Waking up at my usual pre-dawn hour, twelve time zones ahead of New York, I clicked the financial software update button to assess day two’s catastrophic results thanks to the world’s stupidest voters. Honestly, there’s no words that express how I feel after a two-day portfolio decline equal to nine months living expenses. Frustration, anger and disappointment seem like obvious but useless reactions so instead I offer this piece of moronic wisdom written from the lead story about Monday’s market plunge on the Yahoo Finance webpage:
The momentum has continued downward because there continues to be a lot of uncertainty,” said Eric Kuby, chief investment officer at North Star Investment Management; “It’s important to note that it’s orderly. It doesn’t feel panic-inspired.”
Almost making me sympathetic to the wave of populism sweeping the world’s developed nations, I pondered how much this might affect the chief investment officer of any financial company. Or any governor, senator and congressional member. In case you live in a cave and don’t know the answer, try Goggling how many Wall Street bankers responsible for the last round of “paper-loss” poverty are reading this from a jail cell.
Threatening our Experimental Early Retirement, another unexpected financial shock unleashed its ugly head thanks to xenophobic voters happy with being poor as long as there’s no non-white immigration in their country. Serving up a dose of reality to the populist movement, the Brexit vote serves as a wake up call. Thankfully, we’re not in dire straits because of a debt-ridden young couple working in the Bay Area tech industry that paid us 12% over asking price for our modest suburban home last year. (All of our house proceeds are in cash or fixed deposits). But let’s realistically glance at the future. While younger readers have their entire working lives to sack away income, those of us who entered the workforce at the beginning of “The Great Decline” are the real losers. Having done everything the way the pundits told us to, we prepaid our mortgage diligently, maxed out our tax sheltered retirement plans, sacrificed weekend outings in favor of nights at home with DVD’s, and invested diligently. Designing a carefully structured asset allocation plan designed to shelter losses during unforeseen events like the 2008 Financial Crisis, adding another huge setback only eight years later almost makes me mad enough to pull the lever for Trump. But that would mean buying some aprons for my inevitable Wal-Mart greeter job.