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Economy
“People Are Not In A Good Place” – Mom-And-Pop Investors Panic As Fed Abandons Them
- Retail ‘investors’ are suffering greatly as the market meltdown accelerates, with some wondering if they will live long enough to see their investments recover.
- As a reminder, the Nasdaq is suffering its largest drawdown since the great financial crisis and the S&P 500 is teetering on the brink of a bear market (while under the surface a number of the largest companies in the world are down very dramatically)…
The collapse in these widely-held stocks have sparked shock and horror among America’s investing class who have enjoyed a decade on ‘easy street’, buying every dip knowing The Fed will always be there for them.
WSJ cites one asset manager whose retired clients have thrown in the towel and moved to cash:
“Those people were not in a good place,” said the CIO.
“They had a lot of anxiety about goals and dreams and being able to live their lifestyles.”
Source: zerohedge.com
Yes, a year or two with no food, running water, fuel, electricity, police, hospitals & stores, is just what we’ve been wishing for !!!!! We haven’t even started to hear the “WHINING”yet.