White House Isn't Paying Attention to Americans Getting Their Retirement Plans Wiped Out

Discussion in 'Political Opinions & Beliefs' started by sec, May 19, 2022.

  1. sec

    sec Well-Known Member

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    https://townhall.com/tipsheet/katie...-the-stock-market-completely-tanking-n2607473

    HYPERLINK has full article

    snip

    The stock market took a steep nosedive Wednesday and the Dow Jones Industrial Average plummeted by nearly 1200 points. Americans across the country are watching their retirement savings, specifically, 401k plans, get wiped out................................

    When asked about the situation, White House Press Secretary Karine Jean-Pierre said President Joe Biden and administration officials aren't paying attention to the losses.


    end snip

    Sadly, many who have seen their retirement accounts get crushed helped create this disaster by voting Democrat.

    Yes, it's karma for many but I honestly don't think voters fully understood the harm caused by their Democrat vote. The best that we can hope for is gridlock in DC if the GOP can take back the house or Senate. The bloodbath would at least stop.
     
  2. drluggit

    drluggit Well-Known Member

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    Well, I suppose we should harkens back to when Obama said, "You didn't build that"... As the answer. Democrats do seem awfully entitled when it comes to other people's money. When you think about it, between inflation and the blood bath in equities, this administration has committed high treason against the nation. Perhaps it is time we do something to change this.
     
  3. balancing act

    balancing act Well-Known Member

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    And exactly what do you think they should be doing?
    You seem to be the resident economic expert. You think government should stay out of business, but somehow control the stock market, oil markets, food markets, factory production, etc.
    You are producing a circular argument, with the only purpose of arguing or complaining, not actually wanting to discuss any real problems or solutions.
    You are what you are complaining about.
     
  4. sec

    sec Well-Known Member

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    You like what is happening to people's retirement accounts? You try and defend your Democrat vote?
     
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  5. balancing act

    balancing act Well-Known Member

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    Why would you make that completely unfounded conclusion about me? Of course not, but I also think that it's not a real loss. Your framing of the issue is disingenuous, for two reasons:
    It is temporary, only accounts cashed out accounts will "lose" money. But, you already know that, being the economic expert you are.
    And you failed to answer the question, oh mighty economic expert!
    Your objective apparently is just to throw shade at the current administration, of whom I'm not an apologist, and you don't really have any real objective points to make, nor any possible real solutions.
     
    Last edited: May 19, 2022
  6. HockeyDad

    HockeyDad Well-Known Member Past Donor

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    The federal government can STOP SPENDING ****ING MONEY!!!!! Jesus Christ this is not rocket science. This is the START of the payment due for the INSANE Covid lockdowns and INSANE Covid stimulus payments. We haven't seen the real pain yet. That is coming. We are at the beginning of economic collapse, not the end. We have been told that our main controller cannot get PIC processors for a year and a half. Supply outages could destroy our company. These outages are INDUSTRY WIDE.
     
    Last edited: May 19, 2022
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  7. sec

    sec Well-Known Member

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    of course you apologize for all things Democrat. But, maybe in your mind you think that isn't what you do.

    You are not going to stop panic in some folks who are moving their money into metals or cash. Those damages are real and for many, unrecoverable.

    And yes, Democrat votes brought this about. I only hope that decent folks turn off their TVs and stop listening to the Democrat media and pay attention to the train wreck all around them.
     
  8. sec

    sec Well-Known Member

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    let us not forget executive orders and the subsequent increase in prices for anything energy-related. And we know that most everything is affected by the price of oil or gas.
     
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  9. balancing act

    balancing act Well-Known Member

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    Interesting response, but I was addressing @sec about their post, about the stock market dropping recently. I agree the government should stop spending money that we can't account for, but how does that, short term, address the stock market issue? (it doesn't, in my humble, non-economic expert opinon)
    You mentioned PLC processors. What brand are they? If you are talking about PLC processors for machine control, I may be able to help. Let's just say I'm very knowledgeable about them. Depending on the brand, I might have a solution.
     
  10. Kranes56

    Kranes56 Banned

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    Get a better source OP.

    And bold assumption anyone under 25 is retiring.
     
  11. straight ahead

    straight ahead Well-Known Member

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    Why would the Democrats care? All their constituents' money comes from the government anyway.
     
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  12. sec

    sec Well-Known Member

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    you are welcome to refute the facts

    Not sure where you got the idea that the article discusses folks under 25 years of age
     
  13. Kranes56

    Kranes56 Banned

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    Dont need to. Just need to say you have a bad source.
     
  14. Hey Now

    Hey Now Well-Known Member

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    Par for the course with this OP.
     
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  15. Vote4Future

    Vote4Future Well-Known Member

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    The stock market is failing because of inflation (created by multiple stimulus packages and student loan forgiveness that the United States cannot pay for), because of the White house inability in foreign relations (Afghanistan departure failure and Russia invades Ukraine), and the Biden failed promise to defeat Covid (no solutions since he became President have worked so now we should just live with Covid).

    Common denominator: Failure in Chief - Joey Biden.
     
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  16. balancing act

    balancing act Well-Known Member

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    Hate to say it, but you responded to my post, so
    what you have done is provide a list of grievances that might be remotely related to the stock market, but you didn't make any direct correlation to the stock market values.
    I don't see what the things I highlighted have done to drive down the stock market. History shows that the stock market and US national debt don't seem to be related.
    Russian invading Ukraine? I didn't know Joe Biden was in charge of military operations in Russia, but I guess if you think that, you're welcome to it.
    Are you sure you just don't like Biden, so everything is his fault? Because that's how it looks from here.
    Not hatin, just sayin.
     
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  17. Doofenshmirtz

    Doofenshmirtz Well-Known Member Past Donor

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    Good question. They should stop spending our money like thieves with stolen credit cards. They don't care about inflation because they don't have to work for the money. You would never spend $32. for a single screw, or $600. for a toilet seat, but eventually you will have no choice!
     
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  18. balancing act

    balancing act Well-Known Member

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    Actually, I agree with you about much of what you're saying, that the government sometimes spends money foolishly.
    You must be really pissed off with Trump as he spent government money like a drunk sailor.
    Also, you must have liked Obama in this aspect, as he did a pretty decent job on the budget.
    BUT, (you had to know that was coming), historically the budget woes of the US don't really affect the prices of stocks.
    They (stock prices) are driven by how much investors are willing to pay for, or hang on to, or sell, individual stocks. World and US events can affect that, but the stock market has performed overall up and up regardless of the government's penchant for going over the budget.
    The overspending for individual items needs to be examined on a case by case basis, I have seen instances where it was justified, some not, and some are bs.
     
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  19. Vote4Future

    Vote4Future Well-Known Member

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    Your response failed to address any facts presented. Joe Biden is the common failing point.
     
  20. omni

    omni Well-Known Member

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    Trump added $8 trillion to the debt. We are feeling the effects.
     
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  21. balancing act

    balancing act Well-Known Member

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    I can't agree, dispute or be neutral on points I don't understand.
    Example: why is the ocean blue? Because tires are made of carbon black. I don't see the correlation.
    Can you explain why you say that those items listed made the stock market drop?
     
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  22. jcarlilesiu

    jcarlilesiu Well-Known Member Past Donor

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    We could start by addressing the shut down on US energy production, evaluate if printing money to pay off student loans and send to Ukraine is in the best interests, and work to address some of the supply chain issues that have much to do with underfunded international ports.

    Why does the left get to suddenly pretend policy doesn't have consequences. This is where the rubber hits the road. The left doesn't get to implore their ideal based on fantasy land agendas, and then be completely "what do you expect we do?". Stop doing, and stop supporting policy that is bad.

    The left has made it very clear that green policies trump energy costs. Ok, fine. That's their agenda, now defend it.
     
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  23. jcarlilesiu

    jcarlilesiu Well-Known Member Past Donor

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  24. jcarlilesiu

    jcarlilesiu Well-Known Member Past Donor

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    Ahh, another one that bails on the topic and tries to derail the **** storm that is a democrat led government.

    Doesn't it get exhausting having to constantly defend this **** show?
     
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  25. Kranes56

    Kranes56 Banned

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    Nope. Not my burden of proof. That is the job of the OP every thread. To come up with an acceptable standard for people to respond to. And if they cannot defend it they shouldn’t have posted the thread in the first place.
     
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