I read this a bit ago in the Financial Times. One of their people is making the same case. If this is really what he is doing, that is an awfully big risk he is taking, not just economically, but with his political future and his legacy. I have a hard time believing he is that strategic. I lean more into the argument that he really does like tariffs and believes the Gilded Age was the peak economic period, when the Robber Barons ran wild. He is a modern day Robber Baron, like Musk, Thiel and the others.
If history repeats itself, the Progressive Era followed the Gilded Age, a total backlash to the oligarchy.
Absolutely. It's also one of those rare times where tinfoil hat people come remotely close to be right. There is something to be said to this because the people in charge are idiots & fascists, who happen to be billionaires. And when that's the case you have lazy people who think you can just shove a square peg into a round hole.
The biggest takeaway to me is the absolute long-term ramifications to international relations that are basically dead now. The rest of the globe will work with one another and go around us, which is the biggest loss at the end of the day imo.
Yeah. That's a great article. I that it's more likely he just loves tariffs like russ mentioned. Trump has never been the guy with the longest view in the room so I have a hard time believing he really gives a shit about the future. He's more concerned with the 24 hour news cycle. I DO think a lot of the people in his administration could be on board with this thinking though...but ultimately Trump won't be able to stomach it. Plus something will inevitably happen in the world to alter plans.
This was one thig I have been thinking about even before reading this though. A recession super early in his term could very well end up helping them in the midterms and/or in '28 depending on how long it lasts.
Political timing: If a recession hits now, the recovery could be timing perfectly for the 2028 election cycle. Create a slump now, rebuild later, and take credit for the recovery just in time for reelection campaigns.
I read this a bit ago in the Financial Times. One of their people is making the same case. If this is really what he is doing, that is an awfully big risk he is taking, not just economically, but with his political future and his legacy. I have a hard time believing he is that strategic. I lean more into the argument that he really does like tariffs and believes the Gilded Age was the peak economic period, when the Robber Barons ran wild. He is a modern day Robber Baron, like Musk, Thiel and the others.
If history repeats itself, the Progressive Era followed the Gilded Age, a total backlash to the oligarchy.
Absolutely. It's also one of those rare times where tinfoil hat people come remotely close to be right. There is something to be said to this because the people in charge are idiots & fascists, who happen to be billionaires. And when that's the case you have lazy people who think you can just shove a square peg into a round hole.
The biggest takeaway to me is the absolute long-term ramifications to international relations that are basically dead now. The rest of the globe will work with one another and go around us, which is the biggest loss at the end of the day imo.
Yeah. That's a great article. I that it's more likely he just loves tariffs like russ mentioned. Trump has never been the guy with the longest view in the room so I have a hard time believing he really gives a shit about the future. He's more concerned with the 24 hour news cycle. I DO think a lot of the people in his administration could be on board with this thinking though...but ultimately Trump won't be able to stomach it. Plus something will inevitably happen in the world to alter plans.
This was one thig I have been thinking about even before reading this though. A recession super early in his term could very well end up helping them in the midterms and/or in '28 depending on how long it lasts.
Political timing: If a recession hits now, the recovery could be timing perfectly for the 2028 election cycle. Create a slump now, rebuild later, and take credit for the recovery just in time for reelection campaigns.
Yes, that's right, because, as we have clearly seen, people are absolute fucking idiots.
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Yeah housing is its own special animal - might be the only place rate may come down (and it can't be reiterated enough the Fed can do what they want, and doesn't necessarily mean they should). Rates will come down housing prices will just jump even more. Not that landowners will be bothered by that as we all love to espouse our love of wealth via land.
Hey I'm just happy I get to say I experienced stagflation.
0
brianlux
Moving through All Kinds of Terrain. Posts: 42,802
edited March 7
“Ultimately, you’re going to see the system collapse and an interruption
of benefits. I believe you will see that within the
next 30 to 90 days. People should start saving now.”
-Martin O’Malley, former director of Social Security Administration
Currently, Social Security pays monthly benefits to more than 70 million Americans. In 2025, an average of almost 69 million Americans per month will receive a Social Security benefit, totaling about $1.6 trillion in benefits paid during the year. If O'Malley's prediction is correct, that would mean $133.333,333,333 (1.33 billion dollars) will be removed from the economy PER MONTH in the U.S. A lot of retired and elderly people are going to be fucked.
On a personal note, my social security-- money I paid into the system-- is something like 60% of the average pay out, and I clear after expenses a little money each month selling used books and records- maybe averaging $700 a month. Things are going to get tough, but guess what? I feel lucky. A lot of people are going to be in worse shape. Things are really going to shit these days.
"Don't give in to the lies. Don't give in to the fear. Hold on to the truth. And to hope."
Sorry not to be an annoyance, but it always gets to me when people think they pay into SSI like it's a piggyback. It's a pay forward system where you essentially pay to support the generations before you. The paychecks I earn now contribute to those on SSI. It really is a great system, but love to see the Boomers (talking generally here of course) taking everything with them - always benefitting the most while pulling up the ladder behind them for those after them.
Anyway, my dad voted for this fuck and I am 1000% certain he's fucked because of it. I've talked ad nauseum about it with him but now I'm at the point I just say to him you get what you vote for and I hope you enjoy it when your fixed income dries up.
Anyway, my dad voted for this fuck and I am 1000% certain he's fucked because of it. I've talked ad nauseum about it with him but now I'm at the point I just say to him you get what you vote for and I hope you enjoy it when your fixed income dries up.
Anyway, my dad voted for this fuck and I am 1000% certain he's fucked because of it. I've talked ad nauseum about it with him but now I'm at the point I just say to him you get what you vote for and I hope you enjoy it when your fixed income dries up.
That's gotta be tough
We talked enough about it a couple months ago and I said, " I get it dad, you've never been too smart and I know it's all about thumbing your nose at everyone else so that they're down in the muck with you too. So I hope it was worth it because your pain doesn't go away regardless."
Eh it's fine, I got him a Birds Super Bowl hat. He can at least wear that with pride?🤷
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Oh there's no question, at a minimum, this all a pump & dump with no real intricate scheme here. Turn on the cash machine today, turn it off tomorrow, rinse and repeat.
Socialism for billionaires, unfettered capitalism for all us plebes.
“Ultimately, you’re going to see the system collapse and an interruption
of benefits. I believe you will see that within the
next 30 to 90 days. People should start saving now.”
-Martin O’Malley, former director of Social Security Administration
Currently, Social Security pays monthly benefits to more than 70 million Americans. In 2025, an average of almost 69 million Americans per month will receive a Social Security benefit, totaling about $1.6 trillion in benefits paid during the year. If O'Malley's prediction is correct, that would mean $133.333,333,333 (1.33 billion dollars) will be removed from the economy PER MONTH in the U.S. A lot of retired and elderly people are going to be fucked.
On a personal note, my social security-- money I paid into the system-- is something like 60% of the average pay out, and I clear after expenses a little money each month selling used books and records- maybe averaging $700 a month. Things are going to get tough, but guess what? I feel lucky. A lot of people are going to be in worse shape. Things are really going to shit these days.
I saw him interviewed on PBS Newshour and man did he sound smart. He should run for POTUS. But one thing that struck me was that he said a very large insurance company, maybe All State, operated with a 14% overhead and a large bank, maybe Citibank, operated with like a 21-24% overhead. The SSA operated at 1.5% overhead when it was running well. Call wait times were down to 12 minutes and now they’re back up to 30 minutes +. Sure, run things like the private sector. I’ll try to find the interview.
“Ultimately, you’re going to see the system collapse and an interruption
of benefits. I believe you will see that within the
next 30 to 90 days. People should start saving now.”
-Martin O’Malley, former director of Social Security Administration
Currently, Social Security pays monthly benefits to more than 70 million Americans. In 2025, an average of almost 69 million Americans per month will receive a Social Security benefit, totaling about $1.6 trillion in benefits paid during the year. If O'Malley's prediction is correct, that would mean $133.333,333,333 (1.33 billion dollars) will be removed from the economy PER MONTH in the U.S. A lot of retired and elderly people are going to be fucked.
On a personal note, my social security-- money I paid into the system-- is something like 60% of the average pay out, and I clear after expenses a little money each month selling used books and records- maybe averaging $700 a month. Things are going to get tough, but guess what? I feel lucky. A lot of people are going to be in worse shape. Things are really going to shit these days.
I saw him interviewed on PBS Newshour and man did he sound smart. He should run for POTUS. But one thing that struck me was that he said a very large insurance company, maybe All State, operated with a 14% overhead and a large bank, maybe Citibank, operated with like a 21-24% overhead. The SSA operated at 1.5% overhead when it was running well. Call wait times were down to 12 minutes and now they’re back up to 30 minutes +. Sure, run things like the private sector. I’ll try to find the interview.
Sorry not to be an annoyance, but it always gets to me when people think they pay into SSI like it's a piggyback. It's a pay forward system where you essentially pay to support the generations before you. The paychecks I earn now contribute to those on SSI. It really is a great system, but love to see the Boomers (talking generally here of course) taking everything with them - always benefitting the most while pulling up the ladder behind them for those after them.
Anyway, my dad voted for this fuck and I am 1000% certain he's fucked because of it. I've talked ad nauseum about it with him but now I'm at the point I just say to him you get what you vote for and I hope you enjoy it when your fixed income dries up.
Thanks for being an annoyance, I guess. You probably never heard of "empathy" either.
I don't need to read your shit and I don't need you, so welcome to my ignore list.
P.S. Not all "boomer" are wealthy or "take everything with them". Fucks sake man, I sell used books.
Adios!
"Don't give in to the lies. Don't give in to the fear. Hold on to the truth. And to hope."
Sorry not to be an annoyance, but it always gets to me when people think they pay into SSI like it's a piggyback. It's a pay forward system where you essentially pay to support the generations before you. The paychecks I earn now contribute to those on SSI. It really is a great system, but love to see the Boomers (talking generally here of course) taking everything with them - always benefitting the most while pulling up the ladder behind them for those after them.
Anyway, my dad voted for this fuck and I am 1000% certain he's fucked because of it. I've talked ad nauseum about it with him but now I'm at the point I just say to him you get what you vote for and I hope you enjoy it when your fixed income dries up.
Thanks for being an annoyance, I guess. You probably never heard of "empathy" either.
I don't need to read your shit and I don't need you, so welcome to my ignore list.
P.S. Not all "boomer" are wealthy or "take everything with them". Fucks sake man, I sell used books.
Adios!
missed this part I guess, "......Boomers (talking generally here of course) .... "
As an observation, it feels like you go through periods of hypersensitivity. Taking on board things personally that were not directly meant for you?
So k I now you've spoken of health issues you face, I feel compelled to ask are you doing okay?
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
0
brianlux
Moving through All Kinds of Terrain. Posts: 42,802
Sorry not to be an annoyance, but it always gets to me when people think they pay into SSI like it's a piggyback. It's a pay forward system where you essentially pay to support the generations before you. The paychecks I earn now contribute to those on SSI. It really is a great system, but love to see the Boomers (talking generally here of course) taking everything with them - always benefitting the most while pulling up the ladder behind them for those after them.
Anyway, my dad voted for this fuck and I am 1000% certain he's fucked because of it. I've talked ad nauseum about it with him but now I'm at the point I just say to him you get what you vote for and I hope you enjoy it when your fixed income dries up.
Thanks for being an annoyance, I guess. You probably never heard of "empathy" either.
I don't need to read your shit and I don't need you, so welcome to my ignore list.
P.S. Not all "boomer" are wealthy or "take everything with them". Fucks sake man, I sell used books.
Adios!
missed this part I guess, "......Boomers (talking generally here of course) .... "
As an observation, it feels like you go through periods of hypersensitivity. Taking on board things personally that were not directly meant for you?
So k I now you've spoken of health issues you face, I feel compelled to ask are you doing okay?
"it always gets to me when people think they pay into SSI like it's a piggyback".
Who looks at it that way? No one I know. I know I never payed into SSI. It was money taken from my paycheck without choice. So yeah, I want it back. Besides, it sure ain't much. I know people living on that shit. Everybody should try it. Good luck!
"the Boomers (talking generally here of course) taking everything with
them - always benefitting the most while pulling up the ladder behind
them for those after them. "
No, I'm not Ok with that. It may or may not have been a personal cheap shoot, but it's broad sweeping agist statement. To me it's like, "we're all getting fucked so lets blame this group or that one so the rest of us can feel better". That helps no one.
Look, I don't wish anyone ill. I just don't have the time or patience to deal with those kinds of viewpoints. So it's done and we move on.
As for how I am personally, throughout history the average life span of most humans who survive childhood is 73. I've passed passed the half-way point between 73 and 74 for so every day is good until it's not, and then I'll call it quits. But for now, as long as I can, I'm hacking. No way am I packing yet.
"Don't give in to the lies. Don't give in to the fear. Hold on to the truth. And to hope."
That's fine but nothing I said was wrong or meant to offend, so don't know what to tell you. You don't pay into social security like a bank account, you provided SSI for those older than you, benefiting from it when you were younger and had it deducted from your paycheck. You are now receiving funds from those paying into it now, it's a beautiful system and a great way for a society to take care of one another in civility. That's just a fact, I know my aunt is irrational about this stuff, too. Like it's your savings account to keep as yours. Not how it works.
That's fine but nothing I said was wrong or meant to offend, so don't know what to tell you. You don't pay into social security like a bank account, you provided SSI for those older than you, benefiting from it when you were younger and had it deducted from your paycheck. You are now receiving funds from those paying into it now, it's a beautiful system and a great way for a society to take care of one another in civility. That's just a fact, I know my aunt is irrational about this stuff, too. Like it's your savings account to keep as yours. Not how it works.
I felt the same way back when my grandmother was collecting. them my mother who passed in Nov. That I was paying in for their benefit.
Frankly I have no expectation I will see it and I am 10 years from being fully eligible.
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Comments
Libtardaplorable©. And proud of it.
Brilliantati©
This was one thig I have been thinking about even before reading this though. A recession super early in his term could very well end up helping them in the midterms and/or in '28 depending on how long it lasts.
Political timing: If a recession hits now, the recovery could be timing perfectly for the 2028 election cycle. Create a slump now, rebuild later, and take credit for the recovery just in time for reelection campaigns.
So at least rates are coming down as a result of all this bullshit.
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Today's report was just okay though. I think the federal job firings happened too late to be included though. Next month.
That's a hell of a word. I gotta configure that into my day today somehow. Good work.
Anyway, my dad voted for this fuck and I am 1000% certain he's fucked because of it. I've talked ad nauseum about it with him but now I'm at the point I just say to him you get what you vote for and I hope you enjoy it when your fixed income dries up.
1996; 9/28 New York
1997: 11/14 Oakland, 11/15 Oakland
1998: 7/5 Dallas, 7/7 Albuquerque, 7/8 Phoenix, 7/10 San Diego, 7/11 Las Vegas
2000: 10/17 Dallas
2003: 4/3 OKC
2012: 11/17 Tulsa(EV), 11/18 Tulsa(EV)
2013: 11/16 OKC
2014: 10/8 Tulsa
2022: 9/20 OKC
2023: 9/13 Ft Worth, 9/15 Ft Worth
We talked enough about it a couple months ago and I said, " I get it dad, you've never been too smart and I know it's all about thumbing your nose at everyone else so that they're down in the muck with you too. So I hope it was worth it because your pain doesn't go away regardless."
Eh it's fine, I got him a Birds Super Bowl hat. He can at least wear that with pride?🤷
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Socialism for billionaires, unfettered capitalism for all us plebes.
Libtardaplorable©. And proud of it.
Brilliantati©
Libtardaplorable©. And proud of it.
Brilliantati©
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14