/biz/ - Business & Finance

nope

We're the Land of Debt Entrapment now.
With a love-hate relationship with Immigrants who actually work hard,
Trapped above a minimum wage law that makes lower level work unattractive to manufacturing,
forcing you to seek higher levels of education that you need to get loans for, that don't guarantee success in your life

The average American's value lies in our ability to buy shit.
We make nothing, are priced out and are too proud for hard labor, and are surrounded by opportunities to entrap us into a loan.

>>18607409
No

It is if you're already rich. otherwise no, not really.

>>18607409
It hasn't been in decades

>>18607624
companies were always going to move overseas where they can pay 3rd worlders pennies a day to do the same thing americans could do whether or not there were minimum wage laws.

Yes, it is. Millennials are retarded who see college and are like “WOOOAAHHHHH YEAH I CANT WAIT TO EARN 150 K PER YEAR WITH MY COMPUTER SCIENCE JOB!!! THANKS FOR RAPING MY WALLET STANFORD! They have no practicality at all, and are just sheep to the slaughter believing that college is the end all be all and they work hard as fuck for that degree and hard as fuck for that measly 90-120k a year. I make that much in the stock market in like a month, KEK. Dumb motherfuckers

Sort of. there is still a slim chance anyone can land head first in dumb luck and make it big the others have to work to survive while being brainwashed by constant ads to go out and buy then when we don't buy we get shouted at by the news and oldfags because were killing the economy

>>18607409
Depends how smart you are and how much effort you're willing to put in. My GF and I went through public/charter school our whole lives and are two weeks away from graduating college. I have a job lined up making $75k with my EE degree and she's attending USC law school with a 50% tuition scholarship ($102k). We are on track to make ~$300k in combined income at 25 since BigLaw pays first year associates $190k + $15k bonus.

If attending public schools and universities in your home country your whole life and being able to make $300k USD a year in combined income by age 25 isn't the land of prosperity, find me a country that is. I wish everyone could live in a nation this based that provides opportunities for those that are smart and work hard.

>>18607713
>(((invisible hand of the market)))

>>18607713
And you can ban their products from entering our markets. But noooooo muh (((free markets))).

>>18607409
On the bright side, this pandemic might be the catalyst America needs to restructure itself.

If you and I dont die, we could see a massive change in how America operates.

>>18607713
If companies are paying pennies on the dollar for 3rd world manufacturing to make goods american's buy, what is the point of the minimum wage law but as to increase the disparity between the 1st Worlder and the 3rd? All it is essentially doing is reinforcing companies to export their labor to less well-off countries, and increasing the profit margins of those companies that are undoing the country.

>>18607741
your GF isn't going to make 200k a year out of law school just FYI. there are fucking millions of lawyers out there and there aren't enough jobs for them all. i used to work as a proctor for the NYS bar exam and there are literally thousands and thousands and thousands of people that take it every year and it keeps going up. she should have gotten into law 30 years ago before it was oversaturated, but she didn't even exist yet, so.

If we don't go back to Made In America, our nation will perish.

We need to stop pretending exporting our labor to communists and modern slavery is doing us any good.

>>18607741
This LARP is so ridiculous, not to mention even if it was true, the number of assumptions about public/charter schools, housing stability, family stability, and other opportunities that were presented by the luck of the draw, that are way outside the average, Electrical Engineers and Lawyers are awful people. In all likelihood, you and your girlfriend have autism. Working with people like you, and working for people like you, just to take home 6 figures, is too large a sacrifice to my quality of life to make that attractive.

Not to mention, you'll probably get stuck in the same debt trap when you have to buy a jaguar or an audi, just to "fit in" to "company culture" otherwise you won't get that promotion.

>>18607409
Yes. Negative, sure, but imaginary.

>>18607741
You're in for a rude awakening. Good luck, though.

>>18607741

Grad lawyers get paid fuck all dont know what universe you live in. Similar to med you dont take home the bag until you slave away and get burned out for 10 years

>>18607812
Which is why you ban the companies because min wage isn't the problem but jews sending american money to china.

>>18607822
Okay bro her LSAT score (168) is the top 96th percentile so out of those millions of lawyers out there she scores higher than 96% of them on her LSAT. 38.5% of USC Law School graduates get BigLaw placement right out school making $200k+. Top 25% of LSAT scores for USC law school admittance is a 167 which is 93rd percentile.

My GF's LSAT score already puts her above the top 25% highest scoring students attending USC. When 38.5% of the class gets BigLaw, and not 100% of the class even tries to land a BigLaw job, so the percentage of people that try for BigLaw and get it is actually higher than 38%. I'm pretty sure you've never taken a probability class but odds are she makes BigLaw with these stats dude.

>>18608128
The Jews didn't export all our jobs, the American consumer did.
We bought cheap, and continued buying cheap because we liked it and now we are surrounded by foreign garbage.

I agree to a ban, though.

>>18607741
Rather be 25 and have a half million dollars of LINK
Enjoy the rat race

>>18607812
Race to the bottom is a thing.

>>18607912
I went to public school my whole life. My GF went to charter school for middle school where she learned Latin and was taking AP classes at 12 then came to my public highschool. My mom has been divorced twice and my dad has never paid child support. My GF's parents divorced twice and her dad died 2 years ago at age 46 from drug and alcohol abuse.

We attend a meme tier state school because we both have the max academic scholarship. Tuition cost has been less than $2k a year for me and my GF had so many scholarships she was getting paid a grand or two to go to undergrad for the first two years. I made $14k+ during this summer alone with my internship for a Fortune 200 semiconductor company making $26 an hour. I'm graduating with 0 debt and a job lined up making $75k starting. My girlfriend is also graduating with zero debt. She got $60k from her dad's life insurance policy so with my 3 years of EE income + the money she makes during her 2L summer internship + the $102k scholarship means she will be able to graduate from a top tier law school with close to zero debt. Sorry you're not as smart as us anon

>>18608056
$190k starting + $15k bonus is market rate for BigLaw

>>18608262
You’re like the perfect wage Animal

Kudos on making someone else rich

>>18608216
>the american consumer agreed to outsourcing

Bush, Obama, Clinton and Trump all won on a platform of unfucking our industry.

one of you can have my corporate IT consulting job. i'm tired after 17 years. i'm going to quit soon i think. $220k/year or so

>>18608394
Nobody wants to actually pay the price of "bringing the jobs back"

>>18607719
how? show proof

>>18607409
it is if you're not a liberal millennial

>>18608216
>>18608427
>Progressive side of the democrats literally want to create a new deal type scenario with 'green' energy jobs across the country
>Both the neolibs and republicans will never seriously consider it

This is why we can never have nice things

More opportunity than Canada that's for sure.

>>18608394
If Trump took this once in a century opportunity to bring our industry back, he would win my vote; guaranteed.

Despite the fact that I think he is the the biggest sucking fucking retard we've ever had in office.

>>18608367
>owns link
>calls people wagie
Lol how I know you're a wagie
I have $10k in my Roth IRA and I'm still in college. $26 an hour 40 hours a week, plus free housing and medical benefits for the summer as an intern at age 21 is pretty cash money - who would I be to complain about any of that?

>>18607409
>negative met

What was negative about who they met?

>>18608505
Yeah you’re a sucker. Also you’re gf is definitely going to get railed every weekend at USC

>>18608361

Fair enough, have there been any pay cuts in the US? My law friends (Sydney) have had pay cuts and were already on pretty low starting pay. Big law must be different.

>>18607409
>The land of opportunity?
Not anymore.

>>18607741
How are people still this delusional about "big law" years after they law degree bubble?

USC is shit tier for big law. I know people who went to Harvard who had to settle for pretty shit wages for 5 years out of school. Taking on $105k in debt in this market is asinine, particularly if you're household income is just $75k in such an expensive area. Tell her to go to a school she can get into for free.

>>18608505
You got 20,000 hours to make my stack bruh. Enjoy years of your life working

>>18608614
Lol bro we've been dating since highschool and I took her virginity. If she were going to cheat on me it would have happened already while she was in her sorority at our meme tier state university. And if she did I would just break up with her immediately. I'm the better looking one in this relationship, but I like smart girls more than I like hoes which is why I love my gf. I'm a 6'2" blonde haired blue eyed dude with an EE degree - women like me.

Her dad and I got along great and had a good relationship. I was the first person she called when he found him dead in his house. Given how much we've been through emotionally I find it unlikely she would break up with me - much less cheat on me.

>>18607409
Didn't millenials rank as the most financially-illiterate generation ever?

>>18608693
Lol join the military, they'll pay off your lawschool denbts and you get to be an officer.

>90% of denbts problems would be solved if people weren't pussies and just joined the fucking army

>>18608144
"law school is always a scam" is a mantra from 2008 that people still repeat a decade later mostly unfounded. if you can get into a top 20 law school on scholarship (I.E the university itself acknowledges you're in the top percentile) and want to go into big law you can easily make six figures starting.

cost of living in california will eat up a big chunk of that 190k but it's still more than the overwhelming majority of people in their mid 20s make with the possibility of earning millions down the line if you make partner

>>18607719
nonsense, and besides college was heavily pushed on millennials the second they hit 12th grade if not sooner.
Not going to college was considered almost unheard of.

>>18608899
>push kids into taking loans
>call them financially illiterate

Meanwhile in boomerville, reverse-mortgages because they won't stop spending money they don't have are all the rage.

>>18608899
>Didn't millenials rank as the most financially-illiterate generation ever?

Pretty sure millenials are fairly frugal for how much they actually spend compared to previous generations

>>18607810
>ban their products from entering our markets
>everything is now more expensive, and you are still a wagecuck

>>18608883
But will you own a citadel

>>18608937
You're not wrong about how fucked college debt is, but I have no sympathy for the ones getting stupid degrees. I also wouldn't put it past boomers not bothering to teach them how to manage finances.

>>18608693
You don't know what you're talking about. LA is the 2nd largest legal market in the country and for the BigLaw firms in LA, USC might as well be Harvard. Also, class rank matters much more than what university you go to with lawschool so your friend from Harvard was probably towards the bottom of their graduating class.

USC sends 38.5% of graduates to BigLaw. ASU, a school that gave her a full ride for law school, sends less than 6% of graduates to BigLaw and the reality is none of those big firms will take anyone from ASU seriously ever. Even the most prestigious law firm in the world arguably, Cravath and Swaine, have partners from USC. Try to find one BigLaw firm with partners from a school like ASU.

>>18608937
boomers are old and gonna die, a reverse mortgage is just admitting "I'm gonna fuck around with extra spending money for the last few years of my life in exchange for fucking over any kids I have by making sure they inherit nothing"
zoomers and millenials don't have that luxury of not caring

>>18608935
Cost of living in CA is criminal. I'm pretty much forced to spend $2k a month on housing for the next 3 years which sucks. My GF and will be getting married on paper Dec 31, 2020 for tax purposes and then have a real wedding once we are older with more money and more friends with money. When you're married making $75k, Idaho states taxes are actually like $1k higher than California - ID has immensely better COL though. Standard deduction going from $12k to $24k is big savings when I'm starting at like $75k. The plan even after she graduates law school is to spend/love off of my engineering salary and then invest 100% of her BigLaw salary.

>>18607409
seriously though, why does he put orange stuff on his face

>>18609008
I have honestly never met someone with a "stupid" degree that didn't parlay it into something else. The problem is oversaturation because of the "everyone should go to college" meme as jews saw they could make money and brainlets have the idea that paper degree=big money, without any of the brains behind it.

Further feeding into this is the war on housewives, factory workers and tradesmen that seeks to declare any profession that isn't living in the city chasing green paper as being unworthy, helped along by soaring costs of living and collapsing manufacturing which drives people into this.

I suppose their largest fault is always that you tell them to join the military or work on an oil rig for a year or two and they scream that it should be free and they shouldn't have to, but I'm pretty sure that type of person is a minority among the masses that are just going along with what they're told and surprised when the system is failing.

>>18609088
Zoomers and millennials don't have to care because all their loans are owed to the boomers who need that money to buy shit. Seems to me we remove the boomers and the zoomers have a lot brighter future all of a sudden.

>>18607741
>>18608144
>>18608262
>>18608361
>>18608505
>>18608883
>>18609009
This is a huge psyop.

>>18607409
no

>>18609009
What’s the percentage you’ll make more than 1.5 Billion? That’s the record for a lawyer, probably just as a meaningless of number as the shit you state to pad the rest of your life working as a cog

>>18608935
What about specialized law? I want to squeeze into the Space Force as a JAG so I can get in on the field of "space law" before it really develops and potentially make millions by being the go-to expert on a field that's less than 50 years old.

>>18608144
>168
>top percentile

Really?

>>18609009
>You aced this test of logic puzzles. Give me $300,000 and I promise you will totally make $190k a year!
>W-what, Law Schools have been exposed for massively padding stats and starting salaries. No that must be fake despite numerous books on the subject. I will act with the confidence of a rich fag because my girlfriend did well on a test.

>>18607741
you must be blind

>>18608978
>flexing 100k link stack to a kid still in college

>>18609206
Yes for 2018/2019 a 168 puts you at the 95.6th percentile.

>>18609237
>>18609205

>>18609222
>be law student
>average age 32
>supposed to be the level above undergrad, top-tier high-IQ "real" college
>"WUT U MEAN I NEEDED A PLAN B4 I GRADUATED AND CAN'T JUST WALK OUT IN MY CAP AND GOWN AND GET A HIGHPAYING JOB?"

>>18608144
>>18609009
>>18609144
>>18609237
>>18609284


There’s no guarantee your girlfriend will get BigLaw. Unless you go to a top ten school, and USC is not even close, you cannot guarantee BigLaw. ASU there’s really no odds short of graduating at the top of your class.

The EE degree helps because she has an advantage with IP but don’t count on graduating in the top third of your class in advance. Law school exams are different from any exam she’s ever taken and the grading can be arbitrary. You do know, Anon, that it’s one exam at the end of the semester?

The median USC student doesn’t get BigLaw and during the recession almost nobody from USC got it. If you want better odds tell her to apply to Berkeley or Stanford. She might have a 1/3 chance at Berkeley.

If you think associates become partner, you’re wrong again. Most BigLaw associates leave in two years or five at the most. Everyone thinks they will be the exception. The chances of making equity partner are equivalent to winning the lottery.

>>18609206
if you work public sector you're not going to make a ton of money no matter what, space force salaries will be government standard since they will have so many people wanting to join just to go into space and have no reason to pay more
being a JAG for the benefits and loan forgiveness is why a lot of people do it
https://www.jag.navy.mil/careers_/careers/docs/JAG_Guide_2018.pdf
>>168 top percentile?
LSAT only goes to 180, a 168 is roughly 95.5-96th percentile.
https://www.lsac.org/sites/default/files/legacy/docs/default-source/data-%28lsac-resources%29-docs/lsat-score-distribution.pdf
>>18609222
you can look at the reported numbers yourself
https://www.ilrg.com/rankings/law/view/165
not everyone who goes is guaranteed to make six figures, you DO need to be in the top percentile of the class and work for a big law firm. However if the school is giving out significant scholarship and you know you can easily be in the top quartile to 10% of your class the career prospects are still solid.

those books you're talking about are not about the top schools. There's thousands of undergraduate universities in america but only 200 accredited law schools, so going to a highly ranked one matters far far more.

if you go to med school it doesn't matter that much where you go as long as you can secure a residency and pick a specialization that pays a lot, for law school you need to be in the top of your class at one of the schools people take seriously, which also has regional differences.

law school is a giant, expensive commitment but it's not as big a trap as people like to claim it is and if you properly understand what you need to do in order to succeed you'll be fine

>>18607409
>Is the US the land of opportunity still?
If there was still anything worthwhile here, do you think they would have let all of these 3rd worlders in? The fucked up thing is these people will never get out of poverty. They came here believing the memes that everyone gets a fair chance here, but the reality is that Whites hoard 90% of the wealth and have taken all of the good stuff, leaving nothing but table scraps.

>>18609435
JAG is pointless. Almost nobody who does it gets a high paying job later.

He was saying his girlfriend was in the top percentiles for the law school she got into. This is meaningless because GPA and scores have a very weak correlation to 1L performance.

If you can’t get into a top 10 school or top 14 with a
major scholarship then don’t go.

>>18607409
>Is the US the land of opportunity still?
Yes. I went to college, failed everything, studied for the MCAT because what the hell and have been doing heme/onc In the northeast for seven years.
Literally if you want to, you can. Good luck doing that in any other country.
It's the land of winners. Bunch of losers, but our best will be better than everyone else's best because we love it, red, yellow, black, or white. fuck china

>>18607719
Millennials only think this because that's the way their parents had it. Their parents told them "just go to college and you'll be set for life", and that's what they did and now they're fucked. And they're parents act like they had nothing to do with it. Lots of them even threatened to throw their kids out of the house if they didn't go to college.

There’s no opportunity here other than the opportunity to live an die as a slave. Boomers were the final generation to be able to enjoy life and they sold our inheritance out to the world. It’s over.

>>18609418
>Unless you go to a top 10 school, and USC isn't even close
Buddy what part of 38% of USC graduates go to BigLaw do you not understand? USC is like 16th and they send a respectable amount of kids to BigLaw. Look at what percentage of graduates from other law schools in the top 20 go to LawSchool it's a similar story:

https://www.lstreports.com/schools/usc/

Also bro I don't know what world your living in where you think the economic outlook for 2023 is worse than right now with coronavirus

>>18609513
Based

>>18609435
>>18609501
Specific experience in space law would translate to something more lucrative as space industries continue to expand, this is more of a theoretical gamble on the blowing up of the space economy and need for people who understand the rules rather than a generic "can this guy do law" idea.

>>18609604
USC Law has never been 16th. Look at the methodology from the site you linked. Their large firms score includes firms employing one hundred lawyers or more. There’s some boutique litigation. firms that pay market salary or more but none of them exist in LA.

Midsize firms don’t use the Cravath scale. The firms you’re thinking of like Skadden employ more than 500 lawyers. The drop in law school applications ten years ago was because so many people couldn’t get jobs. Even people that went to schools better than USC.

>>18609237
And...

If the college goy was so smart, has it all figured out, and making during his internship, he would have put money into BTC, ETH or LINK. Not brag about how he and his girl are going to be wagies sucking the corporate cock for the next 30+ years.

>>18607409
No. America is ground zero for late stage capitalism.

>>18609604
even umn has a 75th percentile private sector salary of $140k while also having enormously lower CoL than most big law cities. being a lawyer is far from a guaranteed investment but it's not as big a crapshoot as some people make it out to be. of course if you can rely on nepotism things are a lot easier but that applies to every field