Letter to the Editor: Inflation and your Investments

Editor:

As of last Friday's close I have lost $28,369.98 from the high of Jan 4, 2022 on my Schwab account (basically a 17.70% loss in just 10 months). Technically this is an unrealized loss as I have not sold all of my Schwab investments. But the more important losses are to my IRA accout that I rely on for most of my retirement income.

I was recently ridiculed by stating that my order of McDonald's french fries - small order - increased by 15.84%. (opinion pieces published in Vinton Today web letter) They failed to understand that the published inflation rate of 8.3% or so is vastly understated. The cause of this inflation made the case by Biden and company is the Covid pandemic and President Trump's policies. They point fingers, but take no responsibility for their incompetence. As Tomas Sowell pointed out in his book - The Housing Boom and Bust - "Social crusaders never take responsibility for the chaos they cause".

Those of us on Social Security will see an 8.3% rise in our checks next January. But to offset that increase we can count on an increase in our Part A and B insurance deducted from these checks. I received notice that my Supplemental Wellmark insurance would increase $83.40 monthly for Sharon and I. That is $1000.80 yearly. I suspect we will also receive notice that our Part D (drug plan) Blue Cross Rx will also increase. President Biden is selling his inflation reduction bill - stating health insurance would decrease and drug cost would decrease. I just think he is trying to fool us or maybe he is just in the habit of lying about these things. In any case I see no relief to further increases in consumer costs as long as Democrats control Congress and the Executive branches.

It is ironic that Europe is responding to the shortage of winter heating fuels by opening up their closed coal fired energy plants. They are facing a real danger that their citizens will not be able to afford their heating or grocery, and housing bills this winter. Certainly no government would wish their people to freeze to death over winter. Their shortsightedness and ours should be a lesson in how not to progress so quickly to non hydrocarbon based economies. If solar and wind and electric powered vehicles are so great why is our government supplementing these providers and manufacturers? The answer; they can't survive without government assistance.

I have no confidence that the present administration can solve these inflationary problems. It is going to take a new look, I don't believe that new look can come from Congressional or Executive Democrats. That party used to be for the working man/woman, but no more - that ended when John Kennedy was assassinated. They are now aligned with the powerful multi millionaire elites - Soros, the Tech elites and those of this ilk.

Is there hope that our economic ship can be righted? I am not hopeful with present Democrats in charge. Way to go Joe, remember November

Regards,

John Stiegelmeyer

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SJW October 25, 2022, 11:23 am Thank you Norma, for your comments. You are 100% on the mark. Those feeble men think they need to mansplain everything to us. Vote Blue! (Except for county attorney of course.) That corrupt poser needs to go!!

NG October 23, 2022, 10:30 pm Gerald https://www.washingtonpost.com/politics/2022/10/18/mccarthy-gop-medicare-social-security/ McCarthy said Quote:“You can’t just continue down the path to keep spending and adding to the debt. He forgot to add "Except when republicans are in charge, then we will do as we please."

DC October 23, 2022, 8:45 am Someone's been watching the view. Later Dave

GB October 23, 2022, 8:28 am Norma- more fake news.

NG October 23, 2022, 12:37 am I read what John said, did you? Yes he talked about investments and then he talked about social security and medicare. What is wrong with you? Does it make you look like a big and important man if you could make me look stupid? What do you have against women? You better get over it. I KNOW EXACTLY WHAT JOHN WAS TALKING ABOUT. You must not comprehend what you read. Do you realize Gerald that the republicans in D.C. are threatening to crash the economy if President Biden doesn't agree to cut social security and medicare if they should win back the House and Senate? Now tell me, is that what you want them to do. Then John could really cry about his investments. Boy don't you love those republicans and their hair brained ideas. Are you paying attention to anything your party is planning on doing to this country? Norma Gould

GB October 22, 2022, 10:57 am Norma, I do not believe John is talking about Social Security. He is talking about actual investments. Again, you can't put square blocks in round holes.. Kind Regards.

NG October 21, 2022, 7:38 pm John, you need to have a little patience when it comes to the bills that have just been signed into law. Some things don't take affect until next year. You need to watch something other than Fox because they are not giving you the information you need. Instead of whining about that you should be thinking about what this country will be like with no democracy. When the republicans crash our economy by holding this country hostage because they want to cut social security and medicare do you wonder how you will pay your bills then? That's what you should be thinking about. Norma Gould

RB October 21, 2022, 3:06 pm BTW John, the market was up over 1000 points since the last time you bitched about Biden and the market. Does Biden get credit for that? lol

RB October 21, 2022, 3:04 pm The market is known for it's ups and downs. Look back 10 years and then average. Mine is still 10%+. it took much longer to recover from Bush 2 when he nearly led the economy into collapse. If you look historically the market has done better under Democrats. Hoover to Roosevelt, Bush to Clinton, Bush to Obama. The top 1% will certainly do better under Republicans.

NG October 21, 2022, 2:45 pm John, sorry you are having problems with your investments. Mine are doing fine. I lost over half of my retirement because of W. Bush. Did you blame W then or was he excused because he was a republican? We will receive an 8.7% increase in Jan. and Part B will decrease by $5.20. Medicare Part A inpatient deductible will increase by less than 5 percent. Just remember if republicans take over the house and senate in November they want to cut benefits to social security and medicare. The Republican plan is to force a choice between economic ruin and cutting social security and medicare. They plan on holding our government hostage by refusing to vote to increase the debt ceiling unless they make the cuts. Sounds like blackmail to me. Is that what you are voting for? Leader McCarthy's Threat: Slash Medicare & Social Security or Tank the Economy. So things could get worse John. I just heard Katie Porter say corporate profits are the biggest driver of inflation. 54% of what we are paying goes to corporate profit. There goes those big corporations again with their greed. That is what you vote for John. And now big oil is cutting production so the price of gas will go back up. They are greedy. https://www.youtube.com/watch?v=30_H33mS76Y The Democrats are for the working people. Republicans have certainly proven that they are working for the republican party and the wealthy and big corporations like big oil. Check where the money is going, who is being bought. Sounds like Marge Green will be big in the republican house if everything goes as she plans. Now that is a scary thought. Norma Gould

Opinion : Letter to the Editor: Inflation and your Investments

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