Liberal Forum

I guess this is one person who doesn't agree with Bidenomics!


https://www.cnn.com/2023/08/15/investin ... index.html
New YorkCNN — Michael Burry, the “Big Short” investor who became famous for correctly predicting the epic collapse of the housing market in 2008, has bet more than $1.6 billion on a Wall Street crash.Burry is making his bearish bets against the S&P 500 and Nasdaq 100, according to Security Exchange Commission filings released Monday. Burry’s fund, Scion Asset Management, bought $866 million in put options (that’s the right to sell an asset at a particular price) against a fund that tracks the S&P 500 and $739 million in put options against a fund that tracks the Nasdaq 100
While one big payoff doesn’t guarantee future returns, Burry does have a strong investment record. Traders following the investments disclosed by Scion’s over the last 3 years (between May of 2020 and May 2023) would have made annualized returns of 56% according to an analysis by Sure Dividend. Over the same period, the S&P 500 had annualized returns of about 12%.



 
 

M2 money supply tanking, more people raiding their retirement accounts, more people accessing home equity.

If the economy is doing so well, why the need to access these funds?

If you thought there was a wide gap between the "Haves" and the "Have nots", you haven't seen anything yet.

Just what these people need, a financial down turn.

Median Retirement Savings By Age
According to the latest Survey of Consumer Finances (SCF) by the Federal Reserve, the median retirement savings by age in the U.S. is as follows:

Federal Reserve SCF Data
Age range

Median Retirement Savings

Americans younger than 35

$13,000

Americans aged 35-44

$60,000

Americans aged 45-54

$100,000

Americans aged 55-64

$134,000

Americans aged 65-74

$164,000

Americans aged 75+

$83,000

Vanguard's report also includes median retirement savings by age numbers:

Vanguard: "How America Saves 2022" Data
Age range

Median Retirement Savings

Under age 25

about $1,800

Ages 25-34

about $14,100

Ages 35-44

$36,100+

Ages 45-54

$61,500+

Ages 55-64

$89,700+

Ages 65+

$87,700+

Fuelman » 17 Aug 2023, 10:22 am » wrote: ↑

17 Aug 2023, 10:22 am

M2 money supply tanking, more people raiding their retirement accounts, more people accessing home equity.

If the economy is doing so well, why the need to access these funds?

I am a have not. Most people are.
I asked a financial advisor. "What happens when the world goes to ****?"
He said,"We'll be the richest paupers on the planet." 

Is that good or bad? Dunno. Could be worse I guess...


 

 

DeezerShoove » 17 Aug 2023, 10:46 am » wrote: ↑

17 Aug 2023, 10:46 am

I am a have not. Most people are.
I asked a financial advisor. "What happens when the world goes to ****?"
He said,"We'll be the richest paupers on the planet." 

Is that good or bad? Dunno. Could be worse I guess...

I'm going to have to admit I was quite naive, I thought all my peers were leaving us behind.

How much do people save for retirement? In 2019, about 50% of households reported any savings in retirement accounts. Twenty-one percent had saved more than $100,000, and 7% had more than $500,000.Apr 25, 2023

The bar has been set pretty low, one of the reasons I'm pushing back on " BOOTSTRAPS"!

Those financial advisors must be working overtime trying to get enough clients. No one is following the 7x, 8x, 9x, 10x of yearly income in retirement savings. Our financial advisor is quite the character, the type of guy you want to go with you into a biker bar. Fully tatted arms (which he covers in the office) the size of most men's thighs.

Retirement accounts aren't the only metric on how people are doing but a pretty good indicator. 



 

The other GOP lie,

"Just pull yourself up by your BOOTSTRAPS"!

If this happens, Biden and every dim around the country will blame the GOP. It's what they do. 

Fuelman » 17 Aug 2023, 1:02 pm » wrote: ↑

17 Aug 2023, 1:02 pm

The other GOP lie,

"Just pull yourself up by your BOOTSTRAPS"!

That can apply to able-bodied lazy ****, though.
Illiterates that make fun of "grammar nazi's" are their cousins...

Vegas » 17 Aug 2023, 1:05 pm » wrote: ↑

17 Aug 2023, 1:05 pm

If this happens, Biden and every dim around the country will blame the GOP. It's what they do.

Well of course, last 2 years of Biden administration with a GOP House.
 

DeezerShoove » 17 Aug 2023, 1:08 pm » wrote: ↑

17 Aug 2023, 1:08 pm

That can apply to able-bodied lazy ****, though.
Illiterates that make fun of "grammar nazi's" are their cousins...

I miss " Ms Bee"! The ultimate grammar Nazi! She would have a blast with a lot of the current journalist! Seems no one is proof reading these days.

There will always be lazy ****, not sure what to do with them. 

Basic math skills would be a start.

Fuelman » 17 Aug 2023, 1:33 pm » wrote: ↑

17 Aug 2023, 1:33 pm

I miss " Ms Bee"! The ultimate grammar Nazi! She would have a blast with a lot of the current journalist! Seems no one is proof reading these days.

There will always be lazy ****, not sure what to do with them. 

Basic math skills would be a start.

You mean Gaily?
 
Basic anything would be nice.

Fuelman » 17 Aug 2023, 10:22 am » wrote: ↑

17 Aug 2023, 10:22 am

M2 money supply tanking, more people raiding their retirement accounts, more people accessing home equity.

If the economy is doing so well, why the need to access these funds?

inflation...
 

Fuelman » 17 Aug 2023, 10:44 am » wrote: ↑

17 Aug 2023, 10:44 am

Just what these people need, a financial down turn.

Median Retirement Savings By Age
According to the latest Survey of Consumer Finances (SCF) by the Federal Reserve, the median retirement savings by age in the U.S. is as follows:

Federal Reserve SCF Data
Age range

Median Retirement Savings

Americans younger than 35

$13,000

Americans aged 35-44

$60,000

Americans aged 45-54

$100,000

Americans aged 55-64

$134,000

Americans aged 65-74

$164,000

Americans aged 75+

$83,000

Vanguard's report also includes median retirement savings by age numbers:

Vanguard: "How America Saves 2022" Data
Age range

Median Retirement Savings

Under age 25

about $1,800

Ages 25-34

about $14,100

Ages 35-44

$36,100+

Ages 45-54

$61,500+

Ages 55-64

$89,700+

Ages 65+

$87,700+

I'm in the 65+ cat...sure thankful I'm on the high side of the 'median'...
 

Fuelman » 17 Aug 2023, 11:27 am » wrote: ↑

17 Aug 2023, 11:27 am

I'm going to have to admit I was quite naive, I thought all my peers were leaving us behind.

How much do people save for retirement? In 2019, about 50% of households reported any savings in retirement accounts. Twenty-one percent had saved more than $100,000, and 7% had more than $500,000.Apr 25, 2023

The bar has been set pretty low, one of the reasons I'm pushing back on " BOOTSTRAPS"!

Those financial advisors must be working overtime trying to get enough clients. No one is following the 7x, 8x, 9x, 10x of yearly income in retirement savings. Our financial advisor is quite the character, the type of guy you want to go with you into a biker bar. Fully tatted arms (which he covers in the office) the size of most men's thighs.

Retirement accounts aren't the only metric on how people are doing but a pretty good indicator.

the problem being, by the time most figured out they're at or below the median, it's too late...
 

Fuelman » 17 Aug 2023, 1:02 pm » wrote: ↑

17 Aug 2023, 1:02 pm

The other GOP lie,

"Just pull yourself up by your BOOTSTRAPS"!

****, if you don't, no one will...are you a **** libtardo that expects ****? silver platter anyone? anyone? Bueller?
 

DeezerShoove » 17 Aug 2023, 3:42 pm » wrote: ↑

17 Aug 2023, 3:42 pm

You mean Gaily?
 
Basic anything would be nice.

I think you are right, Ms. Bee may have been my name for her. After she took me out into the hallway with the paddle. Custom paddle no less.
 

ROG62 » 17 Aug 2023, 3:46 pm » wrote: ↑

17 Aug 2023, 3:46 pm

I'm in the 65+ cat...sure thankful I'm on the high side of the 'median'...

I've looked at dozens of articles on the subject. Most government numbers put the average in the $250-290k range. Some of the large investment companies, Schwab, Fidelity, etc. Have published averages in the $400-450k range.

Again, these numbers are just one line item of retirement plans people use. There are still people who haven't saved a lot but still managed to generate a pretty decent income outside of a 401k, IRA.

You have to admit though, those median numbers are not good
 

ROG62 » 17 Aug 2023, 3:48 pm » wrote: ↑

17 Aug 2023, 3:48 pm

the problem being, by the time most figured out they're at or below the median, it's too late...

That may very well be the case but why are they finding out so late in life?

There is the flip side to this, **** happens! There are so many things that can and do go wrong that financially wipe people out, and just plain bad luck.
 

ROG62 » 17 Aug 2023, 3:49 pm » wrote: ↑

17 Aug 2023, 3:49 pm

****, if you don't, no one will...are you a **** libtardo that expects ****? silver platter anyone? anyone? Bueller?

I haven't gotten anything free yet.
I know Republicans don't want to hear it. As Deezer pointed out, that phrase was pointed mostly on the down and out. But it stands to reason that the middle class would take their own advice.

Something's amiss, this can't be the results for supposedly educated people.