Liberal Forum

Thread about debt slavery and immiseration of the peons 

(Also why I am ultra-bearish for the next 12-15 or so years)

——————————————

Exhibit 1:

CHINK YouTuber (he became a millionaire at age 25 via stock options working for Google = total compensation was over $1M over 3 years) says “AGE OF MAKING MONEY IS OVER”

https://youtu.be/rJJBnmDkEwI?si=vrgo1-6Q1E4SjE9L

LowIQTrash » 06 May 2024, 1:34 am » wrote: ↑

06 May 2024, 1:34 am

Thread about debt slavery and immiseration of the peons 

(Also why I am ultra-bearish for the next 12-15 or so years)

——————————————

Exhibit 1:

CHINK YouTuber (he became a millionaire at age 25 via stock options working for Google = total compensation was over $1M over 3 years) says “AGE OF MAKING MONEY IS OVER”

https://youtu.be/rJJBnmDkEwI?si=vrgo1-6Q1E4SjE9L

ever do Mark Farber - the gloom doom guy?
https://www.gloomboomdoom.com/
 

and this guy is very smart. this is the guy they hired to watch money moving in and out on the day of 911.

https://www.youtube.com/watch?v=G_oLiWnWNVQ

and the infamous GDP-eeeee peter shiff.

https://www.youtube.com/watch?v=W2kUSoGfG4g

To expand on that YouTuber’s point…let’s check the math:

———————————————

I would say for 2024…

$1M for barebones retirement (over 20 yrs)
$3M for modest retirement (20 yrs)
$5M for good retirement (20 yrs)
$8M+ for great retirement (25+ yrs)
$20M for luxury degenerates 

However, due to rampant inflation, in another 25 years it’s going to be $3M $5M $8M $10M $25M respectively.

Let’s say someone is aiming for the lowest tier of $3M for barebones retirement in 2050 and has a working spouse.

Over the course of approx ~30 yrs they need to accumulate $3M worth of assets (cash, stocks, properties (incl possibility of downsizing), etc.).

This means, on average they need to accumulate 100,000 in NW per year. 

I don’t have the precise numbers but let’s test…

1) Hubby makes $100K, wife makes $75K

Not enough because taxes eat at least 30%, then the mortgage is 6% (at current rates) on a house worth $500K - $750K, then childcare + other expenses meaning they’d be lucky to save 20% ($35K) of earned income 

They wouldn’t reach the $3M line…unless they got super lucky with investments. 

2) Hubby makes $200K, wife makes $100K

Higher tax rate ~35%, expected higher expenses to keep up with the Joneses, so let’s say they save $85K a yr

$85K * 30 = ~$2.55M (with proper investment each yr could easily be over $5M)

So case #2 will be fine…but people like this only encompass a small % of the pop. 

———————————————


But I think there’s an even bigger issue that extends beyond the money…which is the mind **** inane corporate “culture” you’d have to endure for 30 yrs…

1) Endless meetings
2) DEI 
3) Subhuman HR 
4) Bosses calling you after work 
5) Some 120 IQ midwit director yelling at your manager who then yells at you for failing to meet quotas so the poor CEO has to lie during earnings so the stock price doesn’t tank 

And, not to mention you will likely have to switch jobs every few yrs these days. While in the past job hopping has led to pay increases, I have heard stories where pay increases are no longer the norm (typically it’s the same salary or even lower if the employer senses enough desperation)

sootedupCyndi » 06 May 2024, 1:58 am » wrote: ↑

06 May 2024, 1:58 am

and the infamous GDP-eeeee peter shiff.

https://www.youtube.com/watch?v=W2kUSoGfG4g

sorry I have too many things to write on this subject so I don’t have time to reply   

I have 2 more addendums to add to my previous post:

1) “But what about MUH 7% ANNUAL GROWTH IN THE SP 500 with REINVESTED DIVVIES?”

YOU, my friend, are a gullible idiot. That only works if:

1) Your timing isn’t terrible (You did NOT buy in 1999-2001, 2007-2008) because then you’d be underwater for years

2) The stock market is in a secular bull formation 

Since we are about to enter a long BEAR market this means your investments will EVAPORATE and you would be lucky to get 2% let alone 7%

And don’t forget inflation, which is much higher than the REPORTED numbers

2) Is SE (self employment) an alternative?

The answer is “It depends.” I will say that SE is not the optimal long term plan due to you being taxed to oblivion by our criminal federal and state governments, who love taxing upper middle class peons at 40% & billionaires and oligarchs close to 0%

 
 

I have some true, interesting stories of people who “made it” with a nice $5M stash or more upon retiring…some achieving that $5M benchmark before 50. 

Almost none of them followed the retarded conservatives’ mantra of “work hard & succeed.” If you “work hard” you will just be a MCWS. (MIDDLE CLASS WAGE SLAVE)

You will not be “free.” 

They relied on cunning and trickery (and luck). But those stories are for another day this week. 

————————————


1) Some careers are well paying but may result in fast burnout

For example, nursing is one of those “high demand” careers and only requires a BSN, but the catch is…

If you don’t enjoy helping people and interacting with patients, you’re not likely to last more than 10 years and then be forced to change jobs again…lol. Esp when coworkers, managers, and even patients go **** on you every other day because some patient shat the bed literally.   

2) Work week

A lot of people brag about how much they make but not disclose their weekly time committed, which includes sitting in traffic, travelling, etc.

I am firmly of the opinion the vast majority of people are ill suited for anything over 40 hours / wk, and attempting to push people into "working more hours/week" will result in faster burnout / eventual resignation 

3) True source of income dries up 

I think this is the biggest one…that most people haven’t realized.

What I mean by “true source” is: which entity is paying your employer?

Tech workers’ true source of income isn’t tech companies, it’s venture capital. Venture capital enabled the growth spurt in tech companies and startups. The tech companies are just the organizations. 

HC workers’ true source of income isn’t hospitals or clinics, it’s insurance companies and government spending.

M&A’s true source = low interest rates

A lot of people are hyping AI currently. As long as there is VC $ pouring into this space, AI is viable...but who knows how long this will last. 
 
 

LowIQTrash » 06 May 2024, 1:34 am » wrote: ↑

06 May 2024, 1:34 am

Thread about debt slavery and immiseration of the peons 

(Also why I am ultra-bearish for the next 12-15 or so years)

——————————————

Exhibit 1:

CHINK YouTuber (he became a millionaire at age 25 via stock options working for Google = total compensation was over $1M over 3 years) says “AGE OF MAKING MONEY IS OVER”

https://youtu.be/rJJBnmDkEwI?si=vrgo1-6Q1E4SjE9L

Gratitude is an attitude. Eternal debt of gratitude is given by the faithful to those promising life exceeds time adapting as displaced since conceived intellectual souls are allowed to own space time in this continuum living never exceeds adapting to the moment here as genetics always eternally separates each great great grandchild born this rotation of the planet.

Life evolves one way each generation gap changing population left living each next rotation of the planet lifetimes never duplicate the past in current events so far...

Current events occur by each ancestor adapting to space this rotation inclusive of every generation gap here in the entire food chain native to this atmosphere.

Economics is an intellectual 3rd party means to get between two sides not same results present regardless the geographical point of separately living here now.

Life reproduces 5 generation gaps each ancestor is timed apart in relative positions of 16 great great grandparents longest alive generation gap that added the exact 8 great grandparent generation gap combined the 3rd generation gap of 4 grandparents, bring forth in evolution the 2 parenting each great great grandchild born this rotation series parallel events that have taken place every rotation this planet existed in this solar system, this galaxy, this universe perpetually balancing outcomes to results already here never duplicated in any past rotation so far.

Pardon the pun, but relative time only compares who's who this rotation of the planet without allowing everyone alive to understand how eternity works sustaining eternal separation of each adapting forward this rotation.

This is an unrealistic fallacy at best...

5 mil? what world do these ppl live in?

ROG62 » 06 May 2024, 6:05 am » wrote: ↑

06 May 2024, 6:05 am

This is an unrealistic fallacy at best...

5 mil? what world do these ppl live in?

reality is a new world order ancestors change their mind on which artificial intelligence they rather defend until dead ignoring how their ancestry arrives as eternally separated this rotation.

which category of typecast positions alive this rotation are you defending until extinction?

typecast positions one of 16 great great grandparents, 1 of 8 great grandparents, 1 of 4 grandparents, 1 of 2 parenting the arrival of next generation of great great grandchildren.

Male or female body type, race, creed, color, national origin, social mantra copied cradle to grave, geographical area occupying time adapting as displaced never same form since fertilized cell, ideology assumed all anyone needs to know to stay in character until extinction ends role playing throughout history becoming tomorrow when evolving doesn't exceed adapting in space this rotation, no exceptions ever.

LowIQTrash » 06 May 2024, 1:34 am » wrote: ↑

06 May 2024, 1:34 am

Thread about debt slavery and immiseration of the peons 

(Also why I am ultra-bearish for the next 12-15 or so years)

——————————————

Exhibit 1:

CHINK YouTuber (he became a millionaire at age 25 via stock options working for Google = total compensation was over $1M over 3 years) says “AGE OF MAKING MONEY IS OVER”

https://youtu.be/rJJBnmDkEwI?si=vrgo1-6Q1E4SjE9L

I've seen videos from this guy. I'm not sure which came first, him making $1 mil off trading or losing $350k trading.
One thing that stuck out, he doesn't have any time now cause the JOB gets in the way.

This is entertaining, 
https://youtu.be/5IcvRe8bQhU?si=0Gg-9HcsAVfIX3rP

There are a few other vids of some people doing a review of his video, worth a watch.

​​​​

 
 

Fuelman » 06 May 2024, 5:29 pm » wrote: ↑

06 May 2024, 5:29 pm

I've seen videos from this guy. I'm not sure which came first, him making $1 mil off trading or losing $350k trading.
One thing that stuck out, he doesn't have any time now cause the JOB gets in the way.

This is entertaining, 
https://youtu.be/5IcvRe8bQhU?si=0Gg-9HcsAVfIX3rP

There are a few other vids of some people doing a review of his video, worth a watch.

​​​​

JOB? I thought he quit YouTube recently...and there's no way in hell he returned to work in tech. He even said that none of tech salaries ($150 - $250K) appeal to him because he used to make $330K+ / yr and this was back in the early 2010s, which translates to $650K+/yr now adjusted for actual inflation.

How many tech companies today are paying you $650K+/yr incl. bonuses and stock options? Maybe OpenAI and a couple other AI exclusive companies? 

 
 

ROG62 » 06 May 2024, 6:05 am » wrote: ↑

06 May 2024, 6:05 am

This is an unrealistic fallacy at best...

5 mil? what world do these ppl live in?

I am rather blessed or cursed, depending on your POV, to know a number of people (more than I can count on 2 hands, and I have all 10 fingers) who have more than $10M in NW and are approaching retirement. 

Living the American Dream (Case Study #1): Overbilling insurance

@Fuelman read this and learn how the real pros do it!   

Let's consider this enigma: how does someone who is SUPPOSED to make a low 6 figure salary end up having a NW in the low to mid millions in less than a decade's worth of work? (This person is an alternative healthcare practitioner, her annual income is supposed to be around the $140K - $180K mark)

Well it turns out that this person does a neat little "trick": whenever a client sees her and finishes her session, she bills insurance for 2, sometimes 3 "visits." This is, in fact, why some practitioners do very well and fit into that upper middle class crust of semi-retired peeps and others just languish and end up being the equivalent of MCWS (middle class wage slaves). 

Could you obtain a NW in the lower mid millions with a $400K annual income with fewer than 10 years of work? (Mystery solved!)   

-------------------------------------------------------------

Let's face it: patients don't really have money. In fact, they would prefer to pay you (the hypothetical healthcare provider) as little as possible. Not so with insurance - as most of you know, hospitals bill for an insane amount and healthcare insurance companies have entire departments devoted to haggling down the hospital bill.

Naturally, small/independent clinics like hers can basically get away with charging "non-outrageous" fees but at the same time, claim multiple visits in lieu of 1. And nobody in insurance will bother to investigate because they're trying to fight off the millions or billions in charges from large providers. 

(I believe a lot of law firms get away with this as well - they will quietly "revise" the # of hours billed when the client isn't looking. So if a client used their service for 5 hours, they might bill for 6 or 7. If the client is a large corp then it's unlikely the large corp will waste time fixing what would constitute a "rounding error" on the income/expenses statement)

 
 

what the government numbers do not show. THE UNDER GROUND ECONOMY. 'pay check labor' moving under ground, cash only, economy. i know an under ground painter making 150k a year. no taxes. saved on having my computer serviced by under ground economy. car repair in my garage by an illegal. less tax for the government jews. when you buy under ground you are not funding ukraine war. not funding the beating of students. plus saving your money. your taxes are used against you. not for you.

walkingstick » 06 May 2024, 11:32 pm » wrote: ↑

06 May 2024, 11:32 pm

what the government numbers do not show. THE UNDER GROUND ECONOMY. 'pay check labor' moving under ground, cash only, economy. i know an under ground painter making 150k a year. no taxes. saved on having my computer serviced by under ground economy. car repair in my garage by an illegal. less tax for the government jews. when you buy under ground you are not funding ukraine war. not funding the beating of students. plus saving your money. your taxes are used against you. not for you.

The (((international usurers))) love taxing the working (whether poor or middle class) peons to death.

Buy a loaf of bread? Sales tax.

Fill up your car, which you need to get around in most cities or towns? Excise tax.

Even services like cleaning and painting are technically supposed to incur a "sales" tax. So self-employed peeps who do NOT operate in this underground economy are paying 5 - 12% higher in taxes than their W2 counterparts. 

(((They))) are nothing but a bunch of criminals and thieves.
 
 

the people are not stupid. usa headed for cash only economy. no pay checks. no boss man. amazing how happy the people in the under ground economy are. work at minimum wages? why? you can triple your income in the recycle trade. go door to door. ask people if they have any junk they want to get rid of. out comes scrap iron. every thing has a value. if you take time to discover the values in junk. see apples falling on the ground and rotting. ask owner if you can have the apples on the trees. loud yes reply. sell apples on a busy street corner. you will be surprised at the number of happy people who will want to chat with you. give you extra money. all not taxed. what i love is baby sitting the elderly. many old fashion families care for the old parents. during working hours they drop their old parents off at a elderly day care center. the old people love it. play games, chat and even dance. there is only poverty for wage check workers, who will make pig buffet billions.

LowIQTrash » 06 May 2024, 11:43 pm » wrote: ↑

06 May 2024, 11:43 pm

The (((international usurers))) love taxing the working (whether poor or middle class) peons to death.

Buy a loaf of bread? Sales tax.

Fill up your car, which you need to get around in most cities or towns? Excise tax.

Even services like cleaning and painting are technically supposed to incur a "sales" tax. So self-employed peeps who do NOT operate in this underground economy are paying 5 - 12% higher in taxes than their W2 counterparts. 

(((They))) are nothing but a bunch of criminals and thieves.

Even though I know nothing about economics and finance..if more people led their life the way I have...[[[the Usurers]]] wouldn't have nearly as much leverage as they do.
People bring the RAT RACE onto themselves and blame the system.
Yes it's easy to blame the system...but there are  ways that require discipline, patience, a sense of adventure, sacrifice and hard work that will keep you from shaking hands with the Loan Officer at the bank.

GHETTOBLASTER » 07 May 2024, 12:17 am » wrote: ↑

07 May 2024, 12:17 am

Even though I know nothing about economics and finance..if more people led their life the way I have...[[[the Usurers]]] wouldn't have nearly as much leverage as they do.
People bring the RAT RACE onto themselves and blame the system.
Yes it's easy to blame the system...but there are  ways that require discipline, patience, a sense of adventure, sacrifice and hard work that will keep you from shaking hands with the Loan Officer at the bank.

I think the 2 most viable options to stay sane are to either do what you did (live a mostly minimalist lifestyle) or to use "creative" trickery, much like (((the Usurers))) themselves adopt...in order to get massively ahead.

(See my previous post about someone double - sometimes triple - billing insurance, which allowed this person to fast-track their retirement goals by more than a decade)

Get a $5M, $10M, $20M, or however much NW you can acquire ASAP and don't be an idiot / lose it all on stupid ****...

It is almost impossible for me to find someone today who is truly rich or wealthy and didn't find a way to extract value from others' labor in clandestine manners...we have the (((money changers))) to thank for perfecting that craft.