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Message
re: CNN article: Americans have never been wealthier
Posted on 9/11/23 at 3:43 pm to RLDSC FAN
Posted on 9/11/23 at 3:43 pm to RLDSC FAN
quote:
This bump in wealth was driven mostly by a surge in the value of Americans’ stock market investments, which grew by $2.6 trillion during the quarter. Real estate holdings, including the value of homes, increased by $2.5 trillion
Nevermind that these are unrealized capital gains…something this administration specifically targeted for a new tax. Disingenuous clowns.
0
Posted on 9/11/23 at 3:43 pm to phunkatron
there it is. good one.
what else ya got?
what else ya got?
Posted on 9/11/23 at 3:47 pm to RLDSC FAN
Expect propaganda bullshite like this at least once a month for the next 13 months. They're going to tell you NOT to believe what your eyes are seeing again.
Posted on 9/11/23 at 3:47 pm to TheMollusk
quote:
Where were you on 9/11/2001?
Watching the second strike on a tv in Montgomery Regional Airport in Alabama; why?
Posted on 9/11/23 at 3:48 pm to RLDSC FAN
It was a central tenet of my childhood: that I am incredibly lucky to have been born in the United States. I travel a good bit, and I still feel that way. Insurance or mortgage rates high? Live in a smaller house. Private school tuition got you in debt? Move to a better public school district or teach your kids at home. Can't afford to buy Taylor Swift tickets for your daughter? Boo hoo. Strip away 90% of the shite you think is essential, and you are still way better off than almost anywhere else. We, as a nation, are incredibly wealthy. We, as a nation, don't feel incredibly wealthy, because we are spoiled.
Posted on 9/11/23 at 3:51 pm to vistajay
quote:
It was a central tenet of my childhood: that I am incredibly lucky to have been born in the United States. I travel a good bit, and I still feel that way. Insurance or mortgage rates high? Live in a smaller house. Private school tuition got you in debt? Move to a better public school district or teach your kids at home. Can't afford to buy Taylor Swift tickets for your daughter? Boo hoo. Strip away 90% of the shite you think is essential, and you are still way better off than almost anywhere else. We, as a nation, are incredibly wealthy. We, as a nation, don't feel incredibly wealthy, because we are spoiled.
What about those struggling to buy a house even though they got a great degree and have a good job? So many costs have skyrocketed while wages have stayed stagnant. But then I just have to read shite takes like this, avacado toast and Starbucks coffees are why people can't afford houses.
Posted on 9/11/23 at 3:54 pm to Klark Kent
quote:
looking forward to the OT Centrists centrist-ing their way through this one.
What if I'm a centrist and I think the article is bullshite? I don't know about you, but I sure as hell don't feel wealthier than I've ever been. Sure, my investments may have a higher dollar amount these days, but those same dollars don't go very far.
Posted on 9/11/23 at 3:55 pm to BottomlandBrew
i italicize the ‘Centrist’ in OT Centrist for a reason. It may not apply to you.
Posted on 9/11/23 at 3:56 pm to RLDSC FAN
You gotta love when the left is promoting wealth disparities as a positive sign for the economy
Posted on 9/11/23 at 3:56 pm to RLDSC FAN
The Stock market is not losing every day but my mutual fund is still worth 30% less than it was when Trump was still in office. So even if groceries and housing and other goods and services were affordable (which they aren't) I am still down in my investments. So sorry CNN, you are full of shite
This post was edited on 9/11/23 at 3:57 pm
Posted on 9/11/23 at 3:58 pm to RLDSC FAN
quote:
This bump in wealth was driven mostly by a surge in the value of Americans’ stock market investments,
When was this? The DOW has been stagnant this year
Posted on 9/11/23 at 4:00 pm to statman34
quote:
The Stock market is not losing every day but my mutual fund is still worth 30% less than it was when Trump was still in office. So even if groceries and housing and other goods and services were affordable (which they aren't) I am still down in my investments. So sorry CNN, you are full of shite
What fund?
The S&P500 is up 17% since the start of 2021.
That's a real return of 4% since 2021 even when you take into account inflation which means your mutual fund is either highly unusual or not invested in the US.
Posted on 9/11/23 at 4:00 pm to RLDSC FAN
Real estate equity is up but you’ll have to bend over and spread wide to tap into it. Would buy less, too.
Posted on 9/11/23 at 4:01 pm to Jcorye1
quote:
What about those struggling to buy a house even though they got a great degree and have a good job? So many costs have skyrocketed while wages have stayed stagnant.
That's not poverty. That's a middle class decision of what luxuries you are going to do without, where you are going to buy a house, and how big.
Posted on 9/11/23 at 4:02 pm to RLDSC FAN
easily explained by (unrealized gains) in home prices
Posted on 9/11/23 at 4:05 pm to vistajay
quote:
What about those struggling to buy a house even though they got a great degree and have a good job? So many costs have skyrocketed while wages have stayed stagnant. That's not poverty. That's a middle class decision of what luxuries you are going to do without, where you are going to buy a house, and how big.
So we all just need to be thankful we aren’t in poverty? Some of us want more. Some of us would like to get back to how things were. Some of us don’t accept “the new normal”.
Posted on 9/11/23 at 4:06 pm to RLDSC FAN
quote:
Household and nonprofit net wealth increased
quote:
Fueled by a resurgent stock market and rising home values,
quote:
The data is not adjusted for inflation.
Well no duh. You’d have to be pretty moronic and living beyond your means if using the parameters they cherry picked for the article to be worse off.
They used a starting point of the stock market when it was at a low and a starting point for real estate before it all went crazy. Also during the same period they threw money at people like it was confetti.
But they conveniently ignore inflation.
Posted on 9/11/23 at 4:08 pm to RLDSC FAN
I have never been wealtier and I owe it all to one man: Joe Biden!!!
Just kidding. Can you imagine???
Just kidding. Can you imagine???
Posted on 9/11/23 at 4:08 pm to RLDSC FAN
Credit Card debt is at near record highs... record defaults on the way.
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