Okay... no new comments after the free fall for awhile yesterday in the stock markets????? Over 1100 pt drop after it was all said and done....
Today was down another 200 pts I think...
You know the sorta sad thing about this in my life... my nephew went to school for investing and all that... and last year when we were up for one of my parents funerals, we stayed at my sisters' house and her son came by and we got talking about the economy and all the increases on prices (must have been for my father's services in Sept) and what the "covid" lockdowns had done and how things were not looking any better. I said that we were looking to go into a tailspin, that the economy could not keep up with all the give away programs, that we were headed for a rude awakening... and he basically told me I did not understand the stock market and that it was not in the dire straits that I was thinking it was... and my sister was talking about how much they were making with him managing the investments and that a few little dips were to be expected... and I said yes, it will fluctuate, and there will be good and bad months... but that this country was headed for a major correction and probably a recession... that people could not keep on sitting on their butts, and expect the gov't to keep supporting them and that prices were going to continue to rise...and that the mess with the gas and oil industry was pushing us to ridiculous prices... and remember this was when it had only gone into the $3.25-3.50 range.....
Yet they kept talking about how much prices of food were going up and I tried to get it through their heads that it was in great part due to a couple things then... droughts and crop failures...increase cost of fuel for tractors to run.... and TRANSPOTATION costs to get it to the stores. My nephew just is that much too far removed to fully get the connection...
I understand from a few comments on his facebook page that I checked on the other day... that he is really upset that they are having so many negative days... and it is stressing him out...
WELL, HELLO..... been telling you this.... And on top of it all, he is one that is in the will... and wants nothing from the estate, has done nothing to help... and is one of the "3 grandchildren" included in the e-mail from the niece - his cousin - that is causing all the expenses and all with the latest BS.... but I am sure he will not turn down his part of the inheritance when it all finally gets settled ....he just bought a new sports type car because he was tired of his truck... yet it is not family friendly and they are going to have a 2nd child here shortly....and now his world is coming apart because he is feeling the financial problems...
I am just glad I did not ask him to manage any of mine... He said I was way too conservative and that I was losing money with having most of my retirement funds in the very conservative low interest YET SAFE , account that I had switched them to a year or so ago....
Yep, I didn't "make " some of the money I probably could have... but it is 95% in safe, non-market oriented account that I won't lose any money on either... Not that anything is going to keep up with inflation now....
Okay, so how are you all feeling with the last couple of days.... and the constant upheaval like no baby formula available????? I know that several of us are well past that stage, but there are members here that do have young children/babies.... at least most are in the mindset of being conservative with money and self sufficient and putting up food for the winter etc....