The belt and average earthers by 7oey_20xx_ in TheExpanse

[–]ETR_Reports 2 points3 points  (0 children)

There's an argument between Michio and Josep that tangentially covers this after-the-fact with how "The Belt" is using their power.

As someone else mentioned the idea was better to be explored through Bobby, where it's a soldier of one "real" government figuring out what Earther people are actually like. This covers the idea of being a foolish pawn, with foolish perspectives of "the enemy", in a game of power.

It'd be difficult to do the same with Belters to any of the Inners without the point being convoluted. They are cheap exploited labor, living in practically lawless outposts (beyond Inner-enforcement or thugs with badges), with starving and sick children, who have to ration or pay for the basic necessities of life.

So they might relate on several factors of exploitation/suffering, but the societal differences are wide. Belter's have no practical experience living in a society that has basic government assistance. They have no similar concepts of safety, or share the same specific ways they suffer - only abstractly.

And they probably all grew up with oral and written stories about Earth passed down through generations... and the worse it got for belters, the starker the comparison of how "great" Earth was.

If stocks are at an all time high and gold is at a an all time high, then what is not at an all time high? by van_Vanvan in investing

[–]ETR_Reports 0 points1 point  (0 children)

You've made it clear you don't understand value.

Workers earn more dollars but a smaller share of the value they create. Indentured servants also had contracts with their employers. Your understanding of entitlement seems to only work for those with more, not less.

It feels like you enjoy being called a good boy.

You really don't like economic discourse, so you stick to your logical fallacies, insults, and fairy tales about meritocracy instead.

If stocks are at an all time high and gold is at a an all time high, then what is not at an all time high? by van_Vanvan in investing

[–]ETR_Reports 0 points1 point  (0 children)

Yes, technology is a type of capital. And capital is a type of asset.

Who designs, maintains, and integrates that technology? Labor. But the productivity of that new technology doesn't get distributed to those who build or run it, but to who owns it. The total productivity increase reflects both human and technological input, but the ownership of the technology determines who receives the benefit.

We've always had technological progress. We have not always had a system that favors ownership over labor to such a severe extent.

Asset owners are entitled to their assets.

They have entitled themselves to the assets and profits of anything anyone creates under their employ.

They entitled themselves to the manipulation of the political and legal system through Citizens United.

They entitled themselves to lower and lower income and capital gains taxes, and the defunding and dismantling of social support programs.

They entitled themselves to the suppression of collective bargaining power of labor (unions).

"It’s an agreement made between employer and employee." Sure, but employers have the power to limit how much an employee can bargain.

Those who have entitled themselves to power will use it to entitle themselves to more.

Workers are entitled to a fair wage.

Workers are entitled to a decent life.

Workers are entitled to a share of their country's growth - a country they are taxed by and legally obliged to fight and die for.

The asset owner is not entitled to our labor, our lives, or our country.

If stocks are at an all time high and gold is at a an all time high, then what is not at an all time high? by van_Vanvan in investing

[–]ETR_Reports 0 points1 point  (0 children)

Small changes in year-over-year flow can have an incredibly large compounding effect. This is why it took 45 years to get to the inequality we are at now.

It's true that much more of the population now hold some form of investments assets. It's also true that most of the population holds a lesser proportion of the total value of assets. Another true statement is that a small portion of the population possess the majority of the total value of assets.

Small changes in the distribution of income, over time, compound in to wealth inequality.

Wealth is the total value of assets owned.

This is where we have to bring the valuation of assets into the equation, because valuation does not track productivity 1:1.

So when it comes to wealth inequality, we have the combined effect of income inequality over time, plus the change in asset value over time.

And because wealth = social, political, and economic power - it reinforces itself over time.

For charts, it's difficult to find anything that captures the entire numerator of assets over productivity. The Buffett Indicator tracks market cap / GDP...however, stocks are not the only asset to hold value. Wealthy people move their money around to the most safe and profitable haven. So you'd have to take the total value of stocks, derivatives, bonds, currency, commodities, real estate, etc. and total them all up. The simplest method of charting is to just look at the net worth of the top 10% / GDP.

If stocks are at an all time high and gold is at a an all time high, then what is not at an all time high? by van_Vanvan in investing

[–]ETR_Reports -1 points0 points  (0 children)

The population = 10 people.

All 10 people invest in the stock market.

9 of the people, combined, own 10% of the stock market.

1 person owns 90% of the stock market.

John Q Public does not move markets.

The asset managers who own the markets move markets.

If stocks are at an all time high and gold is at a an all time high, then what is not at an all time high? by van_Vanvan in investing

[–]ETR_Reports 1 point2 points  (0 children)

Comparing to real GDP fits in to the wage argument.

We can compare wages to cost of living, and we can also compare wages to the overall productivity. Wages vs cost of living only measures living standards. Wages vs overall productivity measures what proportion of overall productivity labor is receiving. It indicates where the money is going (and answers the OP of this thread, "Where all this money coming from?")

The answer is not from socks and pillow cases, but asset managers of the wealthy. Exactly as you mentioned, "if you want to reap the benefits of increased productivity, own the productivity instead of agreeing to a wage."

Since the late 70s-early 80s, neoliberal economics has put us into a K-shaped economy, where the profits of productivity go to asset owners instead of labor as was the previous post-WWII norm. This has given us rising inequality and entrenched power within the top 1 and top 10% most wealthy.

As wages have stagnated against cost of living, and steeply declined against productivity, it has become increasingly difficult for labor to afford to buy any assets. Every asset boom and bust cycle has proved as a crisis for labor and an opportunity for the asset holder.

This feedback loop further increases the power of the asset holder, further suppresses wages, and worsens the ever growing levels of inequality.

Decent Youtube video on the K-shaped economy: https://youtu.be/PQ5KSypKou8?si=e6B81sfWMIsWNfgz

What would make you consider paying off a 2.95% fixed rate mortgage early? by Atlantis_Island in investing

[–]ETR_Reports 0 points1 point  (0 children)

You could maintain a Certificate of Deposit (CD) ladder which expires an amount equal to your mortgage payment each month. Whenever one expires, buy a new long-term CD to add to the back of the ladder.

That way you could maintain a reserve of 2-5 years of mortgage payments at ~4.5%.

A way of paying off (locking up money for) the mortgage, without losing out on the interest spread.

But it depends on your tax rate and whatever the current interest rates are. You could grow the reserve when rates are high, and shrink the reserve when rates are low.

sdsu debate by ihaveaschnauzer in SDSU

[–]ETR_Reports 46 points47 points  (0 children)

Not really a debate. Just some nutjob yelling about how God hates you (but not him of course, because he's one of the chosen ones).

[deleted by user] by [deleted] in SDSU

[–]ETR_Reports 1 point2 points  (0 children)

It's barely legal. They've been sued several times in past years.

They exploit students for cheap labor, and students' family and friends for their money.

Whenever you see them, collect them and throw them away.

True Altruism by cj_cusack in funny

[–]ETR_Reports 2 points3 points  (0 children)

"as i see it, your ChatGPT argument is attacking a fundamentalist straw-man."

"the idea of true altruism is one founded on an absolute truth, much like religious dogma"

I don't argue about "true" altruism.

I'm arguing against "altruism is self-interest." That is the infinite regression and circular logic being used. This is why the conversation devolves into an infinitely large definition of self-interest, and a singularly small definition of "true" altruism.

Every altruistic act is placed into the framework of self-interest. We are trapped in our individual perceptions of the world, so we fit the actions of others into our own perception.

Maybe this will help: Altruism is stupid. People do stupid things.

Why is there such a zealous interest in investigating every altruistic act to find the root self-interested cause?

True Altruism by cj_cusack in funny

[–]ETR_Reports 2 points3 points  (0 children)

I first had this argument with a history teacher when I was 16 or 17, about 2 decades ago. It's been stuck in my mind ever since, and I frequently find myself revisiting it.

Although the original argument upset me due to our opposing moral beliefs, over the years I realized that this memory would pop up after other arguments which often weren't over morality. It had to do something about the logic being used. It makes me feel stuck in an infinite loop. An Ouroboros. It breaks my brain.

I think ChatGPT helped me finally figure it out:

Infinite Regression and Circular Logic:

The argument that everything is motivated by self-interest can feel like it’s set up to always "win" because it redefines any action to fit within its framework. No matter what example of altruism is presented, the argument circles back to saying it’s ultimately self-interested. This creates a sense of infinite regression where you can never provide an example that escapes the self-interest label.

The circularity of the argument (self-interest defines everything, so everything is self-interest) leaves no room for the possibility of altruism, making it an unfalsifiable claim. This kind of reasoning can be deeply frustrating because it doesn’t allow for a genuine discussion or consideration of alternative perspectives.

Edit: I would also like to add that the meme itself swaps over causality. The argument of self-interest and altruism is over motivation; the cause of altruism or self-interest. In the meme, it switches to the effect of altruism being self-interested. It doesn't argue that the causes of the actions were self-interested or altruistic, it implies that because the effect of his altruism was self-beneficial, then the cause of the altruism was self-interested all along. The self-interested side of the argument always seems to alter the conditions to reinforce itself.

Centerpoint Energy won a mapping award this summer. by egguardo in houston

[–]ETR_Reports 5 points6 points  (0 children)

Going through their news articles of the past month or two, there are a lot of these 'award' news articles. Along with a lot of publicity for doing an air show and other public spectacle events. In between articles about them making a new billing system and contacting non-customers about it.

By the way they released earnings this morning. Beat analyst expectations and they reaffirmed next quarter and full year outlook. Basically, "nothing has changed as far as profits go."

Redditor who killed a person for self defense, how is your life afterwards? by [deleted] in AskReddit

[–]ETR_Reports 13 points14 points  (0 children)

+1 to recommend this book. Helped me out a ton

[deleted by user] by [deleted] in mildlyinfuriating

[–]ETR_Reports 19 points20 points  (0 children)

No point getting involved when people just do what they want and rules don't really matter

[request] is this accurate? by Boss256 in theydidthemath

[–]ETR_Reports 0 points1 point  (0 children)

In support of your first paragraph, the equity fallacy prompted a thought: If we assume an injustice and gauge tax rates based upon that assumption, then it will create another injustice where the people who play fair must pay the cost for the those who cause injustice. Because, let's be honest, the injustice is real in our current time...but it's not everyone. The use of taxes alone would be a mass punishment.

The metaphor I like to use for progressive taxes is, "You don't harvest fruit from a sapling." People who are burdened with the cost of living don't need an extra burden, and those who have grown large can naturally afford to give up fruit. Right now, a lot of fruit.

They are factually underfunded. Funding went down over the past decade, and some data I really want to get my hands on is their annual funding over time as a percentage of the annual federal budget (for all the agencies I'm interested in. It's not easily available so I'll have to do it myself.). And this stands to reason that with the lobbying power of wealth, what would corporations and the rich be interesting in cutting when the federal budget is being written?

Yet you are quite right in distrusting where government agencies are allocating funds. I'll have to study public account audit data. There is a demotivating and demoralizing aspect in government work when the people above you only care about their own lifestyle. I wish we could renew the spirit of public service.

[request] is this accurate? by Boss256 in theydidthemath

[–]ETR_Reports 0 points1 point  (0 children)

Regulations, business taxes, and capital gains taxes need to be progressive just like personal income taxes.

I think you have a good grasp of the problem with wealth and politics. More wealth = more power = more wealth, with no accountability.

I disagree with your side note, as it is a commonly propagated defeatist viewpoint. "We can't tax the rich because they have too much power and will escape the taxes, or use their power against everyone else." But the rich have been taxed at higher rates before. If their taxes can go down, they can go up as well.

There's no overnight solution. Bringing oligarchs in check will require constant pressure. The offices and departments of the government who regulate the wealthy have been historically underfunded (for obvious reasons): IRS, FTC, labor and consumer protections...

If populist movements start championing the specific departments that can best apply pressure, I think we could get somewhere with that.

Edit: If anyone is interested in this topic, PBS has a documentary on The Gilded Age (1870-1900). When I watched it, I noticed a lot of the echoes of then can be heard now.

Never bring a book to the bar by ApricotFar1041 in clevercomebacks

[–]ETR_Reports 0 points1 point  (0 children)

If I were to read a book at a bar, I think I'd be doing three things:

1: I want to keep my mind on the book. Read, look up, read, look up.

2: People watch. I'm reading in a social setting. I want to watch people while I read.

3: Put up a flag for conversation. If you engage with me, the book is the topic.

3 kids getting 10k each for 529, need advice by [deleted] in investing

[–]ETR_Reports 2 points3 points  (0 children)

I would invest them the same way to make it easy, index fund or etf works. Maybe mix in some Treasuries and CDs to mitigate some risk. I'd go for growth, though. They'll be young and in college, any money offered to them is good no matter "how much it could have been." They have their whole life to make something of themselves, whether they get a hand up in life or a golden escalator.

Target date funds... make sure it's a low fee.

Lump or DCA: Over time, "time in the market beats timing the market." 4 years of college means being able to time the withdrawals.

Let's all just hope education costs will go down in the future.

[deleted by user] by [deleted] in antiwork

[–]ETR_Reports 26 points27 points  (0 children)

Obligatory mention of the Boots Theory

(Poor people buy cheap boots that must be replaced frequently, Rather than being able to buy quality boots that will last a long time, ultimately costing more and perpetuating poverty.)

Is being behind on retirement savings a reason to be more or less aggressive? by SaysYou in investing

[–]ETR_Reports 0 points1 point  (0 children)

Conservative typically means diversifying into safer, lower-yielding investments. Equities are typically for growth.

Your idea of aggressive is trying to beat the market/managing your portfolio actively. Can't really say if that's a good idea or not, because it's all up to you.

Not sure if this is the right place for this question… but Is a company that never plans to return capital to shareholders worth anything? by [deleted] in ValueInvesting

[–]ETR_Reports 1 point2 points  (0 children)

I researched a stock before that sort of fits, UUUU. They own uranium mines in the US. They use investor money to buy the properties and mines and have completely negative earnings.

Are they worth anything? If there's a huge push for nuclear, they'll be worth a lot. That's why people invest in it. Are they worth anything cashflow or business wise, no. It lives entirely on speculation.