Economy and Finance Thread

TheOctopus

TheOctopus

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Thought I'd start a thread where we can discuss the topic of Economy and Finance in general. It is always good to stay informed. :)
 
Can it be discussed without Politics? I doubt it.

They are devaluing the dollar to the point of collapse to put forth the Great Reset. Invest in Physical Gold and Silver and watch Crypto. The Central Bank recently announced their own version of Crypto, but it is still the same Federal Reserve Note in digital form and they can manipulate it any way they want. They are scared of Bitcoin and the rest.

I am 7 years away from retirement and scared what I have saved will be worthless if something isn't done about it now. Cant say more without it being Political.
 
I do pay attention to what the "superstars" of the financial world have to say in general. One does not get to be a Multi-Billionaire by making all the "wrong" financial decisions.

Ray Dalio is not exactly a "Bear" when it comes to finance. He runs the world's largest hedge fund "Bridgewater". Granted, the fund lost big $ in 2020 by being overly cautious with everything going on but IMHO that does not undermine Ray Dalio's knowledge and study of historical facts and figures of finance and understanding exactly how things work.

In a nutshell, when Ray Dalio speaks up, I tend to take notice.


Take everything with a grain of salt of course but Ray Dalio has some rather unpleasant predictions about our economy. Now, many will call that being pessimistic and that it will not happen but beware because those people will also not be able to offer a logical counter-argument as to "why it will not happen"...

Ray Dalio Sends A Warning On A Horrid Economic Collapse Ahead - YouTube
 
Shadowfax said:
Can it be discussed without Politics? I doubt it.

They are devaluing the dollar to the point of collapse to put forth the Great Reset. Invest in Physical Gold and Silver and watch Crypto. The Central Bank recently announced their own version of Crypto, but it is still the same Federal Reserve Note in digital form and they can manipulate it any way they want. They are scared of Bitcoin and the rest.

I am 7 years away from retirement and scared what I have saved will be worthless if something isn't done about it now. Cant say more without it being Political.
Click to expand...

I am thinking that "yes" it can be discussed without politics. We got to where we are today with many, many presidents and administrations and their collective input over the decades. Still, the finance in my opinion transcends politics. Presidents have much less impact on the stock market in general than they would like to think or boast about... That is a fact so no need to invoke any particular policy or administration as a scapegoat for blame.

One needs to stay ahead of inflation of course and be prepared that prices will definitely NOT be the same 10, 20, 30 years from now and that fancy burger that is say $12 today, may cost you $30 in retirement... (I am not talking about the gourmet Wagyu Beef $5,000 burger. If you are eating those, you don't need to follow this thread at all...) :D
 
NorthStar said:
Bitcoin or Dogecoin?
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Dogecoin has done very well for a friend of mine. He bought that new $25K Harley Davidson he wanted with the small investment into Dogecoin. Happy as can be. That cute Shiba Inu coin bought him his ultimate toy.

Don't underestimate the power of the people and when Elon Musk proclaimed "Dogecoin" the people's crypto, the Reddit youth took to buying it.... To the Moon it started to go. No matter that it is a joke currency, no matter that it will have severe volatility, it is still cheap enough to have fun with and it will do well over time. Of course the entry and exit points will determine the overall success long term, just like Bitcoin.
 
One thing for sure, today's youth is very much ahead of my generation (GenX) and Babyboomers as far as being in tune with investing and the stock market potential at an early age. I did not invest into the market until in my late 30's. It will ultimately lead to many success stories and many failures but there will be many lessons learned along the way.









DogeCoin-To-The-moon.jpg
 
This video is certainly thought provoking.

The Scariest Financial Experiment In History Happening Now | Roaring 20’s or Hyperinflation?

1 year ago the entire world went through a massive shock that send economic markets plummeting. The SP500 lost 26% in one of the worst drawdowns in financial history. But here we are, more than 1 year later and on paper we have essentially fully recovered and blossomed from this 2020 low. Unemployment rates are getting close and close to normal, bankruptcies are falling to record lows, and the stock market is at all-time highs. On the surface this seems very good, but dig underneath and you will uncover the biggest and most terrifying financial experiment in history which could result in a new golden age, or it could potentially bring us to a chilling dark age that we have never experienced before.

https://youtu.be/dPW1tbMOAA4
 
Interesting reads Serge, as a recently retired person I share a lot of the concerns.
 
NorthStar said:
Serge, question for you: When you file your taxes do you have to pay taxes on Bitcoin?
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As far as I know, under US tax law, cryptocurrency is considered property and as such, you owe taxes on realized gains when sold.

I have not kept up with the unrealized gains taxes being kicked around but the current administration is trying to implement the mark-to-market approach where one will be on the hook for unrealized capital gains. That will be a huge kick in the crotch
 
I neither use nor sell drugs but the answer to your question is pretty obvious. The pot economy is booming and paying quite a bit of taxes where it has become legal, illegal drugs are well, illegal and criminal.

Private sales of Used stuff there is usually a limit as to how many transactions per said amount of time but it varies from state to state. Florida for example let’s you sell two items in 12 a months period and then you are considered a business and should be collecting sales tax. Good luck enforcing that not that I’m implying the IRS can’t or won’t catch up or that one should cheat on their taxes. :)

In general, the tax loopholes are such that the government collects about 25% of corporate tax what it used to in say the 60’s, keeping it proportional to the size of economy I read.
 
Good point Serge; pharmaceutical companies sell medicinal therapeutical ethical drugs for the well being of humanity...healing. And they have to pay taxes too, or their CEOs wouldn't make the money they make. Marijuana is legal in some states, and they pay taxes. Vaping and smoking (tobacco)...you pay taxes, to our government.

Audio gear on the used market; the tax collectors aren't interested in second-hand audiophiles, do they?

There is tons of money to be made right now; check your finances, make a plan, invest in the right places...e-commerce, vaccin companies, cryptocurrency, high-end audio paranophelia, wiring, luxury yachts, real estate, hypercars, castles, mansions, private islands, YouTube, Instagram, Apple, Amazon, ...
 
NorthStar said:
Good point Serge; pharmaceutical companies sell medicinal therapeutical ethical drugs for the well being of humanity...healing. And they have to pay taxes too, or their CEOs wouldn't make the money they make. Marijuana is legal in some states, and they pay taxes. Vaping and smoking (tobacco)...you pay taxes, to our government.

Audio gear on the used market; the tax collectors aren't interested in second-hand audiophiles, do they?

There is tons of money to be made right now; check your finances, make a plan, invest in the right places...e-commerce, vaccin companies, cryptocurrency, high-end audio paranophelia, wiring, luxury yachts, real estate, hypercars, castles, mansions, private islands, YouTube, Instagram, Apple, Amazon, ...
Click to expand...

Typically luxury items such as yachts, hypercars, high end audio, are not exactly an investment but that's not to say they can't be a source of revenue. Yacht chartering such as UpYacht, BoatBookings, etc... and TURO, HyreCars for cars. I am not familiar with details of such but know they exist and people do it to either offset the cost, break even or perhaps even make some money over time.

High End audio? Well, at one point I actually thought of creating a high end audio leasing model but keep it as an exclusive, small operation for special clients that I could trust. One thing we know about audio is that people like to upgrade and play much more often than they want to actually keep any of their gear. :)

So why make them purchase an expensive pair of speakers (Like the new Wilson AlexxV $125k) or a that fancy new Boulder amp when they can play with them for six months to a year and it would cost much less than they would be selling them at a depreciated, typical preowned audio prices and not having had to tie up a large chunk of money that could have been invested into an assets that has the potential to appreciate over time? The leasing/sharing models work very well for other depreciating class items and are popular, so why not high end audio for high end clients? :cool: As the gear ages, the leasing numbers would adjust lower and be accessible to a larger pool of clients... :evil: Pretty sure the idea would work very well in certain markets that have a concentration of wealth and lifestyles where luxury items are well, a necessary component for a happy life...

Of course that business model requires a much more substantial, up-front investment to get going compared to a traditional retail model where all the profit is available at the point of sale.

I have always thought I could put my money to better use elsewhere. But for an established store with many wealthy clients???

Mike? :cool:



Islands are beyond my scope of knowledge or ideas... Never thought of it but the few who own them, seem to be doing very well? 10 Richest Private Island Owners | TheRichest.



One thing for sure. Beachfront properties are a sure bet long term investment. They just don't make more waterfront/beach property. When some of the investors started hinting at Puerto Rico... that was a good time to jump on it as their prices were depressed. I hesitated, thinking I don't want those headaches with the hurricanes and all that... and of course that has market has exploded as of late .

Manmade islands are no longer sci-fi of course, it is quite within the reach and has been done (Palm Islands Dubai). Maybe the idea will catch on someday in many other places and that will create new and perhaps even more exclusive/expensive beachfront properties?


dubai-1-800x600.jpg
 
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