Is it a legitimate question to ask Harris?

[tjreese]

Other than the silly name calling, that's an excellent post.

So true - inflation has a far greater effect on the poor and elderly. Free market rewards smart risk takers, and the elderly by nature should be risk averse.

Some cause for hope? Inflation, wages, retirement cost of living adjustments, and investment appreciation are all cyclical and inter-related.

• During the Covid era? Prices dropped like a stone, but wages and investment income were also depressed.
• Post Covid? Horrible inflation, higher interest rates, increased wages, solid investment appreciation. That's a tough combo for the elderly and poor but good for the wealthy.
• The last six months? Pretty fantastic: Significantly less inflation, high wages and low unemployment, fantastic investment appreciation, interest rates still kinda high.

What's next? Lower interest rates, higher unemployment, low inflation, less wage increase seems most likely. A mix just like most other times. But it's hard not to like the current economy.

In addition to the older group are others that are limited a bit in how they can increase their wages or if an owner of a business is capable increasing the wages of others. Inflation is not a single expense, but is worked into everything bought and that is a problem for anyone that produces something. It is like another tax. Then on the other end...not matter the hurt of inflation and an ability to keep up with it for those that do invest successfully...keeping up and all the risk in doing such can be wiped clean by taxes. So nobody really knows if they are keeping up other than the day at hand, because a tax change can change everything which can always come down to the compounding time and % gain!

I know I would have been better off had my FICA not been confiscated and instead had a chance to forfeit it in return to what was taken out whether mine and/or a company also paying for me. The government wants your money...NOW. That is why you are forced to depreciate over time, but have to pay quickly gains...or mandatory RMDs and all of that can be under a different tax scenario than it was during the years of depreciation. YOu saved and made any sacrifices, but the government overspending mandates that YOUR money be pulled so they get tax money now...not over the same duration of depreciation...or the same "limits" allowed. This is the husband of a niece and I doubt he is hurting https://www.capitalgroup.com/instit...e/investment-professionals/brock-hillman.html and I know my X's brother's fiancee' who just closed the merger of Saks not long ago may be like you...not hurting, but most of America is

 

[tjreese]

We definitely kill a few beers on the boat, not Bud LIght of course. We also go through some staples like fried chicken, Cool Ranch Doritos (fishing superstition), cheese dip, etc. For a group of 5 fishing, we probably go through $100 in provisions alone.

Sounds like a lot of fun...any particular fish you were hopeful to catch?