God's semen spurt all over the Earth and apparently his semen is what we call gold. I gathered up a bunch of that and sold it to thirsty girls for sex.
Invest regularly. Begin when you are young (early 20’s). Reinvest dividends. Enjoy the benefits of compounding. Use indexed funds for diversification. Don’t try to time the market. Don’t watch your investments daily.
Live below your means - well below them. Avoid buying a bigger home. Most folks don’t need it - and it’s a lot more debt. Don’t take on debt without serious thought.
When you are old (like me), take your time when selling investments. Your gains will be substantial.
When I began investing - the market crashed - in 86. But I didn’t have enough money to buy up stocks in large quantities. I kept investing consistently through the ups and downs. The internet boom - then the bust. The downturn of 2009 - economic bailouts TARP, and a major recession. It requires discipline and commitment - but it works.
People putting their money into stuff which they have zero predictive knowledge of an zero control over, and then patting themselves on the back.
Our high stock market is not a good sign. It is a bad sign, it shows that people do not see better things to do with their money. It is a sign of fatalism that people would put money into something so inflated, and then demand the our government continue to subsidize it with tax cuts.
UNBELIEVABLE!
People need to invest their talents and money together, in their own ventures, as these will employ a next generation of talent.
Gambling on the stock market, that is all it is, gambling.
I learned rare skills in college and in my first job. After a couple years I was in demand, so companies would offer me a piece of them in addition to a decent salary. The companies succeeded wildly (partly due to my efforts), and I cashed in and first retired at 26. Later I took on less lucrative but still fulfilling occupations, and am still enjoying life today.
You are in the company. But also, accepting the stock is just to show that you are a team player and that you are on board. And you are using your own skills as fully as possible.
Glad things worked for you!
But for others, just looking for how they might bet against the hedge, insurance, and pension fund managers, acting like they somehow know more, and then expecting the government to make it work out by pitching supply side nonsense, UNBELIEVABLE.
The stock market is a Ponzi Scheme! Money going in even reflects back on balance sheets, so it is not just inflated price to earnings, it is also just Ponzi earnings, UNBELIEVABLE.
Wealth is relative. One person's comfortable retirement is another person's poverty. I've still got 16 years or so until retirement (knock on wood <knock> <knock> <knock>), but I second what Ishmael and Cashman have said. Hard work, and invest consistently as early as you can. I'm not going to be as flush as as some of the TUSCLers on here, but the retirement calculators say that I'm on track to my goal of having a nest egg in the low seven figures to retire comfortably, i.e., more than $1M but less than $5M. Only time will tell if this will pan out, but it seems do-able. I've invested in my 401(k) since my mid 20's, and maxed out every year since I was in my early 30s. We live below our means, and don't spend extravagantly. Picking the right mate helps - my wife is nearly as frugal as me, and in some ways, even more so. But it's not like we sit around watching over-the-air TV forgoing cable, eat mac and cheese, and keep the temp turned down to 50 in the winter. We buy normal things and indulge occasionally, and stick to a budget. One of my vices is driving nice cars, so that's one of the few areas where splurge, but we drive those things into the ground before thinking of buying a replacement. There is a book called "The Millionaire Next Door" https://www.amazon.com/Millionaire-Next-… that I thought was a really good read. It studied the habits of self-made millionaires, and found that they had a lot in common, such as frugality, living below your means, not spending to keep up with the Joneses. The authors found that typical millionaires were generally small business owners, and teachers were also really good savers. They found that doctors were terrible at saving. I don't remember if they reached this conclusion, but they might have found that attorneys were also bad savers. That's because both of those professions generally had much higher incomes than average, and doctors and lawyers typically wanted to show their success by spending their money on showy things.
@mark94 - yes, definitely the magic of compound interest. Four+ decades of compound interest is good stuff, even with the ups and downs of the stock market. The best strategy for most is probably "time in the market," rather than "timing the market." Unless you're watching your retirement accounts constantly, you're not going to be able to trade effectively to catch the swings in the market correctly - and even then, you probably won't. Also, a lot of investment advisors aren't worth shit. I tried to do some direct investing outside my 401(k) with an NYC brokerage firm. The advisor was very eager and was watching all sorts of indicators, following news and reports, etc. all the time, but over a 2 year period, I lost over $10k. I eventually unplugged the rest of my money with him, and dumped it back into traditional retirement investment vehicles, where they've been happily earning normal (though not impressive) annual returns.
I have absolutely no desire to ever work even close to 60+ hours. That sounds like my definition of hell.
I value my free time a lot. I don't want to have the majority of my waking hours consumed by work obligations. The way I see it. If you don't have the time to enjoy your money you might as well not have it.
I'm guessing CC99 is a millennial? Or he just speaks millennial fluently.
I'm in my mid 50's and I've been working since I was about 12. I started cutting lawns, shoveling snow, raking leaves, and digging ditches. I've had a job steadily for close to 40 years. I was laid off from my former employer after 31 years - and was out of work for a month before landing with another bank.
Work ethic is very important - and it is not easy to instill once the teen years have passed.
I'm not trying to avoid work entirely but I don't want to spend the majority of my waking hours doing it. There's a whole world of entertainment and pleasure out there I'm not trying to miss out on that cause I'm too tired.
My brother is paid full time but in practice he only has to work 20-25 hours a week. He gets all his shit done by 2:00-3:00 then dips out and leaves.
CC - why not have it both ways? So far this year I have skied 9 different mountains and golfed 32 different courses. I never fly for work but I have flown 10 times. In addition, I lived my life sort of upside down by working part-time until I was 30; taking 1998 off from work and taking 2014 off from work. I work a lot because I am almost 62 and the clock is ticking on my ability to earn. Working alot is natural for my generation. We also managed to enjoy life as well. I cherish my 45 years of smoking weed as I sit here smoking legal Ghost Train Haze and strip clubbing last night was awesome. Nothing makes one more handsome and richer than no other customers. I also now feel that amamzingly full contact dances with very hot 21/22 year old dancers is better than extras with others, so I had a blast. Time for Wegmans.
I feel like I wouldn't have any energy after working that much. I've worked a few 10 hour shifts at my summer jobs and I always come back feeling absolutely exhausted and run down. Going to classes makes me really exhausted, although I will say that the impact 1 hour of class has on my energy is similar to more like 3 hours of work. I feel way more exhausted at college than I do at my summer job even though I technically work less hours.
But I find that at the beginning of the semester, I do a lot more fun things and am more adventurous. As the semester goes on I become more exhausted and seclude myself. I don't have the energy to be able to choose work hard, play hard. I have to distribute it properly.
I'll let you know in 10 years. In the meantime, I'm long term investing with dividends in first place and growth very closely behind. Also self business ventures.
Someone mark the calander to bump this thread 10 years from now.
@SJG I finally read your post (the first one on this thread) and I gotta say, your both right and wrong in my personal opinion. Yes, we are using money to invest invest in businesses we have little control over, HOWEVER, that's not to say their stock worth is based on a fugazi. It's based off the effectiveness of the product and the value the CUSTOMERS deem it by purchasing the company's goods. Not everyone can own a business, but if a poor youth can take advantage of the stock market to get out the ghetto, dont hate him for actively striving for the better things in life.
My first job was a paper route at age 14. I had 7 different newspapers and started by buying a route of 38 customers and grew it to about 60 customers. I’ve never been a good saver, living life for enjoying today ( for tomorrow we may die). I had a career with a decent salary and started investing in a tax sheltered index fund, but then spent a quarter million educating my kids, retired with a healthy pension (about $80k). My best friend died when we were 57. Another good friend from college was very penurious, retired at age 58 with about $3mm saved. He stroked out 6 months later. His widow is enjoying it now. Around age 60 I started spending on strippers. I worked 1/2 time for $50k and this allowed me to spend close to $1000 a week on clubs & strippers. I thought I’d be dead by now. My wife had Alzheimer’s and I quit work & took care of her and cut way back on strippers. My wife died, my savings are all gone and I’ve got my pension which covers expenses and allows $400 - $500 a month for strippers. I might live another 10 years or drop dead tonight. Now interestingly I’ve had some contact with widows looking for companionship ( and one who says she’s looking for a little action). I’m giving some thought to whether there might be a source of funding there. The rumor is that you can’t take it with you.
What Loper says makes the most sense. I am guessing he is talking about getting in on pre-public start ups. So the employee shares cost almost nothing, just like 1 or 2 percent of what the VC's pay for their shares.
So really no risk. Still getting paid. And his own career is being furthered by the greater opportunity to do different and more complex things in a start up, and he is also helping to make it happen personally.
And you can go from one to another, as you are in the circle of people and investors who do this.
I have done the same myself. But it does not sound like anything I did ever worked out as well as it did for loper.
But the organization I am building will be engaging in the same sorts of Smart Entrepreneurship.
But just to be trying to out smart the professional pension, hedge, and insurance fund managers, and then think you have scored something just because the market rises, pretty stupid. They know far more and do far more computer analysis than you ever could. And their trades are so big that they are what determines the current pricing.
For most people the stock market is just a glorified gambling obsession. And people expect our government to keep pursuing idiotic policies which sustain it. Hence we have Trump.
Here in CA we have a state lottery. Other states have these too.
If there is a big increase in the money going into these lotteries, does that mean that we have a good economy?
No of course not. It just means that people are getting more fatalistic. They believe that unless you strike it rich, then life is not worth living. So they are willing to give up their hard earned money for an infinitesimally small chance of getting rich.
Why is it so hard for people to see that the stock market is the same thing? People put money into it because they cannot see that there could be better things to do with their money.
That is the money people could use to start their own companies. And those companies will in turn be hiring people, younger people.
Companies started by professional venture capitalists actually have a much higher failure rate. They are over capitalized and their plans are stilted to try and get giant returns. But this also greatly increases the failure rate.
Owner financed start ups have a far greater success rate.
People building teams and starting companies expands the middle class and it increases the rate of innovation.
But putting money into the stock market usually just makes the rich richer. And then expecting the government to cover you with tax cuts to keep pushing these markets up will eat our country alive.
Poor youth using the stock market to get out of a ghetto is very much like people trying to use the state lottery to get out of the ghetto.
Starting a business, WITH A TEAM, however, is very constructive. It is what gives younger people high quality work experience and what is most likely to do real innovation. It expands the middle-class and builds a future.
People who get hired as low badge number for startups, like it sounds like loper did, they have a chance at getting good stock nest eggs, but with essentially zero risk, cause early employee stock on a pre-public is offered at almost nothing.
Say Pro VC's put in $5Meg, knowing fully well that they will have to put in more money like that, and that they might lose it. But employee stock might go for 1% to 5% what the VC's pay.
If the company succeeds, this employee stock will trade for close to the same amount per share as the VC stock. So you get a 20 to 100x return just from that! And then usually the VC's are looking for about another 10x for themselves. So your return is then 200x to 1000x.
But VC funded has much higher risk than owner funded. And that money being used, stupidly in my opinion, by buying into the stock market, is the money which otherwise could be used to start new companies, hire young people into good careers, not just jobs, and expand and sustain the middle-class.
The way things are now, you have this mountain of dump useless money, about the same size as the national debt, and all it does is inflate the stock and real estate markets.
God, nothing I can do with my money. I have no skills except in spending money. So I guess I'll just put it into the stock market, and then keep voting for Republicans cause they will cut upper income taxes so that this ponzi scheme can keep going.
"expect hard working people to subsidize their useless lives?"
Yeah, Senile-Suicidal Skibum yelling out the bared window of his locked nursing home.
The poor have always worked harder. Had to. No different today. A poor person uses more brains each day than a rich person uses in a month.
I hadn't realized how serious it was at the time, but we never should have let Reagan set up the IRA and 401K accounts. These actually get a tax break, and all they are is an attempt to undermine Social Security.
Far better that retirees and the jobless get supported off of current tax revenue, than that people are encouraged to try and hold onto money and use it to inflate the stock and real estate markets.
Keynesianism and its high progressive taxation, max 90% to 70%, worked perfectly for over 40 years. Never failed, except maybe when OPEC formed because the middle-eastern nations wanted something more fair for their oil.
Only the very shallowest of booms and busts under Keynesianism. An entire generation of Americans really had it good. Get a good job, buy a house, support a family, and know that you will be taken care of in old age, if you get sick, or if you become disabled. Who could want more?
Were there problems, yes racial, and women were left out, and there was very little protection for the rights of children. The rich did not have that much control over our democracy, not with the high taxes, and even a smaller split between owners and workers on pre-tax incomes.
So what happened? Well there was a back lash against the War on Poverty, the women's movement, and the civil rights movement.
And then the US had installed this Shah of Iran, and there was a revolution. Americans ended up being held hostage.
And the the Christian Right was furious that the federal government would dare to enforce the 1964 Civil Rights Act on Bob Jones University.
So Americans who had had such a great thing, voted against it and elected an icon of reaction, Ronald Reagan.
Soon Poor People were seen as Bad People, and like Reagan said, "I'm for an American where everyone can get rich." And what does that mean, it means controlling the land, the labor, and the capital. It means you want to get rich by making other people poor.
So soon our cities started to fill with homeless and the national debt started to explode.
And who gets the most benefit from taxation and spending?
Well it is those who collect wages, salaries, service fees, and business profits.
They get these because there are people who have money to spend. And what keeps this mid sector of the socio-economic hierarchy in place is taxation and spending.
If Skibum does not like this, let him relinquish his income.
Most every society has always divided into the very rich and the very poor. And this later does not have much beyond subsistence. And that very rich is just a handful of people. The rich get this by social affiliation, and by owning the means of production.
So taxation and spending, going back to the New Deal, is what sustains our middle-class.
And if a benefit program gives the poor money, what do they do with it, they spend it.
The idea that everyone should have a personally financed retirement is absurd. Where I live the min income for home ownership runs around $140k per year. Prior to that, very had for someone to save money. Over half of the US population is only two paychecks away from defaulting on rent or mortgage.
And then why put it in the stock market, when they could put it into their own ventures? This would allow another generation to have a chance to use their skills and education. As it is today, this is uncertain.
An entire generation of Americans had a great thing. Even Nixon said, "We are all Keynesians." He never tried to cut taxes or social programs. He even tried to improve social programs with his 1969 Family Assistance Plan, giving federal money for welfare, exceeding what the South East had, and softening the cost bite on the North East.
Americans had it great, then they voted for Ronald Reagan and it has been down hill ever since.
What we needed was in 1980 to start moving towards Medicare for all, to UBI, to public housing, and to free college.
But with Reagan and the extreme wing of his party its instead been down hill.
Psychologists tell us today that the thing millennials worry most about is having enough money to retire. What an absurdity that our own people should have to worry about such a thing, and that they should look at the stock and real estate markets, making money off of other people, as the remedy.
San Jose State has 4300 homeless students, the vast majority employed and living in their cars, because they cannot afford anything else.
And even UCLA has had to set up a homeless shelter for their own students.
And the to add insult to injury, these people have to face the indignity of hearing the likes of Skibum yelling at them from his nursing home window, "Fucking miilenial loosers!"
And then Donald Trump and his Uncle Tom Ben Carson want to put the homeless and the poor into internment camps. And then after that, then who?
Well not on my watch. If they try, then its going to be bullets, bayonets, and bombs.
40 comments
There's no shortcuts.
Invest regularly.
Begin when you are young (early 20’s).
Reinvest dividends.
Enjoy the benefits of compounding.
Use indexed funds for diversification.
Don’t try to time the market.
Don’t watch your investments daily.
Live below your means - well below them.
Avoid buying a bigger home. Most folks don’t need it - and it’s a lot more debt.
Don’t take on debt without serious thought.
When you are old (like me), take your time when selling investments. Your gains will be substantial.
When I began investing - the market crashed - in 86. But I didn’t have enough money to buy up stocks in large quantities. I kept investing consistently through the ups and downs. The internet boom - then the bust. The downturn of 2009 - economic bailouts TARP, and a major recession. It requires discipline and commitment - but it works.
Our high stock market is not a good sign. It is a bad sign, it shows that people do not see better things to do with their money. It is a sign of fatalism that people would put money into something so inflated, and then demand the our government continue to subsidize it with tax cuts.
UNBELIEVABLE!
People need to invest their talents and money together, in their own ventures, as these will employ a next generation of talent.
Gambling on the stock market, that is all it is, gambling.
SJG
You are in the company. But also, accepting the stock is just to show that you are a team player and that you are on board. And you are using your own skills as fully as possible.
Glad things worked for you!
But for others, just looking for how they might bet against the hedge, insurance, and pension fund managers, acting like they somehow know more, and then expecting the government to make it work out by pitching supply side nonsense, UNBELIEVABLE.
The stock market is a Ponzi Scheme! Money going in even reflects back on balance sheets, so it is not just inflated price to earnings, it is also just Ponzi earnings, UNBELIEVABLE.
SJG
But, SJG is fine with being on a strip club site and posting his uninformed opinions, when he’s not been to a strip club in over 25 years.
That’s a lot of work at rate on streets!!!!
Doubt there is much wealth, specially the way they save 🤷🏻♀️
I have absolutely no desire to ever work even close to 60+ hours. That sounds like my definition of hell.
I value my free time a lot. I don't want to have the majority of my waking hours consumed by work obligations. The way I see it. If you don't have the time to enjoy your money you might as well not have it.
I'm in my mid 50's and I've been working since I was about 12. I started cutting lawns, shoveling snow, raking leaves, and digging ditches. I've had a job steadily for close to 40 years. I was laid off from my former employer after 31 years - and was out of work for a month before landing with another bank.
Work ethic is very important - and it is not easy to instill once the teen years have passed.
My brother is paid full time but in practice he only has to work 20-25 hours a week. He gets all his shit done by 2:00-3:00 then dips out and leaves.
I feel like I wouldn't have any energy after working that much. I've worked a few 10 hour shifts at my summer jobs and I always come back feeling absolutely exhausted and run down. Going to classes makes me really exhausted, although I will say that the impact 1 hour of class has on my energy is similar to more like 3 hours of work. I feel way more exhausted at college than I do at my summer job even though I technically work less hours.
But I find that at the beginning of the semester, I do a lot more fun things and am more adventurous. As the semester goes on I become more exhausted and seclude myself. I don't have the energy to be able to choose work hard, play hard. I have to distribute it properly.
Someone mark the calander to bump this thread 10 years from now.
@SJG I finally read your post (the first one on this thread) and I gotta say, your both right and wrong in my personal opinion. Yes, we are using money to invest invest in businesses we have little control over, HOWEVER, that's not to say their stock worth is based on a fugazi. It's based off the effectiveness of the product and the value the CUSTOMERS deem it by purchasing the company's goods. Not everyone can own a business, but if a poor youth can take advantage of the stock market to get out the ghetto, dont hate him for actively striving for the better things in life.
My best friend died when we were 57. Another good friend from college was very penurious, retired at age 58 with about $3mm saved. He stroked out 6 months later. His widow is enjoying it now. Around age 60 I started spending on strippers. I worked 1/2 time for $50k and this allowed me to spend close to $1000 a week on clubs & strippers.
I thought I’d be dead by now. My wife had Alzheimer’s and I quit work & took care of her and cut way back on strippers. My wife died, my savings are all gone and I’ve got my pension which covers expenses and allows $400 - $500 a month for strippers.
I might live another 10 years or drop dead tonight.
Now interestingly I’ve had some contact with widows looking for companionship ( and one who says she’s looking for a little action). I’m giving some thought to whether there might be a source of funding there. The rumor is that you can’t take it with you.
No. I sold access to my father who was VP.
So really no risk. Still getting paid. And his own career is being furthered by the greater opportunity to do different and more complex things in a start up, and he is also helping to make it happen personally.
And you can go from one to another, as you are in the circle of people and investors who do this.
I have done the same myself. But it does not sound like anything I did ever worked out as well as it did for loper.
But the organization I am building will be engaging in the same sorts of Smart Entrepreneurship.
But just to be trying to out smart the professional pension, hedge, and insurance fund managers, and then think you have scored something just because the market rises, pretty stupid. They know far more and do far more computer analysis than you ever could. And their trades are so big that they are what determines the current pricing.
For most people the stock market is just a glorified gambling obsession. And people expect our government to keep pursuing idiotic policies which sustain it. Hence we have Trump.
Here in CA we have a state lottery. Other states have these too.
If there is a big increase in the money going into these lotteries, does that mean that we have a good economy?
No of course not. It just means that people are getting more fatalistic. They believe that unless you strike it rich, then life is not worth living. So they are willing to give up their hard earned money for an infinitesimally small chance of getting rich.
Why is it so hard for people to see that the stock market is the same thing? People put money into it because they cannot see that there could be better things to do with their money.
That is the money people could use to start their own companies. And those companies will in turn be hiring people, younger people.
Companies started by professional venture capitalists actually have a much higher failure rate. They are over capitalized and their plans are stilted to try and get giant returns. But this also greatly increases the failure rate.
Owner financed start ups have a far greater success rate.
People building teams and starting companies expands the middle class and it increases the rate of innovation.
But putting money into the stock market usually just makes the rich richer. And then expecting the government to cover you with tax cuts to keep pushing these markets up will eat our country alive.
SJG
Mountain - Nantucket Sleighride Album
https://www.youtube.com/playlist?list=PL…
Starting a business, WITH A TEAM, however, is very constructive. It is what gives younger people high quality work experience and what is most likely to do real innovation. It expands the middle-class and builds a future.
People who get hired as low badge number for startups, like it sounds like loper did, they have a chance at getting good stock nest eggs, but with essentially zero risk, cause early employee stock on a pre-public is offered at almost nothing.
Say Pro VC's put in $5Meg, knowing fully well that they will have to put in more money like that, and that they might lose it. But employee stock might go for 1% to 5% what the VC's pay.
If the company succeeds, this employee stock will trade for close to the same amount per share as the VC stock. So you get a 20 to 100x return just from that! And then usually the VC's are looking for about another 10x for themselves. So your return is then 200x to 1000x.
But VC funded has much higher risk than owner funded. And that money being used, stupidly in my opinion, by buying into the stock market, is the money which otherwise could be used to start new companies, hire young people into good careers, not just jobs, and expand and sustain the middle-class.
The way things are now, you have this mountain of dump useless money, about the same size as the national debt, and all it does is inflate the stock and real estate markets.
SJG
Do good work, use your skills. It might pay off well, but maybe not so much. Either way, you are living in the present.
But playing stock markets, that is about like being DEAD ALREADY!
SJG
NOT MUCH OF A LIFE!
SJG
Yeah, Senile-Suicidal Skibum yelling out the bared window of his locked nursing home.
The poor have always worked harder. Had to. No different today. A poor person uses more brains each day than a rich person uses in a month.
I hadn't realized how serious it was at the time, but we never should have let Reagan set up the IRA and 401K accounts. These actually get a tax break, and all they are is an attempt to undermine Social Security.
Far better that retirees and the jobless get supported off of current tax revenue, than that people are encouraged to try and hold onto money and use it to inflate the stock and real estate markets.
Keynesianism and its high progressive taxation, max 90% to 70%, worked perfectly for over 40 years. Never failed, except maybe when OPEC formed because the middle-eastern nations wanted something more fair for their oil.
Only the very shallowest of booms and busts under Keynesianism. An entire generation of Americans really had it good. Get a good job, buy a house, support a family, and know that you will be taken care of in old age, if you get sick, or if you become disabled. Who could want more?
Were there problems, yes racial, and women were left out, and there was very little protection for the rights of children. The rich did not have that much control over our democracy, not with the high taxes, and even a smaller split between owners and workers on pre-tax incomes.
So what happened? Well there was a back lash against the War on Poverty, the women's movement, and the civil rights movement.
And then the US had installed this Shah of Iran, and there was a revolution. Americans ended up being held hostage.
And the the Christian Right was furious that the federal government would dare to enforce the 1964 Civil Rights Act on Bob Jones University.
So Americans who had had such a great thing, voted against it and elected an icon of reaction, Ronald Reagan.
Soon Poor People were seen as Bad People, and like Reagan said, "I'm for an American where everyone can get rich." And what does that mean, it means controlling the land, the labor, and the capital. It means you want to get rich by making other people poor.
So soon our cities started to fill with homeless and the national debt started to explode.
And who gets the most benefit from taxation and spending?
Well it is those who collect wages, salaries, service fees, and business profits.
They get these because there are people who have money to spend. And what keeps this mid sector of the socio-economic hierarchy in place is taxation and spending.
If Skibum does not like this, let him relinquish his income.
Most every society has always divided into the very rich and the very poor. And this later does not have much beyond subsistence. And that very rich is just a handful of people. The rich get this by social affiliation, and by owning the means of production.
So taxation and spending, going back to the New Deal, is what sustains our middle-class.
And if a benefit program gives the poor money, what do they do with it, they spend it.
The idea that everyone should have a personally financed retirement is absurd. Where I live the min income for home ownership runs around $140k per year. Prior to that, very had for someone to save money. Over half of the US population is only two paychecks away from defaulting on rent or mortgage.
And then why put it in the stock market, when they could put it into their own ventures? This would allow another generation to have a chance to use their skills and education. As it is today, this is uncertain.
An entire generation of Americans had a great thing. Even Nixon said, "We are all Keynesians." He never tried to cut taxes or social programs. He even tried to improve social programs with his 1969 Family Assistance Plan, giving federal money for welfare, exceeding what the South East had, and softening the cost bite on the North East.
Americans had it great, then they voted for Ronald Reagan and it has been down hill ever since.
What we needed was in 1980 to start moving towards Medicare for all, to UBI, to public housing, and to free college.
But with Reagan and the extreme wing of his party its instead been down hill.
Psychologists tell us today that the thing millennials worry most about is having enough money to retire. What an absurdity that our own people should have to worry about such a thing, and that they should look at the stock and real estate markets, making money off of other people, as the remedy.
San Jose State has 4300 homeless students, the vast majority employed and living in their cars, because they cannot afford anything else.
And even UCLA has had to set up a homeless shelter for their own students.
And the to add insult to injury, these people have to face the indignity of hearing the likes of Skibum yelling at them from his nursing home window, "Fucking miilenial loosers!"
And then Donald Trump and his Uncle Tom Ben Carson want to put the homeless and the poor into internment camps. And then after that, then who?
Well not on my watch. If they try, then its going to be bullets, bayonets, and bombs.
SJG
Forever - Papa Roach
https://www.youtube.com/watch?v=yloxnSbN…
Amy Winehouse - You Know I'm No Good
https://www.youtube.com/watch?v=b-I2s5zR…
GFY SJG....