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mazdon said..

Surfer62 said..

mazdon said..

How about getting a work ethic and a job and live within your means.

This is certainly how I was raised, so it could be a generational mind set.

but I think the problem in that thinking arises when either circumstances eliminate jobs from the market, even for skilled and hard working types of people (like now, or as technology rapidly changes and eliminates menial tasks).

On a personal front, would most of us "work" to try to better your circumstances and achieve whatever your goals are that may require additional income, or just accept a living wage and cruise through life?

could also see a surge in arts, music and other creative industries that some don't consider as "hard work" or at least not traditional jobs, if people with those talents could dedicate even more time to them.

Not just generational it's how people are raised and their inherited values.

Both my parents worked, working class, grew up in depression, my dad worked from 13 years of age starting out as a prospective drover with his grandfather drover in 1944, war time, then worked hard on road construction and raised 5 kids, saved and bought their 1st house in their 40s, I was 12 when we moved from a 9sq ( 81 sq m for the millenials ) fibro asbestos commission house into a 15 square brick mansion as it seemed at the time, parenst didn't travel overseas until their 60s.

I've been working full time 41 years, started at 16, last 32 in emergency services, never got a govt hand out, built my first home as a 23 year old owner builder, took 7 years to finish but lived in once it was lockup with no carpets, no curtains and 18 inch tv mounted on bricks, sold my ute to buy and install kitchen. Nowadays everyone wants a 5 bedroom monolith with theatre room as their first home with 2 new cars in the triple garage, no freaking idea.

My millennial daughter works 2 jobs 6 days a week and saving for her first house, work ethic is inherited from parents.

We are now in an age of entitlement not privilege, laziness not work, demand and expect govt handout is now accepted as the norm, it is always some one else's fault.

I see sports stars having to take a drastic cut to their pay after this is over. Lots of folks are going to drop their monthly subscriptions to Sky Sports etc.

The amount of money they get paid shows just how sick this society has become.

Atletico Madrid boss Diego Simeone - football's highest paid manager - will have to take at least a 30% pay cut in his ?3.3m monthly wage. (Sunday Times - subscription required)

3.3 million pounds a month equivalent to around 1.3 million dollars a week or so.

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Little Jon said..
We already have a universal basic income, its social security like the dole and pensions

It's not "universal" if I don't get it, is it.

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Surfer62 said..

mazdon said..

Surfer62 said..

mazdon said..

How about getting a work ethic and a job and live within your means.

This is certainly how I was raised, so it could be a generational mind set.

but I think the problem in that thinking arises when either circumstances eliminate jobs from the market, even for skilled and hard working types of people (like now, or as technology rapidly changes and eliminates menial tasks).

On a personal front, would most of us "work" to try to better your circumstances and achieve whatever your goals are that may require additional income, or just accept a living wage and cruise through life?

could also see a surge in arts, music and other creative industries that some don't consider as "hard work" or at least not traditional jobs, if people with those talents could dedicate even more time to them.

Not just generational it's how people are raised and their inherited values.

Both my parents worked, working class, grew up in depression, my dad worked from 13 years of age starting out as a prospective drover with his grandfather drover in 1944, war time, then worked hard on road construction and raised 5 kids, saved and bought their 1st house in their 40s, I was 12 when we moved from a 9sq ( 81 sq m for the millenials ) fibro asbestos commission house into a 15 square brick mansion as it seemed at the time, parenst didn't travel overseas until their 60s.

I've been working full time 41 years, started at 16, last 32 in emergency services, never got a govt hand out, built my first home as a 23 year old owner builder, took 7 years to finish but lived in once it was lockup with no carpets, no curtains and 18 inch tv mounted on bricks, sold my ute to buy and install kitchen. Nowadays everyone wants a 5 bedroom monolith with theatre room as their first home with 2 new cars in the triple garage, no freaking idea.

My millennial daughter works 2 jobs 6 days a week and saving for her first house, work ethic is inherited from parents.

We are now in an age of entitlement not privilege, laziness not work, demand and expect govt handout is now accepted as the norm, it is always some one else's fault.

Very impressive, I get what you are saying - I still think it is a bit more complex than that. As an example, I am one of 3 brothers,4 years apart, same inherited values from working class parents who both worked all our lives - but very different approaches to money in the 3 brothers.

one is white collar professional, responsible with money, saves, happy with less material things,
one is blue collar worker, grinds, works mega hard and long hours, money shifts through his life and you wonder where it could possibly go
one could have been in prison by now. Bit of a black sheep - enough said.

We all get and value working hard, and being productive (well, maybe not the white collar guy ), but what we do with it is very different.


out of curiosity, still in your first house you built yourself?

Been reading the expanse novels, and in that future version of earth where technology and automation have taken menial jobs, there was mention of "basic" which is like credit but not real money, to let you pay rent or for food, drink, entertainment etc. I pictured it a bit like cashless welfare card.

but it was limited, and you couldn't use it to buy more desirable consumer things (cars, land, better fashion etc).

And then while getting basic, young adults would work in jobs such as hospitality or services, to prove they were hard working and dedicated enough to go to university or a skills training, for a future job to earn actual money etc.

fiction obviously- but possible? Probably only if we eventually get to one world government and finance I guess (tin foil hat now on)

only read the first 2 books - but pretty good!

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petermac33 said..
I see sports stars having to take a drastic cut to their pay after this is over. Lots of folks are going to drop their monthly subscriptions to Sky Sports etc.

The amount of money they get paid shows just how sick this society has become.

Atletico Madrid boss Diego Simeone - football's highest paid manager - will have to take at least a 30% pay cut in his ?3.3m monthly wage. (Sunday Times - subscription required)

3.3 million pounds a month equivalent to around 1.3 million dollars a week or so.

Yeah we are starting to see who is essential now, the public servants really deserve the payrise not these guys

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Investors rush to gold

The Perth Mint, Australia's largest, has reported a big rise in demand for gold and silver amid the coronavirus pandemic.Precious metals like gold and silver are considered "safe haven" assets in times of financial crises. They are perceived to hold their value during stock market volatility.For March, sales of gold coins and bars at the Perth Mint hit their highest level since April 2013, according to Bloomberg data. Silver sales almost tripled compared to February's figures.The mint's gold kilobars were sold out last week due to the surge in demand - so it has reopened its manufacturing facility.

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petermac33 said..
Buying physical gold or silver is likely the best strategy for protecting savings.

I remember 20-30 years ago a few South American counties experienced hyperinflation.

Method to the madness - a way to bring down the middle classes to subsistence living perhaps.

I bought PMGOLD ETF today.
I am worried about banks and the potential bail in.
It will end me . Not really sure what to do.
Started shifting funds into ETFs today . Defensive
ones: Bonds , Floating Rate Notes , Fixed Interest ....but heck I can't put all my deposits in there . It's freaking me out . I guess I can buy stocks and buy hedge positions against it to remain neutral .
Who would have thought deposits could be stolen

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petermac33 said..

Investors rush to gold

The Perth Mint, Australia's largest, has reported a big rise in demand for gold and silver amid the coronavirus pandemic.Precious metals like gold and silver are considered "safe haven" assets in times of financial crises. They are perceived to hold their value during stock market volatility.For March, sales of gold coins and bars at the Perth Mint hit their highest level since April 2013, according to Bloomberg data. Silver sales almost tripled compared to February's figures.The mint's gold kilobars were sold out last week due to the surge in demand - so it has reopened its manufacturing facility.

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petermac33 said..

Investors rush to gold

The Perth Mint, Australia's largest, has reported a big rise in demand for gold and silver amid the coronavirus pandemic.Precious metals like gold and silver are considered "safe haven" assets in times of financial crises. They are perceived to hold their value during stock market volatility.For March, sales of gold coins and bars at the Perth Mint hit their highest level since April 2013, according to Bloomberg data. Silver sales almost tripled compared to February's figures.The mint's gold kilobars were sold out last week due to the surge in demand - so it has reopened its manufacturing facility.

Buying physical gold worries me.
If you keep it in a vault it can be stolen . If you take it home they know where you live

Bury it in the garden, like my grandfather did, in old tins. At least he was always telling us about it....we never actually found any.

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Harrow said..
Bury it in the garden, like my grandfather did, in old tins. At least he was always telling us about it....we never actually found any.

Not a good idea

I put $30k in market today across some stocks (WES,STO) , and conservative ETFs (Gold, Cash, Floating Rates, Fixed Interest). Still have some BBOZ as a hedge and will buy similar or more . I have decided to diversify as much as I can . Can't trust banks anymore

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Gboots said..
Not a good idea

I put $30k in market today across some stocks (WES,STO) , and conservative ETFs (Gold, Cash, Floating Rates, Fixed Interest). Still have some BBOZ as a hedge and will buy similar or more . I have decided to diversify as much as I can . Can't trust banks anymore

I'm lazy, VDHG is good enough for me. A 7000 to 5000 drop is a once in a decade opportunity....average in over 6 months as it wanders around.

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Harrow said..

Gboots said..
Not a good idea

I put $30k in market today across some stocks (WES,STO) , and conservative ETFs (Gold, Cash, Floating Rates, Fixed Interest). Still have some BBOZ as a hedge and will buy similar or more . I have decided to diversify as much as I can . Can't trust banks anymore

I'm lazy, VDHG is good enough for me. A 7000 to 5000 drop is a once in a decade opportunity....average in over 6 months as it wanders around.

Yeeerrrhhhahh! I started a small portfolio of stocks in my area of knowledge a week ago... it's up more than 35%.

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