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Culture War Roundup for the week of October 24, 2022

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I am sufficiently fixed in my views that engagement with you would likely only produce heat. Nonetheless, I dislike you calling me sad for sticking with my man.

He was the only President in my working life whose administration produced an economy sufficient for me to earn money for a retirement account, which is now down to 60% of what it was when he left office. Tangible personal results like that are memorable and anecdotal by their very nature, and thus unfalsifiable, so no data-based argument would sway me.

Are you within 10 years of retirement, and if not, why do you care about the drop?

He was the only President in my working life whose administration produced an economy sufficient for me to earn money for a retirement account,

If so, your working life must be very brief to date, or you are not very representative of the norm. See chart here, indicating that median real retirement savings in 2019 ($65,000) was just $1200 more than it was in 2016 (63,814).

which is now down to 60% of what it was when he left office.

The SP500 closed on Jan 20, 2021 at 3851. It closed yesterday at 3807. That is obviously not anywhere close to a 40% decline; it is a one percent decline. If your portfolio is down 40% then you might want to rethink your investment strategy. If you are young and you are comfortable with volatility, a portfolio like yours might be a good idea. But it sounds like you are not comfortable with volatility.

I had a comment with numbers and info in it, but I cannot paste on iPhone (fix plz @ZorbaTHut ASAP), and so it is lost. Suffice it to say that, had I simply kept my IRA out of the market when I was laid off in Dec 2020 (EDIT: 2021) and just let it bear interest, I would have 150% of my life’s savings in that account.

I honestly have no idea how to fix that, I don't even own an iPhone. Any developers out there with mobile Apple tools who can work on this one?

I don't understand -- your savings would have grown 50% in less than 2 years? That would require an annual interest rate of over 20%.

Sorry, 150% of my current IRA, which has lost a third of its value after I reinvested my 401(k) in January 2022 upon losing the job it was dependent on in December 2021. (I also missed a year in my previous reply.)

I am reminded by your comment of the Trump supporter who validated his support because his buisness had been doing so well. His buisness iirc was repossession or some similar business.

I do not believe that you like Trump on the account of economic indicators during his tenure, nor do you try to make it plausible.

It’s true I did believe he would increase my fortunes when I voted for him, because I believed he was a selfish man who would increase the ability of businessmen like himself to profit. His tax cuts validated my choice. Why I liked him was his enthusiasm for America, his wholehearted dismissal of the woke nonsense as foolishness and tripe, and his awareness of the games being played by those in power.

You don't consider the economy a plausible reason to motivate someone's political leanings? That defies belief.

Tangible personal results like that are memorable

I agree with that, but I don't think either president had that much impact on the economy. Funnily enough taking off the gloves to win the last election might have been a huge mistake for the Democrats because of that.

The President doesn't have that much impact on the economy in general. Not directly, anyway. Appointing the Fed Chair is a big deal, but that almost invariably ends up being someone responsible and non-controversial because no one wants a weirdo who is going to drive the economy off the cliff.