dow jones

[bbsam]

What I'm blaming the Biden administration for is inflation unlike anything else in 40 years. Yes he was responsible for stoking it. Plenty of liberal economists will tell you so. A major reason people are in bad shape financially is trying to pay their credit card bills while everything is shooting up in price.

That's the problem. What are we going to do about it?

By the way for those who like to say Trump ran up the debt too, which he did, look at where both were/are at three years into their presidency. Biden has incurred $6 trillion in debt so far, Trump was a little over $3 trillion at this point. Where Trump got nailed was $4 trillion in new debt fighting the pandemic in his 4th year.

Capitalism isn't broken. There certainly isn't a system out there that will outperform it. Mismanagement is certainly a problem.

The rich get richer and the poor get poorer. It’s nothing new. Capitalism is broken and has been for a long, long time.

I suppose you could say capitalism works exactly how they want it to work, but that’s a bit darker and and more cynical. Possibly more true.

 

[bbsam]

Already proven that Trump's cuts increased Federal revenue. We don't have a revenue problem, we have a spending problem. And back when inflation was 2% we were spending around $300-$350 billion to service the debt. Due to raising rates and increasing debt we're now spending $900 billion. There's your extra money right there. Soon to be a trillion plus a year just servicing the debt. Did the geniuses in this administration take this into account because liberal economists like Larry Summers were warning that this was exactly what would happen. And now liberals are trying to find ways to blame it all on Trump. I remember when they came in they said the adults were back in charge. Not very adult like to blame your failures on someone else. And yes Trump does that too. We get the government we deserve because we won't elect a fiscal conservative and endure any economic pain that will come from righting the ship. Damn the torpedoes, full speed ahead!

Trump and the republicans had the government. All of it. Tax cuts are easy for them. They preach it constantly. They do it constantly. But they refuse to cut spending. They want the democrats to do the dirty work for them.

But really, who are we kidding? Republicans don’t want to cut spending.

Except for maybe Kim Reynolds.

 

[vantexan]

Trump and the republicans had the government. All of it. Tax cuts are easy for them. They preach it constantly. They do it constantly. But they refuse to cut spending. They want the democrats to do the dirty work for them.

But really, who are we kidding? Republicans don’t want to cut spending.

Except for maybe Kim Reynolds.

I can say it until I'm blue in the face. Trump had to cut a deal with Democrats to get the military spending he wanted. Too many Republicans balked at the kind of spending he wanted.

As I pointed out earlier, at this point in both the Trump and Biden terms, Biden has almost doubled the debt Trump incurred.

 

[Just A UPS Guy]

If you say so. The economy goes in cycles and how bad a downturn is depends very much on how big an economic bubble has developed before it's popped. If you look at consumer debt, real estate, stock markets, there's some pretty big bubbles out there. When things seem to be going well because the stock market is up for awhile people forget how serious downturns like 2008 affected them. Nothing lasts forever. Protect yourself.

My apologies, my sarcasm seems to have not conveyed.

 

[vantexan]

My apologies, my sarcasm seems to have not conveyed.

I should've known, mea culpa.

 

[DriveInDriveOut]

By the traditional numbers, we do. But capitalism is terribly broken right now.

But that’s been true for decades now. Are we really going to blame the Biden administration for the gig economy and the squeeze of the middle class? Personally, I don’t see it as political. Capitalism in the US is broken. Political parties can help fix it or make it worse, but it’s definitely broken.

The rich get richer and the poor get poorer. It’s nothing new. Capitalism is broken and has been for a long, long time.

I suppose you could say capitalism works exactly how they want it to work, but that’s a bit darker and and more cynical. Possibly more true.

Intentionally pervert capitalism with leftist trash anti capitalist policies.... then blame capitalism.

Kind of predictable.
Huurrrr durr the rich are to blame!
Yawn.

Trump and the republicans had the government. All of it. Tax cuts are easy for them. They preach it constantly. They do it constantly. But they refuse to cut spending. They want the democrats to do the dirty work for them.

But really, who are we kidding? Republicans don’t want to cut spending.

Except for maybe Kim Reynolds.

Oh yes, don't forget.
Orange man bad.
FFS.

 

[IVE GOTTA PACKAGE 4U]

Never bad advice to bump your 401k, but it's starting to feel like we're buying at the top of the market...

Hindsight is 2020

That's no BS

 

[IVE GOTTA PACKAGE 4U]

U.S. consumer credit tops $5 trillion for first time in November

Consumer credit rose in November to over $5 trillion for the first time on record. Credit rose $23.7 billion in November, the biggest gain in a year.

www.marketwatch.com

 

[IVE GOTTA PACKAGE 4U]

tech compaines are on fire right now, it is fueling the stock market

Same thing again...

 

[Wally]

‘Rich Dad’ R. Kiyosaki says ‘suckers believe the economy is strong’

Robert Kiyosaki, known for his personal finance book 'Rich Dad Poor Dad,' has dismissed the notion of the economy being on a growth trajectory

finbold.com

 

[PT Car Washer]

‘Rich Dad’ R. Kiyosaki says ‘suckers believe the economy is strong’

Robert Kiyosaki, known for his personal finance book 'Rich Dad Poor Dad,' has dismissed the notion of the economy being on a growth trajectory

finbold.com

For how many years now have some "experts" been predicting a recession? I predict that one day they will be right.

 

[Nolimitz]

For how many years now have some "experts" been predicting a recession? I predict that one day they will be right.

"Robert Kiyosaki, author of “Rich Dad Poor Dad,” said he owes more than $1 billion in debt. “If I go bust, the bank goes bust,” he said. A best-selling personal-finance author and entrepreneur admits that he has more than $1 billion in debt — and doesn't think that's a bad thing.Jan 3, 2024"

 

[PT Car Washer]

"Robert Kiyosaki, author of “Rich Dad Poor Dad,” said he owes more than $1 billion in debt. “If I go bust, the bank goes bust,” he said. A best-selling personal-finance author and entrepreneur admits that he has more than $1 billion in debt — and doesn't think that's a bad thing.Jan 3, 2024"

If someone owes a bank a Billion Dollars, I would say he and the bank is already busted.

 

[BadIdeaGuy]

If someone owes a bank a Billion Dollars, I would say he and the bank is already busted.

Common ground here.

A guy worth 100 million with 1.2 billion in debt is insane.

That means an 8% market correction on whatever his borrowed money is invested in, and the dude is wiped out.

 

[DriveInDriveOut]

Common ground here.

A guy worth 100 million with 1.2 billion in debt is insane.

That means an 8% market correction on whatever his borrowed money is invested in, and the dude is wiped out.

He owns 12,000 rental units.

 

[BadIdeaGuy]

He owns 12,000 rental units.

Real estate is probably less risky than the stock market right about now, I guess.

I still wouldn't want to be that highly leveraged. Seems like you'd be one "covid" flare up and eviction stay away from having a big problem.

Oh look, it's an election year.

 

[anonymous23456]

He owns 12,000 rental units.

Damn sale guy/boomer!

A fourth-generation Japanese American, Kiyosaki was born and raised in Hilo, Hawaii. He is the son of educator Ralph H. Kiyosaki (1919–1991). After graduating from Hilo High School, he attended the U.S. Merchant Marine Academy in New York, graduating with the class of 1969 as a deck officer. He served in the Marine Corps as a helicopter gunship pilot during the Vietnam War in 1972, where he was awarded the Air Medal.[7] Kiyosaki left the Marine Corps in 1974; he sold copy machines for the Xerox Corporation as a salesperson from 1974 until June 1978.

 

[Wally]

How much of the current stock market run is due to government debt?

 

[Up In Smoke]

How much of the current stock market run is due to government debt?

The GOP has controlled the purse strings for two spending cycles now. They should run on the market being one of their accomplishments. Businesses are booming because we have settled the spending issues.

 

[Wally]

The GOP has controlled the purse strings for two spending cycles now. They should run on the market being one of their accomplishments. Businesses are booming because we have settled the spending issues.

I thought we are still borrowing and spending, living on credit?