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   Joe (joe_0237@fosstodon.org)'s status on Saturday, 30-Sep-2023 22:22:13 JST Joe

   Some corrections to money misconceptions stemming from poor understanding of mathematics.

   The stock market is zero sum, every dollar earned by the seller is lost by the buyer.

   If saving is constant, increased government spending and increased taxes do not effect the gross income after taxes. Money spent is not destroyed, it pays workers.

   You are never too poor to save money for emergencies, it saves you money.

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     Joe (joe_0237@fosstodon.org)'s status on Saturday, 30-Sep-2023 22:22:26 JST Joe

     in reply to

     The odds are against you in the lottery, if this were not the case the lottery would loose money. The more you buy the worse you loose.

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     翠星石 (suiseiseki@freesoftwareextremist.com)'s status on Saturday, 30-Sep-2023 22:27:44 JST 翠星石

     in reply to

     • Michael Kearns
     @Joe_0237 >if this were not the case the lottery would loose money. The more you buy the worse you loose.
     Indeed.
     
     I'd just interject for a moment, the correct spelling is "lose" - loose is where something isn't screwed tightly for example.
     
     @mobiuscog
     >having one ticket is still mathematically more likely to win than having no ticket.
     Maybe, but having one ticket is so close to 0 that it's hard to tell the difference.
     
     The only reason why anyone wins a lottery is the forcing effect that someone usually needs to win (in certain lotteries where there doesn't have to be a winner, it's fairly common for everyone to lose the jackpot multiple times until finally someone wins).
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     Michael Kearns (mobiuscog@fosstodon.org)'s status on Saturday, 30-Sep-2023 22:27:45 JST Michael Kearns

     in reply to

     @Joe_0237 having one ticket is still mathematically more likely to win than having no ticket.

     There's risk/reward in everything you do, and sometimes you have to take a chance, no matter how small, on the dream.

     #hope