The Economy (2019?)
- Thread starter rideit
- Start date
That’s the spirit.
Can’t let the boomers monopolize being self centered.
He’s still gonna love Trump at the bottom of the recession and we are at some kind of war. That will PWN teh LIBS!
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!
Mike Bloomberg Secretly Writes All Bloomberg Articles. Employs Journalists Anyways Because He's a Letting It TrIcKlE dOwNWOW! That's a weird coincidence. The article was on Bloomberg and there is a Michael Bloomberg running for president. Any relation here?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.
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.
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.
So yes, I would not shed too many tears for a downturn that predominantly affected them.
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.
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.
This should be a field of dots with Brian's trajectory a twisty line avoiding all of 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.
tHeRe Is No LiNe
targeting no, but the impacts are generally more severe on the elderly as they are past retirement age living on a fixed income.
this is complete nonsense. the problem aren't the care providers, the only group getting hit harder than them is patients.
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.
Given who is broke and who isn't I can guess who would be affected most
Chapter 1: Wealth Gaps by Age
Household median net worth in the U.S. stood at $71,635 in 2009. Across age groups, net worth varied from just $3,662 for households headed by adults
www.pewsocialtrends.org
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.Given who is broke and who isn't I can guess who would be affected most
Chapter 1: Wealth Gaps by Age
Household median net worth in the U.S. stood at $71,635 in 2009. Across age groups, net worth varied from just $3,662 for households headed by adults
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.because millennials are just raking it in like scrooge mcduck.
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.
bOoTsTrApS
He's losing weight too fast; running out of edible mass.
You could render him down and put him in your coffee? It's what he would want.He's losing weight too fast; running out of edible mass.
I just went upstairs and this is the story that was running on the TV's in the food court.
www.cnbc.com
Good job everyone! America bigly #1!
S&P 500 rises to record high after news the US will remove currency manipulator tag from China
Stocks rose, resuming the rally that started last week amid news the U.S. will remove China from a list of currency manipulating countries.
Good job everyone! America bigly #1!
So... Nothing actually happened. The Chinese haven't made any changes, they just got pulled off the list.I just went upstairs and this is the story that was running on the TV's in the food court.
S&P 500 rises to record high after news the US will remove currency manipulator tag from China
Stocks rose, resuming the rally that started last week amid news the U.S. will remove China from a list of currency manipulating countries.
Good job everyone! America bigly #1!
Pump and dump!
I would have been more delicious earlier. More marbling. Now I am becoming more gamey.He's losing weight too fast; running out of edible mass.
:he'srightyouknow.gif:
Bloomberg News will not investigate Mike Bloomberg or his Democratic rivals during primary
"We will continue our tradition of not investigating Mike (and his family and foundation ) and we will extend the same policy to his rivals in the Democratic primaries. We cannot treat Mike's democratic competitors differently from him," wrote Bloomberg Editor-in-Chief John Micklethwait.
www.cnbc.com
You wouldn't have read it anyways.Bloomberg News will not investigate Mike Bloomberg or his Democratic rivals during primary
"We will continue our tradition of not investigating Mike (and his family and foundation ) and we will extend the same policy to his rivals in the Democratic primaries. We cannot treat Mike's democratic competitors differently from him," wrote Bloomberg Editor-in-Chief John Micklethwait.
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.
How is that not age bias?
I mean you do have other contributing factors, but that's totally age bias.