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GoutPatrol posted:You mean...the rich get richer? Duh. “poo poo we are losing money! Convince the poors that now is a perfect time to invest so their money can keep us afloat! Sometime...like years down the line it’ll get better, yeah! Better idea, dump their social security into the market. When it goes kaput we will be rich and they will be hosed.”
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Dec 24, 2018 05:15
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Gatts posted:lol at anyone who is not already worth more than 20 million putting money in stocks or the market who doesn’t know its all a game to take your money away for the already wealthy and elite to play with and separate you from while they get richer. Why do you think this? Had you put money in the market at literally any time in the past decade you'd have way more now.
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Dec 24, 2018 05:16
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Your Boy Fancy posted:People who root for the economy to tank really aren’t thinking of what it does to others. When the economy crashed ten years ago, all the work in my field dried up and never fully grew back. I spent those years utterly destitute, nearly ended up homeless, and only managed to dig out of the debt I accrued a couple of years back. Same. My life was also destroyed from the recession. Three job offered dried up and four funded masters research offers. I’m still picking up the pieces ten years later. Of course from a political perspective it made me no longer a libertarian lite and moved me to liberalism/democratic socialism over the next several years. The most incredible thing to me is that just a few years later looking at being in a similar situation. Like people just don’t learn lessons.
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Dec 24, 2018 05:21
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I started my 401k in October, I should be happy within a decade.
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Dec 24, 2018 05:21
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Biggest American Cons: “Give us your poor, your tired, your needy.” turns out was marketing for “We need a cheap exploitable labor force.” “The free market.” is “More money for us in a rigged system, gently caress you.” “Slavery was abolished.” Is “Except the constitution says it’s still legal if people go to prison so let’s have for profit prison systems that target colored and foreign people with harsher penalties and let white collar crimes for white folk be less punishable.” The gun nuts loving America and crying 2nd amendment but doing nothing except supporting a foreign power influencing our President through their organization cause they love their love of guns and violence more than anything else. If they act and people are scared or say someone is trying to incite them then there is a gun problem. If they don’t do anything when a Trump is in power then they’re full of poo poo and should be disregarded. So sad to see this in my lifetime in America
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Dec 24, 2018 05:22
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Wylie posted:Please tell me they're not lighting it at night. I want that image to exist very badly. Yeah, the lights are out and the reason is pretty cringeworthy. National Christmas Tree may reopen, depending on donations quote:The tree was damaged by a rogue climber on Friday night, and the government shutdown means that federal money won't be allocated toward repairing the tree until Congress makes a budget deal.
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Dec 24, 2018 05:24
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What kind of dimwit climbs a Christmas tree?
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Dec 24, 2018 05:25
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Rent-A-Cop posted:What kind of dimwit climbs a Christmas tree? I've had many cats that were dimwits. Speaking of which: Cat tax 
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Dec 24, 2018 05:29
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Gatts, what's your opinion on the indentured servitude with extra steps known as a pension? Edit: don't take your money out of your 401k, don't reduce your contribution below the employer match, unless you've got an investment opportunity with an expected value of at least 14% return, which you don't. Tibalt fucked around with this message at 05:35 on Dec 24, 2018 |
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Dec 24, 2018 05:31
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Phobic Nest posted:Yeah, the lights are out and the reason is pretty cringeworthy. Carnac the Magnificent sees a griftastic GoFundMe in your future. Otteration fucked around with this message at 05:35 on Dec 24, 2018 |
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Dec 24, 2018 05:32
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https://twitter.com/realDonaldTrump/status/1077057874235400194 EDIT: Parker Molloy has been adding laugh tracks to political talk shows... https://twitter.com/ParkerMolloy/status/1077053540881874944 Dick Trauma fucked around with this message at 05:37 on Dec 24, 2018 |
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Dec 24, 2018 05:34
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eyebeem posted:You don’t understand how 401k matching works. Have you not run into this relatively new wrinkle before? Basically instead of matching every paycheck the company will sum up your contributions at the end of the year and apply their match then (say, $1:$1 up to 5%). If you leave mid-year you get zero match because the entire match happens as a single payout at the end of the year. Additionally because they are matching your $ contributed (not the end of year value of your contributions) if the market goes up you get an effectively lower match because the match loses out on all that appreciation. However if the market goes down, as it has this year, it is an effectively higher match. If the company stashed the match money in anything other than a risk free investment the company will have to add in additional money to bring it back up to the $1:$1 match.
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Dec 24, 2018 05:37
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Your Boy Fancy posted:People who root for the economy to tank really aren’t thinking of what it does to others. When the economy crashed ten years ago, all the work in my field dried up and never fully grew back. I spent those years utterly destitute, nearly ended up homeless, and only managed to dig out of the debt I accrued a couple of years back. Yeah, this. The richies will always be fine, as will government workers and much of the professional class, including those who post itt. Recessions are also used as an excuse for (further) decimating what little of a social-safety net we have in this country through (further) austerity. The trump porn that's getting folks off here is benefitting from the potential suffering of others.
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Dec 24, 2018 05:40
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Willa Rogers posted:Yeah, this. I think that " i hope that the inevitable economic downtown happens sooner rather than later for political reasons" is pretty reasonable As long as we all believe it's inevitable
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Dec 24, 2018 05:45
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Your Boy Fancy posted:People who root for the economy to tank really aren’t thinking of what it does to others. When the economy crashed ten years ago, all the work in my field dried up and never fully grew back. I spent those years utterly destitute, nearly ended up homeless, and only managed to dig out of the debt I accrued a couple of years back. While this is a totally fair and reasonable point, the economy is cyclical and every single person in this thread is going to suffer many economic downturns throughout their lives. Whether you're seriously affected by each one is more or less going to be a roll of the dice. That's not an excuse to cheer for it to happen or anything, but maybe be angry at the people who aren't interested in providing proper safety nets to smooth over the rough periods instead of wasting energy being pissed at people who can't do anything anyway.
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Dec 24, 2018 05:47
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Shifty Pony posted:Have you not run into this relatively new wrinkle before? Kinda unrelated to how to deal with market fluctuations though? Isn't company matching pretty much optional via location/company? You're lucky if you get any matching at all? Doesn't have much to do with what to do with your invested money in any 401(k) though? Late edit: I'd love it if all employers were mandated to match w/200%, but that's where we are. How do we fix that? Otteration fucked around with this message at 06:08 on Dec 24, 2018 |
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Dec 24, 2018 05:49
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Paradoxish posted:While this is a totally fair and reasonable point, the economy is cyclical and every single person in this thread is going to suffer many economic downturns throughout their lives. Whether you're seriously affected by each one is more or less going to be a roll of the dice. That's not an excuse to cheer for it to happen or anything, but maybe be angry at the people who aren't interested in providing proper safety nets to smooth over the rough periods instead of wasting energy being pissed at people who can't do anything anyway. Why can’t the folks who are dancing just shut the gently caress up and quit punching down? There’s already enough anger at those who are gutting safety nets and they don’t post here.
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Dec 24, 2018 05:55
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Shifty Pony posted:Have you not run into this relatively new wrinkle before? Don't companies just use it as an interest free loan from their employees and reduce their borrowing (and therefore interest expense) from other sources? Also the match is only lower or higher from the perspective of the employee - from the perspective of the employer, they're still paying $520 - it's just all at the end of the year instead of $10 per week, which means they can use that $10 per week to reduce their interest expense from other sources of funds throughout the year.
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Dec 24, 2018 05:55
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Shifty Pony posted:Have you not run into this relatively new wrinkle before? The company is matching the % of your salary that you contributed. Fluctuations in the market have literally zero bearing on what the company plops into your 401k. If you contribute 5% of a $50,000 salary to get a 5% match from your company, your company will match your $2,500 regardless of any market movement. They aren’t matching the present value of your investment at the end of year. You don’t know how 401k matching works. I understand that you are looking at this from the perspective of “the company lost out because they invested” but that’s not really an informed assumption. Much more goes into valuation of carried capital than just potential gains from Investment. Source: lots of Finance education, work experience, and stupid little acronyms after my name. eyebeem fucked around with this message at 06:02 on Dec 24, 2018 |
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Dec 24, 2018 05:56
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theflyingorc posted:I think that " i hope that the inevitable economic downtown happens sooner rather than later for political reasons" is pretty reasonable Always reasonable to hope for despair and to do or propose nothing to do about it. Yep.   
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Dec 24, 2018 05:57
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theflyingorc posted:I think that " i hope that the inevitable economic downtown happens sooner rather than later for political reasons" is pretty reasonable The last time an economic recession it was politically advantageous for Democrats too, and you know what, I still wish it never happened. It wiped out my parents 401k savings, they had to pull out everything in order to pay the mortgage because they both lost their jobs, the stress was so great they divorced and they lost the house anyways, and my dad's career never recovered. I think my life would be very different if that recession never happened, and it still didn't affect my life as significantly or permanently as it affected many other people. I hate Trump, and I still wish that if at least by luck the economy still continues to do well under him, and then perhaps a Democratic president or congress can re-introduce the financial regulations necessary to prevent such severe disaster from occurring again in the future. Ups and downs in the market are an ever-present threat, but collapses of the global financial system are not inevitable.
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Dec 24, 2018 06:12
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Paradoxish posted:While this is a totally fair and reasonable point, the economy is cyclical and every single person in this thread is going to suffer many economic downturns throughout their lives. Whether you're seriously affected by each one is more or less going to be a roll of the dice. That's not an excuse to cheer for it to happen or anything, but maybe be angry at the people who aren't interested in providing proper safety nets to smooth over the rough periods instead of wasting energy being pissed at people who can't do anything anyway. Hey guess what shitlord, you can be pissed at both groups! Yeah, It loving sucks that the wealthy have eroded any support systems away in favor of lining their own pockets. But being all, OH BOY I HOPE THE ECONOMY IS WRECKED SO MY POLITICAL TEAM SCORES POINTS is a loving lovely attitude to have. So yeah, maybe we can be pissed at the weathy, and we can be pissed at morons like you who wanna tell us how "It'll be fine, everyone has some suffering in life!" Like, I wasn't affected by the 2008 downturn. I was still in high school and my dad had a solid job. But now that I work in a trade, I've met so many people who's careers were wiped out by that. Entire companies who had a laundry list of projects planned out that just evaporated, and people had to be laid off. Most people didn't ever get pack into the trade they were laid off from. So yeah, its going to gently caress a lot of people over if we have a crash. ExplodingSims fucked around with this message at 06:16 on Dec 24, 2018 |
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Dec 24, 2018 06:13
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Hmm
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Dec 24, 2018 06:16
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Bishounen Bonanza posted:If everything dried up then your expertise was not needed by the economy and a "correction" occurred in your field when the economy slowed down. Sorry you had to get a real job. Lmao. You know resume gaps are a real thing right? People who got hosed by the recession ended up not having a job for months or years, which then leads to them not getting new opportunities because now they don't have experience.
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Dec 24, 2018 06:18
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If you pull your poo poo out of your 401k you are a loving idiot. Objectively if you pit anything into the market in the last 40 years you change come out ahead except for the periods during the recessions themselves, once the market recovered you would have come out ahead compared to pulling cash and paying a 10% penalty on the money.
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Dec 24, 2018 06:18
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Your Boy Fancy posted:People who root for the economy to tank really aren’t thinking of what it does to others. When the economy crashed ten years ago, all the work in my field dried up and never fully grew back. I spent those years utterly destitute, nearly ended up homeless, and only managed to dig out of the debt I accrued a couple of years back. You are totally missing the point, dude. The economy will tank. It always does. It's cyclical. So it's just a matter of time. What I'm saying is, the sooner it tanks, the better. Since it's going to tank anyway, it's better if it tanks smack in the middle of Trump's term.
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Dec 24, 2018 06:19
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WoodrowSkillson posted:If you pull your poo poo out of your 401k you are a loving idiot. Objectively if you pit anything into the market in the last 40 years you change come out ahead except for the periods during the recessions themselves, once the market recovered you would have come out ahead compared to pulling cash and paying a 10% penalty on the money. Yes I will go tell my parents they are dumbasses for trying to keep our house and put food on the table because they both lost their jobs and needed money. Thanks for the 20/20 hindsight friend, obviously it wasn't a great idea but they were under a tremendous amount of stress at the time and had to get money from loving somewhere.
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Dec 24, 2018 06:21
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OctaMurk posted:The last time an economic recession it was politically advantageous for Democrats too, and you know what, I still wish it never happened. It wiped out my parents 401k savings, they had to pull out everything in order to pay the mortgage because they both lost their jobs, the stress was so great they divorced and they lost the house anyways, and my dad's career never recovered. I think my life would be very different if that recession never happened, and it still didn't affect my life as significantly or permanently as it affected many other people. Hoping for a recession to hit sooner, rather than later, is not the same thing as hoping that a 2008-level recession happens sooner, rather than later. Recessions are very normal things. OctaMurk posted:Yes I will go tell my parents they are dumbasses for trying to keep our house and put food on the table because they both lost their jobs and needed money. Thanks for the 20/20 hindsight friend, obviously it wasn't a great idea but they were under a tremendous amount of stress at the time and had to get money from loving somewhere. theflyingorc fucked around with this message at 06:25 on Dec 24, 2018 |
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Dec 24, 2018 06:22
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eyebeem posted:They aren’t matching the present value of your investment at the end of year. You don’t know how 401k matching works. You are both saying the same thing and you are misreading what he said.
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Dec 24, 2018 06:22
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OctaMurk posted:Lmao. You know resume gaps are a real thing right? People who got hosed by the recession ended up not having a job for months or years, which then leads to them not getting new opportunities because now they don't have experience. I still can't find a steady job in my field years after graduating in a STEM field due to the location having gone to poo poo and the local hiring process being corrupt as heck on the contractor end. I've had to do independent work where I could get it and save up for a bigger opportunity. Then a fire wiped everything out and I lost all the money and supplies I had been saving up for years to open a business with. So i'm basically back at square 1. Which means i'm flat out hosed when it comes to long term prospects. All this however originates back to the economy and hiring field being awful when I originally graduated. If things had been different i'd probably be in a much better position and wouldn't be looking at the prospect of the ruination of any prospects I had in life. So yeah. gently caress anyone who wants another recession to score political points. That poo poo ruins lives. Archonex fucked around with this message at 06:27 on Dec 24, 2018 |
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Dec 24, 2018 06:23
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https://twitter.com/realdonaldtrump/status/1077064829825966081?s=21 He’s just publicly inviting one country to invade another.
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Dec 24, 2018 06:27
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enraged_camel posted:The economy will tank. It always does. It's cyclical. So it's just a matter of time. This butterfly flaps his wings, and says maybe, or maybe not:  This other butterfly flaps his wings, and says if the poo poo-smear tanks the economy, gently caress off, it wasn't my fault:
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Dec 24, 2018 06:28
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ExplodingSims posted:Like, I wasn't affected by the 2008 downturn. I was still in high school and my dad had a solid job. But now that I work in a trade, I've met so many people who's careers were wiped out by that. Entire companies who had a laundry list of projects planned out that just evaporated, and people had to be laid off. Most people didn't ever get pack into the trade they were laid off from. So yeah, its going to gently caress a lot of people over if we have a crash. The economy is going to tank. It's going to happen now or next year or four years from now, but it's going to happen sooner rather than later. Trump probably isn't going to see a second term, but if the economy comes crashing down a couple of years into a Democrat's first term you can bet that we're going to see Trump 2.0: Actually a Competent Fascist This Time in 2024.
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Dec 24, 2018 06:28
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Jordan Peterson looks like Doc Holiday in his last days
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Dec 24, 2018 06:28
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What in the gently caress is going on with this Twitter poo poo between Bernie/Beto folks? Seems extremely astroturfed on the part of #resistance types but I don't know what to think after the "Bernie bros" debacle of 2016.
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Dec 24, 2018 06:29
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TulliusCicero posted:Jordan Peterson looks like Doc Holiday in his last days They both look unwell. Maybe they are dying of tb, it could be a Christmas miracle.
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Dec 24, 2018 06:29
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it is one of my greatest sources of personal shame that I bought Jordan Peterson's book on Audible on a coworker's recommendation and only looked up who he was after the fact I don't talk to that coworker anymore
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Dec 24, 2018 06:33
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DrNutt posted:What in the gently caress is going on with this Twitter poo poo between Bernie/Beto folks? Seems extremely astroturfed on the part of #resistance types but I don't know what to think after the "Bernie bros" debacle of 2016. David Sirota’s been posting Beto’s voting record and the #resist types didn’t take it very well.
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Dec 24, 2018 06:39
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DrNutt posted:What in the gently caress is going on with this Twitter poo poo between Bernie/Beto folks? Seems extremely astroturfed on the part of #resistance types but I don't know what to think after the "Bernie bros" debacle of 2016. The left is worried Beto will be groomed for a 2020 run as a milquetoast center-left Obama-like figure who won't push for policy they want like single payer healthcare, $15 minimum wage and so on. I really hope he stays in Texas and works on building up the democrats there. Just about anyone can probably beat Trump in 2020 but he's one of the few people that can help turn Texas blue.
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Dec 24, 2018 06:40
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DrNutt posted:They both look unwell. Maybe they are dying of tb, it could be a Christmas miracle. The only ethical consumption under capitalism
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Dec 24, 2018 06:42
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