All Things Economic

“Stop listening to NPR. That shit will rot your brain”

Gee, I wonder which side of the aisle you’re on.

lol

~Scamp

"Trump got shot in the ear and we made$1800 on it! Had 200 shares of Trump Media stock ticker DJT . Dumped it monday moring pre market"

"Nice short."

""Nice short."
It's the only way to make money off of djt's failed business ventures."

But he didn't short the stock, as in a naked short. He "had" 200 shares, meaning he was long. In order to have made $1800 on the stock, it had to appreciate from when he originally purchased it.

Our post was economic and about money. All your posts show which side of the aisle you are on.

bifem: “Trump got shot in the ear and we made$1800 on it! Had 200 shares of Trump Media stock ticker DJT . Dumped it monday moring pre market.”

“Guess who” is political but your drivel in this thread isn’t?

LMAO

~Scamp

"Altman has suggested that this might involve taxing billionaires like himself who will have grown rich by eliminating all those pesky, leisure consuming, jobs via AI."

I'm not entirely sure why having a billionaire pulling a stupid idea out of his ass is somehow different than a blowhard in cubicle land doing the same thing, but here we are.

Long before the Sims and other games designed to show you how little you understand about life, there was modeling meant to teach high school and college students how to evaluate ideas and what terrible outcomes occurred with imposing various bright ideas onto civilizations in various stages. It was cumbersome, because you had to make your changes and send it into a university and wait for the output, but it was educational.

I'd think the available games would be much, much better now, so maybe someone should send one to Altman?

Rabbit Scamp you put the politics in this thread with guess which one. Piss off in the wrong bathroom if it makes you feel right LOL

"There is no such thig as "about to stick" a perfect landing . People cheer and applaud only when a perfect landing has been "stuck". Past tense."

Of course, but economists deal in trends all the time and you often cite alarming trends of impending doom because the markets, in your opinion, are overvalued.

So to paraphrase your response, there is no such thing as a pending crash landing.

Also, no one said anything about a perfect landing, signs point to a "soft landing", which is when inflation returns to the Fed’s target without a recession.

People like to report bad economic news, I reported good news. Not just about what is to come, but what has already happened. Ignore the "soft landing" part of my post and you are still left with this.

"Economic growth in the first half of the year was solid, with the economy expanding a robust 2.8% annualized rate in the second quarter, according to fresh Commerce Department figures released Thursday, which are adjusted for inflation and seasonal swings.

As the economy continued to expand from April through June, inflation resumed a downward trend and seems to be on track to slowing further toward the Federal Reserve’s 2% target."

Feel free to draw your own conclusions.

~Scamp

"Soft landing with all passengers and crew dead at the scene. Stop listening to NPR. That shit will rot your brain"

I know it is disappointing for some when facts contradict your beliefs but there is an entire other forum if you want to focus solely on the political aspect of the reports.

~Scamp

LOL

There is not the political will for universal basic income.

I haven't gotten into the arithmetic of it, so I will take your word.

Although I will say that the people getting the grand will be paying some kind of taxes on it, unlike the billionaires. So that will make up for some of it. But it somehow seems like taking money out of your left pocket and putting it in your right pocket...

I have long been an advocate of more brackets at the top end. I'm not smart enough to know how that would look, but I think a top marginal rate of 37% from $600K to infinity needs a change.

Also in favor of some changes in what is considered income...

What brought me here today was the desire to rant about AI billionaire Sam Altman's so called "universal basic income experiment" which is all over the news for finding the, "surprising result" that giving low income people an extra thousand dollars a month led to them working a bit less and having more leisure time. This contradicted the rather patronizing and low bar expectation of the study designers that people would rather "misuse" the money. No explanations were offered as to what their expectations "misuse" meant. Hookers and blow perhaps? In any case, this study is widely being touted as justification for a program of universal basic income. Altman's suggestion is that it would be paid for by the often suggested magical solution of "more equitable" division of wealth in the country. Altman has suggested that this might involve taxing billionaires like himself who will have grown rich by eliminating all those pesky, leisure consuming, jobs via AI.

Now, not being someone who embraces the vision of such a future (Call me a Luddite. I'm ok with it), I resort to the simple tools of arithmetic: Let's say we give every American, up to median income level, a thousand dollars a month. This would cost a bit over $2 trillion per year. Now let's suppose we don't pansie around with a "progressive tax" on billionaires, but rather go full Bolshevik on their asses. My modern day "modest proposal" would be to harvest and eat ALL the billionaies and confiscate ALL their wealth. According to Forbes, there are bit less than 3,000 of these folks in the country and the average one (Musk, Bezos, Buffet and Gates notwithstanding) has a net worth of roughly $1.7 billion. So altogether they would be worth about $5.1 trillion. Awesome! So we could fund this program without debt for more than two and a half years! Possibly longer if we invested the proceeds, though that idea has a rather distasteful sort of capitalist taint to it. And I'm not even considering that several hundreds of thousands of people would get to enjoy a delicious one time barbecue. Sorry Vegans, you're out of luck on that part.

@Scamp

Not disagreeing with the figures, or the politics of the situation. Both are inevitable. However, I have no explanation, and I have heard no convincing one, for why this should be so.

High inflation was totally understandable, given more than a decade of near zero interest rates plus pandemic stimulus. High interest rates as a fix should counteract this, yet federal deficit spending remained, and remains, massive. And money keeps being pumped into massively overpriced equity markets, whose valuations can only be justified by a return to near zero interest rates, which I see as unlikely in my lifetime. Or by continued high revenue growth by said companies, which is inflationary. And near zero interest rates in the short term can only be justified by bad recessions. A "soft landing", as you point out, remains a "unicorn".

Which brings me to my grammatical issue with your post: There is no such thig as "about to stick" a perfect landing . People cheer and applaud only when a perfect landing has been "stuck". Past tense.

Soft landing with all passengers and crew dead at the scene. Stop listening to NPR. That shit will rot your brain

America’s economy is about to stick what’s called a “soft landing,” which is when inflation returns to the Fed’s target without a recession, a feat that’s only happened once before.

Economic growth in the first half of the year was solid, with the economy expanding a robust 2.8% annualized rate in the second quarter, according to fresh Commerce Department figures released Thursday, which are adjusted for inflation and seasonal swings.

As the economy continued to expand from April through June, inflation resumed a downward trend and seems to be on track to slowing further toward the Federal Reserve’s 2% target.

This is great news for almost every American. Can you guess who the exception is? lol

~Scamp

hey scamp just got a big dividend from NatGRid you should buy some

"Nice short."

It's the only way to make money off of djt's failed business ventures.

~Scamp

Nice short.

Trump got shot in the ear and we made$1800 on it! Had 200 shares of Trump Media stock ticker DJT . Dumped it monday moring pre market

Re: vp election and portfolio change

Perhaps it's time to revisit the spurious correlations thing Va pointed at a while back. Not sure if this was that exact page, but the following gives a good idea of how some correlations can be completely bogus -

plotlygraphs.medium. com/spurious-correlations-56752fcffb69

"... Our CPA is almost useless and doesn’t return our calls and it seems that it’s impossible to get solid financial advise here..."

Most CPAs are going to be useless for financial/retirement advice. You need a Certified Financial Planner that specializes in retirement planning - and it might mean interviewing several to find one that fits you.

cfp DOT net has a "find a professional" database that should get you started.

"leaves me looking for a tax differed place to park the funds"

--------------

I use evergreenmoney. It's a nice t-bill / checking acct hybrid that will get you in excess of 5.3% Federal and State tax exempt.

I'll send you my VENMO information.

im just saying that my portfolio went up 245 yesterday and 180 again today................vp pick didnt seem to make any difference LOL

Don’t be obtuse tig, the markets don’t move based on who a candidate picks as a running mate four months before an election.

Just FYI, the Dow has doubled in the last four years, remind me again who was president during that period?

~Scamp

scamp.......sorry but mine did.....sorry yours diddnt

HAHAHAHAHA

Good one tig, you’re a real comedian

~Scamp