Unfortunately its not an easy solution that works. Cost of labor is a cost in the economy like anything else. Workers can be paid more but also efficiency must increase in order to combat inflation. If people are literally dying off because they arent being paid fairly its an arguable situation to a lesser extent but I dont think its safe to overly pursue a policy of minimum wages as a solution to failures elsewhere. Its the emergency backup or safeguard rather then the actual fix to inflation and other failings.
However, hence the inflation is high, it eats deep into the purchasing powers of the citizens, that is why some persons are arguing that, increase in the minimum wage on the side of government will help to balance the purchasing powers of the citizens and it wouldn't be a bad idea because their purchasing powers are weak. It doesn't stop the government to fight the root cause of inflation, but the situation whereby citizens cannot easily afford things they basically used to as a result of inflation then the idea of increasing their pay becomes reasonable. This will never work, ever. Say you own a business and min wage goes up. Where does that extra money come from? You have to increase prices of your products accordingly. Additionally you cut the weak employees and increase the load accordingly on the now higher paid ones. As an employer at this time, break's are going to be precise and no phone time at all. The best way to fight inflation? Don't elect morons like Biden who print money ad nauseum |
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Lots of horrible advice in here.
The answer really depends on your situation.
Let's say you lose your job and the Biden economy has gone no lube on you, debts are mounting and soon you have a insurmountable mountain to climb.
If you can't make your car or house note it's going to look like a bankruptcy is in order, that's fine don't be afraid of it.
Get a lawyer.
Get a new bank quickly. Have your pay deposited, if someone wants to snag your cash they won't know where it is for awhile until this event is over. Credit Unions, big banks will sell you out.
Don't answer calls or transact over the phone, everything must be registered mail. This buys you time. Never do jack shit with a debt collector.
Do NOT cash out 401k to pay your debt, they can't touch it. It's your to keep. Do not pay one creditor and not the other. This can create an ugly claw back situation. Stop paying everyone at the same time.
Don't surrender anything it will take months and months for them take them after you have filed. Make them come get it. Walking in and handing it over doesn't get you anything.
Don't lose any sleep screwing the banks, they signed up for the risk.
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Here in the US.
Consumer debt is at an all time high, defaults are increasing on vehicles and credit cards. Repos are up.
Bidenomics has murdered the middle class and small business. People are using credit to buy necessitates. Layoff are starting to mount in large companies. I just looked at Amazon, Lowes and Home Depot websites here in Norcal and I see one job posted when there was once pages.
It looks just like 2008 all over again. Housing will be the first to crumble, people will be underwater and rates too high.
Remember this when you vote.......
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This really depends on location/country and cultures.
That being said, I can speak for CA USA.
Women these days are down right mercenaries. They don't give a shit about you only to secure a place in the food chain hopefully higher than their friends. Single moms are the worst, your just a meal ticket.
With a swipe you are perfectly replaceable in minutes. They will be on to find a simp they can bully around. Why not? Dick is free and falls from trees, why put any effort into it.
It's been my experience on multiple occasions they will be with you but never stop swiping for the next best thing.
If I was a young man I would NEVER get married, period no matter. Nothing in it for the male, only loss.
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Unless you bought Bitcoin really cheaply, now doesn't seem like the best time to be selling. The halving is only 2 months away. If you don't need the money urgently then I would just wait and see how the price performs after this reduction. A large correction is to be expected at some point but currently things look very bullish for Bitcoin. ETF demand is helping drive the current pump and we are just at the beginning of the post-approval era. Based purely on precedent it is expected that Bitcoin will reach a new all time high soon after the halving.
Hi, yeah I don't need the money. Just sell SOME and secure a profit leaving more than my original input in place. I won't even stop my DCA inputs. This is not a prediction or lack of confidence. Halving is a few months that and any ATH is 6 months ish after that, that's a long time. I am pro ETF but just sampling a few at this point it's only a few billion AUM thus far what maybe 1 or 2% of bitcoins total market cap. But it's coming. Wrong time of year to talk about tax harvesting opportunities. |
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That means you have not sold before and not happy that you sold your coins. This happens when you sell your coins and the market later favour more as the price of bitcoin continue to increase.
What some people are expecting as a holder is not to sell anytime there is small profit, but to wait until bitcoin get to all-time-high. Some people will even still wait until bitcoin get to $100000. While some people will still wait for a higher price.
Huh? Don't know how you assumed those conclusions, are you trying to appear smart? sell all the time and completely happy with taking profits. I am not saying sell "all" of the what I am saying is secure some proffits. Sell off some at 50, buy some back in at 40, wait if it goes to 38 or 42 in 3-4 weeks but the rest... Wash rinse repeat. |
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I think now is a good time to take some profits and set it aside.
It's a given when all the internet bobble heads get excited is a good time to sell some. When anything rises fast it comes back down almost every time.
Even if it goes up some more you still secured a profit, get rid of the emotion. When it drops below your sell poing enough buy back in a bit at a time.
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There so much money in play it sound like a great way to end up dead
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I understand investing in Bitcoin directly, which isn't hard and is quite promising in the long run. I also get that some traditional investors who are used to dealing through big funds can find Bitcoin ETFs attractive. But can the op explain the benefits of buying FBTC? How is Fidelity's ETF more attractive than Bitcoin itself? Is it expected to somehow be more profitable? Do they offer interest rates or something like that? I just honestly don't get why one would put money into a big company's hands if one is comfortable investing into Bitcoin directly.
In the scope of a 401K: My employer matches my 401K contributions 100%, tax free money at this point. Additionally the 401K lowers my real tax exposure. When I retire I can draw that money at a much reduces tax exposure. Additionally I can rebalance within my 401k with ease and no tax. Outside the scope of 401K: It fit's nicely inside a one screen portfolio. Again I can rebalance inside without a tax event. Corporate: It's far more palatable to own ETF. Having custody of a private key within a company even with ulti sig is frightening. Imagine the temptation of a controller holding the 12 words to millions of dollars. Think vanish to El Salvador. In conclusion: It's never all or nothing. Hold some in your 401k, hold some in your portfolio and hold some in your cold wallet. Holding it all in one place is FOOLISH. Hold a couple cold wallets of different architectures in different places. And the biggest thing of all keep your mouth shut. |
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Re watching Mindhunters on Netfix at the moment. Last new series was the Queens Gambit.
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I work hard and smart, electricity is a non issue. Let it run and stay comfortable.
I have solar and run it so I don't send energy back to the grid during peak hours. Why? During peak time of usage they give me a small fraction of credit to whipping they are charging. Screw them
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Y'all acting like this just happened.
Prostitution is the first or second oldest profession in the world depending who is talking.
There is zero difference between a gold digger and a prostitute. Neither will render service without compensation.
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I lived amongst poor people and tried to employ them. (OK, US)
Failed miserably. Being poor is a mindset, they wanted to be that way. I would pay them and not see them for days. Most of the time they scored some drugs or it was just enough to get by, but never get ahead. They would score some weed and a new shiny bong but the power would be out and what food they had would spoil.
Put a new tire on the car to get to work or a crappy pawn shop guitar, the guitar.
In the end I had them bring me their bills and I would pay them first, meet me at the gas station before work and I would gas their cars Monday morning. I would pay them what was left over in cash, couldn't hold a bank account. They massively resented this.
Waste of time and money. They will never change.
I could argue. It seems you were just unlucky or dealing with a specific group of people (homeless? junkies?). I personally know at least a handful of guys whom I guess you could call poor, but who would be happy to work for just a fraction of an average pay. They would do literally anything if you offer them a job. And current economic downturn increases the number of such people day by day. No you can't. You haven't done anything your just dreaming something up. You have never hired anyone. If they were any good, they would not be working for pennies on the dollar. |
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I lived amongst poor people and tried to employ them. (OK, US)
Failed miserably. Being poor is a mindset, they wanted to be that way. I would pay them and not see them for days. Most of the time they scored some drugs or it was just enough to get by, but never get ahead. They would score some weed and a new shiny bong but the power would be out and what food they had would spoil.
Put a new tire on the car to get to work or a crappy pawn shop guitar, the guitar.
In the end I had them bring me their bills and I would pay them first, meet me at the gas station before work and I would gas their cars Monday morning. I would pay them what was left over in cash, couldn't hold a bank account. They massively resented this.
Waste of time and money. They will never change.
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I still don't understand how 99% of people I see around talking about FED rates consider that lowering of rates automatically means something bullish. Do these people not realize that everytime rates have been lowered in the past 24 years, with 100% accuracy, it just announced and underlying problem that ended in recession and thus a big correction of the SP500? (which would mean, a BTC correction almost guaranteed, unless unlikely huge uncorrelated price action)
Basically, if FED cut rates, it's bearish, since if there was nothing wrong, they wouldn't lower them. And if they keep them high, also bearish, because those in debt have bigger problems paying them, which lead to bankruptcies and unemployment as well as problems in society due mortgages not being able to be paid etc. So I don't see how a sort of a crash is avoided, but of course, this is not financial advice and timing on things can always be off. Me personally im keeping some cash on the side.
Well, the FED has to cut the interest rates very soon in the next few months and if they do not do that their banks will face enormous pressure and the situation may become even worse. To bail out the situation the US government may issue/print new dollars and this means bitcoin price will rise high as the inflation will increase and people will invest in bitcoin to find a hedge against inflation. I want those banks to fail and not be bailed out, I don't want anyone bailed out. The middle class is submerged and dieing. Cutting rates would put more nails in our coffins. F wall st and the fed, what about main st? |
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In my eyes especially now there isn't much bitcoin left to mine and it ALL is emotional response at this point. The post halving mania isn't technically based. I will happily take peoples money when it goes up and wait for it to come back in and buy lower. Thank you fomo's for the vacation money.
The ETF launch (big money comes slow) and the upcoming fed pivot or not to is bigger and closer target.
The ETF will have a strong to the right and up and by the time the post halving "bull" run may start we will all ready be in one. I strongly doubt both bulls (IF) would be additive.
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At 52, I enjoy being single... I prefer short term relationships, get the good before the luggage arrives
But my feet get cold in the winter time. Desperado
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fed rate cut in the USA does not have a big effect on the decline in the price of bitcoin. for example, the decline or increase in price is not too big. what is certain is that halving is waiting. after halving the price will certainly crawl up and surely also the big impact on the price will rise high and have a big effect on the price of bitcoin.
You are right it doesn't. You have it ass backwards. Use Google as your friend, you will see fed rate HIKES decrease BTC as well as markets, more expensive money. Rate cuts as well as anticipated rate cuts increase the markets, cheap money. Go get learned. |
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