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GDP Down 4.8%

BSC911

Bull Gator
Apr 18, 2018
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America's economy just had the worst quarter since 2008

Updated 8:46 AM EDT April 29, 2020
New York

The US economy contracted for the first time in nearly six years between January and March, as the coronavirus crisis put the world in a choke hold.

America's first-quarter GDP fell at a 4.8% annualized rate, the US Bureau of Economic Analysis reported on Wednesday.

Horrible. And about to be worse in Q2. Please, only economic talk ITT.
 
I have the Seeking Alpha app on my phone, and saw this news alert about the drop in GDP about 30 minutes ago. I thought of the OP and assumed he would be posting this news in short order. I was right.

Over the weekend, I talked to my friend in Louisville who got let go a few weeks ago. He's still processing what's happening, and is now finally getting to start looking for work. He's turning 65 in about a week and needs to work till he's 70 if he can. To his credit, he knows with his age and the current economy his prospects are pretty slim, even though he's a good mechanical engineer. I feel really bad for him and others like him.
You can always count on me for up to date economic news.

Sorry about your friend. Lots are in that same boat.
 
The Dimms could feel much more comfortable if GDP contraction could be blamed on market activity. We have 4 months to open our economy which will likely see robust economic growth. The Dimms need to continue formulating plans for Coup Attempt III. Investigation of the "mishandling of the coronavirus" by an incompetent Trump. Coup Attempts I and II by Amerikan Pravda and the inept Dimms were miserable failures.
 
The Dimms could feel much more comfortable if GDP contraction could be blamed on market activity. We have 4 months to open our economy which will likely see robust economic growth. The Dimms need to continue formulating plans for Coup Attempt III. Investigation of the "mishandling of the coronavirus" by an incompetent Trump. Coup Attempts I and II by Amerikan Pravda and the inept Dimms were miserable failures.
We would have recovered much sooner had he been quicker to act when told of the potential danger.
 
America's economy just had the worst quarter since 2008

Updated 8:46 AM EDT April 29, 2020
New York

The US economy contracted for the first time in nearly six years between January and March, as the coronavirus crisis put the world in a choke hold.

America's first-quarter GDP fell at a 4.8% annualized rate, the US Bureau of Economic Analysis reported on Wednesday.

Horrible. And about to be worse in Q2. Please, only economic talk ITT.

Just to show that you're not really a Trump hater, but totally unbiased in your posting...o_O
Stock Market
Employment for all groups.
Unemployment for all groups.
Trade deals.
Consumer Confidence Rating

How about you list the economy before the pandemic caused the drops, not Trump.
(what I expect is crickets, or more highly biased yap-yap-yap) :rolleyes:
 
Just to show that you're not really a Trump hater, but totally unbiased in your posting...o_O
Stock Market
Employment for all groups.
Unemployment for all groups.
Trade deals.
Consumer Confidence Rating

How about you list the economy before the pandemic caused the drops, not Trump.
(what I expect is crickets, or more highly biased yap-yap-yap) :rolleyes:
I never said Trump caused the drops. But I certainly don’t give him credit for all of improvement either. Obama had as much, or greater gains in employment and the stock market. Look it up.

And LOL at trade deals. I’m still waiting for China to bend the knee like Trump promised.

PS. I never said I wasn’t a Trump hater. He’s a clown.
 
instaGATOR gets it. Analysis is the simplest component of critical thinking. intaGATOR has little use for assuming.
As usual, your and his analysis is lacking. Yet another fail.

It’s probably best you stay out of any economic discussion. You’re clueless.
 
I never said Trump caused the drops. But I certainly don’t give him credit for all of improvement either. Obama had as much, or greater gains in employment and the stock market. Look it up.

And LOL at trade deals. I’m still waiting for China to bend the knee like Trump promised.

PS. I never said I wasn’t a Trump hater. He’s a clown.

Claims with the usual, no listed facts and not even any links to any facts.

Show us what you really know about the Phase 1 Trade deal with China.
List the provisions and the changes made by Trump.
Then tell us what Joe and Hunter set up with China on their visit???
Unbiased = Both Sides of an issue --- which you never do. o_O

Obomba was an un-Constitutional hack that should have been impeached.
OBomba appointed Biden to be his point man on Ukraine corruption kick backs.
How did OBomba go into office in the upper middle class, and come out as a mulit-millionaire? He went from 1 house to 3 mansions... :cool:

There are clowns for sure, and you're the current board leader among the clueless clowns. o_O
 
How does the “Trump economy” compare to Barack Obama’s?

Consumer and business confidence surged after Trump’s election and has remained high, and manufacturing output (and jobs) also saw a noticeable jump in 2018 after Trump’s tax cut. There’s also been a drop in the number of Americans on food stamps.
Wage growth for American workers is around 3%.

The Dow 30 Industrial has risen over 10,000 points from 19,763 to 28,538, or just under 60% since Trump was elected.
The S & P has grown from 2,239 to 3,231.
==========

Before the Co-V interruptions occurred:

  • Almost 4 million jobs created since election.
  • More Americans are now employed than ever recorded before in our history.
  • We have created more than 400,000 manufacturing jobs since my election.
  • Manufacturing jobs growing at the fastest rate in more than THREE DECADES.
  • Economic growth last quarter hit 4.2 percent.
  • New unemployment claims recently hit a 49-year low.
  • Median household income has hit highest level ever recorded.
  • African-American unemployment has recently achieved the lowest rate ever recorded.
  • Hispanic-American unemployment is at the lowest rate ever recorded.
  • Asian-American unemployment recently achieved the lowest rate ever recorded.
  • Women’s unemployment recently reached the lowest rate in 65 years.
  • Youth unemployment has recently hit the lowest rate in nearly half a century.
  • Lowest unemployment rate ever recorded for Americans without a high school diploma. (but Dim-Mor-Rats will still claim only the rich benefited)
  • Under my Administration, veterans’ unemployment recently reached its lowest rate in nearly 20 years.
  • Almost 3.9 million Americans have been lifted off food stamps since the election.
  • The Pledge to America’s Workers has resulted in employers committing to train more than 4 million Americans. We are committed to VOCATIONAL education.
  • 95 percent of U.S. manufacturers are optimistic about the future—the highest ever.
  • Retail sales surged last month, up another 6 percent over last year.
  • Signed the biggest package of tax cuts and reforms in history. After tax cuts, over $300 billion poured back in to the U.S. in the first quarter alone.
  • As a result of our tax bill, small businesses will have the lowest top marginal tax rate in more than 80 years.

  • Helped win U.S. bid for the 2028 Summer Olympics in Los Angeles.
  • Helped win U.S.-Mexico-Canada’s united bid for 2026 World Cup.
  • Opened ANWR and approved Keystone XL and Dakota Access Pipelines.
  • Record number of regulations eliminated.
  • Enacted regulatory relief for community banks and credit unions.
  • Obamacare individual mandate penalty GONE.
  • My Administration is providing more affordable healthcare options for Americans through association health plans and short-term duration plans.
  • Last month, the FDA approved more affordable generic drugs than ever before in history. And thanks to our efforts, many drug companies are freezing or reversing planned price increases.
  • We reformed the Medicare program to stop hospitals from overcharging low-income seniors on their drugs—saving seniors hundreds of millions of dollars this year alone.
  • Signed Right-To-Try legislation.
  • Secured $6 billion in NEW funding to fight the opioid epidemic.
  • We have reduced high-dose opioid prescriptions by 16 percent during my first year in office.
  • Signed VA Choice Act and VA Accountability Act, expanded VA telehealth services, walk-in-clinics, and same-day urgent primary and mental health care.
  • Increased our coal exports by 60 percent; U.S. oil production recently reached all-time high.
  • United States is a net natural gas exporter for the first time since 1957.
  • Withdrew the United States from the job-killing Paris Climate Accord.
  • Cancelled the illegal, anti-coal, so-called Clean Power Plan.
  • Secured record $700 billion in military funding; $716 billion next year.
  • NATO allies are spending $69 billion more on defense since 2016.
  • Process has begun to make the Space Force the 6th branch of the Armed Forces.
  • Confirmed more circuit court judges than any other new administration.
  • Confirmed Supreme Court Justice Neil Gorsuch and nominated Judge Brett Kavanaugh.
  • Withdrew from the horrible, one-sided Iran Deal.
  • Moved U.S. Embassy to Jerusalem.
  • Protecting Americans from terrorists with the Travel Ban, upheld by Supreme Court.
  • Issued Executive Order to keep open Guantanamo Bay.
  • Concluded a historic U.S.-Mexico Trade Deal to replace NAFTA. And negotiations with Canada are underway as we speak.
  • Reached a breakthrough agreement with the E.U. to increase U.S. exports.
  • Imposed tariffs on foreign steel and aluminum to protect our national security.
  • Imposed tariffs on China in response to China’s forced technology transfer, intellectual property theft, and their chronically abusive trade practices.
  • Net exports are on track to increase by $59 billion this year.
  • Improved vetting and screening for refugees, and switched focus to overseas resettlement.
  • We have begun BUILDING THE WALL. Republicans want STRONG BORDERS and NO CRIME. Democrats want OPEN BORDERS which equals MASSIVE CRIME.
 
Claims with the usual, no listed facts and not even any links to any facts.

Show us what you really know about the Phase 1 Trade deal with China.
List the provisions and the changes made by Trump.
Then tell us what Joe and Hunter set up with China on their visit???
Unbiased = Both Sides of an issue --- which you never do. o_O

Obomba was an un-Constitutional hack that should have been impeached.
OBomba appointed Biden to be his point man on Ukraine corruption kick backs.
How did OBomba go into office in the upper middle class, and come out as a mulit-millionaire? He went from 1 house to 3 mansions... :cool:

There are clowns for sure, and you're the current board leader among the clueless clowns. o_O

So you didn’t look it up, did you? It’s not my job to do it for you. It’s readily available. If you dare, compare job growth and employment additions for the last 3 years of Obama’s term, and the first three years of Trumps.

Then get back to me.

Here’s some help

https://www.forbes.com/sites/chuckj...rowth-all-beat-trumps-best-year/#264e85876ba6
 
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How does the “Trump economy” compare to Barack Obama’s?

Consumer and business confidence surged after Trump’s election and has remained high, and manufacturing output (and jobs) also saw a noticeable jump in 2018 after Trump’s tax cut. There’s also been a drop in the number of Americans on food stamps.
Wage growth for American workers is around 3%.

The Dow 30 Industrial has risen over 10,000 points from 19,763 to 28,538, or just under 60% since Trump was elected.
The S & P has grown from 2,239 to 3,231.
==========

Before the Co-V interruptions occurred:

  • Almost 4 million jobs created since election.
  • More Americans are now employed than ever recorded before in our history.
  • We have created more than 400,000 manufacturing jobs since my election.
  • Manufacturing jobs growing at the fastest rate in more than THREE DECADES.
  • Economic growth last quarter hit 4.2 percent.
  • New unemployment claims recently hit a 49-year low.
  • Median household income has hit highest level ever recorded.
  • African-American unemployment has recently achieved the lowest rate ever recorded.
  • Hispanic-American unemployment is at the lowest rate ever recorded.
  • Asian-American unemployment recently achieved the lowest rate ever recorded.
  • Women’s unemployment recently reached the lowest rate in 65 years.
  • Youth unemployment has recently hit the lowest rate in nearly half a century.
  • Lowest unemployment rate ever recorded for Americans without a high school diploma. (but Dim-Mor-Rats will still claim only the rich benefited)
  • Under my Administration, veterans’ unemployment recently reached its lowest rate in nearly 20 years.
  • Almost 3.9 million Americans have been lifted off food stamps since the election.
  • The Pledge to America’s Workers has resulted in employers committing to train more than 4 million Americans. We are committed to VOCATIONAL education.
  • 95 percent of U.S. manufacturers are optimistic about the future—the highest ever.
  • Retail sales surged last month, up another 6 percent over last year.
  • Signed the biggest package of tax cuts and reforms in history. After tax cuts, over $300 billion poured back in to the U.S. in the first quarter alone.
  • As a result of our tax bill, small businesses will have the lowest top marginal tax rate in more than 80 years.

  • Helped win U.S. bid for the 2028 Summer Olympics in Los Angeles.
  • Helped win U.S.-Mexico-Canada’s united bid for 2026 World Cup.
  • Opened ANWR and approved Keystone XL and Dakota Access Pipelines.
  • Record number of regulations eliminated.
  • Enacted regulatory relief for community banks and credit unions.
  • Obamacare individual mandate penalty GONE.
  • My Administration is providing more affordable healthcare options for Americans through association health plans and short-term duration plans.
  • Last month, the FDA approved more affordable generic drugs than ever before in history. And thanks to our efforts, many drug companies are freezing or reversing planned price increases.
  • We reformed the Medicare program to stop hospitals from overcharging low-income seniors on their drugs—saving seniors hundreds of millions of dollars this year alone.
  • Signed Right-To-Try legislation.
  • Secured $6 billion in NEW funding to fight the opioid epidemic.
  • We have reduced high-dose opioid prescriptions by 16 percent during my first year in office.
  • Signed VA Choice Act and VA Accountability Act, expanded VA telehealth services, walk-in-clinics, and same-day urgent primary and mental health care.
  • Increased our coal exports by 60 percent; U.S. oil production recently reached all-time high.
  • United States is a net natural gas exporter for the first time since 1957.
  • Withdrew the United States from the job-killing Paris Climate Accord.
  • Cancelled the illegal, anti-coal, so-called Clean Power Plan.
  • Secured record $700 billion in military funding; $716 billion next year.
  • NATO allies are spending $69 billion more on defense since 2016.
  • Process has begun to make the Space Force the 6th branch of the Armed Forces.
  • Confirmed more circuit court judges than any other new administration.
  • Confirmed Supreme Court Justice Neil Gorsuch and nominated Judge Brett Kavanaugh.
  • Withdrew from the horrible, one-sided Iran Deal.
  • Moved U.S. Embassy to Jerusalem.
  • Protecting Americans from terrorists with the Travel Ban, upheld by Supreme Court.
  • Issued Executive Order to keep open Guantanamo Bay.
  • Concluded a historic U.S.-Mexico Trade Deal to replace NAFTA. And negotiations with Canada are underway as we speak.
  • Reached a breakthrough agreement with the E.U. to increase U.S. exports.
  • Imposed tariffs on foreign steel and aluminum to protect our national security.
  • Imposed tariffs on China in response to China’s forced technology transfer, intellectual property theft, and their chronically abusive trade practices.
  • Net exports are on track to increase by $59 billion this year.
  • Improved vetting and screening for refugees, and switched focus to overseas resettlement.
  • We have begun BUILDING THE WALL. Republicans want STRONG BORDERS and NO CRIME. Democrats want OPEN BORDERS which equals MASSIVE CRIME.
Im not sure where you copied this from, probably OAN, but the info is not correct. For instance, GDP growth last quarter was not 4.2%. In fact, the economy hasn’t achieved 3% annual growth like he promised it would.

Here’s your link since you seem to be struggling.

https://www.statista.com/statistics...-from-preceding-period-in-real-gdp-in-the-us/
 
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Caterpillar is a DOW member. Caterpillar used proceeds from shut mining manufacturing plants for stock buy backs helping to drive up stock markets. The usual suspects including instaGATOR fully understands this. BSC does not. Most of us here fully understands Mugabe's war on coal and his Marxist economic policies.
 
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Caterpillar is a DOW member. Caterpillar used proceeds from shut mining manufacturing plants for stock buy backs helping to drive up stock markets. The usual suspects including instaGATOR fully understands this. BSC does not. Most of us here fully understands Mugabe's war on coal and his Marxist economic policies.


Mugabe's war on coal

Regional State of the States: Association Leaders Look to the Future


https://wvcoalassociation.wordpress.com/category/obama-war-on-coal-2/
 
Caterpillar is a DOW member. Caterpillar used proceeds from shut mining manufacturing plants for stock buy backs helping to drive up stock markets. The usual suspects including instaGATOR fully understands this. BSC does not. Most of us here fully understands Mugabe's war on coal and his Marxist economic policies.
You don’t seem to understand the stock market either. That’s why coal plants continue to close under Trump.

Stick to........?
 
I have the Seeking Alpha app on my phone, and saw this news alert about the drop in GDP about 30 minutes ago. I thought of the OP and assumed he would be posting this news in short order. I was right.

Over the weekend, I talked to my friend in Louisville who got let go a few weeks ago. He's still processing what's happening, and is now finally getting to start looking for work. He's turning 65 in about a week and needs to work till he's 70 if he can. To his credit, he knows with his age and the current economy his prospects are pretty slim, even though he's a good mechanical engineer. I feel really bad for him and others like him.
That’s really rough. Hope he can recover quickly. I’m starting to worry about my company making it through this. It’s a small family owned company and may not have the resources or the will to keep things afloat much longer. I’m up in Chicago and it’s not cheap to live here at all. I guess if it happens we will pack up and head back South, but to where and what I have no idea.
 
We would have recovered much sooner had he been quicker to act when told of the potential danger.
I have decided that you are a plant for the DNC. Worse yet, you probably take directives from some Soros funded group.
To smugly post garbage like this is intentional, pre-packaged tripe.
You're not worthy of being called an American in any sense of the word...because no real American wants his or her country and his or her fellow Americans to endure this situation.
 
Of note...and a thoroughly alarming one at that, the 10th Circuit Court has decided that the Kansas Law that requires voters to offer proof of citizenship when registering to vote is unconstitutional.
The court, based in Salt Lake City, upheld a Federal judges original injunction that the requirement violates the Constitution's Equal Protection Clause.
The decision is binding in a large area of the West covered by the 10th Circuit's jurisdiction.

If Trump is not re-elected, it truly is over. We'll have an elderly senile puppet as a figurehead, with Democrat operatives telling him what to say...after they've met and decided what that will be.
It's now or never again.
 
I have decided that you are a plant for the DNC. Worse yet, you probably take directives from some Soros funded group.
To smugly post garbage like this is intentional, pre-packaged tripe.
You're not worthy of being called an American in any sense of the word...because no real American wants his or her country and his or her fellow Americans to endure this situation.

well, that’s your opinion. And yet you seem to have no problem with the Biden Or any Dem bashing on here. You are as big a hypocrite as they come.

And I’ll put my American bonafides up against yours any time. Please show one post where it shows I “want” Americans to endure this pandemic. In fact, I’m merely pointing out that had Trump listened to his advisors and not downplayed the potential effects, then some lives might have been saved. But somehow you take offense to that.

So STFU.
 
well, that’s your opinion. And yet you seem to have no problem with the Biden Or any Dem bashing on here. You are as big a hypocrite as they come.

And I’ll put my American bonafides up against yours any time. Please show one post where it shows I “want” Americans to endure this pandemic. In fact, I’m merely pointing out that had Trump listened to his advisors and not downplayed the potential effects, then some lives might have been saved. But somehow you take offense to that.

So STFU.
Temper, temper little dweeb. Don't like being called out? You are an unpatriotic stooge, plain and simple.
How about - since we're into message board memes - GFY you leftist POS.
 
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Temper, temper little dweeb. Don't like being called out? You are an unpatriotic stooge, plain and simple.
How about - since we're into message board memes - GFY you leftist POS.

That not a meme you old hag.

And you are just a Trump cock gobbler, so you have nothing to brag about. Enjoy your social security and welfare check that I am paying for.
 
That not a meme you old hag.

And you are just a Trump cock gobbler, so you have nothing to brag about. Enjoy your social security and welfare check that I am paying for.
I'm paying my own way with Social Security that was paid into since my first job over forty years ago, you ill informed loser. I have my 401 and my IRA and I'm not on ANYONE's welfare. You thinking about how your Mama gets by or something?
I'm not an old hag - but you are a young dipshit.
 
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I'm paying my own way with Social Security that was paid into since my first job over forty years ago, you ill informed loser. I have my 401 and my IRA and I'm not on ANYONE's welfare. You thinking about how your Mama gets by or something?
I'm not an old hag - but you are a young dipshit.
Sorry, that money you paid into SS went to retirees. You don’t have a separate SS account. Us workers are now paying yours. I shouldn’t have to explain how it works but I guess I overestimated you.

And you Trump check is a welfare check. Which you’ll gladly cash while complaining about the Dem freeloaders.
 
well, that’s your opinion. And yet you seem to have no problem with the Biden Or any Dem bashing on here. You are as big a hypocrite as they come.

And I’ll put my American bonafides up against yours any time. Please show one post where it shows I “want” Americans to endure this pandemic. In fact, I’m merely pointing out that had Trump listened to his advisors and not downplayed the potential effects, then some lives might have been saved. But somehow you take offense to that.

So STFU.
AND I will point out for the Nth time that Fauci has stated on multiple occasions that Trump took it seriously from the beginning and listened to his advisors. Fauci said Trump has done everything he and Birx has advised him to do and from day one. IT was Fauci that was saying as late as Feb 29th that there was no reason to take any action and everything should go on as normal...11 days later the USoA shut down...people take offense because YOUR statement is BS ...always has been and always will BE...BTW I DID NOT VOTE FOR TRUMP before you start that nonsense...HE is a jackass and a clown BUT he has done 90% the right things policy wise from the day he got into office... I am more offended by this constant lying, attempts by dems to manufacture claims of wrong doing and endless investigations of the man than I am by the multitudes of times he has dropped turds into the punch bowl of discourse. The latter is Yankee/NYC bravado while the former undermines proper policy, is bad for America and the American way.
 
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A reminder: What one says and especially how one says it defines one. BSC defines his feelings and intents clearly with what he types. goldmom clearly understands. This is not classical mechanics. None of this is complicated.
 
A reminder: What one says and especially how one says it defines one. BSC defines his feelings and intents clearly with what he types. goldmom clearly understands. This is not classical mechanics. None of this is complicated.
Careful, Ghost will be jealous.
 
AND I will point out for the Nth time that Fauci has stated on multiple occasions that Trump took it seriously from the beginning and listened to his advisors. Fauci said Trump has done everything he and Birx has advised him to do and from day one. IT was Fauci that was saying as late as Feb 29th that there was no reason to take any action and everything should go on as normal...11 days later the USoA shut down...people take offense because YOUR statement is BS ...always has been and always will BE...BTW I DID NOT VOTE FOR TRUMP before you start that nonsense...HE is a jackass and a clown BUT he has done 90% the right things policy wise from the day he got into office... I am more offended by this constant lying, attempts by dems to manufacture claims of wrong doing and endless investigations of the man than I am by the multitudes of times he has dropped turds into the punch bowl of discourse. The latter is Yankee/NYC bravado while the former undermines proper policy, is bad for America and the American way.
What else is he going to say. If you have paid attention, Fauci often contradicts what Trump says. He has warned about the possible spread and its serious nature since February. I’ll be glad to post them if you like.

And never bragged about people going to work and getting better, it’s all under control, 15 going to zero, it will magically disappear, etc.
 
What else is he going to say. If you have paid attention, Fauci often contradicts what Trump says. He has warned about the possible spread and its serious nature since February. I’ll be glad to post them if you like.

And never bragged about people going to work and getting better, it’s all under control, 15 going to zero, it will magically disappear, etc.
No need... seen all of that ...doesnt change the fact that you are a tool and spin faster than a washing machine. Trumps a loud mouth but he has been following the doctors orders aka Fauci...I dont need to know anything else and dont care for Trumps 3rd grade level of speaking but thats far from the false allegations you, dems and the national media have been pushing. Trump has done a good job on this and has been since January. Trump being a loud mouthed braggart and asshole does not make him incompetent. He is very competent.
 
Sorry, that money you paid into SS went to retirees. You don’t have a separate SS account. Us workers are now paying yours. I shouldn’t have to explain how it works but I guess I overestimated you.

And you Trump check is a welfare check. Which you’ll gladly cash while complaining about the Dem freeloaders.
God you're dumb as f**k.
 
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Grumpy? I spend most of my time here chuckling at the twits,,, like you.

But no wonder you're so clueless, as a socialist Dim-Moe-Rat working podling... :cool:


I don’t watch cartoons.

It sounds like you’re the socialist living on some sort of government pension, while I’m still contributing to the economy.
 
I don’t watch cartoons.

It sounds like you’re the socialist living on some sort of government pension, while I’m still contributing to the economy.
Ooooohhhh! We're all impressed by your vaunted wealth around here.
None of us are actually impressed by how you throw money in the streets the same way Adam "Pacman" Jones threw money at a strip club before he beat the crap out of one of the strippers.
Oooh, Ahhhhh! BSC911 loves to brag about his riches. Ooh! Internet rich boy.
 
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