Hi Ruth and wonderful compatriots of lucid. If anyone else is in a similar position as I, I'd be interested in your thoughts. I am a couple of years from retirement. An advisor assures me my portfolios spread out such that a crash wouldn't destroy my retirement. He points to his experience through the 2008 situation and that none of his clients had exhibited the ruin that plagued so many people. Is anyone else considering cashing out from the stock market? My advisor vehemently warns against doing that. Saying that any crash will result in a rebound yada yada. If anyone with specific economic knowledge can chime in that would be wonderful as well. If there's a crazy crash what the heck is the cash going to be worth anyway? So I'm not sure what to do about all this. The advisors point of view is that I won't stop taking care of pets as a veterinarian and like that all the businesses will continue to turn out their daily business big and small. Yikes! I'm not sure he appreciates what all of the history professors are ringing the alarm about etc. It's almost like I know too much haha. Thanks to Ruth and other educators!
Michael, we are long retired, and our financial advisor has made sure that our investments are of a kind that would maintain their stability. I can't tell you a whole lot about that, except that many of them are insurance policies. I also recall from years ago, that a diversified portfolio should include international investments (the financial advisor I had then told me that my investments were well diversified, even though he did not believe in doing intentional ones. That was one of the things that got me to - fortunately- no longer trust him). To be honest, I don't know what we would be able to do if the economy tanked.
I'm no financial expert, however my husband says we can put money in CDs, cash vehicles with your investments house prior to January 20th and not be charged capital gains. That way we can hear what the the orange one says he will do, and be more protected.
Thank you, Sally. Unfortunately we are not in a position to do any other investments. The way we are set up I believe we should not end up with capital gains. If I recall correctly capital gains happen when you trade investments (sell old ones). We have no intention of selling anything, and except for our IRAs and our disbursements from our non-IRAs do not have taxes attached because they were paid before we got the money. To the best of my knowledge. I actually don't pay attention to the taxes because my husband prepares our returns.
Pinochet was the brainchild of Kissinger and Milton Friedman. It irks me every time I hear a conservative mook sing their praises. So Elmo says we're going to go through some things? That little troll should be careful what he wishes for! Hiding under the bed is NOT an option. We must fight for what is right!
The income/bond etfs and muni bond funds are up, signaling a broad shifts in allocation. This matches historical patterns. The stock market always does better under Democrat Presidents. We haven’t had a recession for 16 years not counting the Pandemic which was a once in a hundred year event ( although influenza pandemics are always a risk). If you are close to retirement, probably should not be in stocks at all, Should be in well diversified etf, low costs index mutual funds, and probably 1/2 in income bond funds.
When 16 Novel Laureates in Economics sign a letter that Trump is bad for the economy, I think we should take that to mean tariff inflation, a down stock market, rising interest rates, falling home prices, high unemployment.
It’s almost like R’s want to crash the market. WHEN they do, know that they probably HAVE already sold high. Let things crash and then they buy it back cheap. That’s the pattern I’ve seen for the last 50 years with Republican presidents. But I am by no means an expert.
That Crypto is supported by Trumps biggest donors tells us something. That’s an asset bubble (fraud) they can perpetuate for a while. Bitcoin is high, and has made a comeback. Google ads for crypto of all kinds, even as encouraging business to accept it as payment is getting weird. I would stay away from crypto investments. I’ve wondered a lot this month about what if the goal of Musk, Theil, Brinn, Sachs, plan is to crash the dollar along with the economy, and replace the $ with crypto as the reserve currency. This would be inline with international oligarchs recent statements as well as warnings from other scholars. “American billionaires have more in common with foreign oligarch’s than they do with regular Americans.” - Tim Snyder. There is a Libertarian pipe dream of not paying any taxes. They believe taxes are “confiscatory”. Crypto is that baby Libertarian s want to raise, so they can avoid taxes altogether.
Ted - Re: "It’s almost like R’s want to crash the market." They may not have sold high; but, they will own put options on derivatives that I believe still escape insider trading scrutiny (a good question for Joyce Vance and her #SistersinLaw!).
I believe a lot changes when Jerome Powell’s term is up in a year and a 1/2. Trump is going to super heat the economy till then. Deregulate and as privatize the spoils to the maga donors and sycophants. New fed appointee will be a wacko. The Treasury guy is a failed hedge funder that was a Soros assistant but not a main guy. The economic appointees are b and c team. New fed chairman will drop Interest rates so fast, causing runaway inflation. I give it two years to run up then crash and burn out of control. The right will say they share our pain, but they will have sold high before the crash. I wish Congressional trades were public in real time. They do have to disclose their trades, so watch them closely.
Michael - I am living on retirement cashflow. Unless you are comfortable hedging your portfolio using put options and you enjoy actively monitoring and trading a portfolio I recommend KISS, keep it simple! I have been in CDs and T-Bills for over a year. That has been the silver lining to increased interest rates. A year ago, I could regularly get above 5%; now I can get around 4.3%.
I have always liked Vanguard's founder John Bogle's advice of keeping your equity exposure to 100 minus your age; but, with our current political and international risk environment I have been very comfortable with the 4%+ return supplementing my retirement checks.
I have friends who are also in their 60s, 70s and 80s who are highly exposed to equities and paying 1 to 2% to advisors. If you want to stay in equities look at Scott Burns' Couch Potato Portfolio and its variations:
Years ago, Scott did an excellent study of how just a 1% fee kills returns over time!
I have seen a tendency in my friends; they are reluctant to dip into principal. My planning is based on 85; between now and 85 I intend to enjoy the principal. If I make it to 85 my monthly retirement checks should provide sufficient cashflow especially if I'm living in a Grandkid's basement!
I am an adherent of the Bogleheads' investment philosophy, but given the "unusual" political situation, I, too, have brought down my equity exposure and have moved mostly to short-term Treasuries. I also hold a little gold bullion and some paper Euros (in case my family has to flee the country!)
He is certainly telling you the prevailing wisdom. it is prevailing because it has always happened thus. I can't give advice, but if I were you i wouldn't cash out. If you are still working...and if you are a veterinarian, I wouldn't worry so much. If need be, you'll just work a few years more.
The information about Kissinger is really scary. I had no idea. On our last visit to Chile, in 2020, I recall one of our tour guides talking about the fact the the country is still recovering from what Pinochet did. I am afraid that all the things trump and musk want do will wipe out our finances and make the end of our lives really miserable.
Disturbing and frightening given that “we should “know better” given our history. Clearly not the future we want… how to be active against this regime is a serious question?
I had never heard the whole story of the US involvement in Pinochet's Chile. It almost seems like the hierarchy in the world has never changed since the Middle Ages. The kings (presidents), Catholic church and economic plunderers are all still around doing what they have always done - take advantage of the masses for personal gain. I know history tends to repeat itself, and I am afraid that it will again soon. It is just sad that so many refuse to see what is coming. By the time they do, it may be too late. Hopefully not.
This may cheer you up: corrupt religion that enriches itself by unholy intercourse with world rulers is depicted in symbol as “Babylon the Great” in Revelation (17 and 18). This disgusting defamation of all that is true and godly will be abruptly ended, by government action according to 17:15-18. God warns us to separate ourselves from all such religions: 18:4-8.
I keep wondering who or what the "abomination that causes desolation" is. A lot of people try to call this one or that one the anti-Christ, but I think the abomination would be a much clearer sign of what is to come. Those (Christian Nationalist) who are pushing church and state together would surly be the ones to bring the abomination into the church (temple). Trump, himself, seems to be the abomination to me, but I am not sure of that. I am not an "evangelical", but I have read the bible a lot.
That’s actually not clear. It could connect with Rev 17:16 (so that the advice to flee to the mountains [Matt 24:16-18] would parallel 18:4) or it could instead relate to the attack on God’s true people (note: NOT modern Israel) described in Ezekiel 38. But in that case it’s unclear what “flee to the mountains” means. We shall see.
This attack sparks God’s reaction and is the beginning of Armageddon. Armageddon is not a war between nations as most people believe, but the war in which God wipes out all the nations. See Ezek 38:21-23 and Rev 19:19-21.
The belief that all Christians will be raptured away and safe from harm isn’t correct. Pretty much all of the fundamentalists end times ideas are wrong.
We know enough to be prepared but some things will be discerned as it happens.
Obviously, there was a very literal fulfillment of Matt 24:15-22 in 70 CE when the Romans destroyed Jerusalem. But the context makes clear that that wasn’t to be the only fulfillment.
The fascist kleptocracy that will take power in America a mere 25 days from now will be filled with amoral Trump/Musk fanatics who have neither shame nor conscience. Their motivations rise no higher than a lust for unaccountable power, insatiable greed, and revenge against their perceived enemies. The rule of law will be circumvented in myriad ways, and any attempts at dissent will be answered by swift, vicious reprisals. However, this is what 49.9% of those who voted in the election have invited.
As for the 36.1% of eligible voters who did not do their civic duty, may they be wracked by guilt.
Trumpism is – as it always has been – built on brazen lies, pandering cynically but effectively to the willfully ignorant and hopelessly gullible. There are too many lies to keep track of, from The Big Lie all the way down to countless daily lies Trump tells as easily as breathing. Yet he has conned enough Americans to let authoritarianism in our front door. Which brings to this reader's mind words widely attributed to Voltaire: "Anyone who can make you believe absurdities can make you commit atrocities."
The year 2025 will begin next week amid many uncertainties – except for one: It's going to be dark.
Yes, dark—even for MAGA too … but you know who it won’t be dark for? Trump, Musk, Senate and House Republicans (clearly the richer party), all those prayer-and-thought keepers …
Nixon and Kissinger were twin evils, and their marriage in ‘68 brought the US an additional 26,000 dead young Americans for an obscene phrase, “peace with honor.” Their grandchildren still populate the American political system.
It’s habitual with the GOP, Ruth! The quest for power and control is more powerful than integrity and decency to them! Glad you’re calling them out! Thanks!
That will be useful to those who do not rely on the programs musk intends to wipe out in order to pay his pathetic, criminally low taxes.
My life will be destroyed. I live on my veteran’s disability compensation (very much earned). We have zero social programs to help people when the government takes your income for themselves.
I'm sorry if I was being insensitive. I'm also worried about Social Security, Medicare, and Veterans benefits. All of what we should expect to reap from contributing to a society that pays out to people who have paid in throughout their adult lives.
I didn’t think you were insensitive at all! I agree with you - a class on protecting one’s finances would indeed be useful. Especially now.
I meant that such a class won’t help people who depend on veteran’s disability compensation, Social Security - regular or SSI, even veteran’s retirement payments. All of those, as well as Medicare, Medicaid and veteran’s healthcare, are slated to be taken away so those in the 1% Club can be even richer. People who depend on these to live usually don’t have enough investments to generate a monthly income. (trump tried to reduce veteran’s disability payments not long after taking office in 2016. No explanation given other than “we’ve determined you’re getting too much”.) When these programs are stopped so many lives will be destroyed, mine included. A bit of savings or one or two small CD’s won’t last long. We’ll end up homeless & if miller has his way, the homeless will be forced into camps. It’s a horrific scenario. One they fully intend to carry out.
I wish I had other income and investments. I wish my service had not had such a high price and permanently altered my life and my ability to work.
I apologize that my comment came across as chiding you. I didn’t mean it that way at all.
Ruth, I am forever thankful that I found you for you always add to my knowledge about what has been and how it influences what will be. We can be prepared for what may come which is all we can ask for when the powers that be are so highly placed and entrenched as they are at this point. Thank you for making us more informed.
Ruth Ben-Ghiat: The felling of the democratically elected Salvador Allende and elevation of Agusto Pinochet was a crime against humanity in Chile that will never be forgiven.
Also, it is interesting that Elon Musk warns that ordinary Americans will have to suffer shortfalls for a while.
How much "hardship" will Mr. Musk undergo?
Oh, that is right . . . The rules apply to the little person, not to the elite.
Hi Ruth and wonderful compatriots of lucid. If anyone else is in a similar position as I, I'd be interested in your thoughts. I am a couple of years from retirement. An advisor assures me my portfolios spread out such that a crash wouldn't destroy my retirement. He points to his experience through the 2008 situation and that none of his clients had exhibited the ruin that plagued so many people. Is anyone else considering cashing out from the stock market? My advisor vehemently warns against doing that. Saying that any crash will result in a rebound yada yada. If anyone with specific economic knowledge can chime in that would be wonderful as well. If there's a crazy crash what the heck is the cash going to be worth anyway? So I'm not sure what to do about all this. The advisors point of view is that I won't stop taking care of pets as a veterinarian and like that all the businesses will continue to turn out their daily business big and small. Yikes! I'm not sure he appreciates what all of the history professors are ringing the alarm about etc. It's almost like I know too much haha. Thanks to Ruth and other educators!
Same here. My advisor says the same. I am retired. WTF!
Same here, at 73 I’m not sure I’m ready for a 4 year daily shit show.
Michael, we are long retired, and our financial advisor has made sure that our investments are of a kind that would maintain their stability. I can't tell you a whole lot about that, except that many of them are insurance policies. I also recall from years ago, that a diversified portfolio should include international investments (the financial advisor I had then told me that my investments were well diversified, even though he did not believe in doing intentional ones. That was one of the things that got me to - fortunately- no longer trust him). To be honest, I don't know what we would be able to do if the economy tanked.
Hi Susan,
I'm no financial expert, however my husband says we can put money in CDs, cash vehicles with your investments house prior to January 20th and not be charged capital gains. That way we can hear what the the orange one says he will do, and be more protected.
Thank you, Sally. Unfortunately we are not in a position to do any other investments. The way we are set up I believe we should not end up with capital gains. If I recall correctly capital gains happen when you trade investments (sell old ones). We have no intention of selling anything, and except for our IRAs and our disbursements from our non-IRAs do not have taxes attached because they were paid before we got the money. To the best of my knowledge. I actually don't pay attention to the taxes because my husband prepares our returns.
I have $ in 401K. Still working & in my 50s. Don't know how to safeguard my retirement.
Pinochet was the brainchild of Kissinger and Milton Friedman. It irks me every time I hear a conservative mook sing their praises. So Elmo says we're going to go through some things? That little troll should be careful what he wishes for! Hiding under the bed is NOT an option. We must fight for what is right!
The income/bond etfs and muni bond funds are up, signaling a broad shifts in allocation. This matches historical patterns. The stock market always does better under Democrat Presidents. We haven’t had a recession for 16 years not counting the Pandemic which was a once in a hundred year event ( although influenza pandemics are always a risk). If you are close to retirement, probably should not be in stocks at all, Should be in well diversified etf, low costs index mutual funds, and probably 1/2 in income bond funds.
When 16 Novel Laureates in Economics sign a letter that Trump is bad for the economy, I think we should take that to mean tariff inflation, a down stock market, rising interest rates, falling home prices, high unemployment.
It’s almost like R’s want to crash the market. WHEN they do, know that they probably HAVE already sold high. Let things crash and then they buy it back cheap. That’s the pattern I’ve seen for the last 50 years with Republican presidents. But I am by no means an expert.
That Crypto is supported by Trumps biggest donors tells us something. That’s an asset bubble (fraud) they can perpetuate for a while. Bitcoin is high, and has made a comeback. Google ads for crypto of all kinds, even as encouraging business to accept it as payment is getting weird. I would stay away from crypto investments. I’ve wondered a lot this month about what if the goal of Musk, Theil, Brinn, Sachs, plan is to crash the dollar along with the economy, and replace the $ with crypto as the reserve currency. This would be inline with international oligarchs recent statements as well as warnings from other scholars. “American billionaires have more in common with foreign oligarch’s than they do with regular Americans.” - Tim Snyder. There is a Libertarian pipe dream of not paying any taxes. They believe taxes are “confiscatory”. Crypto is that baby Libertarian s want to raise, so they can avoid taxes altogether.
Ted - Re: "It’s almost like R’s want to crash the market." They may not have sold high; but, they will own put options on derivatives that I believe still escape insider trading scrutiny (a good question for Joyce Vance and her #SistersinLaw!).
I believe a lot changes when Jerome Powell’s term is up in a year and a 1/2. Trump is going to super heat the economy till then. Deregulate and as privatize the spoils to the maga donors and sycophants. New fed appointee will be a wacko. The Treasury guy is a failed hedge funder that was a Soros assistant but not a main guy. The economic appointees are b and c team. New fed chairman will drop Interest rates so fast, causing runaway inflation. I give it two years to run up then crash and burn out of control. The right will say they share our pain, but they will have sold high before the crash. I wish Congressional trades were public in real time. They do have to disclose their trades, so watch them closely.
Michael - I am living on retirement cashflow. Unless you are comfortable hedging your portfolio using put options and you enjoy actively monitoring and trading a portfolio I recommend KISS, keep it simple! I have been in CDs and T-Bills for over a year. That has been the silver lining to increased interest rates. A year ago, I could regularly get above 5%; now I can get around 4.3%.
I have always liked Vanguard's founder John Bogle's advice of keeping your equity exposure to 100 minus your age; but, with our current political and international risk environment I have been very comfortable with the 4%+ return supplementing my retirement checks.
https://www.bogleheads.org/wiki/Asset_allocation
I have friends who are also in their 60s, 70s and 80s who are highly exposed to equities and paying 1 to 2% to advisors. If you want to stay in equities look at Scott Burns' Couch Potato Portfolio and its variations:
https://scottburns.com
Years ago, Scott did an excellent study of how just a 1% fee kills returns over time!
I have seen a tendency in my friends; they are reluctant to dip into principal. My planning is based on 85; between now and 85 I intend to enjoy the principal. If I make it to 85 my monthly retirement checks should provide sufficient cashflow especially if I'm living in a Grandkid's basement!
I am an adherent of the Bogleheads' investment philosophy, but given the "unusual" political situation, I, too, have brought down my equity exposure and have moved mostly to short-term Treasuries. I also hold a little gold bullion and some paper Euros (in case my family has to flee the country!)
How much Euros in paper do you sock away?
I purchased 20k when the USD and the EUR were at parity in 2022. They are near parity right now, so I recently added a bit more.
Now that is a commitment. Food for thought! Thanks for the info
He is certainly telling you the prevailing wisdom. it is prevailing because it has always happened thus. I can't give advice, but if I were you i wouldn't cash out. If you are still working...and if you are a veterinarian, I wouldn't worry so much. If need be, you'll just work a few years more.
I'm ashamed to admit this, but when Kissinger died, I went out on my balcony and screamed with utter delight in celebration of his demise.
Just kidding.
I'm not ashamed of that at all.
The information about Kissinger is really scary. I had no idea. On our last visit to Chile, in 2020, I recall one of our tour guides talking about the fact the the country is still recovering from what Pinochet did. I am afraid that all the things trump and musk want do will wipe out our finances and make the end of our lives really miserable.
You might consider reading Hitchen's book, "The Trial of Henry Kissinger."
Thank you, Don. I will put that on my list of books to read.
Disturbing and frightening given that “we should “know better” given our history. Clearly not the future we want… how to be active against this regime is a serious question?
Please keeps the lessons coming! I feel more empowered to engage in conversations that must be had.
Interesting to see Kissinger on the cover of Time. Interesting that it is nother foreigner meddling so thoroughly in American politics.
I had never heard the whole story of the US involvement in Pinochet's Chile. It almost seems like the hierarchy in the world has never changed since the Middle Ages. The kings (presidents), Catholic church and economic plunderers are all still around doing what they have always done - take advantage of the masses for personal gain. I know history tends to repeat itself, and I am afraid that it will again soon. It is just sad that so many refuse to see what is coming. By the time they do, it may be too late. Hopefully not.
Agree!!
This may cheer you up: corrupt religion that enriches itself by unholy intercourse with world rulers is depicted in symbol as “Babylon the Great” in Revelation (17 and 18). This disgusting defamation of all that is true and godly will be abruptly ended, by government action according to 17:15-18. God warns us to separate ourselves from all such religions: 18:4-8.
Looking more and more like it could be soon.
I keep wondering who or what the "abomination that causes desolation" is. A lot of people try to call this one or that one the anti-Christ, but I think the abomination would be a much clearer sign of what is to come. Those (Christian Nationalist) who are pushing church and state together would surly be the ones to bring the abomination into the church (temple). Trump, himself, seems to be the abomination to me, but I am not sure of that. I am not an "evangelical", but I have read the bible a lot.
That’s actually not clear. It could connect with Rev 17:16 (so that the advice to flee to the mountains [Matt 24:16-18] would parallel 18:4) or it could instead relate to the attack on God’s true people (note: NOT modern Israel) described in Ezekiel 38. But in that case it’s unclear what “flee to the mountains” means. We shall see.
This attack sparks God’s reaction and is the beginning of Armageddon. Armageddon is not a war between nations as most people believe, but the war in which God wipes out all the nations. See Ezek 38:21-23 and Rev 19:19-21.
The belief that all Christians will be raptured away and safe from harm isn’t correct. Pretty much all of the fundamentalists end times ideas are wrong.
We know enough to be prepared but some things will be discerned as it happens.
Obviously, there was a very literal fulfillment of Matt 24:15-22 in 70 CE when the Romans destroyed Jerusalem. But the context makes clear that that wasn’t to be the only fulfillment.
There are no gods. No one intelligent believes in that nonsense.
The fascist kleptocracy that will take power in America a mere 25 days from now will be filled with amoral Trump/Musk fanatics who have neither shame nor conscience. Their motivations rise no higher than a lust for unaccountable power, insatiable greed, and revenge against their perceived enemies. The rule of law will be circumvented in myriad ways, and any attempts at dissent will be answered by swift, vicious reprisals. However, this is what 49.9% of those who voted in the election have invited.
As for the 36.1% of eligible voters who did not do their civic duty, may they be wracked by guilt.
Trumpism is – as it always has been – built on brazen lies, pandering cynically but effectively to the willfully ignorant and hopelessly gullible. There are too many lies to keep track of, from The Big Lie all the way down to countless daily lies Trump tells as easily as breathing. Yet he has conned enough Americans to let authoritarianism in our front door. Which brings to this reader's mind words widely attributed to Voltaire: "Anyone who can make you believe absurdities can make you commit atrocities."
The year 2025 will begin next week amid many uncertainties – except for one: It's going to be dark.
Yes, dark—even for MAGA too … but you know who it won’t be dark for? Trump, Musk, Senate and House Republicans (clearly the richer party), all those prayer-and-thought keepers …
I wrote a thread identifying the similarity between Trump and the Latin American dictators the US GOP leaders pushed on those countries here: https://bsky.app/profile/chiweeniefella.bsky.social/post/3lc727haphr2p -- I hope we can discuss this tomorrow.
Bummer; it wants me to sign into bluesky to read your post.
see if you can read the unrolled thread on skyview: https://skyview.social/?url=https%3A%2F%2Fbsky.app%2Fprofile%2Fchiweeniefella.bsky.social%2Fpost%2F3lc727haphr2p&viewtype=tree
Nixon and Kissinger were twin evils, and their marriage in ‘68 brought the US an additional 26,000 dead young Americans for an obscene phrase, “peace with honor.” Their grandchildren still populate the American political system.
It’s habitual with the GOP, Ruth! The quest for power and control is more powerful than integrity and decency to them! Glad you’re calling them out! Thanks!
Maybe Lucid could have an info hour on how people try to safeguard our financial lives.
That will be useful to those who do not rely on the programs musk intends to wipe out in order to pay his pathetic, criminally low taxes.
My life will be destroyed. I live on my veteran’s disability compensation (very much earned). We have zero social programs to help people when the government takes your income for themselves.
I'm sorry if I was being insensitive. I'm also worried about Social Security, Medicare, and Veterans benefits. All of what we should expect to reap from contributing to a society that pays out to people who have paid in throughout their adult lives.
I didn’t think you were insensitive at all! I agree with you - a class on protecting one’s finances would indeed be useful. Especially now.
I meant that such a class won’t help people who depend on veteran’s disability compensation, Social Security - regular or SSI, even veteran’s retirement payments. All of those, as well as Medicare, Medicaid and veteran’s healthcare, are slated to be taken away so those in the 1% Club can be even richer. People who depend on these to live usually don’t have enough investments to generate a monthly income. (trump tried to reduce veteran’s disability payments not long after taking office in 2016. No explanation given other than “we’ve determined you’re getting too much”.) When these programs are stopped so many lives will be destroyed, mine included. A bit of savings or one or two small CD’s won’t last long. We’ll end up homeless & if miller has his way, the homeless will be forced into camps. It’s a horrific scenario. One they fully intend to carry out.
I wish I had other income and investments. I wish my service had not had such a high price and permanently altered my life and my ability to work.
I apologize that my comment came across as chiding you. I didn’t mean it that way at all.
Oh swell.
(That's sarcasm, folks.)
Ruth, I am forever thankful that I found you for you always add to my knowledge about what has been and how it influences what will be. We can be prepared for what may come which is all we can ask for when the powers that be are so highly placed and entrenched as they are at this point. Thank you for making us more informed.
Ruth Ben-Ghiat: The felling of the democratically elected Salvador Allende and elevation of Agusto Pinochet was a crime against humanity in Chile that will never be forgiven.
Also, it is interesting that Elon Musk warns that ordinary Americans will have to suffer shortfalls for a while.
How much "hardship" will Mr. Musk undergo?
Oh, that is right . . . The rules apply to the little person, not to the elite.
He lies when he says hardship will be temporary. It will be permanent.
HK was recipient of Nobel Peace Prize as I recall. Thank you for the whole story—appalling.