HEY! I resemble that remark...
INFLATION--FED announces 0.50% interest rate cut
- Thread starter Chop
- Start date
Your legal mind tricks won’t work here. A good many aren’t adverse to working - I see it everyday.
I do too. My dad is 74, and he still teaches and performs on the violin. However, it's not because he has to in order to survive. He does it because he enjoys it and likes to make a little extra money for the occasional travel plan. There's nothing wrong with people working at any age.
And to be clear, this isn't about people going back to work. If someone was lazy and/or reckless with his money and still has to work in his old age, I don't sympathize, and I doubt most here sympathize.
We're talking about guys like @nashhorn , @Horn2RunAgain , and @HornHuskerDad who worked hard, were responsible and saved in their younger years, and built nest eggs that should be enough to take care of them in their old age getting screwed because we inflated the currency and made their savings worth significantly less than it should be. And we did it to put "free money" in our own pockets based on bullcrap and irresponsibility. Their complaints are righteous and justifiable. They got robbed.
Horn2RunAgain
2,500+ Posts
I "retired " in 2017. Have enough in retirement accounts to fully retire because in 1988 I realized / thought social security wasn't going to be solvent by the end of my career.
Upon retirement my wife and I expanded her chess business to 5 evenings a week. That soon became a morning, noon and night endeavor with after school programs, private home classes (minimum 16 kids), along with our classes and tournaments we held. Between the 2 of us we put in 90 hrs a week in prep, instruction, review, etc.
And my wife went back to teaching the following year. She was bored. But still was putting in 30 hrs a week into chess in addition to teaching. Lazy? You don't know what you're talking about.
My career was demanding like a lot of others. I don't apologize for my earnings or savings. It pisses me and others off when influences disrupt a good, healthy economy and minimizes our savings and investments. If that bothers you , I care less about your feelings than you do about reality. Just being honest.
Now that we "retired" again, my wife is teaching again. Came out of her 2nd retirement because she's the kind that needs something going on 24 hrs a day. And we hold one chess class a week in this small deep east texas town we retired to a year ago.
I'll enjoy my 0700, 0730 tee times. I earned it. The Dude abides...
Just keep an eye out for nihilists.
Horn2RunAgain
2,500+ Posts
And Tara Reid...
Counter points:
1. The posters you mentioned lived through the 1970’s. The risk of inflation should have been anticipated.
2. Also, I didn’t see equivalent number of posts from said posters thanking the Chinese and other factors that contributed to historically low inflation for 30 years prior to 2021. Seems to me the posters are not being intellectually consistent.
3. I think you could have simply said in your closing arguments that retirees earned the right to ***** because from what I see that is their only defense.
Horn2RunAgain
2,500+ Posts
The middle class is getting hit as hard as retirees. I'm hearing it from parents every week or day. I don't call it bitching, i call it a reality. You can post any stats you like (8% inflation lmao) it doesn't square with reality.
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Before responding, I’m looking for a lawyer to do pro bono work on my behalf like you have on your side.
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Horn2RunAgain
2,500+ Posts
Nope. Just instructors that ran a business. In dfw most of our students were Asian Indian. Over 150 per week. Kept us hopping
Used to be a decent player, then jumped in the business. You know how golf coaches are proficient with 2 clubs (7i, driver) but can no longer score? That's me with chess
Loved the business. Kids eager to learn and caring parents were a refreshing change from what I did for 40 years
"Economists"
You will be hearing from my lawyer.
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They likely did anticipate it. That doesn't make their complaints less justifiable. I have homeowners insurance in anticipation of house fires. That doesn't mean I won't be upset if someone burns down my house.
This is absurd. You can dislike China and still complain about inflation without being intellectually inconsistent.
Their defense is that they got robbed by their government and by their fellow citizens, so of course they have the right to *****. And frankly, there's no reason to make this about retirees. They may be hit especially hard, but most people of any age have gotten screwed by this. There are winners with inflation, but it's a pretty small (though powerful) class of people.
Sending your response to my lawyer. However, I doubt he will find it’s worth his time to respond to your claptrap.
Some folks need their humor meters adjusted.
Nor are they the only ones complaining, jeez. In short it hits everyone but to some it’s water under the bridge. When I was working in the 70’s my employer had the policy of paying annual salary increases of merit in addition to increases for inflation. Honestly for me it was golden back then. Living in Tenn at the time our inflation was not nearly the national inflation so I was quite happy. Little different now but such is life - particularly under the guiltless administrations we have come to expect.
You like the retirees have missed my multiple points (and posts) on this thread, namely:
1. Inflation is bad and no doubt due to actions by the Fed and the Biden policies enacted by congress. No one on this board disputes this - why do you and the retirees keep bringing it up as some sort of defense?
2. Prices are >20% higher on average since Jan 2021. Yes, we know. How many times does one side need to repeat that they are paying higher prices today than yesterday. Apparently forever. I concede that point.
3. Seems to me it would be more productive to get a job than to ***** everyday about higher prices, but maybe that is me. I concede that point as well.
4. I have said repeatedly since start of the year that inflation (not prices) will come down to ~3%. Note June headline inflation was 3.0%. At this point the retirees point to >20% higher prices today to counter my 3% inflation claim. Obviously, we are talking about 2 different things, but the retirees can’t help themselves to take the opportunity to ***** about >20% higher prices they are paying today relative to Jan 2021. I will not concede this point. I am talking about current inflation as result of RECENT Fed actions and the retirees are talking about being screwed from past Fed actions. I am not interested in reliving the past on some sort of weird doom loop.
5. At this point in the debate, we go back to #1 and rinse and repeat.
You're trying to divert to the nuances of your point, and that's fine. But none of that is what got you into hot water with the retirees. What did is you basically telling them all to **** off and stop complaining about their expenses going up 20 percent in 2 years and telling them to get jobs like they're street bums begging for handouts.
Obviously I'm sure they'd rather see inflation coming down than going up, but that doesn't undo or even really reduce the screwjob that was already done to them and still being done to them. Will they eventually let it go and stop complaining about it? I'm sure they will. They're a tough generation, and as you pointed out, they lived through the '70s and largely don't complain about it anymore.
However, I don't think we (relatively) young folks have earned the right to ridicule and lecture them about when that point should be. Nothing wrong with disagreement on substance. I've argued with Nash about term limits and with Horn2Run about student loans, but I think it's disrespectful to harshly dismiss a real and substantial injustice done to them.
As expected the latest jobs numbers are manipulated:
"The public sector, especially state and local governments, has added 379,000 jobs in the first half of 2023, comprising almost one-quarter of the nation’s nearly 1.7 million payroll gains. That’s an outsize share; federal, state and local governments make up just 14.5% of total employment."
The public sector payrolls add nothing to economic performance. Do not trust any number put out by any governmental agency. Trust your eyes.
"The public sector, especially state and local governments, has added 379,000 jobs in the first half of 2023, comprising almost one-quarter of the nation’s nearly 1.7 million payroll gains. That’s an outsize share; federal, state and local governments make up just 14.5% of total employment."
The public sector payrolls add nothing to economic performance. Do not trust any number put out by any governmental agency. Trust your eyes.
Horn2RunAgain
2,500+ Posts
Or do like I do... shoot em
I believe I was making a fine point (meaning narrow), not nuanced. I already admitted above before you joined the conversation that suggesting to drive a school bus was more in line with “jerking your chain” vs making a legitimate point. My initial posts on this topic were driven by being pedantic than being disrespectful. When my posts were being heckled by the retirees, I decided I had enough and here we are.
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