Comments by "coolmodelguy" (@coolmodelguy6304) on "CNBC Television" channel.

@Mrbfgray - I'm not here to put down your hard work. Fine. However please allow for the possibility that as you have been performing that hard work, the wealthy have been pouring billions into creating and disseminating a great deal of false information designed to appeal to hard workers. Have you ever charted out GDP growth over the decades, then compared those numbers to the growth of financial assets? If you had the time to plot these numbers out, which I doubt that most hard workers in the contracting business have that kind of time, you would see that you believe and what reality is, have two vastly different outcomes. You have been rendered deliberately ignorant by believing the garbage people like Kevin O’Leary spew out, which is entirely fact devoid.
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@Mrbfgray - Must you always fall back on the oligarch talking points? "Fixated on "someone else having it easier" than you"? Really? You cannot even communicate without leaning on some propaganda talking point. What I feel is anger, that so many good people have been subsumed, so much so that you cannot even communicate outside of a framework that is bought and paid for by billionaire think tanks and media. Did you even comprehend the numbers I outlined in my first post? No, you did not. You skipped right over them and started assigning blame (another oligarch method of divide and conquer). You may not think so, but you are fully indoctrinated (noun: a belief or set of beliefs held and taught by a Church, political party, or other group). By being indoctrinated, you hurt your neighbors, your family and society. I suppose you blame the homeless for their plight as well? Not even thinking about how every time housing (a capital asset) goes up in value, rents also go up. Housing has increased in value by 10X over the past forty years, but wages have not. That increase in value is theft from the pockets and wallets of a working class that has not even had their wages doubled in real terms over the same time span. Crime? Same cause, you cut the economic legs out from people and you will get rising crime. You, because of your "beliefs", are hurting fellow Americans, because you believe the garbage people like Kevin O’Leary spew, yet you never actually research what he says. Pathetic.
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Job creators my a*s, these people are sucking us dry like parasites. Overall, the value of financial assets grew by $13.68 trillion in 2021, an 11.58% increase over 2020. That value increase is just over 66% of GDP for the year. When financial assets increase in value, it is not because of savvy investment planning. That increase represents a vacuum cleaner that is sucking wealth straight out of the paychecks, wallets, purses and bank accounts of the bottom 90% of households in the USA.
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@Mrbfgray - You wrote: Here is the brief recipe how most everyone becomes prosperous/wealthy: A) invest heavy in yourself, master valuable skills and personal integrity. B) capitalize on those skills via yrs/decades of hard work and likely striking out on your own...all the while living well below your means and saving a ton. Live poor to become rich. C) learn how to invest effectively to have modest snowball began to grow "on it's own", the bigger it gets the faster it grows. Learn the power of compounding. Me: A) Done that. Watched those valuable skills become meaningless over time as industrial capitalist moved their capital assets and labor forces out of the country. Retrained a half dozen times, have many real skills, just no longer valued here. B) Done that too. Always lived well below my means. For reasons outlined in (A), my ton of savings evaporated with each new cycle of retraining. Living poor to become rich does not work for the majority. C) The power of compounding? Really? What do you really know about compounding? "“Money bearing compound interest increases at first slowly. But, the rate of increase being continually accelerated, it becomes in some time so rapid, as to mock all the powers of the imagination. One penny, put out at our Saviour’s birth at 5% compound interest, would, before this time, have increased to a greater sum than would be obtained in a 150 millions of Earths, all solid gold." That was written in 1772 by Richard Price, a contemporary to Adam Smith. He worked out the math that showed that one penny could, in 1800 years, turn into 150 MILLION earth size globes of gold. Compounding has been well known as a scam idea, all the way back to Ancient Mesopotamia and Babylon. Those cultures had the wisdom to reset all debts periodically, to prevent the rise of oligarchy. Really now, there is not even one earth size sphere of gold in the entire solar system, 150 million of them is beyond ridiculous. I study these things. You recite propagandist doctrine created by wealthy people for the sake of power. Compounding is magic for money. Since magic is not real, compounding is reality is theft. When financial asset reach the threshold of $118 trillion and "earn" over 10% annually, it is only a matter of time before the rate of return on such assets require more than our entire economic output. You have be dismissing me outright, but it is obvious that you are financially illiterate. You have fallen for a scam economy, in which your several million were gained at the expense of your fellow citizens. Furthermore, you and I are of the same age. In the 1960's and 1970's, it was indeed possible to bull one's self up by ones bootstraps. Now, our economy causes crime and homelessness on an epic scale. Yet in your advice, you insist that what worked for you (in a different age), will work for everyone now. Get real, your ignorance of the "facts on the ground" is just plain old insulting.
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Job creators my a*s, these people are sucking us dry like parasites. Overall, the value of financial assets grew by $13.68 trillion in 2021, an 11.58% increase over 2020. That value increase is just over 66% of GDP for the year. When financial assets increase in value, it is not because of savvy investment planning. That increase represents a vacuum cleaner that is sucking wealth straight out of the paychecks, wallets, purses and bank accounts of the bottom 90% of households in the USA.
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Feng - People like myself have gained multiple skill sets during our working lives, yet somehow the value extracted from us is always greater than the gains. What is so hard to understand about that, eh? Lack of comprehension is a greater problem, those dollar numbers just did not phase you at all, instead you went straight to blaming the "not so wealthy" with a one liner.
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@adamt1828 - Where do you people come from? Have you not been paying attention? If it were possible to do what you describe, Alabama would be the most populous state in the Union. I swear, so many people such as yourself are math illiterate. First of all, investing in the modern age is not investing in anything productive at all, it is a Ponzi Scheme. Bank of America graphed out the amount of money that went into equities last year, almost $1.1 trillion (a record amount). Equity holdings (stocks) make up half of the financial assets that households own. Yet financial assets increased in value by 13 times that amount, an impossible feat. You cannot have asset values rising at double the rate of GDP for decades without draining wealth from the citizens of a society, yet there are always fools coming out of the woodwork to claim that if a person learns to "live below your means", life will be just peachy. What you describe is a downward spiral into oblivion.
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@splendidsnapshot9915 - Critical thinking ability is not what these pundits do and most people are simply unaware of the grift going on in our country. There is an unspoken reason why a majority of our citizens are not seeing increases in their incomes, the very people these pundits are fawning all over themselves for are sucking us dry like parasites. Overall, the value of financial assets grew by $13.68 trillion in 2021, an 11.58% increase over 2020. That value increase is just over 66% of GDP for the year. When financial assets increase in value, it is not because of savvy investment planning. That increase represents a vacuum cleaner that is sucking wealth straight out of the paychecks, wallets, purses and bank accounts of the bottom 90% of households in the USA.
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Where else but the haunt of the morbidly wealthy in empty suits, Davos.
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Feng - Not an ignorant statement. There is an unspoken reason why a majority of our citizens do not understand what is happening to them, which is the very people these pundits are fawning all over themselves for are sucking us dry like parasites. Overall, the value of financial assets grew by $13.68 trillion in 2021, an 11.58% increase over 2020. That value increase is just over 66% of GDP for the year. When financial assets increase in value, it is not because of savvy investment planning. That increase represents a vacuum cleaner that is sucking wealth straight out of the paychecks, wallets, purses and bank accounts of the bottom 90% of households in the USA.
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Feng - Wow, brainwashed much? No, it is not me, it is you believing billionaire propaganda, and those billionaire parasites.
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We need the Green New Deal. We are going to pay anyway, there is no avoiding that reality. Do what we do now and just pay for cleanup, Hurricane Harvey and Irma are costing U.S. taxpayers at least 250 billion, just for those two storms. That money brings us back to zero, makes us whole but does nothing whatsoever to counter the next hurricane. This amounts to knocking .07 percent out of the economy, just for the cleanup. This is not accounting for other effects, like loss of business. Those two storms cost us the equivalent of one third of our annual military budget, and that is just accounting for two hurricanes . . . not the fires or the flooding. We can easily afford two trillion dollars to make long term capital investment in the Green New Deal. Not to do so is short sighted and frankly . . . stupid.
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Well stated. After the 1971 Powell Memo, business leaders sought to take over all establishments in the United States, education, government and media, to save us from socialism and communism. Look at how they have ruined the economy for the majority over the past forty years, and with Covid-19 they have shown us with stark clarity that the market will never prepare for anything that does not involve a profit.
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@adamt1828 - The first step in what you describe is awareness of the tax code. I shepherded my daughters through their education through college, and nowhere in the curriculum was there any mandatory courses which concerned themselves with the tax code. This is not a mistake or an oversight, which means that the wealthy want an ignorant population. Furthermore, modern "asset investment" is a Ponzi scheme which relies on theft of wages and wealth in order to grow. To participate in "accumulating more wealth" is to steal from your fellow citizens, why do you think homelessness and property crimes has become such an issue? Really now, what you are really saying while trying to be educational, is that you support a system designed by the wealthy, that is the sole cause of so many of our current social ills. Still feel good about it?
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@adamt1828 - How can I take you seriously when the first thing you write is that "the government" wants to keep people poor? That is an oligarch talking point, pure distilled propaganda. The federal; government at the level of the Senate, the House of Representatives, the Executive branch, all of the Cabinet posts and all the agencies that report to the executive are owned by the wealthy. Case in point: Biden was selected, not elected, because the elites could not allow Bernie Sanders to become President (they made a winner out of a clear loser). Our local District 10 representative's campaign was paid for by maximum individual donations, i.e., the top 1%. No one else could get close because of the campaign money gap. This recipe is repeated through every district and with very few exceptions, the moneyed candidate always wins. Every Senator with the exception of Sanders and Whitehouse are bought and paid for by moneyed interests, not selected democratically. As for my "unsound theory", it is born out by research. Our economic system is akin to religion, having little to do with any sound scientific principles. Case in point: name one thing in the natural world, living or not, that is capable of infinite growth without entropy. Just one. The free market is a myth. Rugged individualism is a myth. Just because you bought a bill of goods, that greed is good and theft is the order of the day, does not mean that rational people must also believe that garbage. Freedom is a myth. You my friend, are fully indoctrinated, doctrine being the key word here (noun: a belief or set of beliefs held and taught by a Church, political party, or other group).
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@adamt1828 - I can applaud your decisions and efforts. However, your financial literacy is faltering when you claim that investing is not a ponzi scheme. Do you know the difference between industrial capitalism and financialized capitalism? The former is a necessary for a productive economy, while the latter is a ponzi scheme. You did not entirely "earn" that 100k in net assets, a portion of it was stolen from renters and workers all across this country. That is the way the financialized economy works, by "investing" you have become an accomplice to wage and wealth theft.
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@adamt1828 - Care to reconsider your answer? Why only the back woods and Alaska wilderness? Wandering freely denotes not being restricted to back woods or the wilderness of a detached state. You have not actually answered my question, because it had two parts. "Is it possible in this day and age for an American to wander freely, go where one will and live off the land as our ancestors did?" "Or, do we rely on a human built economy to survive?"
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@adamt1828 - They have a choice? Really? Your examples are false. How many workers today have the "choice" to own a home over renting? Really now, how many? And of those who cannot own a home, why not? Do people really have a choice to work for a company or to work for themselves? No. Because what you are expressing is a "right" to rent or own, not a choice. What you are expressing is a "right" to work for a company or to start their own. There are no such rights, therefor that "choice" you are talking about does not really exist. Care to rethink your reply?
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@adamt1828 - So, if I can live anywhere and live off the land . . . poppycock. The land is partitioned into private parcels, so I can't live just anywhere while gaining sustenance and shelter from the land. This entire country is parceled up, so if half of the population wanted to live off the land, could they? After all, that is their choice, right?
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@Mrbfgray - Is there a reading comprehension problem here? You did not answer the questions, but you did offer "smart and tough enough". What about someone with asthma? Or a child? There are people who are homeless now and that is considered a problem by most, but they are living off the land and in most places that is illegal. Why? And how about answering my questions in good faith: "Tell me something. Is it possible in this day and age for an American to wander freely, go where one will and live off the land as our ancestors did? Or, do we rely on a human built economy to survive?"
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@adamt1828 - The point is being missed by a wide margin, perhaps intentionally. The answer is no. It is not possible in this day and age for an American to wander freely, go where one will and live off the land as our ancestors did. To wander freely. This is not possible due to partitioning. Wandering freely will bring an American into direct conflict with private property owners. The second answer is yes, we rely on a human built economy to survive. The problem with both partitioning and the need for a human built economy for survival, lies in how both the partitioning and the economy are organized. Mr. McGillacutty brought up compounding, which is a mathematical process, not an economic process. All economic processes grow, then level off, then taper down. By imposing an unnatural formula to our economy, one of infinite growth through compounding, most people will be bound into debt peonage. Both yourself and Mr. McGillacutty have chosen to ignore this detail, however math does not lie. The sum total of financial assets are growing exponentially, at a faster pace than our GDP, and currently have five times the mass of our GDP. The inevitable result is fewer and fewer people owning all capital assets. Everyone else gets lifelong debt. Just because a few people escape this does not change the aggregated result. This is not an economy that can support a society, the numbers don't lie. Financial asset gains equaled 49% of GDP on 2020, and 66% of GDP in 2021. It will be 88% of GDP in 2022. Once the annual growth of financial assets reaches over 100% of GDP, everything you claim is possible now, will be impossible from that point forward.
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@se6586 - Focusing on the straw man? The 61% who don't pay taxes are dwarfed by the trillions in unpaid taxes the wealthy and corporations should owe, but somehow don't. There is an unspoken reason why a majority of our citizens do not understand what is happening to them, which is the very people these pundits are fawning all over themselves for are sucking us dry like parasites. Overall, the value of financial assets grew by $13.68 trillion in 2021, an 11.58% increase over 2020. That value increase is just over 66% of GDP for the year. When financial assets increase in value, it is not because of savvy investment planning. That increase represents a vacuum cleaner that is sucking wealth straight out of the paychecks, wallets, purses and bank accounts of the bottom 90% of households in the USA.
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Kevin is annoying, and either an idiot or a propagandist. There is an unspoken reason why a majority of our citizens do not understand what is happening to them, which is the very people these pundits are fawning all over themselves for are sucking us dry like parasites. Overall, the value of financial assets grew by $13.68 trillion in 2021, an 11.58% increase over 2020. That value increase is just over 66% of GDP for the year. When financial assets increase in value, it is not because of savvy investment planning. That increase represents a vacuum cleaner that is sucking wealth straight out of the paychecks, wallets, purses and bank accounts of the bottom 90% of households in the USA.
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John - If this was not so sad, reading the two of you would have been hilarious. Democrat or republican, it makes no difference because neither political party has any say about how the economy is run. What you two are doing is bickering while walking the plank in a fog. What you really should have looked for while you had time, is who is at the controls of the fog machine.
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John - "Lol, you don't know what is going on." You must have been standing in front of a mirror looking at yourself when you wrote that.
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John - You are no expert. The naivete you have demonstrated here attests to that.
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Talks of Stuff - Right . . . . so we do nothing. The problem with people who link to one newspaper article on a subject, is that you are pushing aside over 20,000 climate scientist reports linking human activity to climate change. Then there are the tens of thousands of geologists who have taken core samples all over the world and proved that catastrophic climate change in the past has lead to massive extinction events. Because it is not volcanoes this time, the pattern shows past a 99% indication that humans are the cause. With all of the evidence against the naysayers, it does not matter if it is 90 trillion or 900 trillion. We must change our entire way of life or we will simply go extinct like major life has every other time the climate goes out of whack. I don't care about the the U.S. economy. I'm a baby boomer and the economy has not done shit for me. So all those wealthy people and rich corporations can shrivel up and die for all I care, but you are not killing my grandchildren because of your farcical belief shortcomings.
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Hexotic Ace - I looked up your challenge and found that what you have written is a farce. List after list of websites and media outlets which refute the John Cook data are all right wing organizations. I never heard of John Cook before today, I was referring to the U.N. report of which over 23,000 scientists have found consensus regarding anthropogenic climate change. You are another one of the cult of climate deniers. Go stick your head under a pillow,
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@weez489 - Cannot really disagree with that assessment.
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@Mrbfgray - What a load of BS, through and through. Oligarch propaganda, all of it.
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@Mrbfgray - Tell me something. Is it possible in this day and age for an American to wander freely, go where one will and live off the land as our ancestors did? Or, do we rely on a human built economy to survive?
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@yellowpanda3972 - Innovators are maybe one out of one hundred. Those that can survive after butting heads with barriers to entry, maybe one out of one thousand (more likely one out of ten thousand). Innovation is not the answer you think it is, most of the barriers to entry these days are economic rents, which just keep growing at about the same pace as financial assets. Innovation does not help the average worker overcome economic rents either.
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@Juan-dc6yf - "Basic needs has turned into a cali home, yearly new iPhone, newest cars with the best tech and leather seats." How does one respond to blatant lies like this? Propaganda, paid for by the filthy, morbidly wealthy. Reality is not anything like that portrayal.
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You people simply don't get it. We are going to pay, there is no avoiding that reality. Do what we do now, Hurricane Harvey and Irma are costing U.S. taxpayers at least 250 billion, just for those two storms. That money brings us back to zero, makes us whole but does nothing whatsoever to counter the next hurricane. This amounts to knocking .07 percent out of the economy, just for the cleanup. This is not accounting for other effects, like loss of business. We can easily afford two trillion dollars to make long term capital investment in the Green New Deal. Not to do so is short sighted and frankly . . . stupid.
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Ian Alan - No. We humans have spent over 100 years filling the air with excess CO2. The oceans have been absorbing that excess CO2 and have reached the limit of their absorption capability. This in turn has caused ocean acidity which destabilized ocean life and a warming which is generating massive typhoons and hurricanes. If we stopped CO2 emissions today, massive hurricanes are still going to be generated for the next five hundred years, or until the oceans have a chance to cool. If we do nothing, hurricanes are going to grow beyond the scales we use to measure them within two decades. So will flooding and fires. Within ten decades, the earth will be 90% uninhabitable for humans and within two centuries, humans and all other larger life on this planet will be dead. That is one HELL of a legacy to leave to our great grandchildren . . . but wait, that generation will most likely never be born.
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Job creators my a*s, these people are sucking us dry like parasites. Overall, the value of financial assets grew by $13.68 trillion in 2021, an 11.58% increase over 2020. That value increase is just over 66% of GDP for the year. When financial assets increase in value, it is not because of savvy investment planning. That increase represents a vacuum cleaner that is sucking wealth straight out of the paychecks, wallets, purses and bank accounts of the bottom 90% of households in the USA.
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@User.9.459 - Not the planet I live on, that's for sure!
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After the 1971 Powell Memo, business leaders sought to take over all establishments in the United States, education, government and media, to save us from socialism and communism. Look at how they have ruined the economy for the majority of citizens over the past forty years, and with Covid-19 they have shown us with stark clarity that the market will never prepare for anything that does not involve a profit.
1
Overall, the value of financial assets grew by $13.68 trillion in 2021, an 11.58% increase over 2020. That value increase is just over 66% of GDP for the year. When financial assets increase in value, it is not because of savvy investment planning. That increase represents a vacuum cleaner that is sucking wealth straight out of the paychecks, wallets, purses and bank accounts of the bottom 90% of households in the USA. Job creators my a*s, these people are sucking us dry like parasites.
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You already have socialism. Just do some basic math. There is $100 trillion in privately held financial assets in the USA, getting an average return of five percent. The economy is one fifth that size growing by 2.6% annually over 30 years. The economy alone cannot pay $5 trillion for the rate of return on those financial assets, so the government pays what the economy cannot. In the percentile of net worth, the top 10% of income earners get 75% of all capital gains, so this means the wealthy get $3.75 trillion in free money yearly with a great portion of that paid by the government. The wealthy own the government and they reap the benefits, all the while filling your head with propaganda to obscure their theft. Don't believe me? Look up the total sum of privately owned financial assets for 2019, look up the rates of returns for treasury bonds and S&P 500 index funds, do some averaging and then try to figure out where the money actually comes from to pay all those capital gains from the rates of returns on financial assets. The stimulus was in the main, paid to the wealthy and the Federal Reserve is currently propping up the stock market to preserve the gains of the wealthy. We the American people have been conned and there is no other way to look at it once you run the numbers. You are correct, this is not Venezuela, it is far, far, worse.
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@JTDyer21 - I see that you totally ignored the relevant issues and focused on the propaganda instead. The real problem that we have is that people like yourself are perfectly content to swallow propaganda and side with your own enemies, allowing your own self interest to be sidelined and subverted. Whats the matter, you cannot do sixth grade math and a little bit of research? The regulations protect you, but you would rather have the wealthy make their own rules which hurt both of us. Really damn smart of you.
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