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James Bengel's avatar

Can I just throw in an extra special fuck-you to Scott Bessent who opined recently that “Americans ready to retire aren’t worried about day-to-day’ market fluctuations”? First of all, what the hell would he know about what concerns ordinary people who’ve had to work for a living, and not trade other people’s labor for their own profit? But second, and much more important, THESE ARE NOT DAY-TO-DAY MARKET FLUCTUATIONS! “Market fluctuations” are a few points up a few points down maybe a small slide for a week… not GLOBALLY CRATERING MARKETS IN FUCKING FREE-FALL WITH NO END IN SIGHT! I mean in a way, he’s right. You’re up a little today, down a little tomorrow, generally trending (hopefully) up, even if not by much, this is not cause for concern. And anybody who’s breathlessly watching every wiggle in the graph line and panicking at a day or two of downward movement has any business in the stock market. But this is NOT what’s happening. every index in the world fell off a cliff on “Liberation Day”, and absent some indication that the administration will eventually wake up from this fever dream of “tariffs as medicine”, this isn’t going to change. So if you’re a few weeks from turning 65 and watching the 401(k) you’ve put money into every month for 26 years and your life savings go up in flames in real time and just as a cherry on top, Elon Musk shredding the Social Security that you’ve been paying into for 50 years, you damned well ARE concerned with what you’re seeing unfold.

And Scott Bessent doesn’t get to decide how you feel about it. Fuck that guy.

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Judy Weigner's avatar

This is so well stated Thomas. Wish it wasn't all true!

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