Kirk's Market Thoughts Message Board

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Non-Tech : Kirk's Market Thoughts

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Nov 7 9:30 AM EST

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kimberley

Lee Lichterman III

Sun Tzu

To: kimberley who wrote (9422)	4/23/2020 12:06:56 PM
From: Kirk ©	3 Recommendations Read Replies (2) of 26440

I'm not really upset these low wage workers get more money being unemployed if it keeps them safe at home and helps get us through this downturn quicker. What would make me upset is if the government spends a TON of MY MONEY on this program then caves to pressure that would make it worse and cost me even more. How is it MY money? Consider I was getting about 2% on my fixed income before this and now it is about half a percent.... Lets say you were retired with $1.5M in stocks and 1.0M in fixed income perhaps safely in money market funds at your broker making about 2% (it was as high as 2.5% before the latest round of Fed rate cuts.) So for every $1M earning 2% that now gets 0.5%, that is 1.5%x$1M=$15,000 a year. Consider your dividend stocks took a hit AND your index funds are down too... the cost for our country to not have been prepared for this like Taiwan was (or CA was when Arnold was our Governator) is huge. BTW, the 10-year US Treasury was paying a good return and now pays about 0.6%! Talk about screwing savers to raise funds! The very wealthy with a lot in low yield muni bonds and US Treasuries get even less interest. Don't kid yourself, savers are paying for this and the value of our saved dollars are being hugely diluted with low rates and massive QE to pay people not to work. Again, if it saves lives and makes it so these people have the same jobs to come back to, I'm OK with it as you can't get the bum outside of Sprouts this AM with a cat face mask on asking for money to "buy a mask" to pay for it. I know as soon as he got some he'd go inside and buy beer or fortified win as I avoided him while he was still "sleeping" by some shopping carts on one side of the store when I went in. 31 years sober so I know better to offer him the suggestion of a meeting or the food pantry I donate to... so I shake my head no and pass on... maybe I'll write another check to charity today instead. Anyway, that is water/money under the bridge but I sure hate for it to be pissed away by people listening to that silly mayor from Vegas who looked like she needed a smoke and vodka as soon as she was done with her Anderson Cooper interview!

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