This isn't the first time in the last century we've had a big economic crash and a wave of anti-immigrant sentiment cresting into a paramilitary response. Hoover's Great Depression and the OG Immigration Quotas system, Eisenhower and Operation Wetback along with the Recessions of '53 and '58, Nixon's Stagflation and border closure with Mexico, Reagan's S&L crash and closing the border with Mexico, Bush Jr's Great Recession and border crisis...
Pretty much every Republican Presidency delivers two things.
'Could' specifies a possibility of an event occurring, as opposed to no possibility.
For example, I could have rice for dinner, however there is no way I could jump to the moon.
When applied to the context of this conversation:
A person born in the 90s could have had their childhood affected by the recession in the 80s. A person born in the 50s could not have had their childhood affected by the recession in the 80s.
Could is only vague in the scope of probability; this is because it's a confirmation of the possibility, rather than a defined probability.
That was a bit before my time but i remember some people saying the 2002 crash was in part an extension of the 80s recession as the 90s boom was partially due to the tech boom.
The covid one is really the only one that really stands out as being a unique naturally caused crash, but what makes it most unique isn't the market stuff at all.
This one has been just waiting to happen for a while, but this one being intentionally caused is fairly unique, I guess.
The size of the dotcom + great recession combined is fairly unique, making immediately before the dotcom bust one of the worst times you could have retired in the US since at least the great depression. But that doesn't affect millennials directly and it's the affect of two back to make crashes.
Fossil fuels definitely turbo-charged our technological developement. Cheap portable energy and petrochemicals. Guaranteed to be addictive. And without then, or some other comparable miracle, it would have taken us many times longer to get where we are.
We are like someone who only ever played Civ with cheats and we're going to find out soon how hard the game is without (and... because of) that magic black goo from the ground.
Interestingly, in the era of this expression, “hard man” often had a somewhat negative connotation like “calloused,” which I gather is generally not the meaning intended by those who use it today.
The lesson I learned growing up in the 2008 crash, and hearing about the dotcom bubble, is “the finance guys will screw something up, they can’t help themselves.” Hence I have a small, long term short against the Russel 3000 in my portfolio to “counterbalance” random whole market nonsense. Not as extreme as OP, but I can totally see someone being cynical and shorting a lot at the start of the year.
Prior to inauguration day, I balanced my portfolio to favor bets against the s&p 500 (SQQQ, TSLZ, SPXS, ...)
I kept enough of my exposure to the s&p 500 to not be an idiot here. Basically while the s&p went down $1, I went up about $1.25. and also the opposite.
Then, as my assumptions appeared correct, I starting making aggressive puts against DJT, RDDT, and many others. Employing a common bear market technique referred to as "shopping for lottery tickets."
Heh, I wouldn't have done this. I figured Musk would just prop up the stock from the White House, but I underestimated everything.
But whatever, haters gonna hate. :)
That's how Lemmy be.
I suspect downvotes could be for simply being in the stock market, and coming out on top, not just doubt that you did. A kinda "you capitalist pig" sentiment. Which is understandable, but...
No doubt he (Elon) has (propped up the stock from the white house), and is. TSLZ has been a wild ride. But every time I consider getting off that roller coaster I just say "nah. Fuck him." And let it ride. I only put $1000 in TSLZ and that's like $2500 now I think. Idgaf if I lose all that; that's now a principal investment :)
And yeah you probably right. But anybody who has a full time job and a 401k is out here mindlessly investing in TSLA through their 401k, I'm out here trying to take money out of Elons bank.
And to those that don't have a full-time job and are, I guess for lack of a better word, otherwise envious...
I built my own stock portfolio on ~$20 a week out of a part time check from a brewery, starting in 2009. Y'all can do the same (well actually, we'll see...). Vote with your dollar, etc.
I'm in the Warren Buffet/sorta Motley Fool camp on small time, long term stock holding in a few companies you see doing good things, putting in bit by bit.
Today's not looking good because Donnie is giving a talk and DJT is getting another bounce, but if it sinks back below $15 before May, I'll cash in another ~$10k.
The last three years have produced some of the most outrageously good returns in the market's history. Like, throw your money in the S&P and get 25% ROI any-idiot-can-get-rich levels of good returns.
What the hell have you done with your portfolio that you missed all of it?
Not everything. But yeah, I used them to buffer damage my portfolio would have otherwise taken, and then made aggressive puts against highly volatile stocks like RDDT and DJT. Bought dumb sounding options for pennies, selling them for dollars.
Kinda sucks having a generation of spoiled narcissists in charge tbh.
You forgot "lead-addled"
Some of them could use more lead imo.
Lead-deposed
Three generations of spoiled narcissists coasting on what the Greatest and Lost built.
Can we take a break from daily historic events a little bit?
So now we're on to "decades where centuries happen." :/
This isn't the first time in the last century we've had a big economic crash and a wave of anti-immigrant sentiment cresting into a paramilitary response. Hoover's Great Depression and the OG Immigration Quotas system, Eisenhower and Operation Wetback along with the Recessions of '53 and '58, Nixon's Stagflation and border closure with Mexico, Reagan's S&L crash and closing the border with Mexico, Bush Jr's Great Recession and border crisis...
Pretty much every Republican Presidency delivers two things.
Sorry, you are cursed to live in interesting times.
If only these times were actually interesting and not just a pile of stupid bullshit.
Best I can do is a once in a centuries empire collapse.
Remember the 80s recession? GenX remembers.
Millenials born in late 80s or early 90s may not remember but it could still have affected their childhood.
Also, it could not have. "Could" anything is pretty vague. Every childhood had a preceding history.
'Could' specifies a possibility of an event occurring, as opposed to no possibility.
For example, I could have rice for dinner, however there is no way I could jump to the moon.
When applied to the context of this conversation:
A person born in the 90s could have had their childhood affected by the recession in the 80s. A person born in the 50s could not have had their childhood affected by the recession in the 80s.
Could is only vague in the scope of probability; this is because it's a confirmation of the possibility, rather than a defined probability.
Sounds so banal.
Who?
Which Who?
The
Ah
Tomato
What?
When?
Soon.
Those sucked.
Devestated my childhood
That was a bit before my time but i remember some people saying the 2002 crash was in part an extension of the 80s recession as the 90s boom was partially due to the tech boom.
You’re right — the early 80’s ugh. 15% inflation with a gas crisis. 10-15 year panics were the norm in the 1800’s too
Mortgage rates skyrocketed, people lost their homes.
4th "once in a lifetime" crash, SO FAR...
more like
Like two three years ago when they told us there might be a nuclear escalation.
Millennials: eh shrug maybe not
You should expect about one recession every 5-10 years.
They are all "once in a lifetime" in their own way if you want to sell news headlines.
The covid one is really the only one that really stands out as being a unique naturally caused crash, but what makes it most unique isn't the market stuff at all.
This one has been just waiting to happen for a while, but this one being intentionally caused is fairly unique, I guess.
The size of the dotcom + great recession combined is fairly unique, making immediately before the dotcom bust one of the worst times you could have retired in the US since at least the great depression. But that doesn't affect millennials directly and it's the affect of two back to make crashes.
Yeah, the Trump Recession (we hope not a full-blown depression) will have been uniquely caused as well. Definitely one for the history books.
You think the future will have books?
Far future will. Life on Earth tends to find a way.
homer_so_far.png
What makes you think a completely independently evolved species wouldn't make the same mistakes we did?
Fossil fuels definitely turbo-charged our technological developement. Cheap portable energy and petrochemicals. Guaranteed to be addictive. And without then, or some other comparable miracle, it would have taken us many times longer to get where we are.
We are like someone who only ever played Civ with cheats and we're going to find out soon how hard the game is without (and... because of) that magic black goo from the ground.
Meanwhile, genx:
Yeah kinda. We've gone through everything that the Millennials have plus some.
wait really? i don't see how time could work that way
Nature doesnt owe us, humanity does. We havent come this far to cock it up now
You got to buy houses at a reasonable price and had proper student unions, don't @ me.
I'm sure you think that's true.
Pretty early to use "surviving" as a verb.
Throw gen z in there. We start at 1997
I’m gonna get fired for being room temperature one day.
We are in the "hard times create hard men" part of the cycle.
Hard non-binary persons, mind you!
And if they wear furry suits it’s because they’re harder! Wait…
Interestingly, in the era of this expression, “hard man” often had a somewhat negative connotation like “calloused,” which I gather is generally not the meaning intended by those who use it today.
I wonder if it was intentional in the original…
I contemplate the moment in the market, the idea of allowing your own crucifixion.
letting the days go by~
ITS ENOUGH SLICES
I expect more to come before this term is over
I've learned from being an adult through four crashes.
My portfolio has literally done better this month than any month in its history. 🤷
Edit: doubt or hate all you want lmao. Not here to argue.
Press X to doubt
I believe it.
The lesson I learned growing up in the 2008 crash, and hearing about the dotcom bubble, is “the finance guys will screw something up, they can’t help themselves.” Hence I have a small, long term short against the Russel 3000 in my portfolio to “counterbalance” random whole market nonsense. Not as extreme as OP, but I can totally see someone being cynical and shorting a lot at the start of the year.
Prior to inauguration day, I balanced my portfolio to favor bets against the s&p 500 (SQQQ, TSLZ, SPXS, ...)
I kept enough of my exposure to the s&p 500 to not be an idiot here. Basically while the s&p went down $1, I went up about $1.25. and also the opposite.
Then, as my assumptions appeared correct, I starting making aggressive puts against DJT, RDDT, and many others. Employing a common bear market technique referred to as "shopping for lottery tickets."
But whatever, haters gonna hate. :)
Heh, I wouldn't have done this. I figured Musk would just prop up the stock from the White House, but I underestimated everything.
That's how Lemmy be.
I suspect downvotes could be for simply being in the stock market, and coming out on top, not just doubt that you did. A kinda "you capitalist pig" sentiment. Which is understandable, but...
No doubt he (Elon) has (propped up the stock from the white house), and is. TSLZ has been a wild ride. But every time I consider getting off that roller coaster I just say "nah. Fuck him." And let it ride. I only put $1000 in TSLZ and that's like $2500 now I think. Idgaf if I lose all that; that's now a principal investment :)
And yeah you probably right. But anybody who has a full time job and a 401k is out here mindlessly investing in TSLA through their 401k, I'm out here trying to take money out of Elons bank.
And to those that don't have a full-time job and are, I guess for lack of a better word, otherwise envious...
I built my own stock portfolio on ~$20 a week out of a part time check from a brewery, starting in 2009. Y'all can do the same (well actually, we'll see...). Vote with your dollar, etc.
100%.
I'm in the Warren Buffet/sorta Motley Fool camp on small time, long term stock holding in a few companies you see doing good things, putting in bit by bit.
I sorta was this was, but COVID wrecked my gains because I failed to exit. This time I swore to myself I wouldn't let it happen again.
lol ok not here to argue or prove anything.
Today's not looking good because Donnie is giving a talk and DJT is getting another bounce, but if it sinks back below $15 before May, I'll cash in another ~$10k.
The last three years have produced some of the most outrageously good returns in the market's history. Like, throw your money in the S&P and get 25% ROI any-idiot-can-get-rich levels of good returns.
What the hell have you done with your portfolio that you missed all of it?
Maybe they've just put everything into those 5x short s&p500 ETFs
Not everything. But yeah, I used them to buffer damage my portfolio would have otherwise taken, and then made aggressive puts against highly volatile stocks like RDDT and DJT. Bought dumb sounding options for pennies, selling them for dollars.
I mean, if you were bearish in 2023 I couldn't really blame you. But shorting is an expensive hobby.
Who said I missed it??
I'm doing exceptionally well this month.