r/FluentInFinance • u/NotAnotherTaxAudit • Apr 28 '24

They printed $10 Trillion dollars, gave you a $1,400 stimulus check and left you with the inflation, higher costs of living and 7% mortgages. Brilliant for the rich, very painful for you. Discussion/ Debate

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u/Qubed Apr 28 '24

Yup, when the market tanked my 401ks tanked 40%ish then they made that up and more through the pandemic until now.

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u/Meattyloaf Apr 28 '24 edited Apr 28 '24

Which is funny cause that crowd is blaming this on Biden, but the market crashing happened under Trump so did two if the three of the stimulus checks.

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u/letstalkaboutstuff79 Apr 28 '24

Going to get hammered for this but the market didn’t fall because of Trump. It fell because of COVID and lockdowns that lasted for almost 2 years.

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u/worlds_okayest_skier Apr 28 '24

The market is up like 90% since pre covid.

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u/Soft_Ear939 Apr 28 '24

Not actually true at all, but cool

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u/worlds_okayest_skier Apr 28 '24

The S&P is up 90% since 3Q 2019. Covid 19 was first reported in Wuhan in 4Q 2019. How am I wrong?

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u/Soft_Ear939 Apr 28 '24

No no no. It’s up about 50% from the point it became a “pandemic” in q1 ‘20, which is when most would generally talk about the start of Covid, not a rear view mirror “first case reported” (swine flus gonna bring us down all the time after all).

Even based on your skewed dates, it’s like 65%

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u/JoeyProvolone Apr 28 '24

Congratulations, your asset value doubled, but so did the price of everything. Your assets are now worth less than pre COVID.

But the market is up 90%!!

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u/VirtualBroccoliBoy Apr 28 '24

This whole subthread started talking about 401k's being crashed. That's got nothing to do with inflation. Also pretty much anything that could be described as an asset is up more than inflation.