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2020 Democratic Presidential Nominees

It is pretty impressive that despite what appears to still be a fairly healthy overall economy (though things like GDP and wage growth are trending the wrong way), Trump manages to be so unpopular
 
Buttermaker said:
who is the 4th? Pete? Bloomberg?
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Endorsing Bloomberg would hurt a moderate Dem Senator who plans to go up for re-election.

06deacon said:
I’ve had conversations with coworkers who say this. They say they don’t care about anything but their 401k.

This argument seems to come most frequently from the non-rich who probably have modest middle-class level 401k balances. So it’s just more of the same GOP supporter sentiment - mediocre white people desperate to keep a foothold above others.
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Yep. It’s a weird thing for middle age people to sit and watch their 401Ks especially after we personally experienced the Great Recession in the early stages of our careers. It could disappear. People in their 40s concerned about their financial wellbeing in their late 60s and 70+ should be more worried about social security, Medicare, and Medicaid than money that may or may not be ere when you need it. Bragging about your 401K is like bragging that every month you make 2 to 1 bet the NFC is going to win 50% or more of the Super Bowls between your 25th and 70th birthday. Solid chance of a payout if you make it that long but a chance you’ll die before then anyway. Just a weird thing to be overly concerned about in your 40s.

Shooshmoo said:
All the more frustrating because both the market and 401(k)s did just as well if not better under Obama and he had to dig out of W's hole (which is a gross thing to say). Setting aside the complete un-Christian selfishness of conservatives who care only about how their 401(k)s are doing -- which is not a new, Trump thing at all -- they're just wrong and have been so hynotized/programmed to believe the lie their minds cannot be changed.
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Yep. And if the economy tanks, they’ll blame the Dems or something.
 
ChrisL68 said:
Most of the Nordic countries have welfare states, but they have figured out that the way to tax income is at the individual level. Reverting to 35% corporate tax rates is dumb, dumb, dumb.
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But they might all relo to Ireland!!
 
PhDeac said:
Yep. It’s a weird thing for middle age people to sit and watch their 401Ks especially after we personally experienced the Great Recession in the early stages of our careers. It could disappear. People in their 40s concerned about their financial wellbeing in their late 60s and 70+ should be more worried about social security, Medicare, and Medicaid than money that may or may not be ere when you need it. Bragging about your 401K is like bragging that every month you make 2 to 1 bet the NFC is going to win 50% or more of the Super Bowls between your 25th and 70th birthday. Solid chance of a payout if you make it that long but a chance you’ll die before then anyway. Just a weird thing to be overly concerned about in your 40s.



Yep. And if the economy tanks, they’ll blame the Dems or something.
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If you stayed in the market, you were back ahead of the game within 2-3 years even after an historic downturn. Earlier if you kept investing in the downturn.

If SS is your retirement plan, then good luck with that. Not everybody has a pension.

Looking at historical stock market returns, it's pretty much a guaranteed long term winner. If your investment in the stock market disappears then say goodbye to functioning society and government as well.
 
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WFcatamount22 said:
We are the peak of the greatest economy in the history of human civilization and y’all want to give socialism a try? Fuck off.
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Perseus wore a magic cap down over his eyes and ears as a make-believe that there are no monsters.
 
ChrisL68 said:
If you stayed in the market, you were back ahead of the game within 2-3 years even after an historic downturn. Earlier if you kept investing in the downturn.

If SS is your retirement plan, then good luck with that. Not everybody has a pension.

Looking at historical stock market returns, it's pretty much a guaranteed long term winner. If your investment in the stock market disappears then say goodbye to functioning society and government as well.
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Sure. It’s still a very long term bet you may not even get to see. That doesn’t even include not knowing about inflation, health care costs, etc in the future. I’m not saying it’s bad to have a 401K. I’m saying it’s a weird thing to brag about and a weirder thing to base your vote on.
 
The 401k argument for anyone under 50 is stupid because you are so far from pulling from it who really gives a fuck. Also using it as a metric for how well the economy is doing is even dumber. Only about half of people even have an account, and those that do have an account the overall average in that account is like 150,000, yeah living that rich man life when it comes to retirement.

It’s easy to look at the world view when you are on a board full of people that have professional degrees and careers but it’s not the real world. The majority of Americans have no emergency savings, have massive credit card and student loan debts and no retirement accounts. The proposals that people like Sanders and Warren put out would most likely help 80% or more of people especially a large segment that will vote against them be it from misinformation and propaganda or “Christian values”.

What I don’t understand is people like ChrisL or Whatamount that while the economy is working for them now don’t realize its base is crumbling and while you are well off you aren’t well off enough to make it to the floating city in the sky with the billionaires when the climate becomes unsustainable, or hold up on New Zealand while society collapses. I’d rather get taxed some, the billionaire class get fucked and have some short economic pains that make the economy work for more people than be a selfish prick that thinks all’s good because my 401k is up 18%.
 
PhDeac said:
Yep. It’s a weird thing for middle age people to sit and watch their 401Ks especially after we personally experienced the Great Recession in the early stages of our careers. It could disappear. People in their 40s concerned about their financial wellbeing in their late 60s and 70+ should be more worried about social security, Medicare, and Medicaid than money that may or may not be ere when you need it. Bragging about your 401K is like bragging that every month you make 2 to 1 bet the NFC is going to win 50% or more of the Super Bowls between your 25th and 70th birthday. Solid chance of a payout if you make it that long but a chance you’ll die before then anyway. Just a weird thing to be overly concerned about in your 40s.
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Well that’s not exactly what I was saying. That’s basically the opposite of good personal financial planning. I was saying the folks bragging about and basing their vote on their 401k balances are the ones who don’t save enough in it anyway.
 
Louis Gossett Jr said:
The 401k argument for anyone under 50 is stupid because you are so far from pulling from it who really gives a fuck. Also using it as a metric for how well the economy is doing is even dumber. Only about half of people even have an account, and those that do have an account the overall average in that account is like 150,000, yeah living that rich man life when it comes to retirement.

It’s easy to look at the world view when you are on a board full of people that have professional degrees and careers but it’s not the real world. The majority of Americans have no emergency savings, have massive credit card and student loan debts and no retirement accounts. The proposals that people like Sanders and Warren put out would most likely help 80% or more of people especially a large segment that will vote against them be it from misinformation and propaganda or “Christian values”.

What I don’t understand is people like ChrisL or Whatamount that while the economy is working for them now don’t realize its base is crumbling and while you are well off you aren’t well off enough to make it to the floating city in the sky with the billionaires when the climate becomes unsustainable, or hold up on New Zealand while society collapses. I’d rather get taxed some, the billionaire class get fucked and have some short economic pains that make the economy work for more people than be a selfish prick that thinks all’s good because my 401k is up 18%.
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That’s much closer to what I was saying.
 
Louis Gossett Jr said:
The 401k argument for anyone under 50 is stupid because you are so far from pulling from it who really gives a fuck. Also using it as a metric for how well the economy is doing is even dumber. Only about half of people even have an account, and those that do have an account the overall average in that account is like 150,000, yeah living that rich man life when it comes to retirement.

It’s easy to look at the world view when you are on a board full of people that have professional degrees and careers but it’s not the real world. The majority of Americans have no emergency savings, have massive credit card and student loan debts and no retirement accounts. The proposals that people like Sanders and Warren put out would most likely help 80% or more of people especially a large segment that will vote against them be it from misinformation and propaganda or “Christian values”.

What I don’t understand is people like ChrisL or Whatamount that while the economy is working for them now don’t realize its base is crumbling and while you are well off you aren’t well off enough to make it to the floating city in the sky with the billionaires when the climate becomes unsustainable, or hold up on New Zealand while society collapses. I’d rather get taxed some, the billionaire class get fucked and have some short economic pains that make the economy work for more people than be a selfish prick that thinks all’s good because my 401k is up 18%.
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Yep. And 80% seems low. Most of the other 20% will benefit from the increased purchasing power of that 80%.
 
ImTheCaptain said:
where can i get that magic cap?
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Disney World. Ph can probably pick one up for you.

walt-disney-world-sorcerers_1_a7ac7375f07414bf184b431c14e164db.jpg
 
PhDeac said:
Yep. And 80% seems low. Most of the other 20% will benefit from the increased purchasing power of that 80%.
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Yeah also probably correct where sure there might be some initial market corrections but overall more people without debt and with money will be better for everyone.
 
Unless something bizarre happens or some massive inventions happen, a downturn in the market during the next four years is inevitable. This has already been the longest upturn.
 
Had no idea so many economic and market gurus posted on The Tunnels.

Need to start logging in more to take advantage of all of this free financial advice.
 
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