Chief
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Chief
Interesting that I didn’t hear nearly this much caterwauling when inflation was going crazy under Biden. It’s almost like y’all didn’t care when it was convenient for you.
Chief
People definitely were complaining then but tbh things seem much worse today than under Biden.
I AM one "those close to retirement" and was contemplating to start enjoying 'Sunset ere' in my life now BUT the recent events had decreased the value of my retirement investments, to date, by about 20% and still counting. The Price hikes that are going to come will be the other shoe to drop on our (I and my wife) heads shortly.
The Cherry on the top is the rampant and wild "AGEISM" openly and freely being exercised in Corporate USA, I cannot get a job in the field I excel in and if I get some it is not up to the level I presently should be at.
ACLU, AARP and other such organizations are totally useless. When I contacted them for help I was told we take 'Class Action Law suites' only.
I'm sorry to learn that. My father had a successful career as an entrepreneur and earned a lot of money. Today, at 68 years old, he doesn't even have his own house anymore, living in rent. All his investments were lost after covid-19 and the crisis that followed, and there is simply no job for him in his area anymore. The only option would be Uber, but this is quite exhausting for someone at age 68.
Unfortunately your sense of empathy is not common amongst the party in power (and people who voted for them). For them, it is a sin.
That sounds... full of empathy for the 100 million people you just dropped a 'most of' on.
Possible... those people are likely to have as much empathy as their peers. Like yourself.
If they voted Trump, they're getting what they voted for. Reserve your concern for those who didn't vote for this.
D1: True, a lot of people who didn't choose this mess are getting damaged. Unfortunately, until the balance of political power shifts, we can only mitigate the loss. Our system of government, separation of power and such, is designed to be self-correcting. It can continue to be so, unless it's being run by power-grabbers who don't respect the process. Once that system is damaged, we don't get it back.
And that, Guidehouse, is what I worry about, not whether MAGA voters pay more for their groceries.
Well said
Rising Star
I am sorry OP, you shouldnt worry - millions knowingly voted for an obvious criminal, incompetent charlatan who cried from the rooftops about his plans. These people let misinformation and emotions rile them up. I felt sorry for them the first time, not anymore. America deserves this.
Don't hate the people. Hate the capitalists on power who have all the means to fool all those people. We have to take care of each other.
Come back when all these price hikes actually occur.
Rising Star
!remindme 6 months
Chief
As a recent retiree, I am more concerned with inflation than the value of my investments as I haven't needed to take any withdrawals yet. However, inflation could force me to withdraw before the markets turn around.
Well the fun part of the tariffs war is that we’ll get both: tanking of our 401k value and inflation!
Chief
Don’t feel bad, it’s the majority of those people who voted for trump. I can spend $10 a dozen on eggs and will be fine, who knows about the redneck trumpeters tho
I turned 64 this year. In for a wild ride. Maybe I will move in with my kids…
Rising Star
“10-20% rice hike” —> plz show data on this
Yea no you’re just trying to be dramatic for your own sake and no one else
Chief
Eggs were $2 a dozen one year ago. Now they are $10 a dozen. Boom 500% price hike.
Chief
They will get cost of living adjustments. That's how it works.
Chief
So you've just basically ignored 40 years of raises lagging cost of labor (not cost of living, since salaries are raised based on cost of labor not living)?
Many of them voted for this so maybe karma
Chief
You are absolutely right. I remember one of client said he is pushing his retirement when 2008 market crash happened. If this continues and results in recession then this is a terrible situation for people who were planning to retire this year or earlier next year.
If you feel sorry for all these people, start questioning if capitalism is really making us any good. It's f*cking insane how few people have so much while there is no job for everyone and salaries are so low for those who have it (all because investors can not lose their profit)
Chief
Capitalism needs checks and regulations to prevent greed from consuming it. Those checks and regulations have been degraded significantly over the last 40 years. The consolidation of IB's and commercial banks being the most egregiously dangerous, which opened up the path to this:
"In 2002, thirty years after the Nixon Shock, humanity’s total income approximated $50 trillion. In the same year, financiers around the world had wagered $70 trillion on a variety of bets. I remember your eyes popping out when you heard this outrageous number. Like most people, you refused to wrap your mind around it. Used to thinking of money in terms of things that made sense, like tons of steel or the number of hospitals it could build, you could not see how Earth was large enough to contain that $70 trillion number. By 2007, humanity’s total income had risen from $50 to $75 trillion – a decent 33 per cent increase over five years. But the sum of bets in the global money market had gone up from $70 to $750 trillion – a rise in excess of 1000 per cent. That’s when I lost you. Or, more accurately, it is when we agreed that the numbers had gone mad, an arithmetic reflection of capitalism’s hubris."
Anyone who reads the above and doesn't get very worried about the future is viewing the world differently than me. It needs to be reeled in.
Isn’t it their fault that they love paycheck to paycheck?