Its about the economy man (1 Viewer)

[supermike80]

Seriously.   LGBTQ rights,  abortion ,climate change, blm, immigration reform, etc etc.  Honestly those items are so down my list of things I want fixed.  Gas is almost $5 a gallon in michigan,  my 401k is at risk due to the crumbling market and inflation is high.   Im 55 and on a 7 year plan to retire.  SS, Medicare and my retirement are what I care about more than any other thing.   And I have to.  Im a middle aged white guy,the only entity looking out for me and my wife is us. 

 

[Juxtatarot]

That’s fine but it’s helpful to understand how little the two parties’ politics affect the economy.

 

[FairWarning]

That’s fine but it’s helpful to understand how little the two parties’ politics affect the economy.

Why even vote then?

 

[Juxtatarot]

Why even vote then?

LGBTQ rights,  abortion ,climate change, blm, immigration reform, etc etc.  

 

[FairWarning]

Biden is 0-fer there also.  Looks like independent or another blank ballot if it’s Trump.

 

[kface]

That’s fine but it’s helpful to understand how little the two parties’ politics affect the economy.

This...unless some candidate is super extreme there is little effect by a four year term on the economy.  Global economy is where it's at.  Inflation is every where, stocks are down every where, etc...

I always say picking politicians is just picking how they are going to direct the money they are going to take anyway.....that's all you're choosing....most of the time - I edited to add that this streak of flirting with racists and fascists' that is going on with some some of these people is a little different nowadays

 

[beef]

7 years to retirement?  You're sitting on a great opportunity right now for one last load up and run.  Take advantage of it.  

 

[Boston]

Why even vote then?

It's funny but up until the Biden Presidency I did not realize that the Presidency is basically a figurehead position that has little to no effect on anything.

 

[sho nuff]

Why even vote then?

Because social issues are most affected by an administration. 

Both parties at this point spend a ton…where it should be spent affects my vote.

 

[Juxtatarot]

It's funny but up until the Biden Presidency I did not realize that the Presidency is basically a figurehead position that has little to no effect on anything.

There are certainly things a president has greater control over.  

 

[Boston]

There are certainly things a president has greater control over.  

From what I read on this Board it appears it does not involve the economy, gasoline, the border, crime and Covid.

 

[Juxtatarot]

From what I read on this Board it appears it does not involve the economy, gasoline, the border, crime and Covid.

Good point.

 

[SoBeDad]

If your house is paid for, or will be in 7 years, you might not be in a bad place. Your 401k had a sugar high, it's undergoing a correction. There are proposals that could "fix" social security, such as higher taxes, reduced or delayed benefits, less generous COLA formula, but none are popular enough now. SS is not going away for you.. A path to legality for 10 million undocumented could help fund SS. 

 

[The General]

Agreed. Economy, pocket book, etc are the top issue typically with most voters. This along with the pattern of midterms being bad for the party in power spells big trouble for the blue team.

Also worth noting there has also been a pattern of the economy, jobs doing better when Dems are in the WH going back like 80 years 

 

[FreeBaGeL]

Huh, it's almost like we shouldn't have gone out of our way to appoint a doveish fed chair in 2018, then slashed interest rates to nearly zero during a strong economy because we politicized the stock market, leaving that doveish fed chair with nothing to do to stimulate the economy other than promising to literally print unlimited money if, say, a worldwide pandemic were to hit while rates were already at zero.

 

[Nugget]

Seriously.   LGBTQ rights,  abortion ,climate change, blm, immigration reform, etc etc.  Honestly those items are so down my list of things I want fixed.  Gas is almost $5 a gallon in michigan,  my 401k is at risk due to the crumbling market and inflation is high.   Im 55 and on a 7 year plan to retire.  SS, Medicare and my retirement are what I care about more than any other thing.   And I have to.  Im a middle aged white guy,the only entity looking out for me and my wife is us. 

It is fantastic that you don’t have to worry about things outside of the economy. Most other groups have to worry about it in addition to some of the other issue you listed. 
  If retirement is your biggest concern in this economic environment, you are pretty lucky.
  I would have guessed you knew this, until you stated that you don’t feel supported as a middle aged white man. 

 

[pinkham13]

7 years to retirement?  You're sitting on a great opportunity right now for one last load up and run.  Take advantage of it.  

Good call Beef Bought some NFLX on Wednesday along with some FB and CMCSA. You gotta buy when there is blood in the streets. I retired at 47. I do odd jobs to keep up with inflation and rent out some property. I don’t have that dream retirement but at least I don’t have to show up for any meeting or put on a tie anymore. 

 

[The General]

It is fantastic that you don’t have to worry about things outside of the economy. Most other groups have to worry about it in addition to some of the other issue you listed. 
  If retirement is your biggest concern in this economic environment, you are pretty lucky.
  I would have guessed you knew this, until you stated that you don’t feel supported as a middle aged white man. 

This is a great point.

It does stand though that the economy is always the top issue with voters.

 

[Snotbubbles]

Seriously.   LGBTQ rights,  abortion ,climate change, blm, immigration reform, etc etc.  Honestly those items are so down my list of things I want fixed.  Gas is almost $5 a gallon in michigan,  my 401k is at risk due to the crumbling market and inflation is high.   Im 55 and on a 7 year plan to retire.  SS, Medicare and my retirement are what I care about more than any other thing.   And I have to.  Im a middle aged white guy,the only entity looking out for me and my wife is us. 

Your 401k should be fine in 7 years, though at this point you should have already been de-risking your portfolio and moving more into bonds.    

 

[FairWarning]

Huh, it's almost like we shouldn't have gone out of our way to appoint a doveish fed chair in 2018, then slashed interest rates to zero during a strong economy because we politicized the stock market, leaving that doveish fed chair with nothing to do to stimulate the economy other than promising to literally print unlimited money if, say, a worldwide pandemic were to hit while rates were already at zero.

A lot of truth here.  

 

[Juxtatarot]

Rates weren’t “slashed to zero” until March 2020.

 

[FairWarning]

Agreed. Economy, pocket book, etc are the top issue typically with most voters. This along with the pattern of midterms being bad for the party in power spells big trouble for the blue team.

Also worth noting there has also been a pattern of the economy, jobs doing better when Dems are in the WH going back like 80 years 

What is bad with the midterms is it’s 2 years of nothing getting done ahead because of the partisan bickering.

 

[Juxtatarot]

What is bad with the midterms is it’s 2 years of nothing getting done ahead because of the partisan bickering.

What do you think should be done to help the economy?

 

[SoBeDad]

Something you can do to help your personal economy is to increase your odds of staying healthy by exercise, diet, mental and social activities, and preventive measures such as colonoscopy, etc. Getting sick can be costly.

 

[The General]

What is bad with the midterms is it’s 2 years of nothing getting done ahead because of the partisan bickering.

This doesn't really explain why this has been the case in almost every midterm election going back decades unless people have always thought this way. Maybe they have...the grass is always greener and all.

 

[dkp993]

Biden is 0-fer there also.  Looks like independent or another blank ballot if it’s Trump.

Yep. 3rd party is the only option I can foresee if Trump is the nom.

 

[The Football Freak]

Monmouth poll

Actually, from this and many polls, Abortion seems to have shot up to the one spot with the economy. (I understand polls aren’t your thing, Mike. They are legitimate barometers to most, though) I’d imagine it takes the top spot soon, or at least once the ruling comes out in June. That, along with a couple other situations that I’ve followed, might make a “red wave” in the midterms less likely. We will see.

 

[Da Guru]

Seriously.   LGBTQ rights,  abortion ,climate change, blm, immigration reform, etc etc.  Honestly those items are so down my list of things I want fixed.  Gas is almost $5 a gallon in michigan,  my 401k is at risk due to the crumbling market and inflation is high.   Im 55 and on a 7 year plan to retire.  SS, Medicare and my retirement are what I care about more than any other thing.   And I have to.  Im a middle aged white guy,the only entity looking out for me and my wife is us. 

When push comes to shove they are way down on everyone`s list. People care about their bank statements first and foremost, always have. If that is in good order than they care about other things.

 

[FairWarning]

This doesn't really explain why this has been the case in almost every midterm election going back decades unless people have always thought this way. Maybe they have...the grass is always greener and all.

I remember it  mainly with the last two years of a presidents 2nd term.  If everything was running smoother, I couldn’t classify November as Biden and the D’s as lame duck. Joe running in 24 is far from a lock.

 

[FairWarning]

When push comes to shove they are way down on everyone`s list. People care about their bank statements first and foremost, always have. If that is in good order than they care about other things.

Roe Vs Wade is shooting up fast though.  

 

[dkp993]

Joe running in 24 is far from a lock.

God I sure hope so. 

 

[FairWarning]

God I sure hope so. 

So does a lot of his party.  I think he was used as a placeholder for the party.

 

[The General]

I remember it  mainly with the last two years of a presidents 2nd term.  If everything was running smoother, I couldn’t classify November as Biden and the D’s as lame duck. Joe running in 24 is far from a lock.

The party in the WH has lost seats in the House in something like every midterm since the 40’s outside of 2 elections IIRC.  

 

[HellToupee]

less generous COLA formula,

Hilarious how this is phrased. 
 

generous

No need for people on SS to keep up with the cost of living 

 

[dkp993]

For the life of me I can’t figure out why they don’t just raise the SS income tax max from 147 to 247?  It’s not like people making 200+ won’t still pull or use SS when they retire.   

 

[djmich]

I remember it  mainly with the last two years of a presidents 2nd term.  If everything was running smoother, I couldn’t classify November as Biden and the D’s as lame duck. Joe running in 24 is far from a lock.

Joe and running should never be used in the same sentence.  Maybe just go with "on the ticket" or "present".

 

[Alex P Keaton]

Your 401k should be fine in 7 years, though at this point you should have already been de-risking your portfolio and moving more into bonds.    

Not really.  Actuarially speaking, he’s going to live another 30-40 years.   That’s a long time horizon. It would be foolish to put too much into bonds with that horizon.

 

[Juxtatarot]

True or false: No matter any hypothetical combination of Hillary, Trump and Biden being president, the economy would be roughly in the same place right now. 
 

I say true.

 

[Alex P Keaton]

True or false: No matter any hypothetical combination of Hillary, Trump and Biden being president, the economy would be roughly in the same place right now. 
 

I say true.

Basically.   Our politicians have all lost the ability to make tough short-term decisions that will benefit us all in the long run.

 

[BladeRunner]

True or false: No matter any hypothetical combination of Hillary, Trump and Biden being president, the economy would be roughly in the same place right now. 
 

I say true.

Where were you during 2019-2020 with this wisdom? 

Could you have been, I dunno, BLAMING TRUMP?

 

[Juxtatarot]

Where were you during 2019-2020 with this wisdom? 

Could you have been, I dunno, BLAMING TRUMP?

There are many economic criticisms I had with Trump including tax cuts to the rich, increasing the deficit, wanting negative interest rates while the economy was booming, lack of support of free trade, etc.  However, that doesn’t make my opinions inconsistent.

Which side do you take on my true-false question? I guess you’d say false but I’m not sure.
 

 

[The General]

True or false: No matter any hypothetical combination of Hillary, Trump and Biden being president, the economy would be roughly in the same place right now. 
 

I say true.

Depending on how the Ukrainian / Russian war went things could be much worse.  

 

[FairWarning]

There are many economic criticisms I had with Trump including tax cuts to the rich, increasing the deficit, wanting negative interest rates while the economy was booming, lack of support of free trade, etc.  However, that doesn’t make my opinions inconsistent.

Which side do you take on my true-false question? I guess you’d say false but I’m not sure.
 

Can’t the D’s undo the tax cuts to the wealthy or don’t they want to?

We are at  a point where we need to show a path to citizenship unfortunately.  

I agree with you on the negative interest rates  we will probably have to raise again.  It’s an ugly pill ti swallow, but we may have to take our medicine now. 

 

[FairWarning]

Depending on how the Ukrainian / Russian war went things could be much worse.  

Very true, and the China deal could make  it really ugly.

 

[FairWarning]

For the life of me I can’t figure out why they don’t just raise the SS income tax max from 147 to 247?  It’s not like people making 200+ won’t still pull or use SS when they retire.   

It should be raised to unlimited.

 

[The General]

Can’t the D’s undo the tax cuts to the wealthy or don’t they want to?

We are at  a point where we need to show a path to citizenship unfortunately.  

I agree with you on the negative interest rates  we will probably have to raise again.  It’s an ugly pill ti swallow, but we may have to take our medicine now. 

I don't think they would have the votes to do this in the Senate even if they tried.

 

[Alex P Keaton]

For the life of me I can’t figure out why they don’t just raise the SS income tax max from 147 to 247?  It’s not like people making 200+ won’t still pull or use SS when they retire.   

Because a) they cap benefits, b) the minute SS becomes totally useless to high income people it becomes at serious risk of elimination.

 

[sho nuff]

Can’t the D’s undo the tax cuts to the wealthy or don’t they want to?

We are at  a point where we need to show a path to citizenship unfortunately.  

I agree with you on the negative interest rates  we will probably have to raise again.  It’s an ugly pill ti swallow, but we may have to take our medicine now. 

Would be tough…but Biden can and should do something about the tariffs on China.

 

[Shula-holic]

For the life of me I can’t figure out why they don’t just raise the SS income tax max from 147 to 247?  It’s not like people making 200+ won’t still pull or use SS when they retire.   

One of the big hangups is over the additional accrued benefits, whether or not to pay them on the additional amount.  

 

[dkp993]

Because a) they cap benefits, b) the minute SS becomes totally useless to high income people it becomes at serious risk of elimination.

One of the big hangups is over the additional accrued benefits, whether or not to pay them on the additional amount.  

Look, it’s already a Ponzi scheme funded by higher earners. Lean into it. It works and provides a valuable backstop to our older generation. It’s also become a cornerstone of our system, it’s baked in like Medicare.  Long term solvency is vital.  Want to see risk for politicians? See what happens to those that let it fail from people like me who’ve paid into it for over 30 yrs.