Are there two sets of rules?

[Gregmal]

Since @crs223got offended and the last poll was removed, I’ll rephrase in a totally non political way. Are there two sets of rules? And do rules get changed when normal people finally figure out how to play the game? 
 

Obviously right now it’s unacceptable that monied up folks have to compete with first time home buyers or that workers have so much leverage against big corporations. As such, we need to snuff them out.
 

But even before this, hedge funds were allowed to behave like Melvin Capital but then once the little guy figured out how to GameStop the system, it was deemed reckless and unfair. Congress has been allowed to trade with info that would send normal people to jail. Gates and Epstein… examples are numerous. Is this how the stock market and economy will play out over the next year or so? The elitists lobbying for changes and actions that oh just coincidentally happen to benefit …the wealthy elitists? 

[LC]

Yes and yes. Cmon is this poll for real? Look at tax law for a zillion examples.

[crs223]

Not offended.  I love internet political discussions.  I would gladly pay $25/month for access to a dedicated COBF politics forum.

[Gregmal]

Politics is just the excuse to barricade the topics and revert to divide and conquer strategy. Is it all just a coincidence that the actions being proposed, largely only benefit the people proposing them? I mean even good old Dave Einhorn stated today, the obvious. Fed is NOT the one with the tools to solve the inflation issue. Why so much lobbying? 

Edited June 9, 2022 by Gregmal

[Thrifty3000]

49 minutes ago, LC said:

Yes and yes. Cmon is this poll for real? Look at tax law for a zillion examples.

+1

[Gamecock-YT]

It's A BIG Club & You Ain't In It!

[Gregmal]

In another thread there’s info stating that household wealth is up, liquid assets are up, and folks in general, are in really good shape. First thought is….wow that’s good.

 

Nope! we need to put an end to this widespread prosperity. Some system eh? All those folks are comfortable…we need to make them uncomfortable again. Make them work more hours. Maybe force their employers to fire them. Can we find an excuse? Oh, look, the lowest 10% who is utterly useless and helpless and regardless of the environment, incapable of succeeding…is really feeling the pinch!  We must slow things down for them.

[Gregmal]

Paul Pelosi is tired of having to pay 35x for Microsoft shares! It’s driving him to drink! We must get the pee ons out of the market.

[Parsad]

7 minutes ago, Gregmal said:

In another thread there’s info stating that household wealth is up, liquid assets are up, and folks in general, are in really good shape. First thought is….wow that’s good.

 

Nope! we need to put an end to this widespread prosperity. Some system eh? All those folks are comfortable…we need to make them uncomfortable again. Make them work more hours. Maybe force their employers to fire them. Can we find an excuse? Oh, look, the lowest 10% who is utterly useless and helpless and regardless of the environment, incapable of succeeding…is really feeling the pinch!  We must slow things down for them.

 

Are you slowing things down, or trying to lift people up? 

 

Greg, if you are ever in a car crash, or God forbid suffer some devastating setback, I hope the person that offers their hand to help you or your family doesn't think the same sort of thing that went through your head..."utterly useless and helpless"!

 

I've been through a lot of things in my life...just like most people...and for all intents and purposes, I could be viewed as a moderate success, but there have been a couple of periods where I could have been as down and out as the dregs of society you unintentionally maligned.  There but for the grace of God go I...humanity isn't a left or right thing.  

 

Cheers!

[Parsad]

12 minutes ago, Gregmal said:

Paul Pelosi is tired of having to pay 35x for Microsoft shares! It’s driving him to drink! We must get the pee ons out of the market.

 

Ok, so you pick Paul Pelosi and rightfully so, since he is an ass and his wife is a hypocrite.  But you could have also chosen to point out Trump's tax follies...equally disgusting.  And before you say it, I'm happy to throw Hunter Biden into this shithole too.  But let's stop the partisan politics hidden as economic rationale.  If you are going to pick on the elite and their privilege, pick on both sides.  Cheers!

[Spekulatius]

What is this thread about? Isn't almost everybody who posts here part of the elite? Or is the problem that we are part of the elite, but don't get to make the rules? What has the valuation multiple of MSFT has to do with all this?

 

I just don't get what this is about.

[Gregmal]

Well, if it wasn’t clear, the gist insinuates that there currently seems to be a coordinated effort to “knock people down”. Do they succeed? That could have some market implications.
 

The folks running the media and the establishment have managed to spin a healthy consumer and tremendous household prosperity plus the best jobs market we will likely ever see, into something that’s bad and must be stopped. Is it just a coincidence that this favors the wealthy and big corporations?

[DooDiligence]

45 minutes ago, Spekulatius said:

What is this thread about? Isn't almost everybody who posts here part of the elite? Or is the problem that we are part of the elite, but don't get to make the rules? What has the valuation multiple of MSFT has to do with all this?

 

I just don't get what this is about.

 

Looks like an ass backward attempt to stir shit.

Edited June 10, 2022 by DooDiligence

[adesigar]

I think I get what Gregmal is saying.

 

The current inflation is hurting the big companies and rich shareholders but is helping the average workers. A big part of the inflation is wage increases because of the extremely low unemployment and high no of job openings. This is good for middle class workers because companies have to pay more and the Fed Reserve is trying to destroy it by raising rates which will cause companies to fire people and increase unemployment to bring down inflation.

Edited June 10, 2022 by adesigar

[cubsfan]

Pretty clear there is a class war going on in the United States. It's not racial, although many, like

BLM losers would like to have you believe this.  It's the privileged elite class with 1 set of rules

and the working class with another set. Virtue signaling media & elites & politicians telling

everyone else what to do. Fostering racial division to keep power and influence.

 

Clear as day. Absolutely terrible for the American way of life.

 

Destroys the American dream.  Destroying faith in the American system. Our leaders are not

real leaders that care about the country. Certainly has drastic implications for the working class.

 

Seems to be contagious to Europe as well - but you guys would know better than me.

[Gregmal]

5 minutes ago, adesigar said:

I think I get what Gregmal is saying.

 

The current inflation is hurting the big companies and rich shareholders but is helping the average workers. A big part of the inflation is wage increases because of the extremely low unemployment and high no of job openings. This is good for middle class workers because companies have to pay more and the Fed Reserve is trying to destroy it by raising rates which will cause companies to fire people and increase unemployment to bring down inflation.

Bingo.

[Viking]

24 minutes ago, adesigar said:

I think I get what Gregmal is saying.

 

The current inflation is hurting the big companies and rich shareholders but is helping the average workers. A big part of the inflation is wage increases because of the extremely low unemployment and high no of job openings. This is good for middle class workers because companies have to pay more and the Fed Reserve is trying to destroy it by raising rates which will cause companies to fire people and increase unemployment to bring down inflation.

Inflation is good for ‘average workers’? Seriously? Inflation is a hidden tax. Taxing workers with a tax they can’t see is now good for workers? George Orwell (Animal Farm) couldn’t have written it any better. 

[Gregmal]

2 minutes ago, Viking said:

Inflation is good for ‘average workers’? Seriously? Inflation is a hidden tax. Taxing workers with a tax they can’t see is now good for workers? George Orwell (Animal Farm) couldn’t have written it any better. 

Only if you purposely ignore wage growth as beneficial to the worker.

[Gregmal]

I mean in another thread Viking you listed the home equity appreciation and what it equates to. That’s just one angle. Then there’s job market leverage at the workers hands. Now here you’re saying gas and grocery bills negates all that….seriously? I’ll take it ones home and primary income  are bigger components of value to than their discretionary grocery bills and gas costs..but hey, just say inflation, inflation, inflation. It’s the new bogeyman now that people stopped falling for COVID. 

[Gregmal]

This argument legit sounds like some of the old people at one of the HOAs I’m on the board of. 
 

OMG our dues when up $70 a month! This is ridiculous. 
 

Well, your home values increased $150k….. additionally you’re all getting new roofs. But hey, I’ll pay your $70 a month if you give me the home appreciation? Oh, no? didn’t think so.

[Spekulatius]

16 minutes ago, Gregmal said:

Only if you purposely ignore wage growth as beneficial to the worker.

Wage growth is tracking inflation by a mile. I don't see this benefiting anyone, least the middle class.

 

I checked the stats at FRED. Hourly earnings were $30 in Dec 2020, now $31.95 May 2022. That's 6.5% or annualized ~4.5%. Inflation is running north of 8%. So the average worker lost 3.5-4% of his purchasing power in the last  18 month. Ouch.

Edited June 10, 2022 by Spekulatius

[widenthemoat]

12 minutes ago, Gregmal said:

I mean in another thread Viking you listed the home equity appreciation and what it equates to. That’s just one angle. Then there’s job market leverage at the workers hands. Now here you’re saying gas and grocery bills negates all that….seriously? I’ll take it ones home and primary income  are bigger components of value to than their discretionary grocery bills and gas costs..but hey, just say inflation, inflation, inflation. It’s the new bogeyman now that people stopped falling for COVID. 

Market prices are coming down because of inflation. This is beneficial if you’re an investor and not a speculator. Why does this bother you so much?

[Gregmal]

4 minutes ago, Spekulatius said:

Wage growth is tracking inflation by a mile. I don't see this benefiting anyone, least the middle class.

 

I checked the stats at FRED. Hourly earnings were $30 in Dec 2020, now $31.95 May 2022. That's 6.5% or annualized ~4.5%. Inflation is running north of 8%. So the average worker lost 3.5-4% of his purchasing power in the last  18 month. Ouch.

The number of job openings indicates people are not bothered and they are comfortable. Gig economy is also a huge lever for people to make more money. I’d challenge anyone to find a job that’s only increased pay 6% since December 2020….it’s academic crap the same way the CPI last year said inflation was only 8%. It was probably closer to 20%.

[Gregmal]

3 minutes ago, widenthemoat said:

Market prices are coming down because of inflation. This is beneficial if you’re an investor and not a speculator. Why does this bother you so much?

I’m not bothered by it. I’m wealthy. It’s all good. It’s just a little fucked up the games that get played though and I’d never really understood or believed the whole “game is rigged” and the “average guy always gets fucked” stuff until the last couple years. 

[Gregmal]

I can live with getting a 7th home, hopefully in Florida or South Carolina when all the people looking for their first get cleared out of the market due to higher rates….what’s the point of that though? Who needs it more?