Australian Politics Forum - What the poor dont Understand about wealth.

Grappler Deep State Feller

Gold Member

Offline

Australian Politics

Posts: 85011
Always was always will be HOME
Gender: male

Re: What the poor dont Understand about wealth.
Reply #30 - Jan 2^nd, 2025 at 10:06am

Sophia wrote on Jan 2^nd, 2025 at 9:48am:

aquascoot wrote on Jan 2^nd, 2025 at 9:42am:

Grappler Deep State Feller wrote on Jan 2^nd, 2025 at 9:26am:

That it's a privilege reserved for the rich?

I am beginning to believe so grappler

I think the only way the poor can ever get out of the cycle
Is a drastic decrease in government spending
And a balanced budget
If that requires increased taxation on people such as myself
Fair enough

But if we look at AustraliaEurope and particularly the united states
The more trillions of dollars governments pump into the economy
The more the wealth gap increases

As I say money can onlyEventually find a placeTo rest in real estate
In shares in profitable companies
In art
In gold and silver

The prices of all of these assets go up and up and up as more money is available in the economy

And who owns those asset classes

The rich and particularly the very rich

Government spending is a scam designed To make the rich richer

As I wrote earlier… they are bad at management, bad at business, can’t budget.

Without all the subsidies and props creating a dependent population, the market will revert to true market pressures - which inevitably means lower costs. No money in housing investment - no market .... so the question is'which way to go about it' - cut off rental assistance and buyer subsidies (how many 'investors' are STILL getting First Home Buyers etc through sneaky means?) - and the market dries up... control the madness of the banks' according 'equity' to a house bought a week ago when no such equity exists (below prime lending) and thus being allowed to generate their own massive profits alongside ever-rising costs of buying a home etc (in concert with the equally self-serving government immigration and housing policies) ... and the market will fall after first coming to a halt in rises.

Giving endless wage rises to try to catch up with cost rises is never going to work - but will only leave more and more in tent cities.

It's my long-running argument of cutting or halting cost rises first and then looking at incomes, as well as true tax reform for a change.

Back to top

« Last Edit: Jan 2^nd, 2025 at 10:16am by Grappler Deep State Feller »

“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams

IP Logged

Grappler Deep State Feller

Gold Member

Offline

Australian Politics

Posts: 85011
Always was always will be HOME
Gender: male

Re: What the poor dont Understand about wealth.
Reply #31 - Jan 2^nd, 2025 at 10:20am

Sophia wrote on Jan 2^nd, 2025 at 9:52am:

Our youth won’t be able to invest in real estate… it’s even eye watering prices for my liking!
But they are moving into stock market and coin investment.
Diversifying at best.
It gives them hope and an interest with investing.

Call me wrong - I've been wrong before - but I find 'blue chip' investment a costly venture for a very slow and low return.. it's all well and good to say 'Oh - my Silicom shares are now $129.72!' - but that's not money and Silicom is paying you $2 a share dividend a year - 250 odd years to get it back - Silicom (under the usual terrible management leaving the bosses and big investors with billions and you nothing) crashes tomorrow or the government mandates opposition to chop out their total control of the market - and down they go... start-up companies MIGHT yield big increases - most go under..... coin investment gives me the willies... it's a pyramid scheme writ large ... unless you can sell you get nothing and you can't eat 'my PieceCoin is up to $280,000 a glob!'

They've given up trying to sell Bitcon to me.... and unless you are a 'controlling interest investor' - i.e. those who actually set up Silicorp/Silicom with millions of shares amounting to a 51% OWNERSHIP and the 'jobs' at the top of the pile as well (money not recoverable in a crash since it's 'legitimate expenditure') compared to your several thousand and zero right to regain your cash upon failure............ I'd be very wary.

But then - I've been wrong in the past.... salaam ... I'll just have to die poor.

Back to top

« Last Edit: Jan 2^nd, 2025 at 10:28am by Grappler Deep State Feller »

“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams

IP Logged

Sophia

Gold Member

Offline

Posts: 8581

Re: What the poor dont Understand about wealth.
Reply #32 - Jan 2^nd, 2025 at 1:26pm

It may be slow returns but for those that want to put some hope into shares/coins… it’s an interest for them… some pay good within a year… for instance last year XRP was a good tip off 12 months ago under $1 and then it went to $4
My son’s friend put $10K and his efforts brought him $40k in 12 months!
Sure there’s risks but I’m not into putting 10K … I did put in a little and wish I did put in more (after the fact Grin

)
I’m reading up about predictions, from 2 years ago and seeing what they got right.

But on the whole, long term it is, and yet it teaches the young to tune in and be interested how money works on the exchange.
Some virtues taught …A bit of hope, anticipation… and patience.
Nothing ventured, nothing gained.

Back to top

IP Logged

Grappler Deep State Feller

Gold Member

Offline

Australian Politics

Posts: 85011
Always was always will be HOME
Gender: male

Re: What the poor dont Understand about wealth.
Reply #33 - Jan 2^nd, 2025 at 3:39pm

Sophia wrote on Jan 2^nd, 2025 at 1:26pm:

It may be slow returns but for those that want to put some hope into shares/coins… it’s an interest for them… some pay good within a year… for instance last year XRP was a good tip off 12 months ago under $1 and then it went to $4
My son’s friend put $10K and his efforts brought him $40k in 12 months!
Sure there’s risks but I’m not into putting 10K … I did put in a little and wish I did put in more (after the fact Grin

)
I’m reading up about predictions, from 2 years ago and seeing what they got right.

But on the whole, long term it is, and yet it teaches the young to tune in and be interested how money works on the exchange.
Some virtues taught …A bit of hope, anticipation… and patience.
Nothing ventured, nothing gained.

The trick is to cash in at the right time. Take the money and run - don't have regrets if it goes higher... many do that and then crash to earth. It's the strangest market - the price of a share depends on how much demand there is for it - so you get in early, buy cheap - and IF it rises to a certain point - cash in and start again. You must never confuse the current value of your shares with profit.

I'm going to be doing it myself soon.

Back to top

“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams

IP Logged

Daves2017 Gold Member Online Australian Politics Posts: 1162 Gender:	Re: What the poor dont Understand about wealth. Reply #34 - Jan 2^nd, 2025 at 4:01pm On the topic I believe one thing the poor don’t understand is how Dutton can forget he has a multi million dollar property and fail to declare it and absolutely nothing happened to him? Try that on Centrelink and watch your arse get hauled into court for fraud!
Back to top	Don’t vote for any of them. They just want your money! IP Logged

Bobby.

Gold Member

Online

Australian Politics

Posts: 106114
Melbourne
Gender: male

Re: What the poor dont Understand about wealth.
Reply #35 - Jan 2^nd, 2025 at 4:34pm

Grappler Deep State Feller wrote on Jan 2^nd, 2025 at 3:39pm:

Sophia wrote on Jan 2^nd, 2025 at 1:26pm:

It may be slow returns but for those that want to put some hope into shares/coins… it’s an interest for them… some pay good within a year… for instance last year XRP was a good tip off 12 months ago under $1 and then it went to $4
My son’s friend put $10K and his efforts brought him $40k in 12 months!
Sure there’s risks but I’m not into putting 10K … I did put in a little and wish I did put in more (after the fact Grin

)
I’m reading up about predictions, from 2 years ago and seeing what they got right.

But on the whole, long term it is, and yet it teaches the young to tune in and be interested how money works on the exchange.
Some virtues taught …A bit of hope, anticipation… and patience.
Nothing ventured, nothing gained.

The trick is to cash in at the right time. Take the money and run - don't have regrets if it goes higher... many do that and then crash to earth. It's the strangest market - the price of a share depends on how much demand there is for it - so you get in early, buy cheap - and IF it rises to a certain point - cash in and start again. You must never confuse the current value of your shares with profit.

I'm going to be doing it myself soon.

When the shoeshine boy tells you to buy shares it's time to sell.

Back to top

IP Logged