Your Comment on Corporate Bankruptcies
[QUOTE=ILuvEmall;6357187]Don't mind NewDude, he's an idiot who made up his post in a weak attempt to mischaracterize what I said. Take it with a grain of salt- this is the same idiot who claimed that the cops who shot Rayshard Brooks would be found guilty of murder (the officers were reinstated and given back pay for their time off). The same fool that stated APD are the highest paid cops in the country (completely false & made up stat). The same fool that said there's no problem with the economy and everyone's doing great (meanwhile, inflation's been at 40-yr highs, personal debt levels also just hit all-time highs, and corporate bankruptcies at the highest levels since the Great Financial Crisis). He's also the same fool who made disgusting, pejorative, race-baiting comments. Yeah, he's real good with the facts and very credible. He makes a great case to back up his claims that he's so much smarter, better educated, and richer than all those poor, ignorant, dumb white people, doesn't he?[/QUOTE]Well that comment on bankruptcies turned out to be quite prophetic. With Silicon Valley Bank leading the way we now have a banking failure that has spread and is still not defined. Frustrating that the failure mechanism is the same for all and could be identified and better managed by a Sophomore Finance major. They all were holding long dated paper (T bills, bonds, etc) that was becoming less valuable with each rate hike by the Federal reserve. When finally forced to sell this paper they did so at a huge loss. I sold every single share of a bond FUND I held in Jan 2022. Not rocket science. Rates were headed up. I had to sit on the cash for around 10 months before I started buying short dated Treasury Coupons (3 or 6 months) that recently got up to around 5%. Wish I had more cash.
So the frustrating part is all my bank stocks and financial ETF's have gotten clobbered while the offending banks are all going to be bailed out. All this why the C level guys make 3-10 million per year for twiddling their thumbs. Hope Congress moves swiftly to make those responsible pay every dime of their multimillion dollar bonuses back to the taxpayer that is funding yet another bailout. Hoping we can get through the week without another idiot announcing that his bank is insolvent.
Good luck finding a Lift here!
[QUOTE=Androo75;6409785]Gents-.
Diverse group here, and as a senior member I'm calling in a favor for perspective and expertise.
Why?
I'm just questioning everything and heartbroken about the future.
1. Where are we as a country?
2. Have you lost faith in general?
3. Irrespective of the above questions, are you optimistic?
When you answer it would be helpful to know age / race for context, if you want.
Yeah yeah, I know take it all with a grain of salt. But guys, I need a lift.[/QUOTE]58 year old white dude.
I am a small business owner, despite everything going on, the last 2 years my business has been very strong.
Much of what we sell into, Biden pulled the plug on first 2 days in office. But somehow business continues.
My biggest problem is having a good pool of people to hire from- that has been that way for at least last 4 years.
Things that scare me on both fronts- Personal and Business: Higher Taxes, Cash going away- becoming all electronic money, Bank Failures, continuing to give money we don't have to other countries, continuing to print money for God knows what programs our President and constituents want to spend money on, and of course War with any other country.
Have I lost faith? Not yet.
I am unhappy in America today- but have been for a long while now, there are a lot of reasons for this unhappiness. Probably the biggest reason is how undivided America has gotten.
Planning my retirement is 7 years or less if I get lucky and win the lottery, I am planning on going to another country to live out my remaining days. There are several places that are not undivided like the US has gotten. There are plenty of places that live free and without fear of the government.
Am I optimistic? I am of my future- if I can just get there!
Stay astonished, my friend
[QUOTE=Surch2020;6453537]After all that's been revealed about Trump (that of course was obvious in 2016) I find it astonishing that there are still people who can't see, or refuse to admit, what a fool traitor he is. How many people have to go to jail, lose their law license, or pay a billion dollar fine before the gullible will admit their mistake?[/QUOTE]And Joe Biden is Abraham Lincoln? Not going to argue with your type anymore. Believe what you must while your country is dissolved right in front of you. MAGA is all your type knows, sees, hears, and breathes. Sad and pathetic. Talk about refusing to admit a mistake? When you point that MAGA finger at people you've got three more pointing right back at you. Unfortunately that point is completely lost on someone who has been so media and Joe Biden brainwashed that he can't see the real forest for the trees. Good luck out there.
You need to do your homework
The ONLY elected official in Washington with a guaranteed pension is the President who gets 50%. The rest pay into a retirement fund and it depends on years served, age at drawing, and amount paid in. The days of automatic pension without with Dan Rostenkowski. I have done the research. As far as insider info, The DemonCrats are the worst at that game. Look at Nancy Pelosi.
[QUOTE=AvgJhsn;6455104]Where else can you get a job and after 8 years retire with 3/4 pay and full medical for life? Or that innocent stock / company tip yo hear at a gathering that boosts your portfolio and gets you arrested, but legal for them? Or the number of them that consistently (knowingly) write bad checks with no repercussions (house bank is private entity)? Where else can you come in a pauper and leave a millionaire?
The rhino former leader of the senate wife's family (Chinese) controls the largest shipping company in China and owns several major ports on the west coast and worldwide, but there was never any conflict of interest. Jan. 6 should've been a wakeup, but instead they reacted in dictatorial fashion. They have gone so far as to obtain a list of all people flying in and out of DC that week, and when they fly place an air marshal next to them to try and incriminate themselves (friend in airline talking to a air marshal), (trying to confirm). The founding fathers never meant or dreamed that it would become a profession. Why? They all had businesses and farms to run. They got together, did what needed to be done and went home. Maybe we need to get back to that, or better yet, make it not so lucrative to be a federal politician. One can always hope.[/QUOTE]