Investing

[Deleterious]

Now fine them for the UI.  

[Screwball]

Maybe our tax laws are too complicated.

[gehringer_2]

47 minutes ago, Screwball said:

Maybe our tax laws are too complicated.

Of course you know who has a vested interest in tax law being complex? The Lawyers. And of course we know who writes the tax laws - The LAWYERS!

It's the perfect circle impenetrable circle. A system incapable of self correction.

Edited Saturday at 01:09 AM by gehringer_2

[1776]

The Roth IRA and penalties associated with them were being discussed somewhere around here but I can’t find it now. 

https://www.investopedia.com/ask/answers/05/waitingperiodroth.asp#:~:text=The five-year rule applies in three situations%3A if you,withdrawals and a 10% penalty.

I don’t believe all the penalties were being noted in the other thread, particularly withdrawals in less than five years of opening the account. Apologies if I’m not remembering correctly. 

[Screwball]

Investopedia is a great site IMO.

Investing in general has become way to complicated, at the expense of many.

[Deleterious]

The president elect of the United States of America has launched a meme coin.

[Screwball]

1 hour ago, Deleterious said:

The president elect of the United States of America has launched a meme coin.

I haven't followed this but I did see some really wild chart porn on how this traded. I can't believe people are this stupid.

[Deleterious]

Somebody made some money on the new Trump coin.

[Deleterious]

Trump meme coin is cratering.  Why you ask?  Because the first lady just released her own meme coin and that is taking the liquidity away from Trumps coin.

I'm going to go kill myself for even discussing this.  

[Screwball]

Maybe there is too much money floating around that didn't trickle down to us serfs and all these rich ****s get a big boner playing this form of slot machine while laughing at how gullible the masses really are.

[Edman85]

2 hours ago, Deleterious said:

Trump meme coin is cratering.  Why you ask?  Because the first lady just released her own meme coin and that is taking the liquidity away from Trumps coin.

I'm going to go kill myself for even discussing this.  

Nobody's heard from the Hawk Tuah girl for a couple of months after her similar pump+dump.

[Screwball]

OK, so I have a dumb question here. These coin things we are watching...What exchange do they trade on? I'm guessing my broker isn't hooked up, nor my charts. But I do see charts, as in chart porn. What is the exchange?  Is there an equivalent of the SEC, or FINRA, or....?

I think this is all nuts, but I'm old, stupid, and into short term bonds that are safe. 🙂

[Deleterious]

1 hour ago, Screwball said:

OK, so I have a dumb question here. These coin things we are watching...What exchange do they trade on? I'm guessing my broker isn't hooked up, nor my charts. But I do see charts, as in chart porn. What is the exchange?  Is there an equivalent of the SEC, or FINRA, or....?

I think this is all nuts, but I'm old, stupid, and into short term bonds that are safe. 🙂

Kraken is a popular place to trade this stuff.

https://pro.kraken.com/app/trade/trump-usd

There are zero regulations.  Hell, some little kid made a meme coin not long ago.

https://www.theverge.com/2024/11/22/24303149/teen-streamer-dumped-quant-meme-coin-doxxed

Young people almost look up and worship these scammers a bit.  The Paul brothers (One fought Mike Tyson) have been accused of multiple rug pulls and people still love them.  Odds are they were involved in the Hawk Tuah girls rug pull since her podcast was on the podcast network the Paul brothers own.  But they are still insanely popular on social media.  

[Screwball]

I'm afraid to click on that but I believe you. Nuts, just fricken nuts. As long as you can move money there is a market, no matter how stupid it may be. And someone gets ****ed. Wow! That never happens...

I can't believe what I see today. I'm glad I'm old.

[Deleterious]

 

[Screwball]

Markets were closed today but futures opened at 6. Looks pretty tame, but a blip around 7:49. Nothing to see here. The market will not crash tomorrow.

[Deleterious]

Curious to see how the tariffs play out.  Other than that I don't expect much different with the new boss.

[Tigeraholic1]

1 minute ago, Deleterious said:

Curious to see how the tariffs play out.  Other than that I don't expect much different with the new boss.

Same.

[gehringer_2]

37 minutes ago, Deleterious said:

Curious to see how the tariffs play out.  Other than that I don't expect much different with the new boss.

Disclaimer: - this post contains political material - as it directly relates in an unavoidable way to the topic. No advocacy will be involved.

So here is how I read what is going to happen with tariffs. Trump is going to prefer to keep the threat of unimplemented tariffs constantly on the front burner as his 'negotiating leverage'. Until that strategy runs its course to either success or futility, or wherever it ends, I don't expect to see much but symbolic tariffs actually put in place.

Edited 10 hours ago by gehringer_2

[Screwball]

56 minutes ago, Screwball said:

Markets were closed today but futures opened at 6. Looks pretty tame, but a blip around 7:49. Nothing to see here. The market will not crash tomorrow.

I forgot the chart porn;

 

[Screwball]

Isn't the tariff thing about bringing jobs back here?

Tariffs are are inflationary for the American people, bottom line. It's about the message.

They use Tariffs as an issue to help sell bringing manufacturing back here. Easy sale. I watched (and helped) it go global since 1994 and it will take many years to bring it back, even if that is possible at all.

Add robotics and AI to take more jobs and WTF are we going to do?

[gehringer_2]

If there were a set a education, tax and investment policies to go with the tariffs, along with tax law reforms to make dismantling of industrial production companies less profitable by guys like Romney, then maybe selected tariffs would motivate re-shoring, but tariffs alone lead to fat, sloppy, non-productive concerns like the 70’s US auto industry. If you want to build production that can compete and actually provide US consumers with world class stuff attack the cost side as well as the price side. Improve the manufacturing environment too.  The other thing that I think would make more sense than blanket tariffs would import excises based on pollution abatement or CO2 burden. It is unfair if we are buying stuff from overseas in cases where it’s only because the off-shores are operating in ways US producers would not be allowed to. That is one area where I don’t mind tariffs or excises. That’s usually given up as too hard to implement- good task for the AI guys to work on. 

[Screwball]

There is no good task for the AI guys to work on.

[CMRivdogs]

41 minutes ago, Screwball said:

 

Add robotics and AI to take more jobs and WTF are we going to do?

I had a similar conversation with the spouse this afternoon. You and I (and a few others here) are around the same age. We grew up in an era where many of our parents made a decent wage in retail. That's gone. Same with factory work (my very young day were in Western Pa.  remember the steel mills before they moved to places like Indiana, (where are they now)?

My son is a civil engineer, most of his career he's worked with the variations of CAD. With AI what does his career look like? 
What are the new careers in the next 10 years or so? 

[gehringer_2]

11 minutes ago, CMRivdogs said:

I had a similar conversation with the spouse this afternoon. You and I (and a few others here) are around the same age. We grew up in an era where many of our parents made a decent wage in retail. That's gone. Same with factory work (my very young day were in Western Pa.  remember the steel mills before they moved to places like Indiana, (where are they now)?

My son is a civil engineer, most of his career he's worked with the variations of CAD. With AI what does his career look like? 
What are the new careers in the next 10 years or so? 

the interesting question to think about is that unless the robots start demanding bank accounts of their own, AI and robotics will be increasing the productive capacity of the society - if the stuff works it will be mean that like every other period of innovation, capital will be applied to increase the overall net wealth generating capacity of the economy. Once you look at it in those terms, the issue is just as much how the political system distributes the rights to that wealth as what jobs everyone ends up doing.