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Cake day: June 21st, 2023

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  • You will never make more interest on an investment than you will get charged interest for the same amount as a loan. Ever. It does not happen.

    This is barely more accurate than a coin flip. Until 2021, it wasn’t that difficult to find loans with rates under 5%. Anything under 4% is basically free money and you’re normally better off investing in something low risk than to pay extra.

    So for me to sit on money that could go towards paying down debts, I’m just needlessly paying more in interest than I would be otherwise.

    If you don’t have any emergency funds, or not enough to cover a single large emergency, this is dumb. Cars break, roofs leak, etc. Even if you have an emergency where you can pay on credit, you’ll likely be looking at credit card interest rates. Or, you lose your job. Fun fact, most job loses occur when the economy is struggling. Another fun fact, most investments are doing really fucking poorly when the economy is struggling.

    Keep some money on hand in case something happens.




  • droans@lemmy.worldtoMemes@lemmy.mlMust win
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    5 months ago

    They haven’t had an expansion franchise since 2002 and it’s unlikely it’ll happen any time in the near future. 32 teams is perfectly balanced - each conference has 16 teams and four divisions. Each division has four teams.

    It would also be very expensive.

    You’d need a stadium that met the NFL standards. The average stadium costs about $2B. Fortunately for her (and unfortunately for the rest of us), taxpayers on average pay about $1.2B of that. We’ll be very generous and assume they paid even more or she received a substantial loan that will be paid off otherwise, leaving her with about $250M out of pocket.

    It should be noted that the opposite is more often true for expansion teams, though. Cities don’t want to pay for the stadium because there’s more risk with new teams. They could decide to leave very quickly, the owners might not have the capital to keep the team afloat, etc. The Texans were the last expansion team and nearly all of the cost for their stadium was privately funded.

    Now, the NFL also charges a fee for expansion teams. This mostly has to be a guesstimate because we haven’t seen one in two decades. The Texans paid $700M at the time so we can assume it would be closer to $1.5B now.

    After that, you have the practice facilities and offices. Cities don’t usually cover that. You might be able to get away with using local facilities for a couple of years, but that won’t be enough to actually create a competitive team. A safe low-end estimate for this would be $150M. The Cowboys paid $1.5B for their facilities, but other teams have paid as low as $125M.

    Finally, the last big cost is payroll. This by itself would sink any chance she has.

    The NFL requires all guaranteed contracted salaries to be placed in escrow. I’m not sure where that rule came from, but I can probably guess Al Davis is to blame. A single year’s salary would be $225M for 2023 and around $240M for next season.

    However, most of the big name players have guarantees that would destroy that. The most common is a signing bonus. Teams love them because the salary cap rules would allow them to amortize it over the length of the contract, including “void years”. Your QB would receive about $200M immediately upon signing. The expansion draft picks and early draft picks would be another $300-500M likely. In the end, the salary escrow plus bonuses would be about $500M-1B.

    So assuming everything goes her way, she’d be on the hook for close to $2.5B immediately plus the reoccurring costs.

    It should also be noted that the NFL isn’t really a great way to make money as an owner. It’s really just a long term retirement hobby for billionaires. They could just go invest in companies or whatever, but they buy NFL teams because they like football and it occupies their time. Yeah, they’ll make money, but not as much as they otherwise could. There’s a reason most owners hate the idea of a super-billionaire like Bezos owning a team.


  • Most of humanity (like 95%) are better off when the economy is doing poorly, as goods tend to get cheaper.

    They’re cheaper because people are buying less.

    People are buying less because they don’t have the money to buy more.

    They don’t have the money because they’re out of a job.

    They’re out of a job because the economy is in the toilet.

    The super rich also love recessions. They still have money. If they want to acquire a company, they can do it for cheaper. The GCF of 2007-2009 is considered to be one of the largest wealth transfers and wealth consolidations in history.






  • droans@lemmy.worldtoMemes@lemmy.mlMust win
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    5 months ago

    He had one target for one yard in the first half. Travis Kelce is the best TE currently in the NFL and considered to be the third best ever to play the game.

    Since all the receivers for the Chiefs are mid at best this year, he’s got some reason to be pissed. One of them, Kadarius Toney, was put on the gameday injury report for the AFCCG as being out for a leg injury and “personal reasons”. He then went public saying his leg was perfectly fine and he had no personal reasons to skip the game… Basically clarifying that the actual reason he wasn’t playing was because he’s ass.

    But Travis Kelce was also being guarded by Fred Warner during the first half who is one of the best linebackers in NFL history.

    It could be a diva moment, sure. But it’s the Super Bowl. Good teams know that you trust your studs. Romo would throw to Dez in double or triple team coverage, knowing he’d come down with it. Peyton Manning would chuck it at Marvin Harrison no matter who was on him. When someone is that good, all you’ve got to do is get the ball in their vicinity. Either they’ll come down with it or they’ll keep the defenders from getting it.

    It’s still stupid to yell at your coach like that and physically push him, but Andy Reid was making a lot of boneheaded decisions in the first. They went into halftime down 10-3. They did change things up during the second half, though. Kelce ended up with 9 receptions for 93 yards while the Chiefs won 25-22 in OT.


  • droans@lemmy.worldto196@lemmy.blahaj.zonerule
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    5 months ago

    I think Utah’s governor, a Republican, actually put it best.

    https://governor.utah.gov/2022/03/24/gov-cox-why-im-vetoing-hb11/

    The transgender sports participation issue is one of the most divisive of our time. Because there are logical and passionate arguments by many parties, finding compromise or common ground can be difficult. Sadly, there is very little room for nuance in this debate. But I hope you will permit me an opportunity to explain my reasons for vetoing HB11…

    I must admit, I am not an expert on transgenderism. I struggle to understand so much of it and the science is conflicting. When in doubt however, I always try to err on the side of kindness, mercy and compassion. I also try to get proximate and I am learning so much from our transgender community. They are great kids who face enormous struggles. Here are the numbers that have most impacted my decision: 75,000, 4, 1, 86 and 56.

    • 75,000 high school kids participating in high school sports in Utah.
    • 4 transgender kids playing high school sports in Utah.
    • 1 transgender student playing girls sports.
    • 86% of trans youth reporting suicidality.
    • 56% of trans youth having attempted suicide.

    Four kids and only one of them playing girls sports. That’s what all of this is about. Four kids who aren’t dominating or winning trophies or taking scholarships. Four kids who are just trying to find some friends and feel like they are a part of something. Four kids trying to get through each day. Rarely has so much fear and anger been directed at so few. I don’t understand what they are going through or why they feel the way they do. But I want them to live. And all the research shows that even a little acceptance and connection can reduce suicidality significantly.


  • droans@lemmy.worldtoMemes@lemmy.mlGold for house
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    5 months ago

    Yes and no.

    Gold has been used as a currency historically for many reasons. It’s inert. It has a low melting point. It’s malleable and easily divisible. It doesn’t tarnish. A piece of gold from 2,000 years ago will be the same weight today as it was then. It also is attractive, which gives it value for jewelry. And, importantly, it’s predictably rare and can be mined.

    Today, it’s also valuable for electronics. Its inability to tarnish makes it fantastic if you need a connection to be corrosion resistant.

    There’s a reason gold still holds its value even though it’s not used for currency anymore.