|
Subjunctive posted:No, the solution is to abolish tuition and stop making education a commercial transaction. We did that down here in Australia once.... "Gough Whitlam posted:The Whitlam Government implemented a large number of new programs and policy changes, including the termination of military conscription, institution of universal health care and free university education, and the implementation of legal aid programs. With the opposition-controlled Senate delaying passage of bills, Whitlam called a double dissolution election in 1974 in which he won a majority in the House of Representatives, albeit a slightly reduced one, and picked up three Senate seats. The government and the opposition then had equal numbers in the Senate where they again voted against the six trigger bills which had formed the basis for the 1974 double dissolution. The Whitlam government then instituted the first and only 1974 joint sitting enabled under s. 57 of the Constitution as part of the double dissolution process. All six of the 'trigger' bills were then passed at the Joint Sitting in August 1974. So now not only do baby boomers continually carry on about buying a house with no concept of how expensive they are now, they also have no idea how much a university degree costs either because they likely never had to pay for one.
|
#
?
Jan 22, 2016 06:01
|
|
|
|
| # ? May 30, 2024 02:42 |
|
|
Rudager posted:We did that down here in Australia once.... The part about houses sounds like a non-sequitur to me. Oh so times have changed and they haven't noticed and refuse to look at the numbers? Yeah some 1974 bills are at the root of it. Sure. As for the "cost" of a university degree, do you think it costs what US universities are charging? I doubt it, Also I seem to remember that the rise in productivity, even for those who don't use their degrees in the end, is a massive boon to the economy. Isn't it like that? And that's without going into how education, as part of well being, is what the state should be about, not tax breaks for the rich. VVVVVVV You know what? Sorry I raised to the bait. Shutting up. Dawncloack fucked around with this message at 06:27 on Jan 22, 2016 |
|
#
?
Jan 22, 2016 06:19
|
|
|
EugeneJ posted:So the 2016 candidates have the following proposals: Dik Hz posted:Ban anyone who posts D&D poo poo in here. tia.
|
|
#
?
Jan 22, 2016 06:23
|
|
|
EugeneJ posted:So the 2016 candidates have the following proposals: The cynic in me says that I'm going to finish paying for my exorbitantly expensive professional degree with well over $100,000 total interest on top just in time to get levied with a new tax to help everyone else pay for their student loans.
|
|
#
?
Jan 22, 2016 07:33
|
|
|
Dawncloack posted:As for the "cost" of a university degree, do you think it costs what US universities are charging? Not even loving close, I think my Comp Sci degree was about $20-25k and my wife Nursing degree was similar, but because there was a big lack of nurses when she was doing it she got a lot of discount benefits and ended up only costing like $10k. Also HECS/HELP is I get what you were trying to say, and I don't disagree with you, but it's annoying listening baby boomers talk about how you HAVE to buy a house, and you HAVE to go to university without really understanding what that means or costs in this day and age. Don't get me wrong, I'm very pro things like Universal Health Care and free university education and I think Gough would have been a loving awesome prime minister to be living under, but unfortunately I was born too late.
|
|
#
?
Jan 22, 2016 08:34
|
|
|
Rudager posted:I get what you were trying to say, and I don't disagree with you, but it's annoying listening baby boomers talk about how you HAVE to buy a house, and you HAVE to go to university without really understanding what that means or costs in this day and age. My dad came to me one day to very earnestly inform me that I should buy a house because *usual stupid arguments*. Nothing remarkable about it other than he said it in loving 2011, years **after** the massive, enormous, incredible real state bubble in Spain had popped. He lost BIG in that. loving boomers and their inability to listen or take facts into account.
|
|
#
?
Jan 22, 2016 08:40
|
|
|
Dawncloack posted:OOooh brother, do I feel your pain. "Sounds good, are you going to help with the down payment?" should probably be the only reply, possibly followed by "If you want to find an affordable home for purchase, feel free to show me."
|
|
#
?
Jan 22, 2016 08:50
|
|
|
Moneyball posted:There are two kinds of people in this world. Those who have never lost money in the stock market, and this guy http://www.marketwatch.com/story/help-my-short-position-got-crushed-and-now-i-owe-e-trade-10644556-2015-11-19 Can someone explain how this works? What is holding short and how does it make you own money to etrade?
|
|
#
?
Jan 22, 2016 15:01
|
|
|
Lysandus posted:Can someone explain how this works? What is holding short and how does it make you own money to etrade? http://www.investopedia.com/university/shortselling/shortselling1.asp
|
|
#
?
Jan 22, 2016 15:19
|
|
|
Lysandus posted:Can someone explain how this works? What is holding short and how does it make you own money to etrade? A short essentially a bet that the stock will do bad instead of the regular bet that it will do well. Say you invest $100, and the stock price is $100 a share. In a regular long position. If the stock price goes to zero you lost all your money. If the stock price doubles you have double your money. Triple and you have triple ect. In a short position if the stock price falls you doubled your money. If the doubles in price you lost all your money. If it more than doubles you lost more money than you started with.
|
|
#
?
Jan 22, 2016 15:23
|
|
|
E: beaten A short position in a nutshell is borrowing shares (for a fee) and promising to return the shares in the future. His bet was that the shares would be worthless when he had to return them (he profits). Instead, the company got good news instead and the shares skyrocketed (he goes busto). He got into big negatives because he failed to adequately set safeguards (such as automatically exiting the position after some predetermined loss). E trade probably loses big too because that guy is absolutely going to bk if that will get him out of it. antiga fucked around with this message at 15:29 on Jan 22, 2016 |
|
#
?
Jan 22, 2016 15:26
|
|
|
Lysandus posted:Can someone explain how this works? What is holding short and how does it make you own money to etrade? Edit: super beaten. Short answer: margin trading is trading with your brokers money. They can call the loan if you use too much of their money. Long answer: Typically when you think about buying and selling stocks you have a standard transaction. You "buy to open" or "sell to close" and give money for stock or sell stock for money. However, you can short a stock by "selling to open" by borrowing the stock and selling it at the current price. If the price of the stock falls in the future you win because you sold for $20 and now it costs $10, so you made $10. You can close that position by "buying to close" i.e. Buy the stock for $10 and return that share to the person you borrowed it from in the first place. Holding short is after you sell to open but before you buy to close. Your potential loss when buying stock is whatever the cost of the stock is. It can't go lower than $0. But if you hold short and the price of a stock continues to climb your potential for loss is infinite - the stock pric can always go higher. You end up owing etrade whenever your account balance falls below the maintenance margin. Easiest way to explain it is trading with borrowed money, but you have to have a certain percentage of cash and securities in the account vs positions held. Further reading here: http://www.investinganswers.com/financial-dictionary/investing/margin-call-102 JUST MAKING CHILI fucked around with this message at 15:38 on Jan 22, 2016 |
|
#
?
Jan 22, 2016 15:35
|
|
|
antiga posted:He got into big negatives because he failed to adequately set safeguards (such as automatically exiting the position after some predetermined loss). The stock gapped overnight. Having a stop-loss order in place would have left him in exactly the same position.
|
|
#
?
Jan 22, 2016 17:33
|
|
|
SlapActionJackson posted:The stock gapped overnight. Having a stop-loss order in place would have left him in exactly the same position. Not to mention even a stop loss order will not necessarily help you if you are squeezed the price moves too fast to execute your transaction at something reasonably near the stop price
|
|
#
?
Jan 22, 2016 17:46
|
|
|
I just finished reading The Big Short. Great book. Recommend me other financial books, or related. I thirst for BWM.
|
|
#
?
Jan 22, 2016 17:56
|
|
|
Sepherothic posted:I just finished reading The Big Short. Conspiracy of Fools by Kurt Eichenwald (about ENRON). There Must be a Pony in Here Somewhere by Kara Swisher and Lisa Dickey (about the AOL/Time Warner merger). I've got the Big Short in my Audible queue. I've heard it's really good. If you like baseball and finances, Moneyball is pretty interesting.
|
|
#
?
Jan 22, 2016 18:21
|
|
|
Why thank you. 
|
|
#
?
Jan 22, 2016 18:34
|
|
|
Sepherothic posted:I just finished reading The Big Short. I liked "My Life as a Quant" and "When Genius Failed".
|
|
#
?
Jan 22, 2016 19:00
|
|
|
Dawncloack posted:OOooh brother, do I feel your pain. I've spent time explaining to my parents what student loans are doing to people. When they say things like "I've worked my whole life" and "I started with nothing" they neglect to consider that I've spend 7-8 years more in education and started with a negative net worth. Fortunately I drilled that nonsense out of them. They have a better grasp on things being worse. One common theme is that there are a lot of baby boomers in NZ that lost money in the finance company collapses. They chased the higher returns and had too much money with finance companies that would always be at risk of collapse. A lot of retirements have been ruined because they only understand buying property and putting money in entities that look like banks.
|
|
#
?
Jan 22, 2016 19:34
|
|
|
I still have to spell out to my mom every 6 to 12 months why her generation could work great jobs for great companies with great benefits without a college degree, whereas now that's pretty difficult. It's like I get her to grasp the situation and then she watches CNN and it's BOOTSTRAPS by the next week. Speaking of college costs, my BWM sister-in-law was dropping hints about sending her 17 year old son to live with us because tuition is incredibly costly in Vermont. Even state schools are up to twice as expensive. Back when my nephew was 2 years old I tried to talk his parents into setting up a 529 plan. They laughed at the concept of their son going to college. Not as funny now when he's a high school junior looking at college brochures. Moral to the story, set up loving 529 plans when your kids are born.
|
|
#
?
Jan 22, 2016 20:47
|
|
|
Krispy Kareem posted:
Omg this x1000, so many BWM military members I work with with have no idea what this is or they don't see how great of an idea it is and most of their excuse fall along the lines of not having the spare money. Yes $100 every two weeks seems like a huge stretch to ensure your child has a substantial leg up on collage finance later in life, this is also coming from the guys that have no retirement accounts after being in for 10+ years and are relying on their pension from retirement.
|
|
#
?
Jan 22, 2016 21:28
|
|
|
https://www.reddit.com/r/personalfinance/comments/4229ue/i_havent_filed_taxes_in_over_15_years_scared_but/quote:No one knows this but my wife and I. But, I haven't filed taxes in over 15 years.
|
|
#
?
Jan 22, 2016 21:43
|
|
|
Krispy Kareem posted:I still have to spell out to my mom every 6 to 12 months why her generation could work great jobs for great companies with great benefits without a college degree, whereas now that's pretty difficult. It's like I get her to grasp the situation and then she watches CNN and it's BOOTSTRAPS by the next week. My parents told me to stop watching so much TV when I was a kid. They told me I'd get square eyes. Now I get the feeling we are all going to have to tell our parents not to watch so much TV because of the propaganda. I feel sorry for anyone with kids that aren't saving for their education. Even in NZ year 1 to 13 (up to high school) in a public school costs $32k, private school by comparison costs $327k. No doubt there are people paying the costs with high incomes not realising how much they need to be setting aside just for high school let alone any tertiary education costs.
|
|
#
?
Jan 22, 2016 21:47
|
|
|
Devian666 posted:Even in NZ year 1 to 13 (up to high school) in a public school costs $32k Is that tuition alone, or something else? Does NZ charge people to go to public school, and not tie it to taxes or whatever?
|
|
#
?
Jan 22, 2016 21:55
|
|
|
No I have no idea where that figure comes from, high school equivalent in NZ is free.
|
|
#
?
Jan 22, 2016 22:01
|
|
|
Inverse Icarus posted:Is that tuition alone, or something else? Does NZ charge people to go to public school, and not tie it to taxes or whatever? Public school is completely free in NZ. Except for the annual donations, school trips, uniforms, ipads and assorted other costs. http://www.interest.co.nz/personal-finance/79621/parents-children-born-year-expected-pay-327k-private-schooling-ipad-and The research has gone into establishing the total real cost of education. e: Saros posted:No I have no idea where that figure comes from, high school equivalent in NZ is Fixed that for you. Devian666 fucked around with this message at 22:04 on Jan 22, 2016 |
|
#
?
Jan 22, 2016 22:02
|
|
free
|
It's been a while since I was in school but I think most of those costs are really inflated or entirely optional (fee's).
|
|
#
?
Jan 22, 2016 22:08
|
|
|
Officially they are. Although not have a tablet for coursework would be a problem these days. Thing is if you don't pay your kids would miss out. If you think about the public school cost of $32k over 13 years that's not actually that bad. That includes extracurricular activities as well. Everyone I know with kids seems to have them participating in all manner of sports and the like.
|
|
#
?
Jan 22, 2016 22:12
|
|
|
Rythe posted:Omg this x1000, so many BWM military members I work with with have no idea what this is or they don't see how great of an idea it is and most of their excuse fall along the lines of not having the spare money. They could transfer their Post 9/11 GI Bill benefits to their children. Or tell them to get their own Post 9/11 GI Bill. Of course if they're the type to not have much in their TSP after ten years then I don't think planning for the future and composite risk management are skills they have mastered.
|
|
#
?
Jan 22, 2016 23:05
|
|
|
Henrik Zetterberg posted:https://www.reddit.com/r/personalfinance/comments/4229ue/i_havent_filed_taxes_in_over_15_years_scared_but/
|
|
#
?
Jan 22, 2016 23:11
|
|
|
Crazy Mike posted:They could transfer their Post 9/11 GI Bill benefits to their children. Agreed, that's what I plan on doing with my post-911 on top of a 529 for my child. Unfortunately alot of the military is BWM and lack future planning, it is depressing seeing the CC debit a 12 year E-5, making around 35k a year, with 4 kids has.
|
|
#
?
Jan 22, 2016 23:30
|
|
|
Sepherothic posted:I just finished reading The Big Short. the Neal Barofsky book Taibbi does angry better than anyone, so Griftopia Agreed on the when genius failed book Predator's Ball Liar's Poker
|
|
#
?
Jan 22, 2016 23:30
|
|
|
Krispy Kareem posted:I still have to spell out to my mom every 6 to 12 months why her generation could work great jobs for great companies with great benefits without a college degree, whereas now that's pretty difficult. It's like I get her to grasp the situation and then she watches CNN and it's BOOTSTRAPS by the next week. Speaking of which, if say you're planning to get an MBA or something, and you're already making out your other tax advantaged spaces, you can open a 529 for yourself too, right? Does it make sense to do so?
|
|
#
?
Jan 23, 2016 05:05
|
|
|
Rythe posted:Agreed, that's what I plan on doing with my post-911 on top of a 529 for my child. Unfortunately alot of the military is BWM and lack future planning, it is depressing seeing the CC debit a 12 year E-5, making around 35k a year, with 4 kids has. Just got a loan application for a mil couple with $200k in car debt. That's, IIRC across 5 vehicles? They had another $50k in "debt consolidation" loans and a $140k mortgage. Had another couple in the military that had $1MM in mortgage debt, but most of that was for rentals.
|
|
#
?
Jan 23, 2016 05:58
|
|
|
ohgodwhat posted:Speaking of which, if say you're planning to get an MBA or something, and you're already making out your other tax advantaged spaces, you can open a 529 for yourself too, right? Does it make sense to do so? All contributions to your 529 plan are after-tax dollars, so unless you're expecting phenomenal asset growth you're not going to see many tax benefits. 529 plans work best when you give them 18 years to grow, since the returns aren't taxed as long as it goes toward college. If your 529 plan is based out of your home state then you might get a state tax deduction for contributing. It's not much though. I put in 2k a year and I think it lowers my tax bill by like $10.
|
|
#
?
Jan 23, 2016 06:59
|
|
|
From r/silverbugs: What was your recent drunk purchase?quote:YES! This is a thread I can get behind! Nothing I like better than Friday rolling around, getting hammered, and ordering silver! This needs to be a weekly thing!
|
|
#
?
Jan 23, 2016 07:11
|
|
|
The best part about beimg without internet for a while is coming back to two pages of fresh bad with money chat  vvvvv e. eh, I grew up with this kinda music and it's not the worst as far as bad dancehall goes imo. I wouldn't actively want to hear it by any means but if it started playing in the middle of a club set it wouldn't be more than a forgettable high tempo filler song. Guest2553 fucked around with this message at 16:56 on Jan 23, 2016 |
|
#
?
Jan 23, 2016 08:18
|
|
|
The City Harvest Church scandal is pretty good BWM. A mega church tried to make the pastor's wife a US pop star, putting her up in LA and hiring Wyclef to collaborate on songs. The idea was that they were "spreading the gospel through song" (the songs have absolutely no gospel undertones). They spent more covering up the financial scheme than they did actually funding the failed endeavor.quote:City Harvest soon decided that Ms Ho needed to crack the US market. She first struck out as a dance music singer, then had a makeover in 2007 and was re-styled as a vampy rapper-singer nicknamed Geisha. The songs are really really bad. https://youtu.be/wSZQH_c9jOU https://youtu.be/3GgxsfODXrI
|
|
#
?
Jan 23, 2016 11:36
|
|
|
quote:Mr Bill, in which she sang about killing her husband. Hmmmm
|
|
#
?
Jan 23, 2016 13:10
|
|
|
|
| # ? May 30, 2024 02:42 |
|
|
ohgodwhat posted:Speaking of which, if say you're planning to get an MBA or something, and you're already making out your other tax advantaged spaces, you can open a 529 for yourself too, right? Does it make sense to do so? Depends on the state. Some states have a state income tax break for 529s so even if there won't be much investment growth it will save you some money.
|
|
#
?
Jan 23, 2016 16:42
|
|