The crash is coming.
JP Morgan taking a win on their hedge only after idk how many decades of commodifying everything fucking thing they could. That’s a lot of words for the leech sucked the blood dry. Time to move on.
How strange that a nation led by someone who has declared bankruptcy 7 times is going bankrupt… What a twist!!!
As much as I’d like to lay all the blame at The Cheato’s feet, this has been an ongoing problem. He’s only stepped on the gas and made it more urgent than it was previously.
You are right about that. America voted him in. Birds of a feather, I guess. Or, as my Grandpa used to say, Baaaarf.
Americans not understanding basic finance = the implosion of democracy around the globe is kinda depressing and funny at the same type.
You would think with how obsessed our country is with money that more people would understand the difference between a revenue problem and a debt problem.
You can’t get out of debt by spending less if you don’t have any revenue. It doesn’t matter how much you cut in your budget if you don’t bring in any money.
The rich have been slashing spending and increasing borrowing for decades now, just so they can convince the public that there’s room in the budget for tax cuts. It’s like watching someone’s shitty friend convince a guy on unemployment to take out loans and to stop buying groceries so they bum a hundred bucks from them.
Our education system is a joke. You have to be proactive in your education here if you want to actually learn and most people are too lazy to do that. I’m not really blaming the people though cos it’s our system that encourages it.
its worst now for younger generation k-12, and even some recent college students, than in the 2000s. theres actually some regression going on in education in the us.
Parents have a lot to do with it too. Conservatives go on and on about things that are a parent’s right to teach and then teach none of it. It wasn’t in high school that I learned how to file my taxes, balance a check book, or repair a sink among many other things.
Honestly… what the fuck do I invest in? I’ve been wanting to do this for the better part of a year but how? If the NYSE tanks… so will the majority of other markets. Not only that, but the US economy will be in shambles and money will be the least of my worries - I’d need to be concerned for my physical safety when shopping for fucking groceries because those will quickly disappear off the store shelves.
“Emerging markets”. SA, China and SEA have given me pretty consistent returns over the years, and are better insulated from Western crashes.
Sure but I don’t exactly trust moving my money out of the country into a jurisdiction that might outright steal it or where it could be impounded by the US administration if I ever tried to bring it back. Otherwise I’m game for trying to invest in Chinese and Korean markets.
yeah I would recommend actually look into emerging market funds lol, there’s absolutely no chance of any of that happening. most of the funds I’m in are managed by Western companies
Euros.
The friends who listened to me back in December have already technically earned money. Back then it was still what, 97¢ to a €? Now it’s at 83¢/€ I think
Honestly? Listen to some of the community building focused “It Could Happen Here” podcast episodes. You know how during the great depression, a lot of people were extremely good at preserving food when there were good harvests and at taking care of each other? It’s invaluable to set up those sorts of community support networks now. People like to fetishize stockpiling ammo, but you can’t eat bullets, and a life of banditry is a miserable existence always a coin flip away from death.
This is partially why I’ve started getting into the hobby of vegetable gardening and forms of food preservation like fermenting, canning and drying in the wake of the pandemic. Not only does it benefit me now by reducing my grocery bill and encouraging me to eat healthier more regularly, but it’s also developing skills that could become critical to survival should things get really bad.
If the NYSE tanks… so will the majority of other markets.
Also, the rulerships in most other markets have been openly sycophantic to Trump’s extortion. Only more extortion and submission will be demanded as a result of that, and accelerated as US gets closer to brink of collapse. The desperation of colonies to tie themselves to a collapsing/sinking ship that hates them is not a recipe for success.
• food • ammo • gold.
I agree that if the US economy tanks so will everything else. The difference to me is that I want basics to get me through, and ammo for if it turns worse. The gold is just because precious metals tend to retain value while currency can lose its value if it isn’t pegged to the “gold” standard.
Also don’t forget that when times get tough people unfortunately get more violent if they aren’t fed and are struggling.
Also don’t forget that when times get tough people unfortunately get more violent if they aren’t fed and are struggling.
This is where the gold part becomes problematic. Sure, it’ll retain its value. But good luck using it without someone with more desperation than you catching wind that you have it. Doesn’t matter how much ammo you own when your back is turned.
It’s listed in order of importance for a reason.
I didn’t add •keep friends and maintain relationships, because you can’t buy that. You earn it. I don’t worry about my back when it’s turned, that’s what friends are for. I worry about having enough of the first three to help everyone around me get through the same problems. Also, it should go without saying that the point of the ammo is to never have to use it. I’m not intending for someone to come and take what I have.
Things like gold and platinum are very valuable concerning the tech industry and automotive industry, they will retain their value for many reasons.
I already did.
How would you recommend going about selecting European ETFs? Are there any weird tax implications for a US citizen?
IME international funds are as easy to buy as any other, and tax rules are the same as long as the assets remain in a US account.
OTOH if you want to actually move your assets from a domestic account to one in Europe, you may face additional requirements for disclosure and annual reporting. But that’s not necessary if your goal is simply to diversify with international ETFs.
There are foreign ETFs where you can buy in USD if available. I don’t know how that affects taxation for US citizens.
FSEAX
