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About Joel3102

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  • Birthday 07/17/1995

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    Perth, Australia
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  1. Stocks tend to protect against inflation as well as they move in line with inflation. There hasn’t been a 10 year period in stock market history where you would have lost money in a fully diversified market portfolio.
  2. Nah I don’t really see it as thieving, depending on what you’re specifically trading. One person wants to sell stock in a given moment and one person wants to buy. Although I wouldn’t recommend day trading however. There’s better things to do. Also most traders probably make less return than just investing in the S&P500. I personally only passively invest in ETFs. It’s the safest option and generally outperforms most people who try to “pick” stocks
  3. The speculation of Wall St and that whole world definitely can create problems and cause damage, so it needs to be properly regulated (GFC, for example). The main value that day traders and these large algorithm softwares in the market play is that they provide liquidity in the market so it’s efficient and reflects asset values correctly. Ironically, without any dedicated algorithms to detect arbitrage in the market (which is essentially free money), there would be such inefficiencies and opportunity for arbitrage which could mean massive amounts of money made just because one person was in the right place at the right time, and insider trading would be much easier.
  4. I couldn't agree more. Whilst fully onboard with the ideals of stage green, as somebody who's studied economics and knows finance, some of the stuff I'm reading with regards to policy prescriptions is super cringe.... This is part of the reason why progressives are deemed economically illiterate, because without grounding your higher ideals in real economic analysis, you're opening up yourself to picked apart by simplistic ideas that might not actually work. A smart and intelligent leftward shift is what is needed. For example rent control or protectionist policies. They sound good on the surface, but no serious economists support them (even left ones) because they simply don't work and do more harm than good.
  5. I was extremely shy in high school, so when I got to uni I decided to join a lot of the party clubs/committees etc and get involved in campus culture (no frats in Australia but similar shit). A bit like Aurum, it was one of the best decision I ever made. Having been so introverted in high school I was able to loosen up and expand my confidence and social skills massively. Yes, there’s was a lot of bullshit like drinking and all that, but I got it out of my system during the years of 18-21 and now I don’t really feel like I missed out. I felt like I surpassed many of my high school friends in confidence despite my being more shy than they were in school. Having said that of course the activities were a distraction from other things so it’s good not to get too caught up in that for too long. Weigh up the costs and benefits I think, perhaps there’s something else you could join to allow you to become more social without all the low consciousness activities.
  6. In Australia no teachers live would be living in poverty. They earn like up to $100k, because there are more measures in place. The US is uniquely fucked and everyone else in the Western world knows this. Rates of the 'working poor' are higher and social mobility is lower. And also it's insane that everybody doesn't have health coverage. Of course even social democracies have many other issues that need addressing like homelessness etc. However there's so many reforms to worry about before worrying about a $10m wealth cap. I think even most serious leftists would believe that's too radical.
  7. @Leo Gura I have no problem with that in principle. Of course more of the money should be reallocated from the owners to the working class. Just do that through higher taxes and a better minimum wage. The biggest innovators in the world would hit $10m net worth pretty easily so what happens then.
  8. Yeah but regardless the majority of people need to be doing menial work in order for society to function. It's a bit of a fantasy that everyone can be engaged in something super lofty and creative, as society requires the foundation of menial work for people to even have the luxury of doing other stuff. Why would other people being less wealthy necessarily translate to other people being more innovative? Wealth isn't a fixed pie. There would also be shitloads of homes around the world alone that are worth >$10m, so would they all need to be demolished?
  9. Thomas Picketty in his Magnus opus on income inequality, advocates for a global wealth tax of 2% and marginal tax rates up to 80% for the super wealthy. The basic idea is that return on capital r > g (economic growth), therefore inequality will continue to rise indefinitely into the hands of the major capital owners.
  10. Why not just set a really high marginal tax for income over a certain amount? A proposal like that could really fuck up the economy if implemented. Some actual study of economics is important if we want to advocate for smart solutions
  11. You choose to not identity as left wing but however if most of your positions are left wing’re left wing lol
  12. Just discovered a pretty small channel above. Very reasonable takes I think, about how all these guys need to be more pragmatic
  13. @Leo Gura do you consider the Andy Cutler protocol safe? I’m a bit paranoid as I see in its Facebook group a lot of people go through rough times during the “dump” phase or whatever it is. Although, I’m pretty sure a lot of these people have serious issues from mercury poisoning. If you’re a normal person just looking to “change the oil” hopefully it isn’t risky
  14. Kyle has particularly gotten a bit stale and formulaic. I know what his take exactly will be usually from the title
  15. @Leo Gura Yeah there seems to be a strain of spiritual people that have strange takes on politics. For example, see below self help/spiritual teacher endorsing conspiracies about election fraud