Is that the light at the end of the tunnel? (O.T. Thread)

[JDD]

The open is about to be a fun one tomorrow 

[DawgX]

On 7/13/2022 at 9:39 PM, candyman93 said:

Not sure if anybody follows hockey but the Columbus Blue Jackets just signed a fantastic player (Johnny Gaudreau). CBJ was having a rep as a team players avoided too, which is what makes it so shocking.

 

Best comp I can make is if the Sacramento Kings signed Joel Embiid. Just completely random and nobody expected it.

 

 

That's insulting to the Blue Jackets lol

[sdrawkcab321]

On 7/13/2022 at 9:39 PM, candyman93 said:

Not sure if anybody follows hockey but the Columbus Blue Jackets just signed a fantastic player (Johnny Gaudreau). CBJ was having a rep as a team players avoided too, which is what makes it so shocking.

 

Best comp I can make is if the Sacramento Kings signed Joel Embiid. Just completely random and nobody expected it.

 

 

I think it’s more like the Orlando magic signing prime John wall. He’s a great playmaker and good scorer. One of the best play makers the past 8 years. It makes zero sense why he would sign here but I’ll take it. He turned down a lot of money elsewhere. I haven’t been to a jackets game in a long time but I’ll have to make the trip this year. 
 

ultimately I don’t think he’s long for the franchise. Philly is where his heart is. That’s where he wanted to play that’s where he’s from but they couldn’t make the money work. And Columbus doesn’t keep stars around that long. I think he ends up getting traded there in a few years for a nice haul. 

[Kiwibrown]

Inflation in nz is at 7.3% how you guys doing? 

[NudeTayne]

1 hour ago, Kiwibrown said:

Inflation in nz is at 7.3% how you guys doing? 

Worse

[candyman93]

5 hours ago, Kiwibrown said:

Inflation in nz is at 7.3% how you guys doing? 

Nothing makes sense. Inflation is reported as 9.1%, which is a crock. It’s probably more like 18.2%

 

We’re probably in a recession technically. Our GDP will be negative when the numbers get released.

 

However, our job market is amazing right now. Unemployment is super low and we can’t get people to take jobs here. It’s a reason why we have so many supply chain issues.

 

This guy had an interesting take- What if we’ve been in a depression period since 2007? He explains what he means around 4:25 - 7:25. A point he made that was important: People misunderstand that during the Great Depression, stock markets still technically grew and people could still get loans. It was just incredibly slow.

 

 

Edited July 18, 2022 by candyman93

[Kiwibrown]

4 hours ago, NudeTayne said:

Worse

Like @candyman93 said we are probably higher than 7.3% as well,  essentials are getting worse, fuel our fuel is up 50%and food must be up 10% at min, we are buying lower quality food now. 

 

Our hyperinflated housing market has dropped a little probably falsely pushed our inflation down, as many people are locked into bad mortgages. The people who will benefit from the drop in houses prices are a few you g people trying to get into them and then people with assets able to bit more 

Edited July 18, 2022 by Kiwibrown

[MWil23]

1 hour ago, candyman93 said:

This guy had an interesting take- What if we’ve been in a depression period since 2007? He explains what he means around 4:25 - 7:25. A point he made that was important: People misunderstand that during the Great Depression, stock markets still technically grew and people could still get loans. It was just incredibly slow.

I get what he’s saying to a degree, but during the Depression unemployment was around 25% with a peak in big cities of 50%, with THOUSANDS of banks closing nationwide (30% between 1929-1933), and if yours was one of them, you lost everything and could have had your loans called due and have been foreclosed upon or lost your life savings.

So yeah, if you want to include the first and second new deal, much of which the Supreme Court declared unconstitutional and as a result we saw a bad recorrect from 1936-1940 as a result, ultimately with WWII ending it altogether, sure.

[MWil23]

But @candyman93 he’s definitely right on all of these measures put into place such as central banking and the fed not working like was promised and these government economists blew it there. Then again, social security is the greatest Ponzi scheme ever created with their legalized theft…I mean “loans from the American people without asking them while making them pay into it and then arbitrarily raising the retirement age.”

[LETSGOBROWNIES]

1 hour ago, MWil23 said:

But @candyman93 he’s definitely right on all of these measures put into place such as central banking and the fed not working like was promised and these government economists blew it there. Then again, social security is the greatest Ponzi scheme ever created with their legalized theft…I mean “loans from the American people without asking them while making them pay into it and then arbitrarily raising the retirement age.”

To be fair, the age as it relates to life expectancy has actually decreased from its inception.

Life expectancy was 65 when it was started, it’s like mid 70’s now. And iirc that number is actually higher if you actually make it to retirement age.

It’s an imperfect system for sure, and it needs refinement, but I’m not sure there’s a better alternative.

[candyman93]

2 hours ago, MWil23 said:

I get what he’s saying to a degree, but during the Depression unemployment was around 25% with a peak in big cities of 50%, with THOUSANDS of banks closing nationwide (30% between 1929-1933), and if yours was one of them, you lost everything and could have had your loans called due and have been foreclosed upon or lost your life savings.

So yeah, if you want to include the first and second new deal, much of which the Supreme Court declared unconstitutional and as a result we saw a bad recorrect from 1936-1940 as a result, ultimately with WWII ending it altogether, sure.

What if it’s like the long depression?

 

https://en.m.wikipedia.org/wiki/Long_Depression

 

His point is very valid. There’s something extremely wrong with our slow growth in the economy. I’m not talking about fake stock market bubbles.

 

We never recovered well from 2008 and it’s led to very intense anger and turmoil. COVID just merely shook the cobwebs off of the reality.

[dll2000]

35 minutes ago, LETSGOBROWNIES said:

To be fair, the age as it relates to life expectancy has actually decreased from its inception.

Life expectancy was 65 when it was started, it’s like mid 70’s now. And iirc that number is actually higher if you actually make it to retirement age.

It’s an imperfect system for sure, and it needs refinement, but I’m not sure there’s a better alternative.

A forced savings account isn’t worst idea, but letting govt. have access to it and control it has made it a joke.  

It absolutely is a ponzi scheme as run and would have collapsed like all Ponzi schemes do eventually, but for ability to borrow and print money.  

[LETSGOBROWNIES]

8 minutes ago, dll2000 said:

A forced savings account isn’t worst idea, but letting govt. have access to it and control it has made it a joke.  
 

So who controls it then? The individual?  I think you’re overestimating the financial literacy of a large portion of the county.

It’s not meant to be a retirement fund, it’s mean to be a social safety net.

If you’re saying it needs to be reworked and could be made better or funded differently, cool, I’m all ears, but eliminating a basic safety net for people who are otherwise unable to support themselves in many cases isn’t a step in the right direction imo.

[candyman93]

23 minutes ago, LETSGOBROWNIES said:

So who controls it then? The individual?  I think you’re overestimating the financial literacy of a large portion of the county.

It’s not meant to be a retirement fund, it’s mean to be a social safety net.

If you’re saying it needs to be reworked and could be made better or funded differently, cool, I’m all ears, but eliminating a basic safety net for people who are otherwise unable to support themselves in many cases isn’t a step in the right direction imo.

With a declining birth rate those people are gonna need all the help they can get too.

[MWil23]

1 hour ago, LETSGOBROWNIES said:

To be fair, the age as it relates to life expectancy has actually decreased from its inception.

Life expectancy was 65 when it was started, it’s like mid 70’s now. And iirc that number is actually higher if you actually make it to retirement age.

It’s an imperfect system for sure, and it needs refinement, but I’m not sure there’s a better alternative.

There is absolutely a better alternative. Don’t steal from us, and even better yet, let me do whatever I want with my money, or at least if you force me to invest it then let me choose an IRA, Roth, or any other privatized fund that’ll bet a lot more for me or my loved ones should I die before I can collect.

59 minutes ago, candyman93 said:

What if it’s like the long depression?

 

https://en.m.wikipedia.org/wiki/Long_Depression

 

His point is very valid. There’s something extremely wrong with our slow growth in the economy. I’m not talking about fake stock market bubbles.

 

We never recovered well from 2008 and it’s led to very intense anger and turmoil. COVID just merely shook the cobwebs off of the reality.

The long depression was a foregone conclusion after the abolition of slavery (thank goodness for that) and subsequent impact on the economy prior to industrialization with reconstruction.

As for not recovering, stealing trillions from social security and Americans while accumulating $30+ trillion in debt over 4 presidential administrations will do that.