2012 #7

It would certainly reveal who pulls the puppet strings, wouldn't it. Fire Walk With Me Dec 2012 #8

And we're set to open DOWN 212 points tomorrow... reformist2 Dec 2012 #9

F*ck those 1% assholes - bring in the guillotines!! randomelement Dec 2012 #10

JoePhilly

(27,787 posts)

1. If you believe that, shift a large % of your 401k to a money market fund now.

Reply to reformist2 (Original post)

Thu Dec 20, 2012, 11:50 AM

Dec 2012

Most 401k programs have those or something else similar to cash.

Then, wait for the 1000 or so point drop to level off, and then use the cash you put on the sidelines to buy back in as things settle down again (which they will). When things start to improve, money will flow in quickly, and probably grow past today's levels. When that happens, reassess ... might be time to again shift some money to the sidelines in preparation for the GOP's next round of hysterics.

raouldukelives

(5,178 posts)

2. No fear here. Investing in climate change deniers, corporate prisons, slave labor and Citzens United

Reply to reformist2 (Original post)

Thu Dec 20, 2012, 12:29 PM

Dec 2012

has been and always will be the lifeblood of libertarians and conservatives.

reformist2

(9,841 posts)

3. Me neither. I just want people to stay strong, and be aware of the games Wall Street plays.

Reply to raouldukelives (Reply #2)

Thu Dec 20, 2012, 01:53 PM

Dec 2012

We may need to bolster the resolve of our congressmen during this, because you can bet their rich constituents will be screaming in their ear over the next few weeks.

ck4829

(35,093 posts)

4. Let it fall. I'd rather trust in the Doug Jones than the Dow Jones.

Reply to reformist2 (Original post)

Thu Dec 20, 2012, 01:55 PM

Dec 2012

Odin2005

(53,521 posts)

5. Wall St. is all funny money, the numbers don't mean much.

Reply to reformist2 (Original post)

Thu Dec 20, 2012, 02:08 PM

Dec 2012

just1voice

(1,362 posts)

6. "Wall Street" the NYSE, was just sold to speculators

Reply to reformist2 (Original post)

Thu Dec 20, 2012, 02:08 PM

Dec 2012

So, I don't know how much sense "Wall Street" makes anymore since they'll be based in Atlanta:

http://www.reuters.com/article/2012/12/20/us-ice-nyse-idUSBRE8BJ0LK20121220

---IntercontinentalExchange agreed an $8 billion deal to buy New York Stock Exchange owner NYSE Euronext on Thursday, propelling the commodities player into European financial futures and helping it to take on arch rival CME Group.

Atlanta-based ICE will look at selling Euronext, NYSE's European stock market businesses, in an initial public offering after the deal closes in the second half of next year.---