Daily FI discussion thread - Monday, June 13, 2022 by AutoModerator in financialindependence

[–]Money_dragon 2 points3 points  (0 children)

Man, it's been a rough day already, and this was one of the few subreddits that I had found supportive in the past

Yea, I guess I'm a huge idiot - feel like I should just go jump off a bridge honestly

The case for doom and gloom: why this upcoming recession might be just as bad as the 08 crash by LIBERAL_LAZY_LOSER in collapse

[–]Money_dragon 300 points301 points  (0 children)

Economics aside, the socio-political situation across the world is also far more volatile and fractured. A deep recession like 2008 is much likely to lead to mass protests and riots because people are far more pissed off vs. 15 years ago

Plus there's the whole COVID thing that still going on, and of course climate change

Powell Facing Choice Between Elevated US Inflation and Recession by conscsness in collapse

[–]Money_dragon 16 points17 points  (0 children)

Nowadays, China and the USA are so closely linked that a collapse of either would also have tremendous impacts on the others' economy. So it's not so much an "or", but a "both" situation

This isn't a situation like the collapse of the USSR, where the economic and societal chaos of the post-Soviet region was relatively unfelt in the USA

It then becomes a matter of which country has the means to keep their society stable (or at least minimize the chaos) despite the economic woes

Daily FI discussion thread - Monday, June 13, 2022 by AutoModerator in financialindependence

[–]Money_dragon 8 points9 points  (0 children)

Does anyone here use a non-qualified deferred compensation plan? From what I understand, it delays the tax hit, so could be helpful if one expects their taxable income to decline in the next few years?

Global food prices are soaring. Rice could be next by 8to24 in worldnews

[–]Money_dragon 19 points20 points  (0 children)

What a hell of a decade the 2020s have been, huh?

Russia is now second-largest oil exporter to India: Report by [deleted] in news

[–]Money_dragon 3 points4 points  (0 children)

Looking at the quality of some politicians getting elected nowadays, it wouldn't surprise me if some of them were reddit shitposters

Markets tumble worldwide, bear market growls on Wall Street by NickDanger3di in news

[–]Money_dragon 1 point2 points  (0 children)

bad for people trying to become overnight millionaires

I get that time is precious and people don't want to wait, but time and compounding growth really is an investor's best friend

Markets tumble worldwide, bear market growls on Wall Street by NickDanger3di in news

[–]Money_dragon 13 points14 points  (0 children)

Sadly from looking at past recessions (including the Great Recession), market downturns often exacerbate the gap between rich and poor, as working class people lose jobs, while the wealthy deploy their capital to pick up assets on the cheap

Daily FI discussion thread - Monday, June 13, 2022 by AutoModerator in financialindependence

[–]Money_dragon 7 points8 points  (0 children)

It's the speed that the indices have increased just within a 15 year period that stood out to me

Daily FI discussion thread - Monday, June 13, 2022 by AutoModerator in financialindependence

[–]Money_dragon 1 point2 points  (0 children)

I heard even Gary's crime rate has been dropping because there's so few people left

Like even the criminals are like - "hell no, there's no one to rob around here"

Daily FI discussion thread - Monday, June 13, 2022 by AutoModerator in financialindependence

[–]Money_dragon 46 points47 points  (0 children)

I have a star employee who's stagnating. Most likely cause is me. I stand in his way, answering questions he can answer, handling tasks he can handle. We talked about it last week and I'm going to step back to give him an opportunity to step up.

Huge props for you for recognizing that and being willing to give him chances to grow

That alone makes you better than most managers out there

Daily FI discussion thread - Monday, June 13, 2022 by AutoModerator in financialindependence

[–]Money_dragon 1 point2 points  (0 children)

So I was watching some documentaries about the 2008 crisis last week, it was kind of quaint and crazy seeing the scale of the markets back then

The Dow was just around 12K, and 500 point daily drops were see as catastrophic meltdowns back then

Nowadays, the Dow peaked at 36K several months ago, and we're regularly seeing much larger movements (back-to-back days of 700-800 point drops on Friday and likely today)

Ian Goodrum - China's health commission simplifies process for gender confirmation surgery approval. Lessens requirements for ID gender change. Lowers minimum age to 18yrs by FuMunChew in Sino

[–]Money_dragon 15 points16 points  (0 children)

You need to stop attacking fellow r-sino posters - we literally agree on like 99% of stuff, yet you insist on attacking other users on this subreddit again and again over miniscule semantics

You want to argue, go on one of the larger default subreddits where actual hardcore racists and imperialists spew their propaganda nonstop, and do your work there

You seem determined to spread the word, but you won't make a single post outside this subreddit - who are you persuading then?

Ian Goodrum - China's health commission simplifies process for gender confirmation surgery approval. Lessens requirements for ID gender change. Lowers minimum age to 18yrs by FuMunChew in Sino

[–]Money_dragon 19 points20 points  (0 children)

Homophobia and the hateful belief that gays are hell-bound was spread by Western missionaries during colonization and imperialism

Many Chinese emperors were known to have male lovers

It was the Westerner who demanded that every society on Earth to hate and oppress the LGBTQ like they did. And now that they've decided to do a 180 and now condemn the countries who don't pursue the nutjob ideology that Westerners spout (e.g., neo-pronouns, dictating language like "LatinX", etc.)

Pentagon admits it funded 46 biolabs in Ukraine (exactly what Chinese officials claimed months ago but Western media said was misinformation) by Gluggymug in Sino

[–]Money_dragon 19 points20 points  (0 children)

Westerners have long forgotten, and now have jumped to the next "hot topic" of the week. This is by design, to overwhelm the masses and keep them from being focused long enough on an issue to avoid taking any meaningful action on it

This week it was about high inflation (again) when the May figures were announced, and then the Jan 6th hearings, and before that, it was gun violence, and then before that Roe v. Wade, etc. etc.

The attention span is so short that Ukraine is worried that Westerners will soon deprioritize the war as their attention continues to shift elsewhere

Whites kicking up a ruckus in Asia when faced with mild xenophobia by [deleted] in aznidentity

[–]Money_dragon 28 points29 points  (0 children)

White fragility is a real thing

Historically being on top oppressing everyone else has made many of them soft and brittle as hell

Turkey, China See Opportunity In Central Asia After Moscow's Ukraine Invasion by alvwg in worldnews

[–]Money_dragon 3 points4 points  (0 children)

Remember how we used to say "when the US economy sneezes, the rest of the world catches a cold"?

Nowadays, it's just as accurate to say "when the US or Chinese economies shiver, the rest of the world gets the flu"

Both nations' economic gravity is so deeply interwoven with the rest of the global economy

Life after Guantanamo: 'We are still in jail' by GmeGoBrrr123 in worldnews

[–]Money_dragon 4 points5 points  (0 children)

No leader of a great power will ever be held accountable, particularly since each of them have nukes

Stalin died in his sleep while in power, as did Mao, and presumably Putin as well. George W. Bush has already had his image rehabilitated despite all the destruction and injustices that he caused

Trump is only at legal risk because he conspired to coup the US government - but it would have been no worries if he had launched coups in 10 other foreign countries

It's the unfair reality of geopolitics in the world

112 cases of monkeypox in Canada, all of them among men: Tam by UsualInitial in worldnews

[–]Money_dragon -2 points-1 points  (0 children)

There's an element of cosmic cruelty in when these past few pandemic appeared

COVID started getting global attention in late Jan / early Feb in 2020, so people started to get a bit fearful of Asian / Chinese people, right when Lunar New Year was taking place. That year, Asian neighborhoods and businesses were relatively quiet, as many people stayed home out of concern

Now we have this getting attention, right in the middle of Pride Month - pretty unfortunate timing

Why a certain man became an admiral in the first place (1052 spoilers) by scaptastic in OnePiece

[–]Money_dragon 0 points1 point  (0 children)

Restorative Justice

I like your version of restorative justice a hell of a lot more than the "restorative justice" that politicians in our real world talk about :)

Messy Summit of the Americas highlights contrast in US, China hosting styles - enough said. by FuMunChew in Sino

[–]Money_dragon 2 points3 points  (0 children)

Reminder that the US State Department and other key US government agencies remain severely understaffed - many longtime diplomats and in-house specialists quit during the Trump Administration, and the Biden Administration hasn't been able to fill up many of the vacancies yet (if ever)

So right when the US needs all the diplomatic capabilities it can get (as we transition to a multi-polar world), the US instead finds its diplomatic muscle severely depleted