Well with things going so well...except for all the businesses going out of business, all the people losing their full time jobs and having to work two or three part time, all the people who lose their jobs and have to go on unemployment, all the people who lose their jobs to illegals, all the food and other items people won't buy because of inflation, I guess your happy as a pig in shit and will be voting for Joe who made all this possible. I wonder if you recall how large a segment of America are living close to subsistence level that don't invest in the market and see no benefit from the market. If things are so bitchin where are all the start ups, new businesses hiring hundreds of thousands even tens of thousands of Americans? If there is so much money out there that's being spent to help the economy why the hell are we taxpayers bankrolling so much private development with our tax dollars? And finally
1. Yes many families are having a rough go of it, maxing out credit cards, etc. What is not mentioned is many of these folks refuse to cut back, they still eat out often. Still taking trips . As a banker friend of mine said it's not they have less money, many refuse to cut back on their spending. Las Vegas this year has record hotels books and travelers.
2. Closed business?? I have seen the 2600 retail stores meme floating around all the conservative sites. OH MY gawd Joe is killing the stores. There are 1.06 million retail shops in the US. Most of the 2600 stores closing have been in bankruptcy for the last 10 years. Rue21 on the list has declared bankruptcy for the 3rd time.
3. 60% of the American public now have individual stock market/mutual funs accounts and that number grows each year.
4. New business startups? 5.5 MILION new business in 2023. Broke all previous records.
5. Yes, many people are at subsistence level. Last week on a thread I pointed out the billionaire elites tax rates a re minimal. Top 400 of the richest families in the America paid on average 8.7% on their taxes. I was attacked as a liberal commie etc for suggesting such a thing that the elites need to pay ore as their wealth is growing exponentially. American Thinker came out today and talked about the wealth gap
6. We are bankrolling private development because every other country in the world is also doing so...at levels way more than the US . If we do not subsidize our industries and keep our companies competitive China and other will destroy us. China has moved into the most advanced EV's, battery technology. Musk said if we did not put tariffs on Chinese ev;s it would be a extinction level event for the us car co's. We live in a unfair world. This is no longer 1776 or 1955 where we did not have to worry about foreign competition. I live in the real world.
7. US companies cannot find workers for lower paying jobs/unskilled.
8. Our unemployment rate is very low.
9. get off the rw chat boards, your church group, the bloggers and such who make big $$ selling fear porn, your like minded friends and look what is really going on.
10. Yes retirees are being hard hit. many of these retires retired way too soon and should have worked 4-5-6 more years. I cannot tell you how many bragged on FB they were retiring at age 57, 58, 60 and talking about how much fun retirement is to us working peons. now they are going back to work and eating crow.. Most also had no where enough money in savings. A friend of mine retired at 58. He had a moderate/generous pension but I told him at the time he was retiring too early. No no no. Now he is going back to work at age 63. My CFP has been begging his clients they need to par back the spending. Some are listening some are not.