We will always have economic and income inequality. That won’t change. The best way to deal with this is to increase economic mobility and the opportunity to move up in economic status. Yet that isn’t happening or is happening way too infrequently. With millions more retiring and leaving the work force rhan entering it, the opportunities for upward mobility are greater every day. Yet it is not happening. Kids of low-wage parents tend to stay low wage. We are now in multiple generations of low wage parents raising kids. Breaking this cycle depends on quality education which of course we don’t have. The United States lags behind the world in educational statistics. And the minorities here bear most of the crappy education burden.
Wrong CO. The education system isn't failing kids as much as parents are. Low income families reproduce too often and don't place an emphasis on education. And this is specific to certain cultures - you saw Asians (I'm talking native Asian Americans, but also immigrants) who were in that bottom rung for a long time, adopt and value education and push their kids to succeed. Their parents also taught their kids morals, ethics and a sense of respect for society.
You don't see that in other segments (inner city black, rural white) of lower socioeconomic culture. Until that changes, throwing a bunch of money at education is foolish.
I normally never have considered trying to time a down market but there's been 2 or 3 times where I've had a gut feeling to get out and this was one of them. I was mostly out in 2008-2009 (at least in tax deferred accounts). I got out a little early and got back in a little too early but missed a lot of the dip.Trying to time stuff like that is how people actually get buried. As much as it sucks, this is short term relative to most people's investing timeline ahead of retirement.
There are 10 types of people in this world, those who know binary and those who don't.
I normally never have considered trying to time a down market but there's been 2 or 3 times where I've had a gut feeling to get out and this was one of them. I was mostly out in 2008-2009 (at least in tax deferred accounts). I got out a little early and got back in a little too early but missed a lot of the dip.Trying to time stuff like that is how people actually get buried. As much as it sucks, this is short term relative to most people's investing timeline ahead of retirement.
Hope is not optimism, which expects things to turn out well, but something rooted in the conviction that there is good worth working for. - Seamus Heaney, Irish poet and likely Hoosier basketball fan.
POTFB
Meanwhile, my meager portfolio is down about 5% from it's pre-invasion high (as of yesterday).
Mine is down about 2.8% and would be lot less if I had followed my gut instincts when told me to sell everything in my and my wife's IRAs when the war started.
Trying to time stuff like that is how people actually get buried. As much as it sucks, this is short term relative to most people's investing timeline ahead of retirement.
My risk averse, Trump hating wife was making noise some time back about cashing all our shit in before Trump blew everything up. I wasn't about to do that, but understood the sentiment. My after tax stuff is about 60/40 equities/bonds, while my IRA is around 80/20. I doubt she even realizes how "risky" that is, but when I set that up I wanted to get as much gain out of it as I could while I could, and it's done well. I told her recently that our paper losses are no big deal, and at worst one of us was going to have to die six months earlier than we planned.
I think the correct response is to blame said Americans for being dumb.
We will always have economic and income inequality. That won’t change. The best way to deal with this is to increase economic mobility and the opportunity to move up in economic status.
I think these two relate to each other. One reason many want to have economic mobility for the meritorious is so that we can blame people for being dumb (I know Car was referring to savings, but I think it equally applies here even if he might not) and poor.
I think it's worth considering that a major reason people want to blame people for being poor is so that they, the people thinking about the poor, don't feel bad or sad or guilty about the poor living in poor conditions or suffering. People feeling better is a good thing, all other things being equal, but I don't think it trumps the misery from lack of material circumstances that true poverty brings.
Rather than blame them, I think it's reasonable to say income inequality (edited here) is a natural feature of our world, but we can address the tragic consequences of poverty via a welfare state. That state should provide a basic, decent life for everyone no matter how dumb they are, because we, as a society, value human life.
https://twitter.com/TheDamaniFelder/status/2037897387474026955
This is great…did they find Hickory in the wild?
Rather than blame them, I think it's reasonable to say income equality is a natural feature of our world, but we can address the tragic consequences of poverty via a welfare state. That state should provide a basic, decent life for everyone no matter how dumb they are, because we, as a society, value human life.
I'm not sure what your defiinition of "decent" is, but we should help people who are down on their luck, going through a rough patch, etc... We shouldn't be backstopping people who don't try or who want to do nothing other than live off the taxpayers. We need to get our educational system fixed and incentivize people to finish high school and wait until they're married to have kids. All of those are common sense, but also politically divisive.
There are people deserving of long term help, but it's because of disability, not lack of effort.
Hope is not optimism, which expects things to turn out well, but something rooted in the conviction that there is good worth working for. - Seamus Heaney, Irish poet and likely Hoosier basketball fan.
POTFB
Income inequality is a natural feature of our economy. But that is not to say the same people are always in the lower income levels. I think it is also a natural feature of the capitalist free market system iis that people enter and leave the lower income levels constantly. The problem is that we impose artificial constraints on mobility that include everything from racism to bad education. Those who remain in a lower income levels for a lifetime might be there because of artificial constraints, or simply lack of effort.
I think the correct response is to blame said Americans for being dumb.
We will always have economic and income inequality. That won’t change. The best way to deal with this is to increase economic mobility and the opportunity to move up in economic status.
I think these two relate to each other. One reason many want to have economic mobility for the meritorious is so that we can blame people for being dumb (I know Car was referring to savings, but I think it equally applies here even if he might not) and poor.
I think it's worth considering that a major reason people want to blame people for being poor is so that they, the people thinking about the poor, don't feel bad or sad or guilty about the poor living in poor conditions or suffering. People feeling better is a good thing, all other things being equal, but I don't think it trumps the misery from lack of material circumstances that true poverty brings.
Rather than blame them, I think it's reasonable to say income equality is a natural feature of our world, but we can address the tragic consequences of poverty via a welfare state. That state should provide a basic, decent life for everyone no matter how dumb they are, because we, as a society, value human life.
Context is important. What is considered poverty now is vastly different than 100 years ago. To fail to acknowledge the material progress made under a capitalistic economic regime is an utter failure. It wasn't that long ago when people couldn't even afford or find food. Now, even the poorest have cell phones, TVs, etc.
Secondly, addressing the "tragic consequences of poverty" indicates that it is a societal problem rather than an individual one. That I take exception with. I don't disagree with some level of welfare and protection, but incentives ought to be developed that enable people to exit poverty vs. supporting them throughout their life in poverty. Too many solutions are medications that provide therapeutic relief instead of curing the actual ailments.
and at worst one of us was going to have to die six months earlier than we planned.
And did she thank you in advance for taking one for the team?
A good friend will bail you out of jail, but your best friend will be sitting next to you in the cell saying "that was f***ing awesome"
Those who remain in a lower income levels for a lifetime might be there because of artificial constraints, or simply lack of effort.
Personal decisions, negative cultural influences, inability to prioritize education, etc., all affect the probability of migration.
Meanwhile, my meager portfolio is down about 5% from it's pre-invasion high (as of yesterday).
Mine is down about 2.8% and would be lot less if I had followed my gut instincts when told me to sell everything in my and my wife's IRAs when the war started.
Even if you get lucky and time the top, you still have to time the bottom. Over the long haul it's a losing a bet, because most of the annual gains is in a very small percentage of the days.
"Am I then made an enemy to you, saying to you the sooth?
Galatians 4:16
I don't care if you blow me sh#t. Drop the pedo stuff or ignore me.
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