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I can't remember if it was Rich Dad Poor Dad or another pet fave of that era, The Millionaire Next Door, that promised if you were thrifty, and didn't spend money like you'd never had it, you can make millions too. When the reality is that everyone rich I ever knew or worked for had some combo of inheritance, investments in bloodsucking industries like the FIRE sector, or an ivy league pedigree at the graduate level. (Aside: I've always hated the trope that "rich people are rich because they're penny-pinchers not spendthrifts" bc it just reminds me of how poor people make more charitable contributions than rich people and also rich people think they get a pass on treating service workers poorly because they're teaching them frugality.)
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Jan 5, 2024 07:27
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Mustached Demon posted:just don't buy near a coal seam fire Or a horribly-built dam
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Jan 5, 2024 07:30
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Pittsburgh Fentanyl Cloud posted:Back in 2009 I was rooming with a guy who hated sports and the closest place to watch hockey or football games was Applebees. The friday and saturday night bartender's husband would come and sit at the end of the bar and stare at anyone who talked to her too much while just drinking water for her entire shift. I just stopped watching hockey because of that freak gently caress lol that's definitely a domestic abuse red siren they're probably getting squeezed by fast casual joints focusing on take out, these places popping up all over and ehh similar food, cheaper price point
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Jan 5, 2024 07:32
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Mustached Demon posted:they're probably getting squeezed by fast casual joints focusing on take out, these places popping up all over and ehh similar food, cheaper price point Unless we're talking about Five Guys...
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Jan 5, 2024 07:34
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Willa Rogers posted:I can't remember if it was Rich Dad Poor Dad or another pet fave of that era, The Millionaire Next Door, that promised if you were thrifty, and didn't spend money like you'd never had it, you can make millions too. It's incredibly lovely to say, but it's not hard to look at a household's income and very quickly determine how likely they are to ever be wealthy or even financially comfortable. Your income and expenses are what they are and most families making a typical household income or less can play with maybe a few thousand dollars up or down each year by really pinching pennies. People in that position are just not ever going to have the money to drastically change their circumstances or even substantially pay down large debts. No amount of folksy financial advice will make money appear out of thin air. The only meaningful advice is to always be doing everything you can to put yourself in a position where you at least have a shot of increasing your income. Anything else is just bullshit.
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Jan 5, 2024 08:06
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"Financial literacy" is just telling people how to settle for less.
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Jan 5, 2024 08:19
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Paradoxish posted:It's incredibly lovely to say, but it's not hard to look at a household's income and very quickly determine how likely they are to ever be wealthy or even financially comfortable. Your income and expenses are what they are and most families making a typical household income or less can play with maybe a few thousand dollars up or down each year by really pinching pennies. People in that position are just not ever going to have the money to drastically change their circumstances or even substantially pay down large debts. No amount of folksy financial advice will make money appear out of thin air.
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Jan 5, 2024 08:25
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Paradoxish posted:It's incredibly lovely to say, but it's not hard to look at a household's income and very quickly determine how likely they are to ever be wealthy or even financially comfortable. Your income and expenses are what they are and most families making a typical household income or less can play with maybe a few thousand dollars up or down each year by really pinching pennies. People in that position are just not ever going to have the money to drastically change their circumstances or even substantially pay down large debts. No amount of folksy financial advice will make money appear out of thin air. There's that quote that's been kicking around as least as long as I can remember that's sort of meant to be inspirational or whatever "the first million is the hardest" where everyone sort of understands that having money means coming by more money is substantially easier but despite most people seemingly understanding the phrase I don't think your average person really gets just how much money you can make for literally zero effort when you already have lots of spare money. If you had even just a hypothetical spare million dollars you could make 50k/yr, or close to median individual income on incredibly safe investments while doing absolutely nothing else with your time. Passive revenue streams are seemingly the modern 1st world dream, why everyone wants to become a rent seeking landlord or w/e while complaining no one wants to work anymore, and you can have exactly that without even having a business or any tangible thing to rent seek off of when you already have lots of money. Really you could just give every american 2 million dollars in a trust they were only allowed to spend the interest off of as a one time thing and boom everyone is making 100k a year in perpetuity and we could all retire and live happily ever after. Obviously this makes no logistical sense on a broad scale because someone has to be doing something for money to actually translate to anything but as stupid as that sounds it's the world rich people already get to live in.
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Jan 5, 2024 08:26
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PoundSand posted:And the only answer to this is really "to already have money". Yup. If you had the million dollar you could put it in a settlement fund at Vanguard, which a money market account typically where money sits before you buy into a fund or a stock, and earn 53k a year in interest at the current rate of 5.3%. That would cover my rent, in Los Angeles, and still have money to spare
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Jan 5, 2024 08:29
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Electricity price numbers in Europe is going up today, lol!!!!! Sweden   quote:HELSINKI, Jan 5 (Reuters) - The Finnish electricity system was stable on Friday morning and demand was somewhat lower than expected, power grid operator Fingrid said amid a surge in prices prompted by a prolonged cold spell. Thanks a lot Genocide Joe, you CHUD Terrorist Piece Of Sh*t! Die in twin tower fat hamburger 🖕
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Jan 5, 2024 10:56
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It's like European Texas.
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Jan 5, 2024 11:30
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gradenko_2000 posted:"Financial literacy" is just telling people how to settle for less. This but unironically
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Jan 5, 2024 11:40
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i say swears online posted:honestly nowhere better on the planet than applebee's to slam a dozen $1 long islands after getting fired https://www.youtube.com/watch?v=2RPjK6EwfCI
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Jan 5, 2024 12:21
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Jon Pod Van Damm posted:Electricity price numbers in Europe is going up today, lol!!!!! This after EU inflation came in hotter than expected. -Hoot
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Jan 5, 2024 13:06
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i say swears online posted:also i'm going to beg y'all to reconsider thinking tgifriday's, applebee's and chili's closings are signs of waning affluence or a shaky economy. if anything at this point they're counter-cyclical businesses like mcdonald's I feel like the people who used to be able to afford a night out at TGI Fridays or Applebee's are stuck going to Wendy's or McDonalds now. If you're a Premium Consumer you weren't going there anyways since it was always prole feed.
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Jan 5, 2024 14:11
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Stocks currently tanking because the economy is too good https://twitter.com/DeItaone/status/1743263652680003619
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Jan 5, 2024 14:41
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More employment means more energy use/higher relative inflation and therefore less of a possibility of rate cuts.
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Jan 5, 2024 15:05
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JAY ZERO SUM GAME posted:yea rob mcelhenney was really open about all the logistical support he got in losing the weight he gained, and how many doctors told him his health was at risk while gaining all that weight While he's being snarky about how all that work is a drag, I will say that not eating after 7pm (or some X hours before you sleep) is one of those rare "weird tricks" that works incredibly well for me. I can both sleep better and even before I started doing intermittent fasting, it seemed like not eating at night helped me maintain an upper limit of weight. Intermittent fasting also works really well for me, but I'm under no illusion that it's not for everyone. While the claim is getting your body into ketosis, the real benefit is skipping a meal.
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Jan 5, 2024 15:21
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Cheesus posted:I will say that not eating after 7pm (or some X hours before you sleep) is one of those rare "weird tricks" that works incredibly well for me. I do it to just manage acid reflux without needing meds and it's been a huge QOL improvement
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Jan 5, 2024 15:40
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PoundSand posted:
Moral hazard!!
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Jan 5, 2024 15:42
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Willa Rogers posted:I can't remember if it was Rich Dad Poor Dad or another pet fave of that era, The Millionaire Next Door, that promised if you were thrifty, and didn't spend money like you'd never had it, you can make millions too. The Millionaire Next Door is probably the one about encouraging thriftiness. I believe it has anecdotes how many millionaires are retired teachers who were good about contributing to their pension plans. Rich Dad, Poor Dad is more halfass investment advice based on setting up closely held corporations and using "zero down" loans (which by the way, banks haven't done on a general basis without requiring crippling interest rates for decades) to build up a real estate portfolio. Also, it encourages you trying to form friendships at country clubs to try to get access to insider information for stock trading. Eric Cantonese has issued a correction as of 16:06 on Jan 5, 2024 |
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Jan 5, 2024 15:54
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I mean, being thrifty is a good idea. You're just not going to get rich doing it. Most Americans max out their spending as their income increases because that's what Capital wants them to do and it's a pretty bad idea
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Jan 5, 2024 15:59
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Thriftiness will let you manage debt and maybe sock away an emergency fund, but middle-class wealth was built by the real estate bubble. Those books are better off telling people to build a time machine and go back 30 years to buy a house.
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Jan 5, 2024 16:02
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https://twitter.com/thejb_stan/status/1451230306254692353?s=46 can you imagine any other academic field where the people that ostensibly earn phds and then go on to work in economic departments in government literally don’t know the historical record of their own area of expertise? it’s unbelievable to me that I had to go learn it on my own to supplement my own econ degree, business schools are a complete joke. none of my professors had even read the works of Ricardo or Smith, forget any of the later thinkers. the cult of the stupid little toy graphs that apparently can model Reality is so ingrained in the field that it’s not surprising that neoliberalism is now lurching under its own weight and contradictions. we’re reaching lysenko levels of delusions because of it
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Jan 5, 2024 16:08
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Beached Whale posted:Stocks currently tanking because the economy is too good Added jobs, but unemployment went up. -Hoot
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Jan 5, 2024 16:08
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Mr Hootington posted:Added jobs, but unemployment went up. New year new hoot looking good
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Jan 5, 2024 16:13
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It's almost like the jobs suck and don't pay enough money and people would rather not work than throw their lives away on these poo poo jobs that would kill their souls
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Jan 5, 2024 16:18
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the popes toes posted:Pittsburgh’s Astrobotic Technology is launching a moon lander this Monday, replete with DHL advertisement. if this makes it something i designed and carries my initials will be on the moon forever 
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Jan 5, 2024 16:18
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dk2m posted:https://twitter.com/thejb_stan/status/1451230306254692353?s=46 imagine a professional PhD physicist who was not familiar with the works of Isaac Newton they're outdated, they don't account for relativistic effects, so we just don't learn them anymore
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Jan 5, 2024 16:19
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loquacius posted:imagine a professional PhD physicist who was not familiar with the works of Isaac Newton Economics as “practiced” in the public sphere is a political tool, not a science as this thread already knows. It is retroactive justification for a fundamentally unjust and hosed up system that is increasingly incapable of facilitating the most basic tenets of organized society.
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Jan 5, 2024 16:26
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Nuclearmonkee posted:Economics as “practiced” in the public sphere is a political tool, not a science as this thread already knows. It is retroactive justification for a fundamentally unjust and hosed up system that is increasingly incapable of facilitating the most basic tenets of organized society. yeah I misspoke a little bit, it should have been "imagine if professional PhD physicists had a huge amount of input on public policy and none of them, not a single one, was familiar with the works of Isaac Newton"
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Jan 5, 2024 16:28
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Nuclearmonkee posted:Economics as “practiced” in the public sphere is a political tool, not a science as this thread already knows. It is retroactive justification for a fundamentally unjust and hosed up system that is increasingly incapable of facilitating the most basic tenets of organized society. As we speak the public transit agency here is in a contract dispute about their covid vaccine mandate that they are almost certainly going to lose. In a sane world, mandating vaccination for employees makes sense if just to help ensure quality of service by keeping drivers in seats, but that is fundamentally incompatible with a future where social and collective responsibility no longer exists and everything is just a personal consumer choice and all consumer choices are equally valid.
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Jan 5, 2024 16:29
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Pittsburgh Fentanyl Cloud posted:As we speak the public transit agency here is in a contract dispute about their covid vaccine mandate that they are almost certainly going to lose. In a sane world, mandating vaccination for employees makes sense if just to help ensure quality of service by keeping drivers in seats, but that is fundamentally incompatible with a future where social and collective responsibility no longer exists and everything is just a personal consumer choice and all consumer choices are equally valid. My hot take is that the adoption of "my body, my choice" rhetoric around abortion, casting it as a personal consumer choice, has done a lot to lead to this moment, and it would have been more responsible and probably more successful to use the "safe, legal abortion is healthcare and would prevent an epidemic of broken families" angle or a similar societal-health one but it's moot bc the alea est pretty goddamn iacta on that one
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Jan 5, 2024 16:34
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The people shrieking "my body my choice" about vaccination are just trolling and would be adamantly against covid vaccination mandates even if "my body my choice" were never a thing. My last employer mandated flu vaccinations for everyone, whether they were clinical or not, and no one gave a gently caress.
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Jan 5, 2024 16:35
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loquacius posted:yeah I misspoke a little bit, it should have been "imagine if professional PhD physicists had a huge amount of input on public policy and none of them, not a single one, was familiar with the works of Isaac Newton" I can imagine that, they probably work at SpaceX.
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Jan 5, 2024 16:36
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We are so back https://twitter.com/FirstSquawk/status/1743287092291998140?t=KiUJ1gmeidOG8JAMfMQ9-Q&s=19 -Hoot
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Jan 5, 2024 16:39
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Pittsburgh Fentanyl Cloud posted:The people shrieking "my body my choice" about vaccination are just trolling and would be adamantly against covid vaccination mandates even if "my body my choice" were never a thing. My last employer mandated flu vaccinations for everyone, whether they were clinical or not, and no one gave a gently caress. https://twitter.com/PiersRobinson1/status/1742802923170525426?t=GHI3pkNS4Mw-vM9PkUnzSQ&s=19
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Jan 5, 2024 16:40
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Hoot why are you unironically signing your posts?
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Jan 5, 2024 16:40
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dk2m posted:https://twitter.com/thejb_stan/status/1451230306254692353?s=46 it’s just astonishing the lack of intellectual curiosity, in medicine no one learns about Humors and vapors anymore but it’s very fun to read about it, but to be proud that you’re an ignoramus is maddening
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Jan 5, 2024 16:42
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he's a low effort troll just trying to get that reaction as many times as possible because any attention of any kind gets him off
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Jan 5, 2024 16:42
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