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News & General Discussion => General Discussion => Topic started by: SoldierofFortune on December 19, 2018, 12:31:09 AM

Title: The chance of being rich if your father is not rich...
Post by: SoldierofFortune on December 19, 2018, 12:31:09 AM
in these times, it is close to impossibility, i think...

when i say rich, i don't mean ultra-rich...
just a few millions maybe...
Title: Re: The chance of being rich if your father is not rich...
Post by: Baruch on December 19, 2018, 03:03:29 AM
Quote from: SoldierofFortune on December 19, 2018, 12:31:09 AM
in these times, it is close to impossibility, i think...

when i say rich, i don't mean ultra-rich...
just a few millions maybe...

Of course.  Very few hit the jackpot ... and if they do, it is probably because they are a front company for the CIA (see Facebook).
Title: Re: The chance of being rich if your father is not rich...
Post by: Gawdzilla Sama on December 19, 2018, 06:55:30 AM
Megamillions, Powerball, all the proven ways to get rich.
Title: Re: The chance of being rich if your father is not rich...
Post by: Baruch on December 19, 2018, 07:30:37 AM
Quote from: Gawdzilla Sama on December 19, 2018, 06:55:30 AM
Megamillions, Powerball, all the proven ways to get rich.

Selling secrets to Mata Hari is more fun.
Title: Re: The chance of being rich if your father is not rich...
Post by: Gawdzilla Sama on December 19, 2018, 08:55:57 AM
Joseph Patrick Kennedy was an example of getting rich if your father wasn't.
Title: Re: The chance of being rich if your father is not rich...
Post by: Baruch on December 19, 2018, 12:54:03 PM
Quote from: Gawdzilla Sama on December 19, 2018, 08:55:57 AM
Joseph Patrick Kennedy was an example of getting rich if your father wasn't.

Irish mafia.  Bootlegging should be made legal!
Title: Re: The chance of being rich if your father is not rich...
Post by: Unbeliever on December 19, 2018, 01:28:03 PM
It's natural selection - survival of the richest.
Title: Re: The chance of being rich if your father is not rich...
Post by: Gawdzilla Sama on December 19, 2018, 05:15:01 PM
"The law, in its majesty, forbids the rich as well as the poor from begging, stealing and sleeping under bridges."
Title: Re: The chance of being rich if your father is not rich...
Post by: aitm on December 20, 2018, 05:15:33 PM
Quote from: Gawdzilla Sama on December 19, 2018, 06:55:30 AM
Megamillions, Powerball, all the proven ways to get rich.
yeah..thats my retirement plan.
Title: Re: The chance of being rich if your father is not rich...
Post by: Unbeliever on December 20, 2018, 05:54:36 PM
Quote from: Gawdzilla Sama on December 19, 2018, 05:15:01 PM
"The law, in its majesty, forbids the rich as well as the poor from begging, stealing and sleeping under bridges."
I, then, am a law breaker, since I sleep under a bridge. Does that make me a troll?

Oh, well...

;-)
Title: Re: The chance of being rich if your father is not rich...
Post by: Baruch on December 20, 2018, 11:56:09 PM
Quote from: Unbeliever on December 20, 2018, 05:54:36 PM
I, then, am a law breaker, since I sleep under a bridge. Does that make me a troll?

Oh, well...

;-)

You eat little children who cross your bridge.  So I rhetorically ask ... do they taste good, are they tender ;-(

Yes, being a vagrant is against the law.  Shouldn't be however!!
Title: Re: The chance of being rich if your father is not rich...
Post by: Cavebear on December 21, 2018, 06:47:32 AM
The chances of you being rich if your father was not are pretty slimm.  I once read that the best 2 ways of becoming wealthy were if you (legally) stole money or if you inherited it and that inheriting it was the better option.

Some people are geniuses and earn it via Microsoft and Apple.  Some people get moderate wealth by saving and investing.  My Dad was not a Robber Baron or the son of one, so I had to save and invest intelligently.

Guess who got out of the stock market before Trump started ruining the economy?
Title: Re: The chance of being rich if your father is not rich...
Post by: Baruch on December 21, 2018, 07:06:22 AM
Quote from: Cavebear on December 21, 2018, 06:47:32 AM
The chances of you being rich if your father was not are pretty slimm.  I once read that the best 2 ways of becoming wealthy were if you (legally) stole money or if you inherited it and that inheriting it was the better option.

Some people are geniuses and earn it via Microsoft and Apple.  Some people get moderate wealth by saving and investing.  My Dad was not a Robber Baron or the son of one, so I had to save and invest intelligently.

Guess who got out of the stock market before Trump started ruining the economy?

You didn't waste your money on marriage and children (not that there is anything wrong with not marrying or parenting).  I would be much materially richer, with different life choices.  I am happy with the ones I made (which involve disaster and other pains).
Title: Re: The chance of being rich if your father is not rich...
Post by: Gawdzilla Sama on December 21, 2018, 07:23:01 AM
Quote from: Cavebear on December 21, 2018, 06:47:32 AM
Guess who got out of the stock market before Trump started ruining the economy?
Pence?

Melania?
Title: Re: The chance of being rich if your father is not rich...
Post by: Cavebear on December 21, 2018, 07:27:06 AM
Quote from: Baruch on December 21, 2018, 07:06:22 AM
You didn't waste your money on marriage and children (not that there is anything wrong with not marrying or parenting).  I would be much materially richer, with different life choices.  I am happy with the ones I made (which involve disaster and other pains).

I fully understand that.  I was just saying that what I could save went well.  Quick story.  When I was about 15, I had saved about $60 and wanted to invest it.  My Dad's Broker kindly agreed to manage my small fund (I'm sure he spotted a future customer). 

I wanted Sperry Rand at $5 per share.  I thought computers were a good investment.  Dad liked old established companies.  Studebaker was also selling at $5 per share.  He forced me into Studebaker.  In a couple years, it went to $13.  Hurray!

Sperry Rand went to $56.

I never forgot that...
Title: Re: The chance of being rich if your father is not rich...
Post by: Cavebear on December 21, 2018, 07:28:14 AM
Quote from: Gawdzilla Sama on December 21, 2018, 07:23:01 AM
Pence?

Melania?

Not sure about Pence.  But I bet Melania did...
Title: Re: The chance of being rich if your father is not rich...
Post by: Baruch on December 21, 2018, 01:00:25 PM
Quote from: Cavebear on December 21, 2018, 07:28:14 AM
Not sure about Pence.  But I bet Melania did...

People have been bailing massively the last few months.  I didn't realize that millions of people were Trump relatives.

For me, I am staying in, going over Niagra Falls in a barrel.  See you at the botto.....om!
Title: Re: The chance of being rich if your father is not rich...
Post by: Unbeliever on December 21, 2018, 02:07:14 PM
Are we tired of winning yet?
Title: Re: The chance of being rich if your father is not rich...
Post by: Cavebear on December 21, 2018, 02:09:16 PM
Quote from: Baruch on December 21, 2018, 01:00:25 PM
People have been bailing massively the last few months.  I didn't realize that millions of people were Trump relatives.

For me, I am staying in, going over Niagra Falls in a barrel.  See you at the botto.....om!

Make sure all the barrel nails point in, LOL!
Title: Re: The chance of being rich if your father is not rich...
Post by: Cavebear on December 21, 2018, 02:10:58 PM
Quote from: Unbeliever on December 21, 2018, 02:07:14 PM
Are we tired of winning yet?

If Trump depended on winning to keep breathing, he would be the Blue Orange Guy...  LOL!
Title: Re: The chance of being rich if your father is not rich...
Post by: Baruch on December 21, 2018, 07:55:13 PM
Quote from: Unbeliever on December 21, 2018, 02:07:14 PM
Are we tired of winning yet?

Elections ... half win, half lose.  Just stop paying attention to the carnival barker.
Title: Re: The chance of being rich if your father is not rich...
Post by: Baruch on December 21, 2018, 07:56:55 PM
Quote from: Cavebear on December 21, 2018, 02:09:16 PM
Make sure all the barrel nails point in, LOL!

If you are referring to the Carthaginian execution of Roman general Marcus Atilius Regulus ... then I am impressed.  Otherwise, how do you know I am not a masochist or acupuncturist?  But I do think you are a sadist perhaps?
Title: Re: The chance of being rich if your father is not rich...
Post by: Unbeliever on December 23, 2018, 08:03:35 PM


QuoteCapitalists are fudging the numbers about global prosperity, the US economy is getting wrecked by capitalism, and liberals bargain with fascists to suppress the working class.



https://www.youtube.com/watch?v=7zDpMo-yE2A
Title: Re: The chance of being rich if your father is not rich...
Post by: Baruch on December 24, 2018, 01:46:47 AM
You can't get more poor than penniless.  All Americans are penniless, because Americans use a cent, misnamed a penny.  Only the British use a penny (though she isn't what she used to be).

Financial scams are ... scams.  A great many are legal, only a few are sanctioned by law, let alone in actual practice.  White collar crime is ... the true White privilege (not skin color, but class).

It was of temporary advantage, while the Soviet Union threatened, to seem like in common cause with the common man.  But communism never ended, it s timeless.
Title: Re: The chance of being rich if your father is not rich...
Post by: Unbeliever on December 24, 2018, 01:15:35 PM
Communism never began, only a tyranny that was called communism.
Title: Re: The chance of being rich if your father is not rich...
Post by: Shiranu on December 24, 2018, 01:27:14 PM
QuoteGuess who got out of the stock market before Trump started ruining the economy?

Smart choice. My mom left her retirement in stocks, and over the last week alone has lost about $2000.
Title: Re: The chance of being rich if your father is not rich...
Post by: GSOgymrat on December 24, 2018, 01:49:19 PM
Http://www-ibtimes-com.cdn.ampproject.org/c/s/www.ibtimes.com/trump-economy-how-much-has-stock-market-gone-under-president-2735369?amp=1

... Linking the stock market to White House economic policy may prompt the question: How has the stock market performed under the president? A look at the numbers reveals modest gains.

On Jan. 20, 2017, the day Trump took office, the S&P 500 closed at 2,271.31. The index most recently closed at 2,632.56, a gain of 14.73 percent.

The Dow Jones Industrial Average saw a slightly stronger gain, closing at 19,795.06 on Jan. 20, 2017, and closed this week (11/24/18) at 24,285.95, a gain of 20.38 percent.

The Nasdaq has seen the sharpest gain. It closed at 5,555.33 on Jan. 20, 2017, and is now at 6,938.98, a gain of 22.14 percent.

But how the market performs during an administration is not really something a president should discuss. As economist Jason Furman noted in a February report in Politico, presidents "have a limited and very indirect effect on stock markets and even on the economy more broadly."

"Using day-to-day stock market movements as a proxy for expressing this confidence is ... a financial, economic and likely political mistake," Furman wrote.
Title: Re: The chance of being rich if your father is not rich...
Post by: Baruch on December 24, 2018, 04:15:50 PM
Quote from: Unbeliever on December 24, 2018, 01:15:35 PM
Communism never began, only a tyranny that was called communism.

Name it what you like.  Tyranny is real, and is done by ... everyone.  It is a matter of degree.  Real zero tolerance requires the extermination of the human race .. which is rather ironic, if you think about it.
Title: Re: The chance of being rich if your father is not rich...
Post by: Baruch on December 24, 2018, 04:17:27 PM
Quote from: Shiranu on December 24, 2018, 01:27:14 PM
Smart choice. My mom left her retirement in stocks, and over the last week alone has lost about $2000.

Diversify (if you have any assets)
Change it as necessary (which means, don't stay pat over decades)
One of the saddest retirement stories, is that of loyal employees dumping all their savings into company stock, and riding it down until final insolvency.

So is this a vast Trump conspiracy against your mother?  Or is it the Resistance who wants to end civilization while Trump is in office?  Or perhaps Putin and Xi have super powers?  aka Commie Avengers?
Title: Re: The chance of being rich if your father is not rich...
Post by: Cavebear on December 25, 2018, 07:58:04 PM
Quote from: Baruch on December 21, 2018, 07:56:55 PM
If you are referring to the Carthaginian execution of Roman general Marcus Atilius Regulus ... then I am impressed.  Otherwise, how do you know I am not a masochist or acupuncturist?  But I do think you are a sadist perhaps?

Actually, I was referring to the Brothers Grimm stories.  That was a favorite way of dispatching people, apparently...  Which (protecting my innocent self) I always assumed was allegorical.  The real ways were much crueler and one's I wouldn't wish on ANYONE!
Title: Re: The chance of being rich if your father is not rich...
Post by: Cavebear on December 25, 2018, 08:02:21 PM
Quote from: Unbeliever on December 24, 2018, 01:15:35 PM
Communism never began, only a tyranny that was called communism.

Granted, there has seldom been "true" communism.  Maybe a few communities for a short time here and there.  Never a government. 

While I dislike every government that ever called itself "communist", the concept is valid.  I expect it is even harder to keep than democracy, though.
Title: Re: The chance of being rich if your father is not rich...
Post by: Baruch on December 26, 2018, 12:09:52 AM
Quote from: Cavebear on December 25, 2018, 07:58:04 PM
Actually, I was referring to the Brothers Grimm stories.  That was a favorite way of dispatching people, apparently...  Which (protecting my innocent self) I always assumed was allegorical.  The real ways were much crueler and one's I wouldn't wish on ANYONE!

Having grandmother cook them in her oven, in the gingerbread cottage in the forest?