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jennys_mn
Veteran Advisor

The Trumped Up Economy

 

All I heard on here 4 years ago, was the stock market wasn’t the economy.   Bitch and bitch and bitch about it.

Oh, how different it is now.   Now, we have millions - MILLIONS of people unemployed, bread lines across this country, people begging for food, people losing their houses and living in tents or on the streets, businesses closing their doors for good.  

While at the same time, we have stock PE Ratios off the charts, Fed that thinks infusion of trillions of dollars into the stock market is a wise investment, and a president, that thinks that Capital Gains from the stock market need to be lowered even more.  

How many farmers give a damn about the stock market?  When I farmed, I didn’t have money to put in the stock market - extra money - all of it - went back into the farm.  

How many Americans actually have stock?  Any stock?   And how has it changed, that the stock market, is the economy?   You guys are fools.   You even have to support Trump’s theory, that this “fake” stock market, is the economy.  This market will crash - that is inevitable.   And all of America, will get to pay for it - not just those, invested in it....

Republicans can’t win an election, without lying.......

Jen

11 Replies
jennys_mn
Veteran Advisor

Re: The Trumped Up Economy

 

Then I see this headline, as I logged in:

Farm income to hit 7-year high, thanks to record-setting federal aid

 

Bitch, Bitch, Bitch about socialism....but I guess socialism going to the RIGHT people, isn't socialism, is it?

Republicans can't win an election, without lying....

Jen

sam1wiseone
Senior Contributor

Re: The Trumped Up Economy

Most Americans have stock. 401ks, retirement plans, life insurance, etc.

sdholloway56
Senior Advisor

Re: The Trumped Up Economy

The Fed got rolled, not that I'm concerned that Jerry Powell will ultimately reside in infamy along with Benjamin Strong.

But here's what happened- objectively. Both the extreme fiscal and monetary responses were warranted, assuming a parallel Federal public health effort.

Lacking the latter, it is just an enormous, hugely destructive mess.

 

jennys_mn
Veteran Advisor

Re: The Trumped Up Economy


@sam1wiseone wrote:

Most Americans have stock. 401ks, retirement plans, life insurance, etc.


I never, ever thought that tying a persons financial future, especially retirement future to something like the stock market, was real wise.   I still don’t.   Yes, over time, the stock market should increase.   Unless, you’re one of the unlucky ones, that has the stack market crash at or near retirement, and it takes 29 years to rebound to where it was.

People think the stock market is a “guarantee”.   That if I put money in there all my life, it will be there when I need, or want it.  Sure - sure it will be.   I’ve heard this kind of crap all my life.   The last time was with my job as an Air Traffic Controller.   It was hard to get the old guys out of the break room, to pull their stint at the scope.  They always took the first break offered, and if anything was said about it, we would be told, “When you’re close to retirement, you’ll get to do it too.”  Sure - my last years at the scope, were the hardest I had to work my entire career.   You’ll get it too - sure.  Sure you will - you’ll get it, all right. 

I had to pay in the teens for interest my entire life.  Now, that I’m retired, I basically have to pay the bank, if I have money in a savings account.  And people bitch, about a having to pay 3% for a 30 year mortgage.  Yeah - you’ll get it too.......

Republicans can’t win an election, without lying.......

Jen

roarintiger1
Honored Advisor

Re: The Trumped Up Economy

“I had to pay in the teens for interest my entire life.”

Haha, good one.

jennys_mn
Veteran Advisor

Re: The Trumped Up Economy

I guess you never had to pay interest rates in the teens then.

From the time I got out of high school in 74, until fairly recently, when I didn’t need the money any more from the bank, interest rates were high.  They were closer to the teens, than they are to the zero to three percent they are now.   

When I bought my first farm, I saw the interest my grandfather paid on his farm from the 1940’s - like 2 1/2 percent from the FmHA, and always thought, “If that’s all I had to pay in interest, I could probably make my payments”.   Which I couldn’t, and ultimately went broke.

People didn’t need to invest in the stock market for some return on their money.   They could simply put it in the bank, and make a good return, with no risk.  Now - not so much....

Republicans can’t win an election, without lying.......

Jen

roarintiger1
Honored Advisor

Re: The Trumped Up Economy

While I totally understand your point, interest rates in the teens were only around in the early eighties. 
And yes, I was borrowing money back then.

If your interest rates were that high for your entire life, you’ve been borrowing money from the wrong places. Otherwise, it’s just a lie. 

The stock market isn’t the only game in town for investing money. It’s just one of many measures of a good economy.

jennys_mn
Veteran Advisor

Re: The Trumped Up Economy

The stock market wasn’t a proper barometer for the economy at the 2016 election, was it?   Or maybe you have forgotten the talk on here, about how the stock market wasn’t the economy.  Where is that talk now?  What has changed?  Only one metric that I can see - Trump - and his Trumped up economy.....

Republicans can’t win an election, without lying......

Jen

bruce MN
Advisor

Re: The Trumped Up Economy

It’s obviously not important as the fact that it doubled over a few short years under a recent administration would show. The administration declared by the MAGA cult to be the worst ever...responsible for aI of this stuff that they are fomenting.