How’s Your 409K Doing?
Self proclaimed business genius wants to know how your 409K’s are doing pic.twitter.com/5kUyzdAScb
— Brian Klaas (@brianklaas) January 9, 2020
Trump has since deleted that Tweet
Replacing it with this.
STOCK MARKET AT ALL-TIME HIGH! HOW ARE YOUR 401K’S DOING? 70%, 80%, 90% up? Only 50% up! What are you doing wrong?
— Donald J. Trump (@realDonaldTrump) January 9, 2020
Some suggest Trump did it on purpose to elicit a response. And there were some funny ones.
Stand by for Mnuchin announcement that this was NOT a typo and that #GloriousLeader has revealed a NEW and IMPROVED investment vehicle (far superior to a mere 401k! — +8!!) & was just pre-announcing 409k, being the stable/marketing genius he claims to be. #PrepareTheSharpie
— Arizona Bill (@ArizLib) January 9, 2020
Simple Math?
Musical Tribute
Mine’s Real Fine! How’s Yours?
409 Fun Facts
The 409 was in the Chevrolet Big-block Engine group.
The Chevrolet “Big Block” is a term for a series of large displacement V8 engines that have been developed and produced in the United States from the 1950s until 2009. As American automobiles grew in size and weight following the Second World War, the engines powering them had to keep pace. Chevrolet had introduced its popular small block V8 in 1955, but needed something larger to power its medium duty trucks and the heavier cars that were on the drawing board.
The W-series was produced from 1958 to 1965, and had three displacement options: 348 cu in (5.7 L), available from 1958 to 1961 in cars, and in light trucks through 1964; 409 cu in (6.7 L), available from 1961 to 1965; and 427 cu in (7.0 L), available in 1962 and 1963.
The 409 cu in (6.7 L) version was Chevrolet’s top regular production engine from 1961 to 1965, with a choice of single or 2X4-barrel Rochester carburetors.
A 409 hp (305 kW) version of this engine was also available, developing 1 hp per cubic inch with a dual four-barrel aluminum intake manifold and two Carter AFB carburetors. It had a forged steel crankshaft. This dual-quad version was immortalized in the Beach Boys song titled “409”.
When Does Trump Trump Take Up Surfing?
In other news, I am please to report the Trump administration takes credit for curing cancer.
TRUMP CURES CANCER!!!
(I’m sure all the research that caused this correct and wonderful news started with Government money after November 8, 2016)https://t.co/srg0G6xWYS
— Jim Bianco (@biancoresearch) January 9, 2020
Desperate People Do Desperate Things
Desperate people do desperate things. Like this, and lack of proper crowd control at Soleimani’s funeral so 50+ are stampeded to death.
Ukrainian airplane shot down by mistake by Iranian anti-aircraft missile, Pentagon officials believehttps://t.co/kn7JSTuLzT https://t.co/MWAfoc4Img
— Jim Bianco (@biancoresearch) January 9, 2020
I am very pleased to see Jim Bianco speak his mind like this. Many fear readership or client repercussions.
Mike “Mish” Shedlock
409… Pretty sure he was talking about a cleaning agent,,, not a GM engine size…
Just what I was thinking, I asked Trump and he said he always used it when he cleaned hotel rooms, that’s the reason he got it confused with 401K’s.
–just remember Trump is much better than the opposition despite his flaws
DOJ closes investigation of Clinton —swamp still in power in DC—
Hiding all emails for purposes of fraud is, in theory, not purposely mishandling – what a joke.
These people are totally out of touch. It’s going to be interesting when lots of people in my age group reach retirement age with no pension, measley 401k’s and social security issues. Just looking around at people I know it looks like the poverty rate is going to skyrocket.
Millennials aren’t investing in 401(k) plans, at least if the headlines are to be believed. That means boomers and gen-X are invested, but should be reducing their risk, not playing in the casino. My plan didn’t do 70% last year but that’s fine because when the music stops I should be able to keep what I have, at least if my fund manager is doing his job.
“Downside risk” doesn’t ever enter the lexicon. And it will burn a lot of people, unfortunately.
I don’t know Mish, do you still think I’m a moron for saying you have TDS? Trump sure seems to take up space in your head. Who cares about Trump? You seem to.
Has anyone noticed that this Mish posting includes and elicits a whole raft of comments in which you could substitute “the current US president” for any instance of the word, “Trump”?
“Trump” tweets that the cancer kill rate has gone down. And he includes a random mention of “this administration” to kinda tie the two things together in the mind of the reader. Sort of like putting a pretty women in a car ad. Or like a Bloomberg headline generator: “The stock market was today on news that “.
And his tweet is magically translated in some minds to “Trump claims he cured cancer!!!!!!!!”
Or, “if Trump claims he’s the cause of a high stock market, he must take the blame for a low stock market.” … OK. … Sure. … And, let’s see a list of American presidents who:
People are soooo fixated on Trump being somehow different from the rest. I agree. He is different. He doesn’t speak the Standard American Politician dialect. But that’s his skin.
Under the skin he lives in the same world any president does. If you can’t – or won’t, won’t, won’t! I won’t! – understand his dialect, at least, for God’s sake, don’t chase after your imagination of what he’s saying like you’re some frisky dog after a tennis ball.
The issue with the 409k tweet isn’t the typo, but him taking credit for the stock market high means that he will have to take the blame for the eventual crash.
What has trump ever accepted blame for?
Either he’s willing to die on that hill or he’s too dense to realize that QE creates bubbles. I would think Trump knows better from his statements as a candidate, but who knows.
Of course we know it’s not just Trump who would take the blame in a crash, it’s the whole “populist” movement. He’d have to be a total narcissist to be okay with sacrificing his followers for this fake market, assuming he’s aware.
Naw, haven’t you heard? Market downturns are the Fed Reserve’s and Powell’s fault because they suck at golf and can’t putt. No touch! (or something like that.)
Don’t worry – it will be somebody / something else’s fault when the time comes. There is zero chance this bull market will survive till the end of his second term should be get one.
This article on Zero Hedge put Mr Trumps tweet into perspective.
link to zerohedge.com
What will future generations think of a world where leaders of the most powerful nations tweet & tweet crap?
Will they judge harshly, understand, or look up to this as some pinnacle in global human communication as they have become even more degenerate?
I hope they will have moved on and upwards else its game over for all of us.
Future generations will, guaranteed, be told to believe that “We” “are more advanced and sophistimecated now….”
Lame. You never made a mistake, Mish?
Trump is really a great troll. 🙂
The president is a special needs child, and Mish said something hurtful and not PC at all. What a meanie!
I didn’t say it was hurtful or mean. Just lame. Don’t care about PC. I am not a SJW.
You’re clearly a defensive snowflake when it comes to Dear Leader.
You are trying too hard.
I’ll second that!
A special needs child that is enormously more successful than you – what’s your excuse!