spin_dry Posted March 24, 2022 Share Posted March 24, 2022 Checking those 401k balances....... Even though they're still flush with cash from the booming market, wealthier people are increasingly worried about the economy, especially inflation. What's happening: In March, consumer confidence dropped 7.2% for those earning more than $100,000 — a much larger dip than for those earning less than $50,000, according to a measure of consumer sentiment released today as part of the Morning Consult/Axios Inequality Index. Why it matters: High earners still feel better about the economy on average, but have more to lose from declining financial markets. So the mix of volatile asset prices, Federal Reserve rate hikes and a surge in inflation is walloping their confidence. Between the lines: Financial assets have been particularly volatile since the start of the year. Wealthy people are more likely to be plugged into financial news and checking their 401k balances, said Jesse Wheeler, economic analyst at Morning Consult. They also tend to be older, and may remember living through inflation decades ago. "Young people don't know, and they'll soon find out." Of note: Wage growth has been highest among lower-paid workers, so many high-earning workers have seen their compensation falling when adjusted for inflation. Reality check: Rich folks might be more stressed, but lower-income Americans have much more to fear from rising prices. They tend to have less financial cushion to handle higher prices for food, gas, and other necessities. Axios on facebookAxios on twitterAxios on linkedinAxios on email Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Rigid1 Posted March 24, 2022 Platinum Contributing Member Share Posted March 24, 2022 3 Quote Link to comment Share on other sites More sharing options...
Anler Posted March 24, 2022 Share Posted March 24, 2022 There is going to be alot more: Homelessness Theft Violent crime Poverty Mental illness People going hungry Drug and alcohol abuse Thanks US Govt! Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Rigid1 Posted March 24, 2022 Platinum Contributing Member Share Posted March 24, 2022 Just now, Anler said: There is going to be alot more: Homelessness Theft Violent crime Poverty Mental illness People going hungry Drug and alcohol abuse Thanks US Govt! And forced dildo dipping! Quote Link to comment Share on other sites More sharing options...
Anler Posted March 24, 2022 Share Posted March 24, 2022 Just now, Rigid1 said: And forced dildo dipping! Damn! Quote Link to comment Share on other sites More sharing options...
spin_dry Posted March 24, 2022 Author Share Posted March 24, 2022 27 minutes ago, Rigid1 said: Retirement package? Quote Link to comment Share on other sites More sharing options...
spin_dry Posted March 24, 2022 Author Share Posted March 24, 2022 17 minutes ago, Anler said: There is going to be alot more: Homelessness Theft Violent crime Poverty Mental illness People going hungry Drug and alcohol abuse Thanks US Govt! no stopping it. Quote Link to comment Share on other sites More sharing options...
ford_428cj Posted March 24, 2022 Share Posted March 24, 2022 23 minutes ago, Anler said: There is going to be alot more: Homelessness Theft Violent crime Poverty Mental illness People going hungry Drug and alcohol abuse Thanks US Govt! We have a senile old man as chief engineer on a train headed for a cliff - and an idiot as the assistant engineer. Quote Link to comment Share on other sites More sharing options...
Guest Posted March 24, 2022 Share Posted March 24, 2022 Rich people don't suffer. Welfare people don't care, they get their shit no matter what. I think it's the lower middle-class who work hard, and pay their way, that suffer most. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted March 24, 2022 Platinum Contributing Member Share Posted March 24, 2022 7 hours ago, Polaris 550 said: Rich people don't suffer. Welfare people don't care, they get their shit no matter what. I think it's the lower middle-class who work hard, and pay their way, that suffer most. It is . and that's another reason why the gas rebate is a stupid idea. Quote Link to comment Share on other sites More sharing options...
Pete Posted March 24, 2022 Share Posted March 24, 2022 7 hours ago, ford_428cj said: We have a senile old man as chief engineer on a train headed for a cliff - and an idiot as the assistant engineer. Hey don’t forget about the 81 million (sure) passengers.. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted March 24, 2022 Platinum Contributing Member Share Posted March 24, 2022 8 minutes ago, Pete said: Hey don’t forget about the 81 million (sure) passengers.. Poor Derpo...you’re along for the ride as well!!!!!!😂😂😂😂😂😂😂 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted March 24, 2022 Platinum Contributing Member Share Posted March 24, 2022 8 hours ago, Anler said: There is going to be alot more: Homelessness Theft Violent crime Poverty Mental illness People going hungry Drug and alcohol abuse Thanks US Govt! Thing we're pretty solid until the pandemic then election. 1 Quote Link to comment Share on other sites More sharing options...
Anler Posted March 24, 2022 Share Posted March 24, 2022 16 minutes ago, Highmark said: Thing we're pretty solid until the pandemic then election. Runaway spending. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted March 24, 2022 Platinum Contributing Member Share Posted March 24, 2022 (edited) 8 minutes ago, Anler said: Runaway spending. Not denying spending was out of control but debt to gdp was livable until the plandemic. The plandemic increased spending dramatically while the economy was down then drove inflation crazy when we come out of it. More and more it looks intentional for a great reset. Without the 07-08 financial crisis and 2020 plandemic our debt to gdp would be quite good compared to most the rest of the world. Edited March 24, 2022 by Highmark Quote Link to comment Share on other sites More sharing options...
racer254 Posted March 24, 2022 Share Posted March 24, 2022 Let's go BRANDON!!!! Quote Link to comment Share on other sites More sharing options...
spin_dry Posted March 24, 2022 Author Share Posted March 24, 2022 (edited) 1 hour ago, Highmark said: Not denying spending was out of control but debt to gdp was livable until the plandemic. The plandemic increased spending dramatically while the economy was down then drove inflation crazy when we come out of it. More and more it looks intentional for a great reset. Without the 07-08 financial crisis and 2020 plandemic our debt to gdp would be quite good compared to most the rest of the world. Apples to oranges. Remove the petrodollar from the equation and the advantage of reserve currency, America may not be looking so good. The reptiles continue to sneak around trying to keep America's advantage at the expense of other. These are the same reptiles that the right calls the elite. Edited March 24, 2022 by spin_dry Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted March 24, 2022 Share Posted March 24, 2022 1 hour ago, Highmark said: Not denying spending was out of control but debt to gdp was livable until the plandemic. The plandemic increased spending dramatically while the economy was down then drove inflation crazy when we come out of it. More and more it looks intentional for a great reset. Without the 07-08 financial crisis and 2020 plandemic our debt to gdp would be quite good compared to most the rest of the world. This. People want to ignore how this so called pandemic came out of nowhere and at the most particular time, when all the power structure was fixated on one thing, getting rid of the guy shining a bright light on all the bullshit that happens in Washington. Like letting record numbers of illegals swarm across the border, while requiring citizens to get vacc'ed, stay home, and while destroying 1000s of small businesses. And yes, it does look intentional. 1 Quote Link to comment Share on other sites More sharing options...
racer254 Posted March 24, 2022 Share Posted March 24, 2022 7 minutes ago, DriftBusta said: This. People want to ignore how this so called pandemic came out of nowhere and at the most particular time, when all the power structure was fixated on one thing, getting rid of the guy shining a bright light on all the bullshit that happens in Washington. Like letting record numbers of illegals swarm across the border, while requiring citizens to get vacc'ed, stay home, and while destroying 1000s of small businesses. And yes, it does look intentional. Yep, it was just a coincidence on the timing of this. I think we all know the truth. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted March 24, 2022 Share Posted March 24, 2022 Many still run cover for Trump the worst president in history. Quote Link to comment Share on other sites More sharing options...
Edmo Posted March 24, 2022 Share Posted March 24, 2022 3 minutes ago, Mainecat said: Many still run cover for Trump the worst president in history. Quit living in the past and open your eyes. The real worst is in office now. It’s not even close dopey. 2 Quote Link to comment Share on other sites More sharing options...
1jkw Posted March 24, 2022 Share Posted March 24, 2022 2 hours ago, Highmark said: Thing we're pretty solid until the pandemic then election. Not really, a manufacturing recession, 2.3 GDP and the start of supply chain issues, auto part in particular. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 24, 2022 Share Posted March 24, 2022 2 hours ago, Highmark said: Not denying spending was out of control but debt to gdp was livable until the plandemic. The plandemic increased spending dramatically while the economy was down then drove inflation crazy when we come out of it. More and more it looks intentional for a great reset. Without the 07-08 financial crisis and 2020 plandemic our debt to gdp would be quite good compared to most the rest of the world. Almost like it was planned all along, but why? Quote Link to comment Share on other sites More sharing options...
Im4snow Posted March 24, 2022 Share Posted March 24, 2022 1 hour ago, spin_dry said: Apples to oranges. Remove the petrodollar from the equation and the advantage of reserve currency, America may not be looking so good. The reptiles continue to sneak around trying to keep America's advantage at the expense of other. These are the same reptiles that the right calls the elite. Careful what you wish for. For all the people that would like to see the US NOT dominate the globe economically and militarily, they'll be least able to handle the inevitable transition to a new world order. 1 Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted March 24, 2022 Share Posted March 24, 2022 11 hours ago, Anler said: There is going to be alot more: Homelessness Theft Violent crime Poverty Mental illness People going hungry Drug and alcohol abuse Thanks US Govt! You do large comercial right? What is your schedule looking like compared to yrs past ? In MN most of my buds who deal mostly in larger comercial projects are still busy but not booked out like yrs past . Every single family remodeling guy I know is booked till at least Sept if not the year . Quote Link to comment Share on other sites More sharing options...
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