stock market

[PandaBear]

70% of our American economy is consumer spending, so all these stimulus checks helps keeps the wheels rolling, rolling, rolling.....






.

Yeah, I'm legit disgusted with what's happening with the money being stolen from me and given away.

So, let's see what happen during this last year:

1) People stopped eating out at restaurants, people stop taking vacations, people stopped buying cars (because of production shortage), people stopped paying rents.

2) People go unemployed, businesses closed down, local government got into big debt.

3) Landlords and banks are going into the red because tenants and borrowers go into the red.

So what does this all mean together? You are disgusted because money is not wasted by others then earned by you and then they are subsidized by others to be paid to you. You can say it is money being stolen by you, or you are just making money off others' wastefulness. You can call it whatever you want but you cannot deny the fact that the wastefulness is what drives your economy and income indirectly. What we have seen is the trickle down economy stopped trickling down.

You cannot have it both ways: you cannot just expect everyone to "work hard and make money" and then "stopped being wasteful and save everything". You will end up with Japan, which is lost decades (with an s because it has been 20 years now), people work to their death, not getting rich, young people gave up and just become low desire low spending hermit hiding at home. Come to think of it they have been doing our pandemic thing for 20 years now. Maybe you would be happy living in Japan, I certainly won't.

Next time when you make your $1 maybe you should give thanks to the wasteful idiots who borrow the $10 so you can get the $1 they trickle down to you instead.

 

[PandaBear]

I dont think the vast majority of the wealthy retire early. Retirement is overrated if you have a passion for what you do and the people who have that passion are the wealthy.

Many likely don't choose to retire.

Most people I know retire because the industry they work in decimated, their skills are not transferrable to other industries, or they get into health problems and have to retire.

"FIRE" is really about preparing yourself just in case this happen, and makes you feel secure, because now you have the "**** you" money and can decide to leave if you have to.

 

[Ws6]

So, let's see what happen during this last year:

1) People stopped eating out at restaurants, people stop taking vacations, people stopped buying cars (because of production shortage), people stopped paying rents. *Some people

2) People go unemployed, businesses closed down, local government got into big debt.
How terrible to be unemployed. I know people who got laid off who then made more than me, while layed up on the sofa buying a bunch of junk off Amazon. Small business owners did get royally screwed. But you know what? Charity at gunpoint is still theft. The businesses I frequented? I paid them just the same even though they were closed and I could NOT go to them, because I valued them and wanted them around. Noone made me do that. I did it. Me. THAT is charity. Anything else is just theft.
3) Landlords and banks are going into the red because tenants and borrowers go into the red.
This is true. Landlords always get screwed, it seems, which is why I will never rent. I'll either keep it or sell it. Banks? Banks have shafted enough people that I could absolutely 100% care less. Now it's their turn to take it.
So what does this all mean together? You are disgusted because money is not wasted by others then earned by you and then they are subsidized by others to be paid to you. You can say it is money being stolen by you, or you are just making money off others' wastefulness. You can call it whatever you want but you cannot deny the fact that the wastefulness is what drives your economy and income indirectly. What we have seen is the trickle down economy stopped trickling down. My income has nothing to do with people's spending habits. It does, however, have to do with the economy. And those people can/should be working and paying for things just like the rest of us who are so generously being robbed from to support their sloth. The government is to blame for preventing that, by and large.

You cannot have it both ways: you cannot just expect everyone to "work hard and make money" and then "stopped being wasteful and save everything". You will end up with Japan, which is lost decades (with an s because it has been 20 years now), people work to their death, not getting rich, young people gave up and just become low desire low spending hermit hiding at home. Come to think of it they have been doing our pandemic thing for 20 years now. Maybe you would be happy living in Japan, I certainly won't. I never once said people should "save everything/stop being wasteful". You're talking to a guy who just blew $5K on a night vision setup to shoot skunks with, lol! Far be it from me to get after others for buying random stuff. I just don't want to pay for it. They didn't pay for my PVS14 and TW helmet and Norotos mount, eh? So why should I pay for their jollies?

Next time when you make your $1 maybe you should give thanks to the wasteful idiots who borrow the $10 so you can get the $1 they trickle down to you instead.

I guess if I worked in retail or had some little fluff job that doesn't actually matter to society's function, I'd agree with you. I don't...and I don't. If people want to spend the $10, they should work for it and become either credit-worthy for the loan of the money, or they should work and earn the money. Either way. But taking it from me with the wild excuse that I can now receive trickel-down? BAHAHAHA! Dude. Why don't you just let me mug you. I'll give you 1/10th of the take, yeah? Absolutely wild. That's literally what you suggested to me, and that I should be GRATEFUL for it.

 

[jonlandrum]

My 401(k) has made 56% over the last year, so I'm not complaining ¯\_(ツ)_/¯

 

[PandaBear]

I guess if I worked in retail or had some little fluff job that doesn't actually matter to society's function, I'd agree with you. I don't...and I don't. If people want to spend the $10, they should work for it and become either credit-worthy for the loan of the money, or they should work and earn the money. Either way. But taking it from me with the wild excuse that I can now receive trickel-down? BAHAHAHA! Dude. Why don't you just let me mug you. I'll give you 1/10th of the take, yeah? Absolutely wild. That's literally what you suggested to me, and that I should be GRATEFUL for it.

So I take it that you are not a supporter of trickle down economy? Great. Your company stock goes up last year, no? Your wealth goes up because people robbing you are buying stocks in your company. Anyways, it doesn't matter if you like it or not, we are all on a sinking ship robbing each others, so be nice.

 

[JeffKeryk]

Many likely don't choose to retire.

Most people I know retire because the industry they work in decimated, their skills are not transferrable to other industries

This is a big deal in Silicon Valley, as I'm sure you know. Technologies change constantly and rapidly. I have seen so many (the majority, perhaps) get too comfortable and then find themselves stagnant 10 years later. And in some cases, these are some pretty gifted people.

 

[JeffKeryk]

I find that people who are like that typically had meaningful jobs that were respectable. THAT is an awesome thing!

In my case, I spent many years of my life as a practicing alcoholic. I know the other side of life.
Out of desperation, I cut back and then joined AA after my 3rd drunk driving conviction at 33.
Because I lived in Silicon Valley with it's promise of cheap education and unlimited opportunity, things got better.

I would like to say that all work is honorable. Some pays a whole lot better, though.
Plus, I worked a whole lot harder as a tree trimmer vs a computer programmer. Came home cleaner too.
Of course, for a long time I did not have a home to come home to, so there's that.
All good.

 

[Dave Hess]

Quote:
You will end up with Japan, which is lost decades (with an s because it has been 20 years now), people work to their death, not getting rich, young people gave up and just become low desire low spending hermit hiding at home.


PandaBear,

I was watching a YouTube video the other day about young Japanese adults turning into hermits because they didn’t find successful careers and now have given up on life. They avoid all contact with the outside world and refuse to socialize with others. I do know the Japanese culture is very competitive and some can’t handle the reality of not being successful. Suicide is very high for such an advanced country.

Here in America it’s perfectly OK to be an unemployed loser living in their parent’s basement playing video games all day. The bum mentality is encouraged because stress and anxiety is taboo for young adults here in the USA.

 

[Wolf359]

I guess if I worked in retail or had some little fluff job that doesn't actually matter to society's function, I'd agree with you. I don't...and I don't. If people want to spend the $10, they should work for it and become either credit-worthy for the loan of the money, or they should work and earn the money. Either way. But taking it from me with the wild excuse that I can now receive trickel-down? BAHAHAHA! Dude. Why don't you just let me mug you. I'll give you 1/10th of the take, yeah? Absolutely wild. That's literally what you suggested to me, and that I should be GRATEFUL for it.

I like all this moaning and groaning about the stimulus. Strange how there wasn't one when there was a big tax cut but the effect on the budget and debt was the same. It's basically whining because while it will have to be paid for eventually, it hasn't been decided yet. You basically haven't been mugged yet and it's not clear you will be mugged, but you're going on and on as if it has already happened.

 

[PandaBear]

I like all this moaning and groaning about the stimulus. Strange how there wasn't one when there was a big tax cut but the effect on the budget and debt was the same. It's basically whining because while it will have to be paid for eventually, it hasn't been decided yet. You basically haven't been mugged yet and it's not clear you will be mugged, but you're going on and on as if it has already happened.

I'd try not to get too political about this and avoid the "who is stealing from who" part of the debate, because the definition of who is a nobody and who is someone paying for the tab depends, and the definition of stealing can also be debated.

Regarding to "little fluff jobs", that's the job that made you the toilet paper you wipe your bottom on, and when they cannot make enough fluffy stuff during the shutdown for people to wipe their bottoms they behave like Karen, you know, the ones who want to see the managers.

 

[JeffKeryk]

I like all this moaning and groaning about the stimulus. Strange how there wasn't one when there was a big tax cut but the effect on the budget and debt was the same.

I am not sure the effect was the same. One made the rich richer and the other just might help a lotta people (and generate a lotta tax revenue).

 

[PimTac]

I guess if I worked in retail or had some little fluff job that doesn't actually matter to society's function, I'd agree with you. I don't...and I don't. If people want to spend the $10, they should work for it and become either credit-worthy for the loan of the money, or they should work and earn the money. Either way. But taking it from me with the wild excuse that I can now receive trickel-down? BAHAHAHA! Dude. Why don't you just let me mug you. I'll give you 1/10th of the take, yeah? Absolutely wild. That's literally what you suggested to me, and that I should be GRATEFUL for it.

Every job is important. Don’t belittle retail workers or other jobs you think don’t matter much to “society’s function”. They all matter.

 

[PimTac]

Many people think they get a stimulus every spring when the IRS sends them a big refund back.

Do you get big tax refunds from the IRS?
Shame on you.

 

[Wolf359]

I am not sure the effect was the same. One made the rich richer and the other just might help a lotta people (and generate a lotta tax revenue).

Well I believe the tax cut was about 1.5 trillion and the last package passed was 1.9 trillion although there were a couple other ones before the last one so the amounts are close. Now the victim mentality is taking over but I suppose they could just reverse the tax cuts to pay for the last package, then they wouldn't be victims. They're claiming to be victims before there are even any victims.

 

[Ws6]

Every job is important. Don’t belittle retail workers or other jobs you think don’t matter much to “society’s function”. They all matter.

Yes, they DO all matter, but the world wouldn't end if Target closed, for example. Every productive person is a boon to society, but some are necessary, and some are convenient. They are all a positive on the scale though.

 

[Ws6]

Many people think they get a stimulus every spring when the IRS sends them a big refund back.

Do you get big tax refunds from the IRS?
Shame on you.

No. I get nothing from the IRS. I paid them $2200 this last month, above and beyond what they steal from my wages.

 

[Dave Hess]

Hopefully with the reopening later this year, most folks will get back to a semi normal life.

I work in healthcare and I’m on telephone conference calls with hospitals administration and hear inside information not heard on your TV news....


.

 

[Ws6]

I'd try not to get too political about this and avoid the "who is stealing from who" part of the debate, because the definition of who is a nobody and who is someone paying for the tab depends, and the definition of stealing can also be debated.

Regarding to "little fluff jobs", that's the job that made you the toilet paper you wipe your bottom on, and when they cannot make enough fluffy stuff during the shutdown for people to wipe their bottoms they behave like Karen, you know, the ones who want to see the managers.

Manufacturing is NOT a "fluff job".

I pay thousands of dollars per year in taxes. Taxes that are then paid as income to people who arent productive at all. At the end of the year/before april 15, I cut a check for more taxes. No mental gymnastics are required to understand who is working and who is sponging.

 

[wpod]

Problem is that I’m not sure any financial planners really have a better crystal ball than anyone else.

To me, the question is if one believes the data and analyses that indicate that “sitting out” the best #n days results in an outcome that is %x worse than if you just stayed in. The data seems to indicate that trying to time or beat the market doesn’t really produce better outcomes. My interpretation from OP is that’s kind of the intent.

Selling winners/losers in a smart strategy based upon their cyclic behavior and secular trends, especially to rebalance/rebaseline based upon age and risk is a different story. I agree that a good advisor can potentially help there.

Financial planners know stuff But if they were really supermen they wouldn't need to be financial planners.

 

[Ws6]

Hopefully with the reopening later this year, most folks will get back to a semi normal life.

I work in healthcare and I’m on telephone conference calls with hospitals administration and hear inside information not heard on your TV news....


.

I have doubts.
Italy is hitting another surge. I doubt the US is far behind, and all the hospitals have trimmed staff, legislators have denigrated healthcare workers, and people are jumping ship left and right. It's going to get spicy if we have surge 2.0