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1. Embed this notice
   kaia (kaia@brotka.st)'s status on Wednesday, 22-May-2024 15:09:26 JST kaia
   you are not really poor. you just can't afford things
   • Haelwenn /элвэн/ :triskell: likes this.
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     Piggo :verified_horse: (piggo@piggo.space)'s status on Wednesday, 22-May-2024 15:14:46 JST Piggo :verified_horse:

     in reply to
     @kaia Americans with their culture of debt :psyduck:
     kaia likes this.
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     kaia (kaia@brotka.st)'s status on Wednesday, 22-May-2024 15:15:56 JST kaia

     in reply to

     • Piggo :verified_horse:
     @piggo podcast about "building credits" was just some dude explaining how he got increasingly more credit cards and debt, which improved his credit score, so he could go deeper in debt :floofWoozy_256:
     Haelwenn /элвэн/ :triskell: likes this.
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     「セル」cell (سل) (cell@pl.ebin.zone)'s status on Wednesday, 22-May-2024 15:18:27 JST 「セル」cell (سل)

     in reply to

     • Piggo :verified_horse:
     @kaia @piggo i feel like some financial advice doesn’t travel across borders pretty well - credit scores for instance aren’t as applicable outside of the US and UK for instance…
     kaia likes this.
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     sirsegv :heart_clockwork: (squidink7@misskey.fryer.net.au)'s status on Wednesday, 22-May-2024 15:21:45 JST sirsegv :heart_clockwork:

     in reply to

     @kaia@brotka.st

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     bartholin (bartholin@fops.cloud)'s status on Wednesday, 22-May-2024 16:59:21 JST bartholin

     in reply to
     @kaia The data is fine, the problem is you not using the guillotine
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     Komnene (komnene@cawfee.club)'s status on Wednesday, 22-May-2024 18:00:34 JST Komnene

     in reply to
     @kaia every consumer gets the economy they deserve
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     Aroop Roelofs :verified: (finlaydag33k@social.linux.pizza)'s status on Wednesday, 22-May-2024 20:06:43 JST Aroop Roelofs :verified:

     in reply to

     • m0xEE
     • Komnene

     @m0xee

     A bunch of the expensive things people buy (cars, smartphones, laptops/gaming PCs etc.), lose value much faster than the money it was bought with.
     Assuming you paid it off in one go and didn't get a loan or something (which would make it even worse value).

     @Komnene @kaia

     kaia likes this.
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     m0xEE (m0xee@social.librem.one)'s status on Wednesday, 22-May-2024 20:06:44 JST m0xEE

     in reply to

     • Komnene

     @Komnene @kaia
     The question in the subtitle is stupid on so many levels 🤦
     Like yeah, when your money is losing value and you can't save, that's a very reasonable thing to do — convert that money, which is losing value, into something that might be losing its value less. And as most people can't really "diversify their investments", that's what they do — they start buying things.
     Can't believe that this is The Atlantic 😩

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     m0xEE (m0xee@social.librem.one)'s status on Wednesday, 22-May-2024 20:18:30 JST m0xEE

     in reply to

     • Aroop Roelofs :verified:
     • Komnene

     @finlaydag33k
     BTW as a Russian — I've seen a couple of cases when even getting a loan and spending it on total shit like shiny new computer or phone wasn't such a bad idea, because it was literally about never seeing interest rates like that ever again 😂
     But I don't think that Americans will ever experience something like that in their life.
     Here people buy foreign currencies like US Dollars or Euros when they foresee high inflation risks — basically it's the same as buying TVs.
     @Komnene @kaia

     kaia likes this.
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     m0xEE (m0xee@social.librem.one)'s status on Wednesday, 22-May-2024 20:18:31 JST m0xEE

     in reply to

     • Aroop Roelofs :verified:
     • Komnene

     @finlaydag33k
     Often true and yet, it's something they can use — unlike money in a bank that they can spend on less things. They get a new car not with intent of selling it for more, but because in a year they might not be able to afford a better car and often even the same one — so why wait?
     The question wasn't whether it's the optimal investment strategy, but why they do this — that's why. Inflation makes people give up their long-term plans 🤷
     @Komnene @kaia

   • Embed this notice
     Komnene (komnene@cawfee.club)'s status on Wednesday, 22-May-2024 20:36:14 JST Komnene

     in reply to

     • m0xEE
     • Aroop Roelofs :verified:
     @m0xee @kaia @finlaydag33k most people keep buying things because ever-increasing consumption is inherent to their identity and they don't understand their own interests so they don't address inflation with for example political action or at least a change in purchasing habits that matters
     
     I don't know what the author's point is because I didn't care enough to get through the paywall and my expectations weren't very high, I just liked the title
     kaia likes this.
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     m0xEE (m0xee@social.librem.one)'s status on Wednesday, 22-May-2024 21:07:11 JST m0xEE

     in reply to

     • Aroop Roelofs :verified:
     • Komnene

     @Komnene
     Yeah, consumerism is also a problem — most would spend their money not on something that would enable them to earn more and not even on something that would increase their quality of life, but on something completely useless.
     But it's a different problem — same as perceived inflation that they often refer to in these articles.
     And yet high inflation is usually a quite clear message from central banks: it's time to spend, not to save.

     @kaia @finlaydag33k

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     m0xEE (m0xee@social.librem.one)'s status on Wednesday, 22-May-2024 21:07:11 JST m0xEE

     in reply to

     • Aroop Roelofs :verified:
     • Komnene

     @Komnene
     If you ask me, what they are attempting to do with articles like that is to send mixed messages, so some (businesses) get the message right and start investing, and others (consumers and people who work day to day jobs) don't: "Just trust your monetary and financial institutions, are you stupid?!"
     Nothing good will come out of this IMO.
     I might be wrong and this article could be about something else — but I won't hold my hopes high, not with a subtitle like that.

     @kaia @finlaydag33k

     kaia likes this.
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     mothball蛾玉 (西洋巣酸の木) (moth_ball@shitposter.world)'s status on Wednesday, 22-May-2024 23:31:33 JST mothball蛾玉 (西洋巣酸の木)

     in reply to

     • 「セル」cell (سل)
     • Piggo :verified_horse:
     @cell @kaia @piggo best advice I've heard is to never sell unless you really need the money
     kaia likes this.
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     Dad (noyoushutthefuckupdad@shitposter.world)'s status on Thursday, 23-May-2024 01:10:29 JST Dad

     in reply to

     • histoire ??☢️??
     • bartholin
     • mangeurdenuage :gnu: :trisquel: :gondola_head: 🌿 :abeshinzo: :ignucius:
     • That Would Be Telling
     @histoire @kaia @bartholin @ThatWouldBeTelling @mangeurdenuage yes, he was.
     Christmas Sun likes this.
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     histoire ??☢️?? (histoire@pleroma.skyshanty.xyz)'s status on Thursday, 23-May-2024 01:10:32 JST histoire ??☢️??

     in reply to

     • Dad
     • bartholin
     • mangeurdenuage :gnu: :trisquel: :gondola_head: 🌿 :abeshinzo: :ignucius:
     • That Would Be Telling
     @noyoushutthefuckupdad @kaia @bartholin @ThatWouldBeTelling @mangeurdenuage
     
     Nixon is a lot like trump. Which is to say, regardless of how you feel about his politics, the man is hilarious to listen to
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     Dad (noyoushutthefuckupdad@shitposter.world)'s status on Thursday, 23-May-2024 01:10:33 JST Dad

     in reply to

     • bartholin
     • mangeurdenuage :gnu: :trisquel: :gondola_head: 🌿 :abeshinzo: :ignucius:
     • That Would Be Telling
     @ThatWouldBeTelling @mangeurdenuage @bartholin @kaia I remember reading 1980s comics from Matt Groening where he showed severe Nixon Derangement Syndrome. he just wouldn't shut up about how much he hated Richard Nixon.
   • Embed this notice
     That Would Be Telling (thatwouldbetelling@shitposter.world)'s status on Thursday, 23-May-2024 01:10:37 JST That Would Be Telling

     in reply to

     • bartholin
     • mangeurdenuage :gnu: :trisquel: :gondola_head: 🌿 :abeshinzo: :ignucius:

     @mangeurdenuage @bartholin @kaia Very lame when they go to such effort to collect data but don't provide any historical background.

     TL;DR: https://en.wikipedia.org/wiki/Nixon_shock including a return to much greater government control over the economy (which "Biden" is now speedrunning).

     But he inherited a terrible hand, see for example the 1960s demonetization of silver.

     And Watergate was used as an excuse for many bad things from ending a president's ability to just not spend money and removing many prior constraints on appropriations. Today all internal constraints are gone with the complicity of the GOPe.

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     mangeurdenuage :gnu: :trisquel: :gondola_head: 🌿 :abeshinzo: :ignucius: (mangeurdenuage@shitposter.world)'s status on Thursday, 23-May-2024 01:10:38 JST mangeurdenuage :gnu: :trisquel: :gondola_head: 🌿 :abeshinzo: :ignucius:

     in reply to

     • bartholin
     @bartholin @kaia https://wtfhappenedin1971.com/