They shouldn't be allowed to trade at all while holding a position. They'd find ways around it sure, but at least make it tougher. you want to hold office or be in a position where you have inside access to market affecting information? Fine, park everything in broad market index funds for the full duration of your term. Make a single trade and you're out. the current system makes high level politics a path to generational wealth, which is ridiculous.
Am I wrong to say stop trying to fight inflation at this point? Wages have risen to help offset it. People are consuming.
Nah, fuck that. Everyone who works at a big 4 accounting firm has more restrictions than that. Everything they own should go in a blind trust, no exceptions.
Yeah- they used to have access to my brokerage account. I remember I tried buying a random security I never would've known the K did work for, and got my trades blocked.
Argument is it eats into savers pretty badly at levels this high - hurts the olds. And not the evil billionaire boomers who can weather it, the guy who has a pension from working at Ford for 40 years is who gets hurt disproportionately. If we as a society decide we are going to tolerate higher inflation, we're going to need to expand the welfare state pretty dramatically so those guys don't end up on the street.
Yep. I was at EY for 10 years, it got ridiculously strict. All of my accounts had to be enrolled in an automatic data feed. I got audited and they dinged me for not disclosing that I had a “loan” and insurance plan for my iPhone.
Most pensions and obviously SS are inflation adjusted. Maybe we should stop using the bullshit current CPI calculation to not hurt them as badly.
Optics wise, the Fed can’t appear slow on inflation because it’s their core mandate along with employment. What you can argue is the Fed has already lowered inflation expectations and you can see that in the real time data. However, the Fed is using lagging data (based on their speeches and rhetoric) to come out as hawkish. We are probably in the 7th inning of the rate hikes (if you believe like I do that the terminal rate is 4.5). The question than becomes how badly do the past rate hikes, which have a lag effect, hurt an already bad outlook (decrease spending and increasing inventories). That will determine the degree of the recession we face on the other side of this.
At least in my experience, very few pensions have inflation adjustments. SS yes, but not employer pensions.
The fear is a repeat of the 70’s, Powell does not want to be viewed as Arthur Burns. Burns was a Fed president largely credited with letting inflation get out of control in the 70’s, he relented too early on raising rates is the widespread belief. So far you’ve just seen equity, housing, and bond markets correct from bubble esk levels, the Fed views everything that has happened thus far as relatively good.
Id be surprised if that was the bottom without a Fed pivot, you have yet to see any meaningful change on the earnings side of things We also have not seen much of the data post Jackson hole when the markets realized Powell was serious. Since then 30 yr mortgages have gone from around 5% to kissing 7%.
Eh, you never really know. Most of a bear market recovery happens in the first 30 days. my tax advantaged accounts are maxed. Using this to dca in my taxable brokerage. Just in case I owe federal income tax in 2023, I can max a traditional Ira under the wife’s name since she doesn’t have an employer plan. If not, I max out my Roth to start the year. Sitting on quite a bit of cash… feel fortunate to be in a good spot after a larger than expected bonus.
Ah, the restricted entity database. Another one of the many beautiful things to love about public accounting. I remember when they set up my firm's automatic feed. At first, they were only able to use the feed for certain brokers and they mandated that everyone move their investments to one of those brokers. Didn't impact me because TD was one of the options, but it caused quite a stir and a lot of bitching.
Too far gone at this point to capitulate on my trading account. Just going to hold and pray for no margin calls.
I’ve gone from 6% cash to 8%. Not by selling or accumulating just by losing 15% in my brokerage account.
I’ve yet again deployed cash. As I’ve done just about weekly for countless months. Gonna catch that falling knife!
Same. It's been since last November. I better be filthy rich in 5 years or else I'm going to complain that the stock market doesn't work.