As Donald Trump took the oath of office on Jan. 20, he was flanked by some of the world’s wealthiest people. The billionaires present that day — including Elon Musk, Jeff Bezos and Mark Zuckerberg — had never been richer, flush with big gains from frothy stock markets.
Now you are invested in dollars instead of stocks, but the writing is on the wall for the dollar as well. Just wait until all our former allies start dumping their dollar reserves.
“We should just go borrow a lot of money, hold it, and then sell it to make money,” Trump reportedly said in response.
Cohn was “astounded” by the president’s response, which he reportedly said illustrated a “lack of basic understanding” about how federal debt works.
Trump, who was the president-elect at the time and had promised to wipe out U.S. debt in eight years, reportedly offered a solution: “Just run the presses — print money.”
Someone remind me how the Zimbabwe dollar collapsed again?
You’re cashing out your plan? I admittedly don’t understand how these things work but in any case won’t you lose money? The market will recover eventually
“Moving money to cash equivalents [within the plan]” is not the same as “cashing out [the] plan.” The money is still in the account, just in the cash sweep fund instead of a stock or bond fund.
I moved my 401k from 100% stocks to 100% cash equivalents 3 weeks ago… the writing on the wall was right there
Now you are invested in dollars instead of stocks, but the writing is on the wall for the dollar as well. Just wait until all our former allies start dumping their dollar reserves.
Trump’s plan to help eliminate the federal debt was to print money
Someone remind me how the Zimbabwe dollar collapsed again?
Yeah i hear you. I expect stocks to dip well before the dollar loses its status. I’ll switch again at a (hopefully) good time.
You’re cashing out your plan? I admittedly don’t understand how these things work but in any case won’t you lose money? The market will recover eventually
“Moving money to cash equivalents [within the plan]” is not the same as “cashing out [the] plan.” The money is still in the account, just in the cash sweep fund instead of a stock or bond fund.
A lot of money, not to mention the tax implications.
“The market will recover eventually” is a dangerous mindset.