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Just now, $20 on joe vs dan said:

It's a crummy time to be 70+, retired, and watching your 401K tank

If you are 70 years old and have your money in the stock market, that's on you.  I have heard this story dozens of time in my 50 plus years every time there is a market decline.  

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"The World Health Organization has announced that dogs cannot contract Covid-19. Dogs previously held in quarantine can now be released. To be clear, WHO let the dogs out."

Everyone needs to extend some grace and patience with the teachers.  They were not trained for this moment.  Many of them are not technically inclined like most of us nerds on this forum.  Most have k

Let’s take a small break from this thread.  Go build a Lego set and hug a family member or pet.

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7 minutes ago, $20 on joe vs dan said:

It's a crummy time to be 70+, retired, and watching your 401K tank

Noone who is 70 and retired should have their money sitting where it takes a large tumble like the last week and today. That's Retirement 101.

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3 minutes ago, Ed Mack said:

If you are 70 years old and have your money in the stock market, that's on you.  I have heard this story dozens of time in my 50 plus years every time there is a market decline.  

it affects everyone to some extent:

when the economic environment does not favor retirement then folks defer retirement a few years or they go back to work; which means less opportunities for new workers...so college grads find it hard to find work ( boomerang kids)...I predict a glut in Uber/Lyft drivers (but w/ less folks traveling due to pandemic concerns) there is a lot less travel pie for more mouths...driving is no longer profitable and now there's more folks trying to find jobs and then a sudden spike in unemployment...A Republican President will pass a short-sighted $500 cash economy infusion  bill...

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1 minute ago, $20 on joe vs dan said:

it affects everyone to some extent:

when the economic environment does not favor retirement then folks defer retirement a few years or they go back to work; which means less opportunities for new workers...so college grads find it hard to find work ( boomerang kids)...I predict a glut in Uber/Lyft drivers (but w/ less folks traveling due to pandemic concerns) there is a lot less travel pie for more mouths...driving is no longer profitable and now there's more folks trying to find jobs and then a sudden spike in unemployment...A Republican President will pass a short-sighted $500 cash economy infusion  bill...

Sure it does.  It really sucks.  Trillions were lost in the past few weeks.  But it has happened before and will happen again.  People should not have the majority of their retirement savings in the stock market.  Period.  It will bounce back though. It always does.  Everyone is so hyper focused on the stock market and I get it., nobody likes to lose money.  Some people are making money off of fear, and those are the loudest voices on the internet.  Let's see what happens in a few months. 

I heard this morning that Chinese factories were back up to 50-75% capacity, which is way better than 30-40% from a month ago.  So the supply chain problem will correct itself.  I really don't want to make this political, but at the end of the day, it is.  It is a serious issue, but there are very few people out there telling the truth.  It's all spin.  One side says it's no big deal and the other side says it's the end of the world.  The truth is somewhere in between.  It will get worse over the next few weeks as more tests go out.  This is certain.  But once people realize there are already thousands of infected people in the US and they are not dropping dead or in hospitals, things will start to calm down.  I'm keeping my fingers crossed.

By the way...Staples has plenty of toilet paper.

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Never said it wasd the flu, said it should be treated as such and isnt any bigger of a deal.

BTW....flu deaths in the USA just passed 20k for this season yet everyone isnt freaking out about that. 

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9 minutes ago, Ed Mack said:

Sure it does.  It really sucks.  Trillions were lost in the past few weeks.  But it has happened before and will happen again.  People should not have the majority of their retirement savings in the stock market.  Period.  It will bounce back though. It always does.  Everyone is so hyper focused on the stock market and I get it., nobody likes to lose money.  Some people are making money off of fear, and those are the loudest voices on the internet.  Let's see what happens in a few months. 

I heard this morning that Chinese factories were back up to 50-75% capacity, which is way better than 30-40% from a month ago.  So the supply chain problem will correct itself.  I really don't want to make this political, but at the end of the day, it is.  It is a serious issue, but there are very few people out there telling the truth.  It's all spin.  One side says it's no big deal and the other side says it's the end of the world.  The truth is somewhere in between.  It will get worse over the next few weeks as more tests go out.  This is certain.  But once people realize there are already thousands of infected people in the US and they are not dropping dead or in hospitals, things will start to calm down.  I'm keeping my fingers crossed.

By the way...Staples has plenty of toilet paper.

The voice of rationality. Thank you.

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1 hour ago, brickolodon said:

I see LEGO sales down 70% from last month, that’s not a good sign...

Then your doing something wrong or different.   My sales are flat or slightly up.  

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4 minutes ago, elmaslıefendi said:

LEGO isn't exactly the best thing to have your money in right now. 

Some might argue against that,  me being one.  Purchasing is cheap right now and with the fear to go out either on vacation or simply shopping people are going to be buying more online and spending more time at home.......building LEGO'S.

Besides, what else would be a good investment right now?  Everything else is to volital or uncertain.

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6 minutes ago, NIevo said:

Some might argue against that,  me being one.  Purchasing is cheap right now and with the fear to go out either on vacation or simply shopping people are going to be buying more online and spending more time at home.......building LEGO'S.

Besides, what else would be a good investment right now?  Everything else is to volital or uncertain.

The problem is that a $200 set is still $200 while your dollar is heavily losing its value & gold/oil/silver etc. will gain value. It's not that LEGO becomes worthless, it's the rotten paper money that's worth nothing.

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2 minutes ago, elmaslıefendi said:

The problem is that a $200 set is still $200 while your dollar is heavily losing its value & gold/oil/silver etc. will gain value. It's not that LEGO becomes worthless, it's the rotten paper money that's worth nothing.

when I looked into gold investing (about a year ago) it looked like there's a significant transaction cost (either buying or selling)..I think 5-7%+...almost like real estate in that when the selling is good...lots of obstacles

5 minutes ago, exciter1 said:

Probably will work better than a N95

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I'm thinking of a pandemic-proof summer trip sinc eit's nearly spring time and most households w/ kids have to schedule summer camps which mean planning out the whole summer

That said...I think camping or RV-ing road trips to national parks is the best option...kinda like a moving self quarantine for the family..we control our exposures and take advantage of low gas prices

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Just like the common flu, 99,9% of the corona viruses are killed instantly by UV light, so maybe the spring will be our savior.

Some experts even say the virus will "disappear" this summer only to hit again a few months later in early September. I guess we'll have to wait and see, no one can really predict the next year. More cases & deaths and a worsening economic situation in the next month are pretty certain though.

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42 minutes ago, elmaslıefendi said:

LEGO isn't exactly the best thing to have your money in right now. 

LOL..Quite the opposite actually.  I think if schools start to close (...and some will), parents are going to be investing in any item that can keep their kids occupied.  LEGO sets are educational, fun and time consuming.

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19 minutes ago, Ed Mack said:

LOL..Quite the opposite actually.  I think if schools start to close (...and some will), parents are going to be investing in any item that can keep their kids occupied.  LEGO sets are educational, fun and time consuming.

I'm not denying that. I have to repeat myself: just saying that the money we get won't be the same if gold keeps climbing. Other than that, it's surely solid for the reason you stated.

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