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5% compounding interest on 100 from 1911 is ~19,400 today
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Aug 29, 2019 17:02
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comedyblissoption posted:i think 401ks initially started as this wierd niche corner of the law numbers fuckstein thing until it transformed into the dumbass retirement bullshit now it's literally a tithe to wall street lol, toss a good chunk of your dwindling paychecks to the leviathan and maybe it'll pay off for you way down the line
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Aug 29, 2019 17:03
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comedyblissoption posted:5% compounding interest on 100 from 1911 is ~19,400 today good luck getting the silver taels then
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Aug 29, 2019 17:04
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Finally got my account from my old company shifted from their 401k to an IRA. I've got a whole $6,800 riding on number now! gently caress the poooooooooorrrrrrrrrr give me $7,000 by the end of the year for no reason. This is so much better than the Iraqi dinars crazies.
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Aug 29, 2019 17:06
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Lol this is some iraqi dinar tier poo poo
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Aug 29, 2019 17:08
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comedyblissoption posted:5% compounding interest on 100 from 1911 is ~19,400 today and you still need to adjust for inflation
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Aug 29, 2019 17:09
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I was in China recently and they still keep those in the national museum in the "things that led to the revolution" section
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Aug 29, 2019 17:09
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What I'm saying is Americans need to start paying their tea taxes and stamp taxes
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Aug 29, 2019 17:10
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lollin gently @ “Jonna Bianco, a Tennessee cattle rancher” (the US has no cattle ranches east of the Mississippi River, cattle farms yes. different climate, different methods, different scale)
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Aug 29, 2019 17:12
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that would be a pretty crazy wall decoration tbh
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Aug 29, 2019 17:13
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Tulip posted:that would be a pretty crazy wall decoration tbh Same. I have a friend who is a Chinese History professor, and if they don't have that, I know what I'm getting them for their next birthday.
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Aug 29, 2019 17:18
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hows number doin today
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Aug 29, 2019 17:49
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wow, number up! thanks trump
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Aug 29, 2019 17:49
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Harry Potter on Ice posted:Trust fund kiddie trying over here trying to be anything but now that's just unfortunate, my parents rode the poverty line for a family of 6 (!!) until about 1998 because my dad worked three jobs to clear the quarter million in legal debt he accrued from his first marriage and ensuing custody fight, i've had a job every day of my life since i was sacking groceries at the winn-dixe at 14 years old in 1996, and the only investing i do is in the 401k i've been contributing to for 12 years. yeah, as a finance industry worker i'm going to get the guillotine at some point, and i do have massive unearned privilege as a white dude in america, but to suggest i come from money is just absurd.
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Aug 29, 2019 19:16
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I want this military machine to stop, but I'm also staking my livelihood as much as possible on its continued success.
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Aug 29, 2019 19:19
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look at that badass stamp
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Aug 29, 2019 19:56
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fknlo posted:My favorite thing about retirement stuff is that you as a regular person are limited in the amount that you can put into it on a yearly basis because, gently caress you I guess? Rex-Goliath posted:not to say there aren't methods but this is explicitly to prevent rich people from taking advantage of it. if you feel like you can easily save more than the limit then you're exactly the person the irs feels doesn't deserve more tax breaks to save for retirement This. The limit exists so that if you want to invest more money you have to put it in regular investments and pay capital gains taxes. Govt wants their cut.
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Aug 29, 2019 20:02
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The USA needs to pay up (UP!) for the Boston Tea Party. How much tea was lost, about $5.2 trillion worth? When Brexit kills Number (only for Number to rise again on the third day), the Brits better remember this grievous fault and demand the Yanks cough up the dough, lest Johnson will strike down Number once and for all and Trump will be forced to watch as Number goes down slightly. What else will he be forced to do butt add more tariffs unto China?
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Aug 29, 2019 20:23
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im glad number is still ok bc i just invested in some new ganes and gaming accessories
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Aug 29, 2019 20:50
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Ah, poo poo, turns out the Dow was hooked up wrong to the building's electric meter. We'll be getting you the real number in about 60 days.
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Aug 29, 2019 21:19
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Xaris posted:ehhh i'm not really disagreeing you, i'm just being lovely contrarian and well, actually-ing. although i still think vice stocks are a relatively safe investment if you presume republicans are going to own america until it explodes, so might as well hedge that republicans will control power forever, and if they don't, well, that's better that they don't even if you lose lots of money instead. i don't personally do that, but thats just because i have little money and prefer general index funds most "ethical" investment funds invest in the same poo poo as everything else minus cigarettes, booze, and casinos some of them also take out gun companies or defense contractors but that ones iffy because saying guns are bad is too Political
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Aug 29, 2019 22:37
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Gazpacho posted:lollin gently @ “Jonna Bianco, a Tennessee cattle rancher” https://www.linkedin.com/in/jonna-bianco-7482b26/ https://www.sec.gov/litigation/litreleases/2018/lr24074.htm it's because she's literally a fraud
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Aug 29, 2019 22:50
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ya in these pieces they always just round up a bunch of business owners, chud retirees, and party officials and tell them to make up a profession that sounds more journalismy than "county chair of the party I'm pretending to cover critically" reactionaries love to default to rancher because ranching is historically one of the drivers of native genocide and modern enclosure, both of which allow them to roleplay as colonialists ordering a temple destroyed because they didn't mine enough gold this month
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Aug 29, 2019 22:54
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there's one lady, Serena or Zelina or something with the NYT or WaPo, who has basically made a career out of interviewing the same millionaire party official of some pennsylvania town except she describes him as "concerned worker" or whatever
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Aug 29, 2019 22:55
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Epic High Five posted:there's one lady, Serena or Zelina or something with the NYT or WaPo, who has basically made a career out of interviewing the same millionaire party official of some pennsylvania town except she describes him as "concerned worker" or whatever this is different than the group of independent woman voters* in texas right? *by independent voters i mean they're in charge of trumps woman outreach campaign in texas
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Aug 29, 2019 23:43
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Gringostar posted:this is different than the group of independent woman voters* in texas right? yeah the lady I'm thinking of specializing in writing soft focus pieces about economic anxiety in the rust belt and mysteriously has never spoken to a black or latino person
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Aug 29, 2019 23:44
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Epic High Five posted:Lol what magical bank do you use still never going to use a commercial bank though
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Aug 29, 2019 23:52
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What is about credit unions that makes them better than larger banks? Is there any unethical banking practice that's impossible for a credit union to also be guilty of?
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Aug 29, 2019 23:54
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Teal posted:not to attempt a witty takedown, I'm genuinely curious; within that framework of yours, do you then also believe shorting a productive company is evil then, and that shorting a bad company is positive? i think that a degree of participation in the system is unavoidable and intentionally cultivated, as others have stated, to force a convergence of interests with the capital class that would not otherwise exist. that degree is different for everyone depending on their circumstances but I’d suggest that stuff like shorting options go beyond it, complex financial instruments aren’t something you need to utilise to survive and function. and voluntarily deepening your participation in a corrupt system in order to profit personally while claiming to want to end the system is at best disingenuous. the system doesn’t care what particular metric you’re gambling on or who you’re betting against, only that you’re involved. a system where shorting companies is a thing shouldn’t exist imo so you probably shouldn’t endorse it just because it does currently
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Aug 29, 2019 23:54
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Dumb Lowtax posted:What is about credit unions that makes them better than larger banks? Is there any unethical banking practice that's impossible for a credit union to also be guilty of? the depositors are the shareholders that the CEO has to answer to or at least that's how it is with my credit union
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Aug 29, 2019 23:56
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Ayn Randi posted:i think that a degree of participation in the system is unavoidable and intentionally cultivated, as others have stated, to force a convergence of interests with the capital class that would not otherwise exist. that degree is different for everyone depending on their circumstances but I’d suggest that stuff like shorting options go beyond it, complex financial instruments aren’t something you need to utilise to survive and function. and voluntarily deepening your participation in a corrupt system in order to profit personally while claiming to want to end the system is at best disingenuous. the system doesn’t care what particular metric you’re gambling on or who you’re betting against, only that you’re involved. a system where shorting companies is a thing shouldn’t exist imo so you probably shouldn’t endorse it just because it does currently I agree that we have a responsibility to not avoidably help the worst enterprises on earth. On the other hand if you make a deal with the devil that increases your personal power to make a difference by a factor of 5000 by way of not being in poverty anymore, and only increases the devil's power to make a difference by .000000000005% if even that (since it's debatable whether retail investors of public stock even help or hurt a company), and if you plan on actually doing something with your power to eventually undermine the system, and actually follow through..... then that sounds like a viable strategy. You could even imagine situations where a bad financial system just outright kills everyone who doesn't help it grow, so that the only people left standing to attack the system are people who have helped it before. The point is, the decisions of low-level individuals and consumers like ourselves are ultimately not to blame for the system being the way that it is, and wasting any time blaming ourselves plays into the corporations' and billionaires' and politicians' hands. We didn't do this to the world, they did, and 100% of our focus should be on making them answer for it and gaining enough power to do so. Happy Thread fucked around with this message at 00:06 on Aug 30, 2019 |
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Aug 29, 2019 23:59
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The people in cspam defending investing in the worst enterprises on earth are the same type that would pull the ladder up behind them when they make it and talk about how hard they had it
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Aug 30, 2019 00:09
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Why is China playing softball? they know they can make him manic over any significant drop in the stock market. Is this actual capitulation, or do they just want to ‘resolve’ Hong Kong first?
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Aug 30, 2019 00:11
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Harry Potter on Ice posted:The people in cspam defending investing in the worst enterprises on earth are the same type that would pull the ladder up behind them when they make it and talk about how hard they had it I mean yeah, we don't live in that hypothetical world I made up above, we live in a world where there are tons of different numbers to invest in that all always go up, so yeah picking that number in particular to (possibly) enrich is a pretty bad look.
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Aug 30, 2019 00:11
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street doc posted:Why is China playing softball? they know they can make him manic over any significant drop in the stock market. Is this actual capitulation, or do they just want to ‘resolve’ Hong Kong first? Why drop the hammer now when they can do it next spring and make sure Trump loses?
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Aug 30, 2019 00:12
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Gazpacho posted:lollin gently @ “Jonna Bianco, a Tennessee cattle rancher” Florida would like a word with you. http://floridacattleranchers.com/ And no it's not a fat, southerner only dating site.
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Aug 30, 2019 00:19
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Dumb Lowtax posted:I agree that we have a responsibility to not avoidably help the worst enterprises on earth. On the other hand if you make a deal with the devil that increases your personal power to make a difference by a factor of 5000 by way of not being in poverty anymore, and only increases the devil's power to make a difference by .000000000005% if even that (since it's debatable whether retail investors of public stock even help or hurt a company), and if you plan on actually doing something with your power to eventually undermine the system, and actually follow through..... then that sounds like a viable strategy. You could even imagine situations where a bad financial system just outright kills everyone who doesn't help it grow, so that the only people left standing to attack the system are people who have helped it before. agreed that it's not about blaming individuals for a system they didnt create but still, lotta ifs there. are there really a lot of examples of people personally enriching themselves with power structures and then "bringing them down from the inside"? genuine question i'm not really familiar with any prominent examples outside of fiction. rendering everything as a question of ultimate blame risks missing the ways in which the system which is essentially a consensual hallucination requires our ongoing acceptance and participation in order to exist. in the main that acceptance and participation are coerced, implicitly or through direct force, and that's not blameworthy to the individual of course. but there's a line where you go beyond that, it's admittedly blurry and different for everyone but i feel it shouldn't be controversial to say "deliberately choosing to invest capital in the literal military machinery of empire for its profitability" is so far past it you can't see it any more. a deal with the devil is still a deal with the devil. any moral tale about a deal with the devil always has a recipient who has a good reason to accept, they're still damned though.
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Aug 30, 2019 00:19
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Gringostar posted:the depositors are the shareholders that the CEO has to answer to like far fewer credit unions failed in the wake of 2008 than did banks (not that the institution collapsing is a huge deal for your FDIC insured checking account but whatever) I’m pretty sure for example that your credit union is not allowed to use your deposits to invest in mortgage backed securities or credit default swaps etc like big banks do bawfuls fucked around with this message at 00:22 on Aug 30, 2019 |
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Aug 30, 2019 00:20
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Dumb Lowtax posted:What is about credit unions that makes them better than larger banks? Gazpacho fucked around with this message at 00:25 on Aug 30, 2019 |
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Aug 30, 2019 00:22
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KaptainKrunk posted:Why drop the hammer now when they can do it next spring and make sure Trump loses? Why cause him to lose at all?
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Aug 30, 2019 00:33
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