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[EuchreJack]

A brief review shows Tesla's stock price is reacting positive to this news.

I don't think this is actually new news, so those who acted on it first probably made decent money.

[EuchreJack]

Global inequality decreasing?
https://www.foreignaffairs.com/world/great-convergence-equality-branko-milanovic

[EuchreJack]

It's official: The Government advises people not to pay their bills:
https://www.cbsnews.com/amp/pittsburgh/news/u-s-postal-service-warning-checks-mail/

[McTraveller]

Aw that is so not what that says.  Would have been more funny if it is what they were saying though.

Spoiler (click to show/hide)

It really is just they warn against sending checks in the mail, because they can get stolen and potentially used for fraud.

[EuchreJack]

https://fortune.com/2023/06/22/citi-workers-flouting-return-to-office-mandate-to-face-consequences/amp/

Only one appropriate response:
https://youtu.be/QP3zRBtgvJo

[Lidku]

Is there any point of saving as a 22 yr old in 2023? Everything is rising, I dropped out of college a long time ago, and I literally only get by taking care of my grandma through an agency. I've worked many shitty retail jobs, but they've always predictably fallen through.

I failed my driving test because the driving school I took was incompetent in scheduling me, which basically wasted a ton of my money. I used to have at least 5k-6k in my bank account, but a girl I knew from high school way back scammed me. After I cut her off she's been homeless (apparently she was homeless even during we were corresponding, but I didn't know that way after).

Now because of that incident in me being an (admittedly) stupid simp, I only hover around 1k at all times due to expenses (food, various other things, paying "rent" to my mom even though we live in a house).

I just dunno anymore and I don't even know why I'm even venting here on Bay12 at 1'o clock in the morning of all things... lol

[EuchreJack]

You should be investing instead of saving.

$1000 is enough to start an investment account, and you can put in usually a minimum of $25 a month.

Stocks, unlike cash, generally go up with inflation, so you're not actually losing (as much) money like putting it in the bank.  But when I say "generally", I mean "over several years".  Trying to time the market generally means losing money, hence why you put in the same amount every month.

Uh, people from high school generally suck.  You are better off socializing with people that you don't have that shared experience.

If you have "some college", then there are probably lots of jobs that you could do.

You can always take your driving test again.  I passed on my second try, at around your age.  The driving school only helped me like 75% of the way. After that, I had to just drive with licensed relatives for a while.  I also was a lousy driver in my first few years even with the license.

The two biggest opportunities in the job market are:
1) Replacing the people that refuse to return to the offices
2) Working from home, which you might be able to do in addition to taking care of your grandma through an agency. (just don't tell anyone)

[Lidku]

Thanks for the advice Jack. Though, I don't know about mentioning "some college" at all, since I only went there for about 1 month. lol

Stocks? I might go into that when I'm back in the 3k-4k ballpark range, but I generally don't want to mess with it since I know so little about it.

And my driving skills from a years ago (because I started around 2021, if I remember correctly) has basically become non-existent I believe, since I haven't driven ever since I failed the first time. There is a second driving school in the place where I live, but I've been burnt out from these driving schools from the way I was treated last time (650~ dollars down the drain, around the time after I cut-off that scam girl from high school.. so the waste of the 650 for all these courses that were irregularly scheduled, were damaging to me).

I live near NYC, so office jobs MAYBE in the picture for me.. but without a car, I wouldn't be able to reliably commute to it.

[McTraveller]

For stocks - don't try to pick individual ones unless you just enjoy it.  Just pick an index fund or target retirement date fund and don't stress.

Other topic: why is the stock market so inconsistent? "Hey look, 500k new jobs in June, all these people now have incomes and will be able to buy stuff companies make! Oh, but that means interest rates will stay higher longer... so let's sell our stocks!"

I can understand the math of economics, but I really can't understand the mass psychology...

[EuchreJack]

The stock market is rigged, just accept it and move on. 

[EuchreJack]

https://amp.cnn.com/cnn/2023/07/18/business/recession-prepare-savings/index.html
WTF?!

Yes, I know the "bank analysts" are full-of-shit hypemen, but can't they even maintain internal consistency?

[McTraveller]

I read that twice - what's the inconsistency?  I mean it's early in the day for me, but I'm not seeing it... I'm legitimately curious as to what you mean.

[EuchreJack]

It's probably more in what they seem to be implying not matching their facts. But yes, the inconsistencies vanish upon a more careful reread.

Have a much better article, obviously not written by Americans: https://markets.businessinsider.com/news/stocks/10-reasons-recession-wall-street-predicted-to-death-never-happened-2023-7?amp

[McTraveller]

Interesting - although I have to say, it's really amusing how they simply just state these bullet points without any kind of real rationale backing them up. I mean it's just empty statements like "employment is still strong" or "credit really isn't that tight."

I mean the article reads more to me like rationalization as in "these are possible reasons," rather than evidence that those are indeed the reasons.  Especially since they listed so many - I mean yes they each contributed to some effect, but it's to the point of being "true but not useful." I mean there's no insight or anything there.

I mean they could have added reason #11, "the predictions of recession were based on speculation and fear, not data..."

[EuchreJack]

The best path to wealth:
https://www.forbes.com/sites/traversmark/2023/07/20/the-secret-world-of-luxury-dating-5-research-backed-insights-into-wooing-the-wealthy/amp/
The article is a bit biased, but contains useful info for the crafty.