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Teamsters endorse Joe Biden??
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<blockquote data-quote="freehoodies" data-source="post: 4592532" data-attributes="member: 80887"><p>Lets ignore the other hallmarks of the obama economy, like being upside down on your mortgage. Or having your hours cut from 40 a week to 32. And losing your health coverage because of that. And having to now pay over 400$ a month for coverage that used to cost 100$. Or your kids college costs tripling and they cant get a job with the degree so they stay living with you till they are 26.</p><p></p><p>Lets keep it simple</p><p></p><p>Take the most common scenario. Regular guy/gal putting money into their 401k every year because employer matches.</p><p></p><p>Obama becomes president. Your portfolio value drops by a third in a year. If you were close to retirement, you now have to put that off.</p><p></p><p>You keep putting money into your 401k, and keep working. It takes you almost 5 years to get back to where your portfolio was in 2008.</p><p>(A little less than 5 because the money you've invested since the crash grew faster because it was invested near the bottom)</p><p></p><p>At the end of the presidency, 8 years later, your portfolio has barely kept up with inflation, compared to just stuffing the cash under your mattress.</p><p></p><p>Compare that to the last four years. Every year your portfolio reaches a new record high.</p><p></p><p>You can retire earlier now, not have to put it off until it recovers.</p><p></p><p>Even with the record highs, if you keep investing it keeps hitting new record highs. The only temporary hiccup is a global economic shutdown that the experts all said would take decades to undo the damage. 5 months later a new record high.</p></blockquote><p></p>
[QUOTE="freehoodies, post: 4592532, member: 80887"] Lets ignore the other hallmarks of the obama economy, like being upside down on your mortgage. Or having your hours cut from 40 a week to 32. And losing your health coverage because of that. And having to now pay over 400$ a month for coverage that used to cost 100$. Or your kids college costs tripling and they cant get a job with the degree so they stay living with you till they are 26. Lets keep it simple Take the most common scenario. Regular guy/gal putting money into their 401k every year because employer matches. Obama becomes president. Your portfolio value drops by a third in a year. If you were close to retirement, you now have to put that off. You keep putting money into your 401k, and keep working. It takes you almost 5 years to get back to where your portfolio was in 2008. (A little less than 5 because the money you've invested since the crash grew faster because it was invested near the bottom) At the end of the presidency, 8 years later, your portfolio has barely kept up with inflation, compared to just stuffing the cash under your mattress. Compare that to the last four years. Every year your portfolio reaches a new record high. You can retire earlier now, not have to put it off until it recovers. Even with the record highs, if you keep investing it keeps hitting new record highs. The only temporary hiccup is a global economic shutdown that the experts all said would take decades to undo the damage. 5 months later a new record high. [/QUOTE]
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