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Comment: Re:Spare Change (Score 5, Insightful) 156

That may be true in some countries, but not in America.

In America you have to actively refuse help in order to be in continual pain or homeless.

I HAVE been poor, there is no excuse for hunger or suffering in the US, there are programs to help.

The problem is not that they are poor, its that they don't want to be helped, the reason for this could be any number of things from simple depression to severe mental disorders, but it IS NOT because help is unavailable.

A severe tooth abscess can be handled by the ER if its that bad and no publicly funded ER will turn down you down, its illegal. I know, I've been in EXACTLY that spot. And for reference, alcohol does pretty much nothing at all for tooth pain, you're far better off packing clove powder around it to numb it and treat the infection than drinking yourself silly, unless you drink enough to pass out ... in which case you have to stay drunk or the sobering up process will be FAR worse.

Comment: Re:What a shame (Score 1) 176

by BitZtream (#46774963) Attached to: Nokia Had a Production-Ready Web Tablet 13 Years Ago

If you think about the tech from the time, you'd realize they were shitty.

Battery life ... would have been crappy
Display tech ... would have been crappy
Touch screen ... would have been crappy, resistive touch if at all
Processing power ... would have been crappy
GUI hardware acceleration ... would have been nonexistent from a practical perspective.
Connectivity ... bad wifi or ridiculously over priced cellular modems that killed the batteries even faster.

As soon as the non-techie guys in the company saw it, though would have canceled it in a heart beat, it would have been an embarrassment ... much like pretty much EVERY tablet before the iPhone/iPad era. Android may be fine now, but before they iPhone, pretty much every mobile device was asstastic. A few die-hard geeks (myself included) had things like old high end nokia smartphones or windows ce devices, but they were entirely the realm of high end geeks who would put up with the quirks

Comment: Re:Becoming Canadian (Score 1) 405

by bluefoxlucid (#46773975) Attached to: Intuit, Maker of Turbotax, Lobbies Against Simplified Tax Filings

Yes of course, it's all very complex. My point is, however, that the secondary market is a big money pump to move money from idiots to smart JP Morgan investors. I know because I've moved money from idiots to me, on purpose. It's not exactly easy, either; rocket science is what I would call easy.

The stock market is an exercise in chaos theory. Stock market movements are 100% predictable; however, you have less than 100% information, so you cannot predict them 100% reliably. The stock market is rather transparent, and a combination of technical analysis (stock trends), knowledge of current events (business acumen, awareness), and fundamentals (awareness of fundamentals applied to any information that leads you to think focus will be moved onto those fundamentals) allows you to make fairly reliable judgments about what is good to buy and what isn't. You can take this all the way out to dividing market sectors by the market as a whole to find out what is growing faster than the market, and dividing stocks by the sector as a whole to find out what are the hot stocks, and then doing further analysis, and picking winners nearly every time.

The average person trades on news, on "this stock is doing well", on "this is a good company". The amount of analysis an investment banker makes is huge. That means an investment banker has significantly more wins, has an understanding of how much they can lose, and can assure continuous average growth over a period. Day traders play entirely on technicals (day trading is round-tripping repeatedly in one day on minor fluctuations; it's the same as long-term trading, but is less influenced by news and major current events, so requires much less information to pull off successfully--but requires more money and/or margin leverage).

Think about it this way: You're playing poker, 5 card stud, with JP Morgan, Goldman Sachs, and three of your buddies. JP Morgan and Goldman Sachs can see 3 of the 5 cards of everyone's hand and the first card on the top of the deck. You and your buddies can see one card of everyone's hand, and can't peek at the deck. None of you knows how many cards each person is going to hold, or which. Who is going to leave the table rich, and who is going to leave dirt poor?

Comment: Re:I will be a millionaire. (Score 1) 366

by bluefoxlucid (#46773853) Attached to: Survey: 56 Percent of US Developers Expect To Become Millionaires

I actually did some funky math and found out that it works out better for the banks too, to the tune of twice as much profitability with 14% interest rates. It turned out that they would get half as much money from interest if people started aggressively paying down loans for a 10 year mortgage cycle; but it would be half as much money in a third as much time, so about 50% more profitable. Meanwhile, the individual paying their way out of debt has to make about 30% larger payments to get the mortgage paid off in 10 years (with 2.25% interest rates, it's 150% larger--you pay $2700 instead of $1150 to get a 10 year payoff on a $425k house with a $310k price tag, versus a $450k house with a $110k price tag), but shave about half the cost off the house.

That means house valuation is complex. House valuation isn't just sticker price, but total payment on the house. Problem is that itself depends on what people are willing to pay per month and how long of a loan they're willing to pay--30 year loans because nobody wants 45 year loans and nobody will pay up for 10 year loans. But at higher interest rates, you start talking that $425k house gets stickered at $110k and in 30 years you pay $425k from $1150/mo ... but $1500/mo payments get you out of it in 10 years, $200k less total payment, so now it's apparently a $225k house--at least, it's a $225k house on a 10 year payment plan, because people are willing to pay that much per month to get out of debt in 10 years, but they won't pay that much per month for 30 years.

Complicated market forces at play.

But this is of course from years of research and some unimpeachable scientific subject called "Mathematics". It's hard to explain in simple terms.

Comment: Re:401k (Score 1) 366

by bluefoxlucid (#46773765) Attached to: Survey: 56 Percent of US Developers Expect To Become Millionaires

401(k) is a place to play the market, which is a lot like playing poker: it's not the cards and the luck that make you win or lose, but rather the other players shaking your inexperienced ass down so you make bad decisions and lose all your cash.

I'm already financially ahead, I no longer have any 401(k) investments, and I've not yet had a job reaching $70k salary. I've got a mortgage--it's going to be paid off 3 years after its inception--and my mandatory expenses are less than 1/3 of my salary. I killed off a car loan and now have additional money to put toward my debt. I saw those $500/mo utility bills and leveraged credit card debt to do some insulation work; when I pay the cards off, I'll take my $350/mo savings on heating and AC (pays for the insulation in a year!) and get some medium-low to medium range windows (mine actually got wet on the inside last night, condensation).

So you see, by the time I'm 30, I'll have a house paid off, I'll have $500/mo of expenses, no credit card debt, and just piles and piles of thousands of dollars being shoveled into savings. I spend a lot in discretionary spending, for example I'm expanding my knowledge base out of IT and into project management--that will open my career path, but I'm not banking on big salary jumps. When I get them (I'm not stupid--if I jump to a PM career, I'll get at least $80k), I'll look at my finances again and decide what to do. Notably I won't be able to get a tax deduction for IRA contributions AT ALL after that; I do get a tax deduction for HSA contributions, which I maximize because I USE THAT TO PAY FOR HEALTHCARE. That's not even a savings thing; that's a projected expense, which I just got a 30% discount from.

So others my age have $50k or so in their 401(k) by now. So what? I can stick that much in savings in under 2 years. Your move.

Comment: Re:A million is easy (Score 1) 366

by bluefoxlucid (#46773679) Attached to: Survey: 56 Percent of US Developers Expect To Become Millionaires

They're not saving. They're playing a game they fundamentally don't understand. A game of strategy, group psychology, numeric analysis, graphical analysis (shortcuts through visualization--"I can just see it"), tracking the news (HEY MARKETWATCH!), etc.

When I was last into it, I had a coworker arguing with me about how the S&P grows 10%, so he just buys SPY with all of his money. I told him that's a bad idea and S&P was about to drop. It did. He delayed his retirement by 5 years, and came out with a little less money than he started with.

The S&P growing 10% was never true. Averaged over 80 years of volatile movement, it's been shown to grow by 10% per year on average. The market is a hellish place where you don't belong if you are not ready to face dragons and Forbes telling you false things about the market and claiming they are "debunking myths".

Comment: Re:401k (Score 1) 366

by bluefoxlucid (#46773595) Attached to: Survey: 56 Percent of US Developers Expect To Become Millionaires

I have debt. So I'm paying off my debt. You know, the mortgages and credit cards and car loans people have that they pay all these fees (like interest) on, but claim they're "saving money".

After that, a savings account will do better than a 401(k). I don't play funds because it's too much work to keep my money from shrinking--I've done it to the tune of 1% per day, and I was a fucking nervous wreck but I'd turned $800 into $3000 and I had 5 pages of taxes to file for 230 trades. Yeah, no, you know what? Honest living. It went from running an illegal gambling ring and tax fraud behind a front business (a "Computer Entertainment" business as a front to install gambling machines explicitly marked as not-gambling machines in various businesses) to stock market trading to pure, clean, honest living, and let me tell you, there is nothing quite like it. I'm even way past the statute of limitations after the illegal front business thing, although I can't get a security clearance due to running a miniature organized crime syndicate for a while.

This is also why I elect Traditional IRA (pre-tax) rather than Roth (Post-tax): I deduct taxes and pay that much less in taxes (for now), and when I cash out I'll pay taxes on it. Thing is I'm not investing, so I don't get to do massive capital gains and then dodge the income tax "because it was already taxed". Since I'll need much less in retirement than I need now, I'll be in the 0%-15% tax bracket, rather than the 33% bracket I'm slicing the money off--I'm getting an immediate, complete 18%-33% gain without putting any work in.

Where do you think JP Morgan and insurance companies get their money? Investments. They transfer money from idiot traders who don't know how to keep their hands on their cash into the hands of smart traders who work for their investment branch. Unless you are an elite trader, you should not be investing. The only time I invest is when I play with updown, and that's usually to reset my portfolio to a million dollars and see if I can have 2 million in a month (usually I come out with 1.2M to 1.5M) since I'm not willing to get sucked into the long-term trading trap again.

Comment: Re:401k (Score 1) 366

by bluefoxlucid (#46773473) Attached to: Survey: 56 Percent of US Developers Expect To Become Millionaires

I'm investing in debt.

I have a mortgage, no longer have a car loan, I have some credit card debt that I've leveraged for home improvement because of $500/mo utility bills due to really bad insulation (7/8 of that is due to poor insulation in one room which needs new windows and work in the wall, ceiling, and floor). Rather than have all that mandatory spending and interest, I'm funneling my money into paying off my debt.

I paid off the car loan. $400/mo free to add to my mortgage, which will be paid off after a total of 3 years. Once the mortgage is paid off, I'll put the great mass into savings with my other savings, because I'll have under $500/mo of expenses.

The problem with 401(K) investment vehicles is the stock market is a big game to take money from idiots and give it to rich people with culturing and lots of study into how to rape the stock market for all it's worth. It's just a money transfer vehicle, like a game of poker, which as well is less about the cards and more about experienced players shaking up new fish and taking all their chips.

Comment: Re:power cars? technically no (Score 1) 102

by jellomizer (#46773301) Attached to: 'Thermoelectrics' Could One Day Power Cars

So say we can double that. That makes the fuel 40% efficient as we use some of the heat towards efficiency. That will double the gas mileage. However if you need a smaller engine, then it will be producing less heat. That is good if it is 1 for 1. However if their needs to be a particular heat starting limit then it may cause an issue. Unless you go with a bigger car.

The idea as the engine gets more efficient people buy bigger cars, is economically sound and proven. A large truck today can do about the same as a station wagon 30 years ago. But what happened is more people started buying trucks.

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