• 11 Posts
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Joined 3 years ago
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Cake day: June 7th, 2023

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  • All that trauma led to the Marshall plan and is why American currency is the world reserve currency.

    Our top tax rate was 90% until the mid 60’s to pay for that and the cost of the world war we initially wanted to avoid entering.

    Like it or not, the reason the U.S. system dominates now is that we built it at great cost (investment) to connect and support the developed world after massive devastation initiated on Europeans by Europeans.

    The goal was to connect everybody in mutual benefit in order to avoid another such war.

    We are all culpable for current conditions and faults. Sure, we benefitted from that aid to Europe, but not at the expense of the other participants and not without sacrifice.

    We learned from the aftermath of the first world war, when we collectively punished Germany to the point of their desperation and enabled the rise of Nazism as a response to crualty.

    Yes, the victors’ revenge and punishment brought forth hatred, cruelty, and unfathomable horror.

    Now those Germans are the backbone of European wealth generation and upstanding members of the world community. I’d say that’s a rather good outcome of post_war policy. Similar is true of Japan and Italy.




  • Last year, the couple in the other half of the duplex in which I rent moved. A group moved in a few weeks later.

    They are a single mom, two younger kids, a teen, and a few unrelated friends. Three incomes at least to afford the rent of $2500, which is at least $700 more than the previous tenants paid - for under 1500 square feet. It’s the only way they all could afford to have housing.

    I didn’t even break a sweat, but thanks for your concern.




  • Which, by the way, is achievable with a 529 account, which has been around for a long time. Any funds not used for education can be rolled into an IRA in adulthood.

    He is doing nothing new, but is putting his name on it. I guarantee it will encourage investments in private equity/credit and crypto.

    He does nothing for altruistic reasons. If it appears to benefit others, it is either a side effect, or a useful illusion.