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[massoluk]

You mean the history of the Dow's relatively steady growth over time? What exactly the fuck are you talking about with this comment?

http://www.macrotrends.net/1358/dow-jones-industrial-average-last-10-years

God, these threads are maddening. Are you all really this desperate to put your ignorance on display?

Huh? I was thinking the investor getting all giddy by Trump deregulations prospect. DJI was gonna rebound, we all know that

 

[ZackieChan]

Investing in financial markets generally takes two things.

1.) disposable income- which the poor by definition do not have very much of

and

2.) financial literacy- which even the middle class is desperately short on. When talking about the poor, you're generally speaking of the products of bad schools with very low reading comprehension, math, or critical thinking skills.

Or to put it another way, even if the guy bagging your groceries had an extra $10 a week to spare, it's not enough to actually make any meaningful investments with, and he wouldn't have the knowledge necessary to put it to any good use even if it was. Your average joe sixpack would just buy a single stock and hope it skyrockets because that's what they saw on TV once.

It is easier than ever to know how to invest in a smart way. Literally every site that allows you to invest has information about it, and there's a ton of blogs that walk you through it. One would have to be willfully ignorant to not know this - there's no excuses. It doesn't exactly take more than a high school level of education to understand the basics.

Then you've got the idea that $40 a month isn't enough - maybe, but it's certainly better than nothing. Check out this article - http://lifehacker.com/how-much-youll-save-for-retirement-if-you-invest-just-1441177705
You're assuming with that $10 a week that they'll never increase wages/savings, or get a side hustle, or whatever. Nothing you said prevents people from investing in financial markets without borrowing large sums of money, which is what the poster I replied to was saying. I have a feeling that anyone who has nothing left over to save is doing something wrong down the line where money is leaking out of the budget, doesn't even have a budget, or isn't doing all they can to bring in cash and get ahead.

Whether they WANT to put money into savings is another thing entirely, of course.

 

[Manmademan]

It is easier than ever to know how to invest in a smart way. Literally every site that allows you to invest has information about it, and there's a ton of blogs that walk you through it. One would have to be willfully ignorant to not know this - there's no excuses. It doesn't exactly take more than a high school level of education to understand the basics.

you're vastly overestimating the ability of the average american to seek out and parse financial information. 32 million US adults- about 1 in 10 are functionally illiterate. A much greater percentage of the poor fall into this category. Only able to read well enough to get by on the normal day to day. They do not have the ability to wander through investment advice on financial blogs, nor discern factual information from outright scams.

This isn't limited to "investment advice" either. Pyramid schemes thrive on poor people looking for a way out that don't understand that Amway/Herbalife/Itworks/etc are exploitative scams.

Then you've got the idea that $40 a month isn't enough - maybe, but it's certainly better than nothing. Check out this article - http://lifehacker.com/how-much-youll-save-for-retirement-if-you-invest-just-1441177705
You're assuming with that $10 a week that they'll never increase wages/savings, or get a side hustle, or whatever. Nothing you said prevents people from investing in financial markets without borrowing large sums of money, which is what the poster I replied to was saying. I have a feeling that anyone who has nothing left over to save is doing something wrong down the line where money is leaking out of the budget, doesn't even have a budget, or isn't doing all they can to bring in cash and get ahead.

Whether they WANT to put money into savings is another thing entirely, of course.

I have a feeling you don't have much experience with the poor.

 

[Dragonite]

you're vastly overestimating the ability of the average american to seek out and parse financial information. 32 million US adults- about 1 in 10 are functionally illiterate. They do not have the ability to wander through investment advice on financial blogs, nor discern factual ones from outright scams.



I have a feeling you don't have much experience with the poor.

muh bootstraps

 

[K' Dash]

Where have I seen this before?

I was waiting for someone to post this.

 

[ZackieChan]

you're vastly overestimating the ability of the average american to seek out and parse financial information. 32 million US adults- about 1 in 10 are functionally illiterate. A much greater percentage of the poor fall into this category. Only able to read well enough to get by on the normal day to day. They do not have the ability to wander through investment advice on financial blogs, nor discern factual information from outright scams.

This isn't limited to "investment advice" either. Pyramid schemes thrive on poor people looking for a way out that don't understand that Amway/Herbalife/Itworks/etc are exploitative scams.



I have a feeling you don't have much experience with the poor.

Okay, I've said my piece. You're free to disagree.
Maybe you're right, since half the posters in this thread seem to be financially illiterate about the basics of the stock market/investment.

muh bootstraps

What a thoughtful response. Googling "how to invest for retirement" and putting aside $10 a month at first is "bootstraps"? Give me a break.

 

[Liljagare]

The national debt meanwhile has passed 19 trillion dollars. Isn't amusing how it all still works?? Unfunded liabilities at 126 trillion, and nobody bats a eye.

Hopefully alot of it will default under Trump so he'll be remembered for that.

 

[Randolph Freelander]

The national debt meanwhile has passed 19 trillion dollars. Isn't amusing how it all still works?? Unfunded liabilities at 126 trillion, and nobody bats a eye.

Hopefully alot of it will default under Trump so he'll be remembered for that.

Yeah, the total ruination of the world economy will be great as long as we can blame Trump for it....

The United States cannot default on debt unless it chooses to.

 

[Bolivar687]

you're vastly overestimating the ability of the average american to seek out and parse financial information. 32 million US adults- about 1 in 10 are functionally illiterate. A much greater percentage of the poor fall into this category. Only able to read well enough to get by on the normal day to day. They do not have the ability to wander through investment advice on financial blogs, nor discern factual information from outright scams.

This isn't limited to "investment advice" either. Pyramid schemes thrive on poor people looking for a way out that don't understand that Amway/Herbalife/Itworks/etc are exploitative scams.



I have a feeling you don't have much experience with the poor.

They don't have to do their own research. The market is largely driven by institutional investors, not individuals making decisions with their own money. While they do charge fees, the stock market has indeed allowed poor and uneducated people working modest jobs to enjoy a reasonable income through retirement. I help them do their taxes every year.

 

[milanbaros]

The national debt meanwhile has passed 19 trillion dollars. Isn't amusing how it all still works?? Unfunded liabilities at 126 trillion, and nobody bats a eye.

Hopefully alot of it will default under Trump so he'll be remembered for that.

And why exactly would America choose to default?

And why would you want a complete collapse in the world financial system just so Trump can be blamed?

 

[Mr.Mike]

Y'know, Trump trying to default on the debt does seem like it might be in the intersection of things he'd actually do and things that would actually get Republicans to impeach him. But I'd hate to take that risk.

 

[smokeandmirrors]

Y'know, Trump trying to default on the debt does seem like it might be in the intersection of things he'd actually do and things that would actually get Republicans to impeach him. But I'd hate to take that risk.

why would they? a bunch of republicans in congress think it's a good idea.

 

[Mr.Mike]

why would they? a bunch of republicans in congress think it's a good idea.

And presumably the rest know it'd be the dumbest economic policy every enacted. At the very least Wall Street would absolutely lose their shit.

 

[Captain Tuttle]

why would they? a bunch of republicans in congress think it's a good idea.

I think Trump will be impeached as soon as he becomes troublesome. The GOP in Congress would much rather work with a President Pence.

It's not really a better scenario but I think that's the way it'll go