This is based on the fallacy that people deserve to be rich because they are more skilled and work harder. In most cases this is not true. Most just use money to make more money. They don’t actually produce anything useful for humanity.
You understand that is a skill in and of itself. Which is why so many day traders end up going bankrupt. To be able to actually consistently make money off of money isn’t magical, it doesn’t happen automatically. If it did everyone would be far wealthier.
Which is why so many day traders end up going bankrupt.
Well yeah, so do most of the gamblers, but some miraculously don’t, but we don’t believe that playing rouletts is a skill now. Incidentally, moat of the people who consistently gamble but don’t go bankrupt are people who have more money than it’s possible to lose in one sitting.
Playing stonks follows exactly the same logic.
Actually you make a great point. Which is why there’s professional poker, where gamblers can literally make a living. Understanding the difference between being a professional and being able to consistently make money and where to go to do it, is part of the skill I’m talking about. Thanks!
Not understanding the difference between the game of skill and the game of chance is exactly the grasp on reality that I expected from you based on this thread.
No, your not understanding that games of skill or chance are both gambling. Being able to identify the difference makes you a gambler who can live off his gambling or one who will go broke. Same trick in investing.
That’s definitionally not what the word means. But you probably believe that you can predict the streaks in slot machines so I am pretty sure I’m wasting my time here
To be able to actually consistently make money off of money isn’t magical, it doesn’t happen automatically
Ever heard of interest? Savings accounts?
Say you just have 100 million sitting in a bank account. The average national savings account interest rate (and you’d get a much better one with 100 million) is 0.42 APY.
So you’d get $420,000 in interest every year.
If it did everyone would be far wealthier.
No, the rich would be richer. It’s expensive to make money, but very simple if you have a lot of it. Those without the capacity will keep getting poorer. You can shift the margins by taking more risks, obviously, but you can just make moneys for free when you already have enough for everything you need.
Yeah, my point here being that even with the puniest of interest rates, you’d still make more than enough just off the interest to live somewhat comfortably. And in reality, you’d make millions and you’d have so much you could risk a little of it while still having those safe investments yielding all the time.
Sure they increased their money during the pandemic. People were acting like idiots buying homes and goods when they really really shouldn’t have. It’s also true the rich prey on this. Go try to get 100 million in an interest bank account and see what happens, it’s actually harder to leave that kind of money in interest accounts because of how FINRA regulations work. Your money would literally not be insured. You wouldn’t know these things because you just hear other poor people talk about the rich and not the actual rich.
Thus, the real crux of the problem. The poor don’t even understand well enough what’s happening to make a good argument. Between the wanna be rich poor people who talk about unskilled labor as if you just need to pull yourself up by your bootstraps and the poor who hate the rich, no one actually understands how it all works. And it all WORKS BECAUSE you don’t understand. If the poor didn’t respond the way they did during the pandemic, the rich wouldn’t have been able to hoover up all their money. Who’s taking the 22% loans, who’s buying houses they can’t afford on 30+ year mortgages at 8%. All of those actions make the rich richer. You want to stop the rich? Stop wasting your money. But even if you can, the rest won’t and the money will keep funneling up. Thus the real problem. But no one wants to change their life style. Instead they’ll go out and buy expensive handbags and other luxury items on lay away. You can’t stop the rich as long as everyone participates in capitalism.
A lot of words for saying “you’re right that one can very safely invest that kind of money and thus I was wrong in saying money doesn’t just generate money, when it very literally does”.
“I pointed a gun at a guy and asked to fuck him in the arse and he just seemed to agree without question. That doesn’t make me a rapist, it makes him a slut.”
Honestly I couldn’t come up with more hilarious victim blaming if I tried. 5/5 for trolling as a deeply brainwashed libertarian fucknut.
The problem is there is no safe way to invest that kind of money. If there was a purely safe way to invest everyone would be a millionaire. The savings account thing you mentioned is literally only for poor people, to give them a leg up and a small increasing investment for the purpose of teaching people the value of investment. You’ve created a strawman and keep smacking it.
If there was a purely safe way to invest everyone would be a millionaire.
No, they wouldn’t, because investing requires you to have something to invest.
I don’t understand why youre fighting against very obvious facts. Money makes money.
Quite literally. You’re pretending as if it wouldn’t be safe slopping 100 mil into a Swiss bank account, given you’re not American and that 100 million was rightfully yours.
“You’ve created a strawman”. No need, honestly. Your trying to argue that it’s not incredibly easy to generate passive income for life if had a 100 million to invest.
There’s literally no safe way to invest at that level. Do you understand what the FDIC is and what they do? Do you understand what an accredited investor is and why they can invest in riskier vehicles? Did the words I just write look like word salad to you?
Nothing is completely safe, but it’s ridiculous that you’re pretending like it’d be any issue to make 100 million grow if you magically got a sum like that.
Yeah, the FDIC is a an American institution. Most Swiss banks don’t deal with Americans.
What you’re talking about is actively investing. I’m using “invest” in it’s basest form.
What is it that you think is so unsafe in slopping a 100 million to a Swiss bank account? Like ofc, nothing is completely risk free, but looking at their history and reliability, what do you specifically think would happen to it? The banks crash?
Get on out of here with your inane libertarian “look I’m a big man in teh money game” bullshit. You’re literally trying to argue that it wouldn’t be completely trivial to make that kind of money grow.
This is based on the fallacy that people deserve to be rich because they are more skilled and work harder. In most cases this is not true. Most just use money to make more money. They don’t actually produce anything useful for humanity.
You understand that is a skill in and of itself. Which is why so many day traders end up going bankrupt. To be able to actually consistently make money off of money isn’t magical, it doesn’t happen automatically. If it did everyone would be far wealthier.
Well yeah, so do most of the gamblers, but some miraculously don’t, but we don’t believe that playing rouletts is a skill now. Incidentally, moat of the people who consistently gamble but don’t go bankrupt are people who have more money than it’s possible to lose in one sitting.
Playing stonks follows exactly the same logic.
Actually you make a great point. Which is why there’s professional poker, where gamblers can literally make a living. Understanding the difference between being a professional and being able to consistently make money and where to go to do it, is part of the skill I’m talking about. Thanks!
Not understanding the difference between the game of skill and the game of chance is exactly the grasp on reality that I expected from you based on this thread.
No, your not understanding that games of skill or chance are both gambling. Being able to identify the difference makes you a gambler who can live off his gambling or one who will go broke. Same trick in investing.
That’s definitionally not what the word means. But you probably believe that you can predict the streaks in slot machines so I am pretty sure I’m wasting my time here
Ever heard of interest? Savings accounts?
Say you just have 100 million sitting in a bank account. The average national savings account interest rate (and you’d get a much better one with 100 million) is 0.42 APY.
So you’d get $420,000 in interest every year.
No, the rich would be richer. It’s expensive to make money, but very simple if you have a lot of it. Those without the capacity will keep getting poorer. You can shift the margins by taking more risks, obviously, but you can just make moneys for free when you already have enough for everything you need.
And hmm how is the trend going?
https://www.oxfam.org/en/press-releases/ten-richest-men-double-their-fortunes-pandemic-while-incomes-99-percent-humanity
Oh, right.
Treasury Notes are 10x that rate. This mostly just illustrates how scammy and cheap your average bank has grown.
Yeah, my point here being that even with the puniest of interest rates, you’d still make more than enough just off the interest to live somewhat comfortably. And in reality, you’d make millions and you’d have so much you could risk a little of it while still having those safe investments yielding all the time.
Sure they increased their money during the pandemic. People were acting like idiots buying homes and goods when they really really shouldn’t have. It’s also true the rich prey on this. Go try to get 100 million in an interest bank account and see what happens, it’s actually harder to leave that kind of money in interest accounts because of how FINRA regulations work. Your money would literally not be insured. You wouldn’t know these things because you just hear other poor people talk about the rich and not the actual rich.
Thus, the real crux of the problem. The poor don’t even understand well enough what’s happening to make a good argument. Between the wanna be rich poor people who talk about unskilled labor as if you just need to pull yourself up by your bootstraps and the poor who hate the rich, no one actually understands how it all works. And it all WORKS BECAUSE you don’t understand. If the poor didn’t respond the way they did during the pandemic, the rich wouldn’t have been able to hoover up all their money. Who’s taking the 22% loans, who’s buying houses they can’t afford on 30+ year mortgages at 8%. All of those actions make the rich richer. You want to stop the rich? Stop wasting your money. But even if you can, the rest won’t and the money will keep funneling up. Thus the real problem. But no one wants to change their life style. Instead they’ll go out and buy expensive handbags and other luxury items on lay away. You can’t stop the rich as long as everyone participates in capitalism.
A lot of words for saying “you’re right that one can very safely invest that kind of money and thus I was wrong in saying money doesn’t just generate money, when it very literally does”.
“I pointed a gun at a guy and asked to fuck him in the arse and he just seemed to agree without question. That doesn’t make me a rapist, it makes him a slut.”
Honestly I couldn’t come up with more hilarious victim blaming if I tried. 5/5 for trolling as a deeply brainwashed libertarian fucknut.
The problem is there is no safe way to invest that kind of money. If there was a purely safe way to invest everyone would be a millionaire. The savings account thing you mentioned is literally only for poor people, to give them a leg up and a small increasing investment for the purpose of teaching people the value of investment. You’ve created a strawman and keep smacking it.
No, they wouldn’t, because investing requires you to have something to invest.
I don’t understand why youre fighting against very obvious facts. Money makes money.
Quite literally. You’re pretending as if it wouldn’t be safe slopping 100 mil into a Swiss bank account, given you’re not American and that 100 million was rightfully yours.
“You’ve created a strawman”. No need, honestly. Your trying to argue that it’s not incredibly easy to generate passive income for life if had a 100 million to invest.
That’s just patently untrue.
There’s literally no safe way to invest at that level. Do you understand what the FDIC is and what they do? Do you understand what an accredited investor is and why they can invest in riskier vehicles? Did the words I just write look like word salad to you?
Nothing is completely safe, but it’s ridiculous that you’re pretending like it’d be any issue to make 100 million grow if you magically got a sum like that.
Yeah, the FDIC is a an American institution. Most Swiss banks don’t deal with Americans.
What you’re talking about is actively investing. I’m using “invest” in it’s basest form.
What is it that you think is so unsafe in slopping a 100 million to a Swiss bank account? Like ofc, nothing is completely risk free, but looking at their history and reliability, what do you specifically think would happen to it? The banks crash?
Get on out of here with your inane libertarian “look I’m a big man in teh money game” bullshit. You’re literally trying to argue that it wouldn’t be completely trivial to make that kind of money grow.
deleted by creator
I genuinely do not understand what your talking about. Elaborate?
My bad I was on mobile that was meant for another and I just clicked the wrong reply from notifications. Whops
Bankruptcy is a tool for discharging debt, not a metric for business failure.
You don’t bother declaring bankruptcy unless you have creditors. If you’re an unsuccessful day trader, nobody is lending you much money to begin with.