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Trump Administration apologizes to G.B.

fmw said:
His agenda. None of the things you mentioned are part of it. You may want to visit the appropriate websites to learn what the agenda actually is. There is no need for me to repeat it here. It is public knowledge.
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You deflect- what part of the many promises Trump has made do you like and want to see enacted.

As far as what is public knowledge- Trump made YUGE waves over replacing the ACA- it will be soooo easy and soooo cheap and will be done IMMEDIATELY... :shock:

For all he claimed to be the el Supremo negotiator he made it one and done on his signature campaign pledge.

Quite frankly his 'public knowledge' promises are falling apart as fast as a hooker's promise.... :peace
 
haymarket said:
Average workers earn the bulk of their money through wages. Upper class folks make lots lots more from investments.

That simple reality explains why there is no direct relationship between rises in the stock market and the wages of working people.

I agree that you need to supplement SS in retirement. I would suggest a good pension negotiated by a strong union. It works beautifully for me.
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Works beautifully is an interesting phrase. Few companies can afford to pay this type of benefit anymore. Few employees, far below average, get a pension anymore.

You seem to be interested in the "Average Guy", but the guy getting a pension is no longer the "Average". In truth that's the exception. Under a quarter of the folks who retire now get a pension. Take away retirees from government and that number drops like a stone in a pond.

For the Average guy, investment in a 401K or a similar tool is essential.

Closing your eyes to reality and changing reality are two very different things.

Good Question: How Many Of Us Still Get A Pension? « WCCO | CBS Minnesota
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According to the Bureau of Labor Statistics (BLS) about 22 percent of full-time private industry workers recently got a defined pension benefit.

That compares to 42 percent in 1990.

“In the public sector, defined benefits are still the norm, so governmental employees like teachers and police officers get it. Very few private sectors do,” Monahan said.

According to BLS, 92 percent of full-time government employees got pensions in 2011.
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code1211 said:
Works beautifully is an interesting phrase. Few companies can afford to pay this type of benefit anymore. Few employees, far below average, get a pension anymore.

You seem to be interested in the "Average Guy", but the guy getting a pension is no longer the "Average". In truth that's the exception. Under a quarter of the folks who retire now get a pension. Take away retirees from government and that number drops like a stone in a pond.

For the Average guy, investment in a 401K or a similar tool is essential.

Closing your eyes to reality and changing reality are two very different things.

Good Question: How Many Of Us Still Get A Pension? « WCCO | CBS Minnesota
<snip>
According to the Bureau of Labor Statistics (BLS) about 22 percent of full-time private industry workers recently got a defined pension benefit.

That compares to 42 percent in 1990.

“In the public sector, defined benefits are still the norm, so governmental employees like teachers and police officers get it. Very few private sectors do,” Monahan said.

According to BLS, 92 percent of full-time government employees got pensions in 2011.
<snip>
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I realize the trends you describe are real and happening. And they are bad for workers - good for corporations and employers.
 
haymarket said:
I realize the trends you describe are real and happening. And they are bad for workers - good for corporations and employers.
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Thank you for finally accepting that.

Given that acceptance, do you know see the connection between changes in the financial markets and the fortunes of the average guy?

As I see it, financial market changes affect interest rates, retirement income and a feeling of personal security.

I rarely borrow money so the interest rates are not a big deal, but the 401K performance is. When I was in my earlier earning days, it was the opposite.

The Financial Markets impact everyone. They are like the movement of the air around us. In normal times, no problem. In extraordinary times, you better tie down the patio furniture.
 
code1211 said:
Thank you for finally accepting that.

Given that acceptance, do you know see the connection between changes in the financial markets and the fortunes of the average guy?

As I see it, financial market changes affect interest rates, retirement income and a feeling of personal security.

I rarely borrow money so the interest rates are not a big deal, but the 401K performance is. When I was in my earlier earning days, it was the opposite.

The Financial Markets impact everyone. They are like the movement of the air around us. In normal times, no problem. In extraordinary times, you better tie down the patio furniture.
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NO. I do not see the connection - especially for those whose income is such that they really and truly have nothing left after the paycheck is cashed and bills are paid. In fact, many live in debt because the paycheck does not even cover their expenses.

I get it that for people who make a comfortable living and can afford to sock away 10% or more of their pay over forty years - life is going to be good when they retire and have that nice amount there for them. But the beauty of a pension was that it was automatic and deferred compensation that the worker never saw and could not spend no matter what. And for many - especially the average worker - I think that was a much better and safer and more secure system.
 
haymarket said:
NO. I do not see the connection - especially for those whose income is such that they really and truly have nothing left after the paycheck is cashed and bills are paid. In fact, many live in debt because the paycheck does not even cover their expenses.

I get it that for people who make a comfortable living and can afford to sock away 10% or more of their pay over forty years - life is going to be good when they retire and have that nice amount there for them. But the beauty of a pension was that it was automatic and deferred compensation that the worker never saw and could not spend no matter what. And for many - especially the average worker - I think that was a much better and safer and more secure system.
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Probably so, but the days of the pension except in the realm of government where the employer can steal the money from many to pay few, the pension is going away.

The way that a 401K functions allows anybody to make a contribution tho their own future and not impact their take home in a noticeable amount.

Reality today for those working outside of outside of government, is that a 401K is essential.

For the people you describe, there will be a time when they will need to apply for and then repay a loan. The interest rates, that derive from the changes in the Financial Markets, will have an impact on their ability to repay and on the funds they have left after the loan payments to do other stuff.

You don't seem to be incapable of grasping this. Why are you denying it?
 
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