American Retirement Plans

[jasonc]

We could produce steel again. We used to produce lots of steel, before bankers gave the market to China. Industry requires savings, which the US doesn't have because bankers punish savers. China has a 50% savings rate, so they have the industry.



Income taxes. Without bankers inflating revenue away, it would again support the navy.



Oh come on. Homes would hold their value just fine. Homes didn't lose 2/3 of their value in countries when they were on the gold standard. By contrast, when bankers printed a housing mania in 2007, homes lost much of their value in 2008. People who bought the top of the mania were in a situation. Honest money keeps prices stable.

So crashes didn't happen on the Gold standard?

So I should sell my home for what i.paid fir it ,not what the price without interest?

 

[jasonc]

The bankers didn't ,the trade agreement did abd union forced the steel company to fall.

 

[godsquadgeek]

Pensions for the majority are nearly impossible to fund with negative real interest rates. Instead, megacorp is switching to the 401k. Don't even ask about pensions at mini companies.



Workers notice that a dollar saved today will not be worth as much in 40 years. Most are not bothering to save anything at all, or only a trivial amount. The median savings of the moderate income group is about $25,000. Social Security is about $1400 per month for them.

I have a 401k too, but it makes 20-40% a year on good years and negative that amount on bad years. Right now I am really excited about crypto currency. Just today alone some of these newer cryto coins are making headline all time highss:

in last fifteen minutes, TRX went up to 55%

as long as you have good networks to alert you when you are oversold, your in the money. I am plus 100% in last month.
right now, the above coins is what i am trading. best to hold a little in each.

not bitcoin cash and not ethereum. just to top three.

available on binance.com, if computer site crashes get the app on your phone. buy market when alot of buyers happening.

 

[Michael74]

An ongoing agricultural depression in the West and South...

Here's the thing. The agricultural situation had nothing to do with a gold standard. It happened because of the Civil War. During the Civil War, General Sherman eliminated a significant percentage of southern farming. Northern farmers benefited, ramping production to fill the gap. After the war, southern farming gradually started up again, competing with northern farms. Not as many northern farms were needed, so they had to trim production back. People can only eat so much food.

 

[Michael74]

...as long as you have good networks to alert you when you are oversold, your in the money. I am plus 100% in last month.

Congratulations. You seem to have a talent for finances. Some people do. Warren Buffet has made billions for his charities.

Research indicates that the average person can't outperform the balanced index. If they try, they tend to go backward.

Digital currencies are experiencing deflation. People are flocking to them now in a desperate attempt to escape negative real interest rates, but I wonder if they may be in a mania? If more people get access to digital currencies in their 401k, it may help. At least once the mania comes back to earth.

 

[Michael74]

The bankers didn't ,the trade agreement did abd union forced the steel company to fall.

China produces as much steel as the entire rest of the world put together. This isn't because of unions. Its because their 50% savings rate allows them to install the most modern robots in their industry. Doing things by hand can't compete with robotic production.

 

[jasonc]

China produces as much steel as the entire rest of the world put together. This isn't because of unions. Its because their 50% savings rate allows them to install the most modern robots in their industry. Doing things by hand can't compete with robotic production.

And it isnt?why do bmw,toyota,honda,aND nissan build with cheaper labor or is paying unskilled labor 33 per hour to operate fork lift right?

I was paid 7 bucks per houto install a tail light,in plants it's triple that. Really not union?
You ,once again are complaining about govt trade policy, aND monetary policy of the federal reserve .which isn't a bank.

I'm not for bubbles ,yes we could buy to do so will raise costs of making cars as Chinese labor Is cheaper. Unions won't allow that.

 

[godsquadgeek]

Congratulations. You seem to have a talent for finances. Some people do. Warren Buffet has made billions for his charities.

Research indicates that the average person can't outperform the balanced index. If they try, they tend to go backward.

Digital currencies are experiencing deflation. People are flocking to them now in a desperate attempt to escape negative real interest rates, but I wonder if they may be in a mania? If more people get access to digital currencies in their 401k, it may help. At least once the mania comes back to earth.

it is a bubble I admit, but it's a bubble that can last another few years if people keep flocking to crypto's at the current rate. A friend of mine has made 10's of thousands on crypto's in last 2 months. I unfortunately have lost most of my funds day trading and have a little left to play with in crypto's But even a few hundred at a few thousand percent interest can be a nice used car, or a good sum to put in a 401k.

 

[Michael74]

it is a bubble I admit, but it's a bubble that can last another few years...

Yes it can. I don't personally day trade. I mostly like to buy things, and then forget them for a decade or so till they magnify. One example, I bought Vanguard's Health Care fund in 2000, when it was inexpensive. Then 15 years later sold for a handsome profit. That's my preferred personal investing style.

Binance doesn't make public their security arrangements. It may not be suitable for me, since I can't verify if it will still be there in a decade. Thank you for the tip though. I will ponder this some more.

 

[Michael74]

And it isnt?why do bmw,toyota,honda,aND nissan build with cheaper labor...

I recently bought a Ford Escape. American union labor, as far as I know. Its price was competitive with Toyota and such. I compared several SUVs from different manufacturers before deciding what to buy. The main thing that seems to be dragging down US car makers is having to provide health insurance, which manufacturers in no other country have to do.

Certainly though, the US can be made more competitive on the international market by lowering inflation. Americans can't possibly subsist on what Chinese are paid per hour. Cheaper prices here would translate into a better competitiveness on the international market. The main thing though is automation. We need to use as many machines as China does to remain competitive. This requires savings, which we don't have because bankers are punishing savers. Machines do most of the work in manufacturing nowadays. Machines determine competitiveness. If you walk through a modern steel mill, and I have, there are very few people. Mostly all you see is giant machines doing things. Almost nothing is done by hand in a state of the art manufacturing plant.

 

[godsquadgeek]

Yes it can. I don't personally day trade. I mostly like to buy things, and then forget them for a decade or so till they magnify. One example, I bought Vanguard's Health Care fund in 2000, when it was inexpensive. Then 15 years later sold for a handsome profit. That's my preferred personal investing style.

Binance doesn't make public their security arrangements. It may not be suitable for me, since I can't verify if it will still be there in a decade. Thank you for the tip though. I will ponder this some more.

Tonight one coin had a high of 85% gain in 24 hours, the peak trading crashed the site, but the android version worked. Definitely something to check out. I will buy it on next dip it's called tron or trx. I think lots of people are buying and holding. Trx icx and one other.

 

[Michael74]

People who bought Bitcoin when it was new, then put away their Bitcoin wallets for years, did very well. I wonder if applying the same strategy to some of the new currencies might work out also. Of course the mania might deleverage, and some of them could disappear.

 

[Michael74]

Tron has had a solid month in general, up over 3000%, but the jumps of the last few days have perhaps been the most significant, and are due to some news from founder Justin Sun that Tron has some big partnerships lined up.

Tron has lined up partnerships with game companies.

 

[godsquadgeek]

Tron has lined up partnerships with game companies.

yes, but all exchanges have been crashed since last night. Which is risky, meaning you can't get out if you want to cash out quickly. Too many users too quickly. Tron is up to 159 percent for twenty four hours.

 

[Michael74]

The C-CPI-U is now being used by the GOP, which will move the majority backward in the long run. The majority will have less net pension and retirement savings to spend, as well as less net pay to save for retirement out of. If they start using this to calculate Social Security too, the majority will have less Social Security to spend also.

... Chained CPI consistently shows inflation .2 to .3 percent lower than traditional indices for measuring annual inflation.

Retiree inflation is more accurately tracked by the CPI-E, which shows that their inflation is beyond the regular CPI. The GOP is going the wrong way. The majority are being oppressed, especially the elderly.

 

[ezra]

The main thing though is automation.

that only takes jobs away

 

[jasonc]

that only takes jobs away

it will shift. someone has to maintain them and also well electronics do whacky things. cars took jobs from stage coaches and so forth, and also oil killed the whale hunting industry. I don't think we will see a fully robotic working society,

 

[Michael74]

that only takes jobs away

We can't stop other countries from automating. If we want our goods to be competitive on the world market, we must automate too. Otherwise no one will buy our products, as they will be hideously expensive compared to other nations' products. Then even the mechanics who maintain machines will be out of a job. This will lead to twice as much unemployment as automating does. We can save half of the jobs by automating, which is better than saving no jobs.

The key is to invent new jobs producing brand new types of products to employ the rest. Among other things, this requires savings, and an honest dollar so that businesses have an accurate metric of what shoppers really want to buy.

 

[ezra]

it will shift. someone has to maintain them and also well electronics do whacky things. cars took jobs from stage coaches and so forth, and also oil killed the whale hunting industry. I don't think we will see a fully robotic working society,

at briggs they automated biggest part of the crankshaft machinery . much of the time at least one or more of the bots cause a break down . keeps them from getting the production numbers they need. creating more over time. our dept went automated caused our numbers to drop . the only jobs i see being created is stores o yes to get the manufacturer techs in to fix the little bugs we have. since automation will cost around $11000.00 for them to tweak them..might i add the equipment is less than a year old..might i add these machines are from Taiwan china but built in the united states. we have been sold out to china

 

[Michael74]

it will shift. someone has to maintain them and also well electronics do whacky things. cars took jobs from stage coaches and so forth, and also oil killed the whale hunting industry. I don't think we will see a fully robotic working society,

Yes, machines require people to maintain them. Also, people are constantly inventing new products, which requires workers. Our country would be hopelessly un-competitive if 97% of the population were still subsistence farming with oxen.