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[lightfoot]

Anybody without 6 weeks of emergency fund probably doesn't belong in the gene pool.

I know that sounds fascist, but I didn't choose this world.

Seriously, anyone who has been deemed "non-essential" in this should think very seriously about that, who do you think they are going to choose to keep when the culling comes?

Since companies are people I agree 1000%: Any company without 6 weeks of reserves deserves to close immediately and be bought by people who are smarter.

[bitserve]

look

I don't have the big diesel truck, I don't have the fancy smartphone with the big data plan, I don't have the 50" TV with subs to all the streams.

I do have the emergency fund.

People made their own choices what they were going to use their money for.

The ones who are "out of touch" are the ones that thought they could keep spending at or beyond their means and think that nothing bad would happen.

If that category of retards is 80%, so be it.

Certainly some people are in that situation because of spending beyond their means. Most people on the other hand hustle just to cover basic expenses. Living in America ain't cheap.

Some people recently out of work here are already contemplating suicide out of shame for not being able to feed their families. Were they over-spenders? Hell no. They lived broke, and they will die broke. Just like millions of Americans.

Dismissing 80% of the American population as being frivolous in their spending habits is lazy.

So they lived broke all their life, yet they decided they could afford to have kids (which is probably one of the more expensive decisions a person can make)... and you say they are not over-spenders?

[nutildah]

So they lived broke all their life, yet they decided they could afford to have kids (which is probably one of the more expensive decisions a person can make)... and you say they are not over-spenders?

Nobody thinks they are going to be poor their entire lives.

This quote comes to mind:

“Socialism never took root in America because the poor see themselves not as an exploited proletariat but as temporarily embarrassed millionaires.” - Ronald Wright

Poor people have children because they want someone to take care of them when they get old -- doesn't seem like too much to ask.

Having said that, Catholic cultures in large do produce entirely too many offspring. They are afraid some of them are going to die along the way - and they usually do - but they still manage to overcompensate. Must be the whole anti-abortion, no condoms thing.

[JimboToronto]

I don't have the big diesel truck, I don't have the fancy smartphone with the big data plan, I don't have the 50" TV with subs to all the streams.

I do have the emergency fund.

People made their own choices what they were going to use their money for.

The ones who are "out of touch" are the ones that thought they could keep spending at or beyond their means and think that nothing bad would happen.

You forgot the biggie - debt.

Also, job dependency and premature consumerism.

People have been so brainwashed into getting a job, a car loan, a mortgage and a credit card that it's no wonder they have no savings.

Smart people save before spending.

[jojo69]

Dismissing 80% of the American population as being frivolous in their spending habits is lazy.

Well, I don't want to come off as lazy, so I will up the ante to 95%.

That should cover the folks buying boats and RVs instead of solar panels and farmland.

[Torque]

I don't have the big diesel truck, I don't have the fancy smartphone with the big data plan, I don't have the 50" TV with subs to all the streams.

I do have the emergency fund.

People made their own choices what they were going to use their money for.

The ones who are "out of touch" are the ones that thought they could keep spending at or beyond their means and think that nothing bad would happen.

You forgot the biggie - debt.

Also, job dependency and premature consumerism.

People have been so brainwashed into getting a job, a car loan, a mortgage and a credit card that it's no wonder they have no savings.

Smart people save before spending.

I know two PhD grads in their early 30's that married last year, and have a newborn baby this year.

They have virtually no savings and both have student loan debt up the whazzu. They both have expensive car loans. They just bought a house end of last year that's WAAYYY over their paygrade. (House is ~$400K, they barely put down 10% and they both have to work $70K jobs each just to afford it).

And guess what...the Einstein dad just got laid off.

This is how the "smart" people in America are planning their lives.  

[lightfoot]

Well, I don't want to come off as lazy, so I will up the ante to 95%.

That should cover the folks buying boats and RVs instead of solar panels and farmland.

One big problem in this country (and probably capitalism in general) is the tendency to get into a queen's race on specialization. See, having solar panels and batteries and farmland costs money, ties up capital that could otherwise be invested in spaceships, and consumes money in an ongoing manner to maintain things.

If you go 100% specialization you don't have to pay those costs for things you probably aren't going to use. And since everyone is trying to buy the same house and truck and whatnot, those who are more generalists have less money and wind up being outbid by the people who ride on the edge.

This was happening in 2006-2008: You couldn't buy a truck without every fucking lardass option on the planet. Because vendors made a lot of money on the options, and you with your 10,000 for a truck were sitting in a room with people who would borrow 30,000 for a truck. So as a manufacturer would you build me a 10k truck, or would you build a 30k truck to the rotting debtor next to me?

Especially if you could finance the loan and make that extra 8-10% interest? Hell finance to a complete rotter and get 15% interest. Even better, hide or sell off any losses in "tranches" and book even higher profits.

This is a case of "bad money driving out good". I could no longer get a new truck for the money I had, and I wasn't going to get on the queen's race treadmill to afford a fucking rolling palace that would break down anyway. So I bought used, and dealt with the maintenance myself. Most people who are 100% specialized can't do that.

How do you fix this? Well you could use a government to limit access to easy credit but that's EVIL! You could force companies to build basic trucks but that is SOCIALISM! You could have a Govt that caps vendors also doing financing but that's BAD!

You could just let people pay the price but it can take years and when it happens then you have starving people in the streets and a lot of bodies to dispose of. People flinch at that so you get these fucking bailouts.

Not saying you're wrong, I think everyone should prepare. But most people consider it a choice as opposed to an obligation (Mormons excluded) and that leads to people chasing goods with all their money.

[fillippone]

United States    101,508   Coronavirus Cases

150K by Monday night GMT

152K already...
SAD!

[bkbirge]

Ya gotta be personally interested or introduced to the concepts at a young age I think for those financial management habits to germinate. For me it was the former because my parents didn't really understand how to plan for the future though they were frugal by nature. They had no problem stressing the importance of having a savings account but investments were almost a foreign concept.

I think if you give people the tools/knowledge the earlier the better, it alleviates some of the stress of screwing up when you see the runway you have at age 15 compared to age 50. A lot of folks kind of have a basic idea of what they should do but they also think it's way out of reach so why bother? Obviously those of us on here don't have that mindset but I understand where it comes from.

This is a good book to start young teens or earlier out on money management concepts...
https://www.amazon.com/gp/product/1634139437

Obviously there won't be crypto in there but I'm sure a motivated parent or other relative can fill in those blanks when they are ready.

[nutildah]

For the record, before I call it a night, of course I think its a good idea to have savings. It's a smart plan that should be adopted by everybody. However, chastising people for not having savings helps nobody and changes nothing. The bailout has already been passed by congress, and most of it is going to the extremely wealthy anyway, who despite being extremely wealthy for some reason couldn't manage to save money for their billion dollar corporations.

Hopefully this situation will refresh everybody's memory as to why savings are important, but as homer said earlier, people tend to have a short term memory.

[Toxic2040]

For the record, before I call it a night, of course I think its a good idea to have savings. It's a smart plan that should be adopted by everybody. However, chastising people for not having savings helps nobody and changes nothing. The bailout has already been passed by congress, and most of it is going to the extremely wealthy anyway, who despite being extremely wealthy for some reason couldn't manage to save money for their billion dollar corporations.

Hopefully this situation will refresh everybody's memory as to why savings are bitcoin is important, but as homer said earlier, people tend to have a short term memory.

+1 WOsMerit


Edited slightly for clarity...hope you dont mind     Have a great evening.

[jojo69]

I don't know man, we treat "don't consume what you can't afford" like some kind of arcane fucking wisdom that has to be taught.

No.

This is BASIC reality, like fire is hot and water is wet.

fucks sake people

[JimboToronto]

I know two PhD grads in their early 30's that married last year, and have a newborn baby this year.

They have virtually no savings and both have student loan debt up the whazzu. They both have expensive car loans. They just bought a house end of last year that's WAAYYY over their paygrade. (House is ~$400K, they barely put down 10% and they both have to work $70K jobs each just to afford it).

And guess what...the Einstein dad just got laid off.

This is how the "smart" people in America are planning their lives.  

I forgot that when I was listing the the various brainwashing results... the diploma and associated student loan.

Glad I figured that one out early. I've officially only got a grade 12 education but I've learned a lot more by actually living than most diploma holders do in years of expensive "education".

I realized early (about grade 4 or 5) that teachers were just overpaid babysitters. I didn't trust what they told me after hearing them lie to my classmates. I saw that they worked from the teachers' version of the same textbooks they gave us. I figured I'd rather trust the half dozen professors who wrote the book than some bozo who read it and obviously didn't understand it.

Libraries are free and the internet merely costs a little extra quality control. Be your own school.

[Ibian]

Anybody without 6 weeks of emergency fund probably doesn't belong in the gene pool.

I know that sounds fascist, but I didn't choose this world.

You're talking about at least 80% of all American workers.

You didn't choose this world but you did choose to reveal being extraordinarily out of touch.

Anyway, right, bitcoin, almost forgot.

Nature doesn't give a shit how many losers there are. Things can always get worse, and whenever they do for whatever reason, the people closest to being darwin awards are going to die.

Not having backup supplies is just irresponsible, and you get what you fucking deserve. Doubly so if you have dependents.

[bkbirge]

I don't know man, we treat "don't consume what you can't afford" like some kind of arcane fucking wisdom that has to be taught.

No.

This is BASIC reality, like fire is hot and water is wet.

fucks sake people

There's knowing that and there's putting it into practice. When you consider so many adults can't even do a basic budget then yes the idea of savings has to be taught in my opinion, even if only to emphasize its importance in the face of a never ending onslaught of a culture that demands us to spend. Heck we even see it on here sometimes when people over invest and get themselves in trouble because they didn't follow the mantra of not to invest what they can't lose. Just my opinion.

[OutOfMemory]

And there's a valid point to Ibian's opinion: A knife is as deadly as a bullet, but it's lighter, quicker and without any need to aim or reload.
Don't even try to start a discussion over that with me. As soon as you might read this, you're already on my ignore.

https://www.youtube.com/watch?v=4DzcOCyHDqc

Classic  
Indiana Jones.
The black dressed dude has a problem: bringing a sword to a gunfight!

No, seriosly, with a gun you're in a bad position over a quick moving opponent. If you run from gunfire, do it like a rabbit, changing direction every second or two, never run in a straight line. Most gunmen are trained well for motionless targets. Like the tuareg swordman in the referenced movie scene.
Every hit with a knife, a stab, a stroke etc. will wound your opponent, most time badly. It hurts and if a main blood vessel is hit, you're likely done. Good bye.
Karate tricks against a man armed with a knife are hollywood dreams, nothing more. Active defense will get you injured. The best defense against a knife is running away AFAP. You can't lose a fight you don't engage in. That said, one should only fight when he has no other option than to kill. This is also thought in the army.

But this isn't Sword Observer, so let's end this topic here, i'm sure there is already a ton to read about on the interweb.

I missed the last dip with my last fiat money, because i was too optimistic for the price to get lower even more.
You win, JJG  

<insert meme>
...
...
You guys have gardeners?
You guys have gardens?

Better: I have a garden, mainly raised beds, and my wife is the gardener. I wish she was as dirty in bed as after gardening, but you can't have it all, you know 

[JimboToronto]

When you consider so many adults can't even do a basic budget then yes the idea of savings has to be taught in my opinion, even if only to emphasize its importance in the face of a never ending onslaught of a culture that demands us to spend.

Who's going to teach them? Schools? LOL.

People are trained by media propaganda, both the MSM and (anti-) "Social" Media.

Nobody's going to fork over the dineros to pay for "save don't spend" commercials. Sorry, retail "savings" products from banks don't count.

As for Insta-Face-Tube, stupidity and misinformation are so rampant that quality control is almost impossible. No sense trying to learn from the already brainwashed.

I guess it's inevitable. There will always be suckers, bread&circuses, and a peasant class, and there will always be a minority who can see beyond. Suckers may be born every minute but showmen much less often.

[Ibian]

"adults"

Most "adults" today are children in overgrown bodies.

Brain development is what matters, and we are living in a world both populated and run by people who are, literally, retarded. The npc meme exists for a reason. This can only continue as long as socialism does (yes your country is socialist, so is mine, there are no other kinds in the world today), and when it inevitably collapses so will they.

[bkbirge]

The lung problems are frightening...
https://news.yahoo.com/fit-healthy-33-old-recounts-183641193.html

‘’I am 33 years old, in great health, and I found myself suddenly in less than a day and a half in intensive care.’’

[Hyperjacked]

United States    101,508   Coronavirus Cases

150K by Monday night GMT

152K already...
SAD!

My home state of New York is the epicenter with 66,497 cases according to worldometers! This is no joke...
And this is just the tip of the iceberg for the United States imo
It happened because fools minimized the risk weeks ago!