/biz/ - Business & Finance

>>15833243
HMMM, PERHAPS BECAUSE HOUSES COST MORE THAN FUCKING EVER CARS ARE A HUGE INVESTMENT PLUS INSURANCE AND FUEL AND ANYTHING YOU TOUCH MAGICLY COSTS 20% LESS OVERNIGHT.

the majority population has always been poor retards since forever. They dont matter

>>15833243
I am buying Monero like an absolute beast right now. Does that count?

In 1964 gold was 35$/oz, so a min wage worker could buy an ounce of gold after a week paycheck.

Today gold is at $1,500....so it takes aa min wage worker today an entire months paycheck to buy that same unce of gold a min wage worker 60 years ago could purcahse after only a week.

I dont even blame millneials for wanting socialism, because it is impossible to save now that wehave had the fed for 100 years and been off the gold standard for 50 years.

Liberals are 10000% right about "income inequality" but they just have no fucking clue HOW it is happening. They think the corps are hoarding money....which is literally retarded. First off these poor people arent paying taxes or buying these corporatioins products anyway...so how does taxing them to give it back to the poor make sense when they never gave the corps money to begin with.

These fucking idiots cant comprehend they are poor and everyone is getting poorer because prices are rising.

the right doesnt understand either, since with the min wage debate they say muh min wage isnt supposed to be a living wage, get more educated and youll make more. Now this is good advice, but doesnt get at the root of the problem in that they cant make ends meet because of massive inflation.

>>15833305
everytime i visit i somehow find an incrementally dumber poster. congrats, it's you this time.

>>15833243
It’s almost like everything has gotten 3x more expensive over the past 2 decades but salaries haven’t gone up and boomers refuse to retire and give up their high paying positions because they were retarded bugmen that blew their money on mustangs and remodeling their man cave instead of saving for retirement.

I dunno, but most millennials I know spend nearly every penny they have and then some. A few others are saving, but only because they've had "save money" pounded into their brain since birth.

I'm wondering if so much money is being used to pay off interest attached to debt that credit and loan companies are the ones taking the money and it's going upstream to rather than cycling to different companies outside of said credit and loan companies.

>>15833243

Stagnate or even lower wages while importing cheap asian/indian street shitters, and making everything contract/gig work?

This is what you get. And you'll like it, and continue to eat shit and watch your economy burst.

>>15833243
Crypto is my savings so I rarely have cash for stupid boomer shit

>>15833243
boomers are getting scared

>>15833313
So a min wage earner in 1964 had markedly more purchasing power than a min wage earner today. A min wage earner back then could easily cover essentials whereas a min wage worker today cant even afford a shitty apartment.

Also...the avg rent in NYC was 40$ in the 1940's. 40$ back then is equivalent to about 750$ today....and the avg NYC rent is $3,800 today.

>>15833283

try getting a job

>tfw millennial who buys literally nothing at all and grows all my own food

>>15833319
this isnt boomers fault its the Fed fault and going off the gold standards fault.

>>15833313
>another socialist doomer schizo paragraph posting faggot
take your meds or die

>>15833243
>American capitalists: don't want to pay people good wages and want to move all jobs to Asia
>Also American capitalists: WHY U NO BUYING THING WITH MONEY U NO HAVE BC I NO PAY U

I only buy groceries, gasoline, and the occasional household supplies.

>>15833324
But it was 10 times easier to save money and get ahead under a gold standard. Read my posts above.

>>15833315
Glow harder alphabet boy

>>15833374
I agree with you about buying power being greater back then. I'm also thinking about how wages themselves have stagnated as technology took off with increased productivity in the 70s.

>>15833356
Im saying millenials who want socialism are wrong, but they are 1000% right about "income inequality" they are just too brainwashed and stupid to understand that the income ineqaulity they are 1000% correct about is because the jews are confiscating all our wealth through inflation via the Fed.

99% of the country is absolutely retarded....oh look trump is doing good wages are rising while nobody on either side questions why the fuck prices are rising so wages have to keep up.

Its literally the twilight zone.

Keynes himself said openly in his book (and we know keynes was anti gold) -

“By this means (central banking and no gold standard) government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft.”

>>15833356
I’ll bet you’re an angry little manlet aren’t you.

>>15833243
He have become the scapegoat of the 21st century since boomers refuse to take any responsibility for NAFTA, the 08 recession, and all other failings. I can't wait until I'm in my 50s and 90% of the boomer generation is dead.

>>15833243
The economy has been set up as a ponzi scheme to steal from the future to benefit the present. The check finally needs to be cashes and millenials living standards are the payment.

And think of this, Millenials are stupid enough to vote Democrat to make this system worse. Not that Republican's are going to do anything about it, but the Dems have literally lost their mind.

Imagine being Obama and seeing the date that Medicare and Medicaid are going to go insolvent and saying "ha, I bet I can make it happen 5-10 years sooner! by then I'll be out and have several book and netflix deals, and I can give speeches about how much better things were when I was president"

Ron Paul running as a Republican was literally the last chance we had.

>>15833335
That's by design bro. Using minimum wage isn't really a good way to compare the past to the future. They have purposely not let it rise to make it effectively non existent. Of course the real minimum wage is $0 etc. etc.

>>15833313
MAJOR flaw in your argument here

>They think corps are hoarding money

They are. Their stock prices go up, record crazy profits, reel in tax benefits because politicians get votes by advertising "they will bring jobs", but in return its just another company that will hire minimum wage workers and offer no healthcare.

2nd, is considering corporations as a "human" with rights.

3rd, The amount of offshore accounts and accounting practices prevent them from paying any taxes at all. If they're not paying taxes, guess who's paying for roads, welfare, education, etc...the middle class people...but what I should say is, anyone that receives a W2 and small businesses that are not publicly traded.

4th, how is a board members' salary worth almost 100:1 more than the lead R&D personnel along with any marketing team.

5th, I recorded $100k last year in wages and got fucked up the ass by paying almost 40% of that between state and federal. But here's the kicker...half of that was due to short term capital gains taxes. I couldn't wait a year because of a volatile market. So now my slave wage salary of $55k fucks over the money I risked with little that I had. But ultra-rich people don't get paychecks. They get 1099s and only pay 15% because they have the funds and resources to hold for more than a year on their investments.

Corporations and wall street investors are a serious problem, only because they've bought the politicians that allow them to do what they do. Therefore, what they do is LEGAL, but considered highly unethical. The system is highly rigged against anyone who gets a W2. It's as easy as that. Ultra-rich people only care about their 2% gains, even if it means killing off thousands of people in another country, and destabilizing their governments for their natural resources so they can sell it to the W2 people for 25% of their paychecks, when they get it for essentially free, and dont pay any taxes on their profits.

Fixed your claim.

>>15833243
>why aren't millenials buying X? lol
because wages have stagnated while hard assets have exponentially increased in value lol

I get that it's funny pointing out how shitty our end of the stick is but jesus fuck what else is there to say about it?

>>15833492
This is so true it hurts

I work with a guy roughly my age, a millennial. We are in IT, so we earn a fair bit of money each. Not Bay Area money, but pretty decent. He makes 84k/y, which is way above the median income for our city. His only major recurring expense is rent, which is less than half his monthly take home pay. He doesn't own a car (walks to work) and has no outstanding debt, no financial dependents (lives alone). He should be rolling in hay right? Saving like crazy, able to invest thousands of dollars a year into whatever? Wrong, he lives paycheck to paycheck. Sometimes he has to skip lunch or beg for somebody to buy him food because he is perpetually broke.

How does he manage this? He subscribes to literally every online streaming service and entertainment package there is a subscription for. Donates hundreds of dollars to political causes. Spends thousands of dollars on video games and related merchandise. Once he got a $2000 bonus, spent it all on a gaming shit.

And he's not really an outlier, I've found. Most of my peers in the millennial age range behave in a similar manner. They're not all as extreme as him, wasting money so they are always broke, but it's sorta the same: they feel compelled to spend a majority of their monthly income. It's lime millennials feel an allergic reaction to building up wealth.

>>15833333
i came all the way here for this shitpost.

>>15833411

>Im saying millenials who want socialism are wrong, but they are 1000% right about "income inequality" they are just too brainwashed and stupid to understand that the income ineqaulity they are 1000% correct about is because the jews are confiscating all our wealth through inflation via the Fed.

this is just a symptom of capitalism working as intended, one group of people will always end up with everything and the rest with nothing, sure it's convenient to just say it's the jews so you don't have to put any blame on the system itself but this is literally how it will always happen, white capitalists aren't going to be benevolent and give their shit away either just like the jews don't, they'll always take everything they can and buy the government power in order to do it

>>15833604
Why are there rules in sports?

But there should be no rules in making money? It's very easy to win a game when there are no rules, or its tipped to one side.

>>15833492
This. I have known since I was a teenager that the institutions boomers put so much faith in, social security, etc, would not be available to me, that after 2008 all that awaited me was the crushing burden of supporting an aging population of boomers.

>>15833333
quints of our generation

>>15833624
>It's very easy to win a game when there are no rules
Actually it is literally impossible to win a game if there are no rules. The rules are what defines winners and losers. Without rules you don't even have a game, you just have anarchy and "winning" is being the last man standing. With rules you have order. Order is not the same thing as fairness, but there you go.

>>15833333
checked and based

>>15833648

I did say "...or tipped to one side"

But I understand where you're coming from; however, the rules are tipped to one side, therefore it's an unfair game.

>>15833333
checked

>>15833243
CONSUME CONSUME CONSUME CONSUME CONSUME CONSUME CONSUME CONSUME CONSUME CONSUME CONSUME CONSUME CONSUME CONSUME CONSUME CONSUME CONSUME CONSUME CONSUME CONSUME

>>15833411

I'm intimately aware about how our wealth is being confiscated by the federal reserve, but what I am really curious about is if the big shots at the top of the Fed and other central banks know what they are doing and if it is intentional or not. Considering that a rudimentary analysis of how inflation affects the economy almost always leads to one adopting the view that it is ultimately shit and redistributionary, how can central banks unironically pursue these policies for literal decades without stopping for a moment and thinking about their actions and the harm they are doing to the working class primarily?

I know for a fact the low level analysts are all brainwashed into believing the Keynesian/Monetarist BS so I can't really blame them, but if it turns out that the leaders of these central banks know what they are doing and are supporting the inflationary regime for more... nefarious reasons, I think there need not be any more justification for the guillotine to be brought out.

>>15833741

It really is baffling that only heterodox economists like the Austrian school are even raising criticisms to this incredible theft of purchasing power, and if there really is an greedy reason behind it I think that this global inflationary regime will be recorded as one of the greatest scams in the history of mankind and I'm sure future generations will look at us like we looked at those who believed the Sun revolved around the Earth.

>>15833333
astronomically based

>>15833741
beyond money is power. Power and enslavement is the ultimate end game.

But what confuses me about a few people's thirst for power, is the fact that they can't live forever, and 20% of the last years of existence on this planet is living a life where you're bound to have medical issues. Look at Bush Sr, McCain, and even Reagan.

I don't get it, nor will never understand. We are a spec of dust compared to the universe, but we would rather destroy the lives of 99% of people on this planet for the utmost selfish gain, only to live like a king for such a small amount of time before you're turned into worm shit.

>>15833333
honestly based

>>15833333

>>15833333
The man has spoken. All in btc

>>15833795

So you think there really is a hidden agenda behind the central banking regime?

>>15833795
>But what confuses me about a few people's thirst for power, is the fact that they can't live forever, and 20% of the last years of existence on this planet is living a life where you're bound to have medical issues.

Hmmm... almost as if there was something after life...

>>15833818
meh....

>>15833344
This kek. Kids these days are just afraid of a little elbow grease

>>15833243
as a 25 year old, I bought 30k worth of crypto and precious metals this year alone.

>>15833818
they play the long game. just get rich and you'll be happy

>>15833854
kids these days are just lazy. when I was 18, my pops kicked me out - I had to work 5 days a week at the local hardware store and by the time I was 21 I had a house, a wife and two kids.

Honestly these youngins are hopeless.

>>15833818
The way all the chips are setup, its so obvious. There is enough wealth and knowledge on this planet to enable humans to live on celestial bodies outside of earth and explore our solar system easily in the next 10-20 years, because we'd have enough automation to take care of all the dumb shit.

If those funds were invested right, there would be one job for humans to do: Imagine and explore. Which would then lead to all those poor people into education and contributing something far more superior than a plastic injected dildo for some faggot on the internet.

>>15833841

Are you commenting, agreeing, disagreeing?

Because that's what I was trying to lead to.

millenials waste all their money they just aren't buying anything that boomers are selling

>>15833243
You know who is responsible right?

>>15833931
Someone post the Elon meme.

>>15833893
these kids have it so good. i used to have to walk through 5 miles of snow every day to get to the local grocery store and work my shift. if these dumb kids would just save, they'd be able to buy a house, only took me 3 years to pay off.

>>15833588
My first real job was 26 an hour. Was doing 40-50 hour weeks for a year. Saved up 23k in just that year from nothing. Only expensve was 400 car/insurance and gas etc, my car gets almost 50mpg so even though I put 30k miles on it it wasn't really much money.

I bought a fair amount of shit but nothing major, being able to look forward to a book or a new tool at the end of the week is nice, I'd spend maybe 30 a week on amazon. Meanwhile EVERY SINGLE ONE of my coworkers purchased a truck. 1 raptor and 2 silverados, fucking idiots, no wonder even with perpetual overtime they're paycheck to paycheck

>>15833333
Pretty fucking based my guy

>>15833534
>I couldn't wait a year because of a volatile market.

Found your problem bro

>The system is highly rigged against anyone who gets a W2. It's as easy as that

U don't understand; why the fuck would the market be rigged to favor short-term gamblers such as yourself, also, long term gains are crippled by the lack of inflation adjustment in calculation of cost basis.

Stop believing the conspiracy theories

>>15834011
just wageslave for 50 years bro you might be able to afford a shitty house by the end

>>15834049
That's when I totally rethought my life choices. I was working my dick off on critical shit that could get people killed. All so that if I did that for 15+ years with no kids or a wife I could buy an overpriced house here

What a joke

>>15834041

Why defend the existing rules?

There are many way around this that can still be fair and still uphold the very arguments you claim.

Why is short term capital gains part of my wage slave income? It can't be two incomes taxed differently? Would that not make sense? Or how about anyone that exceeds making a lifetime of $1 million dollars are allowed to have a flat 15% on their capital gains taxes? There's so much more that can be done to help those who recieve a W2 to invest in the market, but its all rigged that they simply can't

>>15834071
what do you do now anon?

>>15834093
*correction: I mean to say,

Anyone who doesn't exceed a lifetime wage amount of $1million only pays a flat 15% tax of capital gains investments.

>>15833588
Lots of Millennials do this shit. It's an obvious sign that they were emotionally abused/ignored as children by their shitty Boomer parents and are trying to reclaim the childhood that they lost by buying gaming shit and not wanting to grow up. And the parents know that they fucked up so they don't say anything to them.

>>15834106
I'm back in school now ironically, luckily it's free for me. I'm still not too sure what to do, the most I could make outside of dream gigs or government contracting which denied my resumes wouldn't pay over 55k

I can't do blue collar shit anymore, but I do it still for bills to get paid. Was driving me insane working with mouthbreathers all day.

>>15833344
>go to college
>get in debt
>graduate
>apply to entry level job
>10 years experience and 3 coding languages required
>minorities and women get priority
>lie on resume about being native american or some shit
>starting pay $16 an hour
If I manage to stay employed with the company long enough, I might accumulate 10k in my 401k. Thanks boomers!

>>15833243
It's the BOOMERS fault for thinking everything increases in value endlessly and younger people will keep the system going.

It's gonna all come crashing down and BOOMERS will soon DIE

>>15833243
i buy tide pods and baseddrinks every other day

>>15834093
>Why is short term capital gains part of my wage slave income?

Because your aggregate income is used to put you in a "tax bracket" capital gains are part of aggregate income.

In a year where the aggregate income is low, as for retirees, the lower tax bracket resembles the lower capital gains taxes. The reason long term capital gains aren't taxed as highly is because this lowers the price of keeping money in investments.

You are free to argue that we should raise taxes on people retiring today who have $1M in their 401ks, but that amount has to sustain withdrawals and drawdowns over their expected lifetimes, these days, could be as long as 35-40 years.

Additional return on invested capital is also in many cases exposed to market forces. So the bias is clearly toward long-term, compounded interest.

This is why polticians talk about taxing certain "brackets" to raise revenue and not capital gains. It would be widely unpopular. As for the W2 hodlers, their investments will compound interest as the current crop of investors. Expected outcome of long term investments is very good.

tl'dr W2 payers should save and invest. The best a clever W2 holder and short term trader can do is be aware of the range where tax brackets change and be strategic about selling that triggers capital gains within the tax year. For example, making sure you only have aggregate income at $79,999 or less if the tax bracket starts at $80k to avoid a jump of 5-10% in taxable income

>>15833333
checked and based

>>15833243

>>15833313
Stop using math and studying history. Especially economic history.

>>15833313
>In 1964 gold was 35$/oz, so a min wage worker could buy an ounce of gold after a week paycheck.
>Today gold is at $1,500....so it takes aa min wage worker today an entire months paycheck to buy that same unce of gold a min wage worker 60 years ago could purcahse after only a week.

Apply the same logic to buying Berkshire Hathaway in 1964 or just the stock market index tho