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This is practically lifted from one of the early chapters of Capital in the 21st Century by Picketty, where he discusses that prices were VERY stable during the early Modern period, to the point that when Austen wrote about the relative wealth and income of the gentry in her novels in the 1810s, it would be recognizable and sensible to a reader decades later who would understand the relative economic standings of the characters it references. This fed his main thesis that because growth was pretty "meh" during this period, and inflation was largely unheard of (he explicitly makes the point that you don't talk about dollars or euros or pounds nowadays in fiction because it'll be instantly dated, unless it's an outrageous sum like billions) this concentrated wealth and kept it such because all the avenues of investing money disproportionately went to the wealthy. Balzac's widowed father figure in post-Napoleonic France had bonds earning a healthy, tax-free, inflation-limited income could live an upper middle class lifestyle forever, and he can pass the bonds forward as an inheritance. (BWM was this same figure in Balzac's novel gambled it to attain the 1% lifestyle and hosed it up and dies destitute  )
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Nov 2, 2018 23:49
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Elephanthead posted:yes and since his loses came in 2018, and you can't carry them back to 2017, they will mostly expire useless. It is the most spectacular destruction of lives the IRS has ever accomplished. I wonder if the IRS will let the guy basically call a mulligan and accept an offer in compromise of his current $125k portfolio (or whatever he can cash out of it) and he would "only" be out the $5k in seed money. Assuming he get on this, begs forgiveness, and is a nice humble person.
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Nov 2, 2018 23:54
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kw0134 posted:This is practically lifted from one of the early chapters of Capital in the 21st Century by Picketty, where he discusses that prices were VERY stable during the early Modern period, to the point that when Austen wrote about the relative wealth and income of the gentry in her novels in the 1810s, it would be recognizable and sensible to a reader decades later who would understand the relative economic standings of the characters it references. This fed his main thesis that because growth was pretty "meh" during this period, and inflation was largely unheard of (he explicitly makes the point that you don't talk about dollars or euros or pounds nowadays in fiction because it'll be instantly dated, unless it's an outrageous sum like billions) this concentrated wealth and kept it such because all the avenues of investing money disproportionately went to the wealthy. Balzac's widowed father figure in post-Napoleonic France had bonds earning a healthy, tax-free, inflation-limited income could live an upper middle class lifestyle forever, and he can pass the bonds forward as an inheritance. (BWM was this same figure in Balzac's novel gambled it to attain the 1% lifestyle and hosed it up and dies destitute Yes good spot that is my source
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Nov 3, 2018 00:16
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Krispy Wafer posted:Wasn't bartering a factor in that? If something costs 2 chickens in 1200 AD it probably cost 2 chickens in 1300 AD. Productivity gains were not great back then so generations of people would be producing and consuming at approximately the same volume regardless of the year. Bartering didn't really have anything to do with it after the invention of money but long-term changes in productivity and economic growth are everything. The argument to absurdity is that growth rates simply cannot increase long-term at the rates they have in industrializing economies over the past hundred fifty years and by inference growth rates and productivity will likely slow dramatically in the coming decades in developed economies. As above, you can read, Thomas Piketty's book for a 500-page explication of this idea.
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Nov 3, 2018 00:18
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Something Offal posted:Not sure I understand your question. You can add some options to the base truck, but the way it usually works in the car biz is there are some things you can only get by going up to the next trim level. You can see those in the 'build&price' configurator thing if you're curious. I mean, the very concept of an F150 is a luxury. If you start from the basic premise that a vehicle exists to get you from point A -> B then you start with, say, a scooter (if we're going motorized) and move up from there. A basic car like a kei or, at least, something like an Up is your starting point. By the time you get up to a basic truck, you've added tons of "bells and whistles" that, although they constitute a base truck, are still huge add-ons compared to an Up or a kei car but serve little to no functional purpose. The fact that most people take these things and drive them to the grocery store makes those add-ons luxuries, rather than necessities. Even if you use it to haul stuff, do you really need the F150 or could you get by with a kei truck for most people? So I have no problem with calling an F150 a luxury vehicle, even if it's not optioned up to 68k. The average F150 was about 44k (okay technically f-series but they're mostly F150s, I'm betting), which has got 16k worth luxury options.
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Nov 3, 2018 00:28
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buying a kei truck in america is not as easy as visiting your local ford store tho
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Nov 3, 2018 00:44
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DELETE CASCADE posted:buying a kei truck in america is not as easy as visiting your local ford store tho ... basically cuz of lobbyists...
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Nov 3, 2018 00:45
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Hyrax Attack! posted:Buying a mega-yacht is BWM because of poor resale value and low steel content for scrap. Who is expecting their yacht to withstand a bomb blast? How would such a scenario unfurl?
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Nov 3, 2018 01:54
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bob dobbs is dead posted:... basically cuz of lobbyists... And safety standards. We need more options for people who need to haul stuff, but it needs to comply with modern safety standards.
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Nov 3, 2018 02:15
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TrueChaos posted:And safety standards. We need more options for people who need to haul stuff, but it needs to comply with modern safety standards. It has to be able to take a hit from an F150.
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Nov 3, 2018 02:18
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On the other hand, if everyone is driving kei cars and kei trucks, safety standards can be lowered, because instead of having five tons of steel barreling at you at 120 km/h, now it's less than one ton at 90, and if you take city speeds as a baseline then most people are going to come away with bruising. I exaggerate slightly but you get the idea. e: ^^^^^ dammit Elysium
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Nov 3, 2018 02:20
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Lockback posted:Did I ruin my life by trading crypto? Hahahahahahahaha oh god I love when they do this They never have ANY CLUE and then the CI asks for their stuff and starts threatening them. God I want to post ominous poo poo about what his options are other than settling for a payment plan. The IRS is the GOOD COP to the CI's tom clancy style motherfuckers who will set upon you like the midnight breeze carrying death through egypt FAUXTON fucked around with this message at 03:54 on Nov 3, 2018 |
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Nov 3, 2018 03:49
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https://www.hollywoodreporter.com/thr-esq/wesley-snipes-pay-irs-millions-tax-court-rules-1157190 the fight is over, daywalker the queen of blades has passed judgment quote:Wesley Snipes must pay millions to the IRS after failing to convince a tax court that he doesn't have the assets to pay more than six figures. In plain English, the judge is saying "that $852,061 offer is horseshit. Here are receipts showing we could reasonably collect more than ten times that amount. Please remit payment to the treasury via cashier's check or wire." FAUXTON fucked around with this message at 04:07 on Nov 3, 2018 |
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Nov 3, 2018 04:00
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FAUXTON posted:https://www.hollywoodreporter.com/thr-esq/wesley-snipes-pay-irs-millions-tax-court-rules-1157190 I cackled at this. Thank you.
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Nov 3, 2018 04:31
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Seems like doing 28 months in prison and paying less than 50 cents on the dollar to the IRS after more than 20 years might actually be GWM
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Nov 3, 2018 04:36
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Ford focus transit is the us equivalent of a kei truck. Japan has full sized trucks but it is not normal to use them for commuting like in the us. The kei truck is basically the largest you can go before you are no longer considered a light vehicle. The us also has an unusual situation with foreign made trucks and the chicken tax.
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Nov 3, 2018 06:41
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I hate how big American cars have gotten - they've become crossovers, SUV's and trucks.
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Nov 3, 2018 07:04
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SiGmA_X posted:I hate how big American cars have gotten - they've become crossovers, SUV's and trucks. Having a bigger truck is how you make America great again. It's more important that contributions to science, technology, peace or improving society.
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Nov 3, 2018 07:35
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Krispy Wafer posted:Wasn't bartering a factor in that? If something costs 2 chickens in 1200 AD it probably cost 2 chickens in 1300 AD. Productivity gains were not great back then so generations of people would be producing and consuming at approximately the same volume regardless of the year. Historically barter economies are very very rare and typically only arise after the invention and widespread use of money. Credit systems/tabs were much more common. Scroll over (yeah, sorry for the goofy layout) to the section on The Fabled Land of Barter https://www.canopycanopycanopy.com/contents/to_have_is_to_owe
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Nov 3, 2018 07:36
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That's correct after tribal societies credit was the next step. The idea promoting the difficulty of barter being the reason for money is mythology spread by economics text books.
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Nov 3, 2018 07:39
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SiGmA_X posted:I hate how big American cars have gotten - they've become crossovers, SUV's and trucks. Blame CAFE.
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Nov 3, 2018 14:37
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brugroffil posted:Historically barter economies are very very rare and typically only arise after the invention and widespread use of money. Argh. I have to stop reading articles about economics. They cause me to have brain hiccups. You know how sometimes a word starts to look/sound/feel wrong? That happens to me in regards to money whenever I start thinking about microeconomics. I picture myself getting this tiny ration of imaginary value from my employer, then passing smaller portions of that on to other people in exchange for concrete goods and services. I see myself pulling stupid pieces of fabric out of my wallet, and other people being glad to get them from me, and it seem so loving bizarre. I'm imagining that over and over, like I'm trying to force a word to sound right, again. I get it, but looking at it in detail borks my brain.
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Nov 3, 2018 16:00
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Just trading pieces of fabric with one another until we die.
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Nov 3, 2018 16:02
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In reference to that link, it's an excerpt from "Debt: The first 5000 years" So if you want an anthropologists perspective on "bwm" over the millennia, check it out!
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Nov 3, 2018 16:13
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Weatherman posted:On the other hand, if everyone is driving kei cars and kei trucks, safety standards can be lowered, because instead of having five tons of steel barreling at you at 120 km/h, now it's less than one ton at 90, and if you take city speeds as a baseline then most people are going to come away with bruising. More than that is that it needs to survive an encounter with a transport. Or a brick wall at 80mph. Not that a big vehicle is needed, but what is referred to as kei vehicles are not suitable for over here, outside of city use only.
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Nov 3, 2018 19:12
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I wonder how they drive on a highway at 70mph with a strong crosswind. I’m going to assume, “like rear end”.
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Nov 3, 2018 19:56
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I was listening to a Dave Ramsey podcast from earlier this week, there was a guy who owed $430k in medical student loans. The problem with that is he isn't a doctor, failed the boards twice and was "let go". So now he is working as a high school biology teacher. Dave was trying to figure out what he could do with the education he already had but to switch to something like a PA or nurse meant going back for more even more school. Dude is screwed. About 14 minutes into this episode. https://www.daveramsey.com/show/archives/2018-11-01/3?mode=listen
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Nov 3, 2018 20:31
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SiGmA_X posted:I hate how big American cars have gotten - they've become crossovers, SUV's and trucks. The price of gas went down and the entire American zeitgeist collectively decided to spend the extra $50/month they saved on a larger car payment.
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Nov 3, 2018 20:38
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tomapot posted:I was listening to a Dave Ramsey podcast from earlier this week, there was a guy who owed $430k in medical student loans. The problem with that is he isn't a doctor, failed the boards twice and was "let go". So now he is working as a high school biology teacher. Dave was trying to figure out what he could do with the education he already had but to switch to something like a PA or nurse meant going back for more even more school. Dude is screwed. I'm not going to listen to this but public service loan forgiveness might be an escape hatch for this guy.
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Nov 3, 2018 20:41
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Vox Nihili posted:I'm not going to listen to this but public service loan forgiveness might be an escape hatch for this guy. This was my thought as well or IBR assuming his private lender allows. But given that the DOE is trying to gently caress everyone on IBR or PSLF, he might actually have a better argument for undue hardship in bankruptcy.
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Nov 3, 2018 20:57
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brugroffil posted:In reference to that link, it's an excerpt from "Debt: The first 5000 years" What amuses me about it is that it's more considered and sophisticated than a lot economic thinking.
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Nov 3, 2018 21:09
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Krispy Wafer posted:I wonder how they drive on a highway at 70mph with a strong crosswind. Have you ever had the pleasure of driving a Smartcar on the highway? Compared to regular sedan-sized cars, they demand way more attention to drive and it's easy more draining. You have to be alert for every asymmetric bump or gust of crosswind trying to push you into the next traffic lane.
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Nov 3, 2018 21:38
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Mineaiki posted:Who is expecting their yacht to withstand a bomb blast? How would such a scenario unfurl? Roughly the equivalent of buying three years of food for a normal person.
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Nov 3, 2018 22:09
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Krispy Wafer posted:I wonder how they drive on a highway at 70mph with a strong crosswind. A lot of them simply don't go that fast.
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Nov 3, 2018 23:07
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therobit posted:A lot of them simply don't go that fast. Which severely limits their utility in a county of this size connected by an interstate highway system. I'd totally own one in Singapore. Not so much in the Northeastern US.
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Nov 4, 2018 00:30
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https://www.reddit.com/r/StudentLoans/comments/9tuco8/returning_to_school_questions_about_debt/ Oh boy. quote:I graduated from law school. Though I did really well at a high ranked school, I just despise (and frankly can't handle) the practice. It's not what I want to do. Given the amount of money in loans law school cost, fiscally it makes sense to just bite down and white knuckle it. Realistically, I'll eat a gun long before the bills are paid off (hah, only real way they'll get "discharged"...pun intended). So I have decided to return to school to focus on something that I actually want to do. What's tastier than a quarter million dollars of debt? More debt!
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Nov 4, 2018 00:38
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Is that dude like 32? Based on law school + the current loan balances it seems likely. I love the 41 year old fresh grad with 2 undergrad degrees + law degree + master's + 400k in student loans life plan. "I also tried to book time with several financial aid advisers, who were not at all interested." LastDeadMouse fucked around with this message at 01:12 on Nov 4, 2018 |
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Nov 4, 2018 00:56
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Why even redo undergrad? Probably can go straight into a master's program.
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Nov 4, 2018 01:04
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You are missing that if he goes back to undergrad he has to either pay in cash or with private loans which he might not get with that debt load. You cant get government loans when you have an undergrad program completed already. Why he is going back is likely to get a degree in that study, If he went into medical as an example most of his undergrad law wont apply.
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Nov 4, 2018 01:29
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tomapot posted:I was listening to a Dave Ramsey podcast from earlier this week, there was a guy who owed $430k in medical student loans. The problem with that is he isn't a doctor, failed the boards twice and was "let go". So now he is working as a high school biology teacher. Dave was trying to figure out what he could do with the education he already had but to switch to something like a PA or nurse meant going back for more even more school. Dude is screwed. If you graduate medical school and fail the boards, are you still an MD? I work in clinical research monitoring with several foreign MDs/caribbean MD grads who didn’t match. I’m a nurse and after only 3 years experience, I make probably 3x what a HS biology teacher makes, so MDs can still make pretty good money, even if they’re not a practicing physician. There are actually several jobs in clinical research that would kill to have an MD and not pay practicing MD money.
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