More Americans are now 401k millionaires. Good Bless Bidenomics.

Joe Capitalist said:
More folks can retire as millionaires thanks to Bidenomics.

https://finance.yahoo.com/news/more-americans-are-now-401k-millionaires-123138990.html

The number of people with $1 million or more saved in their 401(k) accounts leapt 10% from April to the end of June, according to Fidelity Investments. There was also a 13% pop in millionaires with IRA accounts held at the firm during that same timeframe.

And it isn’t just newly minted millionaires who have something to crow about. For the third straight quarter, Fidelity reported retirement account balances increased for all savers. That’s according to the company’s second quarter analysis of savings account balances for more than 45 million IRA, 401(k), and 403(b) retirement accounts.

Numerous factors played a role in the gains, including the ability to stick to saving for the long haul to ensure security in their golden years.

“Overall, the increase in balances [for all investors] was based on ongoing employer and employee contributions, along with positive market performance.” Michael Shamrell, vice president for workplace thought leadership for Fidelity, told Yahoo Finance.

“The increase we are seeing in 401(k) millionaires this quarter [also] shows the value of long-term investing.”
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So, one month of positive returns makes up for two plus years of losses? I don't think so.
 
Joe Capitalist said:
Chew on this, pussy:

During a Fox Business interview, viewers were told the economy created more jobs under Trump than Biden.
That's not even close to being true.

When Donald Trump sat down with Fox Business’ Larry Kudlow yesterday, the former president had every reason to expect a friendly interview. After all, the host served as the director of the National Economic Council in Trump’s White House. The former president was directly responsible for hiring Kudlow.
But there’s a difference between a friendly interview and an interview in which key details are simply made up. From the Fox Business report:
According to the transcript, at one point the host told his guest, in apparent reference to President Joe Biden, “He says he’s created 13 million new jobs. Nobody can find it, OK, 2.1 million. You had 4.9 million.”
At that point, Trump said, “Right.”
But it wasn’t right.
When I say I don’t know where Kudlow’s numbers come from, I’m being quite literal. The Department of Labor’s Bureau of Labor Statistics is responsible for measuring job growth and the monthly unemployment rate, and there’s simply no resemblance between the publicly available BLS data and the numbers the Fox Business host presented to viewers on the air.
Reasonable people can disagree with what counts as the “first” month of a presidency — do we include the January in which a new president is inaugurated, or do we only include full months? — but for sake of convenience, let’s start the clock for Trump in January 2017, and for Biden, January 2021.
According to the Bureau of Labor Statistics, over the course of Trump’s first 30 months in the White House, which covers a period long before the Covid crisis, the U.S. economy created 5.39 million jobs — more than the 4.9 million Kudlow referenced during the interview. There’s nothing wrong with an economy that creates 5.39 million jobs in 30 months — it’s a perfectly respectable number — though it’s worth noting for context that in the last 30 months of Barack Obama’s presidency, the economy created 6.57 million jobs.
How does Trump explain the fact that job growth slowed after he took office? He’s never said, and as best as I can tell, he’s never been asked.
As for Biden, Kudlow said that the Democratic incumbent “says he’s created 13 million new jobs. Nobody can find it, OK, 2.1 million.” I’m not sure who “nobody” referred to, but everyone can go to the BLS website and see that in the first 30 months of Biden’s term, the economy created 13.68 million jobs.
(If we tweak the measurements, and start the clocks at February 2017 and February 2021, the totals are not significantly different: 5.24 million jobs across Trump's first 30 months, and 13.37 million for Biden.)
This data coincides with a new report, released today, that showed the unemployment rate across more than half the states at or below 3%. That includes record lows in 11 states.

You need to stop watching FoxNews. It's making you stupider.
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You never provide links, lazy cunt!
 
Joe Capitalist said:
The answer is: He only reads/watches far right wing media.
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Joe Capitalist said:
Why don't you tell us who you think won the 2020 presidential election, Serendipshit.

It would speak volumes about your cognitive deficiencies.
Or are you too much of a pussy like Gearl to answer.
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You appear to be a very troubled individual. Maybe best if you charge your car and go for a 100 mile ride to cool off. Leave the AC off so you can make it thatt far without searching for a working charging station.
 
Joe Capitalist said:
Why don't you tell us who you think won the 2020 presidential election, Serendipshit.

It would speak volumes about your cognitive deficiencies.
Or are you too much of a pussy like Gearl to answer.
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Why don't you tell us why you think your too fucking precious to follow the forum rules??
 
serendipity said:
Why don't you tell us why you think your too fucking precious to follow the forum rules??
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Are you too embarrassed to admit you think Trump won? I would be, too.

Most Americans don't believe it. But here you are, more that two years later and you're still swallowing Trump's load.

Pretty pathetic, don't you think Serendipshit?
 
Joe Capitalist said:
More folks can retire as millionaires thanks to Bidenomics.

https://finance.yahoo.com/news/more-americans-are-now-401k-millionaires-123138990.html

The number of people with $1 million or more saved in their 401(k) accounts leapt 10% from April to the end of June, according to Fidelity Investments. There was also a 13% pop in millionaires with IRA accounts held at the firm during that same timeframe.

And it isn’t just newly minted millionaires who have something to crow about. For the third straight quarter, Fidelity reported retirement account balances increased for all savers. That’s according to the company’s second quarter analysis of savings account balances for more than 45 million IRA, 401(k), and 403(b) retirement accounts.

Numerous factors played a role in the gains, including the ability to stick to saving for the long haul to ensure security in their golden years.

“Overall, the increase in balances [for all investors] was based on ongoing employer and employee contributions, along with positive market performance.” Michael Shamrell, vice president for workplace thought leadership for Fidelity, told Yahoo Finance.

“The increase we are seeing in 401(k) millionaires this quarter [also] shows the value of long-term investing.”
Click to expand...

You're beyond mere stupid.

Cash-strapped Americans are being forced to dip into their 401(k) retirement plan to make ends meet
https://finance.yahoo.com/news/cash...eing-forced-132429945.html?fr=sycsrp_catchall

Cash-strapped Americans are being forced to dip into their 401(k) retirement plan to make ends meet
https://fortune.com/2023/08/09/401k...ipping-into-retirement-fund-credit-card-debt/

Biden:
DOW January 20th 2021: 31,188.38
CURRENT: 34,411.19

Increase 3,222.81

Trump:
DOW January 20th, 2017: 19,827.25

Increase 11,361.13

I'll take the Trump years back any day over the failure of Bidenomics. Moron. :palm:
 
Joe Capitalist said:
The DJIA only contains 30 socks and isn't a good benchmark of the overall market, you silly fool.
Now go back and use the S&P 500 which uses 500 stocks and figure out the gain, you stupid MAGA moron.

Too bad you MAGA morons have to keep manipulating the facts to create your 'alternative' facts.

BTW Gearl, tell us who won the 2020 election so we know the degree of MAGA moronism were dealing with here.
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boy-meets-world-laughing.gif
 
It takes a special level of MORON to argue that today's economy is awesome. Ironic that leftists are ecstatic that millionaires are getting richer while everyone else gets poorer.

Yes people, Democrats really are THAT fucking dumb. :palm:
 
Joe Capitalist said:
Are you too embarrassed to admit you think Trump won? I would be, too.

Most Americans don't believe it. But here you are, more that two years later and you're still swallowing Trump's load.

Pretty pathetic, don't you think Serendipshit?
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You should be embarrassed admitting you voted for a corrupt, senile, pedophile like Joe Biden. But you would need a brain first. :laugh:
 
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