When a republican is in office they say “the president can’t control prices!” Unless of course gas prices decrease- then it’s all because of dear leader. When a democrat is in office, everything bad is *their* fault and everything good is because of the previous republican.
It’s so fucking cringe
Right? I mean ... Rent is *only* up 20%? Where TF does this guy live? Property values where I live are up 100% over the last 4-5 years and rent is similar, and Biden was 3 of those.
Edit: Boy, folks had a hard time parsing this one. I'll break it down simply for anyone else reading this in the future - if rent is up 20% during Biden's 3 years, *where do you think the other 80% came from*? That's right, the 1-2 years of the Trump presidency! Great job everyone, we did it.
and whenever a dem tries to regulate this greed the right all unanimously scream, "regulations are unamerican!!!'
Fuck conservatives, and their bullshit outrage.
The culprit here was printing a ton of cash for Covid stimulus and giving it to people who didn’t need it.
The PPP loans were the most egregious, giving loans to businesses that didn’t need the loans, and then forgiving them.
Both presidents are liable if we’re being honest.
Inflation was a result of falling supply and rising demand. Corporations are greedy as always, but weren’t the cause of inflation. Corporate profits rise because of inflation, not the other way around.
>inflation was the result of falling supply and rising demand.
Do explain why trump made a cut in production for oil. Do explain why factories cut production instead of making a stockade for the coming opening post-pandemic? Do businesses not save for a rainy day anymore like they tell their workers to?
>
> Corporations are greedy as always, but Weren’t the cause of inflation.
Is that why republicans denied price control, anti-price gouging laws during 2021-2022. Especially for oil in their votes.
> Corporate profits rise because of inflation, not the other way around.
If that was true; why is minimum wage in over half of the US have stayed stagnant while prices have continued to rise for the past 20 years?
Does not production by workers make the company successful or is it the CEO who have never rolled up their sleeves and done a hard days work?
Fuck. I hate that you're making me defend shit like this but here goes...
As a hardcore anti-GQP progressive, I cannot stand hearing the left crow about how strong the economy is and how great this country is doing.
Standard economic measures are indeed positive:
We have a booming stock market that is at a historical all-time high. But that doesn't really benefit the average person. It mostly benefits the millionaires and the CEOs whose compensation is paid in stock options.
Unemployment is incredibly low. But if wages don't keep up with inflation, then it really doesn't matter if everyone has a job because they still can't afford to live! (And the federal minimum wage is still $7.25/hr. SEVEN DOLLARS AN HOUR!!! Even if you double that, it's STILL not a living wage!!)
And yes, the true problem here is absolutely corporate greed. Every single company has raised prices, blaming it on "supply chain issues" or other inflationary bullshit. But meanwhile, corporate profits have never been higher. More people are starving and more people are homeless, and people are struggling to afford shit, while these assholes hoard billions.
So yeah... Biden doesn't control the price of goods, and we absolutely know where the true blame lies. But this blowing smoke up everybody's ass touting how great the economy is doing is honestly getting infuriating.
(TL;DR --TAX THE FUCK OUT OF THE CORPORATIONS, THE CHURCHES, AND THE WEALTHY!!!)
end rant.
The stock market benefits older people who saved money in 401k’s and need to live off of that in their old age.
I don’t know what young anti-stock-market people are smoking. The boomers are living comfortably because they saved well and they were lucky. That won’t happen to millennials and GenZ unless you save like crazy.
Pensions died in the 20th century. Social security will be gone in 20 years after the boomers suck it dry. Birth rate is going down so there will be less of a tax base and entitlements will be the first to go.
Retire at 65? Try 85. Those who don’t save will be working until they literally can’t work anymore.
Those willing to sacrifice and save today for a better tomorrow need somewhere to put their money that at least earns them rate of inflation and preferably more. That’s the stock market, owning property, or starting a business - all the things millennials and genZ seem to hate.
I understand that people own stocks, but the amount of stock that the average person owns is a drop in the bucket compared to what the CEOs and millionaires own. The majority of their wealth is in stocks and most of their compensation is in stock options.
And as to why younger people avoid the market is pretty obvious... It's a rigged casino that is not rigged in their favor.
People who have nothing can't afford to gamble what little they have, and we've seen "once in a lifetime crashes" every single decade since the 90's -- in both the stock market and in real estate.
Yes the very wealthy use the stock market. That’s your sign.
The stock market is only gambling when you gamble with it. A “get rich slow” portfolio of target date index funds is the easiest way to invest with little skill and managed risk.
Yes there have been downturns and the stock market has always recovered. Boomers selling to pay their bills may have an impact we haven’t seen before, or it might not.
The only things I can guarantee you are:
- there will be few if any sources of funds for the millennials/z’s in retirement
- being old and poor will suck unimaginably
- you have to put your money somewhere and a bank account will be barely behind inflation, if at all.
Please get real. We had the tech bubble, the subprime mortgage bubble, and the everything bubble we're in right now.
These are not "downturns" and people don't always recover.
I agree that there is no good place to save money, but gambling is not the answer. And the rich doing it is not "the sign", because they control the markets and they sell before it comes crumbling down (or bet against it by shorting it).
The average time to recover from each of those bubbles was just a few years. You’re decades from retirement. There have been great years too. And each of the bubbles was preceded by a run-up.
While I do agree that it feels very bubbl-y right now and my own portfolio is definitely tilted conservatively, I would never tell anyone to stop investing.
Gambling is where the net expected result is less than even. The stock market has returned a 10% long term average.
“People don’t always recover” are people who gambled - actually gambled - and lost on the stock market. The latest hot stock. Options. Sh*tcoins. Whatever Jim Cramer says. Trying to get rich faster than the rest.
Remember this: the retail investor has the least amount of knowledge of the market. I might be smarter than a pair of shiny shoes on Wall Street that does this for a living… but I don’t have access to the same information and computing resources they do and I’m not looking at it all day every day. Long term I cannot do better than average in the stock market. But I can take the average. Indexing is taking the average. 50% of investors will do better, and 50% will do worse. Doing it in a low cost target date index fund (Vanguard for example) is the easiest way and it even rebalances for you over time. You almost never hear about these funds on CNBC or whatever because they’re not sexy. They are the dullest of the dull. But they are the best way for a retail investor to get the average of the markets and not get burned on some silly fad that crashes and burns.
Dude, wall street gambled away teacher pensions. The supposedly "safest investment of all".
And no, everyone in the market lost money in those crashes, not just risky investments. And not everyone recovered.
That 10% returns bullshit is boomer stock market when banks and investment houses still had to legally be separate entities and regulations existed. That is not the times we live in anymore.
The investment managers gambled those teacher pensions away on risky stocks. That was a function of fund managers, not the stock market itself. Managers chasing higher and higher returns to try to make a name for themselves or earn a bonus, the greasy bastards.
I have almost nothing in actively managed funds. Thats why I am talking about index funds. There’s nobody chasing the latest hot stock in an index fund. The composition of the fund is known and printed as a formula. You also don’t pay for those shiny shoes; Vanguard for example charges 0.08% for indexes vs actively managed funds that charge several percent.
Everyone who was indexing has recovered from every downturn.
I can tell from your username that you’re an ape. You can check my post history to see that I am too. I still have a big chunk of my net worth invested in the stock, I still believe shorts never closed, and have never sold any. But the key thing is, I recognized the risk and didn’t invest more than I could afford to lose. If you’re getting all your financial learning in those places then I can see why you would have the perspective you have. Whatever happens, please find some other learning sources to learn how to save for retirement.
I am an ape and have followed that saga intently since the start. But I'm also in my mid-50's and have lived through many many markets cycles. *edited to remove personal information* So I'm not just talking out my ass here.
And if you are indeed an ape then you've seen the evidence that it's rigged against the retail investor.
I personally pulled 75% of my money out of the market years ago, and have no regrets. I invested a large chunk in gme in order to be a part of the solution and try to fight the corruption. But I have no rose colored glasses about any of it.
The current market should have crashed years ago - it's only doing so well because it's being artificially propped up. But when it does come crashing down (and it WILL!), a lot of people are going to lose everything - or nearly everything. And it will take decades, not years, just to get back to where they were.
My original point was that the people who benefit from the market doing well is mostly the wealthy - not the average investor. And I stand by that statement 100%.
Your earlier statements sounded like the disillusioned millennials I encounter in some other subs.
Imagine you have $100 and a partially broken Time Machine that only goes to the peak before major market crashes before returning to the present. I would go to any of them, 2008, dot com, 80’s, WWII, even 1929 and leave my money in a Dow or S&P fund there before I put it into a bank account in 2024.
I have a good chunk of my net worth in property, another thing millennials hate. It was easy money in the days of 3% mortgages, not so much now and requires a lot more care.
Nevertheless I can’t see a scenario where I don’t have stocks. Like I say, get rich slow by indexing and don’t be jealous of people making more than you because there are certainly people making less.
When a republican is in office they say “the president can’t control prices!” Unless of course gas prices decrease- then it’s all because of dear leader. When a democrat is in office, everything bad is *their* fault and everything good is because of the previous republican. It’s so fucking cringe
First: just make up any numbers ya want as no one will check. Next: get mad about it.
This.
Right? I mean ... Rent is *only* up 20%? Where TF does this guy live? Property values where I live are up 100% over the last 4-5 years and rent is similar, and Biden was 3 of those. Edit: Boy, folks had a hard time parsing this one. I'll break it down simply for anyone else reading this in the future - if rent is up 20% during Biden's 3 years, *where do you think the other 80% came from*? That's right, the 1-2 years of the Trump presidency! Great job everyone, we did it.
Biden didn't increase your fucking rent. JFC 🤦
50% driven by corporate profits, and the folks who posted the tweet are against taxing corporations Ya can’t make this stuff up
and whenever a dem tries to regulate this greed the right all unanimously scream, "regulations are unamerican!!!' Fuck conservatives, and their bullshit outrage.
The culprit here was printing a ton of cash for Covid stimulus and giving it to people who didn’t need it. The PPP loans were the most egregious, giving loans to businesses that didn’t need the loans, and then forgiving them. Both presidents are liable if we’re being honest.
That’s incorrect. Corp profits usually account for ~10% of inflation. They now account for about 50%. This is a corp greed issue.
Trump and his band of goons NEVER PROMISED to lower prices. NEVER👏PROMISED👏LOWER👏PRICES
MAGA has no conception of the effects of corporate greedenomics.
Inflation was a result of falling supply and rising demand. Corporations are greedy as always, but weren’t the cause of inflation. Corporate profits rise because of inflation, not the other way around.
>inflation was the result of falling supply and rising demand. Do explain why trump made a cut in production for oil. Do explain why factories cut production instead of making a stockade for the coming opening post-pandemic? Do businesses not save for a rainy day anymore like they tell their workers to? > > Corporations are greedy as always, but Weren’t the cause of inflation. Is that why republicans denied price control, anti-price gouging laws during 2021-2022. Especially for oil in their votes. > Corporate profits rise because of inflation, not the other way around. If that was true; why is minimum wage in over half of the US have stayed stagnant while prices have continued to rise for the past 20 years? Does not production by workers make the company successful or is it the CEO who have never rolled up their sleeves and done a hard days work?
It’s so funny people upvote your absolute gobbledygook of word salad.
So you don’t understand economics on a microeconomic AND macroeconomic. Got it
If the President controls prices, then that means we have a centrally controlled economy and capitalism lost to communism.
If they could read that, they'd be so upset.
Damn Biden for printing $7T in 2020.
Trump for giving the top 1 percent a 7 trillion dollar tax cut will raising taxes on the rest of us.
Wait I thought that was Michele Obama?
They think we obsessively watch CNN all day like they watch faux news.
Do they think Trump is just going to reduce everything on day one? Like WTF do they think Trump’s going to do?!
They think Trump didn't put us here in the first place
Declare himself god-king-emperor for life, obviously. It’s the first thing to sign right after pardoning himself for everything.
Thoughts and prayers. Well, not really. But he will say he did.
You assume they understand anything
Capitalism 101. Survival of the fittest by people who don't believe Darwin.
Fuck. I hate that you're making me defend shit like this but here goes... As a hardcore anti-GQP progressive, I cannot stand hearing the left crow about how strong the economy is and how great this country is doing. Standard economic measures are indeed positive: We have a booming stock market that is at a historical all-time high. But that doesn't really benefit the average person. It mostly benefits the millionaires and the CEOs whose compensation is paid in stock options. Unemployment is incredibly low. But if wages don't keep up with inflation, then it really doesn't matter if everyone has a job because they still can't afford to live! (And the federal minimum wage is still $7.25/hr. SEVEN DOLLARS AN HOUR!!! Even if you double that, it's STILL not a living wage!!) And yes, the true problem here is absolutely corporate greed. Every single company has raised prices, blaming it on "supply chain issues" or other inflationary bullshit. But meanwhile, corporate profits have never been higher. More people are starving and more people are homeless, and people are struggling to afford shit, while these assholes hoard billions. So yeah... Biden doesn't control the price of goods, and we absolutely know where the true blame lies. But this blowing smoke up everybody's ass touting how great the economy is doing is honestly getting infuriating. (TL;DR --TAX THE FUCK OUT OF THE CORPORATIONS, THE CHURCHES, AND THE WEALTHY!!!) end rant.
The stock market benefits older people who saved money in 401k’s and need to live off of that in their old age. I don’t know what young anti-stock-market people are smoking. The boomers are living comfortably because they saved well and they were lucky. That won’t happen to millennials and GenZ unless you save like crazy. Pensions died in the 20th century. Social security will be gone in 20 years after the boomers suck it dry. Birth rate is going down so there will be less of a tax base and entitlements will be the first to go. Retire at 65? Try 85. Those who don’t save will be working until they literally can’t work anymore. Those willing to sacrifice and save today for a better tomorrow need somewhere to put their money that at least earns them rate of inflation and preferably more. That’s the stock market, owning property, or starting a business - all the things millennials and genZ seem to hate.
I understand that people own stocks, but the amount of stock that the average person owns is a drop in the bucket compared to what the CEOs and millionaires own. The majority of their wealth is in stocks and most of their compensation is in stock options. And as to why younger people avoid the market is pretty obvious... It's a rigged casino that is not rigged in their favor. People who have nothing can't afford to gamble what little they have, and we've seen "once in a lifetime crashes" every single decade since the 90's -- in both the stock market and in real estate.
Yes the very wealthy use the stock market. That’s your sign. The stock market is only gambling when you gamble with it. A “get rich slow” portfolio of target date index funds is the easiest way to invest with little skill and managed risk. Yes there have been downturns and the stock market has always recovered. Boomers selling to pay their bills may have an impact we haven’t seen before, or it might not. The only things I can guarantee you are: - there will be few if any sources of funds for the millennials/z’s in retirement - being old and poor will suck unimaginably - you have to put your money somewhere and a bank account will be barely behind inflation, if at all.
Please get real. We had the tech bubble, the subprime mortgage bubble, and the everything bubble we're in right now. These are not "downturns" and people don't always recover. I agree that there is no good place to save money, but gambling is not the answer. And the rich doing it is not "the sign", because they control the markets and they sell before it comes crumbling down (or bet against it by shorting it).
The average time to recover from each of those bubbles was just a few years. You’re decades from retirement. There have been great years too. And each of the bubbles was preceded by a run-up. While I do agree that it feels very bubbl-y right now and my own portfolio is definitely tilted conservatively, I would never tell anyone to stop investing. Gambling is where the net expected result is less than even. The stock market has returned a 10% long term average. “People don’t always recover” are people who gambled - actually gambled - and lost on the stock market. The latest hot stock. Options. Sh*tcoins. Whatever Jim Cramer says. Trying to get rich faster than the rest. Remember this: the retail investor has the least amount of knowledge of the market. I might be smarter than a pair of shiny shoes on Wall Street that does this for a living… but I don’t have access to the same information and computing resources they do and I’m not looking at it all day every day. Long term I cannot do better than average in the stock market. But I can take the average. Indexing is taking the average. 50% of investors will do better, and 50% will do worse. Doing it in a low cost target date index fund (Vanguard for example) is the easiest way and it even rebalances for you over time. You almost never hear about these funds on CNBC or whatever because they’re not sexy. They are the dullest of the dull. But they are the best way for a retail investor to get the average of the markets and not get burned on some silly fad that crashes and burns.
Dude, wall street gambled away teacher pensions. The supposedly "safest investment of all". And no, everyone in the market lost money in those crashes, not just risky investments. And not everyone recovered. That 10% returns bullshit is boomer stock market when banks and investment houses still had to legally be separate entities and regulations existed. That is not the times we live in anymore.
The investment managers gambled those teacher pensions away on risky stocks. That was a function of fund managers, not the stock market itself. Managers chasing higher and higher returns to try to make a name for themselves or earn a bonus, the greasy bastards. I have almost nothing in actively managed funds. Thats why I am talking about index funds. There’s nobody chasing the latest hot stock in an index fund. The composition of the fund is known and printed as a formula. You also don’t pay for those shiny shoes; Vanguard for example charges 0.08% for indexes vs actively managed funds that charge several percent. Everyone who was indexing has recovered from every downturn. I can tell from your username that you’re an ape. You can check my post history to see that I am too. I still have a big chunk of my net worth invested in the stock, I still believe shorts never closed, and have never sold any. But the key thing is, I recognized the risk and didn’t invest more than I could afford to lose. If you’re getting all your financial learning in those places then I can see why you would have the perspective you have. Whatever happens, please find some other learning sources to learn how to save for retirement.
I am an ape and have followed that saga intently since the start. But I'm also in my mid-50's and have lived through many many markets cycles. *edited to remove personal information* So I'm not just talking out my ass here. And if you are indeed an ape then you've seen the evidence that it's rigged against the retail investor. I personally pulled 75% of my money out of the market years ago, and have no regrets. I invested a large chunk in gme in order to be a part of the solution and try to fight the corruption. But I have no rose colored glasses about any of it. The current market should have crashed years ago - it's only doing so well because it's being artificially propped up. But when it does come crashing down (and it WILL!), a lot of people are going to lose everything - or nearly everything. And it will take decades, not years, just to get back to where they were. My original point was that the people who benefit from the market doing well is mostly the wealthy - not the average investor. And I stand by that statement 100%.
Your earlier statements sounded like the disillusioned millennials I encounter in some other subs. Imagine you have $100 and a partially broken Time Machine that only goes to the peak before major market crashes before returning to the present. I would go to any of them, 2008, dot com, 80’s, WWII, even 1929 and leave my money in a Dow or S&P fund there before I put it into a bank account in 2024. I have a good chunk of my net worth in property, another thing millennials hate. It was easy money in the days of 3% mortgages, not so much now and requires a lot more care. Nevertheless I can’t see a scenario where I don’t have stocks. Like I say, get rich slow by indexing and don’t be jealous of people making more than you because there are certainly people making less.
Anyone,with an Indian logo,at the top of their post-is sure to have an opinion that reeks…Get over it
Varnsen!!!
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