this post was submitted on 10 Sep 2024
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Actual financial literacy is crucial to success as an adult. You can complain about The System all you want but it will likely still be in place after all of us are bones in the ground, so make use of the resources you can achieve something with.
Condescending shitheads talking down to poor people like they have a FRACTION of the ability to stretch a dollar. Self flattering scolding that does nothing but justify a system that produces unlivable outcomes.
I will say it's also easier to stretch a dollar when you have more money. There are some things that everyone needs where if you have more money up front you can buy something that will last longer and save you money over a period of time. Meanwhile if you're living paycheck to paycheck you may not have the money up front and need to go with the cheaper option and ultimately spend more money over time than the wealthier person. But again it's hard to even think about that let alone act on it when doing so could jeopardize being able to pay rent (which can in itself be an example of such a thing compared to owning a home,).
Codified as the Sam Vimes "Boots" theory of socioeconomic unfairness
Ding ding ding!!!
You're not wrong but generally it's very difficult for anyone to develop financial literacy unless they already have financial stability. Real hard to learn about the details of contributing to a Roth when you are already struggling to meet basic needs.
Anyone who has access to the Internet can begin learning the basics of financial literacy right now. That is the only barrier, other than being literate.
Here are some basic tips that could get someone with zero financial literacy started:
Don't use credit cards unless you can pay them off before interest accrues at the end of the month, otherwise you are wasting money and entering the Debt Trap.
Don't use Doordash and other expensive delivery services, pick up your own food or make it at home.
Make a budget, which should at least consist of a list of your monthly expenses such as housing, food, utilities, etc, and keep track of what you spend on it.
Subscriptions are leeches, don't subscribe to anything that you can avoid.
If you have an employer provided retirement plan, always put in what they will match so that you get the full match (free money).
It really seems like you're trying to blame people in poverty for being in poverty and that if only they'd follow these simple steps they wouldn't be poor so clearly it must be their own fault for not educating themselves. It's so simple and easy, just don't doordash your avocado toast and put some money in your 401k!
Poverty begets poverty. It's not a personal failing. People can't make a home cooked meal after a 12 hour shift on minimum wage. People can't just decide to not take on credit card debt when their car they can barely afford needs maintenance because it's the only way they can get to work every day to make enough money to keep barely scraping by. Systemic issues trap people in a cycle that literally destroys their bodies and minds.
It really seems like you're imagining a bunch of things I never said anything about, because you want to get on your soapbox and talk more about poverty. Everything I suggested is completely achievable by many of those in poverty, to which I speak from personal experience.
Wow such a genius, after following this simple 5 bullet points I can now afford a house!
Well I've lived through poverty and the Debt Trap and worked my way out of it into success and stability, but if you want to ignore my advice that's your problem. My financial literacy allowed me to buy a house and land.
Genuinely curious why you think this is the case. Do you think the current US Empire and other decaying Imperialist powers are sustainable, or at least enough to last the next 40-80 years?
Yes of course it is sustainable. We have the resources to do everything we need for hundreds of years here in the USA without any external dependencies. The disaster recovery and continuity plans and infrastructure are already in place to ensure that the US government will continue through a variety of apocalyptic scenarios.
you have no fucking clue how brittle systems like electronics production, or oil supply are. USA, from a systemic point of view, is the most coupled and fragile production system in the world except maybe some micro-nation in the middle of the ocean.
You have no fucking clue what I know about, actually.
I'm not talking about resources, but the entire Imperialist Economic Mode of Production, ie dying Capitalism. The US is largely de-industrialized, it makes most of its profits off of Imperialism, ie export of Financial and Industrial Capital. The US doesn't produce what it needs, generally, because it is more profitable to hyper-exploit the Global South.
The US Empire will bring about its own ruin.
Sure thing Lenin, and I am the walrus.
Do you have any logical basis for rejecting what I've said, or are you just running on vibes and magic?
I could ask you the same thing, and it would be bullshit to me, just as whatever I reply with would be to you. From my perspective you're in some dumbass communist fantasy based on the internet ramblings of children.
I dunno, you tell me where this is bullshit.
Over time, Capitalism trends towards monopolization. We see this with mergers, "daughter companies," and other alignments as groups coalesce into syndicates
Financial Capital, ie Banks, begin to control Industrial Capital through aquiring large amounts of shares and including conditions in loans, resulting in large-scale mergers of Capital
Companies seek to export Capital, both industrial and financial, to the Global South where resources and wages are cheaper, so as to increase profit margins tremendously.
Countries in the Global North generally divy amongst themselves different areas of the Global South
Underdevelopment due to expropriation of resources drives countries in the Global South against the Global North, cutting off revenue
As a consequence of deindustrialization combined with countries kicking out the Imperialist Powers, these countries in the Global North face crisis
Which do you disagree with?
I disagree with the assertion points 1 through 6 are factual. Those are all extremely broad generalizations based on assumptions you hold. Some of those things do happen on occasion of course, but it's not a railroad track of 1 leads to 6 with no other possibilities. The financial industry is heavily regulated by the US Gov't which exerts control to prevent much of 1 - 3 on your list.
We can see it happen regularly in industry, as we have seen with the IMF, Blackrock, Amazon, and more.
The Capitalist State's role is symbiotic with the Financial Capitalists, not predatory. The State is controlled by the wealthy Capitalists.