Varney: Check your 401(k), you might get a surprise

Varney: Check your 401(k), you might get a surprise


STUART: YES, IT IS THE END OF THE MONTH. CHECK YOUR 401(k). YOU MIGHT GET A SURPRISE. REMEMBER, ALL YOU’VE HEARD ABOUT IS THE THREAT OF RECESSION, HYPED UP BY A MEDIA THAT WANTS A DOWNTURN SO THE PRESIDENT LOSES IN 2020. YOU HAVE BEEN BORED TO TEARS BY THE INVERTED YIELD CURVE. THAT’S SOMETHING ELSE THE MEDIA JUMPED ON EVEN THOUGH MOST OF THE COMMENTATORS HAVEN’T GOT A CLUE WHAT IT’S ALL ABOUT. AND YOU HAVE BEEN ALARMED OF COURSE BY THE TRADE WAR WITH CHINA, WHICH WAS SURELY GOING TO HURT US BADLY. THE SURPRISE IS THAT YOUR 401(k) HAS WEATHERED THE STORM, JUST LIKE THE STOCK MARKET HAS WEATHERED THE STORM. AS OF NOW, WE’RE JUST A COUPLE OF PERCENTAGE POINTS AWAY FROM AN ALL-TIME RECORD HIGH FOR THE DOW INDUSTRIALS. WE ARE 11 YEARS INTO THIS STOCK MARKET RALLY. I HAVE BEEN DOING THIS FOR 40 YEARS. I HAVE NEVER SEEN SUCH A SUSTAINED MOVE UP. THERE ARE SEVERAL REASONS FOR IT. FIRST, IT’S THE STRENGTH OF OUR ECONOMY. IT REALLY IS AN OUTSTANDING PERFORMER. WE STILL HAVE STRONG GROWTH. EUROPE AND JAPAN DO NOT. I DON’T WANT TO DIGRESS. THE NEWS CAME TODAY THAT ITALY’S UNEMPLOYMENT RATE HAD MOVED UP TO 9.9%. GERMANY IS INDEED SLIDING INTO RECESSION. I’M JUST SAYING. THEN THERE’S THE WORLD TURNED UPSIDE DOWN. NOT HERE, OVER THERE. WE PAY INTEREST. THEY DON’T. IMAGINE THAT. OVER THERE, YOU LEND MONEY AND YOU GET NO INTEREST AND YOU DON’T EVEN GET ALL YOUR MONEY BACK. NO WONDER MONEY POURS IN HERE. AND SOME OF THAT MONEY FINDS ITS WAY INTO OUR STOCK MARKET, INTO YOUR 401(k). HERE’S ANOTHER FEAR THAT JUST HAS NOT MATERIALIZED. THE THREAT TO OUR ECONOMY FROM CHINA TRADE TARIFFS. REMEMBER THE WARNINGS, OH, PRICES WILL RISE, CONSUMERS WILL BE HURT. HASN’T WORKED OUT THAT WAY. INFLATION HAS NOT TICKED UP. IN FACT, THIS LABOR DAY WEEKEND, WE WILL BE PAYING THE LOWEST GAS PRICES IN THREE YEARS. HAVE YOU EVER SEEN THE EVENING NEWS LEAD WITH A STORY ABOUT AMERICA’S ECONOMIC STRENGTH? NO, YOU HAVEN’T. IT’S ALWAYS ABOUT WEAKNESS. IT WON’T CHANGE. THE LEFT HATES HIM AND WILL DISTORT OUR ECONOMIC PERFORMANCE IN THE HOPE THAT OUR PRESIDENT LOSES NEXT YEAR. IGNORE IT. THEY HAVE LOST THEIR CREDIBILITY.

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About the Author: Oren Garnes

44 Comments

  1. Recession? hahha……For a year and a half….I have been hearing tariff "CROAKINGS OF DOOM"….Things have never been better price wise by me.

    SO…..let's talk the TRUTH……

    1. The Chinese are Feeling IT…since they are ABSORBING tariffs… by LOWERING the PRICE of their goods .

    and

    2. American companies CAN AFFORD the tariffs not absorbed by the chinese….WHY?….They had a MAJOR TAX REDUCTION 2 years ago.

    Proof?….STEADY under 2% inflation despite wage increases required during… FULL employment.

  2. 401(k) surprise.
    Cuts are ❎ marked.
    Europe & Italy suffering unemployment. Italy is part of Europe.
    Left peeishing souls and carrying away the rights as well. Immorals.

  3. If the US news media told me the sky was blue, I would go outside and look for myself. Every time the stock market "crashed", for the past several years, it rebounded like a rubber ball a few days later EVERY SINGLE TIME! I believe nothing the progressive press has to say about money. The people of the left know absolutely nothing about how to make money. That's why they have to steal their wealth. They certainly can't generate any themselves.

  4. The nominal gains matter most when you cash out, not when we experience a small rally. The Dow has been virtually unchallenged for almost 2 years.

  5. The Hedge Fund Billionaires are holding hostage the economic system that substituted speculation for traditional savings. Similar to the Mobsters holding the pensions of the labor unions (an arrangement dependent on corruption and intimidation of the leaders of the labor unions), the institutional managers of pension funds are controlled by the Hedge Fund Billionaires, who seem to have mysterious means of enforcement to go along with their "mysterious algorithms" and their"magic boxes" that the SEC cannot or will not explain, especially related to the "Flash Crash 2010" warning of what these "genius hedge fund managers" can do with their power that is "too big" to expose! How Hedge Fund Manager Jeffrey Epstein's talents were a part of the "enforcement" could be a blockbuster movie!

  6. If Italy KEEP kicking REFUGEES OUT OF ITALY
    Probably THEY WILL MONEY on EXPENSES,
    Bet TOURISM improve
    GET YOUR BOOKS IN CHECK
    INCOME/EXPENSES

  7. Hahahahahahaha! Stuart Varney…you are delusional in saying that Trump has never lied. I sat in as an advisor on a potential deal with him in the 1980's & ALL he did was lie about EVERYTHING. That is why the deal fell through! It was one of the most ridiculous things that I have ever experienced in my entire life! Downright frightening that he is the Chief Executive of our nation. We all came away from the meeting with him with these two conclusions- The dumbest businessman that we had ever encountered & a chronic liar! I would not trust this man to mow my lawn…he was also the crudest and most unprofessional businessman that I have ever encountered still right up until this day. The woman who called me in as an advisor called him, " A crude, rude, egotistical & misogynistic moron! " I do not understand this blind allegiance to this man. he has destroyed the integrity of The Republican Party & Conservativism in this country perhaps for good & he is a horrible leader & President. Y'all have lost your freakin' minds!

  8. If economy is doing so good when why did jobless claims projected from 4,000 went up 215,000. Tariffs which are basically taxes on US businesses and eventually consumers. Was a big Trump supporter but not anymore! You can’t support a man that takes money and food away from your family. You guys are all brainwashed!

  9. Most people's 401k is in CLOs, not equities. CLOs are performing well, right now, but good luck selling them if the market turns sour.

  10. The thing about a market crash is, like a car crash, it comes quickly & and you cant escape. The economy is always booming……….until its not. The yield curve inversion is a warning sign. CEO's expressing concern tariffs will hurt growth is a warning sign. Stock market volatility is a warning sign. The desperate need to cut rates is a warning sign. Ignore them at your own peril.

  11. Trump is right if the Democrats win the stock market will crash. Investor confidence has a lot to do with the rising stock market does anybody with any Sense have confidence in the Democrats

  12. Wow, this nonsense is being aired on a Business Channel? All business owners who think this pundit makes sense should make it public so that people can buy put option on those companies 😂.

  13. complete malarkey, facts do support this bozos claims. . . Typical garbage from this Tabloid Channel   Its time that this network the FIX-Is-In gets legally recognized as a terrorist organization.      Facts Matter !

  14. Why are you still alive? For every defense of this ORANGE POS you should suffer a cardiac arrest…the less like you ,the better the planet!

  15. The Democrats want the country to fail. Cloward and Piven stuff. I think the Democrat party is about finished. maybe the new Socialist party will rise.

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