It all has to do with oil and Biden shutting it down!
The stock market has been down big almost every day in the last three weeks. Unless you are an active trader who shorts the market (I am) – then your IRA has lost 20% if its valve. That’s to say if it was worth $50,000 three weeks ago it’s worth $40,000 today and you lost $10,000 value in the last three weeks. Check your account.
The reason of this is mainly because we are no longer energy independent and depend on Russia for a large part of our oil. That obviously is in question and now oil has gone from $20 barrel during Trump – to $95 barrel (and rising every day) now. The stock market investors are panicking.
Additionally, the $40,000 you have left won’t buy what $30,000 did two years ago because of inflation. The main reason for inflation is oil. Gas doubling is just the tip of the iceberg. Everything is touched by the oil prices skyrocketing. Electric power (even for your electric car) is generated by oil. Everything is transported on planes, trains and trucks – and they’re powered by oil. Whether your stuff comes in a blue Amazon van or you go to the store for it – its cost was increased because of getting it from the factory to you. All of those factories need a lot of power for the machinery, heat/ac and the lights. Oil touches everything and we sit on enough of it to last us over 100 years with the current methods of extraction. America processes that oil less expensively, more efficiently, and cleaner than any country in the world – but Biden is having us buy from our enemies at a much higher price, financing our destruction.
The other reason for inflation is the carpet bombing of money onto moochers under the excuse of Covid – changing the dynamic of more demand (to spend that money on) vs. Supply – which is down because no one wants to work. Those who voted for Biden are 100% responsible for this destruction or our economy and your retirement fund.