Holds true for stocks and cards

[55koufax]

Why not just get to the bottom line for us CA residents.......

1. A min 5 figure stimulus check from Joe Biden that is specifically to be spent on sportscards.

2. A min 4 figure check of the same from the brilliant CA Gov Gavin Newsome.

So when the crash is upon us, we will have been twice $$ stimulated to spend again (and again....)

[Snapolit1]

Yeah sure. It's outrageous to give money to unemployed working class folks. Much better when we gave it two years ago to poor people who needed enhanced tax deductions for racehorses and private jets.

Originally Posted by 55koufax

Why not just get to the bottom line for us CA residents.......

1. A min 5 figure stimulus check from Joe Biden that is specifically to be spent on sportscards.

2. A min 4 figure check of the same from the brilliant CA Gov Gavin Newsome.

So when the crash is upon us, we will have been twice $$ stimulated to spend again (and again....)

[tschock]

Originally Posted by Snapolit1

Yeah sure. It's outrageous to give money to unemployed working class folks. Much better when we gave it two years ago to poor people who needed enhanced tax deductions for racehorses and private jets.

Perhaps. But it was also outrageous to give stimulus money to people receiving a fixed income and/or disability. Their income was not impacted one whit by the virus.

[Rhotchkiss]

Sorry, I can’t help myself- the stimulus was/is an F-Ing joke. It is not “aid”, it’s stimulus, intended to kick start an economy that really was not doing bad. I am all for aid. But this was not aid. I have no problem giving money for people in need to pay rent, buy groceries, food and gas, etc. But this round of checks was not that. Like the first round, it was a total giveaway of an arbitrary amount of money based on arbitrary limits, with no regard to need or geography (latter point being $1000 goes much further in Arkansas than in Manhattan).

I pay a lot in taxes. And I am sure I will pay more under this administration. And I don’t mind that, if my money was being used properly. But just writing checks to people, in a decent economy, regardless of need or where they live and based on arbitrary income limits (having nothing to do with need), is 1000% wasteful and despicable.

As for the card market - people will get killed, totally crushed. As they will with stocks, and wines, and real estate, etc. I think we headed are off a cliff, which actually presents opportunity. I have felt this way for a long time. I knew the card market was in for it When random bankers and brokers stopped emailing me articles about cards and instead sent me pictures of the cards they recently invested in. That said, I think some cards (and stocks and real estate, etc) will hold up much better than others, and may actually increase in value. All that said, I don’t know shit......

[egri]

Originally Posted by Rhotchkiss

Sorry, I can’t help myself- the stimulus was/is an F-Ing joke. It is not “aid”, it’s stimulus, intended to kick start an economy that really was not doing bad. I am all for aid. But this was not aid. I have no problem giving money for people in need to pay rent, buy groceries, food and gas, etc. But this round of checks was not that. Like the first round, it was a total giveaway of an arbitrary amount of money based on arbitrary limits, with no regard to need or geography (latter point being $1000 goes much further in Arkansas than in Manhattan).

I pay a lot in taxes. And I am sure I will pay more under this administration. And I don’t mind that, if my money was being used properly. But just writing checks to people, in a decent economy, regardless of need or where they live and based on arbitrary income limits (having nothing to do with need), is 1000% wasteful and despicable.

As for the card market - people will get killed, totally crushed. As they will with stocks, and wines, and real estate, etc. I think we headed are off a cliff, which actually presents opportunity. I have felt this way for a long time. I knew the card market was in for it When random bankers and brokers stopped emailing me articles about cards and instead sent me pictures of the cards they recently invested in. That said, I think some cards (and stocks and real estate, etc) will hold up much better than others, and may actually increase in value. All that said, I don’t know shit......

Out of myself, my parents, and my sister, I have by far the most stable income and am the only one who didn’t lose a red cent in all this. I was the only one of the four to get the stimulus checks.

[Leon]

Originally Posted by egri

Out of myself, my parents, and my sister, I have by far the most stable income and am the only one who didn’t lose a red cent in all this. I was the only one of the four to get the stimulus checks.

My best friend of 31 yrs has an insurance agency with several employees. He is very profitable and hasn't lost too much during the pandemic so far. He has probably gotten more by now but he got 50k of free money, stimulus BS, for not laying employees off that he had no intention of ever laying off. Well spent tax money right there.
Our society has apparently lost it's collective sense. How smart do you have to be to figure out if you pay someone more to not work than to work, they will choose to not work? Of course there will be exceptions but is this basic principle, like the more money there is the less it's worth, so hard to grasp? The very people all of this is supposed to help are going to get hurt the worst in the long run. Just one person's opinion and your mileage may vary.

Rant over...

.

[egri]

Originally Posted by Leon

My best friend of 31 yrs has an insurance agency with several employees. He is very profitable and hasn't lost too much during the pandemic so far. He has probably gotten more by now but he got 50k of free money, stimulus BS, for not laying employees off that he had no intention of ever laying off. Well spent tax money right there.
Our society has apparently lost it's collective sense. How smart do you have to be to figure out if you pay someone more to not work than to work, they will choose to not work? Of course there will be exceptions but is this basic principle, like the more money there is the less it's worth, so hard to grasp? The very people all of this is supposed to help are going to get hurt the worst in the long run. Just one person's opinion and your mileage may vary.

Rant over...

.

I agree, but the last time Congress could credibly be accused of fiscal responsibility was during Calvin Coolidge's administration.

[jgannon]

Originally Posted by Snapolit1

Yeah sure. It's outrageous to give money to unemployed working class folks. Much better when we gave it two years ago to poor people who needed enhanced tax deductions for racehorses and private jets.

I think your sardonic remark is right on the money. We have two economies here in the U.S. and many people really needed the stimulus. Through no fault of their own, millions lost their jobs - and their health insurance - during the pandemic. As mentioned by some on this thread, there may have been some people who didn't need the stimulus money, which incidentally was means-tested, but there were a whole lot who absolutely did. The stimulus wasn't a joke, but a lifeline for many. And probably unfortunately, only a temporary one.

[brian1961]

Well said, Mr. Luckey. You present another example (society's current collective sense) depicting decisions void of common sense are exceedingly common. -- Brian Powell

[Mark17]

Originally Posted by brian1961

Well said, Mr. Luckey. You present another example (society's current collective sense) depicting decisions void of common sense are exceedingly common. -- Brian Powell

Actually, and unfortunately, if you are a politician, it makes perfect sense to throw other peoples' money (or imaginary, newly created money) to the masses in exchange for their support and votes.

I don't think there are more than three or four people in our federal government who are actually serious about fiscal responsibility, and frankly, I don't know who they are.

So I disagree - throwing around free money DOES make sense to those who are doing it.

[icurnmedic]

When a high schooler ( my second cousin) is getting $300+/week in "aid" something is wrong. And yes, she lives with 2 parents who work. Meanwhile in my house , stimulus is a rumor.

[Mark17]

Originally Posted by icurnmedic

When a high schooler ( my second cousin) is getting $300+/week in "aid" something is wrong. And yes, she lives with 2 parents who work. Meanwhile in my house , stimulus is a rumor.

When I got my first automatic stimulus payment direct deposited to my bank account (which is how I pay federal income tax,) I got a letter in the mail telling me it was a payment from the government and signed (facsimile) by the former President. When I received the latest "stimulus" payment, I received 2 such letters, with the current President's signature. So they give you money, then make sure you know who gave it to you.

Then they hope and assume, in the future, you will vote for Santa Claus instead of someone fiscally responsible. There is a method to their madness.