Good News for those saving for retirement or for those who are already retired.
What is my thinking here?
I believe the bought Congress & federal government leaders will bail out corporate interests & wealthy that own ~90% of the stock market as they did in 2008. Of course, any future bailout will be claimed that it is in the interest of the middle class.
Dr Lucas of MIT calculated that the bailout cost nearly 1/2 trillion dollars*. And largely benefited the large, unsecured creditors of large financial institutions. While their exact identities have not been made public, most are likely to have been large institutional investors such as banks, pension and mutual funds, insurance companies, and sovereigns.
*cheap compared to the trillions spent on US foreign adventures in Afghanistan & Iraq & Syria & Libya. And had a better result.
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Yep. The Obama Administration also had the authority to do something like “allow foreclosed homeowners to remain in the home, pay a market rent, and lose your equity.” But instead it was decided that it was essential that the “moral hazard” the wealthy escaped be enforced on middle-class homeowners who were kicked to the curb after making poor rent vs. buy decisions. The homes were left empty for years before finally selling them en masse to private equity at 20% to 30% of their former value.
That’s why Corporate DEMs are just as bad.
intercst
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Yep, in many ways, but at least we got Obama Care. Saved my life.
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This thread should now be flagged, hidden and unlisted. Great commentary prior though.
My favorite thing in the whole world are stereotypes.
stereotype
1 : a plate cast from a printing surface
2 : something conforming to a fixed or general pattern
especially : a standardized mental picture that is held in common by members of a group and that represents an oversimplified opinion, prejudiced attitude, or uncritical judgment
(1) for interest
(2) for comments about DEMs and REPs
I dunno. The post was about looking how politics could likely save one’s retirement portfolio from a destroying depression downturn.
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