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The Economy (2019?)

Toshi

Harbinger of Doom
Oct 23, 2001
27,584
2,220
Us young people should be rooting for a healthy market correction in the equity and housing markets.
 

Pesqueeb

bicycle in airplane hangar
Feb 2, 2007
28,669
4,470
Riding the baggage carousel.
That’s the spirit.
Can’t let the boomers monopolize being self centered.
I believe the terms your looking for are "personal responsibility" and "Objectivism". Maybe they should quit being so entitled and lazy? They can cut back on the avacado geritol if they need to make those medical payments!
 

jonKranked

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Nov 10, 2005
57,500
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media blackout
WOW! That's a weird coincidence. The article was on Bloomberg and there is a Michael Bloomberg running for president. Any relation here? :think: The market is always and will always hit peaks & valleys, just as the real estate market. Can't always have the steady climb, though it would be really nice if it worked that way. However it doesn't.
Mike Bloomberg Secretly Writes All Bloomberg Articles. Employs Journalists Anyways Because He's a Letting It TrIcKlE dOwN
 

dan-o

Turbo Monkey
Jun 30, 2004
5,390
1,509
I believe the terms your looking for are "personal responsibility" and "Objectivism". Maybe they should quit being so entitled and lazy? They can cut back on the avacado geritol if they need to make those medical payments!
I’m Gen x, we hate everyone else equally.

But my comment wasn’t aimed at a particular generation so much as the notion of wanting to gain off others ill fortune.
 

Toshi

Harbinger of Doom
Oct 23, 2001
27,584
2,220
Boomers reaped the benefits of a SS system with many paying in, and of a huge housing appreciation rush at a time when they were those owning said properties, and of much cheaper relative education and healthcare costs (the latter of which they care little about because they have their Medicare safety net).

So yes, I would not shed too many tears for a downturn that predominantly affected them.
 

stoney

Part of the unwashed, middle-American horde
Jul 26, 2006
14,579
1,587
Colorado
Mike Bloomberg Secretly Writes All Bloomberg Articles. Employs Journalists Anyways Because He's a Letting It TrIcKlE dOwN
There are some incredibly conservative opinion writers there as well. Also Bloomberg is not involved with the business except as a figure head and hasn't been since early 2000's.
 

Pesqueeb

bicycle in airplane hangar
Feb 2, 2007
28,669
4,470
Riding the baggage carousel.
Boomers reaped the benefits of a SS system with many paying in, and of a huge housing appreciation rush at a time when they were those owning said properties, and of much cheaper relative education and healthcare costs (the latter of which they care little about because they have their Medicare safety net).

So yes, I would not shed too many tears for a downturn that predominantly affected them.
:stupid:

I don't wish anyone ill, but I also cry no tears when people who vote for the "face eating leopards party" suffer the inevitable consequences of a leopard eating their faces.
 

dan-o

Turbo Monkey
Jun 30, 2004
5,390
1,509
So yes, I would not shed too many tears for a downturn that predominantly affected them.
Have any examples of recessions that micro target a specific age group?

My experience has been that they cut deeply across the spectrum, with the advantage to recover lying with the young.

Never mind that the financial losses to boomers will be dumped on their spawn who may need to step up and financially care for them, therefore stunting their ability to recover.

Progressive thinking at its finest and one you’re going to find yourself at the tip of the spear when healthcare reform comes knocking to gut profit/‘greed’ from your career.
 

jonKranked

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Nov 10, 2005
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Never mind that the financial losses to boomers will be dumped on their spawn who may need to step up and financially care for them, therefore stunting their ability to recover.
:rofl: because millennials are just raking it in like scrooge mcduck. :rofl:
 

jonKranked

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Nov 10, 2005
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Progressive thinking at its finest and one you’re going to find yourself at the tip of the spear when healthcare reform comes knocking to gut profit/‘greed’ from your career.
this is complete nonsense. the problem aren't the care providers, the only group getting hit harder than them is patients.
 

Pesqueeb

bicycle in airplane hangar
Feb 2, 2007
28,669
4,470
Riding the baggage carousel.
Never mind that the financial losses to boomers will be dumped on their spawn who may need to step up and financially care for them, therefore stunting their ability to recover.
The spawn haven't recovered from the last recession. They are already fucked, the boomers just don't understand it yet, and the reason the millennial's are pissed off is because they know it.
 

Toshi

Harbinger of Doom
Oct 23, 2001
27,584
2,220
Have any examples of recessions that micro target a specific age group?
Given who is broke and who isn't I can guess who would be affected most



 

Pesqueeb

bicycle in airplane hangar
Feb 2, 2007
28,669
4,470
Riding the baggage carousel.
Given who is broke and who isn't I can guess who would be affected most



I assume that most people on this board would actually take a huge hit, on paper. The difference being that given the age I assume most posters here are, we all have time for the recovery (assuming a lot). If I were 5-10 years out of retirement, I'd want to be all cash/very safe securities.
 

jonKranked

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Nov 10, 2005
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I assume that most people on this board would actually take a huge hit, on paper. The difference being that given the age I assume most posters here are, we all have time for the recovery (assuming a lot). If I were 5-10 years out of retirement, I'd want to be all cash/very safe securities.
age ↑ risk ↓
 

stoney

Part of the unwashed, middle-American horde
Jul 26, 2006
14,579
1,587
Colorado
Never mind that the financial losses to boomers will be dumped on their spawn who may need to step up and financially care for them, therefore stunting their ability to recover.
:rofl: because millennials are just raking it in like scrooge mcduck. :rofl:
And this is the underlying issue. The current political rift in this country is cutting not just regionally, but in large part generationally, and in many cases intra-familiar. Those older generations that will rely on support from say... the government might be getting a rude awakening when the younger generations critically reduce payout from things like SS and Medicare to need based. Higher income Boomers who didn't save enough because they were expecting $40k from SS and to be able to sell their home for an incredibly inflated amount will get a rude awakening in the larger population of voting Gen-X and Millennial's drop a big 'fuck you', make changes like that, and don't buy their homes.

As for those expecting to rely on their spawn, what happens if those rifts are not repairable? Those Boomer's are up shit's creek. I know my cousin and his/her partner wouldn't support their parent's since they both came out and the parent's said some pretty nasty shit about her that got back to her. The parent's are independently wealthy because of their parent's, but that's just one example of an intra-family generational 'good luck'. I know of several others within my social sphere as well where the parent isn't in nearly as good of a financial position and already starting to struggle.

And what about Millennial's making nothing sitting on huge amounts of debt? They aren't going to be able to do shit to help support people if they can't support themselves.
 

stoney

Part of the unwashed, middle-American horde
Jul 26, 2006
14,579
1,587
Colorado

Brian HCM#1

MMMMMMMMM BEER!!!!!!!!!!
Sep 7, 2001
31,459
36
Bay Area, California
There are some incredibly conservative opinion writers there as well. Also Bloomberg is not involved with the business except as a figure head and hasn't been since early 2000's.
 

jonKranked

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Nov 10, 2005
57,500
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Sandro

Turbo Monkey
Nov 12, 2006
2,057
920
The old world
I'm at a complete fucking loss here. That's pulled off raw financial data. In any rational financial market, two quarters of dropping earnings would be reason for concern and you would expect to see slowdown.

You might be older than me and have gone through one more market cycle with the tech bubble than me, but I eat, breathe, and sleep this shit. Not even at the financial advisor down the street way, coming from working at Bloomberg where my clients were investment banks and hedge funds to then going to the investment bank.

This is NOT FUCKING NORMAL when this goes, and it will, it won't be like 2008. In the financial markets in 2008, the banks themselves took the hits and in large part got extensive loans from the Fed to support them while the credit swaps and mtge bonds settled. There will be none of that - the people holding stock positions are in majority, retail investors. Boomers being the largest portion of those by a very large amount.

We are going farther and farther over a precipice with no justification the growth. A huge portion of the earnings in 2017/18 we're based solely on stock buybacks. If you don't know what those are, I put an educational video up above a few weeks ago. Last year we saw heavy cuts to company expenses and automation with layoffs in manufacturing driving earnings by lowering costs to adjust for lower revenues.

This stock market growth is not built on a sustainable base. When there is nothing left to cut, no more shares to buyback (they've slowed down substantially), and the revenues reduce to the point they can't be hidden in cost cutting, it will be a damn spotlight that the king has no clothes on - where the king is the market.

While there is incredibly lower unemployment, wage growth is sitting below inflation last time I checked. That means people's money is worth less than how much prices are going up. There is a threshold point when people stop buying discretionary goods because they are struggling to buy staples. The tariffs have been taken on 100% by the US populace, meaning that we (as a whole) have less money to spend, pushing that point closer, faster.

I might not like Trump, but this is basic fucking economics; the stock market is not the economy. A better indicator is the bond market and it's been cooling down a lot over the last 6 months. Your rose colored glasses loving Trump are blinding you from raw economic data that is throwing red flags and blowing whistles like a 4y/o with one.
So I'm better off letting inflation nibble at my savings than investing in stocks? I sure as shit won't get into the real estate market at this point.
 

stoney

Part of the unwashed, middle-American horde
Jul 26, 2006
14,579
1,587
Colorado
So I'm better off letting inflation nibble at my savings than investing in stocks? I sure as shit won't get into the real estate market at this point.
It's about knowing your risk capacity. Like @Toshi said, the younger you are, the more risk you can take and the inverse. I regularly (ie daily) see high net worth boomers who are Trump supporters who sound exactly like Brian at 85%+ in stock. These are people whose life and financial positions are more in line with a 60/40 or 50/50 equity/fixed income balance; they just don't have the ability to take a substantial market hit.

If you have 20 years, you can sit on a heavy equity position (not 100%, you need something to sell when stock goes down) because you can recover. If you are closer or in retirement, you don't have the ability to sit on it with secondary income to keep you afloat.

I can tell you flat out, that if a 60-ish y/o who has retired once comes back to work, I won't hire them over and even lesser qualified 30 or 40y/o. I know they are less likely to leave sooner and more dependent on the income. It's not age bias, I'm looking at the long-term growth of my company and someone driven to grow vs. somebody who was already been done are more of my focus. Others are the same way.