Was on a boat this weekend that has 4 300hp engines. Gets about .9 mpg when wide open running 60 mph. We burned about 300 gallons fishing this weekend. At about $5/gal at the marina, it adds up.
Is it a legitimate question to ask Harris?
- Thread starter bonefish1
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What about O'bummer's Solydra? Can't forget that waste of money
money spent on things like boating, fishing, golf, travel, etc isn't really real money.
Anyone that can afford to burn $1,500 of gasoline by rolling in a big boat at 60 miles per hour for 30 miles is very wealthy. That's about four months of groceries for a family of four. It's good to be rich, but complaining about the price of gas for a $1,500 day on the water doesn't cause a lot of people to shed tears.
Besides, anyone that has that kind of bankroll has been the beneficiary of a very friendly stock market.
- The Dow is currently at 40,800.
- When Biden took office it was at about 31,000
- That is an increase of about 24%
- The S&P 500 is currently at about 5,600
- When Biden took office it was at about 3,800
- That is an increase of 67%!!
Kameleon has said it is all about the middle class, not the rich.
People who can feel the 20% increase in the price of groceries during the Crow/Harris term.
Spoken like a true lefty lib. "You're rich, so quit complaining".
What's amazing is that Biden has totally screwed up the economy yet the stock market continues to push forward. That the was one thing I was hoping Biden wouldn't screw up, and despite his best efforts, he didn't.
"Electric cars are great, but we don't have enough electricity for them... If you want to go from here (he's in York, PA) to Washington without stopping five times you can't have an electric car."
BTW, York, PA to Washington DC is a 92 mile drive. lol.
BTW, York, PA to Washington DC is a 92 mile drive. lol.
Snowflake whining? Melt on.
I'm a free-market conservative. For the rich? the stock market gains have more than made up for inflation.
I need to know what you are investing in. I'm pretty aggressive...especially for my age and I'm hoovering around where I was four years ago but lost four years of compounding. "Mostly" in growth...large cap...S&P/Nasdaq some blends, little value and some global with small and mid caps. Quite frankly I have left it alone the last four years, unsure what changes to make and fearful of trying to time the market. At my age losing 4 years of compounding at a small interest was substantial and I am aware that for each bear there is typically 3 bull years, but without the years of youth in my life...you hate to be at ground zero four years later and that bear market last more than 1/4. I'm unsure a president can do "a lot" to help the market, but policies can hurt the market
Elementary stuff (to me):
Do not try to market time.
Become a much more conservative investor as one grows older.
Ride out market anomalies.
Spread your "need it to live on some day" money in funds. Only gamble your "can afford to lose a lot or gain a lot" money on individual equities if you are willing to live with the potential consequences.
Only invest with reputable securities firms that have insurance to cover potential employee misconduct.
Never give advice about particular companies or specific equities.
I pretty much follow that with the exception of the conservative part. I think it was the 100 minus age for stocks as a rule of thumb and I'm not there. I'm around probably close to 70% in stock mutual funds which is better than pure stocks...a little less if I consider cash laying around. I'm not in any individual stocks and the closest I am to that is only ETFs which is much closer to mutual funds as you know except for a trading price change at different times of the day. I'm already not wanting the RMDs in a couple of years. I can do pretty much what I want, I just want to leave something behind and my wife says maybe I leave them a bit less as she wants me to spend money on myself more. I never grew up that way.
My wants are not many and the house is all I owe and could pay it off with cash laying around if desired. I'm setting okay...just wanted potential growth in Fidelity to project what it did a few years ago.
So, wealthy people shouldn't be concerned when something costs more than it should, or when the govt is taking more money out of their pocket? They should just accept it?
I'm a family of four, I wish $1,500 would cover four months of groceries.
At close to $300 week at the grocery, you are closer to a 1 1/2 months if I play it tight.
Of course I'm not rich, I only have an inboard ski boat with one 350Hp engine in it.
$300 a week? Not cooking those potatoes from scratch, eh? Yes, Starbucks and premade pizzas and salads can add up.
Of course wealthy people should also be concerned about their relative net wealth, how much government gets, and how government gets it.
For instance, Florida has no state income tax, but crazy high hotel/tourism taxes, above normal sales taxes, and pretty high property taxes. That's not a complaint - that's Florida's reality. Oregon? Very high state income tax and zero sales tax. Some places, such as Manhattan, are 'net' much, much higher. So if I moved to Manhattan, I'd need a higher income to sustain my current lifestyle.
For me? I'm concerned with a comparison of
- costs to
- my ability to earn and produce income (in my case, from employment and from investments).
Anyone who has generated their own high net worth (versus inherited it) and can afford luxuries like a boat is likely a strategic financial person that gets this.
FINALLY, not a reply to any poster here, but sometimes the sense of American entitlement is shocking. There are millions of Americans that cry poor, while
- getting their morning coffee at Starbucks or Dunks,
- multiple movie streaming services,
- new Nikes on their feet,
- a bullshirt college degree that was of no use,
- two cars,
- fast food replacing home cooked food, and
- a pack of cigarettes in their pocket.
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I think about others who are not as fortunate. Being retired my investments so far have not kept up with inflation. That’s ok as I’m not suffering. I think about the millions who are. I’m very concerned for those who will be impacted by the future of Kamunism.
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.
Are you implying that flying with a full commercial airline is a higher per-passenger fuel cost than driving? Because that is just plain not true. A full size commercial plane has an average of about 300 passengers and uses about $20,000 of fuel for a two hour flight. That's about $67 of fuel per passenger for a 1,000 mile trip. Not that different than a car - a bit cheaper, especially if the car has two or less passengers or if it's a big jet that holds over 500 people. Not as efficient if it's an all but empty big jet.
Burning 300 gallons of fuel in a luxury boat is good for the economy? This one I gotta hear. 😂
Not a fan of Starbucks Coffee, regardless of their politics, find their coffee to bitter.
I go Copper Moon Coffee and support our own.
But sounds like you haven't grocery shopped for a family of 4 since before Obama. That's the last time I remember groceries being that cheap and we are far from an extravagant family.
Wife and I are former poor farm brats whose idea of dressing up and eating fancy is a shirt without holes in it and going to Appleby's or Texas Roadhouse.
Look at the taxes on fuel, that's a lot of tax money being contributed just for fun and pleasure.
Agreed...Starbucks is over-roasted and bitter. It is for people that turn their coffee into a sugary milkshake. Make a pot of good coffee with a grinder and a Mr. Coffee.
We shop. We cook from scratch. Maybe I'm off by $100 a month - didn't count things like paper products, detergent, etc in my quick mental estimate.
Is it a rich person's way of blowing some income on some fun? Absolutely and more power to em if that's how they want to spend it.
Oil workers, refinery workers, dock workers....all making money on that transaction. Oh, and the guys who built the boat, the trucker who delivered the boat, the mechanics who maintain the boat, the wax manufacturers to keep the boat polished, the bait and tackle shops who supplied the tackle for them to fish, the truck manufacturer and its employees who built the truck....and the list goes on and on.
And they may have had a beer or two during the day, they may have eaten at a McDonalds on the way home.
It's called Capitalism and free enterprise at its finest.
And not one government hand out was included in these activities.
All because a couple of guys went fishing one day.
Grinder?
You are way too fancy for me, or more likely, I am just way too lazy for that. Have a grinder somewhere, or used to, but who has time for that?
But, Copper Moon out of Lafayette is pretty good coffee and owned by Purdue alumni. If you haven't, give it a try.
But the guy that has the dough o spend on that probably isn't affected all that much by inflation when it has been more than offset by a 60+% increase in the S&P 500.
Not everyone invests. And with the high price of Bidenonmics killing everyone's purchasing power, I'm guessing they noticed the difference.
That’s why I said that inflation hurts poor people more than the wealthy.
If you’re wealthy enough to have a large boat I would hope one would have investments. If not—might be in over one’s head a little.
You are routinely childish and insulting.
You can discuss anything you want with yourself, but life is too short to respond to your name calling, passive-aggressive nonsense, and insults. Yes, I know you'll continue the insults and childishness, including in your response to this post, but you'll do so with very limited interaction from me.
Does that include 'telling the truth', hoosierfanJM, and the offensive "jboiler23", or just your katsratch username?
The boat we fish costs around $900K. The US builder employs a lot of people to build it.
The 4 engines are all Mercury and each costs in the $50K range. Also made in the US.
Each 100 hr service on the engines costs about $3200 total, that's done by a single local guy.
Someone has to refine, ship, distribute and sell all that fuel for the boat. (should mostly be US if we pumped/refined more oil).
So yeh, burning 300 gallons of fuel is good for the economy......
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.
Just to be clear, it's not my boat. It's my buddy's boat. But, I share operating expenses.
Yeh, I have investments and they've done well. But, that doesn't take away the fact that it still pisses me off to pay 30% more for something today than I did 4 years ago (and no, it's not because of covid).
Well then, we need to add the owner of the liquor store, the beer producer, the maker of Dorito's, the farmer who milks the cows for the dairy in the dip.
In the Harris/Biden economic world, you're spending a lot more than 100 bucks.
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