I find it hard to get excited by the prospect of so much misery for so many people, especially because misery breeds misery. I mean, that’s why you guys have Trump in the big seat right now
But in terms of stocks, it makes sense if you play the long game well.
I prefer to let go of what I can't control and embrace what I can (which sounds easy and obvious, but it's a relatively new application for me. I used to worry too much).
Being in Canada, north of my U.S. cousins also helps a little with stepping back and seeing the entire painting. I see a lot of protesting going around about capitalism, income and wealth inequality, etc (and we have our fair share of that in Canada too). What I see in the media vs what I see in reality are two different things. The majority just want to keep up with the Joneses, and consumerism exists in excess. People worry about their jobs, how their going to keep food on the table, that their being taken advantage of by the wealthy, etc, but here's the reality:
1) Well over 80% of vehicle purchases in the US are financed. Excuses: "Well if they have a secure job and not much debt, then why not?" ok then what about #2
2) 60% of Americans have less than $1000 in savings, and a large number of those have no savings at all.
3) The number 1, 2 and 3 selling vehicle in the US (and North America actually) is Full sized Ford Pickup, Full sized Chevy Pickup, Full sized Dodge pickup. That's right, the 3 most purchased vehicle are not even cars.
How many people actually need a truck?
- For work? Some yes, most no.
- For towing a trailer? Really you bought a trailer (maybe a boat too?) and a truck and then you complain about not making enough money?
- You like trucks? Excellent! Now stop complaining that gas is expensive after you decided you want to commute to work 2 hours a day in a full sized truck, and that life is financially hard because you wanted a vehicle that could carry your neighbors couch once a year.
I'm using vehicle purchase as an example, because aside from housing and schooling, it's the biggest purchase people make, and most people take less than 30 minutes to make that financial decision. But really it all says the same thing: People think their entitled to have everything they want, so they go into debt to get them. They want instant gratification. They're perfectly fine with buy a vehicle well above what they need, when they don't even have 4 (or even 3) digits worth of savings...
- I can't afford a vehicle! Stop financing something you can't afford. Buy used.
- Used isn't reliable! Used is very reliable if you buy a reliable used vehicle! (pre-purchase inspections are an actual thing, people)
- I work hard and deserve something nice! Spending an extra 20k every few years on a car so you can sit on a dead cow is your idea of something nice? Cmon, wake up and take a vacation (or 5) and/or put that in an index fund to retire early.
- I barely earn 30k a year! If you're earning 30k a year in a professional field, then get another job. You can earn more than that in a non-professional field. You can go take a trade RIGHT NOW and earn that much just as an apprentice, then be earning more than twice that in 4 years.
- But I love my job! Well great! But you can't have your cake and eat it too! If you love your job and don't make much money, you've personally chosen to do something you love, over making money, when making money is clearly an option!
- But my cost of living is super high! Then MOVE! There's plenty of cities ALL over the country that have lower costs of living and better wages!
- But I have a sick grandma that cannot be moved and I have a rare disease that costs me thousands in medical bills that I can't afford, and my x is suing me for millions and won't pay child support! In most cases this is greatly exaggerated, but if all of this is legit, then yes you are in the rare fraction of a percentage of people who genuinely need help, and can't use the thousands of financial aid programs out there to help you, then you finally have cause to give voice. But you are a minority, and the lack of funds that aid people in your position are being leeched from the majority who are lazy and a drain on society.
Again we have our fair share of it here in Canada too. Minimum wage is going to moved to $15/h, and the big controversy is that Tim Hortons will no longer offer paid breaks, and only partially cover the cost of their extended benefits... That's right... the absolute lowest paid full time employees in the province will make over 30k a year... and people are complaining...
TLDR: People complain about hard financial times, when most of the time, it's not really a problem. They just don't like the answers.