A new idea for the lemmings

bdgan

Well-Known Member
May 29, 2008
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The rich are getting poorer with these stock market declines. I'm sure you're happy about that. The problem is that all of the government pension plans are taking a hit and capital gains taxes will decline. Do you think we need another rate hike on the rich to recover the pension and tax revenue loss?

  • The rich take a big hit - good!
  • The average guy takes a hit in his 401K and other savings - too bad but such is life.
  • Government pensions take a hit - Unacceptable! Tax the billionaires (> $200k) to replenish the pensions and the lost tax revenues from capital gains. After all, the rich have to keep paying even if they're losing, right?

What do you guys say? Is this your plan?
 

NJPSU

Well-Known Member
May 29, 2001
44,101
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Or we could just put Dems back in control of Congress and pair them with a Dem President.
 
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m.knox

Well-Known Member
Gold Member
Aug 20, 2003
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The rich are getting poorer with these stock market declines. I'm sure you're happy about that. The problem is that all of the government pension plans are taking a hit and capital gains taxes will decline. Do you think we need another rate hike on the rich to recover the pension and tax revenue loss?

  • The rich take a big hit - good!
  • The average guy takes a hit in his 401K and other savings - too bad but such is life.
  • Government pensions take a hit - Unacceptable! Tax the billionaires (> $200k) to replenish the pensions and the lost tax revenues from capital gains. After all, the rich have to keep paying even if they're losing, right?

What do you guys say? Is this your plan?

NJ is a tool.
 

NJPSU

Well-Known Member
May 29, 2001
44,101
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Meh....if you are years away from retirement and maxing out your 401k this sell off is probably a good thing long term. My bi weekly 401k purchase went in today. I'm not sweating it.
 

bdgan

Well-Known Member
May 29, 2008
61,183
37,637
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Meh....if you are years away from retirement and maxing out your 401k this sell off is probably a good thing long term. My bi weekly 401k purchase went in today. I'm not sweating it.
Nice dodge lemming.
 

NJPSU

Well-Known Member
May 29, 2001
44,101
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You're saying that aftet taxing the rich some more Obama also wants to break their kneecaps?

Shouldn't you be asking what Trump and the GOP congress is going to do about this problem?
 

psuted

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Gold Member
Nov 26, 2010
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You need to watch the movie called "The Cooler".

It's not surprising to note that you watch and are greatly influenced by too many twisted movies with an underlying political agenda. You also get your news from comics, carnival people selling snake oil, and other emotionally naive and misguided people.

Unfortunately, I actually feel for misguided souls like you that view things thru a cloudy lens of confusion, deception, and naivety. I'm sure that's why you always try to redefine reality and live in a bazar fantasy world. It's ironic that you often refer to others living in a bubble.
 

We_Are

Well-Known Member
May 29, 2001
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After 7+ years...it turns out the guy that was going to get the car out of the ditch, doesn't have a driver's license...you could not "F'd" up a recovery any more than this if you tried (actually if he a tried we'd probably be better off...)
 

NJPSU

Well-Known Member
May 29, 2001
44,101
15,483
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It's not surprising to note that you watch and are greatly influenced by too many twisted movies with an underlying political agenda. You also get your news from comics, carnival people selling snake oil, and other emotionally naive and misguided people.

Unfortunately, I actually feel for misguided souls like you that view things thru a cloudy lens of confusion, deception, and naivety. I'm sure that's why you always try to redefine reality and live in a bazar fantasy world. It's ironic that you often refer to others living in a bubble.

Underlying political agenda? You obviously have never seen "The Cooler".
 

NJPSU

Well-Known Member
May 29, 2001
44,101
15,483
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After 7+ years...it turns out the guy that was going to get the car out of the ditch, doesn't have a driver's license...you could not "F'd" up a recovery any more than this if you tried (actually if he a tried we'd probably be better off...)

Ha! The S&P 500 bottomed at 666 after the Bush collapse. It's almost triple that level even after this GOP congress sell off.
 

m.knox

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Gold Member
Aug 20, 2003
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Meh....if you are years away from retirement and maxing out your 401k this sell off is probably a good thing long term. My bi weekly 401k purchase went in today. I'm not sweating it.

Actually, now may be good time to increase your contribution. I'll never get the people who stop contributing all together in a downturn.
 

m.knox

Well-Known Member
Gold Member
Aug 20, 2003
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After 7+ years...it turns out the guy that was going to get the car out of the ditch, doesn't have a driver's license...you could not "F'd" up a recovery any more than this if you tried (actually if he a tried we'd probably be better off...)

Not only that, but it is clear that many only remember your final term. If the stock market tanks (continues to tank), it will certainly be Obama's. There should be no argument.
 

psuted

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Nov 26, 2010
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Shouldn't you be asking what Trump and the GOP congress is going to do about this problem?

I can easily answer that question. It's called Chaos and uncertainty are their friends, and they have unlimited running room to make up whatever "end of the world" horror stories that can be conceived.

Unfortunately, there is not a whole lot they can do other than to win the next election and we can rid ourselves of the progressive nightmare that helped to create this mess in the first place. I'm talking about ridding ourselves of all Progressive policies, reduce the size of government, and work to install a sense of certainty, credibility, stability, and real leadership by the US.

The fact is that a "perfect storm" was largely created over the past 8 years by Obama and Progressive policies that have been slowly but surly driving our economy into a big ditch and the sh*t is now hitting the fan as a result. It's not just the liberal Democrats either but is also the "progressive" Replublicans that are responsible as well. That's why people at all levels are so frustrated and don't know where to turn.

Bottom line, there has been great uncertainty created in the US and the world and that has been driven largely by bad and incompetent economic and foreign policy.

With the sequester lifted in 2015 the size of the Federal government grew and spending as a function of GDP grew slightly but enough to take money out of the private sector and trended government spending in the wrong direction. The recent rate hike by the Fed was a small factor. The Arab Spring turned into the Islamic winter and the Middle East is on fire and there is no telling what will happen or how we will be affected. China is in trouble as every "central panning" society always is and the former Chief Economist of the World Bank who argued that China was a model to be followed by the US has some explaining to do. Russia has been emboldened by a weak and pathetic US President and are aligned with Iran against US backed Saudi Arabia and Turkey. Energy prices are really a two-way street, with winners and losers. Falling prices help consumers and energy-using companies, but hurt drillers and ancillary support activities.
 
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Catch50

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Feb 5, 2003
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Not only that, but it is clear that many only remember your final term. If the stock market tanks (continues to tank), it will certainly be Obama's. There should be no argument.

Only the really truly dumb ignore the Republican HOR for the last 5 years.
 

katchthis

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Sep 3, 2004
22,361
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Meh....if you are years away from retirement and maxing out your 401k this sell off is probably a good thing long term. My bi weekly 401k purchase went in today. I'm not sweating it.
Damn, finally a good statement from NJ .
 
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Sullivan

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Nov 24, 2001
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Ha! The S&P 500 bottomed at 666 after the Bush collapse. It's almost triple that level even after this GOP congress sell off.

Large U.S. companies using cheap foreign workers in foreign factories, and selling the goods to the expanding Asian markets is suddenly good?
 

indynittany

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Feb 21, 2005
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Large U.S. companies using cheap foreign workers in foreign factories, and selling the goods to the expanding Asian markets is suddenly good?

I would add that a not insignificant amount of the stock levitation we've experienced has to do with the share repurchase programs being employed by many of the S&P companies, who I argue all want to join the Too Big To Fail club. If you look at the $ spent to repurchase shares and the the money those same companies borrowed at artificially suppressed interest rates, you will find that they are nearly identical.

What's going to happen if the global recession lingers and, as currently promised by Janet Yellen, the fed raises rates 3-4 more times? Profits will vanish and these companies will have trouble servicing their debt.

My instincts tell me we'll have negative interest rates in this country before too long and it won't matter who gets elected POTUS.
 
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SFNit

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Oct 7, 2008
6,312
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My instincts tell me we'll have negative interest rates in this country before too long and it won't matter who gets elected POTUS
.[/QUOTE]

I have the same feeling. Possibly the return to QE then negative rates.....no way will they raise rates given how weak the US and foreign economies are....we're teetering on recession now and raising rates because they've achieved some artificial employment number (which I think is bogus anyhow) would be like the Fed tightening in 1937.....a huge mistake.....
 

m.knox

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Gold Member
Aug 20, 2003
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My instincts tell me we'll have negative interest rates in this country before too long and it won't matter who gets elected POTUS.

I have the same feeling. Possibly the return to QE then negative rates.....no way will they raise rates given how weak the US and foreign economies are....we're teetering on recession now and raising rates because they've achieved some artificial employment number (which I think is bogus anyhow) would be like the Fed tightening in 1937.....a huge mistake.....[/QUOTE]

Can't wait to see the advertisement for a 2 year CD for -2.15%..........
 

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