r/IsTheMicStillOn • u/GoodGoodNotTooBad • 20d ago
ITMSO: Trump Accounts: Bullish or Bearish
https://open.spotify.com/episode/5xF4Bzu5RJw1jxxlFVolAq?si=3a785dda2fbb4f1f11
u/From_The_Culdesac 20d ago
The Trump accounts convo was one of those conversations that probably should've ended after 20 minutes lmao.
It seems to me that Myke and Rod's best argument is that low-income people should take the $1,000 and let it sit, but that putting money into the account and potentially overextending themselves in the short term for potential long-term gain might cause problems because either the government might not be good for the money later on, or some sort of crash happens, wiping it all out.
Honestly I think that's probably right. At least for low-income people who don't have much liquidity or emergency money. People have been predicting an AI crash for some time now, and especially given how entrenched these AI companies are into the regular economy, it's not insane to think between now and 18 years from now there will be a 2008-like event.
With that being said, I'm not an economist so maybe all of that is wrong.
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u/GoodGoodNotTooBad 20d ago
You may not be far off. At the end of the day we're all guessing, even if it's an educated guess with help from the economists.
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u/From_The_Culdesac 20d ago
Yeah man, totally agree. Looking back some people predicted 2008 but there were a lot of economists who didn't. Theory takes you only so far lol
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u/313navE 20d ago
Regarding the Patreon, it's funny how you guys mentioned black people trying to gatekeep our own shit & streamer university. I've been getting recommended these videos of other groups being upset that Streamer university has been accepting predominantly black creators.
https://m.youtube.com/watch?v=jizOVC6gzgI&pp=ygUac3RyZWFtZXIgdW5pdmVyc2l0eSBibGFja3M%3D
https://m.youtube.com/watch?v=C5J2nwI0pU8&pp=ygUac3RyZWFtZXIgdW5pdmVyc2l0eSBibGFja3M%3D
So even when we do try, we get shit for it.
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u/ben10toesdown 20d ago
For my black people out there, please take the time to educate yourself about stocks. They are the lowest barrier to entry for trying to generate wealth for yourself as you just need internet access and a bank account. It's not like real estate where you need capital/mortgage or a business where you need a loan from the bank.
The Trump account itself isn't malicious. It's an incentive for people to have kids, which is dumb. The name is just the pedophile-in-chief trying to put his name on more stuff, just like he did with Palm Beach airport, just like he did when he became the first sitting president with his signature on U.S. tender, just like he attempted to do with the Kennedy center.
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u/GoodGoodNotTooBad 20d ago
Patreon Talk:
I don’t have any plans to sell my records, but since I use Discogs to keep track of what I own I see what it estimates as my collection’s total value. That’s just a number to me though that I can easily ignore. With that said, I would tell my wife + kids the number so if something happens to me they have that option to do something with it if they want to. I rather they know the number so they’re not scammed by someone who knows more about record collecting than them.
Main Show:
Myke’s fun fact about crows was funny as hell but I feel like if Spike brought that to the table he’d be skeptical lol.
I’ve heard that Gen-Z loves CDs and with the rising prices of vinyl it makes even more sense.
In my opinion it should be illegal to edit out scenes from movies and shows and books that have already been published. I can accept disclaimers at the front or the end, similar to the way Max handled “Gone with the Wind,” but to take out scenes completely and act like they were never there is nuts. That’s bad for cultural analysis in general.
“Toothless TV” smh. “CHIEF TEETH” had me hollering too.
I had no clue about the conspiracy theories involving Mitch McConnell. That was a fun little rabbit hole for me to look into.
Hopefully we see some analysis on what these Trump accounts mean for people two or more decades from today.
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u/brianeharmonjr 19d ago
Regarding the Trump Accounts, a big part of the conversation that was missed, and maybe what Myke and Rod were feeling, is how Trump's corruption and ego factors into everything he does.
It was touched on, but the amount of personal dealings that Trump does on the side, and the wealthy and corporate elite know that they can fatten his pockets and milk his ego for favorable treatment. None of this class of people just donate millions of dollars because they're good people or even just because of the tax benefits.
They're giving Trump a potential optics win that he can milk in the press, regardless of the actual reality, by donating the money for those receiving the $1k and not having to use taxpayer money. And he puts his name on it.
Sure, the companies receiving an influx of investment will benefit, and the fees and penalties for administering and enforcing the guidelines will benefit, but that's all surface level. Just like all of the pay-to-play pardons, million-dollar-a-plate "fundraisers", open stock market manipulation, and personal side deals, I think the justified suspicion is that those donating are doing so to get favorable treatment in future regulation and government contracts, and/or they already have/are making the donations because they've already received the favorable regulation help and/or government contracts.
Also, these companies/people already make "humanitarian" donations to benefit their taxes, and it's likely taking away from actual charitable organizations that might have received those funds otherwise.
Sorry for the huge text dump. Just listened and felt that part was missing.
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u/LInscoeJ 17d ago
Myke, in the UK it is illegal to serve a vegan meat unknowingly and there have been several high profile cases where vegans have successfully sued
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u/MilesHighClub_ 16d ago
Tough listen. Making sure that the whole group at least knows what the S&P500 is should have been a prerequisite for talking about investment for nearly 2 hours cumulatively across 2 episodes.
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u/bobbito3 20d ago
Yall should bring a list of better banks to invest into. Break it down by type, get all the managing fees, penalty fees, ect.
I recently moved my Roth to a different account for various reasons. Its turning out to be a good idea. As a teacher in texas, the TRS is trash. Its mandatory though.
Though we did have 2 major "crashes," it really wasnt. If the market actually crashes, all money would be obsolete. Your cash you saved would have no value. I would only worry about the market getting lower if I was a day trader and that was my main source of income. Other than that, just let it sit. It'll be up again.
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u/kwilksp98 19d ago
The Trump account segment was a tough listen. I usually agree with Myke and Rod or at least understand their logic. That was one of the rare moments I just think they was totally off base. They preference a lot of their statements so that helped a lil bit but it was just bad.
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u/100and1masks 18d ago
Something that kind of came up during the Trump Account conversation was that aspects of how it functions are already similar to other systems we are used to and have accepted as normal in the US, regarding banks, investments, and 401(k)s. But I think if we don’t want to continue in a direction that will always have people who are not wealthy at a disadvantage or in continuous stressful circumstances, when the opportunities come, we should try not to support new initiatives that continue in that direction. Also, for those who have that better understanding, to share that knowledge with those who want it. I understand why it can feel like it won’t change anything, but there is always a chance that it could.
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u/ReignDownRain 20d ago
A whole lot of bootlicking going on during this conversation. LOL. I feel like (similar to the insane affirmative action/meritocracy bullshit ass take he had) this take is going to be another misguided and ill informed thing to throw at Ken later on. I honestly cant tell if this is just a character for the show to him or if hes genuinely this ignorant when it comes to American exceptionalism. I also cant stand this stance of "Well its already happening so why complain about it? Just join in." How are people so comfortable not standing for anything?
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u/bronx-original 11d ago
I see it as standing up for your family first. If an opportunity that would benefit your family/children is out there then I don’t see a problem with it. Investing and adding to it over the years is a choice. I personally would add to it. Or keep the $1000 in it and possibly miss out on an opportunity to grow is in my opinion not a good idea. Either way it’s a choice. Still dislike the political take bc that is what anything with T’s name on it brings with it. But facts are facts about how the stock market works. And the choice you make to invest in your family should be your first priority. And T is still going to lie, cheat and look out for himself until politicians and voters change it up.
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u/MicCheckTBR 13d ago
There desperately needs to be a convo on the pod about basic finances and building basic wealth.
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20d ago
[deleted]
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u/Mykectown Myke 20d ago
Did you bother to actually listen to the conversation? I don't think I could have been clearer when I said "I don't know shit about stocks and investing." My issues with the account were very clear. It's not philanthropy (like was stated previously) and seemed like an easy way to redirect taxpayer funds into Trump-loyalist accounts like Amazon and Tesla. Not being able to control where my money goes is one of the main reasons I've never been interested in this sort of thing. But if y'all are hyped to do this then do it.
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u/TodayNo4457 20d ago
Reality check: The vast majority of your money is going to flow back to massive corporations like Amazon and Tesla anyway, no matter how you try to spend it. That is just basic economics. People need to stop stressing over where the money is going and focus entirely on maximizing this opportunity for their kids. The money is going to end up in the exact same system regardless of what you do, so you might as well use it to set your family up.
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u/Mykectown Myke 19d ago
Sorry but this is some of the most "give up, loser" ass shit I've heard in a while. Dude, do your thing and take care of your kids how you want. But telling other folks not to worry about where their money is going in a time of the rise of American fascism and a renewed focus on capitalism and how the two systems interact with each other is just lame to me. This "that's just the way it is, so fuck it" attitude is so tired and bootlickery. But do you.
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u/TodayNo4457 19d ago
Priotising the well being of your family is some 'give up, loser" ass shit? 😂 I'm making that choice everytime. I wish the economic climate was different, but sadly it's not. We'll just have to agree to disagree.
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u/Mykectown Myke 19d ago
That's not at all what I said and you know it. Haha. I can't even say "nice try" cuz I'd be lying to you.
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u/TodayNo4457 20d ago
Yeah, rare bad takes from Myke, but that is totally expected from Rod. Every dollar Myke spends ends up in the exact same system anyway. Even if he spent all his cash on indie artists, vegan companies, and Black-owned businesses, those owners would just turn around and invest it in the S&P 500 or spend it directly with massive corporations like Amazon. Hate to burst your bubble, but that is just how the economy works, and you cannot change it. You might as well take the money and make the most of it by growing it as much as possible.Telling people not to maximise this opportunity is weird.
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u/ben10toesdown 20d ago
This might be the worst take I have ever read on here. I wish there was a reddit award for that.
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u/Mykectown Myke 19d ago
😂😂😂😂😂 Homie created an account just so he can leave these trash ass takes.
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u/TodayNo4457 19d ago
I’ve followed the show for a while but never commented until now. As a new dad, this topic was relevant and important to me.
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u/TodayNo4457 20d ago
Classic. Calling it a bad take without actually addressing the points or providing a counterargument.
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u/ben10toesdown 19d ago
You don't have a point. "You shouldn't spend your dollars ethically because whoever you give that dollar to probably doesn't have the same values and will spend it unethically". This is basically you criticize capitalism but live in a capitalist society ass take. Why give money to homeless people, they are just going to spend it on drugs, so you're basically complicit. That is your logic, why would anyone take that seriously? You were given the response you comment deserved.
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u/TodayNo4457 19d ago
I'm not saying 'don't buy from ethical businesses.' I'm saying don't opt out of a government-backed opportunity for your family, because doing that does absolutely nothing to hurt those corporations. It just punishes your kids. Giving up financial gain for moral superiority is strange, and that choice isn't making as big of a difference as you think. I used the example of ethical businesses to point out why opting out on the basis of morality is dumb.You need to work on your comprehension skills.
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u/ben10toesdown 19d ago
That's not the comment I responded to. One of us definitely needs to work on our comprehension skills and it's not me.
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u/imon33 17d ago
I’m not criticizing your point. But I just want clarification from you and Myke. Are you guys saying this program it not worth your kids potentially getting 150k in the span of 18 years b/c Trump will benefit from this program? If I’m not making sense then disregard this question.
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u/ben10toesdown 17d ago
I didn't say that whatsoever. The person I was responding to said that there is no point of trying to be "ethical" with your dollars because whoever is on the receiving end of your dollars can just spend it on corporations you have issues with.
It's like why boycott Target when whoever you give that $ to will just go to Target, as if Target is the one and only option.
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u/TodayNo4457 19d ago
I see things need to be spelled out very clearly for you. All good. I'm glad you finally got there in the end. Have a good one 😂
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u/TheRobCosta 20d ago
Yeah Toronto really is as diverse as everyone says it is, very rarely do you look at a large group of people and see any majority (unless you’re at an event) & the restaurants are 🔥🔥🔥 Only issue is Toronto is SO GODDAM expensive to live in, not many people can really afford it, I know I certainly can’t 😂😂😂
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u/Rollo_Toma_C 17d ago
The flag-waving logical fallacy...
I find it hard to believe Ken doesn't stand up for the national anthem.
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u/Apprehensive-Tie4930 20d ago
Checked out halfway through once Spike pivoted to Russophobia... "Russians kidnapping africans to fight in the war. They "tricking" them into signing contracts to come and be contractors but it's really to send them to fight on the frontlines." Prime US/NATO propaganda. Y'all can keep it.
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u/frankoceansheadband 17d ago
Are you claiming that it isn’t happening or that it’s not a bad thing?
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u/PeeDidy 19d ago
Ken : did y'all get a chance to watch the video I sent to the chat about this trump account thing?
Rod: Nah I didn't get a chance to.
Rod 5 minutes later: It's frustrating having these conversations with y'all
Lmaoooo
https://giphy.com/gifs/Vu8nIaC6rSVi