Lord have mercy. Talk about cherry picking. It's a nowcast model that is highly volatile early in the quarter. It will nosedive the remainder of Q3. Still though, if it comes in above 2.5% that's not nothing.
I want out in 8.5 years (I'm 51 now) and Vanguard already this week downgraded their market growth expectations (again) to 5.2% YoY for the next decade. Which is pretty much a non lube situation for me.
When I retired I set up a primitive little spreadsheet that projected out how much my holdings would be year over year at 5%. That was going on six years ago, and my current holdings exceed my projection by a substantial amount -- I'm sitting on what I projected would take 10 years. We haven't touched any of it yet, and as long as I can still tote rotors we shouldn't have to (at least until I hit the RMD next year).
@larsiu I also think these Trump cheerleaders are going to fall prey to the same thing Biden fell prey to, namely that these top-level economic indicators don't capture how voters actually feel, because they don't take into account the widening disparity gap. Extra jobs are great, until you realize you're only hiring one person for every two of them, because they have to work two jobs to pay the mortgage. Consumer spending is great until you realize that it's driven more and more by the subset that can afford Amazon delivery, while regular folks can't afford to go to Walmart. Poor people and rich people all get the same vote, and most importantly for this issue, so do the middle class folks who are feeling poorer and poorer by the day.
@larsiu I also think these Trump cheerleaders are going to fall prey to the same thing Biden fell prey to, namely that these top-level economic indicators don't capture how voters actually feel, because they don't take into account the widening disparity gap. Extra jobs are great, until you realize you're only hiring one person for every two of them, because they have to work two jobs to pay the mortgage. Consumer spending is great until you realize that it's driven more and more by the subset that can afford Amazon delivery, while regular folks can't afford to go to Walmart. Poor people and rich people all get the same vote, and most importantly for this issue, so do the middle class folks who are feeling poorer and poorer by the day.
I don’t disagree. I do think a lot of struggling Americans are struggling because they are stupid with money. They don’t cook their own meals. They think they deserve $10 Starbucks.
I just came from a memorial service for a friend of my wife. 90% African immigrants and their kids. They didn’t get food stamps. No section 8. They worked shit jobs at the airport. Went to community colleges. Leaned on each other. Shit Americans are just too good for anymore.
