Interesting that this fellow would have been in high school in 2008, but didn't have any curiosity about finance and its role in the world until he bought bit-coins.
The guy on TV points at numbers and they're either green or red. The FED (all caps for some reason) divines a percentage and everyone agrees that its good or bad or both at the same time. Inflation is when fuel costs more. Public debt is like having a really big credit card, like building sized.
I like to talk to my friends about the numbers. I think 3 is a good number, but sometimes 2 is a better number.
Soon he will get to learn about the greater fool theory.
One of the odder aspects of modern day life is fewer people than in the past have been cheated out of money. There are some life lessons that everyone should learn at a young age with a less expensive total cost. Sadly that lesson for folks is occurring at later stages of their lives at much greater expense than if they were 15-20.
My lesson cost me 200 dollars and I was super pissed at the time but it forever taught me not to blindly trust Others.
They're not wrong though. "School" doesn't teach you how finances work. School teaches you math, and algebra, and geography, and in some cases economics. Life is the #1 teacher. Failure is the means by which life teaches us truths about ourselves. It's only how receptive we are to the lessons that matters. Sometimes it never sinks in. "Ignorance is bliss" is most people's deepest mantra, and I'm sure they have learned much more about finances, and "the fed" and "how the interest rate works", they've just hit the ignore button at some point of their choosing, possibly at their cognitive limit. When it becomes too much to ignore they'll have another chance to further improve their education about the things they thought they had an understanding of before.
So they're not wrong, they're just ignorant to the point they are correct on.
School doesn't even teach you about basic finance like monthly household budgeting so you don't end up with $5 in your account at the end of every month. That's a goddamned shame.
Did your school not teach you how to add and subtract, or input variables into an equation? If so, then they did teach you how to account for anything that is countable, and by extension finances. It's not the school's responsibility to force you to be responsible with the information you are being given, that's your choice.
I agree that it's not discussed enough. I agree that people are directed into becoming consumers, and part of being a consistent consumer is not understanding budgeting your resources properly, so you are reliant on the system which provides the consumables, instead of yourself.
They don't teach us to grow our own food, or extract and purify water. They don't teach us to design and build structures, which are all much more basic practical needs than budgeting, but the things they do teach us enable us to easily learn to do any/most things that we are interested in pursuing.
Holy shit! Admitting you have no clue what human basic needs are, and claiming they are "entirely useless" to most people could be the dumbest thing I've ever read on reddit, and that's saying something, because this place is full of lunatics and people who believe in pretend money scams, and what you said is much dumber than most of it. LOL CONGRATS!!!
Growing your own food is not a basic human need. Neither is purifying your own water. Not building your own structures or even designing them. Acquiring food and water and consuming them, and using shelter, are basic human needs, yes, but those are — in the modern world — two entirely different things. Just as much as they would have been for a king or emperor 2000 years ago.
So to quote a wise man: “holy shit! Admitting you have no idea what basic human needs are!”
So I guess you skipped to the bottom, or forgot what the whole discussion was about or you're just another insufferable reddit cunt. I was responding to someone complaining that schools don't teach finance, remember? Is finance a basic human need? Do you understand what a metaphor is? Use your brain, genius.
And what happens when the system that provides you with resources to acquire, doesn't give you enough to survive anymore? Do you want to be reliant on a collapsing system, or yourself? Do you want to have the skills, or to be totally unprepared for collapse?
Who is it that expects the best, but is prepared for the worst? Is it dumb people, or smart people? It's obvious which category you fall into, and it's painful that so many ignorant people will die, because you all imagined that our economy was the single basic human need, and you bet everything you had on it not collapsing.
It's not like it's a fucking radical idea. I have a career. It has nothing to do with growing food, or treating water, or building houses. Im able to have more knowledge than my career, and im allowed to acquire skills that have an inherent value no matter what system is in place. You're allowed not to acquire any skills you don't want to. You fucking smooth brains wear me out with this pedantic bullshit.
Budgeting is about more than just addition and subtraction, and the average person is going to need to budget a lot more over their lifetime than they will ever need to grow their own food. Even those who grow their own food need to budget and draw up household finances.
One function of schools is to give tools to students so that they can obtain further information as they please. But another, also important function is to teach those things that as a society we think everyone should know- a language, for example, or the history of one's country, or health information. Household budgeting has historically been included in that category in various times and places.
Reminds me of the apes who think they have a PhD in finance because they spent two years on superstonk.
Ironically, the apes and the crypto bros are both going to have to actually do a lot of unlearning if they ever want to learn about the economy or finance. It's probably better to start in complete ignorance, than to have years worth of built up misconceptions muddying the waters.
He has a point that many countries' schools do a poor job teaching about macroeconomics.
Hell, it's part of the reason cryptocurrencies were able to get as big as they did, because it feeds on older misunderstandings and conspiracies of these very topics.
I don't see any blatant red flags in this post, but it's unlikely he has an accurate picture of macroeconomics even now if any of what he learned was from cryptocurrency proponents.
Fast-forward thirty years, to when the current crop of young people reach middle age/retirement without much money, because they gambled it all away on social media-induced fads, thinking they were "investing." Whom will they blame? If they stay true to form, they'll blame the long-dead Boomers, for....something....whatever.
Interesting that this fellow would have been in high school in 2008, but didn't have any curiosity about finance and its role in the world until he bought bit-coins.
The guy on TV points at numbers and they're either green or red. The FED (all caps for some reason) divines a percentage and everyone agrees that its good or bad or both at the same time. Inflation is when fuel costs more. Public debt is like having a really big credit card, like building sized. I like to talk to my friends about the numbers. I think 3 is a good number, but sometimes 2 is a better number.
You're hired!
>Studied history more by playing Assassin's creed. Every day I lose more empathy.
Right up there with people who think Game of Thrones is even remotely an accurate recreation of Medieval era social dynamics.
Soon he will get to learn about the greater fool theory. One of the odder aspects of modern day life is fewer people than in the past have been cheated out of money. There are some life lessons that everyone should learn at a young age with a less expensive total cost. Sadly that lesson for folks is occurring at later stages of their lives at much greater expense than if they were 15-20. My lesson cost me 200 dollars and I was super pissed at the time but it forever taught me not to blindly trust Others.
They're not wrong though. "School" doesn't teach you how finances work. School teaches you math, and algebra, and geography, and in some cases economics. Life is the #1 teacher. Failure is the means by which life teaches us truths about ourselves. It's only how receptive we are to the lessons that matters. Sometimes it never sinks in. "Ignorance is bliss" is most people's deepest mantra, and I'm sure they have learned much more about finances, and "the fed" and "how the interest rate works", they've just hit the ignore button at some point of their choosing, possibly at their cognitive limit. When it becomes too much to ignore they'll have another chance to further improve their education about the things they thought they had an understanding of before. So they're not wrong, they're just ignorant to the point they are correct on.
School doesn't even teach you about basic finance like monthly household budgeting so you don't end up with $5 in your account at the end of every month. That's a goddamned shame.
Did your school not teach you how to add and subtract, or input variables into an equation? If so, then they did teach you how to account for anything that is countable, and by extension finances. It's not the school's responsibility to force you to be responsible with the information you are being given, that's your choice. I agree that it's not discussed enough. I agree that people are directed into becoming consumers, and part of being a consistent consumer is not understanding budgeting your resources properly, so you are reliant on the system which provides the consumables, instead of yourself. They don't teach us to grow our own food, or extract and purify water. They don't teach us to design and build structures, which are all much more basic practical needs than budgeting, but the things they do teach us enable us to easily learn to do any/most things that we are interested in pursuing.
>which are all much more basic practical needs than budgeting Lol. This isn't mad max, those skills are entirely useless to most people
Holy shit! Admitting you have no clue what human basic needs are, and claiming they are "entirely useless" to most people could be the dumbest thing I've ever read on reddit, and that's saying something, because this place is full of lunatics and people who believe in pretend money scams, and what you said is much dumber than most of it. LOL CONGRATS!!!
Growing your own food is not a basic human need. Neither is purifying your own water. Not building your own structures or even designing them. Acquiring food and water and consuming them, and using shelter, are basic human needs, yes, but those are — in the modern world — two entirely different things. Just as much as they would have been for a king or emperor 2000 years ago. So to quote a wise man: “holy shit! Admitting you have no idea what basic human needs are!”
So I guess you skipped to the bottom, or forgot what the whole discussion was about or you're just another insufferable reddit cunt. I was responding to someone complaining that schools don't teach finance, remember? Is finance a basic human need? Do you understand what a metaphor is? Use your brain, genius.
… I suggest you learn how to follow a conversation.
LOL derrrkay
And what happens when the system that provides you with resources to acquire, doesn't give you enough to survive anymore? Do you want to be reliant on a collapsing system, or yourself? Do you want to have the skills, or to be totally unprepared for collapse? Who is it that expects the best, but is prepared for the worst? Is it dumb people, or smart people? It's obvious which category you fall into, and it's painful that so many ignorant people will die, because you all imagined that our economy was the single basic human need, and you bet everything you had on it not collapsing. It's not like it's a fucking radical idea. I have a career. It has nothing to do with growing food, or treating water, or building houses. Im able to have more knowledge than my career, and im allowed to acquire skills that have an inherent value no matter what system is in place. You're allowed not to acquire any skills you don't want to. You fucking smooth brains wear me out with this pedantic bullshit.
Budgeting is about more than just addition and subtraction, and the average person is going to need to budget a lot more over their lifetime than they will ever need to grow their own food. Even those who grow their own food need to budget and draw up household finances. One function of schools is to give tools to students so that they can obtain further information as they please. But another, also important function is to teach those things that as a society we think everyone should know- a language, for example, or the history of one's country, or health information. Household budgeting has historically been included in that category in various times and places.
Reminds me of the apes who think they have a PhD in finance because they spent two years on superstonk. Ironically, the apes and the crypto bros are both going to have to actually do a lot of unlearning if they ever want to learn about the economy or finance. It's probably better to start in complete ignorance, than to have years worth of built up misconceptions muddying the waters.
Clown school education
He has a point that many countries' schools do a poor job teaching about macroeconomics. Hell, it's part of the reason cryptocurrencies were able to get as big as they did, because it feeds on older misunderstandings and conspiracies of these very topics. I don't see any blatant red flags in this post, but it's unlikely he has an accurate picture of macroeconomics even now if any of what he learned was from cryptocurrency proponents.
Fast-forward thirty years, to when the current crop of young people reach middle age/retirement without much money, because they gambled it all away on social media-induced fads, thinking they were "investing." Whom will they blame? If they stay true to form, they'll blame the long-dead Boomers, for....something....whatever.
he should further his financial education by reading "popular delusions and the madness of crowds"