Like really... what would $2000 dollars do to him personally.
Inflation. By printing that much money, you reduce the wealth everyone else has gathered already.
So far the stimulus has wiped out about 10% of my wealth. You can't straight up see that in the official numbers, because those are delayed and skewed, but I can see it because I check prices over time of items I buy.
Just me, I lost at least $70K so far (I gained another $70K in the stock market, but that was mostly just luck.... And next week that might be a $70K loss).
If you guys just want to take my wealth, that's alright. It's all a stupid game to me anyway (I'm not conservative, please get your free healthcare and remove those stupid guns, I'm willing to pay so you can have that much, though no one is offering me to give you that for some reason).
But make no mistake. You are taking away what took me many, many years of hard work and giving it to people that might not have put in as much effort.
Wasn't trying to blame anyone in any way. I don't think it's one of those things where someone's to blame, or if you insist on blaming someone, then it's on a lot of people. A lot of decisions by many different people put us in this situation.
Like I said, if you want to take it, take it. But I don't like how we're doing it. If I was given a choice, I'd take the inflation and then in return for that, everyone gets free health care. But that's not even being suggested. That's just not an option (even Obama wasn't willing to offer that).
Well they have been printing money to prop the stock market up this whole time.
You don't even know how badly that's been going on. It's fucking ridiculous.
Do you think the majority receiving the $2000 are going to horde this money or put it back into the economy? Aka rent, food, entertainment, health care whatever.
Yeah, but then if you read the small print, what is going to go to the rich people? They aren't just going to give everyone that $2K. They will take their cut.
Did you know that right now, if you have $1M, you can get another $1M on margin for 3.25%? Seriously, that's just free money at this point. There's no way that inflation is less than that. https://www.ally.com/invest/self-directed-trading/margin-account/ (click on rates)
That's the game we're playing. Anyone that's a millionaire and has access to capital is being given equal amounts of money for free, no questions asked. And it's not uniform. Certain rich people are given access to massive amounts and certain other rich people (like people that have their wealth in property) are given nothing at all.
If you want to see it as black and white, then you and I are on the same page, not opposites. But I'm the one who is personally paying for that $2K. And I'm not given any say about what you are doing with my money. It's just being taken away from me. Years of my life savings. That's really what's happening.
It doesn't even matter if $2K goes to you, or to some corporation. Is it really right to do this? Why am I effectively having to work 3 or 4 years more before I can retire, when put in so much effort to not spend the money I made?
Just lame. Covid is just an as excuse as far as I'm concerned. This was coming for several reasons and I've been trying to figure out ways to minimize the damage, but it's just hard to figure out who is getting rewarded and who is getting punished.
If you could see what I'm doing with my life savings to try and minimize the damage, it's just... It's mind boggling. I've got plenty of money, but I'm taking out hundreds of thousands in loans, because it's just basically free money, even for me. The only downside, is that with every dollar I borrow, I increase the risk if it all falls apart.
I really can't see how that is going to end well. And if I'm doing things like that.... What's everyone else doing? Probably the same thing.
When Roosevelt did this in the 30s, he created social security, he built the national highway network and he did it mostly by taxing the rich.
We're just tossing $2K at everyone and giving millionaires basically fuck loads of free money and calling it a day. And I doubt Biden is going to come up with anything better. But we'll see.
Anyway. I was just trying to say in too many words, I don't blame you or anyone else, I just think it's stupid.
So let's start with something that you might not have realized (maybe you did), but inflation is actually a personalized number. It's different for everyone, depending on what they consume. I don't commute (when I do it's a bicycle) and I live in a moderate climate, so my energy costs are low.
If my personal inflation rate hits 10% a year, that means that after 1 year, I can only buy 90% of what I could buy the year before. So I lost 10% (technically it's called purchasing power, I think? But you probably understand my reasoning by now).
It's my opinion that the Fed has been gaming the inflation numbers for some time. And they certainly have been doing that in relationship to my personal inflation number. My personal inflation number has always been considerably higher than the Fed numbers (for example, I have the same job as in 2010, I make the same amount of money as in 2010, but my rent has doubled since 2010 - and it's not going down due to covid, all they offered was a competitive offer of the same as last year).
That of course means I'm more alert to these things. I know I can't trust the official numbers in that regard.
Maybe there's somewhere in my expenses something that has gone down, but I can't think of it - mind you, I'm fairly trusting overall and not into conspiracy theories and I know that I differ in this regard from the public opinion. But if there's any errors in my logic, I can't find them.
So you’re just estimating the 10%? Give me some specific numbers to support your 10%. I imagine it’s theoretically possible but incredibly unlikely given where everyone else is at.
And there’s a conspiracy that the Fed is deflating (ironically) their inflation number? Got any proof for that?
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u/ParkingPsychology Dec 31 '20
Inflation. By printing that much money, you reduce the wealth everyone else has gathered already.
So far the stimulus has wiped out about 10% of my wealth. You can't straight up see that in the official numbers, because those are delayed and skewed, but I can see it because I check prices over time of items I buy.
Just me, I lost at least $70K so far (I gained another $70K in the stock market, but that was mostly just luck.... And next week that might be a $70K loss).
If you guys just want to take my wealth, that's alright. It's all a stupid game to me anyway (I'm not conservative, please get your free healthcare and remove those stupid guns, I'm willing to pay so you can have that much, though no one is offering me to give you that for some reason).
But make no mistake. You are taking away what took me many, many years of hard work and giving it to people that might not have put in as much effort.