In a letter to the WTE, Mr. Joe Plowman lamented his loss of $1,000 in the stock market on Sept. 30, giving heavily ironic thanks to a bunch of recalcitrant Republicans in Washington who wanted “to play with the U.S.’s good faith and credit.”
This, of course, means that there was delay until the afternoon of Sept. 30 until a continuing resolution to fund the government beyond that date was passed and signed. Crisis averted. How unfortunate that Mr. Plowman chose this particular tiny window of time to sell some of his stock market holdings, losing $1,000 on the transaction. The timing couldn’t be worse; but were he able to do so, Mr. P should probably have tried to hold tight to his portfolio, riding out the blip and perhaps incurring only a paper loss.
He termed the $1,000 loss “a lot of beer money that just flew out the window.” And that’s a lot of beer. Looking at one popularly priced beer (not the cheapest), that works out to be a bit more than 1,412 12-ounce cans. Were one to drink a six-pack every day, this beer money would run out after about eight months and three weeks.
If the writer wished to speak of a $1,000 loss that didn’t come from the slow passage of a continuing budget resolution in Congress, he might wish to look toward inflation which, under the present administration, appears to have taken an alarming uptick in the prices of food, building materials, natural gas, motor fuel and many other commodities – perhaps even including (heaven forbid) beer.
In a postscript, the writer asks his readers not to get him started on the Democrats, whom he finds to be just as corrupt as their Republican counterparts. The writer really shouldn’t impose such a limit on himself, but should begin the complex job of picking apart the policies of the Democrats. Many could believably argue that the current administration bears much of the responsibility for worsening inflation. However, as today’s Dilbert notes, also with heavy irony, inflation is meaningless unless you try to buy something.