MONDAY, SEPTEMBER 12, 2016

He Might Actually Tell You How Your IRA’s Doing

Whistleblower Senior Business Editor Merrill Forbes says if you didn’t like what happened to your retirement account on Friday (when stocks were clobbered when Wall Street ended Friday with its worst selloff since the Brexit decision in late June as worries peaked over when the Fed would next tighten monetary policy.

Meanwhile at The Whistleblower Newswire, we were busy trying to figure out what words we needed to use to describe the Friday’s Falloff.

Was this a “Collapse,” a “Crash,” or just a “Decline?”

Was the Market in a “Decrease, was it “Descending,” or was this dip in a real “Dive?”

Should we call it a “Drop,” a “Fall,” or was it a real “Nose Dive?”

Could be we say it’s a “Plunge,” is it “Sinking,” “Skidding,” or is all of this just a “Temporary Tumble?” 

Then Merrill Forbes finally returned our call to tell us about the Friday’s Fallout.

“Whatever you do, don’t ‘Panic,’ ” he said. “It’s only a “Plummet!”

While this might seem to be a problem only for the investor class, if you happen to have money invested in a retirement account or happen to be drawing a pension, you likely have some skin in the game. Here’s what the markets looked like this morning shortly after 11 AM when the Dow was up 56.77.

 “Actually, Forbes explained, “the same thing happened In December.” The market reacted in a similar way when the Fed hiked rates a quarter point last December. Stocks sold off deeply before recovering in February. Since that recovery, the Dow Jones Industrial Average, S&P 500, and NASDAQ have all reach new highs.

Speaking on CNBC early Monday, GOP Presidential candidate Donald Trump accused the Fed of “creating a false stock market” with its low interest rate policy. Trump also suggested there would not be a rate hike before the election, accusing the Fed of being influenced by politics.

We haven’t heard what Hillary might say about Friday’s Stock Market. She’s been sick, or haven’t you heard?