Community Chat

[gertrudecloset]

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@JamandBread wrote:

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@gertrudecloset wrote:

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@hckynutjohn wrote:

@JamandBread 

Uh Huh! And bears don't poo in the woods!

hckynut  🇺🇸

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And Covid was a figment of our imagination huh @hckynutjohn ?  That's what caused the over pricing.  Supplies were limited, thus the price increases.  Thing is, nobody told the greedy corporations that the supply chain is getting a little bit better.

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Supplies were limited because the people who make the supplies got sick and died. 6.4 million have died worldwide with US accounting for over a million deaths.

It doesn't take a rocket scientist to figure out how that could impact the entire global economy.

Of course it helps to understand a little math and to be able to calculate percentages, which is a skill some have admitted they don't posses and evidently are not willing to learn at this late stage of life.

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Indeed, yes indeed!  I didn't forget how I could find simple cleaning supplies.

[gertrudecloset]

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@sometimesQVCaddict wrote:
Must be nice to even get SS! My generation & probably those after me might not even get it! I should be the one complaining, and I guess I am! And pensions don't exist for many in the workplace now not close to retirement age. Thats a long gone thing for current jobs. So complaining about anything related to SS falls on deaf ears to me personally as I'd be happy with 5 dollars a month from the government when I retire, and probably will get nothing.

Wanna talk about a "fixed income" when that number is zero??? That's what future generations have to look forward to. I foresee retirement for anyone being a pipe dream unfortunately for future generations.

Be happy you're getting anything! Maybe some perspective helps.

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I hope that won't be true for you.  I hope that they will find a way to fund Social Security for everyone who pays into it.  It is my understanding that what recipients are receiving right now is funded from those who pay into it at this time.  This country can ensure old age benefits if it puts its mind to it to ensure everyone who played by the rules, who worked and paid their taxes can have something to fall back on when it's time for them to retire.

[gertrudecloset]

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@vsm wrote:

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@JamandBread wrote:

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@vsm wrote:

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@LuvSoCal wrote:

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@vsm wrote:

More spending means more inflation.  That's not politics -- it's economics 101.

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But @vsm I think many of the recipients will be spending their COLAs on necessities and not frivolous purchases.

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Unfortunately, the purpose of the spending doesn't matter to the inflationary spiral. Spending is spending, and it juices up inflation to the point that only a recession will reduce it.  Recession will in turn make necessities even harder to come by.

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Actually, the increase is not intended to provide MORE buying power. It is intended to keep pace with current prices. With that said, spending will not increase, so no inflationary impact. The covid stimulus checks to everyone is an example of EXTRA money which has an inflationary impact.

Inflation is world wide and has been ratcheted up by the pandemic and supply chain disruptions. It will take all the countries who drive the global economy to solve the price hikes caused by the pandemic. 

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Would that this were so, but it's not.  Again, more spending by the government so that the people suffering from its inflationary policies  can "keep pace" with inflation is itself inflationary.  The reason for the additional spending is irrelevant.  Spending stimulates demand, regardless of its purpose -- and that remains the case even though other governments are doing the same thing in a vain attempt to blunt the impact of having spent money they didn't have but simply printed.

One way or the other, the piper will be paid. If we don't pay the bill, our grandchildren and their children will have to, and it will be an even bigger one, as interest rates rise to compensate for the declining value of the dollar.  

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You're wrong here.  That might be true in terms of the general premise but it's certainly not true in this case @vsm .  Only a small portion of US citizens receive these benefits.  The entire economy doesn't contract and retract based on what social security recipients receive.  

A country with an estimated population of 330MM with only 10% of its population receiving retirement benefits via Social Security is nothing compared to the spending the government sends to other countries.

[Lucky Charm]

The Social Security Administration has a History page that is full of facts and myths.  Just Google SSA History or Facts and Myths.

[ThinkingOutLoud]

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@gertrudecloset wrote:

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@sometimesQVCaddict wrote:
Must be nice to even get SS! My generation & probably those after me might not even get it! I should be the one complaining, and I guess I am! And pensions don't exist for many in the workplace now not close to retirement age. Thats a long gone thing for current jobs. So complaining about anything related to SS falls on deaf ears to me personally as I'd be happy with 5 dollars a month from the government when I retire, and probably will get nothing.

Wanna talk about a "fixed income" when that number is zero??? That's what future generations have to look forward to. I foresee retirement for anyone being a pipe dream unfortunately for future generations.

Be happy you're getting anything! Maybe some perspective helps.

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I hope that won't be true for you.  I hope that they will find a way to fund Social Security for everyone who pays into it.  It is my understanding that what recipients are receiving right now is funded from those who pay into it at this time.  This country can ensure old age benefits if it puts its mind to it to ensure everyone who played by the rules, who worked and paid their taxes can have something to fall back on when it's time for them to retire.

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Possible/probable issues:

#1 - There are fewer kids being born which means fewer people will be paying into the fund later.

#2 - The economy is going to crash and the dollar will be worthless. 

#3 - When China calls in the US debt, I highly doubt they'll care much about making sure everyone gets what they are owed.

[hckynutjohn]

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@gertrudecloset wrote:

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@hckynutjohn wrote:

@JamandBread 

Uh Huh! And bears don't poo in the woods!

hckynut  🇺🇸

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And Covid was a figment of our imagination huh @hckynutjohn ?  That's what caused the over pricing.  Supplies were limited, thus the price increases.  Thing is, nobody told the greedy corporations that the supply chain is getting a little bit better.

@gertrudecloset 

Not taking the bait! Prefer this thread staying active.

hckynut  🇺🇸

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[gertrudecloset]

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@ThinkingOutLoud wrote:

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@gertrudecloset wrote:

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@sometimesQVCaddict wrote:
Must be nice to even get SS! My generation & probably those after me might not even get it! I should be the one complaining, and I guess I am! And pensions don't exist for many in the workplace now not close to retirement age. Thats a long gone thing for current jobs. So complaining about anything related to SS falls on deaf ears to me personally as I'd be happy with 5 dollars a month from the government when I retire, and probably will get nothing.

Wanna talk about a "fixed income" when that number is zero??? That's what future generations have to look forward to. I foresee retirement for anyone being a pipe dream unfortunately for future generations.

Be happy you're getting anything! Maybe some perspective helps.

---

I hope that won't be true for you.  I hope that they will find a way to fund Social Security for everyone who pays into it.  It is my understanding that what recipients are receiving right now is funded from those who pay into it at this time.  This country can ensure old age benefits if it puts its mind to it to ensure everyone who played by the rules, who worked and paid their taxes can have something to fall back on when it's time for them to retire.

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Possible/probable issues:

#1 - There are fewer kids being born which means fewer people will be paying into the fund later.

#2 - The economy is going to crash and the dollar will be worthless. 

#3 - When China calls in the US debt, I highly doubt they'll care much about making sure everyone gets what they are owed.

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Yes very possible issues with less people in the workforce.

Dollar crashing (possible) but it can rebound

Not gonna go political about US debt....just say we need to keep some of our $$ to ourselves

[gertrudecloset]

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@hckynutjohn wrote:

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@gertrudecloset wrote:

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@hckynutjohn wrote:

@JamandBread 

Uh Huh! And bears don't poo in the woods!

hckynut  🇺🇸

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And Covid was a figment of our imagination huh @hckynutjohn ?  That's what caused the over pricing.  Supplies were limited, thus the price increases.  Thing is, nobody told the greedy corporations that the supply chain is getting a little bit better.

@gertrudecloset 

Not taking the bait! Prefer this thread staying active.

hckynut  🇺🇸

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Whatever.  I don't do "bait."  I asked a question.  You can't answer it so.  You have never seen me bait anyone on these forums.  That's a game I don't play.  Though it's played on me all the time.  I want it to stay up too, that's why I have not discussed anything political @hckynutjohn 

[deepwaterdotter]

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@Tinkrbl44 wrote:

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@Lucky Charm wrote:

Rumors back in the mid 70s when I started working that there would be no Social Security for me (my generation) when I retired.

I think it was because of the money we spent on wars was the reason back then.  

Well, it's still around 50 years later and we're still spending money on wars as I type.....

Neither of us are collecting at this point though.

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@Lucky Charm   @sometimesQVCaddict 

As you say, those were rumors. 

While there have been instances where some legislative body "borrowed" from some other fund, they had to pay it back, with interest.  It happened.

I can't even imagine legislative people would be stupid enough to reduce something that taxpayers paid into themselves,  for their retirements.   

Talk about putting a bulls eye on one's back!  All hell-o would break loose!   Yikes!  

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That was my thought also.  It could sink a re-election effort to incur the wrath of so many voting seniors. 

[JamandBread]

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@vsm wrote:

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@JamandBread wrote:

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@vsm wrote:

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@LuvSoCal wrote:

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@vsm wrote:

More spending means more inflation.  That's not politics -- it's economics 101.

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But @vsm I think many of the recipients will be spending their COLAs on necessities and not frivolous purchases.

---

Unfortunately, the purpose of the spending doesn't matter to the inflationary spiral. Spending is spending, and it juices up inflation to the point that only a recession will reduce it.  Recession will in turn make necessities even harder to come by.

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Actually, the increase is not intended to provide MORE buying power. It is intended to keep pace with current prices. With that said, spending will not increase, so no inflationary impact. The covid stimulus checks to everyone is an example of EXTRA money which has an inflationary impact.

Inflation is world wide and has been ratcheted up by the pandemic and supply chain disruptions. It will take all the countries who drive the global economy to solve the price hikes caused by the pandemic. 

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Would that this were so, but it's not.  Again, more spending by the government so that the people suffering from its inflationary policies  can "keep pace" with inflation is itself inflationary.  The reason for the additional spending is irrelevant.  Spending stimulates demand, regardless of its purpose -- and that remains the case even though other governments are doing the same thing in a vain attempt to blunt the impact of having spent money they didn't have but simply printed.

One way or the other, the piper will be paid. If we don't pay the bill, our grandchildren and their children will have to, and it will be an even bigger one, as interest rates rise to compensate for the declining value of the dollar.  

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Nope. If my grocery bill cost $50 last year and this year the same items costs $57, giving me the extra $7 is not putting additional money into the system. I have not employed one more person in the chain that gets those groceries to me. However, if my grocery bill stays at $50 and you give me $7 and I spend it on shrimp, I've added that $7 to the economy and contributed to the employ of the people who bring us shrimp, plus I've maintained my support of the grocery people too. Its quite simple as is the supply and demand effect on the economy.