Pent Up Demand and The Upcoming Roaring '20s

[Dondilion]

Since $3 trillion is the plan, one can reasonably expect that it will evolve to say a $9 trillion reality. This implies more printing of fiat.


There is a big difference in the dollar's reach and spread from government spending in comparing the new deal era to now. For instance, road building once carried a crowd; not anymore.

Another significant difference re new deal era versus now: The new deal era - a dollar spent in America usually put Americans to work; now - the spent dollar (just looking at Walmart) seems to employ a significant amount of Chinese. That aspect won't change in the near to medium future.

A look at California's construction of a high-speed rail.
https://city-journal.org/high-costs-...igh-speed-rail

[donquixote99]

It's good to consider critically. I doubt if the sort of cost growth associated with weapon system programs with ambitious technological goals will be seen here. Speaking of defense, the truly radical ( in our lifetimes) part is spending on this level not for military purposes, but for direct civilian benefit. Defense spending was often justified in part by it's domestic economic benefit, we should get a lot more bang for the buck in that respect here.

It is high time to reverse decades of increasing austerity in domestic spending. The Reagan dictum that 'government is the problem' is basically a lie, serving the money-hoarding class.

[Chicks]

Wall Street roars to new records ahead of earnings season

https://finance.yahoo.com/news/stock...221441259.html

...because, of course, ol' "Sleepy Joe" is a commie who's going to destroy the economy!

[Dondilion]

What explains the widening gap between Wall Street and Main Street.

https://thehill.com/opinion/finance/...in-street?rl=1

[Chicks]

Stocks jump, S&P 500 and Dow hit record highs after retail sales, jobless claims top estimates

https://finance.yahoo.com/news/stock...221220587.html

Retail sales WAY up, jobless claims WAY down. Main street recovering just fine. Because of ol' Commie Joe, lol. What WILL the Repubes do? ROFL.

[Dondilion]

How fast is the economy recovering?

What is its character?

https://projects.fivethirtyeight.com...y-coronavirus/

[BlueStreak]

Originally Posted by Dondilion

What explains the widening gap between Wall Street and Main Street.

https://thehill.com/opinion/finance/...in-street?rl=1

Ignorance.

Too many American workers do not take their 401k or investing seriously. They don't understand how the stock market works because they have not been adequately educated and consequently, don't trust it. They under invest if they invest at all. I work with a bunch of guys, younger Baby Boomers in their 50s and 60s, who've waited until NOW to start worrying about retirement. If retirement age is only 5 years away...........buddy, it's too late. So they're all dumping petty cash, $100 or so here and there into these gimmicky bitcoin cryptocurrency stocks and hoping to make stupid money, fast. Either that or they're finding excuses to collect disability. Makes me sad.

I see big problems coming when all these people get too old for work and have done absolutely ZERO to prepare.

Me? I started putting everything I could in my first 401k in 1991. Today, I'm 57, have two 401ks worth a total of approximately $750k and plan to retire at 60. They want to know what my "secret" is.............

[RickeyM]

I wish I had put even more into my 401k. Even as it was there was enough there that when I had to retire early on disability I could pay off my house.

[Oerets]

The fact is for more then a few the 401K when enacted was meant as a supplement for a employer backed retirement. Never a standalone, what it has become for the majority of workers now.
Then add the stagnant wages and rising costs the 401K is used as a emergency source of funds.

We were lucky to both have a old employer supplied retirement along with 401K. Never need to "borrow" from the 401K and fully funded the accounts. Thank you organized labor once again!

[Dondilion]

Originally Posted by Oerets

The fact is for more then a few the 401K when enacted was meant as a supplement for a employer backed retirement. Never a standalone, what it has become for the majority of workers now.
Then add the stagnant wages and rising costs the 401K is used as a emergency source of funds.

Essentially correct!

The basic idea of a pension was to save workers from themselves and the vagaries of an economy.