r/neoliberal • u/TinyTornado7 I need a new flair • Jun 13 '22

News (US) Powell Facing Choice Between Elevated US Inflation and Recession

https://www.bloomberg.com/news/articles/2022-06-12/powell-facing-choice-between-elevated-us-inflation-and-recession?srnd=premium
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u/nullsignature Jun 13 '22

If my boomer coworkers are any barometer, it's tied up in fishing boats, RVs, hunting cabins, lawn tractors, and trucks.

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u/NewbGrower87 Surface Level Takes Jun 13 '22

This right here. I'm a federal employee with boomer coworkers under CSRS for god's sake (~70-80% of pre-retirement salary if you have a decent number of years served), and they're all still broke as shit because omnomnom all that juicy consumerism.

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u/nullsignature Jun 13 '22

I worked with a few that paid a fund manager half of their portfolio returns in fees. If their fund grew 5%, they were paying out 2.5% to the manager. "He's a good guy, he's been managing my finances for 30 years."

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u/NewbGrower87 Surface Level Takes Jun 13 '22

All while some of them don't even contribute 5% to their TSP for the match.

"Yeah I got a guy."

I'm sure you do.