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Get Ready for Trump-flation
(prospect.org)
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this post was submitted on 08 Nov 2024
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politics
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My 401k lost value significantly the week before the election, but has rebounded now. The slime balls who dominate the stock market must have been afraid that Harris would win. This country is disgusting.
It's impressive we give so much control of our financial instruments to idiots who obviously don't fully grasp how tariffs and protectionism work.
Makes me wonder what would happen if a government funded and operated pension fund were setup. Basically like social security but ramped up to fully cover the cost of retirement for all Americans.
I also wonder how that would realistically impact macroeconomics if the money were simply printed instead of budgeted to avoid the problems of expecting infinite growth and a growing retirement population as people live longer and populations shrink. There seems to be some growing economic questions as to if measured money printing can be beneficial to an economy, and doing so for social good, even social security if you will, might theoretically stave off deflation. It would probably become a useful dial for the Federal Reserve to adjust in persuit of its dual mandate as well, increasing or decreasing how much of the fund is printed vs budgeted as needed. Maybe that could even become a third mandate of managing the social pension fund to ensure comfortable retirements
Yeah. I wish I had a choice. I always thought the stock market was a fucked up idea. Rich people gambling with other people's money. Like you said, awesome we structured our whole system around the idea.