Message from @Deleted User
Discord ID: 459153741137051668
@Zyzz ^
was listening to some stuff around YouTube, was caught off guard by this guy 😅
I understand this is far too long for any of you to probably watch in a reasonable time frame, but basically he discusses the major conflict of interests between the markets and those who use them
Those of you who have a better understanding of the financial sector, would you tend to agree with his analysis of how essentially the 90/10 is perpetuated by the IB's/Brokers themselves because its nothing short of a racket?
I feel like I just took the financial red pill 😅
I'm interested in what this guy's end game is though.
Interesting discussion from /r/PersonalFinance:
50% of the boomers have less than $100K saved for retirement. 76% have less than $300K.
Source: <https://www.fool.com/retirement/2016/12/17/baby-boomers-average-savings-for-retirement.aspx>
"My wife uses this statistic to argue against putting more money away for retirement. Her reasoning is that very few Americans have saved anything. The government can't let tens of millions of elderly starve, so they'll tax the people who have saved to cover those who have not. She says it's better to live large now rather than be frugal and then have our savings go to someone else."
That's why I support keeping some savings outside of the traditional banking system.
The living large thing I definitely disagree with but if you just use traditional retirement options you're probably not going to be very happy when you're ready to retire. Personally my plan is to slowly transfer my wealth to my children before I die to make sure that I can teach them responsibility and also hopefully avoid as much taxes as possible. I want to die a poor man with a rich family.
@Tanner - SC i highly highly doubt they will ever tax net worth or savings. None of the financial elites will allow that to happen. no way in hell
There's no telling what they would do in a crisis. The elites will find a way to protect themselves. I'd honestly be most worried if you were relying on any sort of government pension or savings program but who knows what they would be willing to do to prevent food stamp riots.
Taxing net worth will not be one of them. Waves of wealthy individuals will give up citizenship and move to like Singapore like that one Facebook investor did after the IPO. And that was just a one time tax! Just think how quickly those billionaires would leave if they were going to tax net worth year after year after year.
Yeah I expect that anything the government does will be sold as a one time emergency measure. Who would have thought that they would keep taxing income after the World Wars? Tariffs will never drop below 50% of the Federal revenue. Once we get rid of those dang ransoms to the Barbary States we'll have a massive surplus!
Has anyone tried any of the micro-investing apps like Acorns or Stash?
@commonplebe - IN sounds like a concept similar to DRIP accounts, which allow you to buy fractions of shares of companies, they've been around for a while and if you don't have a lot to invest but would like to get your feet wet it seems better than doing nothing.
Quick google of a review of them, it seems Stash gives you options in what your money goes into. I think that's a more interesting introduction to investing. It helps to have options so I would go with that. Acorns on the other hand doesn't give you any choices in what the money gets invested in.
@ThisIsChris Thanks for the advice.
>Fox /ourguy/?
@Deleted User yeah it's pretty cool to look at stocks and see how their prices react to world events
This is a very far off trade idea, but you guys ever think about how much opportunity will be created by asteroid mining?
A single 30m asteroid can contain 30B in platinum.
Others are also nickel/iron/gold heavy
They can all upset the supply of most metal related markets like hell
So: short on metals, long on mining companies.
And for those not in the know on this stuff: No, it's not *that* far off. We already have companies attempting this, companies like PlanetaryResources and DSI, and NASA (although recently canceling in 2017 the program) has also worked on asteroid redirection and recovery.
Yeah, the only people with enough of a reason to get off planet are mega corporations. That's why colonizing other planets is going to be hellish
I think it'll accelerate in the near future again
If one country ramps up space efforts, all countries do. Space races are great.
Do you think the space force could go hand in hand with these ventures? Basically becoming like our navy defending off world trade routes?
mmm
i don't think we'll have any need to defend space ventures for a long long time
There's actually alot of space laws and regulation concerning spacial property already
Two words: space pirates
yeah, like I said, it'll be a long time before we have space pirates 😅
access to space isn't *that* easy/cheap yet
put simply, there could be space pirates, when its safe and economical to be one at all.
Now if these pirates are governments just being cheeky, then that's different. And then there will really be problems