If you think the private sector is any less evil than the government at this point after everything we've seen historically, I don't know what to tell you. Just hope you are rich enough that you won't have to worry about SS. No matter what you do, people find a way to screw over other people for $. The government is horrible at what they do most of the time, but things like this require lots of regulation and lots of oversight and frankly, lots of self control. The only reason they want to privatize it is because it's more difficult to profit from it when it's under government control.

You seem so concerned about printing money, but I am sure you don't back away from taking it. This is my point from earlier. People don't care about printing money, they only care about how it impacts them. If they can't take advantage of it, then it's bad, otherwise, they don't say anything. The general populous doesn't know anything about how it works. They just parrot whatever someone else is saying. Few truly understand what it means and who the US actually owes.

and to clarify this is mostly just IMO. Maybe I'm misunderstanding what you are stating.

that was my exactly point

Anyway, I like these kind of discussions, but I don't think the mods do lol.

In the wake of everything, where are people putting their money currently, anything new stocks, safety, cash, things other than stocks?

https://oilprice.com/Energy/Energy-General/IEA-Global-Oil-Demand-Will-Outstrip-Supply-In-Late-2023.html

https://seekingalpha.com/news/3947816-apple-likely-to-be-the-safest-tech-stock-over-the-next-6-months-gene-munster

This ^^^^^

bonds, short term t-bills, high dividend payers, high rate 4%+ savings accounts

Based off of the reception of it's most recent offering and prevailing market trends I am seriously considering shorting JJP stock.

Gold is up the most I've ever seen in one day - not actively buying unless it drops under $1700/oz

You’ve given no solution, just as I thought.

I don't need to give a solution to know that the proposed solution is a failure before they even con anyone into agreeing with it. Gee let's see, let's put a mandated tax into the hands of profiteers. What could go wrong?

If SS was privatized you would get your money back with earnings, just sayin’.

Keep telling yourself that.

How do you know it’s a failure? Do you have a 401k?

Seriously? Explain to me how you wouldn’t?

How do you know it would be a success? Explain to me how it can't fail? All the people's 401k's tanked that retired at the wrong time would like to know as well.

We know what's behind the want that they've been pushing for decades, and it isn't because 'they want to save it'.

I'll give a serious answer though.

401k is voluntary. I do not think it is the best scenario for saving for retirement, but it's what we have. The key on this area though is, you get matches, you get choice (sort of), but also you get charged. Not all 401k's are equal and you don't exactly get a choice in the matter when it comes to normal 401k's. You get what you get. BUT you can opt to not take it.

SS is not voluntary. We've paid into it our entire lives. I do not feel that handing that over to a corporation that's primary purpose is and will be to make a profit is in 'our' best interests. Why? Because we don't have the option to not pay it, how it is invested, how it is used, or how much they profit off of it. And humans in general have this really bad habit of when they see a giant pool of money just sitting there growing, not wanting to keep their hands off of it when it isn't theirs to touch. I don't need to give examples, you can google. Companies make bad choices (I mean we got 2 pages of a current bunch of bad decisions). I know personally from pension plans that they can't keep their hands off it.

A lot would have to change about how it is funded and used before I would change my mind. And if it comes to that, I may as well not be paying it to begin with. I really don't trust anyone else with my money other than me, and it's served me pretty well over the years.

I would also like to point out that they've been throwing the FUD out about SS for as far back as I can remember. As I stated earlier, I don't think they've done a great job, but it's more about them not keeping their hands off it. This should be easy to fix. Stop taking from it. That IS a solution. Keep the hell out of it. Maybe even put back what you took. I doubt that happens though. Instead of that, let's pass it off to someone else

EDIT:I will eat some crow on this major detail: Everything I can find states that SS has never been used for anything other than federal expenditures related to it.

Your analysis of humans applies to government as well, that’s one reason SS is in trouble. Give me one example of someone who has contributed 20 years to a 401k that doesn’t have earnings. I’m also not the one saying something will succeed or fail without providing any actual evidence that it will.

They can stop taking from it all you want but it’s a fact that there is less going in now than is being taken out strictly for benefits.

but going private isn't going to change that necessarily. You are basically saying you are willing to gamble that they won't invest it worse than the government.

We can agree to disagree. I don't have 'a' solution, but I don't need to be a financial advisor to know that giving it to private companies is a bad idea. More transparency is needed

I will also say I don't think there is some grand plan that is going to save it. They haven't thought further than privatize it. That's how they work these days. I can't help but think that for SS to make the money it needs to would require putting it in riskier ventures. Just think how bad it would be now if they'd bought BTC at 40-60k.

My stocks went up today. Weird

I bought some more XLE today.

BOA buy or sell?

Everything will be cheaper soon...even mega tech, which I'm into big. This is no time to be buying anything.

Tech stocks had a fantastic week. Headlines don't tell you what's really going on.

Gold is going higher IMO. You can still get in on the trade.

Great buying opportunity. I was adding to positions this week. Yields are juicy too.

Im still loading up in the materials sector in anticipation of improving economy in EV and the clean energy push.

I understand oil and coal have many years to go these sectors don't inspire me, even though they are making good in the market.

My big plays are

Lithium
Nickel
Copper
Cobalt
Graphite

I am heavy into
CXO
NVX
JRV
SFR

55 now, hoping to be set by 60

Markets have essentially been pinned to 4000 for the past 10 months. We’ve really gone nowhere. Just been selling 0dte premium the entire time. The narrative can’t get anymore bearish though. Bank vibes are super sketchy but I’ve been selling puts on BofA and WFC as well as FRC and CS. The last two, high risk/high reward. No idea what is going on with FRC looking to sell and needing to raise capital after getting 30 billion injection from the big banks pooling together. Looks really dire and shorts are piling in.

Scratch CS off the list.

Still only $5.99 here where everything is usually higher than my old Canton stomping ground. The Little Caesars on Ford & Lilley was my default location when I lived there...

Screenshot_20230319_173045_Little Caesars (resized).jpg

I disagree, I think corporations and the rich rarely face the consequences of their actions. Sure, we normal folks do, especially if we are not white and poor, but rich people and corporations are rarely held accountable for their actions.

Good, I'm in on both Apple and Oil.

Huh? Private companies go out of business every day, the govt is a monopoly and has zero consequences for piss poor management.

Hey! The one at Warren and Canton Ctr. is the one I usually go to. The same owner owns that one, the one in Plymouth Township at Ann Arbor Rd. and Sheldon as well as the one in Livonia at Ann Arbor Rd. and Hix. They are all $6.49 now. The one at Ford and Lilly (different owner) is also at $6.49.

Kinda the point. Lots of companies who mismanaged had zero consequences for those who were responsible. Firing the staff and getting bought out isn't a consequence when those responsible walk away with millions. Oh, and my favorite part. Well we aren't going to honor the previous contracts because 'new company'.

Completely agree about the govt. Let's fix it.

Little Caesars Hot and Ready is $7.99 in Canada now ($5.99 USD), was $5.99 a year and a half ago. It's not good pizza though - LOL.

Always happy to pay $10-12 and get something WAY better.

And you know this how?

Haven't seen all green in I don't know how long. Problem is there is a long way to go....
green (resized).jpg

FFS man, either present evidence to the contrary or pass on by the comment. You aren't proving or disproving anything with comments like this. Some of this stuff I've seen first hand. Also, it's called history. Maybe you live in your own little bubble..I'm not sure. It's not like I'm saying all companies are bad and nothing at all happens to those that are. I will say that a slap on the wrist of some millions to companies taking billions doesn't really deter them.

401k’s were originally designed to be an “additional” way to save if desired, alongside a pension. But they have long since become the primary option workers use to sock away funds.

But are they? Depends upon how much money they make. The higher the income, the higher the participation rate. Supposedly only 25% of earners at $40,000 and less have a 401k… and barely half of all Americans have any stock whatsoever.

“Hey America! Now you can be your own financial advisor!”

Hasn’t worked out so well. Remember that recent estimate how 60% of Americans couldn’t miracle up $400 for a serious emergency…? Not good.

But hey! Why not double down and let Americans manage their own Social Security earnings too! Could make more! Could go broke! Who knows? Weeee!

George Carlin was right: They’re coming for your Social Security next… and they’ll get it.

No argument there. We’re just talking about how much the cheapest pizza around has gone up in price as one tiny microcosm of inflationary pressure.

Agree that there is compelling evidence why allowing individuals to manage their SS is a terrible idea…. Maybe there is a safer compromise?

401K seemed like a good idea when sold to the American worker but wound up killing defined pension plans that companies had offered for decades prior.

At the end of the day it relieved employers of a burden and also greatly benefitted Wallstreet - I’m sure that is just a coincidence…

I'm still waiting for responses to why some people believe that privatizing SS is a guaranteed payday. Clearly they have the answers we are missing here.

1. Privitize
2. ???
3. Profit!

Reaganomics largely shifted the bulk of productivity gains and profits from the workers to the owners of capital… and ever since, wages have been flat while stockholders have rocketed away into the stratosphere (sometimes literally) with nearly all of the treasure.

I participated in IRA’s, stock buys, and 401k’s somewhat aggressively and was able to capture some of those gains… but I was a high earner with low debt and no kids. As for the average worker? Half don’t have any stock nor an emergency fund and work just as hard, if not harder. Doesn’t seem right to me to expect them to be their own financial advisor and shoulder all of the risk, possibly losing everything they’ve worked for.

I’m for policies which shrink the size of the upper and lower class while growing the middle. The size and health of a nation’s middle class is the benchmark of its survival.

Too few at the top and too many at the bottom? History has repeatedly shown us how arrangements like that come to a screeching, fiery halt.

You are the one that makes genialized "all in" statements (i.e. opinions).

By your logic - anyone can make an opinion and pass it off as a fact and just say "...I've seen first hand".

How old are you?

Tell that sad story to those who lost their re-elections.

I've been pretty clear that generalized opinions is a big part of it, and that in no way is it 'all in'. If your only rebuttal is 'well it's not everyone' that isn't a rebuttal, because I made no such claim. I have indeed seen a few things first hand. I am not young, and I've been around. You don't get to really dislike corporate America without having seen some stuff. Do not take what I'm saying as I'm defending the government either. This discussion started because people were stating that SS needed to be privatized, and no one made any compelling reasons why other than 'government sucks'. My position is simply what makes them think a company trying to profit is going to be any better? As for backing anything up, as I stated in the other thread, there's no point these days. It doesn't matter what anyone posts, the majority ignore or dismiss anything that doesn't fit what they want. (see example in other thread). I state my opinion, and if you care enough to look into it, that's awesome. I do look into the things I say, and what others say and while I may or may not look into certain statements before I post, I will admit if I find out I stated something incorrectly.

Let's get back on topic....Mike Wilson, says this the beginning of the end of the Bear Market....he says the 2nd half will be vicious.

https://www.bloomberg.com/news/articles/2023-03-20/morgan-stanley-s-wilson-says-bank-stress-signals-bear-market-end

I can't read that beyond a few lines, but how does that work if they are saying the 2nd half of 2023 is flat or down and earnings will suck. Are people just being stubborn and using the 'it will eventually go up' mentality?

2nd half of 2023 booms - "See we told you so"
2nd half of 2023 sucks - "We were a little early on the call"

It's very possible - markets have held in very well. Did not see new lows many people predicted.

Technically - we still look poised to go higher from here eventually. May need to base a little longer until we get the signal from the fed that it's done.

Your social security contributions have already been paid out to others. Government sponsored Ponzi scheme.