WHAT IS THIS SOCIETY COMING TO............PART TWO

[nctarheel]

Veterans without a home, hungry children, hungry seniors, citizens without medical care, all noble places toward which the rich can direct their riches to make life better for another human being. But what do they spend their money on?

             A STUPID YACHT BIGGER THAN EVERY OTHER PERSON'S YACHT

Spending upwards of $400,000,000 to as much as $4,800,000,000, these people are nothing but narcissists whose main goal is to outdo their contemporaries. 

Imagine what good that kind of money would do if re-directed to help those in need.

MAYBE THOSE WHO PAY FOR THESE YACHTS SHOULD BE REQUIRED TO CONTRIBUTE TO THE CHARITY OF THEIR CHOICE IN A LIKE AMOUNT OF MONEY AS PART OF THE PURCHASE PRICE OF THE YACHT BEFORE THEY CAST OFF

[papawofboo · Accepted solution]

Where are you 2 coming from. How do you ever come up with his are about politics? He call's no name, mentions no color or say's anything about animals.

I have read his 2 post over twice, I agree that the people he talks about need help. He is just wrong (my thinking) that it is rich people's problem. It is not his or my or your place to tell a person how to spend their money, or what to spend it on.

I feel like most of the super rich do their share of donating to causes. They just might not be donating to the ones he puts at the top of his list. Gates and his wife have given mega dollars, also the guy from Amazon, I think his ex gave away most of what she got in the divorce. The McDonald guy left a fortune to the Salvation Army to build places of worship and play.  Look at the sport figures that are in the news with their donation, hell James built a school. And don't forget about the Waltons, the one's in Ark.

Is he right in his thinking, yes and no. Is he political, nope. I will say this, the problem he talks about can only be solved at the ballot box not by putting people down for enjoying their money.

Let me close by saying if his is taken down there are a lot more that need to come off just for the fact of how stupid they are. 

 AARP Moderator Darry, does he have the power to MAKE you take the post down? Read the post carefully. Who were the first to bring politics' into the thread. 

[SpringIsHereVA]

I have deleted my comment. Nicole  👵

[DaveMcK]

I also fear that we are headed toured another Depression! It seems that there are forces driving us in that direction. 

[Tonster521]

@DaveMcK As you may or may not know, a Recession always precedes a Depression. Moreover, most Recessions are addressed by monetary policy (i.e., cut interest rates,etc.) and fiscal policy (i.e., increase government spending, cut taxes, etc.) as well as supporting financial stability (i.e., FDIC, TARP,etc.). So, there needs to be declining economic activity over a long period of time for a Recession to evolve into a Depression. Over the years, there have been several economies on Earth that have met the criteria for a Depression. Many are small countries that the Media does not report on unless you are reading Financial Times or Bloomberg. However, the last Depression that many folks should be aware of was the fall of the Soviet Union in the 1990's. The Soviet Union needed to transform from a controlled economy to a market driven (global) economy and failed miserably. The results were worst than the 1930's Depression in the USA and Western Europe predominantly Germany. 

The USA is the number 1 economy on Earth. Unemployment has remained below 5% for many years. Although there may be some bumps in the road (2008-2009), the GDP has been growing. The S&P 500 which is a very good indicator for our economy has been growing decade after decade. In fact, for the five (5) year period June 12, 2020 thru June 12, 2025, the S&P 500 index has increased from 3,004 to 6,045 which is a gain of 98.77%. So, my question is, what forces are driving the USA in the direction of a Depression. 

[nctarheel]

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@Tonster521 wrote:

Although there may be some bumps in the road (2008-2009), the GDP has been growing.

In fact, for the five (5) year period June 12, 2020 thru June 12, 2025, the S&P 500 index has increased from 3,004 to 6,045 which is a gain of 98.77%.

So, my question is, what forces are driving the USA in the direction of a Depression. 

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First of  all, 2008-2009 wasn’t a “bump in the road”, it was almost the destruction of our financial system, @Tonster521. Other than that, I am in agreement with you. Futures trading is a gambler’s paradise. My comment about the futures that morning was MY WAY of responding to @DaveMcK ‘s comment about depression. Since that did not work, your direct question to him is certainly warranted. 

[Tonster521]

 @nctarheel FYI, I am providing a link to a graph from the St. Louis Fed wherein a picture of our GDP since 1947 is illustrated. https://fred.stlouisfed.org/series/GDP  I choose to use 2008-2009 in my reply because I believe most folks experienced the pain of that recession since our banking system failed. Most folks have a checking and/or savings account. The Feds were there with The Troubled Asset Relief Program (TARP) which provided approx. $800 Billion into the financial sector (mostly banks) with some amounts going to insurance and auto companies as well. Most folks were not aware that the FDIC could not take the hit and that would have destroyed all confidence in banks. So, only approximately $800 Billion of TARP provided a path to preventing the banking failure. The other aspect of the 2008-2009 Recession was the collapse of the housing market which many folks felt the pain for years even though the economy got back to growing again. The GDP is not the only factor to consider, but it is referred to in just about every economic report and many folks have heard of the GDP. In my own experience, I would have used 1980-1982, but the GDP was somewhat flat and may have increased even though unemployment was high. I believe many folks who are readers and were 30 something with families at that time would recall harder times in 1980-1982 than 2008-2009 especially if one was employed in manufacturing and its related industries. 

[nctarheel]

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@DaveMcK wrote:

I also fear that we are headed toured another Depression! It seems that there are forces driving us in that direction. 

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You may be right, @DaveMcK.

The futures market is down 600 points this evening.

[Tonster521]

@nctarheel, please see my reply and question for DaveMcK. The futures market is not a very good indicator of economic activity. It is a short term (overnight in most cases) trading activity. In my opinion, buying and selling futures is almost the same as professional gambling. Some traders are very good with buying and selling futures. However, for most of us folks, I suggest to stay away from futures. Instead, take $100 or $200 and go to a casino. You will have more fun losing your money and may be able to eat very good at the casino buffet. And, if you win some money, it is like icing on the cake.  

[ChasKy53]

Hey, NCTarheel, have you tried to get AARP let you start a political forum? To simply be honest, this topic is kind of connected to politics.

[nctarheel]

How do you find a connection to politics, @ChasKy53? There are individuals on both sides of "the aisle" so to speak that demonstrate the same attitude towards life as I described in my two threads. It has nothing to do with politics. 

[SpringIsHereVA]

I have deleted my comment. Nicole  👵

[papawofboo]

Ok, the dust has settled from when this was first posted. You know who he is talking about?

[nctarheel]

Some of these yachts require that they be accompanied by a secondary yacht to accommodate certain things like helipads for helicopters and sleeping quarters for staff.