Let's talk about money - The Finance Thread

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  • DramatixDramatix Could be better. Joined: Posts: 4,582
    Reticently wrote: »
    The big danger with old editions/alternate texts is that there are still some courses that will assign problems from the book and you're kinda SOL if you don't have the exact book.

    Always a smart idea to attend your first class meetings before picking up any version of the texts. Professors know how scammy the text book industry is and most of them will be pretty upfront on Day 1 about what you really need for the course.

    I was actually going to buy my books tomorrow after work, but I'll definitely hold off until the first day of class.
    "Everyone in here has had someone who tried to convince them that they were sexually harassed, and you did not believe them because they were not cute."
  • twigstertwigster Joined: Posts: 585
    Dramatix wrote: »
    Reticently wrote: »
    The big danger with old editions/alternate texts is that there are still some courses that will assign problems from the book and you're kinda SOL if you don't have the exact book.

    Always a smart idea to attend your first class meetings before picking up any version of the texts. Professors know how scammy the text book industry is and most of them will be pretty upfront on Day 1 about what you really need for the course.

    I was actually going to buy my books tomorrow after work, but I'll definitely hold off until the first day of class.

    I think the college is required to keep a copy of every textbook in the library. You could either use that everytime you study or, OR, you could scan the textbook (takes a few hours) and have it on your computer.
  • Icy Black DeepIcy Black Deep Still training... Joined: Posts: 1,447
    My CC company which is mastercard has not made a cent of profit on me.

    For the record, the credit card company still makes profit by charging the merchant a percentage of your transaction.
    New Jersey
  • twigstertwigster Joined: Posts: 585
    Looks like everything is stabilizing. Fine with me, gives me more time to buy gold at a low price.
  • J-rideJ-ride OG Member Joined: Posts: 2,254 ✭✭✭✭✭ OG
    I think the market was just correcting, I don't think a full crash is happening. The market is still artificially inflated IMO by federal reserve pumping money into it. This will eventually cause a hard correction down the road, but I don't think we are sitting on a full crash yet. I lost about 1500 out of my retirement account, but I made the money back in some of my options calls. Since I am a new trader I have to do covered calls and I can't risk more money than I have so it forces me to cap my wins/losses. So far I have kept it in the black with options trading, but I play small time and just try to make small amounts here and there. I never risk too much and I play it pretty safe, getting greedy is how you get burned. My friend has made millions, but he literally studies the market 24 hours a day and he hooks me up with some good calls here and there. Full disclosure: I am just now starting to learn how the stock market works, and I am NOT claiming any expertise!
    Woman was created for our destruction, and it is from her we inherit all of our miseries.

    Aramis from The Three Musketeers
  • Jion_WansuJion_Wansu Joined: Posts: 6,148
    edited August 2015
    Now I know why Chase decided to cut their losses against me by canceling the debt rather than charging it off and sending it to a debt agency. They knew the markets are about to collapse again...

    Also anyone read the comments under these CNBC articles. For a minute I thought I was on SRK:

    http://www.cnbc.com/2015/08/24/stocks-plunge-in-historic-rout.html

    http://www.cnbc.com/2015/08/24/gold-steady-as-dollar-firms-china-stocks-eyed.html
  • J-rideJ-ride OG Member Joined: Posts: 2,254 ✭✭✭✭✭ OG
    Dramatix wrote: »
    Reticently wrote: »
    The big danger with old editions/alternate texts is that there are still some courses that will assign problems from the book and you're kinda SOL if you don't have the exact book.

    Always a smart idea to attend your first class meetings before picking up any version of the texts. Professors know how scammy the text book industry is and most of them will be pretty upfront on Day 1 about what you really need for the course.

    I was actually going to buy my books tomorrow after work, but I'll definitely hold off until the first day of class.
    There are many textbooks floating around torrent sites, if one was so inclined.

    Woman was created for our destruction, and it is from her we inherit all of our miseries.

    Aramis from The Three Musketeers
  • regulateregulate Bruv of bruvs Joined: Posts: 6,538 ✭✭✭✭✭ OG
    Yeah older editions are easier to come by. Theres a chinese site that has them up, but you have to pay to dl and screw all that.
    Never forget:
    Boel wrote: »
    phantom angel the kinda guy that eats a roll of dental floss so that he can slowly come to a shuddering climax as he pulls it out his ass

  • Ken34Ken34 a.k.a Mashima Taichi Joined: Posts: 7,127 ✭✭✭✭✭ OG
    edited August 2015
    J-ride wrote: »
    I think the market was just correcting, I don't think a full crash is happening. The market is still artificially inflated IMO by federal reserve pumping money into it. This will eventually cause a hard correction down the road, but I don't think we are sitting on a full crash yet. I lost about 1500 out of my retirement account, but I made the money back in some of my options calls. Since I am a new trader I have to do covered calls and I can't risk more money than I have so it forces me to cap my wins/losses. So far I have kept it in the black with options trading, but I play small time and just try to make small amounts here and there. I never risk too much and I play it pretty safe, getting greedy is how you get burned. My friend has made millions, but he literally studies the market 24 hours a day and he hooks me up with some good calls here and there. Full disclosure: I am just now starting to learn how the stock market works, and I am NOT claiming any expertise!

    I agree with this, every now and again a correction is needed to deflate the market because companies end up at some ridiculous valuations. i think the average S&P security before this downtrend was trading at 25x earnings which is pretty inflated, not as bad as china, but still not sensical. this is the perfect opportunity to BUY long if you were ever looking to enter the market. you will take a hit at first obviously because no one can guess when the bottom is, but overall you will gain more buying in times of weakness then buying when the market is bullish. i highly doubt this is a crash, there is nothing in the current US economy that is in a bad shape for us to go through a market crash, on the contrary the economy is actually in pretty decent shape, way better than it was in the 2008 crash.

    so far im down 800 bucks, but its my IRA so its not like i can touch the money till im 60 anyways, the market will recover so i know there are many gains to be had, i picked up some shares in Concophillips the other day, everyone is scared of oil companies because oil has been getting smashed, but if you buy a stable one with a good balance sheet like Chevron or exxon the gains will be immense once oil starts going back up.
    "True Strength is something Money and Credit cards cannot buy"
  • charlie88charlie88 Ya'll niggas gay. The Keving Gates kinda gay. Joined: Posts: 5,067
    regulate wrote: »
    charlie88 wrote: »
    What kind of schools are you going to where you have to spend a 1000 on books? Amazon is your friend rent the books and save money

    this semester all my classes went for the latest editions. No one had a decent used rate, in fact two were more expensive used than new. And these are books im going to actually keep and reference in the future.

    Granted I go to a community college I spent like 170 on books last year
    FC:1864 9258 8415
    PSN: Death_Loner_Kage
    Umvc3: Learning Viper...plays tron strange dante strider

    I am willing to play trade and embrace the suck
  • DramatixDramatix Could be better. Joined: Posts: 4,582
    I spent about $158.12 on books today - $96.73 at school today to purchase new versions of the books I needed for next week because the used copies were sold out, $23.70 on a book from Chegg which was $80-90+ on Amazon ($11.99 + $10.99 for shipping to receive it Monday), and on Amazon $37.60 for my last book ($24.71 + $12.98 for shipping). Thankfully, I made the decision to save my money overtime before school, but it's still a pain. Having FAFSA, I could've received a book loan, but unlike a book voucher which I've received at my old school, I'd have to pay the money back. My friend who was with me spent about $250+ on her books, and her boyfriend bought 10. On another good note, the professor did advise us sites on where to get the books for a cheaper price, because they understood how book-buying can be ridiculous.

    I had a feeling I'd experience the college struggles financially, but goodness. You also have to pay for printing, which isn't really a new concept. It's annoying because you have to put money on your ID to print, so when I placed $2 on my ID to print out a syllabus for my last class of the day ($1.10 for 11 pages), my professor gives out a syllabus, meaning I could've printed out the syllabus for my first class that morning.
    "Everyone in here has had someone who tried to convince them that they were sexually harassed, and you did not believe them because they were not cute."
  • regulateregulate Bruv of bruvs Joined: Posts: 6,538 ✭✭✭✭✭ OG
    a cheap laptop or tablet can cut down on senseless printing if your teachers allow them in class.
    Never forget:
    Boel wrote: »
    phantom angel the kinda guy that eats a roll of dental floss so that he can slowly come to a shuddering climax as he pulls it out his ass

  • DramatixDramatix Could be better. Joined: Posts: 4,582
    regulate wrote: »
    a cheap laptop or tablet can cut down on senseless printing if your teachers allow them in class.

    True. I have a printer at home I've yet to install, but my last two professors of the day don't really allow electronics in their class (well, the second one anyway). I'm already written a page and a half for my 10 page term paper, so I should have it done by Tuesday I remain diligent. None of my papers are due until the end of the semester, but I want to get it all done now.
    "Everyone in here has had someone who tried to convince them that they were sexually harassed, and you did not believe them because they were not cute."
  • Jion_WansuJion_Wansu Joined: Posts: 6,148
    Did you know that you can't redeem dollars for treasuries at banks anymore? Effective 2012. That means that the dollar isn't backed by anything at all, not even paper.

    Sarcasm is an insult. An individual utters an insult when he first realizes he is losing.

    An individual utters a second insult when it looks like he's going to come in second.

    The above quotes are posts from here:

    http://www.cnbc.com/2015/09/03/all-eyes-on-the-fed-big-jobs-friday.html
  • Ken34Ken34 a.k.a Mashima Taichi Joined: Posts: 7,127 ✭✭✭✭✭ OG
    today is the big day, this will give the markets an idea of if the Feds will move in 2 weeks. if the number is good, shit is about to go DOWN! stocks about to get destroyed!!! ....well thats what most think are going to happen anyways. i think when the feds actually move the markets will rally, but we 2 weeks away from their decision.
    "True Strength is something Money and Credit cards cannot buy"
  • RECESSIONTIMERECESSIONTIME Trumpologist Joined: Posts: 1,240
    Everyone on TV is blaming China but people in the know are aware that everything is based off the federal reserve bank in the U.S.

    If the fed says it will raise rates then we are in for a global financial crisis II

    If the fed says it will keep interest rates at zero or that QE4 is coming then I'm going to go balls deep in the stock market.

    Having said that I just want to point out how FUBAR things are. Literally everything is a terrible investment right now:

    -Stock market is tanking
    -education has too much debt
    -housing is bubbling and might pop soon in many metro areas

    Only smart thing to do in my opinion is to stay as liquid as possible and wait for a good deal. Gold/silver is not a bad idea either, will have to see what the Fed does.
  • Negative-Zer0Negative-Zer0 Joined: Posts: 9,704
    What books do you guys read to find this stuff out?
    “I was trying to take the easy way out by running away from everything. No matter the pain, I will keep living. So when I die, I'll feel I did the best I could.” - Koala
  • regulateregulate Bruv of bruvs Joined: Posts: 6,538 ✭✭✭✭✭ OG
    drudge, jpost, bleacher report,
    Never forget:
    Boel wrote: »
    phantom angel the kinda guy that eats a roll of dental floss so that he can slowly come to a shuddering climax as he pulls it out his ass

  • Ken34Ken34 a.k.a Mashima Taichi Joined: Posts: 7,127 ✭✭✭✭✭ OG
    What books do you guys read to find this stuff out?

    i know im about to get alot of flak for what im about to say...but....fuck it, i havent read any books, i just watch Jim Cramer's mad money on cnbc, i learned alot from him, as long as you dont follow his stock picks without doing your own research, hes a great listen. and if anything he says sounds like alien talk, i just go to investopedia.com and read up more on any technical jargen he said.

    one of his more informative episodes can be listened to here:
    http://castroller.com/podcasts/MadMoneyW/4559802

    another good site if you ever wanted to get into option trading, which is a little more advanced then just going long in stocks is www.hotstockmarket.com
    "True Strength is something Money and Credit cards cannot buy"
  • RECESSIONTIMERECESSIONTIME Trumpologist Joined: Posts: 1,240
    edited September 2015
    Haven't read any books. I am influenced by articles written by Zero Hedge and Peter Schiff's youtube reports but anyone that subscribes to Austrian economics (not Keynesian) is legit.

    Real talk, I don't have any time to read books as I work 45-50 hours each week and use my downtime to recharge. If I were to do some reading it would only be to brush up on my PUA game.
  • rcaidorcaido Dynamic Bayside Duo Joined: Posts: 8,419
    What's an average rate of return% to be getting on a Roth IRA?
    What is your magic number to retire?
  • Raz0rRaz0r Did you really just write that? Joined: Posts: 25,995 ✭✭✭✭✭ OG
    Everyone on TV is blaming China but people in the know are aware that everything is based off the federal reserve bank in the U.S.

    If the fed says it will raise rates then we are in for a global financial crisis II

    If the fed says it will keep interest rates at zero or that QE4 is coming then I'm going to go balls deep in the stock market.

    Having said that I just want to point out how FUBAR things are. Literally everything is a terrible investment right now:

    -Stock market is tanking
    -education has too much debt
    -housing is bubbling and might pop soon in many metro areas

    Only smart thing to do in my opinion is to stay as liquid as possible and wait for a good deal. Gold/silver is not a bad idea either, will have to see what the Fed does.

    You think the markets will crash if Feds raise rates? It's bullshit. It's all a bluff from big business to get super cheap loans forever. The market will survive. You actually get fucked when the borrowing rates are so low because you get less returns on your government-issued bonds, savings, etc.

    I'm not a market expert, but at least this much I know.
    This is offensive.
  • regulateregulate Bruv of bruvs Joined: Posts: 6,538 ✭✭✭✭✭ OG
    Starhammer wrote: »
    Some good news on my side:

    I recently found out that buying stocks has NO effect upon my disability payments. =) It isn't considered a job since there's no paycheck, no W-2's, etc. In other words, I can drop cash as much as I want into stocks without sacrificing my pay. About to be charging up that second cash flow like I'm about to drop dat Super Arts on 'em.

    -Starhammer-

    Does that include dividend payments from stock?
    Never forget:
    Boel wrote: »
    phantom angel the kinda guy that eats a roll of dental floss so that he can slowly come to a shuddering climax as he pulls it out his ass

  • Raz0rRaz0r Did you really just write that? Joined: Posts: 25,995 ✭✭✭✭✭ OG
    Probably not since you have to report your gains come tax time.
    This is offensive.
  • LightningBSLightningBS Joined: Posts: 269
    regulate wrote: »
    drudge, jpost, bleacher report,

    Bleacher report? Clearly I've missed something.

    I'll have to start digging through Flipboard on the everyday stock market bull.
  • StarhammerStarhammer The Laughing Man of SRK. Joined: Posts: 20,720 ✭✭✭✭✭ OG
    regulate wrote: »
    Starhammer wrote: »
    Some good news on my side:

    I recently found out that buying stocks has NO effect upon my disability payments. =) It isn't considered a job since there's no paycheck, no W-2's, etc. In other words, I can drop cash as much as I want into stocks without sacrificing my pay. About to be charging up that second cash flow like I'm about to drop dat Super Arts on 'em.

    -Starhammer-

    Does that include dividend payments from stock?

    Yes. That includes dividend payments from stock. I asked the lady on the phone that question directly and she said,"Nope. Stock markets aren't exactly a job. You'll probably end up with taxes, so make sure you pay them on time and we're cool."

    NOTE: probably should've said this in the first post, but the disability I'm talking about is my Military disability. Social Security Disability WILL be effected by money made in the stock market, so if you or someone you know is on that, plan accordingly.

    -Starhammer-
    Always think it's strange when black dudes accuse other black dudes of not being hood enough. Like isn't that a good thing?

    AV by Rick Ross.
  • Ken34Ken34 a.k.a Mashima Taichi Joined: Posts: 7,127 ✭✭✭✭✭ OG
    i hope the feds raise next week, we need to get this shit over with, im sitting on some cash hoping that some blue chip companies that depend on EM and china for earnings get crushed a little so i can come in a scoop them up.
    "True Strength is something Money and Credit cards cannot buy"
  • RECESSIONTIMERECESSIONTIME Trumpologist Joined: Posts: 1,240
    Ken34 wrote: »
    i hope the feds raise next week, we need to get this shit over with, im sitting on some cash hoping that some blue chip companies that depend on EM and china for earnings get crushed a little so i can come in a scoop them up.

    As much as I want this to happen, it is not likely to happen. Nobody thinks the fed will raise rates. The stock market is already a bear market at the moment raising rates would completely crash it. I'm glad I pulled out when I did, all my stocks have been nose diving for weeks since.
  • Jion_WansuJion_Wansu Joined: Posts: 6,148
    edited September 2015
    Should The US start printing $500 bills again

    800px-US-%24500-FRN-1928-Fr-2200g.jpg

    The Euro has €200 and €500 bills

    EUR_200_obverse_%282002_issue%29.jpg

    EUR_500_obverse_%282002_issue%29.jpg

    Also, the German Mark had 200 and 500 ones as well
  • twigstertwigster Joined: Posts: 585
    God fuck the price of Gold has jumped $17 per ounce today.

    And I haven't bought mine yet because my storage account still isn't set up :s
  • charlie88charlie88 Ya'll niggas gay. The Keving Gates kinda gay. Joined: Posts: 5,067
    twigster wrote: »
    God fuck the price of Gold has jumped $17 per ounce today.

    And I haven't bought mine yet because my storage account still isn't set up :s

    How much was it before hand?
    FC:1864 9258 8415
    PSN: Death_Loner_Kage
    Umvc3: Learning Viper...plays tron strange dante strider

    I am willing to play trade and embrace the suck
  • regulateregulate Bruv of bruvs Joined: Posts: 6,538 ✭✭✭✭✭ OG
    Aaaaand the FEDs didn't raise the rate. nothing to see here folks, keep moving all is well.
    Never forget:
    Boel wrote: »
    phantom angel the kinda guy that eats a roll of dental floss so that he can slowly come to a shuddering climax as he pulls it out his ass

  • J-rideJ-ride OG Member Joined: Posts: 2,254 ✭✭✭✭✭ OG
    edited September 2015
    I don't see the point in a 500 dollar bill personally. When I travel I have a hard time getting a 100 dollar bill broken, I have no idea what utility you would get out of a 500 dollar bill. You really can't make cash purchases on anything very expensive anymore without raising a red flag and people will then suspect you of shady business dealings/drug dealing. So it would be a bill that you could only use at a bank, and even then it would still be a huge hassle.
    Woman was created for our destruction, and it is from her we inherit all of our miseries.

    Aramis from The Three Musketeers
  • Ken34Ken34 a.k.a Mashima Taichi Joined: Posts: 7,127 ✭✭✭✭✭ OG
    charlie88 wrote: »
    twigster wrote: »
    God fuck the price of Gold has jumped $17 per ounce today.

    And I haven't bought mine yet because my storage account still isn't set up :s

    How much was it before hand?

    you can see the chart here : http://data.cnbc.com/quotes/@GC.1

    its been on a huge downtrend since mid 2012, coincidentially thats when the US equities started their record long bull market, the fact that gold is starting to rally now is a little scary honestly as it usually is inverse to the markets. could be indicating more pain to come for the markets.
    "True Strength is something Money and Credit cards cannot buy"
  • Jion_WansuJion_Wansu Joined: Posts: 6,148
    http://www.rt.com/op-edge/315952-federal-reserve-system-us/

    I like this quote from the article:
    ...The answer lies in the nature of our economic system.

    Money is fiat. This means that rather than our medium of exchange being anchored to something of value, it is anchored to nothing.

    In the US, currency is created by means of a deceit practiced between the Federal Reserve and the government. This procedure has some smoke, mirrors and complicated-sounding terminology attached to it, but the core mechanism is quite simple.



    In layman’s terms: the US borrows worthless currency into existence and then its citizens give real labor, goods and services in exchange for that worthless currency.

    Since this scam creates debt, and debt incurs interest, there has to be ‘growth’.

    To return to the heroin motif: the whole system is like a junky chasing a fix. When it gets one, it feels about as good as a normal person would feel without one.

    But then it needs another...

    Which is true