(08-15-2023 07:34 AM)mlb Wrote:  So how do you fix this? They own both political parties.

I think you'd have to start by getting rid of Citizen's United, but yeah good luck with that there's not a thing the SC is more ideologically committed to than protecting and enhancing corporate power.

(08-15-2023 05:45 AM)JRsec Wrote:  

(08-15-2023 05:34 AM)TigerBlue4Ever Wrote:  Can you say plutarchy...

At the end of the Roman Empire, the wealthy bid on becoming Emperor and the Senate allowed it because they used the bid to help pay to keep the government functioning. I knew we were in deep pooh when states rushed to the lottery to raise funds a nickel a ticket. The rise of lotto decimated key stoned point of purchase items which once made up a good percentage of 7-11 store purchases. People bought fewer soft drinks, snacks and chips and beer so they could buy lotto tickets, or scratch games. The state can't tax the lotto ticket, just the winnings, but the stores only made a nickel for each ticket sold. Yeah, they could get a nice % if the jackpot was purchased in their store but the odds? The items people quit buying were double your money purchases which help the stores sell gas which they paid a lot for and made little on, but the state taxed the hell out of that!

The next thing you know 7-11 stores are cutting staff. They simply weren't making enough as lotto short circuited their profit margins.

This is how the Feds think when they just print more money. They drive down the value of the dollar and encourage inflation. Well now that most of the nation lives paycheck to paycheck there is no elasticity in budgets to allow for an emergency expenditure which accounts for most divorces, and most poor credit ratings. Washington doesn't care, they've killed the goose which laid the golden egg of employment when they drove mom and pop out of business by selling perks and favors to Chains who keep the hours down, so they don't have to pay benefits.

Perks and favors for the super wealthy are destroying upward mobility and hope in this nation.

this nation is very close to margin call ———>>> hostile takeover…







y’all ain’ seen shite, yet!

(08-15-2023 07:57 AM)BartlettTigerFan Wrote:  

(08-15-2023 07:47 AM)U_of_Elvis Wrote:  

(08-15-2023 07:42 AM)BartlettTigerFan Wrote:  

(08-15-2023 07:34 AM)mlb Wrote:  So how do you fix this? They own both political parties.

Elvis says it doesn't need fixed. He's fine with being ruled.

Not my fault you don’t own investments.

Not my fault you're ignorant. I have a portfolio that I manage myself. It's MINE, I don't pay anyone to take care of it. Now go get another jab so you'll feel better.

So you don’t have any mutual funds, index funds, or ETFs? How’s that working out for you…

It works just fine. What kind of question is that? Just because you're brainwashed into thinking finances are a once size fits all proposition is not my fault.

(08-15-2023 08:40 AM)BartlettTigerFan Wrote:  It works just fine. What kind of question is that? Just because you're brainwashed into thinking finances are a once size fits all proposition is not my fault.

Yeah, most professional active fund managers can’t beat the index funds over the long haul. I’m sure you are managing a diverse portfolio of individual stocks and keeping up with the index funds over the long haul, at least in your little fantasy world.

Do yourself a favor, leverage a “lazy portfolio” of low cost index funds (VTSAX, VTIAX, VBTLX, VGSLX) and diversify away from individual stock picking for your core retirement position.

(08-15-2023 08:40 AM)BartlettTigerFan Wrote:  It works just fine. What kind of question is that? Just because you're brainwashed into thinking finances are a once size fits all proposition is not my fault.

Do the opposite of whatever ze says, youll do fine

(08-15-2023 08:49 AM)U_of_Elvis Wrote:  

(08-15-2023 08:40 AM)BartlettTigerFan Wrote:  It works just fine. What kind of question is that? Just because you're brainwashed into thinking finances are a once size fits all proposition is not my fault.

Yeah, most professional active fund managers can’t beat the index funds over the long haul. I’m sure you are managing a diverse portfolio of individual stocks and keeping up with the index funds over the long haul, at least in your little fantasy world.

Do yourself a favor, leverage a “lazy portfolio” of low cost index funds (VTSAX, VTIAX, VBTLX, VGSLX) and diversify away from individual stock picking for your core retirement position.

Here's the thing pookie, my house and 15 acres of land are paid for, my cars are paid for. I make a lot of money and sock most of it away every month. I really don't need your pathetic advice on portfolios.

I will admit you seem to be a legend in your own mind.

(08-15-2023 08:59 AM)BartlettTigerFan Wrote:  

(08-15-2023 08:49 AM)U_of_Elvis Wrote:  

(08-15-2023 08:40 AM)BartlettTigerFan Wrote:  It works just fine. What kind of question is that? Just because you're brainwashed into thinking finances are a once size fits all proposition is not my fault.

Yeah, most professional active fund managers can’t beat the index funds over the long haul. I’m sure you are managing a diverse portfolio of individual stocks and keeping up with the index funds over the long haul, at least in your little fantasy world.

Do yourself a favor, leverage a “lazy portfolio” of low cost index funds (VTSAX, VTIAX, VBTLX, VGSLX) and diversify away from individual stock picking for your core retirement position.

Here's the thing pookie, my house and 15 acres of land are paid for, my cars are paid for. I make a lot of money and sock most of it away every month. I really don't need your pathetic advice on portfolios.

I will admit you seem to be a legend in your own mind.

Financial advisors: See how leeches attach to a healthy host.

Host: See responsible individual who made what he did by himself.

The most destructive words most people can hear: "I'm with a a great firm and would like to help you manage your money!"

What people should hear when those words are spoken: "I got a worthless degree in backward looking economic philosophy and I need some or all of your money to make my living!"

(08-15-2023 06:42 AM)miko33 Wrote:  

(08-15-2023 05:35 AM)U_of_Elvis Wrote:  Yes, mutual funds are a thing. The rest of us have known this for a while.

Vanguard is owned by its funds. The funds are owned by millions of people in their 401k and taxable investment accounts.

How many owners of the mutual funds vote with the shares they own? Point being mutual fund owners pretty much cede their voting to the companies providing the funds and thus give a few people way too much power.

Bingo!

(08-15-2023 07:19 AM)b0ndsj0ns Wrote:  This is what encourages me more than anything with what's going on in this country. This type of thing used to literally only be a topic of the far left wing "Occupy Wallstreet" people, and now arguably just as many if not more people on the right have woken up to this corporate capture of everything in our lives.

The root cause isn't corporate corruption.

It's corruption of the individuals who own/control corporations.

And the corruption of the individuals who sit in the various positions with government -- federal, state and local.

And it's the corruption of the individuals who vote and/or accept the current status quo.

We, across every level of society, have abandoned religious morality.

Quote:Of all the dispositions and habits which lead to political prosperity, religion and morality are indispensable supports. In vain would that man claim the tribute of patriotism, who should labor to subvert these great pillars of human happiness, these firmest props of the duties of men and citizens. The mere politician, equally with the pious man, ought to respect and to cherish them. A volume could not trace all their connections with private and public felicity. Let it simply be asked: Where is the security for property, for reputation, for life, if the sense of religious obligation desert the oaths which are the instruments of investigation in courts of justice ? And let us with caution indulge the supposition that morality can be maintained without religion. Whatever may be conceded to the influence of refined education on minds of peculiar structure, reason and experience both forbid us to expect that national morality can prevail in exclusion of religious principle.

Washington's Farewell Address

Quote:We have no government armed with power capable of contending with human passions unbridled by morality and religion. Avarice, ambition, revenge or gallantry would break the strongest cords of our Constitution as a whale goes through a net. Our Constitution is designed only for a moral and religious people. It is wholly inadequate for any other.

John Adams to Massachusetts Militia

(08-15-2023 09:06 AM)JRsec Wrote:  

(08-15-2023 08:59 AM)BartlettTigerFan Wrote:  

(08-15-2023 08:49 AM)U_of_Elvis Wrote:  

(08-15-2023 08:40 AM)BartlettTigerFan Wrote:  It works just fine. What kind of question is that? Just because you're brainwashed into thinking finances are a once size fits all proposition is not my fault.

Yeah, most professional active fund managers can’t beat the index funds over the long haul. I’m sure you are managing a diverse portfolio of individual stocks and keeping up with the index funds over the long haul, at least in your little fantasy world.

Do yourself a favor, leverage a “lazy portfolio” of low cost index funds (VTSAX, VTIAX, VBTLX, VGSLX) and diversify away from individual stock picking for your core retirement position.

Here's the thing pookie, my house and 15 acres of land are paid for, my cars are paid for. I make a lot of money and sock most of it away every month. I really don't need your pathetic advice on portfolios.

I will admit you seem to be a legend in your own mind.

Financial advisors: See how leeches attach to a healthy host.

Host: See responsible individual who made what he did by himself.

The most destructive words most people can hear: "I'm with a a great firm and would like to help you manage your money!"

What people should hear when those words are spoken: "I got a worthless degree in backward looking economic philosophy and I need some or all of your money to make my living!"

You do realize that low fee index funds (.04% for VTSAX) are not managed asset programs with a financial advisor, right? About as far from that as you can get.

Low fee index funds build diversity cheaper than you can do it yourself with a lower step in cost.

(08-15-2023 09:46 AM)U_of_Elvis Wrote:  You do realize that low fee index funds (.04% for VTSAX) are not managed asset programs with a financial advisor, right? About as far from that as you can get.

Low fee index funds build diversity cheaper than you can do it yourself with a lower step in cost.

I guess you missed the part about some of us don't care.

(08-15-2023 08:59 AM)BartlettTigerFan Wrote:  

(08-15-2023 08:49 AM)U_of_Elvis Wrote:  

(08-15-2023 08:40 AM)BartlettTigerFan Wrote:  It works just fine. What kind of question is that? Just because you're brainwashed into thinking finances are a once size fits all proposition is not my fault.

Yeah, most professional active fund managers can’t beat the index funds over the long haul. I’m sure you are managing a diverse portfolio of individual stocks and keeping up with the index funds over the long haul, at least in your little fantasy world.

Do yourself a favor, leverage a “lazy portfolio” of low cost index funds (VTSAX, VTIAX, VBTLX, VGSLX) and diversify away from individual stock picking for your core retirement position.

Here's the thing pookie, my house and 15 acres of land are paid for, my cars are paid for. I make a lot of money and sock most of it away every month. I really don't need your pathetic advice on portfolios.

I will admit you seem to be a legend in your own mind.

Well, good luck with your individual stock picking and not beating the market long term. If you come to your senses I suggest the book “The Bogleheads guide to Investing” and the Bogleheads forum if you want to get actual low cost diversity self managed.

(08-15-2023 09:46 AM)U_of_Elvis Wrote:  

(08-15-2023 09:06 AM)JRsec Wrote:  

(08-15-2023 08:59 AM)BartlettTigerFan Wrote:  

(08-15-2023 08:49 AM)U_of_Elvis Wrote:  

(08-15-2023 08:40 AM)BartlettTigerFan Wrote:  It works just fine. What kind of question is that? Just because you're brainwashed into thinking finances are a once size fits all proposition is not my fault.

Yeah, most professional active fund managers can’t beat the index funds over the long haul. I’m sure you are managing a diverse portfolio of individual stocks and keeping up with the index funds over the long haul, at least in your little fantasy world.

Do yourself a favor, leverage a “lazy portfolio” of low cost index funds (VTSAX, VTIAX, VBTLX, VGSLX) and diversify away from individual stock picking for your core retirement position.

Here's the thing pookie, my house and 15 acres of land are paid for, my cars are paid for. I make a lot of money and sock most of it away every month. I really don't need your pathetic advice on portfolios.

I will admit you seem to be a legend in your own mind.

Financial advisors: See how leeches attach to a healthy host.

Host: See responsible individual who made what he did by himself.

The most destructive words most people can hear: "I'm with a a great firm and would like to help you manage your money!"

What people should hear when those words are spoken: "I got a worthless degree in backward looking economic philosophy and I need some or all of your money to make my living!"

You do realize that low fee index funds (.04% for VTSAX) are not managed asset programs with a financial advisor, right? About as far from that as you can get.

Low fee index funds build diversity cheaper than you can do it yourself with a lower step in cost.

I realize that I started with nothing, held 3 jobs in high school, worked throughout my college, retired from two careers, bought my first car myself, paid for all of my college, got married, had a family, had grandchildren, and am comfortably retired with plenty and have never had anyone manage anything that was mine but me! And if they had tried, I would have politely declined, and if they persisted, they would have done so at their own peril. What is mine, is mine, I owe nothing! And it is nobody else's business or responsibility but my own.

If I have to buy a dictionary on financial terminology that means I'm getting screwed! Now you have been politely declined!

And FTR, I did invest, but in commodities which was something I understood, and which people need. I lost 5% when the financial crisis hit. All my buds in equities took a 35 to 40% bath. But that's what happens when you trust your investments to someone else, especially if you invested in equities. The best advice ever given to me was from 2 very wealthy multimillionaires who said quite simply, never invest in something you don't fully understand, and never trust others with your money. Both lived through the depression, and both got rich buying cheap land during it with money they had never placed in a bank. 25cents an acre at the worst of the depression and they bought thousands of acres.

(08-15-2023 09:49 AM)U_of_Elvis Wrote:  Well, good luck with your individual stock picking and not beating the market long term. If you come to your senses I suggest the book “The Bogleheads guide to Investing” and the Bogleheads forum if you want to get actual low cost diversity self managed.

Dude you massive ego maniac. I have no interest in building generational wealth. I have everything I need. I dabble in the stock market for entertainment. Please go find some more pathetic creature to preach to.

(08-15-2023 09:54 AM)JRsec Wrote:  

(08-15-2023 09:46 AM)U_of_Elvis Wrote:  

(08-15-2023 09:06 AM)JRsec Wrote:  

(08-15-2023 08:59 AM)BartlettTigerFan Wrote:  

(08-15-2023 08:49 AM)U_of_Elvis Wrote:  Yeah, most professional active fund managers can’t beat the index funds over the long haul. I’m sure you are managing a diverse portfolio of individual stocks and keeping up with the index funds over the long haul, at least in your little fantasy world.

Do yourself a favor, leverage a “lazy portfolio” of low cost index funds (VTSAX, VTIAX, VBTLX, VGSLX) and diversify away from individual stock picking for your core retirement position.

Here's the thing pookie, my house and 15 acres of land are paid for, my cars are paid for. I make a lot of money and sock most of it away every month. I really don't need your pathetic advice on portfolios.

I will admit you seem to be a legend in your own mind.

Financial advisors: See how leeches attach to a healthy host.

Host: See responsible individual who made what he did by himself.

The most destructive words most people can hear: "I'm with a a great firm and would like to help you manage your money!"

What people should hear when those words are spoken: "I got a worthless degree in backward looking economic philosophy and I need some or all of your money to make my living!"

You do realize that low fee index funds (.04% for VTSAX) are not managed asset programs with a financial advisor, right? About as far from that as you can get.

Low fee index funds build diversity cheaper than you can do it yourself with a lower step in cost.

I realize that I started with nothing, held 3 jobs in high school, worked throughout my college, retired from two careers, bought my first car myself, paid for all of my college, got married, had a family, had grandchildren, and am comfortably retired with plenty and have never had anyone manage anything that was mine but me! And if they had tried, I would have politely declined, and if they persisted, they would have done so at their own peril. What is mine, is mine, I owe nothing! And it is nobody else's business or responsibility but my own.

If I have to buy a dictionary on financial terminology that means I'm getting screwed! Now you have been politely declined!

And FTR, I did invest, but in commodities which was something I understood, and which people need. I lost 5% when the financial crisis hit. All my buds in equities took a 35 to 40% bath. But that's what happens when you trust your investments to someone else, especially if you invested in equities. The best advice ever given to me was from 2 very wealthy multimillionaires who said quite simply, never invest in something you don't fully understand, and never trust others with your money. Both lived through the depression, and both got rich buying cheap land during it with money they had never placed in a bank. 25cents an acre at the worst of the depression and they bought thousands of acres.

Cool story but still doesn’t change the fact that low cost index funds have nothing to do with “letting other people manage your money”.

After reading this thread , Ithink we should tax low cost index funds at 90% to help with income equality.


Sent from my iPhone using Tapatalk

(08-15-2023 10:56 AM)U_of_Elvis Wrote:  

(08-15-2023 09:54 AM)JRsec Wrote:  

(08-15-2023 09:46 AM)U_of_Elvis Wrote:  

(08-15-2023 09:06 AM)JRsec Wrote:  

(08-15-2023 08:59 AM)BartlettTigerFan Wrote:  Here's the thing pookie, my house and 15 acres of land are paid for, my cars are paid for. I make a lot of money and sock most of it away every month. I really don't need your pathetic advice on portfolios.

I will admit you seem to be a legend in your own mind.

Financial advisors: See how leeches attach to a healthy host.

Host: See responsible individual who made what he did by himself.

The most destructive words most people can hear: "I'm with a a great firm and would like to help you manage your money!"

What people should hear when those words are spoken: "I got a worthless degree in backward looking economic philosophy and I need some or all of your money to make my living!"

You do realize that low fee index funds (.04% for VTSAX) are not managed asset programs with a financial advisor, right? About as far from that as you can get.

Low fee index funds build diversity cheaper than you can do it yourself with a lower step in cost.

I realize that I started with nothing, held 3 jobs in high school, worked throughout my college, retired from two careers, bought my first car myself, paid for all of my college, got married, had a family, had grandchildren, and am comfortably retired with plenty and have never had anyone manage anything that was mine but me! And if they had tried, I would have politely declined, and if they persisted, they would have done so at their own peril. What is mine, is mine, I owe nothing! And it is nobody else's business or responsibility but my own.

If I have to buy a dictionary on financial terminology that means I'm getting screwed! Now you have been politely declined!

And FTR, I did invest, but in commodities which was something I understood, and which people need. I lost 5% when the financial crisis hit. All my buds in equities took a 35 to 40% bath. But that's what happens when you trust your investments to someone else, especially if you invested in equities. The best advice ever given to me was from 2 very wealthy multimillionaires who said quite simply, never invest in something you don't fully understand, and never trust others with your money. Both lived through the depression, and both got rich buying cheap land during it with money they had never placed in a bank. 25cents an acre at the worst of the depression and they bought thousands of acres.

Cool story but still doesn’t change the fact that low cost index funds have nothing to do with “letting other people manage your money”.

I could not care less. Good luck with whatever it is you do. The event horizon is bleak.

(08-15-2023 11:03 AM)WalkThePlank Wrote:  After reading this thread , Ithink we should tax low cost index funds at 90% to help with income equality.


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Yes, taxing everyone’s 401k at 90% (which is effectively what taxing index funds would accomplish) would help with income inequality if you mean help increase it..

(08-15-2023 11:23 AM)U_of_Elvis Wrote:  

(08-15-2023 11:03 AM)WalkThePlank Wrote:  After reading this thread , Ithink we should tax low cost index funds at 90% to help with income equality.


Sent from my iPhone using Tapatalk

Yes, taxing everyone’s 401k at 90% (which is effectively what taxing index funds would accomplish) would help with income inequality if you mean help increase it..

But our government needs the money. We should all care about the deficit more than our individual financial situation. Maybe even use the money to help pay for all the Starbucks baristas 20 year delinquent college loan.


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