I honestly don’t even want to talk about it lmao

Your homie get filthy rich or what?

I never heard of anyone that actually invested in it and got the pay load, so that keeps me happy.

Nah definitely not filthy rich, but 5 figures on stupid initial investment

It’s honestly a toxic way to look at any potential investment though

Kind of like talking about how I could have won with a hand of cards after I folded

If I had more disposable money at the time, I would've definitely got some.

I probably also would've sold it way before it was $8k with my young broke ass.

Even half of six figs would've changed my life

Ain’t no business closing in America lmao.
The only people dying are old people.
But with how many people think that Corona the beer is to blame, are the same idiots that won’t go to the doctor and get proper medication which will lead to death in young people. Which will create further panic

I’m not here to argue with anyone man. At this point you’re going to believe whatever you want to believe I’m just saying prepare yourself financially

cnbc.com/2020/03/10/coronavirus-trump-plan-for-economic-response-not-ready-officials-say.html

Color me shocked

f it this is all westworld

ITs been approaching an all time high for a few years

“Yo it’s all good! we got you, economic aid coming for all TOMORROW!”

“oh yh about that...”

I mean it's not like wells fargo giving me a good rate either ways...

I'm good.

So anyone who wants to answer seriously can give insight on the whole cutting interests rates idea and how I can prepare for it with some of the savings I have in the bank?

Real niggas ain’t scared

lemme take a crack at it. keep in mind that this is gonna be very general economic theory, but I can elaborate more if need be.

On March 3rd, the federal reserve cut down the fed fund rate by a significant 50 percent, from 1.75-2.00 to 1.00-1.25. The federal fund rate is the interest rate that depository institutions (read: commercial banks, credit unions, etc) use to lend to each other for reserves.

What does cutting interest rates do? Well, let's look at interest rates as the opportunity cost of withholding money. When interest rates are high, there is less incentive to take loans out and have greater asset spillover, leading to a reduction in money supply, meaning less consumption and investment, as well as a reduction in net exports (because the currency becomes stronger, due to there being less money out there). When interest rates are low, it's the opposite. (this part is much more in-depth than what I wrote, but this is the gist).

In order to keep the economy on track from the stock market correction and induction of the Coronavirus, the Fed decided to cut interest rates. This is expansive monetary policy to stimulate consumers and businesses to not withhold money but instead invest.

Was this the right move? In my opinion, no. The issues with the stock market was due to an adverse supply shock caused by the Coronavirus affecting manufacturing and industries both internationally and domestically, as well as a correction that was well-needed even before the virus.

Now, the Fed has lost one of it's most important tools to combat a possible recession, as the fed fund rate is a really powerful tool that can be used to either push the economy forward or hold it back. The only way they can utilize it now in the face of a financial crisis or more adverse supply shock is to enter negative interest rates, which is pretty controversial depending on your economic mindset.

My take for people out there? Keep doing what you're doing. Keep an emergency fund as always. Keep practicing basic personal finance. Don't time the markets if you're invested.

phew, that was longer than I thought it was gonna be, but it was good review for my exams.

Been a ATH for the past like 6 years dude.

i need a new car and got cashed out on my last one should i wait to get a new one

dam u were ready
s*** isn't pressing on me heavy rn but i'm super anxious for the coming months

Same I don’t wanna work but I need money cause I want to get a new car but I don’t know if I should get a car cause I can’t really go anywhere rnow

For weeks I had people tell me “the media is blowing this out of proportion” or “this is just the flu” “well I heard the flu is more deadly”

Little did they know that they were drinking the koolaid as the wealthy started dumping their stocks

A bunch of car companies are giving no interest deals so wait