Author Topic: Monetary Wealth  (Read 5203 times)

guest78

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Re: Monetary Wealth
« Reply #120 on: July 14, 2022, 02:28:53 pm »
Crypto’s Free Rein May Be Coming to a Close
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Lawmakers in the US and Europe are considering ways to regulate crypto and crack down on money-laundering and other illicit activities.
https://www.wired.com/story/cryptos-free-rein-may-be-coming-to-a-close/?utm_source=pocket-newtab

guest78

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Re: Monetary Wealth
« Reply #121 on: July 17, 2022, 10:42:32 am »
How China's Banking Crisis Could hit the World
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China's economy is struggling at the moment, and has been for a while. So in this video we look at the latest looming issue, China's banking crisis. It's small at the moment, but it could eventually impact the entire world.

guest78

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Re: Monetary Wealth
« Reply #122 on: September 01, 2022, 06:52:18 pm »
A new Forbes analysis of 157 crypto exchanges finds that 51% of the daily bitcoin trading volume being reported is likely bogus.
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Within the emerging and turbulent market for cryptocurrencies, where there are no fewer than 10,000 tokens, bitcoin, is the great granddaddy, the blue-chip, representing 40% of the $1 trillion in crypto assets outstanding. Bitcoin is crypto’s gateway drug. An estimated 46 million adult Americans already own it according to New York Digital Investment Group, and an increasing number of institutional investors and corporations are warming to the nascent alternative asset.

But can you trust what your crypto exchange or e-brokerage reports about trading in the most important digital currency?
Entire article: https://www.forbes.com/sites/javierpaz/2022/08/26/more-than-half-of-all-bitcoin-trades-are-fake/?utm_source=pocket-newtab&sh=3a2ffe2a6681

guest78

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Re: Monetary Wealth
« Reply #123 on: September 16, 2022, 02:17:10 pm »
The Euro Is Failing: Why € Fell Below the $
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Over recent months the Euro has been struggling, plunging to lows not seen since the currency properly launched in the early 2000s. So why is Europe's central currency struggling, what does it mean for regular people and is the EU headed for recession.


Is China at Risk of a Major Financial Crisis? - VisualPolitik EN
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How close is China to a financial crisis, and is the banking system of the world's second largest economy really at risk?


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Poverty, the state of one who lacks a usual or socially acceptable amount of money or material possessions. Poverty is said to exist when people lack the means to satisfy their basic needs. In this context, the identification of poor people first requires a determination of what constitutes basic needs.
https://www.google.com/search?client=firefox-b-1-d&q=poverty

Reminder:

If 8 billion people only use 1 gallon of water per day, that is 8 billion gallons of fresh water being used around the world per day. The average person uses 101.5 gallons of water per day:
https://water.phila.gov/pool/files/home-water-use-ig5.pdf

At this rate of water usage Lake Tahoe in the U.S., which is estimated to contain 37 trillion gallons of water, is being drained every 46 days.

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Lake Tahoe contains an average of 37 trillion gallons of water. That's hard to imagine, but it is enough water to cover a flat surface, the size of California with 14 inches of water. If you did ever manage to drain Tahoe, it would take around 700 years to fill back up again.
https://www.fs.usda.gov/main/ltbmu/about-forest/about-area

See also:
https://trueleft.createaforum.com/news/water-supply/
https://trueleft.createaforum.com/issues/population-and-demographics/

90sRetroFan

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Re: Monetary Wealth
« Reply #124 on: September 16, 2022, 06:59:52 pm »
"The average person uses 101.5 gallons of water per day"

Replace "person" with "Westerner".

I wonder how many fewer gallons of water a person would use per day if they themselves had to lift from a well and carry home all the water they wanted to use (1 gallon = 3.79kg water). This is how superior ancient life was. I am not against labour-saving automation of water delivery in theory so long as it does not lead to more water used, but if in practice it leads to people using more water than they actually need to, it becomes decadence.
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guest78

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Re: Monetary Wealth
« Reply #125 on: September 16, 2022, 10:38:12 pm »
Replace "person" with "Westerner".

Indeed! Now add upon that equation the water used to raise non-humans for meat consumption by Western standards and the average 'person' may actually begin to realize the stress Westerners\human-beings have placed upon this planet!  :o

guest78

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Re: Monetary Wealth
« Reply #126 on: November 09, 2022, 02:43:37 pm »
‘Pig Butchering:’ A Text-And-Crypto Scam Costing Victims Millions | Tech News Briefing Podcast | WSJ
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Scammers are using friendship, fake cryptocurrencies and text messages to con millions of dollars out of unsuspecting victims. An increasingly common scam known as “Pig Butchering” is targeting professionals.


In other news:
What Hunter-Gatherers Can Teach Us About the Frustrations of Modern Work
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Research on early human societies offers lessons about improving our jobs today.
Entire article: https://www.newyorker.com/culture/office-space/lessons-from-the-deep-history-of-work?utm_source=pocket-newtab

Without even reading the above article, I would not be at all surprised if the author fails to recognize the fact that any society based on the Paleolithic era of hunter-gatherers will always do unnecessary work, and sees no problem in traveling large areas in-order to do this unnecessary work, i.e. commuting to work.

Only a civilization based on the Neolithic era, the actual era that made civilization possible in the first place, has a problem with unnecessary work in general, and even more-so with commuting to unnecessary jobs to do so!



guest78

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Re: Monetary Wealth
« Reply #127 on: November 24, 2022, 07:16:08 pm »
Making The Case For Abolishing Billionaires
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"One after another, four of our best-known billionaires laid waste to the image of benevolent saviors carefully cultivated by their class," Anand Giridharadas writes in a recent New York Times column. Giridharadas joins Morning Joe to discuss the case for abolishing billionaires.

guest78

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Re: Monetary Wealth
« Reply #128 on: November 26, 2022, 04:27:31 pm »
Thom Hartmann | Milton Friedman Was INSANE


So was Leo Strauss...

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Friedman was born in Brooklyn, New York on July 31, 1912. His parents, Sára Ethel (née Landau) and Jenő Saul Friedman, were Jewish working-class immigrants from Beregszász in Carpathian Ruthenia, Kingdom of Hungary (now Berehove in Ukraine).[29][30] They emigrated to America in their early teens.[29] They both worked as dry goods merchants. Friedman was their fourth child and only son, as well as the youngest of the children. [31] Shortly after his birth, the family relocated to Rahway, New Jersey.[32]
https://en.wikipedia.org/wiki/Milton_Friedman

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Neoliberalism, or neo-liberalism,[1] is a term used to signify the late 20th century political reappearance of 19th-century ideas associated with free-market capitalism after it fell into decline following the second world war.[2]: 7 [3] A prominent factor in the rise of conservative and libertarian organizations, political parties, and think tanks, and predominantly advocated by them,[4][5] it is generally associated with policies of economic liberalization, including privatization, deregulation, globalization, free trade, monetarism, austerity, and reductions in government spending in order to increase the role of the private sector in the economy and society.[14] The defining features of neoliberalism in both thought and practice have been the subject of substantial scholarly debate.[15][16]
https://en.wikipedia.org/wiki/Neoliberalism

This is primarily why in the U.S. we often see private individuals having to step in to fund things that the government should be responsible for...

Hartmann still gets it wrong in regards to the NSDAP:

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There are some good reasons why National Socialism belongs to the left rather than the right politically. In any case, [Hitler] had more in common with Stalin's totalitarianism than with Mussolini's fascism. In Italy in the twenties and thirties there were still the traditional class differences, while Hitler, unlike the socialists of all shades, promoted social equality. After the so-called seizure of power, contrary to what some members of the upper classes hoped, he did not restore the privileges lost in 1918. Instead, he simply replaced Marx's term of classless society with the vocabulary of the ‘people's community’ and sold the still terrifyingly socialist-sounding term as a kind of permanent fraternity celebration. — Joachim Fest, “Was Adolf Hitler a leftist?” Taz.am Wochenende (27 September 2003)

Side note:

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Strauss was born on September 20, 1899, in the small town of Kirchhain in Hesse-Nassau, a province of the Kingdom of Prussia (part of the German Empire), to Hugo Strauss and Jennie Strauss, née David. According to Allan Bloom's 1974 obituary in Political Theory, Strauss "was raised as an Orthodox Jew", but the family does not appear to have completely embraced Orthodox practice.[36] Strauss himself noted that he came from a "conservative, even orthodox Jewish home", but one which knew little about Judaism except strict adherence to ceremonial laws. His father and uncle operated a farm supply and livestock business that they inherited from their father, Meyer (1835–1919), a leading member of the local Jewish community.[37]
https://en.wikipedia.org/wiki/Leo_Strauss

guest78

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Re: Monetary Wealth
« Reply #129 on: November 28, 2022, 08:31:12 pm »
How Banks and Private Equity Cash In When Patients Can’t Pay Their Medical Bills
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[...]As Americans are overwhelmed with medical bills, patient financing is now a multibillion-dollar business, with private equity and big banks lined up to cash in when patients and their families can’t pay for care. By one estimate from research firm IBISWorld, profit margins top 29% in the patient financing industry, seven times what is considered a solid hospital margin.

Hospitals and other providers, which historically put their patients in interest-free payment plans, have welcomed the financing, signing contracts with lenders and enrolling patients in financing plans with rosy promises about convenient bills and easy payments.

For patients, the payment plans often mean something more ominous: yet more debt.

Millions of people are paying interest on these plans, on top of what they owe for medical or dental care, an investigation by KHN and NPR shows. Even with lower rates than a traditional credit card, the interest can add hundreds, even thousands of dollars to medical bills and ratchet up financial strains when patients are most vulnerable.[...]
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“Hospitals have found yet another way to monetize our illnesses and our need for medical help,” said Milcowitz, a graphic designer. She was charged 11.5% interest — almost three times what she paid for a separate bank loan. “It’s immoral,” she said.

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Debt Upon Debt
Nationwide, about 50 million people — or 1 in 5 adults — are on a financing plan to pay off a medical or dental bill, according to a KFF poll conducted for this project. About a quarter of those borrowers are paying interest, the poll found.

Increasingly, those interest payments are going to financing companies that promise hospitals they will collect more of their medical bills in exchange for a cut.
Entire article: https://khn.org/news/article/how-banks-and-private-equity-cash-in-when-patients-cant-pay-their-medical-bills/?utm_source=pocket-newtab

guest78

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Re: Monetary Wealth
« Reply #130 on: January 19, 2023, 11:31:29 pm »
U.S. hits debt limit, sets stage for political battle
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The U.S. hits its borrowing limit and sets up a debt ceiling fight on Capitol Hill. Meantime, President Biden makes his first public remarks on his handling of classified material. Plus, a Supreme Court investigation fails to find who leaked the abortion ruling draft.


U.S. hits debt ceiling, triggering potential debate over loan obligations
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The U.S. government has hit its legal borrowing limit. Democrats, including President Joe Biden, are warning Republicans to avoid a lengthy battle over whether to lift the debt ceiling in order to avoid defaulting on U.S. loan obligations.

BankRun

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Re: Monetary Wealth
« Reply #131 on: March 11, 2023, 01:32:50 pm »
SVB collapse is second-largest bank failure in US history
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Silicon Valley Bank collapsed Friday morning after a stunning 48 hours in which a bank run and a capital crisis led to the second-largest failure of a financial institution in US history.
California regulators closed down the tech lender and put it under the control of the US Federal Deposit Insurance Corporation. The FDIC is acting as a receiver, which typically means it will liquidate the bank’s assets to pay back its customers, including depositors and creditors.
The FDIC, an independent government agency that insures bank deposits and oversees financial institutions, said all insured depositors will have full access to their insured deposits by no later than Monday morning. It said it would pay uninsured depositors an “advance dividend within the next week.” CNN's Matt Egan reports. #CNN #MattEgan #cnnnewsroom


CEO describes pulling money from bank hours before collapse
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Alison Greenberg, CEO of Ruth Health, describes to CNN's Erin Burnett what it was like to urgently withdraw money from Silicon Valley Bank before it collapsed.

#CNN #News


Ex-US Treasury official weighs in on Silicon Valley Bank failure
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Aaron Klein, former deputy assistant secretary at the Treasury Department, discusses regulators' handling of Silicon Valley Bank.

#CNN #News

BankRun

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Re: Monetary Wealth
« Reply #132 on: March 11, 2023, 06:45:04 pm »
SVB's Failure WILL Spread...from the US to Ukraine!


MEANWHILE IN RUSSIA | Economy News Update March 7, 2023


PumpingStock

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Re: Monetary Wealth
« Reply #133 on: March 16, 2023, 03:20:08 pm »
FLASHBACK: Cramer PUMPS Silicon Valley Bank Stock 1 Month Before FAILURE | Breaking Points
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Saagar reacts to Jim Cramer pushing the stock for SVB right before the bank collapsed in historic fashion.


Comments:
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He’s doing exactly what his job entails. Finding suckers for Wall Street to scam money out of
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He’s reading of a teleprompter not his words.
He was pumping everything in site before 2007 crash.
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Kramer is the best at convincing retail investors into giving their money to Wall Street. He's a super villain
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“Bear Sterns is fine! Do NOT pull your money out” - Jim Crapper 2008
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Ahh Jim Cramer. Guy never saw a failing bank he didn’t like.
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Jims real job is to keep his rich buddies from losing. He’s hella good at it!!!

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What percentage of US wealth is in the stock market?

Federal Reserve data indicates that as of Q4 2021, the top 1% of households in the United States held 32.3% of the country's wealth, while the bottom 50% held 2.6%. In recent decades, wealth inequality has substantially increased in the United States.

Stock owned by richest 10%.
2016   84%
2013   81%
2001   71%
https://www.google.com/search?client=firefox-b-1-d&q=how+many+americans+invest+in+the+stock+market

RightistMarkets

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Re: Monetary Wealth
« Reply #134 on: March 16, 2023, 04:18:15 pm »
How the Housing Market Screwed Young People
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If we drill down into the data of the UK's housing crisis, it's clear that young people face the most difficult challenges when trying to get on the property ladder. So in this video, we break down what's behind the generational inequality in the UK.


Comments:
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They say you become more conservative when you age. Yet this shows there’s a luxury to be conservative if you have things to conserve, in which this government actions has denied that right for us young people.
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Housing and rent must be addressed if the Tories want to have any social constituency under 45 y/o. Young people are sick of giving their Landlord half their income. This is the main reason why people are turning against Neoliberalism.
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I'm 36 and a father of two. What I see and hear is only how this painful issue will keep my family's life miserable. No solutions on the horizon whatsoever.
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Not only have housing prices skyrocketed, but wages and salaries have not increased proportionately.

40 years ago, someone could work a fairly mundane job that doesn’t require a lot of skill and easily afford to purchase a home, whereas these days the same jobs are barely enough to feed yourself, and the only way for this generation to afford super expensive houses with our dogshit wages is either both partners in a relationship pulling a lot of overtime or we have to fight other potential candidates for exclusive high paying jobs.
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The housing market is basically a massive inter generational wealth transfer from younger people to older people. It’s utterly unsustainable.
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Unfortunately, it's not just a UK issue.
Housing is also an issue here in NZ as well.

There's also a whole bunch of societal effects as a result of high rent prices propped up by the unaffordability of buying homes.

Young people are living with their parents for longer because they don't want to pay ludicrous rent prices.

This in turn can delay developing independence, and other life skills such as budgeting. (This is partially the cause of some of the stereotypes around Gen Z/Millennials. Why bother saving for a house when you'll never be able to afford one? Just buy a nicer breakfast every day instead.)

Not to mention the issues when youth  have issues with their parents, but can't move out. (An example of this would be a gay person living with homophobic parents).

Becoming more rightist as you age is one sign that your Original Nobility was completely crushed as a child.