It’s all going to burn eventually. It’s a matter of when, not if, the income inequality gets to the point of revolution. and many, many people will die as a result, often innocents caught in the crossfire, or those who depend on things like regular medication delivery and access to steady medical services. But the system corrects by overthrowing those who take too much and give too little.
@Jamileigh17 to follow on your sunny perspective, we threw off the British rule and i wonder if we would be in any different position now if we were still under them as far as wealth distribution. USSR communist ruling party, british lords, us congress people all have (had for USSR) same small group of bad apples who work to protect the wealthy.
So full out revolution won’t solve the problem. It has to be finding those bad apples and voting them out, not tossing out the whole bunch. Educated electorate and transparancy, not “burn everything.”
@communistjack - I don’t buy retail often. I get pretty much everything off the secondary market. I could see how sales at big box stores could release someone’s items to the sale sites or auction.
This guy in charge used to always say “
look how I made the stock market go up!” And it was truly weird, as even though everything he did seemed like it would tank the market, it kept going up, up up.
Now it’s tanked, and the people around him are saying he never said anything about the stock market.
I try not to listen to him anymore, because I’m afraid I might get sucked in to what he was saying.
But, yeah, I guess every % I made this year has been wiped out. …
I have a home town investment guy that charges 2.5% and I’ve never gotten over that. I like to support my town, but when he keeps adding on to his house, it’s hard to keep being trusting.
yeah, this topic hit a nerve, I guess.
The Mongolian Death Worm is a strange snake-like animal that lives in the Gobi Desert. Scientists do not know if it really exists or not.
People who have seen it say it is like a red, fat worm around 2 – 4 feet long. People who live in Mongolia call it allghoi khorkhoi. These people also say the creature spits yellow poison that will kill you as soon as it touches you and it can produce electricity so powerful that it could kill large animals.
Economics is a lovely mix of human initiative and creativity, education and ideas, productivity, resources, legal systems, transportation systems, exchange systems, political systems, many hard facts, and, notably, human delusions.
@InnocuousFarmer You ought to be more terrified of demography and what impact that is going to have on the stock and bond market, the price of large homes, etc.
@Kidsandliz That’s what I mean! Listening to parents complaining about even the possibility of social security means testing, with them having retirement accounts, pensions, supplemental income, and social security. Sure thing guys. Just age right out of the working demographic while population growth slows down as wages have been stagnant forever. I’m sure nothing could possibly go wrong.
@InnocuousFarmer As one of those pensioners who is worried about Social Security being moved out of my reach, here’s my perspective. I planned my retirement around a savings account I’ve been paying into since I was 16 years old called Social Security. My pension is fixed and only 2 years in its buying power is already down nearly 5% due to inflation. Me, my house and my car are all getting old, and getting old is expensive. Maintenance costs for all three of us get higher every year as my pension steadily loses ground. I knew all that going in, but I only have to struggle to make the widening gap meet for a few years till my social security is supposed to kick in. Move that goal, and I won’t be able to make ends meet, and as a senior who’s been out of the work force for a while my chances of finding work are pretty slim. If there’d been a plan to restrict Social Security prior to my retirement, I’d have kept working. Instead I yielded my good paying job with great benefits to a younger person, with a solid retirement plan to carry me through. The odds are good that’s the case for a lot of the jobs held by people complaining about seniors dragging them down with Social Security. Would they prefer we’d kept our jobs another ten years and left them with even fewer career opportunities? No problem. Give me the funds plus reasonable interest that I paid into Social Security over my 40 years of employment and I’ll manage my own finances.
@moondrake I do get that. Presumably, though, you’d not be in the category that gets reduced income because of means testing. (I’ve read the odd thing about degrees of reduction in payments, nothing as dramatic as cutting people off entirely.)
As far as I’ve heard, social security was supposed to be a pension for everyone in the nation, but was almost immediately cut into in an irresponsible fashion, so that the money is no longer entirely there. Where was the outcry when it was easier to fix? And now that it’s still not fixed, I don’t see how that’s going to change by executing exactly the same plan that never met reality.
Maybe I’m missing something, but it does seem to me like there’s this wide insistence that, analogously speaking, a bankrupt company pays 100% of its obligations to 100% of its lenders. Reminds me of the Indiana Pi Bill.
I’m on a long enough investment timeline that stuff like this doesn’t really phase me.
I have one group of index funds I’m tempted to buy and sell with obvious market swings, but the smart side of me knows that’s usually a foolish thing to do, so I haven’t so far. However, like others, I’m anticipating a big correction soon, so I’m really tempted to convert to cash or bonds where possible.
bitcoin
@awk
ZCash
@awk bitcoin cash
@awk @DVDBZN Buckmeh
@mehcuda67 https://garlicoin.io/
I’m just mad all my beenz are worthless
I finally sold.
(though I just moved it all to the Coinbase US Dollars wallet, so I am essentially quitting smoking by putting the cigarettes in a drawer…)
@Moose Like recently sold or before this current dip?
@medz Yesterday. I still came out on top but I couldn’t watch it drop any more.
@Moose My plan is to try to forget about it for like 5-10 years and let it ride…
@Moose
That’s when you should
/giphy back up the truck
It’s all going to burn eventually. It’s a matter of when, not if, the income inequality gets to the point of revolution. and many, many people will die as a result, often innocents caught in the crossfire, or those who depend on things like regular medication delivery and access to steady medical services. But the system corrects by overthrowing those who take too much and give too little.
@Jamileigh17 You must be a blast at parties.
@Jamileigh17 We’ll just grind up poor people to make protein powder and solve several problems at once.
@awk only $34 on amazon https://www.amazon.com/Soylent-Replacement-Drink-Original-Bottles/dp/B01EUEIL3E
@Jamileigh17 to follow on your sunny perspective, we threw off the British rule and i wonder if we would be in any different position now if we were still under them as far as wealth distribution. USSR communist ruling party, british lords, us congress people all have (had for USSR) same small group of bad apples who work to protect the wealthy.
So full out revolution won’t solve the problem. It has to be finding those bad apples and voting them out, not tossing out the whole bunch. Educated electorate and transparancy, not “burn everything.”
@communistjack Why are so many people pushing Soylent on me here…
/giphy side eye
EDIT: It was @communist before… now I’m getting really suspicious
/giphy commies
More importantly: whey or soy?
@shahnm Soy? No whey!
I prosper when the economy suffers
@meh427 Are you heavily invested in liquor companies?
@meh427 Store closing = store closing sales
i loved the 50% off day at my local closing sams club
@awk - no, but I give them money as often as I can.
@communistjack - I don’t buy retail often. I get pretty much everything off the secondary market. I could see how sales at big box stores could release someone’s items to the sale sites or auction.
This guy in charge used to always say “
look how I made the stock market go up!” And it was truly weird, as even though everything he did seemed like it would tank the market, it kept going up, up up.
Now it’s tanked, and the people around him are saying he never said anything about the stock market.
I try not to listen to him anymore, because I’m afraid I might get sucked in to what he was saying.
But, yeah, I guess every % I made this year has been wiped out. …
I have a home town investment guy that charges 2.5% and I’ve never gotten over that. I like to support my town, but when he keeps adding on to his house, it’s hard to keep being trusting.
yeah, this topic hit a nerve, I guess.
@wew It’s only wiped out if you sell.
@wew I felt bad about this post all day. I don’t think it was the time or place to go off. I’ll try to engage my brain before posting from now on.
@wew
I’ve found that sort of behavior to be overrated.
The Mongolian Death Worm is a strange snake-like animal that lives in the Gobi Desert. Scientists do not know if it really exists or not.
People who have seen it say it is like a red, fat worm around 2 – 4 feet long. People who live in Mongolia call it allghoi khorkhoi. These people also say the creature spits yellow poison that will kill you as soon as it touches you and it can produce electricity so powerful that it could kill large animals.
@DVDBZN Do Death Worms invest in the stock market?
@daveinwarsh I think Death Worm is a metaphor for leveraged short volatility instruments.
@daveinwarsh
I doubt it. Although, with how little we seem to know, I would not be surprised if that was the case.
@DVDBZN Interesting I wonder if Mongolian language shares some with Romanian as they call vampires strigoi or some close variation.
@awk
You are overthinking it. I just wanted to start a conversation on cryptozoology.
@DVDBZN - How about starting a thread?
Who’s paying me to vote in this poll?
FULLY AUTOMATED LUXURY GAY SPACE COMMUNISM NOW
I was getting uncomfortable for lack of a correction. I feel better now.
Long term, I am still terrified. “Exponential growth forever and ever”? That’s not a system for retirement. That’s magic.
(Also I picked up some idea somewhere about shareholder profits generally conflicting with wages, so now that’s rolling around in my head.)
@InnocuousFarmer
Economics is a lovely mix of human initiative and creativity, education and ideas, productivity, resources, legal systems, transportation systems, exchange systems, political systems, many hard facts, and, notably, human delusions.
@InnocuousFarmer You ought to be more terrified of demography and what impact that is going to have on the stock and bond market, the price of large homes, etc.
@Kidsandliz That’s what I mean! Listening to parents complaining about even the possibility of social security means testing, with them having retirement accounts, pensions, supplemental income, and social security. Sure thing guys. Just age right out of the working demographic while population growth slows down as wages have been stagnant forever. I’m sure nothing could possibly go wrong.
@InnocuousFarmer As one of those pensioners who is worried about Social Security being moved out of my reach, here’s my perspective. I planned my retirement around a savings account I’ve been paying into since I was 16 years old called Social Security. My pension is fixed and only 2 years in its buying power is already down nearly 5% due to inflation. Me, my house and my car are all getting old, and getting old is expensive. Maintenance costs for all three of us get higher every year as my pension steadily loses ground. I knew all that going in, but I only have to struggle to make the widening gap meet for a few years till my social security is supposed to kick in. Move that goal, and I won’t be able to make ends meet, and as a senior who’s been out of the work force for a while my chances of finding work are pretty slim. If there’d been a plan to restrict Social Security prior to my retirement, I’d have kept working. Instead I yielded my good paying job with great benefits to a younger person, with a solid retirement plan to carry me through. The odds are good that’s the case for a lot of the jobs held by people complaining about seniors dragging them down with Social Security. Would they prefer we’d kept our jobs another ten years and left them with even fewer career opportunities? No problem. Give me the funds plus reasonable interest that I paid into Social Security over my 40 years of employment and I’ll manage my own finances.
@moondrake I do get that. Presumably, though, you’d not be in the category that gets reduced income because of means testing. (I’ve read the odd thing about degrees of reduction in payments, nothing as dramatic as cutting people off entirely.)
As far as I’ve heard, social security was supposed to be a pension for everyone in the nation, but was almost immediately cut into in an irresponsible fashion, so that the money is no longer entirely there. Where was the outcry when it was easier to fix? And now that it’s still not fixed, I don’t see how that’s going to change by executing exactly the same plan that never met reality.
Maybe I’m missing something, but it does seem to me like there’s this wide insistence that, analogously speaking, a bankrupt company pays 100% of its obligations to 100% of its lenders. Reminds me of the Indiana Pi Bill.
It’s not a whole lot different than sitting at the poker table.
Watching someone else play with your chips…
Just a head fake, but the shot clock is still running down
/giphy I’m not listening
I’m on a long enough investment timeline that stuff like this doesn’t really phase me.
I have one group of index funds I’m tempted to buy and sell with obvious market swings, but the smart side of me knows that’s usually a foolish thing to do, so I haven’t so far. However, like others, I’m anticipating a big correction soon, so I’m really tempted to convert to cash or bonds where possible.
http://www.clickhole.com/video/dont-understand-bitcoin-man-will-mumble-explanatio-2537