Things I don't get #241

[MichealKnight]

So everyone kept printing money. Made the Masters of the World in Wall Street happy, and Club 401K just loved counting their gains and returns while pausing to shout "15 an hour! Fairness!" on social media.

Then inflation was "transitory" and "a high class problem".

Now they say inflation is their top priority , and they expect 'pain' to fight it.

So then......

The Prime Minister across the pond - CUTS TAXES.

Here at home, we give $10,000 debs reduction -to poor downtrodden people - - earning $100,000 a year.

While trying to fight inflation - 1st world governments *give* more money to people who in some cases - were doing fine without it.

I don't see how giving people money - many whom don't need it - will help inflation.

This while tomorrow's Club 401K are on college campuses, with their Smartphones and MACs, eating at their sushi bar, kvetching about get - so they can one day be part of the "everyone goes out to eat and wears Under Armor to the gym and has a puppy with vet bills" culture.

I'm sorry, but the Get off My Lawn Caucus - may not be smarter- But man, this mentality makes them look smarter.

 

[MichaelB]

Should this be in the “pet peeve” thread? Looks more like a rant …

 

[bloom2708]

And ~50% of the country thinks what you wrote about is "perfect" and ~50% of the country is appalled.

Winning the narrative with a strange playbook but losing the war. Is losing the goal?

Interesting times.

 

[MichealKnight]

Should this be in the “pet peeve” thread? Looks more like a rant …

Sorry, it can be placed wherever it's supposed to be placed. Stating bewilderment at very real macroeconomic policies by economic powers that may contradict the order of the day - fighting inflation - IMO is not a rant.

And - stating a tidbit about churning out future debt-loving citizens - which perpetuates a debt driven, consumerism on steroids economy and leads to stress and strife in all parts of society - -well - I feel its long overdue.

But alas, I won't rant. But from here on out - I applaud and laugh. Encore, encore.

 

[MichealKnight]

Consensus

And ~50% of the country thinks what you wrote about is "perfect" and ~50% of the country is appalled.

Winning the narrative with a strange playbook but losing the war. Is losing the goal?

Interesting times.

That problem is real - it would need a national dialogue amongst grownups within politics, corporate, arts, entertainment, and academia and cultural gatekeepers to solve - and its easily solvable.

But - well - polarization can be fun also - just look around. Not my place to rant about it.

 

[Car-Guy]

I'd love to add my 2 cents, but best that I don't.

 

[Dtail]

Should this be in the “pet peeve” thread? Looks more like a rant …

Perhaps a white vs. blue collar rant with a slight political undertone.

 

[copyright1997reloaded]

Should this be in the “pet peeve” thread? Looks more like a rant …

Can we set one up like the rona area so that we can have a bunch of threads on it and not just one "pet peeve" thread?

 

[Gumby]

There are plenty of things going on in the world that I think are wrong, but I always ask myself two questions -- Does it affect me directly? and Can I do anything to change it? The answer is almost always "No" to one or both questions. And if that's the case, then ranting is a waste of my words, my time and my blood pressure.

 

[bloom2708]

There are plenty of things going on in the world that I think are wrong, but I always ask myself two questions -- Does it affect me directly? and Can I do anything to change it? The answer is almost always "No" to one or both questions. And if that's the case, then ranting is a waste of my words, my time and my blood pressure.

Gas and heating costs and your 401k dropping tend to affect most people, so that does work in many scenarios, but fails the "does it affect me directly" test for me.

 

[Irishgirlyc58]

You have to look at the entire situation and not just the ones that aren’t in your favor.
It’s always easy to pick on people who are finally gaining ground in a system that is tilted against them.
It’s not always easy to look at a system that has favored you at the expense of others.

In 2022 $100,000 isn’t exactly wealthy. [emoji849]

 

[jimbee]

Did I accidentally log in to nextdoor.com?

 

[Car-Guy]

In 2022 $100,000 isn’t exactly wealthy. [emoji849]

Seems like 10 years ago it was something to make 100k/yr. Wonder what it will be like in 10 more years? (heck maybe just 3 or 4 years the way things are going.)

If the markets don't start to recover and/or inflation doesn't start coming down pretty soon, there are going to be a lot folks that thought they were "sort of wealthy" that are going to be feeling real pain, like so many already do.

 

[marko]

In 2022 $100,000 isn’t exactly wealthy.

With the Dow dropping 300+ points every day it soon will be. (which is exactly the idea behind it all). Six months from now: rising unemployment and people worried about losing their jobs, which again, is the whole point of it all.

I think OP's point is that we seem to be hitting the gas and the brakes at the same time.

 

[Irishgirlyc58]

With the Dow dropping 300+ points every day it soon will be. (which is exactly the idea behind it all). Next up: rising unemployment and people worried about losing their jobs, which again, is the whole point of it all.

I think OP's point is that we seem to be hitting the gas and the brakes at the same time.

Or we are modifying the direction from a wealthy group to the non wealthy people.

 

[marko]

Here's my worry:
What happens in x months when everyone who decided to sit on the employment sidelines, finally max out the credit cards that they've been living on.

"At that point, I'll go back to work". Really?

By then, we may be in a heavy recession where jobs are nowhere to be found.

Then what? Instead of a lifeboat that CC's can be, they've already sunk that boat.

 

[Sojourner]

I'd love to add my 2 cents, but best that I don't.

+1

I've observed that threads like this typically devolve fairly quickly into ideological bickering that never ends well.

 

[aja8888]

In 2022 $100,000 isn’t exactly wealthy. [emoji849]

Wait, let me ask the next 20 people I see in my routine travels today what they think about making $100 K per year. I'll report back tomorrow.

(I'm on my way to Walmart now to do the grocery shopping).

 

[Irishgirlyc58]

Here's my worry:
What happens in x months when everyone who decided to sit on the employment sidelines, finally max out the credit cards that they've been living on.

"At that point, I'll go back to work". Really?

By then, we may be in a heavy recession where jobs are nowhere to be found.

Then what? Instead of a lifeboat that CC's can be, they've already sunk that boat.

I worry about that too.
It’s an interesting dynamic.
I’m just not convinced jobs are as available as let’s just say “the man (or woman) says that they are.

 

[Irishgirlyc58]

Wait, let me ask the next 20 people I see in my routine travels today what they think about making $100 K per year. I'll report back tomorrow.

(I'm on my way to Walmart now to do the grocery shopping).

Ha! It’s definitely all relative.
And I’m certainly not saying $100,000 is poverty. But neither is it wealthy.

 

[W2R]

I'd love to add my 2 cents, but best that I don't.

+2

 

[ncbill]

Just when the party gets started the Fed takes away the punchbowl.

Though in the most case, that punchbowl was heavily spiked. )

 

[38Chevy454]

It will take a lot of replies each giving our $.02 to make $100,000

$100,000 / $.02 = 5,000,000 replies needed!

With my reply we're up to $.46

 

[RetMD21]

I am not a huge fan of the program but Wharton estimates that 75-80% of the benefit goes to those in the 1-3 quintiles of income https://budgetmodel.wharton.upenn.e...als earning less,to $20,000 in debt reduction.

 

[Spock]

You have to look at the entire situation and not just the ones that aren’t in your favor.
It’s always easy to pick on people who are finally gaining ground in a system that is tilted against them.
It’s not always easy to look at a system that has favored you at the expense of others.

In 2022 $100,000 isn’t exactly wealthy. [emoji849]

Maybe 100K isn't enough in San Francisco, but from my comfortable annual spend rate of 33K perspective, 100k is exorbitant.