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I honestly think it has more to do with how life and death finances are under global capitalism that its really just staring the monster in the face to do poo poo like estate planning and anything that makes you look at the long tail of your financial situation, especially since most people know they are hosed at a fundamental level. Combined with older generations being taught to Never Talk About Money, it leads to some real weird poo poo. Of course the wealthy have no problem doing it and do it all the time, but everyone else was taught Don't Do That. That isn't even getting into all the other weird ways money seems to break people's brains.
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Jan 25, 2023 06:43
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if the problem was capitalism it would prolly be a problem outside america and like 10 western nations. asian and african peeps talk about money fine, its like some carried over feudal bullshit
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Jan 25, 2023 07:32
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It is definitely in capital’s interests for the majority of people (i.e. those who derive their income and any wealth, should they have accumulated any, from labour) not to talk about money. Capital benefits massively from the information asymmetry this creates. Capitalism has played a huge role in the taboo against talking openly about money, even if other cultural factors also influence it.
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Jan 25, 2023 08:18
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LanceHunter posted:Not sole breadwinner, just primary breadwinner. There's nothing especially salacious about the situation. They're just a very long-term throuple who all live together. They all have full-time jobs/careers, it's just that the friend with the estate-planning-avoidance-issues has a significantly more lucrative job and since he has been rich for some time things like the house are in his name. If he were able to set up a basic will to make sure things like the house and savings went to his partners, that would resolve pretty much the entire concern. It's not like they wouldn't be able to pay the bills with what they make alone. But because he can't bring himself to set up a will, they've got to deal with the potential that his family would get his estate by default, get overwhelmed by greed, and decide to kick the other partners out of the house. I am shocked, SHOCKED I tell you, to find out that someone living in a throuple has mental health issues.
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Jan 25, 2023 09:47
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https://twitter.com/TikTokInvestors/status/1617366696129331200 https://twitter.com/TikTokInvestors/status/1617372334448578561
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Jan 25, 2023 10:40
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Strong Sauce posted:https://twitter.com/TikTokInvestors/status/1617366696129331200 With respect to the "Americans don't talk about money," it's very depressing to watch TikTok get eaten up by the Get Rich Quick scammers who, alongside astrologists, snake oilers, and conservative suburbanite Nazi sympathizers, ruined Facebook and Instagram
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Jan 25, 2023 14:24
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BWM: Bulldozed With Mountebanks
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Jan 25, 2023 14:29
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So what does the rich douchebag even do? Is he just one of those guys who goes on youtube/tiktok and spouts a bunch of BS and people pay him lots of money for the privilege of listening to it? That's assuming this guy is even rich, and not just pretending so he can con people into listening to him.
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Jan 25, 2023 15:12
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He's a guru, so selling courses is the oeuvre. I refuse to interface with his content directly but I did put an interview on. Typical hustle culture nonsense: stop wasting your time not making money. Start ANY business like drop shipping (lmao) and if you need help buy my course on it. Take EXTREME risks for huge gains. Edit: Holy poo poo stay away from this rear end in a top hat. Quote from an interview: quote:...for now everyone is distracted [from freeing themselves from poverty] with Nexflix, TikTok, rascism, body positivity, with feminism and when they finally get over it, they can finally begin to fight [their poverty]. He segues this into "acquiring knowledge to be able to get into and make money in crypto". SettingSun fucked around with this message at 15:35 on Jan 25, 2023 |
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Jan 25, 2023 15:22
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Short content, I love searching for "cosign" and seeing what pops up. Parents want me to cosign on a small business loan. quote:I recently moved out of my parents' house a year ago and have my own apartment with a steady job. My parents want me to cosign for their small business loan. How would this affect future loans (mortgage/car) I decide to take in the future. What happens if they're unable to pay the loan? Am I legally on the hook? Reddit says do not do this quote:Yea that was my initial reaction but my parents just keep trying to guilt trip me because they provided for and raised me. quote:I won't disclose the business but the loan will be greater than 2 mil and I am just starting my career. A lot of things don't make sense to me. I'm not financially savvy, so they a lot of the times my parents just say to "trust them". Regardless I would like to know the details of what I'm getting into. I imagine the parents are delusional that someone in their early 20s just starting out would make a difference on this size of a loan. Hopefully the kid followed through without cosigning.
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Jan 25, 2023 15:26
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Bird in a Blender posted:So what does the rich douchebag even do? Is he just one of those guys who goes on youtube/tiktok and spouts a bunch of BS and people pay him lots of money for the privilege of listening to it? I peeked at his twitter to see what's up, and it's a melange of: 1. Stop watching porn because masturbation reduces your testosterone, which you need to hustle. 2. Start drop-shipping tchotchkes ASAP. 3. Dress in really expensive clothes so people will think you are rich and treat you like you're rich. It seems like his main thing is having a ton of his followers do a "drop shipping contest", and then holding up the 1 person who succeeds as evidence that anyone can. It works because a lot of people are trying, it's like having a roulette contest with 1,000 people where the rules are "always bet on black for 8 spins in a row" and then celebrating the 4 winners and saying everyone can do it. Oh, also this guy seems to hate women and worship Andrew Tate. If you want to know what kind of store all these gurus are encouraging people to make, it's stuff like this: https://www.houndsy.com/ or this, which is a little stadium seat sold as a bundle for $190: https://pebbl.com/ Twerk from Home fucked around with this message at 15:53 on Jan 25, 2023 |
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Jan 25, 2023 15:45
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Involuntary Sparkle posted:Short content, I love searching for "cosign" and seeing what pops up. If the parents paid for half of op's college and are even able to get a 2 million dollar loan from the bank, then it may be a case where they are GWM and could be able to handle the loan by themselves, but are trying to help op's credit rating by having this loan history on there. On the other hand, the fact that op says they are trying to guilt trip him about it makes that seem unlikely. On the other-other hand, it may just be that op is completely misreading the situation and thinks the parents are guilt-tripping when they're trying to explain that they want to help him. It would definitely help to know what the business actually is. Restaurant? Then they are scamming op. Adding (another) property to their already well-maintained commercial real estate business? Then they're probably helping and op doesn't get it.
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Jan 25, 2023 15:52
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It will definitely be helpful when this kid tries to buy a house (lol) and the lender says "Looks like you are two million dollars in debt, we can't give you a loan sorry"
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Jan 25, 2023 16:25
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One weird trick! The IRS hates it! https://twitter.com/LorilynWilson/status/1618101991376580608
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Jan 25, 2023 17:03
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You can write off whatever you want, until the tax man starts sniffing around. They'll love this one.
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Jan 25, 2023 17:06
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SettingSun posted:You can write off whatever you want, until the tax man starts sniffing around. They'll love this one. I was just telling someone about Onision's taxes the other day.
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Jan 25, 2023 17:24
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Potato Salad posted:With respect to the "Americans don't talk about money," it's very depressing to watch TikTok get eaten up by the Get Rich Quick scammers who, alongside astrologists, snake oilers, and conservative suburbanite Nazi sympathizers, ruined Facebook and Instagram Some real tragedy of the commons bullshit. Scammers rush in to fill any available gap because scammers gonna scam
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Jan 25, 2023 18:03
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MEIN RAVEN posted:Some real tragedy of the commons bullshit. Scammers rush in to fill any available gap because scammers gonna scam It's weird how Facebook has become just utterly unusable, ten junk entries for one interesting thing or 100 junk entries for one post by any actual friend or relative But youtube so far remains great, the occasional repetitive advert but generally the recs are things I want to see
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Jan 25, 2023 18:09
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video always has a bona fide effective machine learning loss signal, whether you fuckin watched it or not. thats why tiktok recommendations are the best in the business and why fascists get recommended by both youtube and tiktok, cuz fascists will watch every video they get
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Jan 25, 2023 18:11
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LanceHunter posted:If the parents paid for half of op's college and are even able to get a 2 million dollar loan from the bank, then it may be a case where they are GWM and could be able to handle the loan by themselves, but are trying to help op's credit rating by having this loan history on there. This is not how credit scores work and seems to be a common misconception among Americans. There is absolutely zero reason to cosign on a *two million dollar loan* to "build credit". You can easily get a more or less perfect credit score by getting a credit card, putting some day to day expenses on it, and paying it off on time. Credit score is mostly: do you have a history of making on time payments of some kind and do you have any negative marks (such as missed payments or bankruptcy). When it comes time for a large loan (such as to buy a house), assets and income versus current debt are whats most important. It not like people are getting rejected for home loans because they havent cosigned on their parents boat loans.
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Jan 25, 2023 18:40
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Hieronymous Alloy posted:It's weird how Facebook has become just utterly unusable, ten junk entries for one interesting thing or 100 junk entries for one post by any actual friend or relative Nowadays I mostly see ads and those "reels" that I ignore beause I don't go to FB to see lovely little videos
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Jan 25, 2023 18:44
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drk posted:This is not how credit scores work and seems to be a common misconception among Americans. There is absolutely zero reason to cosign on a *two million dollar loan* to "build credit". You can easily get a more or less perfect credit score by getting a credit card, putting some day to day expenses on it, and paying it off on time. Credit score is mostly: do you have a history of making on time payments of some kind and do you have any negative marks (such as missed payments or bankruptcy). Yeah I had an essentially perfect score a couple years after college (the first time I bothered to check) amd my only credit activities had been:
Credit is about consistency over time but people don't like that, they want One Weird Trick.
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Jan 25, 2023 18:50
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Yeah, the “building credit” argument didn’t make sense to me either. If they wanted to help him build credit, they could simply have him take out a small loan or credit card with the parents co-signing on that. Trying to get a multi-million business loan, getting denied, then trying to find a co-signer to add to it to try again, then deciding that someone with limited credit history and little assets of their own is a good co-signer…. that does not suggest that these are people who are stellar at managing credit ratings and thinking clearly about their personal finances
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Jan 25, 2023 18:54
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Scratch Monkey posted:Nowadays I mostly see ads and those "reels" that I ignore beause I don't go to FB to see lovely little videos repackaged webcomics with a page of filler between each panel and yeah dog videos But honestly i click the dog videos Blotto_Otter posted:Yeah, the “building credit” argument didn’t make sense to me either. If they wanted to help him build credit, they could simply have him take out a small loan or credit card with the parents co-signing on that. When I was a child my aunt, who had perfect credit, put me as a 2nd name on her credit cards, which she religiously paid every month. By the time I was in college I had something like a 750+ credit score. This was back in the 90's and my understanding is that no longer works like that.
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Jan 25, 2023 19:36
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Hieronymous Alloy posted:When I was a child my aunt, who had perfect credit, put me as a 2nd name on her credit cards, which she religiously paid every month. By the time I was in college I had something like a 750+ credit score. This was back in the 90's and my understanding is that no longer works like that. Yeah it does. Amex lets you put kids on as authorized users at 16. My 20 year old has a 25 year credit history.
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Jan 25, 2023 19:48
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Twerk from Home posted:If you want to know what kind of store all these gurus are encouraging people to make, it's stuff like this: https://www.houndsy.com/ or this, which is a little stadium seat sold as a bundle for $190: https://pebbl.com/ We had a thread for poo poo like this in BFC for a while. The OP professed to sell black-label whiskey stills IIRC, and the rest of the thread was people trying to figure out what they could black-label or dropship off Alibaba, and a lot of market-testing using SEO domains + Google ads to permanently out-of-stock stores to gauge if people wanted their product. BFC has had some weird, weird threads over the years. (Though to be fair - I learned about the erotica self-pub market from a thread in this subforum and that actually really worked in spite of sounding like the dumbest idea imaginable. Maybe some goons retired as millionaires from drop-shipping kamado grills - gently caress if I know.)
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Jan 25, 2023 20:11
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Hieronymous Alloy posted:When I was a child my aunt, who had perfect credit, put me as a 2nd name on her credit cards, which she religiously paid every month. By the time I was in college I had something like a 750+ credit score. This was back in the 90's and my understanding is that no longer works like that. Still works. Also the One Wierd Trick with amex is that the credit history on all cards is backdated to when the original person first opened an American express account. Hence the previous poster with the 20 year old with a 25 year credit history. I helped a sibling get their score up very quickly this way.
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Jan 25, 2023 20:14
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A new Subway just opened up about 5 blocks from the office. Someone said "Oh, I want to try the new Subway and see how it is." She just spent roughly $20 after fees and tips to get a Door Dash delivery from there for lunch.  Gonna take a long-shot guess and say that it is pretty similar to the other Subway.
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Jan 25, 2023 20:23
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I'd bet it's probably pretty bland. A brand new Subway is too clean; hasn't yet developed its own unique terroir to differentiate it from that of other Subways.
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Jan 25, 2023 20:42
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DaveSauce posted:I'd bet it's probably pretty bland. A brand new Subway is too clean; hasn't yet developed its own unique terroir to differentiate it from that of other Subways. Misread terroir as terror and honestly it still kinda worked
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Jan 25, 2023 21:25
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I don't think I could Doordash a foot long sandwich from the Subway two blocks away for less than $25. Food delivery is terrible with money. It doesn't help that Subway pricing has ballooned over the past few years, and that every Subway in my area has a hand written sign on the window stating that they don't accept the Subway coupons that show up in my snail mail once every month or two.
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Jan 25, 2023 21:26
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subway business model is not selling sandwiches, its ripping off franchisees and squeezing them dry
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Jan 25, 2023 21:36
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DaveSauce posted:I'd bet it's probably pretty bland. A brand new Subway is too clean; hasn't yet developed its own unique terroir to differentiate it from that of other Subways.
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Jan 25, 2023 21:36
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The real BWM is opening a new Subway.
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Jan 25, 2023 21:47
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Is Subway the one that got sued because it encouraged new franchisees to open stores in places that already had Subway locations owned by older franchisees, thereby loving everyone, or am I thinking of some other chain that did this?
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Jan 25, 2023 22:05
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EricBauman posted:Is Subway the one that got sued because it encouraged new franchisees to open stores in places that already had Subway locations owned by older franchisees, thereby loving everyone, or am I thinking of some other chain that did this?
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Jan 25, 2023 22:13
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EricBauman posted:Is Subway the one that got sued because it encouraged new franchisees to open stores in places that already had Subway locations owned by older franchisees, thereby loving everyone, or am I thinking of some other chain that did this? Yep. Subway would also knowingly sell failing franchises to new owners, and one new owner found out about it when he went to the franchisee annual meeting and was referred to openly as the sucker who bought that failing one over at location X.
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Jan 25, 2023 22:44
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Get ready for the Fyre festival sequel: https://www.nbcnews.com/tech/internet/fyre-festival-fraudster-launching-latest-thing-looks-party-island-rcna62564?cid=sm_npd_nn_tw_ma
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Jan 25, 2023 23:46
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Pekinduck posted:Still works. Also the One Wierd Trick with amex is that the credit history on all cards is backdated to when the original person first opened an American express account. Hence the previous poster with the 20 year old with a 25 year credit history. I helped a sibling get their score up very quickly this way. You can still be an authorized user to gain the benefit of a longer credit line, but they stopped the backdating thing back in like 2015: https://www.doctorofcredit.com/american-express-no-longer-backdating-new-credit-cards/ I remember it being a big thing in the card churning community back then
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Jan 26, 2023 00:00
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Cacafuego posted:You can still be an authorized user to gain the benefit of a longer credit line, but they stopped the backdating thing back in like 2015: To clarify, yhey are talking about if you, the person who has been issued let's say and amex green card 10 years ago, applied for a gold card. Or a Platinum, or whatever other product they will no longer say your new card is 10 years old. This new product is 0 years old. Why does this distinction matter? Because people gamed amex to bump up their "average credit history" byt adding more lines of credit that were instantly as old as their oldest line of credit with amex.
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Jan 26, 2023 00:17
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