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Joined 1 year ago
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Cake day: July 4th, 2023

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  • The idea is that deflation affects the investor class. Assuming a “healthy” 3% inflation rate, the value of your savings decreases by 3% per year. That means you lose money if you can’t invest in something earning more than 3%. Traditionally interest rates have been around 0%, which means bonds and savings accounts also pay 0%. So, your only options to not lose the value of your savings is to invest in the stock market, risky businesses, or real estate.

    As a middle class person that means that it mostly affects my 401k, but for millionaires and billionaires, deflation means that they would sit on their hoard instead of investing it. Traditionally that means no funding for new businesses, inventions and ideas, and that’s also why the investor class pays much lower taxes than the working classes.

    But nowadays “investment” seems to mostly be buying good companies and enshitifying them or bribing politicians, so maybe it would be better if we encouraged the rich to sit on their money instead of using it to make society worse.






  • With pensions gone and Social Security unlikely to exist when Millennials and younger retire, we have no choice but to hand our retirement savings to Wall Street. Otherwise it’s impossible to even beat inflation long term, let alone to have enough compound interest to actually live off of.

    You can set up your 401k to only invest in good companies, but again, it’s unlikely to be enough to actually retire off of. I wasted my best savings years trying to do this and failed. I don’t like it, but index funds that include small pieces of evil companies are pretty much the only valid option.







  • My autistic friend loves her Loops. After getting the Loops she realised that she doesn’t actually hate large social gatherings, it’s just that hearing hundreds of simultaneous conversations is exhausting. After getting Loops, she is totally fine in sports bars, county fairs, Octoberfest, etc.





  • Biden had a really good plan. Zero interest as long as you pay at least something, and the payment being as low as $1 with a sliding scale based on income.

    It’s more fair than just forgiveness to people without loans since the debt isn’t eliminated. I’m personally fine with eliminating the debt to have a more educated society, but a lot of people aren’t, and that’s a good middle ground.



  • It’s like if you bought something with a credit card and are now deciding to just not pay the bill. There was a separate budget process, and that’s when they should have said that they didn’t want to pay for the things they bought.

    But really the whole thing is an excuse to hold the country hostage every few months whenever republicans control the house and not the presidency. It’s win-win for them because either they get what they want from the hostage negotiation, or they hurt the hostage (us) and blame it on the president.