Bernie Sanders Issues Dire Warning About State Of U.S.

  • Thread starter Thread starter acceptance
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Floyd Eye said:
There was a welder where I work. He retired about 5 or 6 years ago. Started at the company when he was about 19. Walked out the door with 3 million dollars in pension and 401k.
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That seems like a lot, even while welders are a skilled trade. Did he own the business? Or do you mean he had something like a 500k 401K and pension that amounts to something like interest on $2.5M a year?
 
NowYou'rePlayingWithPower said:
Read the whole sentence you replied to, I guess 🤷‍♀️
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So you traded the market?
NowYou'rePlayingWithPower said:
trying to convince likely majority capitalists on a guitar forum to play along with socialism = good
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You must have misunderstood me, I never said that. I doubt any of you are ideologically as capitalist as me. But ideology is not the real world and we don't live in a capitalist country — that's largely my point.
 
If I had a million bucks I would be quite wary of starting or buying a business that could get squeezed by taxation, regulation, government backed monopolies or random COVID restrictions, among other things. If I was "connected", then sure. That's also my point.
 
...And why spend that money to attend a prestigious university to pursue a professional career, only to be eventually told I had to take a shot, support woke DEI or get fired?
 
acceptance said:
That seems like a lot, even while welders are a skilled trade. Did he own the business? Or do you mean he had something like a 500k 401K and pension that amounts to something like interest on $2.5M a year?
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No he didn’t own the company. And he was in his mid 50s. Most guys there, especially the old timers, retire in their 50s. I got a late start, but my wife is a CPA/ financial advisor. I’d tell you what my average ROI in my retirement portfolio is but, nah. It’s fuckin good though. 🤣🤣

Good pension. Take the lump sum. ALWAYS take the lump sum Good 401k match. Smart investing.
 
acceptance said:
You must have misunderstood me, I never said that. I doubt any of you are ideologically as capitalist as me. But ideology is not the real world and we don't live in a capitalist country — that's largely my point.
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Uh huh...

acceptance said:
Soocialism is more honest and better for more people then the crony capitalist, centrally planned state we have now. What some of you are missing is that we don't live under a free market system. The billionaire class didn't get there because they are that much smarter or worked that much harder than anyone else. They achieved and maintain that position in symbiosis with the technocratic regulatory state. Elon Musk for example is a CIA/defense government contractor and Tesla wouldn't exist without government subsidies.
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Floyd Eye said:
Investing in the market is by definition buying a business.
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Yes, but buying publicly traded companies is very different than owning a privately held small business. The share price and returns are subject to different forces, the management has different incentive structures and overall I would say it's more risky than owning a business the likes of which you probably work at.
 
I think you also confuse government subsidies with selling an important service to the government.

Subsidies is what Solyndra got from Ovomit. There’s a difference between Space x and Solyndra.
 
acceptance said:
Yes, but buying publicly traded companies is very different than owning a privately held small business. The share price and returns are subject to different forces, the management has different incentive structures and overall I would say it's more risky than owning a business the likes of which you probably work at.
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The one I work at is not a small business. Not only is it a publicly traded company, it was one of the original 8 or so companies on the NYSE. The one I owned prior to my current employment was a small business. And you are correct. If you fuck up and pick the wrong small business to start it is very difficult to overcome government regulations and insurance mandates to become wealthy.


Edit*. It was 12 companies and they were included in the NASDAQ.
 
Floyd Eye said:
I think you also confuse government subsidies with selling an important service to the government.

Subsidies is what Solyndra got from Ovomit. There’s a difference between Space x and Solyndra.
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Tesla is subsidized, not sure about Space X. But while it's true that selling a service is different than receiving subsidies, it's still not "Natural" in the sense that the government spends your money, for their reasons. When Space X becomes viable selling rocket trips in the free market to the general public, then it's a capitalist enterprise. In the meantime, Elon is getting hella rich, by your money.
 
acceptance said:
Tesla is subsidized, not sure about Space X. But while it's true that selling a service is different than receiving subsidies, it's still not "Natural" in the sense that the government spends your money, for their reasons. When Space X becomes viable selling rocket trips in the free market to the general public, then it's a capitalist enterprise. In the meantime, Elon is getting hella rich.
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That’s the rules huh ? 🤣🤣
 
Floyd Eye said:
That’s the rules huh ? 🤣🤣
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It's crony capitalism, not Laissez-Faire capitalism. Any idiot can see how it's a breeding ground for greed and corruption, at the expense of everyone else thinking they can join in at whim if they just work hard enough and save enough.
 
Floyd Eye said:
That’s the rules huh ? 🤣🤣
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Well watching a guy like Musk pretend like he's some uber sharp businessman when all he's sold is a few junk cars is kinda amusing. Without the government cash grab he would not be making the same kinda money. It's all graft.
 
Tesla isn’t really subsidized. Not like Solyndra was. They took a low interest government loan in 2010 and what critics are calling subsidies currently is the carbon tax credits given to all “ green energy” companies, which Tesla sold to other companies.
 
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