Retirement

[cp176]

If you can get paid to not work, and make almost the same that you would if you were working, why would someone work? Of course that money isn't free for everyone, since it comes from taxpayers and from the Fed printing new money (which devalues the dollar and also affects taxpayers).

This is the direction I was going for sure. This method of trying to help because of COVID has helped to create the inflation that we are all experiencing today.

[notin]

If you can get paid to not work, and make almost the same that you would if you were working, why would someone work? Of course that money isn't free for everyone, since it comes from taxpayers and from the Fed printing new money (which devalues the dollar and also affects taxpayers).

That is not how unemployment works.

1. The Great Resignation involved people voluntarily their jobs. These people are not eligible for unemployment benefits, which are solely for laid off workers.
2. Unemployment insurance is paid by your former employer, not taxpayer dollars.
3. You don’t get the same money, or close to it. You get a percentage of an account paid by your former employer. If you collect for too long, the amount you receive drops. Eventually it runs out and you are no longer eligible and have to apply for an extension.
4. The Fed does print new money and debate the dollar, but not for reasons related to unemployment but rather to pay off foreign loans and debts.

[notin]

This is the direction I was going for sure. This method of trying to help because of COVID has helped to create the inflation that we are all experiencing today.

The inflation was caused indirectly by COVID.

Money follows the same laws of supply and demand as everything else, as bkz indicated.

The stimulus checks sent to everyone by the Trump administration and later by the Biden administration created the surplus of money in circulation which in turn devalued the dollar. It’s a smaller scale of the hyperinflation that happened in Venezuela when Chavez’ successor Maduro tried to combat a tanking economy by printing more and more money (against all the advice he allegedly received).

Couple these stimulus checks - which were necessary for a lot of people and absolutely the right move - with other factors like raising minimum wage and the inflation was inevitable.

(Please feel free to correct my extremely basic knowledge of macroeconomics, anybody.)

[cp176]

The inflation was caused indirectly by COVID.

Money follows the same laws of supply and demand as everything else, as bkz indicated.

The stimulus checks sent to everyone by the Trump administration and later by the Biden administration created the surplus of money in circulation which in turn devalued the dollar. It’s a smaller scale of the hyperinflation that happened in Venezuela when Chavez’ successor Maduro tried to combat a tanking economy by printing more and more money (against all the advice he allegedly received).

Couple these stimulus checks - which were necessary for a lot of people and absolutely the right move - with other factors like raising minimum wage and the inflation was inevitable.

(Please feel free to correct my extremely basic knowledge of macroeconomics, anybody.)

You are likely quite right about much that you have said. I certainly am no economist. I certainly have common sense questions which likely aren't going to be answered here: How has each individual state used the covid money that they received? Do any states still have some of that money remaining? Billions of dollars were used fraudulently. What is up with that? I'm hopeful that much of the covid money went to truly needy people. I do not think that I am in the minority when I say that I saw a great just distributed indescrminantly to people that absolutely didn't need nor did they want it. Kind of a political statement that I apologize for making.

[notin]

You are likely quite right about much that you have said. I certainly am no economist. I certainly have common sense questions which likely aren't going to be answered here: How has each individual state used the covid money that they received? Do any states still have some of that money remaining? Billions of dollars were used fraudulently. What is up with that? I'm hopeful that much of the covid money went to truly needy people. I do not think that I am in the minority when I say that I saw a great just distributed indescrminantly to people that absolutely didn't need nor did they want it. Kind of a political statement that I apologize for making.

Oh I’m no economist either.

So before we go down a political corruption rabbit hole where sides he chosen (“The Republicrats are all evil and corrupt!! Not like the Democans!!”), let’s swing back to unemployment.

It’s not tax money. Unemployment insurance is paid by a (former) employer to the government to hold for layoffs. It’s essentially your money the government is holding for you.

One of the real issues COVID crated was a re-evaluation in lifestyles. Once some people learned the set could work from home, the next logical step was - home Durant need to be anywhere near work. The most common migration in 2020 was people moving from NYC to Boise, Idaho where they could keep their NYC salaries combined with a Boise cost of living. This also contributed to many 2 income families becoming one income families…

[cp176]

Oh I’m no economist either.

So before we go down a political corruption rabbit hole where sides he chosen (“The Republicrats are all evil and corrupt!! Not like the Democans!!”), let’s swing back to unemployment.

It’s not tax money. Unemployment insurance is paid by a (former) employer to the government to hold for layoffs. It’s essentially your money the government is holding for you.

One of the real issues COVID crated was a re-evaluation in lifestyles. Once some people learned the set could work from home, the next logical step was - home Durant need to be anywhere near work. The most common migration in 2020 was people moving from NYC to Boise, Idaho where they could keep their NYC salaries combined with a Boise cost of living. This also contributed to many 2 income families becoming one income families…

hmmm interesting - only one little correction - The Democrats are all evil and corrupt and hypocritical!!! Not like the Republicans . Democans and Republicrats ouch. I just have to let this go. lol

[jacksonianmarch]

I think the biggest thing to impart to all of the younger folk is to know your worth. If you have a unique skillset that can be used to freelance, do so on the side. Always good to have multiple streams of income should one go away. It would allow you to weather any storm

[jacksonianmarch]

Oh I’m no economist either.

So before we go down a political corruption rabbit hole where sides he chosen (“The Republicrats are all evil and corrupt!! Not like the Democans!!”), let’s swing back to unemployment.

It’s not tax money. Unemployment insurance is paid by a (former) employer to the government to hold for layoffs. It’s essentially your money the government is holding for you.

One of the real issues COVID crated was a re-evaluation in lifestyles. Once some people learned the set could work from home, the next logical step was - home Durant need to be anywhere near work. The most common migration in 2020 was people moving from NYC to Boise, Idaho where they could keep their NYC salaries combined with a Boise cost of living. This also contributed to many 2 income families becoming one income families…

Both sides caused inflation. QE was Obama's baby due to the 2008 recession. The printing of money due to the covid pandemic was a Trump thing. Eventually everyone pays the piper when you print money.

[Deja Doh]

DJI - 35,700 October 20, 2021; 34,939 November 17, 2023.
S&P500 - 4,544 October 20, 2021; 4,511 November 17, 2023.
Bit - 62,800 October 20, 2021; 36,340 November 17, 2023
If you were long and held inflation kicked your ass.

When I posted this below in October 2021 bitcoin was over 62,800, now it's 19,200. The DJIA and S&P500 are below December 2020 levels (21 months ago). And it's not even the new Federal fiscal year yet (October 1). Hold onto your seats because this roller coaster is at the top of the track and there are no brakes. All is not well.

[jacksonianmarch]

Long term, the market is a good investment. We can all cherry pick info to support a point. Heck, we had a lost decade in the early 2000s followed by a tripling of the dow and S and P.

[moonslav59]

Long term, the market is a good investment. We can all cherry pick info to support a point. Heck, we had a lost decade in the early 2000s followed by a tripling of the dow and S and P.

Exactly. Just never sell stocks at a low point, and you could have never lost.

[Bellhorn04]

Long term, the market is a good investment. We can all cherry pick info to support a point. Heck, we had a lost decade in the early 2000s followed by a tripling of the dow and S and P.

Agreed, jax.