This thread is for a discussion of economics that adheres to board rules. Politics belongs in >>>>>>>>/pol/
http://www.themoneyillusion.com/
http://newmonetarism.blogspot.com/
http://krugman.blogs.nytimes.com/
http://bilbo.economicoutlook.net/blog/
http://neweconomicperspectives.org/modern-monetary-theory-primer.html
https://mises.org/
http://seekingalpha.com/article/4033815-trumps-4-percent-gdp-will-remain-elusive
http://seekingalpha.com/article/4033715-volcker-rule-washington-think-worst
http://seekingalpha.com/article/4033702-truth-behind-government-borrowing-runaway-inflation
>muh trickle down
>>1703188
>not being a monetarist
>current year
>>1703180
>mises
Sources such as this claim that Americans are in the top 1% of world income earners:
http://www.investopedia.com/articles/personal-finance/050615/are-you-top-one-percent-world.asp
http://www.globalrichlist.com/
"According to the Global Rich List, a website that brings awareness to worldwide income disparities, an income of $32,400 a year will allow you to make the cut. Using current exchange rates, that amounts to roughly:
29,185 euros
2.2 million Indian rupees, or
211,126 Chinese yuan
So if you’re an accountant, a registered nurse or even an elementary school teacher, congratulations. The average wage for any of these careers falls well within the top 1% worldwide."
How can the majority of Americans be in the top 1%, given even worst case scenario, if we make up 4.35% of the world's population?
https://en.wikipedia.org/wiki/World_population#Largest_populations_by_country
And that the median income of the US per capita is $30,240?https://en.wikipedia.org/wiki/Personal_income_in_the_United_States
Which is an amount the globalrichlist.com website claims is in the top 1.2%.
So if half of Americas population is in the top 1.2% of the world, and also makes up 2.175% (half of US pop of 4.35%) of the world population. How is that mathematically possible giving them every single benefit of the doubt? You can not fit 2.175% of the world's population in a category that makes up 1.2% of the world's population. That is mathematically unsound. Where have I gone wrong or are these websites wrong?
it's a website to beg for donations by making people feel guilty for being rich, not a government census project
>Your monthly income could pay the monthly salaries of 97 doctors in Kazakhstan.
26000 / 12 / 97 = $ 22 per month
>Average monthly income in KZ = $549
lél why are doctors such keks?
>>1703142
Yeah but if you go by wealth you need about a $600k net worth to be in the 1%
That's the only one that counts because income is too easy to be in the 1%. There's fast food workers here in Australia who are in the 1% by income
What do you call a nigger business man?
Entreprenigger
Neil degrasse Tyson
>>1703130
More successful than you.
Will I get taxed for this much income btw? How long would it take me to get to $8000/year passive income?
>>1703117
You would need about 200k in cash and an investment that nets you a 6% return on average. You reinvest 2 of that 6% (to offset inflation) and can keep the 4%, or $8k.
I don't believe you will have to pay tax on that but you also won't qualify for EIC or Social Security.
>>1703131
How realistic is a low-risk 6% return? Also, easiest way to $200k with a high school education? My thoughts are trucker or pipeline worker or fisher or something like that. I can keep 100% of my gross income.
>>1703136
of my net income * lel
Anyone here own their own business? How did you go about gaining capital for start up? What tips do you have for gaining capital and finding investors?
>>1703081
>How did you go about gaining capital for start up?
get a good demo product of what you are trying to sell and come up with a good presentation to show to potential investors
>What tips do you have for gaining capital and finding investors?
dont give up after the first guy rejects you
>>1703088
First person I am going to ask is my wife's dad who is pretty well off. We have a good relationship. Should I avoid asking family?
Man that girl is a total fuck toy would give anything just to cum all over those tits
Given the chance, with the knowledge you have now, would you:
A) Pick a degree and run with it for 3 - 4 years
B) Skip college and risk it all in business
C) Skip college and start working asap
A. Because I already know everything sans changes to the syllabus I can skip most of the studying to work on my business.
>>1703068
Wtf is That
>>1703104
Seems like the man is harnessed from belly up so his legs won't be stressed by the weight of his body,
Hey biz.
21 yr old male here looking for advice on credit cards. I'm a fulltime student and I also work part time. I make like 12 dollars an hour and work about 20 hours a week.
What kind of credit card should i get? I need to build up my credit. Buy some small shit and pay it off yaknow? I know the dangers. I just wanna know which one has the best benefits for me. Halp pls
DOUBLE CASH BACK BABY $$$ AWW YEA 2017 WE DOIN IT BIG
>>1703067
>know the dangers
There are no dangers. You don't spend money you don't have. It's that simple.
Contrary to popular opinion, I am a strong advocate of credit cards with annual fees for beginners. Even without any credit, the credit card companies will be less reluctant to accept you and will be more forgiving with your credit line. A good example are the cards offered by American Express. I haven't met a single person who hasn't been approved for the entry level SkyMiles Gold card which has a $95 annual fee (waived for the first year).
Other than that, there are a myriad of beginner cards you could consider. The one I went with was Amazon's Chase Rewards Card. You get something like 3% cash back on Amazon purchases and 1% on everything else. Absolutely no annual fee and you get a free $30 when you sign up for it.
>>1703067
I got the Discover It secured card as my first. All you have to do to qualify is get a couple hundred dollars as a security deposit and an address. At 6 months having the card, I had a 750 credit score, applied for another credit card and approved right away, but my score went down a few months because of it. Went back up and more, though, so I don't stress about the score, just use CC as your debit card, then make sure you are between 10% and 30% utilisation at the end of the bill cycle, pay it off before the minimum payment due date, never let a balance roll over.
Could i get a NINJA mortgage for a cheapo $30,00 house with no job?
How does it work? Can't they just use the house as collateral? Do i really need proof of income?
I plan to rent the place out.
>>1703049
Bump
>>1703049
Get a job nigger
>>1703889
Jobs are for nigger cattle.
What stops me from converting a large portion of my savings in United States Dollars, exchanging them for say Chinese Yuan, and then with that money, live like a king in China? Despite my savings being pretty average in the US, can you not move to a country with a lower quality of life and enter the top 1% instantly?
>live like a king
>in china
>>1703044
Perhaps not China, say India, Russia, Mexico. There are elites who live very well in every country, no?
Not having a bank there.
Do any anons here drive a new luxury car? Does life generally feels better and at a higher level once you start driving one?
>>1702989
>porche cayman
>luxury
>>1702989
>Does life generally feels better
Sure, when I'm driving it.
It tends to get a lot of stares. Of course I also always get hit up for money at the gas station, which blows.
honestly i'm not impressed with Mercedes ever since they started building their cars in the US. Quality went way down, esp crappy tires.
My neighbor has a Ferrari but it seems more of a chore than its worth. He has to be super protective about it and only takes it out for a spin like once a month so his engine doesn't get messed up and even then he can't drive it to its potiental speeds because of cops and traffic. So i don't really see the point of having it
So overall i'm not really impressed with luxury cars desu
I will inherit the 60 million jackpot.
It's been nice knowing you peasants. Seeyah poor fags.
Tell me what it is like to be poor when I win. ThanKS
*Squeeeeeeel vrrrrrrmmm*
That's my lamborghinI as I fuck ur bitch as I ride away. Don't worry she's too poor to be my wife and she stinks like peasantry.
gibsmedat!
>>1702979
this is /biz/ and contrary to popular shit post, this isn't a roleplaying board.
>>1702979
this post smells like cheetos
What would you do with 5 grand to maximize its returns, without worrying about losing it all?
Roulette, seriously.
>>1702963
buy 5 bitcoin, create 2 yobit accounts and pump and dump shitcoins
>>1702963
Dang ol Robinhood, man
If you get rich, would you give a fuck if people started to envy you?
Lets say you make millions (idgaf how), and a family member or "friend" who didn't want to know you before now wants to get social. How would you react to that?
>>1702900
desu I would spit on the people who treated me like disposable trash. Lead them on and humiliate them, if the opportunity came.
However, reality is most people won't give a fuck and if they didn't like me before they won't like me after I have money and status.
I would only look down on those who looked down on me before. desu I would be friendly to 90% of people, but I'm not going to let people use me or think they were ever better than me
we all shit the same so it is what it is
>>1702900
not a problem. People don't get rich by making friends and family their first priority.
I've ignored them this long, I should be able to keep it up.
karma is universal
I have been hearing a lot of talk about this fancy drug dealing currency and I am interested in throwing some cash into it. I know that there is supposedly going to be a crash in the coming days if not weeks. I would like to know where is the safest and easiest website to buy from, and if I should throw some money in now or wait for a big dip to throw even more money in.
>inb4 google
I have googled some and I have very little understanding about bitcoin and I don't want to put any time into learning about them if I can get my wonderfully educated and friendly anons on the internet to kindly explain it to me :^)
>>1702875
Dont, wait for the dip
>>1702901
How low of a dip should I be looking for? 600? 300? and is the cost of mining lowered when the price of bitcoin is low?
>>1702911
Mining is not worth it anymore small scale
What was the 2008 recession like? Oldfags please respond.
>>1702827
customers stopped buying in the early fall of '08. By mid fall existing orders were also cancelled.
business got so slow that I took 2 weeks of vacation in march of '09. Then another 2 weeks in june of '09. Then another 2 weeks in august of '09. In all I traveled to Disneyland, Disneyworld, Hawaii, Seattle, and Utah during that year because business was kill.
tons of small businesses went under. A few huge businesses declared bankruptcy. The stores up and down main street closed up shop. People were laid off all over. If you could afford to spend money you were one of the few. Restaurants were mostly empty in my town. Nobody was out shopping. You couldn't get a loan or any credit for a while there.
>>1702827
pretty gud
instead of you millenial fags, we had #occutards
They cried and whined about boomers too, posted to /b/ while protesting in tents from their iPads mommy and daddy bought them.
Everyone waited for the next big crash, for gold bars to replace dollars, and planned the revolution to take it all back from rich people. Pathetic and hilarious. They should have bought up everything in the market, they would have 4x their money. Some invested in btc and got rich but not many. I just visited tents looking for passed out chicks to rape. back then I could hit 2 tents in a night. Now I fap once a week and I'm tired. it's fine
>>1702862
loled
wonder if that's what moot did too.