2024 Election Lounge
- Thread starter Thomas More
- Start date
What! You have sympathy for your less well-off countrymen?
I have been expecting a rate cut before the election, intended to help the Dems. It was easy to predict.
I don't disagree with her wondering why he cares so much about food costs etc personally when he has a boat. I mean it does seem corny. Upper middle class just normally don't care about that. Nor do they care about interest rates. If anything you want high rates to make more money on your cash. Their biggest expenses aren't food and gas. If he's still borrowing money and owns a boat well he's a fool.
All probably while he buys his cheap China crap on Amazon to save a few bucks versus the made in America local stuff. Everyone talks the talk. Lame.
It seems like he is generalizing society as a whole. Maybe he would like everyone to have a fair chance at the life he is living. Maybe he would like people to buy quality foods at affordable prices. However at the same time most people will not put the effort in to do anything more than live paycheck to paycheck and living on a knifes edge. The drive has been taken out of their minds for comfort and cozy bubble boy lifestyles.
You're last statement is confusing to me. In my line of work the best automotive tools money can buy is usually Snap-on. They are allegedly usa made and they usually cost over 300-500% what most people are willing to buy. Should I keep buying their tools because they are usa made? Or should I buy a Harbor Freight Icon wrench set that comes with 10 different wrenches for around 150 usd and the warranty is literally if I scratch a wrench I can turn the whole set in for a new set no questions asked or should I pay 600-800 usd for a snap on set made in usa that I have to hope and dream the snap on truck will come maybe 2 times a month just to only get that wrench replaced? And frankly I own the icon set and my coworker has the snap on set and he wishes stuff like this was around when he was coming up buying his tool kits. And it's not hard to see why financially.
The point I am trying to make is the standards across the board have dropped to negative levels and it has affected the last one standing to earmark their prices to obscene levels. But you can buy dirt cheap and you return or warranty it because in the long term even if you have to buy the product 10 times in your lifetime, you still go net positive instead of buying high end USA made products.
And no, I do not have a solution to this phenomenon.
Apologies for my extended rant that is slightly off topic.
CNN loves to send these "journalists" out to events with the intention of making your average Trump supporter look stupid. Their audience is a small group of liberal arts majors who fancy themselves as smarter than the average working man. This segment was probably made in an attempt to satisfy that "need". Just walk up to Boomer Billy Bass Boat and shove a camera in his face and be ready with your prepared list of talking points. They look for soft targets for these segments.
Totally disagree.
Low interest rates means lower cost of capital and deals are easier to do because you can have more flexibility in your IRR.
Inflation actually erodes buying power of those with savings.
So In this case if you have a nest egg of 5 million, but your purchasing power is reduced by 20 percent due to inflation, your 10 percent rate of return on investments in high yield savings accounts or your 401k is still insufficient to keep up.
Inflation is a wealth and savings destroyer.
Who said anything about high yield savings accounts? Those are a freaking joke. And who wants to live a life of being over-leveraged with debt.
And of course you disagree. That's your middle name.
Harbor Freight is junk. Smart buying is not having to waste time constantly returning or buying new stuff. Time is money. You're not saving money when you're wasting time with mindless tasks. Thinking otherwise is the middle class mindset.
Okay guy.
Renzy
Heirloom
This is like asking someone who's fit why they bother to go jogging since they're already in shape. People who become wealthy don't do it by squandering their money and nobody with any sort of financial sense wants to see their purchasing power go down. Really though, it was a rhetorical question and just highlights how the MSM has long since given up reporting the news and now just functions as a mouthpiece for the Left so they can maintain the Narrative.
"Everything around you has gotten more expensive... but it shouldn't matter to you because you own a boat."
They can try and soft-soap it all they want but when regular Americans are paying out the ear for basic necessities like groceries and gas you can't really spin it in a positive way. Especially when they constantly see people coming into this country illegally getting handouts at the expense of the American taxpayer who gets to fund a government that constantly puts its own citizens in last place.
I don't really see it as a horrible question. I would ask a rich person the same thing. It's just right wing talking points. When you are that rich I don't see the purpose of worrying about costs of basic living. And if you have a boat to me you have significant wealth. And if you don't then you're just a clown living in debt.
Of course when the government is creating stress on the common people it isn't good. And extreme taxation and abuse of these funds isn't good either. But we are all called to be charitable and extreme wealth isn't that admirable imho.
Having a boat is only upper middle class. It's an income of $300K/year before taxes, and substantial equity due to owning your house for 30 years plus building a good investment portfolio.
This is not rich. It's pretty nice, but still only middle class life on steroids. Rich starts with all those numbers 5-10 times higher, and even that is only moderately rich.
I can easily see a person like this still being sensitive to interest rates and inflation. I've known people who were in this category in late middle age, and found themselves only just getting by in their 80's.
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I feel a great disappointment that she dropped the "unburdened by what has been" part.
The rich person may not worry about the cost of living for himself, but may worry about it for others.
RE: This boat thing, I've been to a Trump boat parade - most of the boats are like $10-50k. These are not 'wealthy' people.