Treasury Secretary Scott Bessent says Americans looking to retire aren’t concerned about day-to-day markets, dismisses concerns about a potential recession
Treasury Secretary Scott Bessent says Americans looking to retire aren’t concerned about day-to-day markets, dismisses concerns about a potential recession
So, if the market goes down >16% [1], no biggie?
The fucking balls on this guy.
[1] And the futures are down nearly another 6% on the S&P as I sit here....
Japan triggered circuit breaker for stock futures trading.
You're not looking to retire.
Right what would a person planning on retiring this week need any of that money for. It's not like they need it to pay for rent or mortgage, or groceries, or anything like that. Fucking cruel bastard.
I mean, the closer you are to retirement, the more heavily your investment mix should favor low risk assets like bonds, rather than high risk assets like stocks. So I can kind of see what he's saying... It's just pretty fucking tone deaf.
Dow Jones has gained 60% over past 5 years. Over the past 10 years it has more than doubled. Over the last year it is down 1.5%
Anyone who has kept investing for his retirement in US stocks/ETFs has a very comfy situation.
Americans are watching their 401k become 401 in real time but sure, they're not concerned about it. 👍
Marie Antoinette sounds like a paragon of compassion right about now
Fun fact: historians think she never actually said the famous line attributed to her ("let them eat cake"), which was supposedly evidence used to show her indifference to economic troubles in France at the time. It's believed that the line was crafted to feed anti-nobility sentiment among the working class that ultimately led to the French Revolution. (Here's a source, but there's many put there)
It's a good thing that we've progressed to the point that nobody uses false information to drive political narratives anymore. /s
I also read that there is a translation issue with the word cake. It was originally reported as saying "brioche," not cake. Brioche is a type of bread, not a cake like we think of. It is still indicative of a lack of awareness, since the line was uttered in response to poor people not being able to afford bread and she suggested brioche instead, as if there is much difference.
Thanks for digging that up! I’m aware it wasn’t actually her, so I intentionally didn’t use the quote, but that probably still perpetuates the quote a bit anyway if you had not posted the correction
Another rich entitled prick who claims to know what the average American thinks.
If this peckerhead really knew what we were thinking, he'd buy a remote island and hide there.
That reminds me, i have to sharpen my guillotine.
Don't sharpen. Make the blade duller and heavier. Brute force still works.
Yeah, I've considered that, but a sharper blade will get through more necks, faster. After all the nonsense of this administration, I want efficiency.
Besides, it will dull quick enough getting through those cervical vertebrae.
Brass engraving futures on the rise.
I'm not worried about day-to-day markets. That's not what's going on here.
"Day to day markets" that have consistently declined for months now.
watched this absolute disaster of an interview. mf'r looks terrified of the sound of hammers swinging nails into gallows.
...but at least he's happy about the market infrastructure holding up as people panic sell their lives in record trade volumes. oh, christ!
Recession? Lol 😂
More like the greatest depression the likes of which have never been seen
And fucking self inflicted.
So was the depths of the great depression. And it was self inflicted by tarriffs in an attempt to fix the deficit.
History sure as hell rhymes.
The problem isn’t people looking to retire, it’s people currently trying to live off their investment income who suddenly only have enough capital to live for 17 years less than they had planned.
Or, for people who had invested for their kid’s education, who now find that there isn’t enough money left to pay tuition in September.
That's true. I'm more concerned about the seven months' worth of growth that was just wiped out in less than a week. And it'll continue dropping this week.
The smug look on this motherfucker.
It's almost like a shit-eating grin, like "is anyone really buying this bullshit?" kind of look.
Others I see wearing it are people like Jesse Watters and Benny Johnson....
Hoping to retire in 3-6 years. Incredibly concerned!
Honestly, I'd be starting a low-effort side hustle now, to supplement your retirement. Living 100% off money they control is not a safe plan. You need a backup plan they can't take.
Who needs money? There's not going to be anything to buy in the shops anyway!
Keep shovelling shit dumb ass. There's gonna be a chapter in the history books about you cunts.
Don't worry everyone. This fuckin' guy gots it. Nothing to see here, please disperse
UK was ahead of its time with Brexit and Liz Truss/Kwasi Kwarteng. Economic suicide is all the rage now.
Lmfaooooooooo what a fucking dipshit
Yes the fuck I do.
Дефолта не будет, твердо и четко.
These people pretend to be out of touch.
They just don’t care.
They’re buying time to steal as much as they can for as long as they can.
What do they care about though? This seems deliberate, right? Who's benefiting from economic collapse? Things you should be asking.
You can make money betting the market will go down.
It's entirely likely these ghouls have bet hard on the downturn they have created. They knew exactly when it would happe and how extreme it was going to be. Keeping it going down just makes them money.
Youll see when they start buying all the low low stocks then reverse their tariffs to stabilize the system.
Op literally answered those questions in the post you're replying to.
The working class and middle class will continue to work and provide value to investors, because they have to. No work means no food, no home, so people will continue to work and investors will still have that value coming from the working and middle class. Their lives will suck, but that's not a rich person problem. Ideally, for the rich, the working class and middle class will sell off their assets at fire sale prices so that they can survive and the rich will get valuable assets on steep discounts. Homes that foreclose will be bought up and renters will be put in them and the return for investors will be incredible.
Recessions are when rich people get much wealthier in a short period of time. This is deliberate and the rich will be using their money to "invest" while the working and middle class produce more value for investors at their jobs and sell their assets to the investors.
There is no such thing as a recession being bad for the wealthy. The only thing bad for the wealthy is taxes and regulations. Even if their net worth drops, it only drops on paper temporarily and as long as they don't sell while the value is down it's like it never happened. If it ever gets really bad that's when companies are then deemed "too big to fail" and the government bails them out.
It's intentional and they're all excited about the recession.
Putin. Its always Putin, using Skum and HitlerPig as his muscle.
When will people truly internalize that the two biggest foreign Sociopathic Oligarchs, have partnered up with the most prolific traitor in American history? None of them have any loyalty or patriotism toward America, and only see us as a big, rich, fat, lazy target to be ruthlessly exploited and looted, and it's happening in real time before our eyes.
How much could an egg cost, Michael? Ten dollars?