Now compare the low 1929 October tax rates to the tax rates in the Republican tax plan!
Yeah, plenty of us have felt that way since November.
In addition to that it was the time of Prohibition 🍺
Tax cuts for the rich pay for themselves in fantasyland but in AMERICA they lead to huge deficits and recessions. Of the 49 quarters in recession since 1947, eight occurred under Democrats, while 41 occurred under Republicans. source In plain language and economic math alike, trickle down economics is utter horseshit but the GOP doesn't care because they're fully controlled by and for the rich.
edit: I've been hearing a lot of 'both sides' talk which at this point I have no patience for. False equivalency is stupid, if you'll forgive my bluntness. Just look at being forced through Congress to give huge amounts of money to the wealthy and create an entrenched elite ruling class.
IT'S A GODDAMN PARTY LINE VOTE
While wealth inequality is already the worst it has been since 1928
Everything is really lining up! Great work, guys!
We are going through another prohibition. 🌲🌲
"The country is going to shit but our team is winning".
It must be such a mental struggle to cope with the fact that the belief system that you grew up in and that you cherish are a burden to mankind.
Probably not a coincidence, then, that there are so many Nazis kicking around these days.
How can I make money off the coming collapse? I'm being serious here.
Edit: I'd like to thank you all for putting in a good effort for explaining all this to me! But it still doesn't make any sense. :( I don't know the jargon. Hopefully I have time to learn before everything goes to hell in a handbasket.
The Republican head of the science committee in Congress literally said windmills lead to global warming because they absorb the wind that cools the earth.
There is literally no such thing as too stupid when it comes to Republicans.
The cirrrrcle of liiiiife
1929 was the year of no cookies.
Being rich and owning property.
Guess why everything they do looks like they want to create a coming collapse?
What? You don't think Greedy Old People is a good party name?
The entire treating politics like entertainment thing is what's making everything go sideways. We've become too attached to the labels "Democrat" and "Republican". Instead of being a set of political beliefs, its become a way to identify those who are like you. At this point, it's essentially a sports rivalry with the whole 'no matter how bad they get, they're my team' mentality.
I really hope its that Abradolf Lincler guy.
speak for your location.
I can't believe they're still called the GOP! Need to change it to the GORP- the R is for RICH, obviously.
Can't wait to see who will became German Chancellor in 2023.
Now from the makers of The Great Depression, updated for the modern age, The Great Regression!
Thing is republicans are trying to set it up so that the economic collapse happens just as dems take power.
It’s getting better though ;)
And there was a fucking prohibition on alcohol in 1928, don’t know why they use an emoji of beer lol
They certainly believed in laissez-faire capitalist economics, but trying to ascribe the modern versions of liberal or conservative to either the Republicans or Democrats in the 1920s is pretty impossible without adding a lot of qualifications.
Black Friday is quite popular, let’s bring back Black Tuesday!!
This is faked, Right?!?
No one is that dumb...
They don’t want a crash, they are just too short sighted to look past short term personal benefit.
The people who end up jumping from rooftops during a depression aren’t the poor. They were poor before.... they are good at it. It’s the newly poor, formerly rich.
Tax breaks sound great when you make lots of money. Especially when you don’t think too hard about where that money comes from and how it could easily stop flowing.
The tax cuts can't take place before 2018, though it may be 2019. With the way it's looking like a blue wave will hit in 2018, it's basically guaranteed to go south when Democrats gain power again.
I don't think there was any internet browser in 1929.
We are all speaking for your location on this blessed day
Wooo political shenanigans. Didnt they do this with the bush and obama trsnsition, fuck up the economy and the blame the dems
Gay Jeff Sessions
Facts @ Republicans = Waste of Fucking Time
The Great Regression.
me too thanks.
Their cult following didn't and won't see that.
Did you see them asking where Obama was during 911?
We're talking about the dumbest fucking group of people in the world.
Little Caesars franchise.
$5 pizzas are the best friends of poor people.
Wealth inequality is already worse than in the Victorian era. It will be at the level of the French revolution by the end of 2019
i'm starting to look at funds that specialize in bear markets. it seems the crappy part is for the duration that there is no collapse these funds take a beating. another thing i'm looking at are funds that focus on consumer staples, these seem to dive when the rest of the market does but performs just slightly better than the rest. your mileage may vary, the preceding is not reliable investment advice, you invest at your risk, i'm not a professional adviser. this is just the stuff i've been worried about and i haven't yet committed to any of this on my own.
Yes but it could be better as Greedy Old Rich People
They don't know anything.
Make Depression Great Again.
No, you want to buy property during the crash. Then wait a few years and sell it for much more.
“Invade Russia in the winter“ Oh, caaaaaan doooooooo. 1 battle of Stalingrad later... I CAN'T DO THIS ANYMORE, I JUST WANNA DIE!
I’d love to corner him at a party and explain how hydrogen can form Dihydrogen Monoxide. It would be banned while I slept off my hangover.
Tell me, we’re 1920s Republicans the conservatives or the liberals. Is it appropriate for young conservatives to celebrate Republicans is office in the 20s?
They only had IE. Those were sad and dark times.
I wonder when parties start to buy popular politicians from other parties.
This. Another bit of context is that FDR's New Deal Coalition was in a lot of ways the beginning of the Democrats as the party of the working class (fighting for consumer protection, worker protection, etc.) A lot about the coalition then is different from now, but at least economically the republicans then were already the party of small government and low taxes. (And, the income inequality that inevitably follows.)
It was really silly too, because a lot of people see the economic crisis as being a big reason why Obama won.
It's like that every. Fucking. Time. People(stupid/ignorant) people think these changes happen instantly. So when a Democrat works endlessly(and painfully) to get us out of debt after 4/8 years, a Republican takes office and credit, blames the previous incumbent for debt, then proceeds to tank everything again.
I blame the dude that killed that damn gorilla, the worlds been on a slippery slope since then
"Young Conservatives" Oh, so you mean red pilled college frat boys who couldn't give two shits about anyone else other than themselves? Sounds about right
We all know how well that worked out for the upper classes.
You can have your cake and eat it too with what you're describing. Do a 40/40/20 portfolio of low volatility large caps (I'm in SPHD, VYM, and FVD), bond cefs (my non IRA acct has BKN, BAF, and EIV), and short etfs respectively (I'm in SH and TZA). Take the dividends from the first two camps and use them to average down your costs on the short etfs.
Then when things crash or correct you sell off your short positions in tranches. A little bit at a time (>$1000 chunks). And you invest those proceeds back into your other positions to average down their cost while market sentiment has turned against them.
That's what I'm doing, anyway...
An army of Meeseeks.
I read this in Ken M's voice... then remembered that Ken M is a fictional, text-only character and therefore I have never heard his voice. Apparently I have a specific voice in my inner monologue set aside just for Ken M.
The Yuge Depression.
"Its going to be better than great, believe me. It's going to be YUUUGE!"
What they’re doing is firmly establishing a Socialist party in the US.
INVEST IN GUILLOTINES!
Just going to say this, the great depression was years in the making. It didn't suddenly happen one year after a political party took a majority hold in office. It was a series of bad decisions by a lot of people which caused the banks to fail among other things.
"legalizing now would have no positive effect on our economy" -Delaware legislation-
That's because you waited so long that all the surrounding states reaped those fantastic benefits and no one wants to come to Delaware now. Get your shit together Delaware!
Its okay a lot of them have no actual education and simply look at each-other for confirmation that their idea works. Youre username is relevant to their kind.
Well, there is a theory of every 80 years there being a crisis. Last one was great depression/ ww2, before that ~80 years was the civil war, 80 ish before that was the revolution.
Nah only poor people die of famine and unemployment
Young Conservatives is a parody account so yes.
Edit: on further looking into it I may be wrong...@GOPteens is a parody...not sure about @YoungCons
My depression is pretty great already, thanks.
What about the Grand Rich Old Party of Elites?
More like it’s ending I would say. No idea when 🌲 prohibition will be ending federally in the states but in Canada, the lumber industry has been strong for years.
Bitcoin hasn’t ever had to endure a bear stock market since it was created in 2009 and didn’t gain much popularity until 2011. Additionally there’s reason to believe that the price of bitcoin is artificially inflated (look up bitfinex printing Tether). When people want to start taking money out of bitcoin, I think that’ll turn out to be a house of cards.
As someone who’s very into cryptocurrency and has been since 2013, I’d be interested to see how bitcoin does.
You do not want to own property during a crash. A lot of those assets lost 50 percent in 2007.
Or what investment bankers literally did in 2007 and made millions.
Timon and we're fucked!
We're going to eat them.
Joe Lieberman was traded if I remember correctly..
I’m actually amazed that the wealthy haven’t got the memo.... they also do worse under republicans fiscal plans.
Sure, great big tax cuts sound real great when you’re making lots of money. But as it turns out, when the economy goes to shit, companies go out of business. Stocks go down as sales go down, and all that lovely tax savings pales in comparison to a huge economic downturn.
If people don’t have jobs, or their jobs barely pay them enough to live, they don’t buy things they don’t need. They cancel their expensive cable. They stop buying extra clothes. They don’t buy fancy gadgets. And the companies that make all that stuff, end up closing their doors, putting even more people out of work (including the highly paid ones). When people can’t afford their rent, landlords tend to have a hard time charging premium prices for rent.
So in year 1, maybe even year 2, the wealthy do better than ever. But then year 3 rolls around and suddenly that bonus isn’t so great, and by year 4, the company is under and they’re out on their ass.
So fucking short sighted.
Man, are you trying to get our internet taken away?!
“Oh but it’s the economic cycle, man. It takes 10 years for the economy to respond so it was actually the people before’s fault” /s
Wishful thinking. They’ve indoctrinated their children with the same BS that drives their political leanings. The ones smart enough to figure it out end up leaving anyway which exacerbates the issue. The Republican propaganda machine is getting stronger with Sinclair reaching into new markets. Information overload and ignorance will put them right back in power. Look at the circus they pulled with Obama after the recession happened on their watch. They took back control with congress and now dominate the S.C. This is not going to get better.
You can bet on it, so to speak.
The financial market has a product that "futures" called, I believe. Basically you say that you will buy or sell at some point in the future for a fixed price. So if today the price for idk, google is 100$ and you say you're going to sell for 50$, and in the mean time the price drops to to 30$, when the time comes you can buy for 30$ and sell for 50$, producing a profit. If you're wrong, you'll have to buy for 110$ and sell for 50$, producing a loss.
The problem you have is to pick the correct point in time. If you're off by six months, you still lose.
Also consider you're betting on the fact that the system crashes so bad you can profit, but not quite so bad that the government breaks down and there is nobody to enforce your deal.
Besides that, material values like gold, preferably ones that are easy to transport and take with you.
You (generally) don't want to buy or sell for less than that because of transaction fees, which you want to account for less than 1% of your investment.
I've seen too many people invest or sell in $200 chunks, spending $5-$10 fees each time. Like, if you do that, you're setting yourself back about 5% before you even begin, and smart people working 70 hours a week fill skyscrapers trying to eke out 5% in a year. So why would anyone willfully set themselves back that much without a blink, right at the outset?
That's why I buy my muni bond CEFs in Robinhood. No fees, plus the monthly income is tax free.
History doesn’t repeat itself, but it does rhyme.
Yeah, like the oft-repeated tale of the dihydrogen monoxide bomb in a school (not sure which version you heard, mine was that a student at some school hid a waterfilled ballon somewhere and left a note saying that a dihydrogen monoxide bomb was hidden in the school, the school was evacuated, cops laughed at the principal, everyone clapped yada yada). It's so easy to make, and most of the supplies are usually freely provided by the school, and the rest can be easily bought in most convenience stores!
If only he was as smart as a duck.
It just means the elite can swoop in and buy those businesses for a fraction of what they're worth.
If you're already super rich when a depression hits, you don't suffer, you make out like a bandit.
Frauke Petry, first female Nazi German Chancellor. At least there's some progress.
Just gotta wait till some of these older motherfuckers die out and suddenly we don't have grandma jeanie-mae hoping they bring back coal mining like the good ol' days and only voting for the candidate who's against abortion because that's all she cares about.
Not under republican control it won’t. Who do you think are the main people continuing the enforcement of modern prohibition?
Prohibition ending is a push of democrats, in democrat lead locations. Republicans want to make the laws more strict, not less. Once again, being analogous to 1928
Also, FDR initially didn't plan any social reform, at least not on that scale. It was the rise of the Labor Unions, due to the depression, that basically gave him no choice.
Moral of the story: if you want change, unionize!
I honestly think the rich ACTUALLY WANT another Great Depression. Unlike 1929, they are prepared for it. They have money stashed in shelters all around this planet. Great Depression II hits, they can buy up assets on the cheap, and get a ton of cheap labor. They can finally get their goal of turning the US into a feudal state.
they also apparently donate their unsold food to the homeless - they're good people.
Oh my sweet summer child.
Greedy Rich Old People Exploits
Invest in essential commodities. We have the same trend here in Saudi Arabia and I moved from an automotive company to food manufacturing company that mainly focuses on dates (the fruit).
Dates is considered to have an inferior elasticity which means when income goes down, the demand for dates goes up and the opposite happens when income goes up.