***Official Political Discussion Thread***

[Belgium]

I checked my investment fund and I'm only down around €2k from yesterday so that's nothing.
During the Trump admin I lost 20k despite my investment profile being set to defensive. During the Biden administration my outlook was looking green and I recovered the 20k back to my initial deposit, minus the 2k loss today.

If you're worried, go talk to your bank manager, read what impartial economists are saying/doing, ... instead of just relying on politicians likely vastly overstating the issue or minimizing it depending on their leanings.

 

[mplsdunk]

If you’re scared you shouldn’t be investing. If you’re not a broke boi you should be buying. It’s not that complicated. None of us are retiring soon so use it to come up.

My industry is slow af though. Interest rates are killing everything.

 

[trappedintime]

This isn’t about stocks. It’s about unemployment and underemployment. It’s about piss poor consumer spending. The market taking a hit isn’t about correcting overvalued companies, it’s about hunkering down for a recession

 

[mplsdunk]

Oh I know, I’m just talking to the people acting like stocks are the economy.

Fire j Powell before he makes people suffer even more

 

[ShoeGod1423]

They are gonna be pissed tomorrow when it pops green.. after hours trading already going green most likely carry into pre trading tomorrow. This was a blip on the radar Republicans had to jump on because none of the other issues they've been talking bout have been working.

 

[daruma]

Maybe I’m out of touch but I can’t see the point of watching other people play video games. Except for like strategy help.

it's like watching basketball players or football players in their leagues

 

[elpablo21]

Seems like Walz got the juice out here

 

[rexanglorum]

If you’re scared you shouldn’t be investing. If you’re not a broke boi you should be buying. It’s not that complicated. None of us are retiring soon so use it to come up.

My industry is slow af though. Interest rates are killing everything.

I wish we could abolish 401ks and other savings vehicles that are individualized and cause people to obsess over the daily fluctuations of the DOW.

Bring back defined benefit pensions but that are attached to the individual. Increase payroll tax on wages above like 40k-50k and use those contributions to create the sort of retirement fund that firefighters have now.

Wages below that threshold would have would be exempt from the higher tax but the government is making contributions on your behalf but the worker and employer don’t have to pay anything.

Have a similar structure for self employed people but raise the income threshold but impose higher rates of self employment tax for higher earning self employed people. The money would go into the same fund that employees use.

 

[jape]

Kids today are mostly glued to their phones. These streamers have a bigger influence than some parents.

do you have kids? wild statement to make

 

[mplsdunk]

I wish we could abolish 401ks and other savings vehicles that are individualized and cause people to obsess over the daily fluctuations of the DOW.

Bring back defined benefit pensions but that are attached to the individual. Increase payroll tax on wages above like 40k-50k and use those contributions to create the sort of retirement fund that firefighters have now.

Wages below that threshold would have would be exempt from the higher tax but the government is making contributions on your behalf but the worker and employer don’t have to pay anything.

Have a similar structure for self employed people but raise the income threshold but impose higher rates of self employment tax for higher earning self employed people. The money would go into the same fund that employees use.

inflation is driven my corporate greed for the most part so put a windfall tax up again.

And yeah 401k was a great scam to get away from pensions.

You gotta organize and be militant about it, I’m just a regular dude working for my friends dad but I still get a pension because we fight for it.

People need to stop waiting for a government to work for them, it would be nice if it did but don’t hold your breath. Kidnap your boss and start a union.

 

[biggie62]

Most people don’t make enough to actually save enough in their 401ks. It takes a decent income to be able to live life and be able to max it out. Especially with children.

 

[trappedintime]

Oh I know, I’m just talking to the people acting like stocks are the economy.

Fire j Powell before he makes people suffer even more

Isn’t it too late? He missed it on both ends, he’ll be out of a job in January regardless of who is president.

 

[biggie62]

Powell has done a fine job at the fed. Y’all need to chill out thinking that you can predict everything spot on. The fed is always reactionary never the first mover. We don’t want a repeat of the 70s so I give him props and the rest of the fed chairs for staying the course. If we end up with a recession now as a result it’s not the fault of the US but the rest of the world for now recovering the way we have here.

 

[trappedintime]

Powell has done a fine job at the fed. Y’all need to chill out thinking that you can predict everything spot on. The fed is always reactionary never the first mover. We don’t want a repeat of the 70s so I give him props and the rest of the fed chairs for staying the course. If we end up with a recession now as a result it’s not the fault of the US but the rest of the world for now recovering the way we have here.

Recovering better has been framed in the context of GDP. Do we have to go through all his completely dumb statements about transitory inflation? He got it wrong. He moved too late to address it and braked too hard after it came down and we’ll hit a low level recession that’s really been going on for awhile when you dig into corporate activity, especially around hiring.

How do you look at those job numbers and think a soft landing is imminent a week ago, only to have to do an emergency rate cut next month to avoid wall st decapitating him? He knows he got it wrong too. Nothing about that is what I’d call “a fine job”. And on top of that his mistake on inflation to begin with gave corporate America the in they wanted to permanently raise prices on household goods.

 

[biggie62]

Recovering better has been framed in the context of GDP. Do we have to go through all his completely dumb statements about transitory inflation? He got it wrong. He moved too late to address it and braked too hard after it came down and we’ll hit a low level recession that’s really been going on for awhile when you dig into corporate activity, especially around hiring.

How do you look at those job numbers and think a soft landing is imminent a week ago, only to have to do an emergency rate cut next month to avoid wall st decapitating him? He knows he got it wrong too. Nothing about that is what I’d call “a fine job”. And on top of that his mistake on inflation to begin with gave corporate America the in they wanted to permanently raise prices on household goods.

Can you name me one time when a soft landing occurred? And can you confirm or deny that it’s easy to accomplish or how many times it has actually occurred?


I love all you so called economists who think that projecting everything is easy everything is easy in retrospect.

 

[frink85]

it's like watching basketball players or football players in their leagues

real life sports I get, competitive gaming like EVO I get too, but like kids watching another kid run around Minecraft realms? or any other single player game for that matter.

 

[Nike Jordan]

 

[Betonblck]

Powell has done a fine job at the fed. Y’all need to chill out thinking that you can predict everything spot on. The fed is always reactionary never the first mover. We don’t want a repeat of the 70s so I give him props and the rest of the fed chairs for staying the course. If we end up with a recession now as a result it’s not the fault of the US but the rest of the world for now recovering the way we have here.

He has been better than Alan Greenspan. That's about it. Greenspan was awful.

Not as good as Ben Bernanke.

This is not the 1970s. The 1970s were 50 years ago, things are a lot different now between technology, energy, etc.

Unemployment is rising and hiring is slowing. Using interest rates to influence the economy is like turning the Titanic. You don't wait until the iceberg is right up on you to try to change course.

 

[trappedintime]

Can you name me one time when a soft landing occurred? And can you confirm or deny that it’s easy to accomplish or how many times it has actually occurred?


I love all you so called economists who think that projecting everything is easy everything is easy in retrospect.

65, 84, probably 2020 if Covid hadn’t happened. Only 1990 and 08 didn’t land soft in the past 44 years.

No one said it was an easy job, but even a dumbass could see this wasn’t transitory inflation and he missed it entirely. Defending that guy as a great fed chair is a fool’s errand.

 

[mplsdunk]

Look at housing and why it’s so expensive. Interest is just making it worse. The dude is a dumbass just hurting people even more.

Housing stopped being built because his dumb *** keeps interest high. Builders are literally laying off everyone and saying we aren’t building in this economy.

 

[Betonblck]

One thing I agree with the Fed Chair is about inflation being transitory. A lot of the demand was pent up ("we outside now") demand from the pandemic that people need to blow through, then once it was spent things would go back to normal. We also had supply shortages and backlogs that needed time to clear up and for manufacturing to catch up.

Edit: Maybe transitory isn't the right word for it but the people that had extra money to spend from working from home and refinancing homes needed to spend that money and that was going to drive inflation.

Now you have a double whammy that will likely throw the economy into a recession - high interest rates and people cutting back after blowing through the pandemic money.

One more thing - can anyone really say that any of the Feds actions really slowed inflation? The inflation was going to slow down on its own once manufacturing inventories caught up and people spent thr pandemic money

 

[trappedintime]

Look at housing and why it’s so expensive. Interest is just making it worse. The dude is a dumbass just hurting people even more.

Housing stopped being built because his dumb *** keeps interest high. Builders are literally laying off everyone and saying we aren’t building in this economy.

To that end, construction spending has risen 44% since 2020 but construction employment has gone up by a lousy 2.2%. Only six states have seen construction employment increase since 2020 (mostly red: AZ, ID, MT, NV, TN, UT)

 

[trappedintime]

Now you have a double whammy that will likely throw the economy into a recession - high interest rates and people cutting back after blowing through the pandemic money.

The pandemic money is a bit of a misnomer too. It’s 2024, we’re 3 years out from that whopping $1400 of aid. Most of the pandemic money being discussed was actually the wealthiest 5% of Americans being able to slash their personal budgets by 20-30% that year, not to mention the lack of travel. Wages for the type of consumer who was getting govt checks during covid still haven’t caught up to inflation. We look at these aggregate models showing wages catching up, but they don’t break down for who. So it’s really like the floor falling out from underneath the lowest quartile of earners.

And I strongly disagree with the transitory nature of this inflation run, especially since that doesn’t address the unchecked price increases large corporations put in place under the guise of inflation but are now permanent.

 

[Cashflow]

 

[RustyShackleford]

Reading the economics discussion on this page is making my head hurt

Y'all have fun though