The “trickle down” theory was presented 45 years ago by a ‘B-rated’ actor and Republican stooge. From day one it’s been the exact reverse. And you’re so right about the BANG that awaits us in the very near future. Deception has been the proven method of enticing everyday people to invest wildly in the promise of achieving wealth. The dopamine hits they’re reveling in today will be quickly erased by the magnitude of the implosion that lurks quietly in the shadows of the truth it can’t outrun. Complete and utter financial devastation is the only possible outcome when greed reaches this intensity.
In his book "End Times", the population biologist and economic historian Peter Turchin calls this phenomenon the "wealth pump" and predicts that the outcome won't be pretty. If I were younger, I would have moved out of the country by now.
CarolSue - I’m not a financial advisor, just a 75 yr old, retired ICU RN, who has always managed my own stock portfolio. I started selling off, not all, but a good portion of my winners, after the 2024 election. My situation likely isn’t exactly the same as yours since most of my investments are in an IRA & a Roth IRA, but if I were you, I would at the very least start taking some of those profits. Of course if you have any stocks that are in the red, sell them to offset the capital gains taxes. You have to decide which outcome would be the most devastating; paying a chunk of capital gains tax, or perhaps losing double that amount if the stocks you own crash like 1929.
The “trickle down” theory was presented 45 years ago by a ‘B-rated’ actor and Republican stooge. From day one it’s been the exact reverse. And you’re so right about the BANG that awaits us in the very near future. Deception has been the proven method of enticing everyday people to invest wildly in the promise of achieving wealth. The dopamine hits they’re reveling in today will be quickly erased by the magnitude of the implosion that lurks quietly in the shadows of the truth it can’t outrun. Complete and utter financial devastation is the only possible outcome when greed reaches this intensity.
In his book "End Times", the population biologist and economic historian Peter Turchin calls this phenomenon the "wealth pump" and predicts that the outcome won't be pretty. If I were younger, I would have moved out of the country by now.
Chilling warning. So, what to do now?
May I confer with you about the specifics of my economic situation?
Love to you and Snowy!
Problem - to sell my inflated stocks and put my money somewhere safer will cost me a BUNDLE in capital gains so I'm reluctant. How do I proceed????
CarolSue - I’m not a financial advisor, just a 75 yr old, retired ICU RN, who has always managed my own stock portfolio. I started selling off, not all, but a good portion of my winners, after the 2024 election. My situation likely isn’t exactly the same as yours since most of my investments are in an IRA & a Roth IRA, but if I were you, I would at the very least start taking some of those profits. Of course if you have any stocks that are in the red, sell them to offset the capital gains taxes. You have to decide which outcome would be the most devastating; paying a chunk of capital gains tax, or perhaps losing double that amount if the stocks you own crash like 1929.
Pop! 🎈