Remember those suburban conservatives who Dems tried so hard to get in 2020? Well Biden just took a big ol shit on their retirement.
·3 years ago- Nothing changed but market cap. All the stuff is still there. Just a number is changing.
- The main fear I have is that we're headed for a recession with high unemployment, again. The only thing they know how to do is lower interest rates half a percent and quantitative easing, and they can't do that anymore.
- Retirees ought to be getting increases in social security.
- Retirees should be holding more bonds than stock anyway. Bond yields have been rising, which means that the cash they can sell their bonds for has been falling. However, they tend to hold bonds to expiration for the payments, and they can roll the payments into more bonds with higher yields, so this is generally fine.
- I enjoy overleveraged assholes being forced to sell at low prices and it will tend to improve 401k returns in the long run to have good buying opportunities.