The Biden administration (was: The NEW 2020 Election Thread)

[pilferk]

Right now the market volitility is based on stimulus predictions and the presidents health. Not his chances for reelection.

[jarmo]

Isn't it ironic that in the year 2020 an US election will be in focus for the same reasons as elections in developing countries.....





/jarmo

[tim_m]

Isn't it ironic that in the year 2020 an US election will be in focus for the same reasons as elections in developing countries.....





/jarmo


More terrifying then ironic.

[cineater]

Any stock market thoughts?  I'm getting if Biden wins, move to safer investments, it's going to drop and take some time to recover as his plans go into play.  I just got back in the black.  Don't know if I want to wait out another slow recovery.

I don't play, and if I did, it would only be an index fund. Anyone who gives you a prediction is full of shit. Ask a conservative and they'll say Biden=crash and Trump=bull market. Ask a progressive and they'll say the opposite. Either one is just trying to get your vote by way of scare tactics. The stock market really isn't terribly influenced by the president anyway, barring some radical changes being made.

Take from this what you may; wall street is backing Biden: https://www.cnn.com/2020/09/25/business/trump-biden-wall-street-campaign-donations/index.html

That said, the longer we keep this game of ever-increasing stock prices going, the more hollow our economy becomes, as value is generated less and less from actual productivity, and more from just shifting money around. There has to be liquidity in the consumer base, or else you're just heading for another crash. They're already leveraging the shit out of subprime auto loans just like they did houses back in 2007. Regardless of who is in the white house, that bubble will burst eventually, but luckily won't be as disastrous as in 2008 because people don't have as much tied up in their car as they do their home.

I don't play either.  It's a topic with my friends and family.  I'm in the long game but yeah, 2008 hurt!  I don't worry about a crash either.  We're all fucked if that happens whether you're in or out.  I don't find value in money until it's spent.  It's numbers on a piece of paper that go up and down.  I smile when it goes up and stop looking when it goes down. 

Stop reading CNN.  You'll end up a drama queen and shit disturber or totally freaked out.

[tim_m]

Any stock market thoughts?  I'm getting if Biden wins, move to safer investments, it's going to drop and take some time to recover as his plans go into play.  I just got back in the black.  Don't know if I want to wait out another slow recovery.

I don't play, and if I did, it would only be an index fund. Anyone who gives you a prediction is full of shit. Ask a conservative and they'll say Biden=crash and Trump=bull market. Ask a progressive and they'll say the opposite. Either one is just trying to get your vote by way of scare tactics. The stock market really isn't terribly influenced by the president anyway, barring some radical changes being made.

Take from this what you may; wall street is backing Biden: https://www.cnn.com/2020/09/25/business/trump-biden-wall-street-campaign-donations/index.html

That said, the longer we keep this game of ever-increasing stock prices going, the more hollow our economy becomes, as value is generated less and less from actual productivity, and more from just shifting money around. There has to be liquidity in the consumer base, or else you're just heading for another crash. They're already leveraging the shit out of subprime auto loans just like they did houses back in 2007. Regardless of who is in the white house, that bubble will burst eventually, but luckily won't be as disastrous as in 2008 because people don't have as much tied up in their car as they do their home.

I don't play either.  It's a topic with my friends and family.  I'm in the long game but yeah, 2008 hurt!  I don't worry about a crash either.  We're all fucked if that happens whether you're in or out.  I don't find value in money until it's spent.  It's numbers on a piece of paper that go up and down.  I smile when it goes up and stop looking when it goes down. 

Stop reading CNN.  You'll end up a drama queen and shit disturber or totally freaked out.

Too much focus on the markets imo. The markets aren't the economy. The only reason the markets are doing well is because of the tech companies are propping it up.

[cineater]

Any stock market thoughts?  I'm getting if Biden wins, move to safer investments, it's going to drop and take some time to recover as his plans go into play.  I just got back in the black.  Don't know if I want to wait out another slow recovery.

I don't play, and if I did, it would only be an index fund. Anyone who gives you a prediction is full of shit. Ask a conservative and they'll say Biden=crash and Trump=bull market. Ask a progressive and they'll say the opposite. Either one is just trying to get your vote by way of scare tactics. The stock market really isn't terribly influenced by the president anyway, barring some radical changes being made.

Take from this what you may; wall street is backing Biden: https://www.cnn.com/2020/09/25/business/trump-biden-wall-street-campaign-donations/index.html

That said, the longer we keep this game of ever-increasing stock prices going, the more hollow our economy becomes, as value is generated less and less from actual productivity, and more from just shifting money around. There has to be liquidity in the consumer base, or else you're just heading for another crash. They're already leveraging the shit out of subprime auto loans just like they did houses back in 2007. Regardless of who is in the white house, that bubble will burst eventually, but luckily won't be as disastrous as in 2008 because people don't have as much tied up in their car as they do their home.

I don't play either.  It's a topic with my friends and family.  I'm in the long game but yeah, 2008 hurt!  I don't worry about a crash either.  We're all fucked if that happens whether you're in or out.  I don't find value in money until it's spent.  It's numbers on a piece of paper that go up and down.  I smile when it goes up and stop looking when it goes down. 

Stop reading CNN.  You'll end up a drama queen and shit disturber or totally freaked out.

Too much focus on the markets imo. The markets aren't the economy. The only reason the markets are doing well is because of the tech companies are propping it up.

It's important for the middle class retirement funds.  As that one person said 55% of people are in the market.  I don't know how much of the wealth/savings of all the people are in that.  How many times have they said you can't count on social security?  And that's one of the tax breaks the little guy gets by putting money into retirement funds.  I would not underestimate the importance of the health of the market to people.

[PermissionToLand]

I don't play either.  It's a topic with my friends and family.  I'm in the long game but yeah, 2008 hurt!  I don't worry about a crash either.  We're all fucked if that happens whether you're in or out.  I don't find value in money until it's spent.  It's numbers on a piece of paper that go up and down.  I smile when it goes up and stop looking when it goes down.  

Stop reading CNN.  You'll end up a drama queen and shit disturber or totally freaked out.

I read lots of outlets and CNN is pretty average and unremarkable. Your comment is very strange.

Edit: I forgot to add that CNN is far from the only outlet which reported on that. Even freaking Wall Street Journal did. Take your pick:

https://www.npr.org/2020/08/17/902626429/wall-streets-big-money-is-betting-on-biden-and-democrats-in-2020

https://www.nbcnews.com/business/economy/why-wall-street-warming-biden-despite-his-policies-n1242416

https://www.nytimes.com/2020/08/09/business/joe-biden-wall-street.html

https://www.wsj.com/articles/wall-street-turns-bullish-on-biden-11594929896

It's important for the middle class retirement funds.  As that one person said 55% of people are in the market.  I don't know how much of the wealth/savings of all the people are in that.  How many times have they said you can't count on social security?  And that's one of the tax breaks the little guy gets by putting money into retirement funds.  I would not underestimate the importance of the health of the market to people.

It doesn't matter how your 401k is doing if you can't afford to even put money into it in the first place. We need to be focusing more on the wages and benefits of the American worker than the stock market. We shouldn't even have 401ks, they were a scheme by corporate America to shift the risk and burden of retirement onto the workers.

[PermissionToLand]

This is appalling. This violent criminal was put on a pedestal by the GOP.

https://nypost.com/2020/10/10/nurse-who-spoke-at-2020-rnc-busted-for-shooting-woman/?fbclid=IwAR1_bm7btCmruoxfQb-4-2-k7pFD3N4LtnblL-bryU76qXpnChxNz_eMpbY&utm_source=reddit.com

Biden 2020: Law and Order

[tim_m]

Yep i saw that yesterday, but the left is rioting and burning down cities, meanwhile the right is conspiring to overthrow state governments and take over police departments.

[pilferk]

It's important for the middle class retirement funds.  As that one person said 55% of people are in the market.  I don't know how much of the wealth/savings of all the people are in that.  How many times have they said you can't count on social security?  And that's one of the tax breaks the little guy gets by putting money into retirement funds.  I would not underestimate the importance of the health of the market to people.

55% of all people.  Not 55% of the middle class. And only 14% of the population have money directly in the market.  The rest is in retirement income.

Less than 25% of "blue color" workers have anything in the market.  Depending on how you define "middle class", that segment is somewhere between 30% and 45%, 85% of that in retirement accounts.

That speaks to a startling discrepancy over who has money in the market, and who doesn't.

And even those that do, and are defined as middle class...the average investment for those folks is under 30k.  

Those percentages and amounts are lower....a LOT lower...if you look at the minority segments of those demos.

The market is not the economy.  The market is the indicator, in general, of how old, white, affluent men are doing.

The rich play the market, the middle class buy homes, and the blue collar struggle to do either.

Guess which segment is the smallest?

Edit: If stock market is your concern right now, you'd want to vote for Biden. Wall Street has accessed both economic plans and Biden's yields more jobs and more economic growth (by about a trillion dollars) vs Trumps.  In addition, with Biden, economists see a much less volatile market because his actions have typically been less volatile.

[jarmo]

More terrifying then ironic.

Both.


It's like if he came out and said "Our country is one of those places I called shithole countries".

People would be pissed at anyone who would say that. Because, well, USA is the best...




/jarmo

[PermissionToLand]

55% of all people.  Not 55% of the middle class. And only 14% of the population have money directly in the market.  The rest is in retirement income.

Less than 25% of "blue color" workers have anything in the market.  Depending on how you define "middle class", that segment is somewhere between 30% and 45%, 85% of that in retirement accounts.

That speaks to a startling discrepancy over who has money in the market, and who doesn't.

And even those that do, and are defined as middle class...the average investment for those folks is under 30k.  

Those percentages and amounts are lower....a LOT lower...if you look at the minority segments of those demos.

The market is not the economy.  The market is the indicator, in general, of how old, white, affluent men are doing.

The rich play the market, the middle class buy homes, and the blue collar struggle to do either.

Guess which segment is the smallest?

Edit: If stock market is your concern right now, you'd want to vote for Biden. Wall Street has accessed both economic plans and Biden's yields more jobs and more economic growth (by about a trillion dollars) vs Trumps.  In addition, with Biden, economists see a much less volatile market because his actions have typically been less volatile.

Bingo, focusing on the stock market leaves the very Americans who are most in need out of the discussion entirely.

[PermissionToLand]

This is just insanity. We cannot have these lawless violent criminals continue being encouraged by the highest office in the land as they literally threaten to murder our children.

https://www.dailydot.com/irl/trump-supporter-gun-teens/

And this guy would have been called a "responsible, law-abiding gun owner" by the right. They're all "responsible gun owners" right up until they aren't.

[PermissionToLand]

The Taliban Endorses Trump's Re-Election

https://www.cbsnews.com/news/taliban-on-trump-we-hope-he-will-win-the-election-withdraw-us-troops/

[tim_m]

The Taliban Endorses Trump's Re-Election

https://www.cbsnews.com/news/taliban-on-trump-we-hope-he-will-win-the-election-withdraw-us-troops/

He's sure getting some ringing endorsements. 

[PermissionToLand]

Now they're setting up fake drop boxes to STEAL BALLOTS.

When the GOP is getting this brazen about stealing an election, we cannot be timid in calling them out as the Fascists they are. Our country depends on it. They don't give a fuck about Democracy, the Constitution or any of America's values. You have to wonder why they don't just leave if they hate America so much?

https://slate.com/news-and-politics/2020/10/california-republicans-drop-boxes-ballot-harvesting-fraud.html

[tim_m]

Now they're setting up fake drop boxes to STEAL BALLOTS.

When the GOP is getting this brazen about stealing an election, we cannot be timid in calling them out as the Fascists they are. Our country depends on it. They don't give a fuck about Democracy, the Constitution or any of America's values. You have to wonder why they don't just leave if they hate America so much?

https://slate.com/news-and-politics/2020/10/california-republicans-drop-boxes-ballot-harvesting-fraud.html

And yet people like my mom think we're socialist communists ego want a society where we tell everyone what they can do. This is a crime punishable to to 4 years in prison. They are the ones more often then not being caught for fraud. Everyone is being caught whether it's Republicans or Democrats. In my city a candidate for mayor got caught and he only had just over 100 ballots, if you can't get away with such a small amount of fraud, it underscores the v Republicans entire argument that it is widespread on a large scale.

[cineater]

Apparently there are people concerned about a balanced budget or trying to get there.  Committee for a Responsible Federal Budget, http://www.crfb.org/.  Impressive people on their on their board.  They are warning the debt is now likely to exceed the size of the economy as soon as next year.  

Ooops, sorry, an article a few days later says we got there, debt exceeds size of the economy.

As the average Jane, I vote we legalize marijuana, get that industry up and going and tax the hell out of it.  Going to party our way out of this one. 

[tim_m]

I'd personally say end the war on drugs entirely and make them all legal and tax them. Other countries have done so successfully.

[cineater]

I'd personally say end the war on drugs entirely and make them all legal and tax them. Other countries have done so successfully.

I was going to include a few muscle relaxers and pain pills in there but let's let the insurance companies pay for those.