Register a SA Forums Account here!
JOINING THE SA FORUMS WILL REMOVE THIS BIG AD, THE ANNOYING UNDERLINED ADS, AND STUPID INTERSTITIAL ADS!!!

You can: log in, read the tech support FAQ, or request your lost password. This dumb message (and those ads) will appear on every screen until you register! Get rid of this crap by registering your own SA Forums Account and joining roughly 150,000 Goons, for the one-time price of $9.95! We charge money because it costs us money per month for bills, and since we don't believe in showing ads to our users, we try to make the money back through forum registrations.
 
  • Locked thread
tuyop
Sep 15, 2006

Every second that we're not growing BASIL is a second wasted

Fun Shoe

jackyl posted:

dude how much money have you created out of thin air with your credit card

Many moneys. Like when we split pizza with the roommate and he promises to pay 20 bucks later. Bam, 20 bucks created. I'm adding value this way apparently give me a banking jerb.

Adbot
ADBOT LOVES YOU

Solice Kirsk
Jun 1, 2004

.

Pitdragon posted:

perhaps we can arrange fo them to be shipped off to some sort of camps

Well it can't be labor camps because they have no work ethic. Maybe meme farms?

let it mellow
Jun 1, 2000

Dinosaur Gum

tuyop posted:

Many moneys. Like when we split pizza with the roommate and he promises to pay 20 bucks later. Bam, 20 bucks created. I'm adding value this way apparently give me a banking jerb.

lol way to dodge the credit card question

Liquid Penguins
Feb 18, 2006

by Cowcaster
Grimey Drawer

Pitdragon posted:

perhaps we can arrange fo them to be shipped off to some sort of camps

who is gonna pay for this mr answers????

Solice Kirsk
Jun 1, 2004

.

jackyl posted:

lol way to dodge the credit card question

Credit cards actually pay your bills and then you pay them back with interest. They don't magic money from anywhere. It's a series of small loans taken from a financial institution.

tuyop
Sep 15, 2006

Every second that we're not growing BASIL is a second wasted

Fun Shoe
/\/\ I don't think you understand how money works.

jackyl posted:

lol way to dodge the credit card question

I had like 60k in debt, mostly a car and student loans but like 15k was on credit cards, and paid it off in three years by cutting expenses. Can I be part of the victim blaming club now???

Hometown Slime Queen
Oct 26, 2004

the GOAT
nobody should ever have to cut expenses

Liquid Penguins
Feb 18, 2006

by Cowcaster
Grimey Drawer
lmao if you have consumer debt ahahahahah

Thirsty Girl
Dec 5, 2015

jackyl posted:

job requirement: must be able to lift 50 pound gut off of flaccid dilz

SHISHKABOB
Nov 30, 2012

Fun Shoe

A Stupid Baby posted:

Well, not exact same


According to a blowhard in the republican primary thread, less than 5%. 80,000 a year jobs are basically growing on trees. I don't think they'd lie to me in that thread.


Well you also can't afford that by say, working in a store or as a janitor or any other job that meets your puritan standards (though you'd do better since you'd be making at least Cali minimum wage which is 10)

But the median income in the us is 50k.

bird with big dick
Oct 21, 2015

Solice Kirsk posted:

Credit cards actually pay your bills and then you pay them back with interest. They don't magic money from anywhere. It's a series of small loans taken from a financial institution.

Loans create money. I deposit 100k in my bank account. Talia Jane takes out a 90k loan for the land needed to start her free range meme ranch and pays it to some Jew, who then deposits it in his bank. Then the Jew's bank loans Talia 80 grand so that she can give some other Jew 80 grand for 6 months deposit on her San Francisco mansion.

So now I've got 100 grand, Jew #1 has 90 grand, and Jew #2 has 80 grand, and the other 170k was created entirely based on my 100k deposit.

Etc, etc, etc.

Ride The Gravitron
May 2, 2008

by FactsAreUseless

Liquid Penguins posted:

lmao if you have consumer debt ahahahahah

let it mellow
Jun 1, 2000

Dinosaur Gum

Solice Kirsk posted:

Credit cards actually pay your bills and then you pay them back with interest. They don't magic money from anywhere. It's a series of small loans taken from a financial institution.

lol do u have an english lit degree

let it mellow
Jun 1, 2000

Dinosaur Gum

Liquid Penguins posted:

lmao if you have consumer debt ahahahahah

:agreed:

Solice Kirsk
Jun 1, 2004

.
Banks don't print/create money. Loans generate interest which is paid by the people taking the loans. The bank is making money off the interest it takes from people paying back their loans and gives interest to people that leave money with them so they can cover the loans they make.

tuyop
Sep 15, 2006

Every second that we're not growing BASIL is a second wasted

Fun Shoe
We can go simpler.

Imagine a world with only $10 and a chipotle. Bob lends Jane ten bucks to buy some chipotle. Bob still has 10 bucks in the form of an asset. Jane buys the chipotle and now has the same amount of money she started with ($0) and a good worth ten bucks, the chipotle owner now has ten bucks. In this world there is now $20. By lending Jane money, Bob created more money.

If Bob and the chipotle owner wanted to, Bob could write down "10bux fr. Jane" on a piece of paper and, knowing that Jane is good for it somehow, the chipotle owner could also accept this note as money, now owning all the money in the world, even though this would cause problems later if he ever decided to cash in his note. Since he could just trade the note and cash to the chipotle supplier for more ingredients (because Jane is good for it), the financial system is fine though.

Enderzero
Jun 19, 2001

The snowflake button makes it
cold cold cold
Set temperature makes it
hold hold hold

SHISHKABOB posted:

But the median income in the us is 50k.

*Household* income is 50k. Nowadays that often means two people working full time. That happened because wages didn't keep up with productivity and so women were forced to enter the workforce to keep households above poverty levels.

Pitdragon
Jan 20, 2004
Just another lurker

Liquid Penguins posted:

who is gonna pay for this mr answers????

mexico

Enderzero
Jun 19, 2001

The snowflake button makes it
cold cold cold
Set temperature makes it
hold hold hold

Solice Kirsk posted:

Banks don't print/create money. Loans generate interest which is paid by the people taking the loans. The bank is making money off the interest it takes from people paying back their loans and gives interest to people that leave money with them so they can cover the loans they make.

Correct. The Federal Reserve creates money out of thin air and credits bank registers to keep them from failing. I suspect the Ubermensch in here insisting a youth be punished for their mistakes have a much quieter voice on punishing banks for their mistakes even though the importance of punishing the latter is vastly more important to long term economic survival.

Solice Kirsk
Jun 1, 2004

.

tuyop posted:

We can go simpler.

Imagine a world with only $10 and a chipotle. Bob lends Jane ten bucks to buy some chipotle. Bob still has 10 bucks in the form of an asset. Jane buys the chipotle and now has the same amount of money she started with ($0) and a good worth ten bucks, the chipotle owner now has ten bucks. In this world there is now $20. By lending Jane money, Bob created more money.

If Bob and the chipotle owner wanted to, Bob could write down "10bux fr. Jane" on a piece of paper and, knowing that Jane is good for it somehow, the chipotle owner could also accept this note as money, now owning all the money in the world, even though this would cause problems later if he ever decided to cash in his note. Since he could just trade the note and cash to the chipotle supplier for more ingredients (because Jane is good for it), the financial system is fine though.

Ok, I get what you're saying now. I was just misunderstanding.

crabcakes66
May 24, 2012

by exmarx

tuyop posted:

We can go simpler.

Imagine a world with only $10 and a chipotle. Bob lends Jane ten bucks to buy some chipotle. Bob still has 10 bucks in the form of an asset. Jane buys the chipotle and now has the same amount of money she started with ($0) and a good worth ten bucks, the chipotle owner now has ten bucks. In this world there is now $20. By lending Jane money, Bob created more money.

If Bob and the chipotle owner wanted to, Bob could write down "10bux fr. Jane" on a piece of paper and, knowing that Jane is good for it somehow, the chipotle owner could also accept this note as money, now owning all the money in the world, even though this would cause problems later if he ever decided to cash in his note. Since he could just trade the note and cash to the chipotle supplier for more ingredients (because Jane is good for it), the financial system is fine though.

What about all of the diarrhea created in this scenario?

Enderzero
Jun 19, 2001

The snowflake button makes it
cold cold cold
Set temperature makes it
hold hold hold

crabcakes66 posted:

What about all of the diarrhea created in this scenario?

That's what we call an externality.

triple sulk
Sep 17, 2014



Nation posted:

yes she is dumb but it doesn't mean a full time worker shouldn't get a living wage

Please tell me what you consider to be a "living wage"

tuyop
Sep 15, 2006

Every second that we're not growing BASIL is a second wasted

Fun Shoe

crabcakes66 posted:

What about all of the diarrhea created in this scenario?

Where do you think Bob got the ten bucks?

a shiny rock
Nov 13, 2009

if she's literally starving she should sign up for food stamps. for someone who wants to be handed things for free she sure isn't very smart about taking advantage of programs already available for that.

Gazpacho
Jun 18, 2004

by Fluffdaddy
Slippery Tilde

Solice Kirsk posted:

Banks don't print/create money. Loans generate interest which is paid by the people taking the loans. The bank is making money off the interest it takes from people paying back their loans and gives interest to people that leave money with them so they can cover the loans they make.
you're mistaken and part of your mistake is thinking that "creating" money is the same as "printing" it.

another way of putting it is that you've accepted the way that credit is justified in economics textbooks as opposed to what banks actually do to make it look that way

a whole buncha crows
May 8, 2003

WHEN WE DON'T KNOW WHO TO HATE, WE HATE OURSELVES.-SA USER NATION (AKA ME!)

triple sulk posted:

Please tell me what you consider to be a "living wage"

http://livingwage.mit.edu/

SHISHKABOB
Nov 30, 2012

Fun Shoe
Money isn't even real anymore. It gets moved around in the billions every second.

tuyop
Sep 15, 2006

Every second that we're not growing BASIL is a second wasted

Fun Shoe

SHISHKABOB posted:

Money isn't even real anymore. It gets moved around in the billions every second.

Lol, "anymore".

let it mellow
Jun 1, 2000

Dinosaur Gum

Solice Kirsk posted:

Banks don't print/create money. Loans generate interest which is paid by the people taking the loans. The bank is making money off the interest it takes from people paying back their loans and gives interest to people that leave money with them so they can cover the loans they make.

ty for explaining my comment

happyhippy
Feb 21, 2005

Playing games, watching movies, owning goons. 'sup
Pillbug
Wonder how much bonus the Yelp CEO will award himself for actually having to do some work by firing her.

crabcakes66
May 24, 2012

by exmarx

happyhippy posted:

Wonder how much bonus the Yelp CEO will award himself for actually having to do some work by firing her.

Whatever it is, it's not enough compensation for having to provide paid daycare for these millennial turds.

Hometown Slime Queen
Oct 26, 2004

the GOAT
I like an employee that writes multiple page rantblogs and mails them to me and think those thinly veiled 'I know where you live' bits show real courage! Give that crazy woman a raise and some cupcakes, hell, invite her over to my mansion and I'LL give her the cupcakes!

Mugsbaloney
Jul 11, 2012

We prefer your extinction to the loss of our job

Someone has to sweep the streets. Sometimes is you

happyhippy
Feb 21, 2005

Playing games, watching movies, owning goons. 'sup
Pillbug
So think she was fired for steal office food and not for this rant online?

a shiny rock
Nov 13, 2009

yelp will be sorry in six months when they have to hire someone else to write tweets instead of her

White Phosphorus
Sep 12, 2000

Shaquin posted:

Please use this as an opportunity to tell me how three fully grown humans should cram into a studio apartment.

That's how humans have lived for thousands of years and still do. Western lifestyle is unsustainable and destructive to the environment.

Minimalist Program
Aug 14, 2010
I want to post meems and get paid for doing so.

a whole buncha crows
May 8, 2003

WHEN WE DON'T KNOW WHO TO HATE, WE HATE OURSELVES.-SA USER NATION (AKA ME!)

White Phosphorus posted:

That's how humans have lived for thousands of years and still do. Western lifestyle is unsustainable and destructive to the environment.

also exploitative of the labour and resources of the majority of the globe- but what is this LF?!

Adbot
ADBOT LOVES YOU

Ride The Gravitron
May 2, 2008

by FactsAreUseless

Minimalist Program posted:

I want to post meems and get paid for doing so.

I want to post dick pics and get paid for doing so

  • Locked thread