Capitalism, The Fed and Economic Policy

The Juggler · March 7

Wow you went espouse there, huh?

That's a hell of a word. I gotta configure that into my day today somehow. Good work.

Jearlpam0925 · March 7

Hey I'm just happy I get to say I experienced stagflation.

brianlux · 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.

Jearlpam0925 · March 7

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.

DE4173 · March 7

Would make for a nice Father's Day card😄

The Juggler · March 7

Jearlpam0925 said:

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

Jearlpam0925 · March 7

The Juggler said:

Jearlpam0925 said:

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?🤷

mickeyrat · March 7

401k. -2.25 since Jan 1.

a target date fund. and 3 varients of index.

grew substantially under sleepy Joe. Something like 18% last year.

the 1 year as of Feb 28 was 11.25%

Jearlpam0925 · March 8

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.

Jearlpam0925 · March 8

Halifax2TheMax · March 8

brianlux said:

“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.

Halifax2TheMax · March 8

Halifax2TheMax said:

brianlux said:

“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.

https://www.youtube.com/watch?v=ZcWJbRZMyAY

brianlux · March 8

Jearlpam0925 said:

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!

mickeyrat · March 8

brianlux said:

Jearlpam0925 said:

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?

brianlux · March 8

mickeyrat said:

brianlux said:

Jearlpam0925 said:

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.

Jearlpam0925 · March 8

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.

mickeyrat · March 9

Jearlpam0925 said:

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.

Jearlpam0925 · March 9

mickeyrat said:

Jearlpam0925 said:

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.

I always feel the need to correct on it because I think that mindset of "hey that's money that I saved" plays exactly into the R's hands of pushing the exact wedge issue they're trying (and have) to accomplish.

Also, very much same to your second point. I'm also of a generation that was conditioned by growing up in the Reagan/Bush/Clinton administrations of being hammered over the head that either you have a 401k or good luck plebes, so that's why I just accept the idea of SSI not being there because I've been told over and over that no one wants to help their neighbor. But of course it doesn't change that that's a miserable existence and a shitty society to promote as a human being.

mickeyrat · March 9

Jearlpam0925 said:

mickeyrat said:

Jearlpam0925 said:

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.

I always feel the need to correct on it because I think that mindset of "hey that's money that I saved" plays exactly into the R's hands of pushing the exact wedge issue they're trying (and have) to accomplish.

Also, very much same to your second point. I'm also of a generation that was conditioned by growing up in the Reagan/Bush/Clinton administrations of being hammered over the head that either you have a 401k or good luck plebes, so that's why I just accept the idea of SSI not being there because I've been told over and over that no one wants to help their neighbor. But of course it doesn't change that that's a miserable existence and a shitty society to promote as a human being.

agree. like city services. I've had little need to call the cops, fire dept etc... But I will gladly pay to have them available. schools. No kids of my own and the wifes are grown, always vote for levies anyway, who in their right mind wants a stupid, ignorant society?Libraries, may not have used them much for decades but I look to change that, and always voted for their levies as well for the same reason as above.

seems corporate america has conditioned us to look for more from less there and now in government. well you get what you pay for. I'd prefer to pay for better than we've seen to now..... even if/when those services/programs aren't for me.

mickeyrat · March 9

Capitalism, The Fed and Economic Policy

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