I have an account with Prudential because my community college gave me the 401k.
Check with the community college to see if they have anyone there to advise you, and if they don't, they should at least be able to get you in touch with a live Prudential person either on campus or locally where you live.
The "economists" at a forum I attended say the economy will recover in 2022. I can see housing market remain strong but how could this be possible? Are they speaking for only those people with means, those who "have", not the "have-not"?
Before the economy crashed, there were two economies that have been splitting further apart since the early 1980's, one for the wealthy or the 1% and one for everyone else. Nothing has changed from that set-up, and it is a set-up. The economy for the 99 percent has been in decline for three decades. People make less money, take home less, pay a greater share of their incomes for housing. While employment was high, people were still struggling to make ends meet. Then Covid caused markets to crash and unemployment to skyrocket.
My economic prediction does is not based on any of these facts, but by what I was shown by spirit years ago and posted on my Prediction Page -- a crash in 2020 that does not return us to "normal" until 2028. It isn't just about the stock market; it is well-being. It is how people feel in their daily lives. I see 2028 as true restoration, as the collective adjusting to the reality that we must wake up and change this market system that is driving us off a cliff. When it does restore, I can't say what it will mean for the stock markets, but we feel good.
The stock market relies on continuous never ending growth. Continuous growth means continuous eating up of earth's resources, and burning fossil fuels, which means degradation of our earth. Continuous growth simply cannot happen any more. We have run out of resources for continue growth. We can't have it both ways. We have to protect nature, conserve natural resources, stop throwing away clothes and materials and buying new stuff just to help corporations get profit. Reuse, recycle, protect the earth.
So the basic structure of society has to change. I see a new world forming, one that is fairer and kinder and has a better quality of life for more people. Not richer, not more stuff. Sustainable.
BTW, Nobel Prize winning economist Paul Krugman predicts a worsening economy (and I would agree fully with him) if Trump is reelected and if the GOP remains in power. The Republicans are bad for the economy. They are like locusts.
If the dems are elected and take over the government, it will take time to rebuild what was destroyed. But we will be happier knowing we are building something good. However, even if the dems are reelected, as long as the country is heavily influenced by profiteers, they won't be able to make the changes needed. It's going to take a longer time for us to adjust to the reality that we can't keep using up earth's resources and burning fossil fuels. The vision I had that I keep writing about indicates that it will be near the end of this decade for us to finally do what is necessary to live in harmony with the earth. The GOP will have to go.
@jeanne-mayell Thank you. It saddens me to hear two economists speaking on behalf of the 1% at the annual economic outlook event of our local chamber of commerce. They pretty much ignore the sufferings of the have-nots. Some "economists".
@drolma No need to be sad any more than you'd feel when you read what Fox News says. There are right wing economists, just like there are right wing psychologists and right wing psychics. They are just pundits with an opinion. Some economists routinely use their predictions to boost investments. Others predict to help their political party. It's just the way it is. I would not read the economic forecasts of someone unless I knew their backgrounds and their long term track records.
If things return to normal in 2028 isn't the big crash right around the corner in 2030? or do you feel it's later than that?
@drolma I don't know if your local economists, the ones who talked about at 2022 recovery, are right or left wing. I was generalizing about economists who are out in cyberspace making predictions.
Perhaps your economists are using honest indicators and perhaps they are even correct. Certainly once a vaccine is working and distributed, around 2022, then much recovery in the markets will happen. But what is meant by "recovery"? If we continue to destroy the planet just so oil companies can thrive, and just so business in general can keep selling stuff, that is not a recovery. People will make money again, but we will be running on empty and when we are empty, the crash will be irreversible.
My 2013/4 vision posted on this site showed a downward slide starting late 2019 and full on in 2020 and a later recovery that I thought began right away but takes until 2028 to bring us back to former normalcy. But this was not a traditional crash and recovery. But it's not just about the markets. It's about the collective well-being.
When I initially got that vision I thought is was of the stock markets. But over time I realized it was a measure of the U.S. Collective emotional state. Usually the Collective emotional state corresponds closely to the Collective's economic well being. But today, many people feel that the stock market is not a reflection of the people's economic well being. It is just the value of stocks sold on the Dow Jones Industrial Exchange.
Thus the econmists you quoted could be right, that the markets "recover" in 2022.
I am simply not focused on the markets per se but on the collective well-being of the majority of people in the U.S. and industrial societies. So in 2020, we had the biggest crash ever in the history of this country in terms of highest unemployment. We have also been abused by the leader, gaslighted every day. The collective morale in this country is in the dog house. Our economy is not sustainable. We are running on empty. I feel the true recovery comes in 2028 when we have smart honest people in charge (a lot of women and caring men) and we have shifted to a sustainable economy and are truly addressing climate justice and turning around climate change.
@stu asked me when the big crash was coming. Stu, if you are talking about the stock market, I don't know. I am not predicting the stock market. When I do a reading of the future, I focus on the overall collective state of mind. I realize I need to clarify that. The unemployment rate in 2020 shot to the highest it has ever been. That, to me, IS a big crash, Stu.
Perhaps @coyote and others will weigh in on what I am speaking about. I am trying to state what I mean by "the economy." Over the last ten years, I use to get actual market indicators in my meditations. I'd see a correction and then new highs. And often they'd happen. One market trader reached out to me years ago to tell me my market predictions were right on target. But after that I stopped seeing those indicators in visions. I just don't think they reflect the collective wellbeing any more. So I don't see them because I focus on the emotional health of the collective.
I think the stock market is totally unhinged from reality, it's become a giant Ponzi scheme where cash is parked because there's no better place to invest it. Interest rates offer low returns and investing in any industry has become risky since the 2008 crash.
The stock market is made up of less and less companies.
"In 1997, there were roughly 7,500 publicly traded companies in the United States. That number has since fallen by half, to around 3,600 — a startling trend when you consider that the economy has more than doubled in size over the same period"
and it doesn't represent small businesses or communities.
this article explains it all:
"What Is the Stock Market Even for Anymore?"
"With the economy in free fall, the resilience of share prices defies the misfortunes of most Americans."
I kinda thought there would be a giant crash around 2030, due to climate change? crops would fail, the weather would become so extreme and the current way capitalism operates wouldn't be possible. Humanity would shift to working in different ways and a fight for it's own survival, there wouldn't be a return to the old ways. Perhaps I've read between the lines somewhere?
I kinda thought there would be a giant crash around 2030, due to climate change? crops would fail, the weather would become so extreme and the current way capitalism operates wouldn't be possible. Humanity would shift to working in different ways and a fight for it's own survival, there wouldn't be a return to the old ways. Perhaps I've read between the lines somewhere?
Well, if we continue with Trump and the GOP and the dark money oligarchs in charge then the climate picture will be dire.
The Club of Rome, a group of highly intelligent global policy experts from a wide range of disciplines, back in the 1970's, created a computer simulation that showed that if we continued extracting resources from the earth at the rate we were doing it then, given population growth, all economic growth will plummet sometime after 2000.
They were not even including climate change in their model.
You can find them online at https://clubofrome.org, but you will also find, if you google them, some false conspiracy theories about them, so ignore that. After their report was published in the early 1970's it was translated into 30 languages and the environmental movement began in earnest. Today they are essentially a global think tank and many of the members are professionally tied to global policy non governmental organizations and the United Nations.