How to Louse the House in 10 Months

[Botten]

Originally Posted by Castle2.0 [You must be logged in to view images. Log in or Register.]

Who does inflation really hurt more? *facepalm*

Later he goes to admit the wealthy have increased their net worth and are buying stocks... This man successfully talked out of both sides of his mouth to declare he is an imbecile. Well done.

Nothing against the ultra-wealthy, I'm on my way to joining the gang. I am against inflation. It hurts people on fixed incomes and people on lower incomes.

https://www.cepweb.org/inflation-and-inequality/

Inflation hurts rich more than poor.

And yeah you are not joining the wealthy asking others to join you. Mr. Pyramid Bitcoiner promoter

[Toehammer]

Originally Posted by Botten [You must be logged in to view images. Log in or Register.]

First I don’t really care if Castle ignores me. Often he gives off feelings of a conMan; a used car salesman with get rich schemes. His account is fairly old been probably pedaling them for sometime while telling others to join him. Pyramid


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I too was Skeptical until I saw the wages of those paid in the past and the wealth distribution of the past.

For example boomers have no problem owning a home and paying for their education.
An education equals more often a larger salary.
But what if the larger salaries of the past were worth more than majority of the larger wages paid out today.

In 1972 $6 dollars an hour paid to a simple construction worker was equivalent to $39 an hour today.

https://www.in2013dollars.com/us/inf...1972?amount=39

Year after year the Inequality of Wealth distribution of the rich and the poor is getting larger and larger

https://rwer.wordpress.com/2018/11/1...united-states/

Usually It is advantageous for workers to get an education. This is why social programs for education are funded. IE Putting money in to educating your workers yields more wealth for the rich.

https://www.epi.org/publication/stat...h-foundations/

The economy is self healing and the minimum wage does need to go up.

And even without the minimum wage increase.

Salaries are already on the rise and they are the new norm. Starbucks by next year will be paying a new Barista $23 an hour.

https://chainstoreage.com/starbucks-...ing-recruiters

Until the lower class is paid more of a fare share the inflation will keep growing and will not settle.

Those with rich retirement savings just expect what you have to be worth less as it should rightly go to the newer generation that has been robbed year over year by the older generation.

There is a bit to unpack up there but I really should be working in the lab and may come back to this.

Printing more money, mandating higher wages, awarding jobs/contracts with no regard to cost because hey it is always someone else's money, i.e. government intervention, is the root cause of inflation. This is not even debated by serious economists. Education costs go up because of federal loans (this loan stays with bankruptcy, you permanent government slave!), hiring costs go up and wages go down because of payroll taxes, and minimum wage reduces the minimum amount you can pay a worker to ZERO, just hire a machine or eliminate the job! "What would you say you do here?"

When listening to a proponent of supply side economics like Friedman, really listen, you can see he doesn't throw out demand side economics philosophies like those of Keynes completely. Supply and demand are in equilibrium... if either gets out of whack, prices/economics are dramatically affected.

Wealth inequality is the biggest BS, almost as big a red herring as "trickle down economics", which is just a made up term parroted by talking heads. There is nothing wrong with inequality of wealth when the standards of living is getting better. Bezos having a bajillion dollars doesn't affect me if I live a better life than my ancestors. In fact because of those innovators, most of us live better lives. Socialism/communism guarantees equal misery for all.

We don't need minimum wage laws; you mentioned salaries are rising EVEN without minimum wage increases... good. That is a natural demand response to a low supply of skilled workers, all without the government messing it up. The education/jobs are there for the picking if people want to work. As long as the government gets out of the way (except in extreme circumstances) economic machine goes whirrrrr.

The best way for lower/middle class people to become wealthy is to spend less, invest more, and wait. WAIT is the key part... wealth is built over time, period. Exponential growth requires time to ramp up. https://www.visualcapitalist.com/vis...ge-in-america/ . The reason older people are wealthier is because they have had time to receive compounding returns. Time in the market not timing the market, as the saying goes. Boomers have been in the market longer, thus they are further on the exponential growth curve... just math, that's all. We can't get mad at math; we must follow its lead! The older generation is not robbing the younger generation, they are just older and have been in the market.

Every young person should avoid superfluous spending, live below one's means, start investing as early as possible, and always look to reduce costs where possible. The most easily digestible, eye-opening launching point is https://www.mrmoneymustache.com/2012...ly-retirement/ . If all 28 year olds (assuming independent from parents by then) invested 50% of their money in broad-market index funds, they could retire easily at 45. We have a fundamental problem in America with thinking credit is free money... this goes from the liberal arts major with >100k in loans, the government with >30 trillion in debt, and the average household debt >50k. Loan forgiveness, modern monetary theory/inflating the debt away, and credit card payment plans won't solve this problem because it is behavioral. Going into debt is literally stealing from your future self... what kind of short-sighted fool would do this?

It is a tough pill to swallow, but pooer people are worse with money and make bad short-term decisions, and wealthier people are better with money and make good long-term decisions.

Work hard, save more/invest, and wait. It is the only thing that works or ever will.

[Botten]

Originally Posted by Toehammer [You must be logged in to view images. Log in or Register.]

Wealth inequality is the biggest BS...

We don't need minimum wage laws...

Increased minimum wage by state MORE OVER yields MORE money.

State and income year over year vs minimum wage

one.png

Lets just say YOU don't want to work from home for these below states at minimum wage if you live in the above states.

two.png

SO yes minimum wage MORE OVER BY MULTIPLE EXAMPLES does play a factor.

It is a tough pill to swallow, but pooer people are worse with money and make bad short-term decisions, and wealthier people are better with money and make good long-term decisions.

Rich people are just as dumb with their money as poor people.

Poor billionaires: 430 people fell off the list of the world’s richest

Work hard, save more/invest, and wait. It is the only thing that works or ever will.

I would say work smarter not harder.
And if you live in one of the richest countries with one of the lower populations of the world then there is no excuse, no one should go starving or have a lack of an education due to money problems.

Tax the rich and make them pay their fair share!

[Toehammer]

Originally Posted by Botten [You must be logged in to view images. Log in or Register.]

Increased minimum wage by state MORE OVER yields MORE money.

State and income year over year vs minimum wage

Attachment 16274

Lets just say YOU don't want to work from home for these below states at minimum wage if you live in the above states.

Attachment 16275

SO yes minimum wage MORE OVER BY MULTIPLE EXAMPLES does play a factor.



Rich people are just as dumb with their money as poor people.

Poor billionaires: 430 people fell off the list of the world’s richest



I would say work smarter not harder.
And if you live in one of the richest countries with one of the lower populations of the world then there is no excuse, no one should go starving or have a lack of an education due to money problems.

Tax the rich and make them pay their fair share!

Low wages rising under cooperative/competititve means (i.e. NOT minimum wage laws) is a good thing. If there were no minimum wage laws there would be more competition between employers, and likely higher wages across the board. Showing states with higher minimum wages and income is reducing it to a single variable... all that causation/correlation mumbo jumbo. Cost of living, population, urban/rural, etc. all matter.

No rich people are not "just as dumb with their money as poor people"... that is insane. Financial knowledge among the wealthy is much greater. An article posting a whimsical fact about market fluctuations in ONE calendar year of people in and out of the billionaire club has no bearing on wealthy people's ability with money. When riding an exponential curve, annual jumps and dips mean nothing. Wealth building takes place over decades, not years. Over time the people who have been playing the game longer have more wisdom and wealth than newbs... A good primer on equality/inequality is https://www.youtube.com/watch?v=8m70YEB9fUo ... very good teacher, all his videos are great.

I agree work smarter, not harder, but also work hard... can do both.

I am not sure which country/countries you refer to by wealthy & low population, but certainly in the USA people aren't starving for food or education due to money. Lots of social welfare, free public education, cheap goods. Again, where it is worse than others, it is usually due to gov't screwing it up.

What do you mean tax the rich and make them pay their fair share? They already pay more than their fair share. That is the point of a progressive tax system... more you make more you pay. A truly fair system, i.e. flat tax, we could only dream of it!

[Whale biologist]

Originally Posted by Toehammer [You must be logged in to view images. Log in or Register.]

There is nothing wrong with inequality of wealth when the standards of living is getting better. Bezos having a bajillion dollars doesn't affect me if I live a better life than my ancestors. In fact because of those innovators, most of us live better lives.

I think these fuckin' things are why everyone is so unhappy all the time now.

[robayon]

Originally Posted by Toehammer [You must be logged in to view images. Log in or Register.]

In fact because of those innovators, most of us live better lives.

Ever worked in a sweatshop?

[Jibartik]

Originally Posted by robayon [You must be logged in to view images. Log in or Register.]

Ever worked in a sweatshop?

You can thank the democrat party and globalism for that one, we used to have great factories here in America.

Went through hell to correct them after the industrial revolution, and then the hippies said it was xenophobe not to move factories to countries with no laws to protect factory workers.

[unsunghero]

It is worth noting that current wages are not going to be able to meet the cost of living due to cost of living increases. I got more than a 6% raise this year and it’s still barely enough to make ends meet

But I’d prefer prices come down than wages AND prices go up

Edit: I’ve also heard that inflation does somewhat favor those with lots of debt like me. Since now my money (that I don’t have) and my debt (that I do have) are worth less, that’s better than my huge savings being worth less

[Elizondo]

Botten comes into another thread smug and callin peepz dumb

proves to all how low iq he is

[Botten]

Originally Posted by Elizondo [You must be logged in to view images. Log in or Register.]

Botten comes into another thread smug and callin peepz dumb

proves to all how low iq he is

Be rest assured you are the only one whose vocabulary is suffering with your terrible retorts.