Burnem Wizfyre
Log Wizard
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Rich people, anyone who makes 150k or less a year knows that shit is bad right now.
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Investing General Discussion
- Thread starter Furious
- Start date
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Guest, it's time once again for the massively important and exciting FoH Asshat Tournament!
Go here and give us your nominations!Who's been the biggest Asshat in the last year? Give us your worst ones!
Kiroy
Marine Biologist
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Or poor people, who’ve seen their gibs rise across the board.
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Tmac
Adventurer
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You always talk about data without the sauce. I wonder why that is.
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Mist
REEEEeyore
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Consistent across many economic surveys for at least a year, including data the various regional Fed branches look at. The Fed aggregates this data from many sources. Feel free to "do your own research." There's no point in linking data on the internet anymore, people always choose their own facts.
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Daidraco
Avatar of War Slayer
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Typical leftist believes everything coming out of the white house right now because its their preferred party. Never mind that the data points have been changed and the data points being used to say "everything is great!", they still showed that "everything is great!" in the middle of the COVID lockdown.
But it doesnt matter to argue with anyone about it. If they cant see that the dollars value is fucking shit right now, then its obvious that no amount of evidence will change their opinion.
But it doesnt matter to argue with anyone about it. If they cant see that the dollars value is fucking shit right now, then its obvious that no amount of evidence will change their opinion.
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Tmac
Adventurer
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Bad faith posts inspire gaming weekends you annoying faggot.
Posts with sauce is the point of this thread. If you can't do the bare minimum don't bother posting.
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Mist if you can't resist being a piece of shit in this thread I'll make it so you can only see the pol section and nothing else.
Get it together.
Get it together.
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Kiroy
Marine Biologist
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Like you’ve done with your data. It’s bullshit. You are part of the “best economy ever” clown crowd and then believe the opposite about how it’s being propagandized because you’re, at heart, a death cult communist.
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Kiroy
Marine Biologist
- 35,325
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Not fine Palum, "better"
mist: "Survey data shows a significant higher-than-normal amount of people think their personal financial situation is better than it's ever been"
read this over again to try to parse the insanity and oh man the mealy mouth phrasing - wonder what it could be that caused a SIGNIFICANTLY HIGHER THAN NORMAL amount of PEOPLE to THINK their PERSONAL FINANCIAL SITUATION is much better THAN ITS EVER BEEN
Geee I wonder if there's a SIGNIFICANTLY HIGHER THAN NORMAL amount of PEOPLE that entered the fucking country illegally over the last half decade /facepalm
the government data aggregates would never right guys???
Gravel
Mr. Poopybutthole
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The first year and some change of retirement was looking rough. It's definitely feeling good at the moment. Just with the first 3 months of the year we've made more than enough to cover the next two years of expenses.
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Rangoth
Blackwing Lair Raider
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Since SPIR got brought up recently…..
it did pullback but I managed to sell a 25$ strike CC with 4/19 expiry for about 65$(0.65). So if you do own that stock still you can sell some way OTM calls for a decent profit. I figured if it hits 25$ I’d be happy to sell, otherwise why turn that down. Up until a few days ago I’ve been nervous to sell CC because of fear I’d get called on a longer term hold or the stock was teetering on my cost basis and it wasn’t worth it due to shit premiums.
anyway, get in on the volatility while it lasts
it did pullback but I managed to sell a 25$ strike CC with 4/19 expiry for about 65$(0.65). So if you do own that stock still you can sell some way OTM calls for a decent profit. I figured if it hits 25$ I’d be happy to sell, otherwise why turn that down. Up until a few days ago I’ve been nervous to sell CC because of fear I’d get called on a longer term hold or the stock was teetering on my cost basis and it wasn’t worth it due to shit premiums.
anyway, get in on the volatility while it lasts
Khane
Got something right about marriage
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There's definitely some kind of psychedelic euphoria going on with Americans at large. Mist isn't wrong that most people seem to be fine with spending while also creating large sums of debt, all while "feeling good" about it.
And spending it on frivolous things. Before Covid a lot of the private golf and country clubs around here were struggling, offering stupid deals to attract new members. When Covid hit Golf was one of the few leisure activities that was not shut down and there was a huge influx of new members to the point most clubs have wait lists, even now.
My club went from being $2500 initiation in 2018 to $30k now, and went from ~240 members to 320 members with a 20 person waitlist, even at that inflated price... today.
That's fucking insane when I consider how I feel like my money gets me far less now than it did even 2 years ago. This market did not create that much higher end affluence. It didn't suddenly create a huge market for outrageous leisure spending when the market was already on a big run.
So what's actually going on?
And spending it on frivolous things. Before Covid a lot of the private golf and country clubs around here were struggling, offering stupid deals to attract new members. When Covid hit Golf was one of the few leisure activities that was not shut down and there was a huge influx of new members to the point most clubs have wait lists, even now.
My club went from being $2500 initiation in 2018 to $30k now, and went from ~240 members to 320 members with a 20 person waitlist, even at that inflated price... today.
That's fucking insane when I consider how I feel like my money gets me far less now than it did even 2 years ago. This market did not create that much higher end affluence. It didn't suddenly create a huge market for outrageous leisure spending when the market was already on a big run.
So what's actually going on?
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Big Phoenix
Pronouns: zie/zhem/zer
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Long term ramifications of dumping an ungodly amount of money into the system all the while interest rates where at near zero? Even with what they've been raised to now interest rates are still pretty low historically speaking.
Also don't ignore the massive increase in illegal immigration the past 3 years which has caused a surge in demand for every basic staple. Those illegals aren't starving to death or dying from sickness. We're feeding and caring for everyone, none who are productive paying taxes.
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Jysin
Ahn'Qiraj Raider
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Glad to hear it man. You had some precarious timing for retirement. Stay the course amigo!
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Rangoth
Blackwing Lair Raider
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technically taking on debt during periods of insanely high inflation/hyperinflation is good, because that debt costs less to pay back, but yes there are tons of people I know doing this in a bad way. I’ve cut back on a ton just waiting all of this out because I’m actually nervous about the next 2-3 years
Blazin
Creative Title
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Inflation has one source, money printing. I'm tempted to implement a rule that anyone who says otherwise gets a thread ban because we can't even begin a rational discussion with people running around saying something the equivalent of the earth is flat. Be better Mist.
...edit I responded before catching up on thread to see others jumping on you for saying stupid shit. Sorry to pile on!
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Blazin
Creative Title
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Jysin I was thinking about this exact guy this morning, just as an anecdote because I got a chuckle thinking about reading a future SVen post at S&P 500 8000 talking about how wrong the market is for constantly doing the wrong thing and going up. He is one of those guys with valid concerns but he is very good at seeing the "bad" and is completely blind to the "good". He ignores significant market forces in favor of others. He is a good example of a guy I don't understand how he makes it all other than profiteering off fear. He has missed every rally for years and years. He will occasionally make a snarky "I bet this stupid rigged market goes up" style posts that he will then point to as his "I was bullish all along" cover.
The government needs inflation, it needs as much inflation as the population will tolerate without uprising. It's the magic answer that is always there that people seem to constantly be blind to. "How is the govt ever going to pay this debt!" We have heard that for generations, and the government has shown time and time again the HOW. They are going to print their way out of it. The govt will borrow money from you today and pay you back with a devalued dollar in the future. It's not all doom and gloom the secret sauce remains keeping economic growth moving forward to help absorb the inflation impact.
I am someone who is very concerned for the future, but I also have learned enough to be careful not to let my concerns run a muck. What if we go through a period of significantly higher GDP growth. Rarely does anyone consider that possibility. Technological change can move things beyond what seems possible from our current perspective. I may not be able to say how that will happen anymore than a man sitting at the birth of the industrial revolution could have. But if it does happen we will be able to look back and go "oh..that's how"
I'll end my random rambling on this, the people who see the inflationary pressures are oft the exact same people afraid of equities. In reality that is the guy you should pass running with all his money to buy more stonks. Instead the guy talking endlessly about govt easing and inflation sits in cash like a god damn moron, as the tide rises and he drowns he'll be yelling "told you this would happen!" as the people who moved to higher ground watch him sink below the surface.
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Jysin
Ahn'Qiraj Raider
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Blazin
Been saying this for some time in my trade circles. The only way out of the debt problem is to inflate it away.
Makes sense on a government level, corporate level, as well as personal level. It just absolutely fucks anyone sitting in cash. I wish I had thrown more into hard assets like houses & land in March 2020. I too severely underestimated the money printing.
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