atwaterkent Senior Member 75+ Posts
Join date : 2018-06-17
| Subject: Re: Stock Market Holding Up January 15th 2021, 10:21 pm | |
| Most analysts are expecting an economic boom near the end of this year and into the next because the government will be pumping money into it to keep it out of recession, which would be far worse. The debt started its steady rise in 2003 and kept going no matter who was in office. Despite this, and to my great surprise, inflation has not been a problem. We should close tax loopholes for corporations and the wealthy to offset some of the spending. Profitable companies should pay taxes, we do and we don't make billions of dollars a year (okay, maybe you do Chas ), so it would seem fair that they do. Gas prices are low because travel is way down, they will go up gradually as more people travel by car and plane. Virtually all the major car companies are switching over to making electric vehicles in the near future, so demand for gas will drop. Most of the major oil companies are focusing on clean energy while writing off losses on the value of their oil reserves. The handwriting is on the wall for fossil fuels as electric companies run from coal and oil and invest heavily in clean energy projects. After a short term recovery for oil stocks in the near future, I will sell mine and stay out of oil stocks in the future. The only significant increases I've seen here are food and, as always, medical. My gas and electric bill started off this year the same as it has been, insurance is up a few dollars as is property taxes. The Social Security inflation raise was indeed small, but it means there's been little overall inflation. I wouldn't duck and cover for at least a year from now, then take another look at things at that time. Maybe take some profits off the table, its been a very profitable year with the right investments. Hold onto that Studebaker stock Chas, its sure to come back big anytime now! |
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chas Technician
Join date : 2017-04-09
| Subject: Re: Stock Market Holding Up January 14th 2021, 3:37 am | |
| Dan,
I changed my investment profile from conservative to fixed income. At least for the duration. All this stuff that has happened has to be paid for and I strongly suspect that the market will drop considerably, a "reset" as the pundits say. I would think that will be in mid-summer when this new administration gets up and running and makes "economic" announcements. Expect inflation big time as the Feds print more money to replace what they gave away... Further eroding nest eggs if in $$$. Then again I have not been able to wrap my mind around precious metals either. I suspect the brokering fees will eat that up if when...
Last year 1st quarter I lost some 3%, yes, not much but I lost and had not done so in 15 years. That was clear enough.
I also anticipated a possible issue in replacing my leased auto coming April of 2021. I am expecting short supply and/or big price increases... The effects of an administration change.
So, I turned in the leased 2018 early and got a 2020. Not the best deal but got exactly what I wanted, surprise was a another 25% increase in mileage and very noticeable torque increase... Then again I have not gone any where except for groceries, drugs and doctors...None the less, I feel I am in "hunker-down" mode.
I have already seen dramatic increases in energy, insurances, property taxes food and other services, only decrease being gasoline and that will not last once the 19 goes away.
Social Security has only increased 1.2% for 2021, a marrowless bone...
IMNSHO the excrement is about to hit the rotary oscillator if you can't duck at least cover... chas |
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atwaterkent Senior Member 75+ Posts
Join date : 2018-06-17
| Subject: Stock Market Holding Up January 8th 2021, 4:54 pm | |
| Hard to believe with all the mess going on the stock market hits an all time high? When things get better will it go down? |
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| Subject: Re: Stock Market Holding Up | |
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