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They want to destroy the American economy...

Discussion in 'Too Hot for Swamp Gas' started by gatorchamps960608, Oct 30, 2024 at 7:55 AM.

  1. gatorchamps960608

    gatorchamps960608 GC Hall of Fame

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    as we know it. And they are saying the quiet parts out loud now.



    A side effect of this kind of approach will be the devaluation of the American dollar. When that happens, Bitcoin will soar in which the oligarchs like Musk are heavily invested.

    However, the dollar's status as the world's currency will be destroyed. Oh and btw, Musk has been in regular contact with Putin since 2020 as recently reported. What's bad for America is good for Putin.

    And as far as Trump goes, he wants to return America to the 1890s where the rich and powerful ran everything and everyone else lived on crumbs. Say goodbye to overtime pay, a 40-hour workweek, weekends off and civil rights.
     
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  2. BLING

    BLING GC Hall of Fame

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    It’s the only plausible explanation for 20% tariffs and mass deportions. This guys “economic” fixes would be akin to curing cancer with a shotgun blast to the face. I can’t even guess the inflation rate if all that is implemented (tariff, deportation, debt default).

    Yet we know some zombie voters are basing it on economic reasoning. But muh Big Mac meal costs $10 DoLlArS!
     
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  3. gatorchamps960608

    gatorchamps960608 GC Hall of Fame

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    They are estimating 8-9% inflation which is probably low.
     
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  4. obgator

    obgator GC Hall of Fame

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  5. rtgator

    rtgator Premium Member

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  6. rtgator

    rtgator Premium Member

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  7. 92gator

    92gator GC Hall of Fame

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    Yes, reducing government spending will in fact, cause some short term discomfort.

    And it's necessary.

    And it will yield long term dividends in the form of prosperity.

    Pray tell, what's supposed to be shocking here?

    (The only part that's remotely note worthy, is the idea that anyone in DC will actually do something resembling reducing spending...but the last thing any of *US* needs to do, is shoot down such a balloon when anyone floats such).
     
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  8. rtgator

    rtgator Premium Member

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  9. rtgator

    rtgator Premium Member

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  10. dangolegators

    dangolegators GC Hall of Fame

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    Is anyone planning on making changes to their financial portfolios based on the outcome of the election? Honest question.
     
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  11. rtgator

    rtgator Premium Member

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  12. philnotfil

    philnotfil GC Hall of Fame

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    For me, the shocking part is that anyone believes the Republicans will actually do it this time. How many times do they have to pull away the football before people stop believing them?
     
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  13. dangolegators

    dangolegators GC Hall of Fame

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    I went ahead and put this question in the TH investment thread. I am very curious to see what others are thinking.
     
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  14. rtgator

    rtgator Premium Member

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  15. BLING

    BLING GC Hall of Fame

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    No. It’s a permanent change.

    Building back after a natural disaster or pandemic there is a “bounce” because the economy returns to its natural state.

    Doing something, like (for example) pulling the rug on healthcare for 10’s of millions or firing a couple million govt workers is a permanent shift. It creates a permanent change in their financial status, and along with it permanent demand destruction for those segments of the economy.

    That’s before we get into their gems like 100% tariffs or defaulting on debt. That would fuck up everyone in the country (magnitudes worse than 2008 financial crisis). About the only ones this strategy could possibly make sense to are the oligarch industrialists class looking to pick up the scraps and “tech bros” overly leveraged to crypto against the dollar, as well as foreign adversaries who would of course welcome the economic and political degradation of the U.S.
     
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  16. rtgator

    rtgator Premium Member

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  17. obgator

    obgator GC Hall of Fame

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    Thanks for having the patience to explain this to the numb nuts. Trump and Musk are Putin’s useful idiots.
     
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  18. 92gator

    92gator GC Hall of Fame

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    Yeah. That's pretty much what I said.

    I think we were supposed to be shocked at the underlying economic principal suggested.
     
  19. docspor

    docspor GC Hall of Fame

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    I am certainly interested in seeing others' answers. My wife & I make Bogleheads look like riverboat gamblers. We max out tax deferred accts & that $ goes into index funds. Other $ goes into the S&P 500 index. We do have ind stocks from a good while back. We buy & never sell, rebalance, etc. Having said that, we sold 3 stocks in 2008 to buy a ski condo making sure it was a cap gains wash. Only time we ever sold. We have never paid a penny of cap gains.

    Given our age, our safe inv are that we outright own 3 properties & do have a decent chunk in guaranteed accts currently yielding 5.5%.

    It would break a 25 year trend to "rebalance" or whatevs over an election.

    & my wife has taught finance for 25 years & is an expert on options trading, currency trading & investing in general & spends prob less than 15 mins a year on "investing" - she knows better. In addition to being a finance prof, she does a lot of work for TIAA in behavioral finance on precisely this topic.
     
    Last edited: Oct 30, 2024 at 9:48 PM
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  20. dangolegators

    dangolegators GC Hall of Fame

    Apr 26, 2007
    It's not a question I would normally ask but this isn't a normal election. And I'm nearing retirement. Been really enjoying this bull run. 401k is up 54% in the last year. It might be time for me to move to more conservative investments anyway, but I'm curious to hear what others are thinking in this time of extreme uncertainty.
     
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