Stock market panic around the world due to fears about the US entering a recession

[QUOTE=ZenMaster;14944877]Am curious, how much more wealth do you have today compared to 4,5 or 6 years ago?[/QUOTE]

lol almost everyone has more wealth than pre-covid. That's why we have inflation issues.


[IMG]https://www.advisorperspectives.com/images/content_image/data/35/35ed51551439f27f1f0fb3ec66640e0d.png[/IMG]


Look at the jump after 2020

And the irony is that it is Trump who flooded us all with more wealth and caused the inflation spike.

We are just now getting back into full recovery from it.

But that is how this country does it. Republicans over spend and then Democrats fix the mess only to be voted out again.

[QUOTE=Off the Court;14944899]lol almost everyone has more wealth than pre-covid. That's why we have inflation issues.[/QUOTE]

Low IQ post. The purchasing power of each dollar is a lot less in the Racist bidenflation years than the strong economic years of Trump. Your graph is just gaslighting.

Also, you have to consider that the average household has more people in it these days due to people like yourself (LowIQotc), ObeseAxe, RacistJasper, CopyPasteLegend#32, DemBotJohn, FascistRRR3, and AlwaysWrongBladefd moving back in with their parents or having more roommates due to the exponential rise of the cost of living during 4 years of Racst joe biden.

[QUOTE=AKA_AAP;14945039]Low IQ post. The purchasing power of each dollar is a lot less in the Racist bidenflation years than the strong economic years of Trump. Your graph is just gaslighting.

Also, you have to consider that the average household has more people in it these days due to people like yourself (LowIQotc), ObeseAxe, RacistJasper, CopyPasteLegend#32, DemBotJohn, FascistRRR3, and AlwaysWrongBladefd moving back in with their parents or having more roommates due to the exponential rise of the cost of living during 4 years of Racst joe biden.[/QUOTE]
You type as if you have severe brain damage :lol

[QUOTE=TheMan;14944729]Cry more, fakkit[/QUOTE]

Cry? I'm laughing, ROFL'ing to be exact. I LOVE the suffering that the Racist joe biden economy has put the ISH radical leftists through. I want 8 years of Kamala Harris, I want to see even more economic suffering! :pimp:

[QUOTE=RRR3;14945040]You type as if you have severe brain damage :lol[/QUOTE]

You are an anarcho-communist. That is the truest form of brain damage.

[video=youtube;jyCDK7E35yk]https://www.youtube.com/watch?v=jyCDK7E35yk[/video]

[QUOTE=AKA_Little Ken Ken;14945042]D-DUHHHHHHHH-uhhhh-uhhhh-uhhhhh-uhhh!!!!!!![/QUOTE]
You quite literally support fascism. Don't make me get Proctor, Ken Ken.

[QUOTE=RRR3;14945043]You quite literally support fascism. Don't make me get Proctor, Ken Ken.[/QUOTE]

Don't know who Ken is. But aren't you suppose to be a man? A man would never want to live in a socialist/communist country, because that's not what being a man is about. Go get your sex change, you're a disgrace.

[QUOTE=AKA_Little Ken Ken]:mad:[/QUOTE]
:lol

[QUOTE=Off the Court;14944899]lol almost everyone has more wealth than pre-covid. That's why we have inflation issues.


Look at the jump after 2020[/QUOTE]

Yes I'm sure bladed got a nice story about how his bank account is booming and I'd love to hear it.

[QUOTE]Americans outside the wealthiest 20% of the country have run out of extra savings and now have less cash on hand than they did when the pandemic began, according to the latest Federal Reserve study of household finances.

For the bottom 80% of households by income, bank deposits and other liquid assets were lower in June this year than they were in March 2020, after adjustment for inflation.

All income groups have seen their balances decline in real terms from a peak in 2021, according to the Fed survey. But among the wealthiest one-fifth of households, cash savings are still about 8% above their level when Covid hit. By contrast, the poorest two-fifths of Americans have seen an 8% drop in that period. And the next 40% — a group that roughly corresponds with the US middle class — saw their cash savings drop below pre-pandemic levels in the last quarter.

The figures point to dwindling firepower available for US consumers, whose resilience has kept the economy growing at a rapid clip this year and staved off the recession that many expected. Some analysts warn a downturn is still in the cards as households run low on spare cash.[/QUOTE]

[URL="https://fortune.com/2023/09/25/pandemic-savings-richest-americans-federal-reserve-covid/"]https://fortune.com/2023/09/25/pandemic-savings-richest-americans-federal-reserve-covid/[/URL]

[IMG]https://www.hindustantimes.com/ht-img/img/2023/07/18/original/bank_account_data_1689682745623.png[/IMG]

Regardless of which one of them is better it should be obvious to anyone paying attention that both Biden and Trump serve the rich and not the working class. Anyone who can't see this is propagandized.

[QUOTE=RRR3;14945057]Regardless of which one of them is better it should be obvious to anyone paying attention that both Biden and Trump serve the rich and not the working class. Anyone who can't see this is propagandized.[/QUOTE]

It must be incredibly boring only to ever make the same point over and over again just to be part of the lib superiority contest, that you're so smart and can see through it all that others fall for. Meanwhile you've never managed to solve anything big in life and can't connect the dots on any particular subject.

[QUOTE=ZenMaster;14945054]Yes I'm sure bladed got a nice story about how his bank account is booming and I'd love to hear it.
[/QUOTE]

But it is. Obviously, I'm not a millionaire, but I am not dirt poor. I can afford food and rent. Certainly better now than I was 5yrs ago.

[QUOTE=bladefd;14945212]But it is. Obviously, I'm not a millionaire, but I am not dirt poor. I can afford food and rent. Certainly better now than I was 5yrs ago.[/QUOTE]

You can barely afford food and rent in a red state. But if you were to move to California, you can't say the same thing. That makes you dirt poor, AlwaysWrongBladefd

[QUOTE=ZenMaster;14945207]It must be incredibly boring only to ever make the same point over and over again just to be part of the lib superiority contest, that you're so smart and can see through it all that others fall for. Meanwhile you've never managed to solve anything big in life and can't connect the dots on any particular subject.[/QUOTE]

It’s that Norcaliblunt guy as well. Most reasonable people probably have a problem with both candidates, but there still needs to be conversations on who is the better choice. Whether you want to participate in the conversations is up to you, but going in every thread announcing you aren’t voting for either because they’re both evil… it’s the equivalence to those people who act like they’re above ‘comparing’ players but are in every Lebron vs Kobe thread arguing their side. I don’t agree with you on everything, but at least you have your own opinions and back them up with facts you have access to and converse in good faith. I fvcks with u. :cheers:

[QUOTE=ZenMaster;14945207]It must be incredibly boring only to ever make the same point over and over again just to be part of the lib superiority contest, that you're so smart and can see through it all that others fall for. Meanwhile you've never managed to solve anything big in life and can't connect the dots on any particular subject.[/QUOTE]
^propagandized

[QUOTE=bladefd;14945212]But it is. Obviously, I'm not a millionaire, but I am not dirt poor. I can afford food and rent. Certainly better now than I was 5yrs ago.[/QUOTE]

No wonder you were so bitter during Trump presidency if you couldn't afford food and rent for a place to live. Glad to hear you got more stability in your life now, ISH members shouldn't be sleeping on the streets.

[QUOTE=j3lademaster;14945223]It’s that Norcaliblunt guy as well. Most reasonable people probably have a problem with both candidates, but there still needs to be conversations on who is the better choice. Whether you want to participate in the conversations is up to you, but going in every thread announcing you aren’t voting for either because they’re both evil… it’s the equivalence to those people who act like they’re above ‘comparing’ players but are in every Lebron vs Kobe thread arguing their side. I don’t agree with you on everything, but at least you have your own opinions and back them up with facts you have access to and converse in good faith. I fvcks with u. :cheers:[/QUOTE]

:cheers:

People like RRR3 and Norcal function on certain triggers, meaning that when certain conditions are met within a conversation and given their disruptive thinkining is at the first order(they can only see through one layer), they're "supposed" to parrot their line of thinking that both parties are exactly the same.

There was this great podcast recently with a very smart life long democrat, who explains exactly why people like RRR3, Norcal, RMGW, OTC, bladed etc. behave the way they do. It's fairly fascinating and expained at level of depth I don't care to put down in words on a basketball website, but I highly recommend listening to the first 43 minutes and again from 2:49:00 to the end for the parts relating to politcs and the election.

[video=youtube_share;PYRYXhU4kxM]https://youtu.be/PYRYXhU4kxM[/video]

[QUOTE=ZenMaster;14945348]No wonder you were so bitter during Trump presidency if you couldn't afford food and rent for a place to live. Glad to hear you got more stability in your life now, ISH members shouldn't be sleeping on the streets.[/QUOTE]

:lol :roll:

during trump he made a thread whining about how he can’t afford his internet bill. (he was living with his parents and paying no rent, paying for the internet was his form of contribution and he wasn’t even able to do that.)

[QUOTE=warriorfan;14945351]:lol :roll:

during trump he made a thread whining about how he canÂ’t afford his internet bill. (he was living with his parents and paying no rent, paying for the internet was his form of contribution and he wasnÂ’t even able to do that.)[/QUOTE]

While I'm glad bladed is doing better, his post is a great example that if you knock people down far enough, they will eventually be happy with very little. He did mention a thought about being a millionaire, so there might still be some fire in his soul to do better and I'll give him one for free:

@bladed, once Kamala is made to be the next President, there'll be a new run of immigrants to replace the current population. So what you can do is look into creating an agency in your state which imports foreign workers. As an agency, you will find available jobs(get out and make some deals with various companies who are looking for cheap labor) and handle all applications to streamline the process of coming to America for your clients. You can charge somewhere in the range of 5-10K per client and market this over in Mumbai or similar, people there will find the money.

Of course you'll have some expenses too and it won't all be profit, but at 5K per client you should be able to make good money once you have the process down on how to apply for visa and gvt benefits on their behalf.
Then when you get some money flowing into your company, use that to buy an apartment for the area where you have jobs available, so now you can offer your clients a place to live as well. They'll stay 5-10 people there in one apartment without complaining, giving you good profits through rent - just ask the mayor of Springfield, Ohio.

Maybe get a partner who's good at executing the finding jobs part while you handle the application processes, depends on where you're most comfortable.

[QUOTE=ZenMaster;14945054]Yes I'm sure bladed got a nice story about how his bank account is booming and I'd love to hear it.



[URL="https://fortune.com/2023/09/25/pandemic-savings-richest-americans-federal-reserve-covid/"]https://fortune.com/2023/09/25/pandemic-savings-richest-americans-federal-reserve-covid/[/URL]

[IMG]https://www.hindustantimes.com/ht-img/img/2023/07/18/original/bank_account_data_1689682745623.png[/IMG][/QUOTE]

This doesn't mean a damn thing, for one the balances are still higher at the end, but 2nd no one keeps mass wealth in their bank accounts. Rich people don't even have over $20k in their checking, they put that money to work.

[QUOTE=Off the Court;14945368]This doesn't mean a damn thing, for one the balances are still higher at the end, but 2nd no one keeps mass wealth in their bank accounts. Rich people don't even have over $20k in their checking, they put that money to work.[/QUOTE]

The number covers both checking and savings accounts.

Balances are 11% higher on average, but inflation is more than 11% for the period, hence why the article states that people now have less cash than before the pandemic after adjusting for inflation. All the graphs are trending downwards too, so might not be too long until people have less cash even without this adjustment.

[IMG]https://www.hindustantimes.com/ht-img/img/2023/07/18/original/Money_with_consumers_1689682969904.png[/IMG]

The people in the 1st quartile do keep most of their "mass wealth" in their bank accounts, while the 2nd quartile is split due to 401K options. Per Gallup survey published last month, only 25% of households with a yearly income at 40K or below own stocks, and between 40K-99K there's still one third of households who doesn't own stocks either. The distribution of stocks is also bad, the bottom 50% when it comes to networth only own 1% of US stocks collectively, while the top 10% holds 87%. So while it's a nice thought that all Americans in low income brackets have amassed a bunch of money through stocks and doesn't have cash on their bank accounts because of it, it's not reality for most of those people.

It's natural too, if you only have 2K sitting on your checking + savings account combined and someone hands you another 2K, the first thought for most people isn't to invest that in stocks, especially not if inflation is raging and everything around you is getting more expensive and maybe you're in risk of losing your job as well.

Hardly anyone with considerable wealth keeps it liquid in a bank account of any kind, checking or savings. What people keep laying around as liquid cash is hardly an indicator of any kind but even with what you are showing there is hardly a difference from pre-covid to now. Republicans are trying to sell the notion that everyone is broke and homeless.

So with that, let me ask you like you just asked blade, are you broke and homeless? Are you considerably poorer than you were 5 years ago?

Polling on this topic almost always concludes with the individual being asked saying "I'm fine but everyone else is suffering". And that can be seen on this forum where every Trump voter here declares that they are wealthy but acts like they are some kind of anomaly and everyone else in the country is homeless. When in reality being a millionaire is common AF.

[QUOTE=Off the Court;14945448]Hardly [B]anyone with considerable wealth[/B] keeps it liquid in a bank account of any kind, checking or savings. What people keep laying around as liquid cash is hardly an indicator of any kind but even with what you are showing there is hardly a difference from pre-covid to now. Republicans are trying to sell the notion that everyone is broke and homeless.

So with that, let me ask you like you just asked blade, are you broke and homeless? Are you considerably poorer than you were 5 years ago?

Polling on this topic almost always concludes with the individual being asked saying "I'm fine but everyone else is suffering". And that can be seen on this forum where every Trump voter here declares that they are wealthy but acts like they are some kind of anomaly and everyone else in the country is homeless. When in reality being a millionaire is common AF.[/QUOTE]

Zen is not arguing what you are arguing here. I think he is saying that for majority of Americans... not the considerably wealthy... their declining savings indicates a higher risk they will not be able to meet their debt obligations.

[QUOTE=warriorfan;14945351]:lol :roll:

during trump he made a thread whining about how he can’t afford his internet bill. (he was living with his parents and paying no rent, paying for the internet was his form of contribution and he wasn’t even able to do that.)[/QUOTE]

Ouch. I hope you are joking. Also, isn't AlwaysWrongBladefd in his late 40's?

[QUOTE=j3lademaster;14945223]It’s that Norcaliblunt guy as well. Most reasonable people probably have a problem with both candidates, but there still needs to be conversations on who is the better choice. Whether you want to participate in the conversations is up to you, but going in every thread announcing you aren’t voting for either because they’re both evil… it’s the equivalence to those people who act like they’re above ‘comparing’ players but are in every Lebron vs Kobe thread arguing their side. I don’t agree with you on everything, but at least you have your own opinions and back them up with facts you have access to and converse in good faith. I fvcks with u. :cheers:[/QUOTE]

You gotta talk to people. I am intrigued by rrr3s ideas, but mostly it’s people attacking him. Norcal is also an interesting dude. Sometimes he’s just in troll mode, but others, he seems to want to discuss.

I will type out troll shit when I am like yea not feeling this atm, so i can accept trolling, but it’s amazing how much people on here shout down others who are trying to talk. This matters because it leads to others trolling and shouting them down because they know their input is not valued.

Even on ish there aren’t many people who just post bullshit in regards to anything, including politics… not saying names, but they do exist. There is plenty of fun to be had talking about opinions or how you interpret something. Most people should be able to chuckle at their candidate / favorite player w/e, too.

In general my pov is if you keep engaging people they eventually break character. When people go after someone constantly, it puts them in a box where they are pre-empting attacks.

-Smak

Also on topic I’m shocked bezo zuk and musk have 200b. Foh haha.

That should tell u a lot. I actually look at those billionaire lists and I can tell u I don’t recall them having 100 in 2016~.

-Smak

[QUOTE=ZenMaster;14945348]No wonder you were so bitter during Trump presidency if you couldn't afford food and rent for a place to live. Glad to hear you got more stability in your life now, ISH members shouldn't be sleeping on the streets.[/QUOTE]

Don't you live in Eastern Europe? Why do you care?

[QUOTE=bladefd;14945565]Don't you live in Eastern Europe? Why do you care?[/QUOTE]

lmao

handicapped blade getting triggered

Just wait till he gets a fellow indian in the white house and she does nothing for him or his family, and he will still have the intellectual disconnect and back her.


Amazing :lol

[QUOTE=Off the Court;14945448]Hardly anyone with considerable wealth keeps it liquid in a bank account of any kind, checking or savings. What people keep laying around as liquid cash is hardly an indicator of any kind but even with what you are showing there is hardly a difference from pre-covid to now. Republicans are trying to sell the notion that everyone is broke and homeless.

So with that, let me ask you like you just asked blade, are you broke and homeless? Are you considerably poorer than you were 5 years ago?

Polling on this topic almost always concludes with the individual being asked saying "I'm fine but everyone else is suffering". And that can be seen on this forum where every Trump voter here declares that they are wealthy but acts like they are some kind of anomaly and everyone else in the country is homeless. When in reality being a millionaire is common AF.[/QUOTE]

So what about the 30%ish percent of American households who make 15-50K per year, just ****'em? Point is that there are two functioning economies, one for people who can afford stocks(and enough of them get the compounding benefits over time), and another for the people who can't. The #1 primer for people not already having wealth where compounding profits of stock makes any meaningful difference, will always be their hourly rate.

Nobody is saying that everyone is broke and homeless, that's just your programming as a radical leftist to go straight down the most extreme slippery slope. I never asked bladed if he was broke and homeless, I asked if he has more wealth now than 5 years ago...

I'm personally doing great, but it's not a fair comparison. I figured out a problem that a lot of companies have and can be doing better at solving, as well as a digital solution for it, so now I own a small software company and we're paid by businesses on a subscription basis.

[QUOTE]Don't you live in Eastern Europe? Why do you care?[/QUOTE]

No, I don't live in Eastern Europe and I would need a very good reason to ever move there. I know you have silly fantasies about me working for Putin and getting bonuses paid in Iranian gold, but same as OTC that's your programming as a dumb radical leftist to seek an extreme slippery slope.
I'm generally a compassionate guy and like I told you, I wouldn't wish for anyone on ISH to be living in on the streets.

[QUOTE=ZenMaster;14946255]So what about the 30%ish percent of American households who make 15-50K per year, just ****'em?[/QUOTE]

How would you personally go about evening out the distribution of wealth? What is your solution?

[QUOTE=Off the Court;14946339]How would you personally go about evening out the distribution of wealth? What is your solution?[/QUOTE]

Get a job, be innovative, invest, get out of your mom's basement

[QUOTE=BigKobeFan;14946348]Get a job, be innovative, invest, get out of your mom's basement[/QUOTE]

Exactly. We're all set. It's on the people.

[QUOTE=Off the Court;14946339]How would you personally go about evening out the distribution of wealth? What is your solution?[/QUOTE]

Just need more production jobs which are more valuable than taking food orders, tariffs against near shoring and off shoring will solve that.