Dat Dow tho
- Thread starter sean miguel
- Start date
First you implied that the strong market benefits everyone. Then you did a 180 and agreed that it overwhelmingly benefits the rich, but that's ok because they deserve it more. Then you averaged yourself out and claimed that 1/3 of workers have a 401k, so the market growth is still good for the middle class, but that those risk takers at the top still deserve all the spoils, with a tax break for the rich talking point tossed in there.
Maybe you believe the highest earning third of workers are the middle class. But you're still tossing out strawmen trying to bait me into a pointless and irrelevant argument. (Your description of those richest 10% as "risk takers" is laughable, btw. If you have millions of dollars and invest a few into the stock market, you're not taking a risk)
The point attempted by this thread was that the stock market has been doing well. That's true, it has continued to do well into the current presidency. The performance was then credited to the current president, that's debatable. The implication is that this proves he's doing a good job as president. I'm just pointing out that since the top 20% of Americans by wealth own 92% of the market (I know the numbers are from March, I took a ****** that the percentages haven't changed significantly), the next 30% owns the other 8, and the bottom 50% own 0, at best this proves that he's doing a good job for a small percentage of the population, the portion that needs the least help.
Jack Davenport
Banned
No Einstein, you inferred that it helped everyone. It certainly helps everyone invested, even those that have some relationship with the companies benefitting from the bull market.
Basically you got all butthurt because the Dow reached an all time high on Trump's watch and 55 million Americans have enjoyed an 18-20 percent gain in their 401k plan in just 7 months.
The average 401k is 100,000 dollars.
That's an $18-20,000 increase for millions of Americans.
I know that makes you very sad.
Jack Davenport
Banned
Dat jobs report tho
Economy adds 209,000 more jobs in July, employment rate at 16-year low
https://www.cnbc.com/2017/08/04/us-nonfarm-payrolls-july-2017.html
Obama gave us 8 years of economic malaise. Trump has already fixed many of Obama's failures. Trump now presides over a robust economy. What matters most? Your economic well being or a phone call from the Boy Scouts? Give credit where credit's due
Economy adds 209,000 more jobs in July, employment rate at 16-year low
https://www.cnbc.com/2017/08/04/us-nonfarm-payrolls-july-2017.html
Obama gave us 8 years of economic malaise. Trump has already fixed many of Obama's failures. Trump now presides over a robust economy. What matters most? Your economic well being or a phone call from the Boy Scouts? Give credit where credit's due
bobjustbob
Proud member of FreeOnes Hall Of Fame. Retired to
Employment numbers are from a lagging indicator. Investment is based upon confidence. That being said, I am being called several times a week for job offers for nearly a year. Good jobs for people with skills similar to mine. Thus it is reasonable to assume that there are investors out there with money to hire people. At this point now, Trump confidence in the job market is a sellers/people's market. Companies are bidding for people and I am a people.
Good. But I'll abstain from popping the ********* cork just yet. Obama had a whole lot of months in which job growth eclipsed 209,000. As a matter of fact, his average monthly job grown was 199,000.Maybe I missed them somehow, but I can't recall a single incident of a conservative using the word "robust" to describe such similar (or superior) numbers.
also re July's numbers - "many of the new jobs were low paid, while manufacturing continued to shrink as a share of the economy" - spreadex
you think it's good now, wait til tax reform passes. Unlike the healthcare repeal debacle, the republicans are more united on this issue and only need a simple majority.
MAGA
MAGA
bobjustbob
Proud member of FreeOnes Hall Of Fame. Retired to
Are you nervous about your k money imploding? Cash your stock profits and shift it to bonds. I'm gonna ride the wave. Confidence in a strong and growing economy. I put my money where my mouth is.
In January 2009, when Obama took office, unemployment was at 7.8 (+2.8 from since January 2008) By October '09, it reached 10.0 and stayed between 9.0 ans 10.0 until Obtober 2011. Then it started to slowly decrease. Obama left office with the unemployment rate at 4.9, a (-2.9 from where it was when he took office, -5.1 from the highest it it's been during Obama's 2 years).
Obama's presidency has many flaws but what no one can deny is that Obama inherited an economical mess and that he successfully avoid the US economy to go off the a cliff and put it back on tracks.
Thank God Trump was elected in 2017 : he would have made things far worse than they were when Bush left office...
Jack Davenport
Banned
The lies of statistics.
Fucking liar
http://m.washingtontimes.com/news/2015/feb/8/editorial-obamas-unemployment-rate-lies-exposed-by/
xfire
New Twitter/X @cxffreeman
People who dump their **** into 401k's and forget about it should be nervous.
bobjustbob
Proud member of FreeOnes Hall Of Fame. Retired to
It can't be denied that Obama inherited a **** storm. Bitch as much as you want about the bail-outs and debt but it helped the people that employ people to pull up their boot straps and get back to even. End justified the means.
The market got their **** and let it roll. Thank you Obama. We'll take it from here. Hillary? Um... no thank you. Business benefits the people better than government. When they expand, people and business both make money and pay taxes.
The market got their **** and let it roll. Thank you Obama. We'll take it from here. Hillary? Um... no thank you. Business benefits the people better than government. When they expand, people and business both make money and pay taxes.
bobjustbob
Proud member of FreeOnes Hall Of Fame. Retired to
Corrected.
xfire
New Twitter/X @cxffreeman
Indeed. Money is a bitch, the sooner a person learns that Monopoly wasn't just a game the better off they are. I inherited a nephew when I married my wife,[NOBABE] the ***[/NOBABE] just turned eighteen and doesn't have a pot to **** in or a window to throw it out, like his ******. So they're telling the little fucker to man up and go apply at McDonald's. I told him to go talk to a fucking Air ***** recruiter. I'd put the little bastard to work but he won't move to Texas.
bobjustbob
Proud member of FreeOnes Hall Of Fame. Retired to
The best thing about a k is that you can barrow against it. Take a loan and you are the bank. Pay yourself the interest. I've done this a number of times. That interest money is miniscule and all goes back to ME.
This is not a rich person's program. k has limits for contributions. You make enough money to sock away for a more lucrative retirement? There's the Roth. But at 18k a year or so limit, the average working person won't have to go there. Don't forget the match. That **** is like dollar or half per your dollar up to 4% of your pay. Add like 2G per month from Social security, Medicade... find me dead at the track or card table.
This is not a rich person's program. k has limits for contributions. You make enough money to sock away for a more lucrative retirement? There's the Roth. But at 18k a year or so limit, the average working person won't have to go there. Don't forget the match. That **** is like dollar or half per your dollar up to 4% of your pay. Add like 2G per month from Social security, Medicade... find me dead at the track or card table.
bobjustbob
Proud member of FreeOnes Hall Of Fame. Retired to
His choice. You're good enough to set him up. Something like here's your room, laundry. clean up your own messes. In a few months it's time to be on your own. I've been there a in situation something like that. TWICE I set him up to work next to me and he was too lazy to do my hours.
xfire
New Twitter/X @cxffreeman
It aches me to see [NOBABE]the *** [/NOBABE]wasting his life, I fucked off for five years after I graduated from high school, getting kicked out and told to sink or swim can be a real **** up call. If he doesn't join the military, especially the Air *****, I know he's too lazy to waste any time on. If he's too scared of what the Air ***** has to offer, it's because he doesn't want to work. He's still welcome to come to Texas, though, I've got plenty of **** he can do, but laying up on his ass ain't one of them.
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