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skooma512)
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Twerk from Home posted:What does an old person who owns their house being a millionaire even mean? In plenty of metros that's probably $800k of housing equity and and $200k to attempt to live on for 30 years of retirement. Yeah if your including “housing value” in the net worth calculations and it’s just the home they live in basically everyone who owns a home and has no/little loan left on it is gonna be worth close to a million. I’ll be a “millionaire” by the time we pay of our mortgage but that seems like a kind of dumb way to look at it.
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Jul 12, 2023 14:26
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| # ? Jun 8, 2024 00:51 |
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Eric Cantonese posted:I thought the Uber project was some pie-in-the-sky scheme to monopolize taxi service in the future through cheap autonomous cars. That is part of it, but it was used to try and break unions and get workers reclassified as contractors to bypass certain labor laws.
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Jul 12, 2023 14:27
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Eric Cantonese posted:I thought the Uber project was some pie-in-the-sky scheme to monopolize taxi service in the future through cheap autonomous cars. Their current business model is to push all costs of maintenance and ownership of the vehicle off onto the "partner." There's no world in which owning and operating their own autonomous vehicles would be cheaper than that. Uber is employment of desperation, you are burning an asset you already own at unfavorable rates so you can make the rent.
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Jul 12, 2023 14:27
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Twerk from Home posted:What does an old person who owns their house being a millionaire even mean? In plenty of metros that's probably $800k of housing equity and and $200k to attempt to live on for 30 years of retirement. It's mostly language cruft from fifty years ago that hasn't caught up. "Millionaire" has a connotation of meaning "unbelievably wealthy," regardless of actual dollar amount. Nowadays you can't even really retire with just a million dollars.
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Jul 12, 2023 14:29
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Mr Hootington posted:https://twitter.com/JustinWolfers/status/1679116602934022144?t=TpdA6_03WlqtU9214NaeOA&s=19 https://twitter.com/byHeatherLong/status/1679113543499620355 It really feels like gaslighting when all of the most important things needed to survive are either omitted entirely from the inflation readings for being too "volatile" such as food, or the numbers are so obviously cooked as to be ridiculous like asking homeowners how much they'd charge themselves for rent, and then bundling that into the rent price statistics. Beached Whale has issued a correction as of 14:34 on Jul 12, 2023 |
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Jul 12, 2023 14:32
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Gwyneth Palpate posted:It's mostly language cruft from fifty years ago that hasn't caught up. "Millionaire" has a connotation of meaning "unbelievably wealthy," regardless of actual dollar amount. Nowadays you can't even really retire with just a million dollars. eh depends on how long your retirement is, 5% interest on a mil is 50k a year without even touching the principle, assuming you’ve paid off your house/car/student debt or whatever your expenses aren’t gonna be that high, so 50k+ SS wouldn’t exactly come off as rich but it’s certainly workable until you break a hip or whatever and all your money goes to medical bills.
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Jul 12, 2023 14:35
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people tend to use hnwi and uhnwi these days - $1 mill and $30 mill in liquid assets 5 million hnwi in the US according to a quick google
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Jul 12, 2023 14:37
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PoundSand posted:eh depends on how long your retirement is, 5% interest on a mil is 50k a year without even touching the principle, assuming you’ve paid off your house/car/student debt or whatever your expenses aren’t gonna be that high, so 50k+ SS wouldn’t exactly come off as rich but it’s certainly workable until you break a hip or whatever and all your money goes to medical bills. How do you get paid interest on the market value of your house?
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Jul 12, 2023 14:37
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Eric Cantonese posted:https://twitter.com/Nexuist/status/1678998833676558336 is that the albanian flag. why?
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Jul 12, 2023 14:42
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Twerk from Home posted:How do you get paid interest on the market value of your house? you don’t, but “retire on a million” sort of presumes the funds are in some sort of account, retirement or otherwise and that you have access to that money. if you have a 800k house and 200k in the bank you’re retiring on 200k, not a million.
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Jul 12, 2023 14:43
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genericnick posted:is that the albanian flag. why? Albania wants to take control of all of the balkans and become greater albania.
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Jul 12, 2023 14:46
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I support this
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Jul 12, 2023 14:46
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Mr Hootington posted:Wrong 
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Jul 12, 2023 14:47
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Gunshow Poophole posted:X
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Jul 12, 2023 14:51
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https://twitter.com/EliotJacobson/status/1678727804110905344?s=20
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Jul 12, 2023 14:58
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Eric Cantonese posted:https://twitter.com/Nexuist/status/1678998833676558336 I like how his original post was a massive misunderstanding of basic math and he tried to backtrack by making another extremely basic math error. The number is also half that if you remove primary residence from net worth, which makes it even funnier.
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Jul 12, 2023 14:59
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Been in the 70s here
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Jul 12, 2023 15:01
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hottest day on earth is average temp not median temp yet we just got done roasting the us wealth argument guy for the same thing. hypocrite much?
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Jul 12, 2023 15:06
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https://twitter.com/JustinWolfers/status/1679126869566799877?t=ysiem5v6KR8EMEn8mgN1sg&s=19
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Jul 12, 2023 15:10
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can’t buy a house or a car or afford healthcare, but the fundamentals are good !! 
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Jul 12, 2023 15:12
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https://twitter.com/JustinWolfers/status/1679130524588048388?t=MAPbut4D0iQHN2yk-L4hUQ&s=19 https://twitter.com/JustinWolfers/status/1679130617185746945?t=SgGTQspHANpKlxUCGrVCJA&s=19
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Jul 12, 2023 15:12
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Inflation is still 5% dumbass
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Jul 12, 2023 15:12
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Justin Wolfers im going to need you to go to the grocery store with two 20’s and see how many groceries you can buy. How many days would this last one person or a couple? why do these guys spend so much time looking at fake numbers when they can simply see the material reality in front of their eyes.
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Jul 12, 2023 15:14
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did he get confused on that one graph and think inflation was real wages ?
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Jul 12, 2023 15:14
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instead of food at a grocery store, just buy airline tickets instead
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Jul 12, 2023 15:15
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Gunshow Poophole posted:X
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Jul 12, 2023 15:17
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euphronius posted:instead of food at a grocery store, just buy airline tickets instead Fly to where the cheap food is. bing bong, so simple
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Jul 12, 2023 15:18
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Mr Hootington posted:Furman thoughts long thread I like how he throws the one that he thinks actually matters to real people at the end. "Here's what really matters to you, but we don't even think about it when talking about how good/bad the economy is."
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Jul 12, 2023 15:19
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Mr Hootington posted:https://twitter.com/JustinWolfers/status/1679130524588048388?t=MAPbut4D0iQHN2yk-L4hUQ&s=19 ?????
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Jul 12, 2023 15:24
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https://twitter.com/kaileyleinz/status/1679122907203510272
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Jul 12, 2023 15:24
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In Training posted:????? yeah I think he misread the chart
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Jul 12, 2023 15:28
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Mr Hootington posted:https://twitter.com/JustinWolfers/status/1679130617185746945?t=SgGTQspHANpKlxUCGrVCJA&s=19 here's the rest of this rear end in a top hat's graph.  now i'm not a professional economist but i'd think you don't want the wages to grow faster? this seems to be the beginning of the problem?
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Jul 12, 2023 15:29
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euphronius posted:yeah I think he misread the chart he didn't misread the chart, their job is to misrepresent poo poo since Joe Average doesn't look at the chart, just the synopsis.
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Jul 12, 2023 15:35
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mawarannahr posted:such a shame the employees are gonna get it. this is your fault, consumers. I was at the beer store recently and noticed that the normal-style budweiser cases were covered in harley davidson bullshit. It's hard not to read that as some sort of weird internal competition, like they're saying "but bud is still extremely tough and masculine." On the one hand it's like, do you actually think anybody who is mad at bud light is going to be tricked by this? And on the other it's like, poo poo, probably a lot of them are exactly that dumb, I guess that's worth a shot
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Jul 12, 2023 15:35
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a lot of LGBT people love motorcycles. maybe it’s that
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Jul 12, 2023 15:36
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JPOW: Spends 2 years playing charades trying to act out lower wages. Wolfers: Wages are up. Great news!
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Jul 12, 2023 15:40
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Wages actually up means that the Fed is going to punish us some more.
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Jul 12, 2023 15:42
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| # ? Jun 8, 2024 00:51 |
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PoundSand posted:why do these guys spend so much time looking at fake numbers when they can simply see the material reality in front of their eyes. Because his primary job is being a democrat propagandist
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Jul 12, 2023 15:45
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