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Old 11-29-2017, 04:10 PM
 
79,907 posts, read 44,181,556 times
Reputation: 17209

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Quote:
Originally Posted by whogo View Post
Only fools stay out of the stock market. History has shown to buy and hold you earn a lot more than 1%.

If people earned 5% in savings accounts this nation would be in a world of hurt.

I am sure you have been stating we are in a bubble for at least a couple years while the stock market has made huge gains.

I suggest dividend paying stocks for the faint of heart.
We have paid 5% and the country did fine. Even Wall Street is warning on the bubble.

Money wasn't intended to be free.
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Old 11-29-2017, 04:23 PM
 
Location: My House
34,938 posts, read 36,247,610 times
Reputation: 26552
Quote:
Originally Posted by pretty in black View Post
I was in line behind a lady who paid for her food with a food stamp card but, she was carrying a Michael Kors bag. She was looking ashamed because she caught me glaring at her bag. LOL It's not fair that people are allowed to cheat the system but, it's also none of my business.
You sure she looked ashamed over carrying a MK purse or just over someone judging her while she used an EBT card?

https://m.ebay.com/itm/NEW-MICHAEL-K...0AAOSwIFtZ93~i

39 bucks.

Get back to me when you see someone buying on EBT and carrying a leather Hermes birkin. Those are worth too much not to sell them when you’re on hard times. Higher resale value than most used cars.
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Old 11-29-2017, 07:40 PM
 
Location: Houston
26,979 posts, read 15,883,903 times
Reputation: 11259
Quote:
Originally Posted by pknopp View Post
We have paid 5% and the country did fine. Even Wall Street is warning on the bubble.

Money wasn't intended to be free.
We paid 5% when the debt to gdp ratio was a lot lower. We can’t do it now.
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Old 11-30-2017, 04:42 AM
 
Location: Florida
9,569 posts, read 5,620,541 times
Reputation: 12025
Quote:
Originally Posted by InformedConsent View Post
Good point.

I'll bet very few realize how US welfare policy and programs are resulting in an exponentially growing permanent welfare-dependent underclass. It's mathematically unsustainable. Period.
You want to know what is also mathematically unsustainable?

The insane amount of money the US spends on Defense and its perpetual wars.
Rather spend my tax money on the living instead of bombing people to death all over the world.
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Old 11-30-2017, 04:49 AM
 
Location: Sector 001
15,945 posts, read 12,282,765 times
Reputation: 16109
We've been rewarding women who pump out kids since the beginning of time. The make irresponsible decisions and play the sympathy card. I don't see that changing any time soon. Always some beta male to come in and solve all her problems while she cheats with the jobless drummer in the local watering hole on the side.
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Old 11-30-2017, 04:49 AM
 
79,907 posts, read 44,181,556 times
Reputation: 17209
Quote:
Originally Posted by whogo View Post
We paid 5% when the debt to gdp ratio was a lot lower. We can’t do it now.
Again, because others are completely irresponsible with our money shouldn't mean that seniors have to prop that up. It's going to collapse either way.
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Old 11-30-2017, 04:58 AM
 
Location: Florida
9,569 posts, read 5,620,541 times
Reputation: 12025
Quote:
Originally Posted by pretty in black View Post
I was in line behind a lady who paid for her food with a food stamp card but, she was carrying a Michael Kors bag. She was looking ashamed because she caught me glaring at her bag. LOL It's not fair that people are allowed to cheat the system but, it's also none of my business.
Quick to judge? I buy groceries for a elderly neighbor of mine with an EBT card decked out in Nike sneakers driving a late model SUV.
Is this how you formulated your opinion? How people are dressed or what they drive?
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Old 11-30-2017, 05:26 AM
Status: "“If a thing loves, it is infinite.”" (set 7 hours ago)
 
Location: Great Britain
27,160 posts, read 13,444,010 times
Reputation: 19454
Quote:
Originally Posted by lovecrowds View Post
Some elderly folks could be skipping meals if state budget cuts continue | KTUL

https://www.huduser.gov/portal/datas...018summary.odn

What a tragedy that while poor families get huge $6,200 tax credits, up to $50,000 a year in housing assistance and tremendous amounts of WIC and EBT that America's senior-citizens are starving.

Would be nice if the Republicans would eliminate the safety-net for families who don't have disabled children.

I think it is okay to have good safety-net for physically disabled children, but it is tremendously sad that while these families have baby after baby and pregnant on a yearly basis for more money that so many senior-citizens are starving.
I don't think many Americans supported the cutting of meals on wheels services for the elderly.

Trump budget: Meals on Wheels cutback prompts backlash - BBC News
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Old 11-30-2017, 07:00 AM
 
16,212 posts, read 10,818,108 times
Reputation: 8442
Quote:
Originally Posted by pretty in black View Post
I was in line behind a lady who paid for her food with a food stamp card but, she was carrying a Michael Kors bag. She was looking ashamed because she caught me glaring at her bag. LOL It's not fair that people are allowed to cheat the system but, it's also none of my business.
LOl on an MK bag!!

I use my aunts EBT card to shop for her sometimes and I have a Coach bag lol! If you looked at me I'd stare back at you like

And FWIW my aunt gave me the Coach bag and she has 4 more of them. She has a lot of expensive purses as she collects them and as noted by a previous poster, she has not always been poor. She had some health concerns and had to retire early from her job, but she has a lot of expensive purses and oddly enough, none of them are MK because to her they are not high quality. I call her a "purse snob" lol and she would never carry an MK bag.

Quote:
Originally Posted by whogo View Post
Only fools stay out of the stock market. History has shown to buy and hold you earn a lot more than 1%.

If people earned 5% in savings accounts this nation would be in a world of hurt.

I am sure you have been stating we are in a bubble for at least a couple years while the stock market has made huge gains.

I suggest dividend paying stocks for the faint of heart.
I also agree with this. I put a majority of my savings into the markets and have had returns in the 7-10% range over the past 6-8 years especially. Older people of course should not keep the bulk of their savings in the market due to them being closer to retirement and that being a risk to their funds, but keeping a small amount during these low deposit account rates of late is a good idea considering how well the market is doing. They should keep something in the game.
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Old 11-30-2017, 07:18 AM
 
Location: Oklahoma
6,811 posts, read 6,943,945 times
Reputation: 20971
Quote:
Originally Posted by EastwardBound View Post
People in perpetual poverty largely lack the skills and ethics to escape it. They do not understand the concept of thrift and personal responsibility, nor do they plan for the future. Big screen tvs and rented furniture is the norm.
Good point. One young woman I spoke to was refusing to make her car payment because it was in the shop for repairs. She said she wasn't going to pay for something she couldn't drive. She didn't have any sense of responsibility for the financial obligation she signed up for when she took out the loan.

If parents don't have financial common sense, they can't teach it to their kids. Maybe it's time for the schools to incorporate some common sense financial course in their curriculum.
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