Gary Varvel for June 12, 2022

Isn’t neat, elect a Democrat and watch your retirement savings drop like Biden’s approval ratings. Senior Americans can’t afford another Democrat.

Liberals say that Biden “gave so much to the people” with the stimulus money. Yet they fail to realize that Biden policies have already taken away that stimulus money from the people in the form of inflation. The worst of it is hitting families with savings and people with 401k’s.

Meanwhile corporate profits and CEO payrolls are at record levels.

These arguments by those on the right who claim to support free markets are not economically based and are almost laughable. Most agree that the current inflationary uptick is related to oil prices. 1) Oil companies/producers are in business to make money. You can’t force them to produce. 2) Oil is a worldwide commodity. Although a constant argument is made that this is the result of Biden’s environmental policies, any uptick in our production can easily be offset by reductions by other producers. 3) DEMAND for oil is up in the US. DEMAND less, the prices will go down (this is Economics 101). 4) If you have a long term loan (house, car, etc.) and recently received a raise (wages ARE up!!!), you are now paying back your loan with less valuable $$$. You’re AHEAD. 5) The cartoonist’s point about “nest eggs being poached” is beyond ignorant. If you are fortunate enough to have a retirement plan that INVESTS, you are GAINING wealth if your fund managers have invested in oil companies. The people really hurt by this are those who do not have the good fortune to have that “nest egg”.

This IS what a free market does.

Bet a doughnut though that it (your nest egg) is still worth more than what you put into it. Sure we all complain when we lose money, but the last ~20 odd years have been pretty good for investors. I have been retired now 8 years but my portfolio is worth more today than the day I retired.

A little FYI: The last all-time high of the Dow was on 1/5/2022 at 36,952.65. The close as of 6/10/2022 was 31,392.79. This represents a loss of 5,559.86 – in 5 months.

^^ Fox talking point #2

Too true to be funny! Inflation is draining savings accounts at the rate of 8.5% per year while interest on savings is essentially nil. It’s a horrendous double whammy for those of us who diligently saved all those years to see the fruits of a lifetime vanishing into thin air. Meanwhile the Fed raised the prime rate by a meaningless .5% which is like using a spray bottle to put out a house fire.

Thanks Biden.

Earn more.

You should have worked harder.

Thanks for nothing, Democrats. Our sad economy in 100% your fault.

Pull yourself by your bootstraps.

“Nest egg”? Just wait until he nationalizes your 401k!

FJB LGB

$106 to fill my gas tank!

FJB LGB

Or leaders who don’t know it’s happening and tell us that we have a robust economy and want to spend more money that isn’t there.

That’s the whole idea…. Let the little people get some wealth through investments, pump it up, and then drain them dry.

Ain’t that the truth! Thanks Joe and company!

If the Confederacy was so bad, then why is today’s government emulating it by printing up paper money willy-nilly?