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The Race For 2024
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bilby
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Jimmy Higgins
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And if not for an extraordinary global government effort, 2008 would have been likewise. Effectively 2008 wasn't 1929 (well, probably should have been worse) because of that effort.
Elixir
Made in America
er...
"share prices on the New York Stock Exchange (NYSE) collapsed"
NYSE survived just fine. In fact it's still thriving today. $100 invested in pre-crash 1928 would be worth over $1m today, or over $56k in 1928 dollars, beating inflation by an average of about 6.75% annually.
After 1928, 25 years would have been "long enough", but that's given the worst ever depression and a World War.
At any given time there's no telling how long long enough will be, but if you're younger than I am you'll probably live to see it.
bilby
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So, you are saying that it's a gamble with good odds, so it's not a gamble?
25 years is a long time for a retired person to wait for their pension to stop being worthless.
You will win Gold Lotto, if you keep playing the same numbers for long enough. The mean time required is about 43 million years.
Elixir
Made in America
Life's a gamble. Only the presumption that it will continue can mitigate the risk of that gamble in theory.
Buying and then selling stocks over a limited time is a gamble. NYSE is just an exchange. It enables people to do that, and so far they never get sick of it. Hence it thrives over time. Even buying an index fund is a gamble over a time limit. To make it not a gamble you have to have the option of holding it indefinitely. And you can't do that.
Life's a gamble, so you're right. It's a good gamble as life things go.
Harry Bosch
Contributor
I don’t think so. I’m not a dick Cheney fan. But he cares about his country and democracy. Quite honestly, I’m stunned that so many conservatives support trump.
Elixir
Made in America
Yup. People who died pre-war or in WWII "lost" the money they had invested in equities. But then, I think the rules are, you die, you lose your money.
Hopefully some of their heirs were too distracted to sell immediately, and they ended up making a few bucks for dear old dad ten+ years later.
He cares about the way it was. The good old boy network got taken over by bad guys. He is, like his daughter, a little pissed about that.
/uncharitable
It will be interesting to see how people like him behave (politically) when Trump croaks.
Ford
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It is worth remembering that Dick earned his "bones" along with Don Rumsfeld and others in the aftermath of the Nixon administration. One of the OG "neoconservatives" and a person who helped the Republican Party rebuild, invade Iraq, then do it all over again - with a side of torture - in the second Bush administration. In the meantime he helped build Halliburton into the model of a military/industrial contractor that got fat off the taxpayer, and both he and his daughter became obscenely wealthy as a result. War profiteer is an apt label. People have compared him to Darth Vader, but he's really closer to Palpatine...endless machinations in order to gain power. Very smart, and very, very evil.
And he said that Trump is more dangerous than he is. That's a helluva thing.
Oh, and about conservatives that support Trump, I saw an interesting fact a short time ago. Out of all the conservatives that have landed on the GOP presidential ticket over the last 20 plus years, the only one that has said they're voting for Trump is Sarah Palin.
Bush 43? Hasn't said who he's voting for, but it's not hard to figure out. Cheney? Hard no. McCain is gone, but his family has been abundantly clear that he wouldn't. Mitt Romney is a "no." So is Paul Ryan. Mike Pence has said he will not vote for Trump.
bilby
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I am more worried for those who suffered the opposite fate.
Suddenly starving and homeless at 80 is a bad situation to be in, even if you are precient enough to know that your retirement nest-egg will return to its pre-crash value by your 105th birthday.
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Elixir
Made in America
That's why no legitimate financial advisor tells an octogenarian to put all their nest eggs in an equities basket.
Even a spring chicken like me can't risk a whole lot, but can risk some. This year i bought some Oklo just because I liked their mission, and read something about them. It's worth half what I paid for it. Oh, and some INTEL because I used to like that company and they looked down. Not down enough, apparently. But I also bought some GE, because I was listening to NPR in the car and they reported that the Space Force had granted GE a multibillion - I think it was 3 billion dollar contract. So I spent a bit more on that. It has basically quadrupled in months, plus it spun off "GE Vernova" and "GE Health" and I got shares of those. Not chump change, but not what someone like me can take as an income rather than as gambling proceeds. I don't expect to be that lucky again any time soon. Basically I can't any longer risk more than I can outright lose, because I lack the means to replace it. Any year I get through without losing personal net $ value is a huge $ win for me. Thanks to GE this might be one of those years.
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Politesse
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Neoliberals are never far from each others' pocket books.
hurtinbuckaroo
Contributor
Putting a large % of your money into Bellagio stock is still a gamble. Putting it into a broad index fund is not. The Bellagio could fall because of a single event that would have no effect on any other business, e.g. losing their gambling license. It would take something on the order of a nuclear war for the entire stock market to fail, and at that point, who cares?
hurtinbuckaroo
Contributor
If only Dick Cheney’s opinion moved the needle.
Elixir
Made in America
I think bilby’s point is that people can and do lose money buying and selling issues that are listed on NYSE.
But it’s not the exchange that loses that money.
Copernicus
Industrial Grade Linguist
The Never-Trumper faction of the old GOP is something of a wild card in the upcoming election. Will it be a significant factor in states with close elections? The Cheneys might have some impact in that sense, but they also help to boost morale among Democrats and Democratic candidates in red states.
unapologetic
50+ years without a god
My thoughts on 'lawfare':
'Lawfare' was used against Capone. He was convicted of a 'trumped-up' charge of tax evasion. (an apt term 'trumped-up')
But he deserved worse.
I, for one, think Runp has earned time in the 'Big House' not the White House. And I, for one, dont care how he gets there (jail).
Trumpettes don't seem to care how he gets into the White House. So don't bitch if 'lawfare' seems unfair.
PS
Does anyone know the source of the term 'trumped-up'? Wikipedia didn't have it.
'Lawfare' was used against Capone. He was convicted of a 'trumped-up' charge of tax evasion. (an apt term 'trumped-up')
But he deserved worse.
I, for one, think Runp has earned time in the 'Big House' not the White House. And I, for one, dont care how he gets there (jail).
Trumpettes don't seem to care how he gets into the White House. So don't bitch if 'lawfare' seems unfair.
PS
Does anyone know the source of the term 'trumped-up'? Wikipedia didn't have it.
unapologetic
50+ years without a god
I want to know: Is anyone here still undecided? I think not.
Is anyone here likely to change their mind? I think not.
I would like to see a poll of IIDB US voters. I hope we're mostly anti-Rump.
PS: Everything Rump says is "Trumped-Up".
Is anyone here likely to change their mind? I think not.
I would like to see a poll of IIDB US voters. I hope we're mostly anti-Rump.
PS: Everything Rump says is "Trumped-Up".