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(Twitter)   Charlie Kirk: Why don't poor people just buy stocks?   ( twitter.com) divider line
    More: Dumbass, endless war, selling arms, United Kingdom, shame, Isis, majority, Saudi, equation  
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2257 clicks; posted to Business » on 30 Dec 2017 at 12:02 AM (28 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



35 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest
 
2017-12-29 08:55:11 PM  
Original Tweet:

 
2017-12-29 08:58:12 PM  
Why are we suddenly posting this asshole's tweets? Is he paying Drew?
 
2017-12-29 08:58:45 PM  
That may take the cake for the dumbest thing I've seen on Twitter, and that's saying something.
 
2017-12-29 09:03:28 PM  
Never heard of this guy.  This is a very poor first impression.
 
2017-12-29 09:15:58 PM  
Some of us on the (relative) left are in fact doing so - with great caution.
 
2017-12-29 09:20:43 PM  
By the summer of 1929 housewives were investing spare change in penny stocks just so they could get into the market. When the dumb money gets in, the smart money gets out. Then the smart money goes back into the market later and buys stock in surviving companies cheap.
 
2017-12-29 09:26:18 PM  
Proof that Eagle Scouts can be dumbasses.
 
2017-12-29 09:45:09 PM  
Proof that you can be a rich Republican idiot and as gumless as a Chinese Post-It nNte (TM) knock-off.

Let them eat cake was brilliant by comparison. Cake was the doughy crap that baked on to the bake oven. It was technically "bread" of a very inedible and low quality. An alternative meaning of this French saying, which was misattibuted to Marie Antoinette by the Fake News, is brioche, a kind of higher-class artisanal sweet bread that the poor could not possibly have paid for. Cake, or gateau, or is a mistranslation for "caked on crap". Brioche goes in an entirely different direction. Both are devoid of common sense, compassion, awareness, and basic economical thought.

If it ain't woke, don't break it--as "fake news" or "damn-fool opinion".
 
2017-12-29 09:47:24 PM  
Wait, so, literally, "why can't poor people just buy more money?"

Has Chuckles been replaced by a liberal pretending to be a conservative in order to mock them?
 
2017-12-29 09:53:41 PM  
What makes this dumbass think that poor people buying stocks doesn't mean more poor people being screw the way small stockholders already are?

Poor people already own bazillions in stocks through pension funds and insurance companies and so forth. They may own almost as much as the rich. They are just the first to be screwed and the last to be paid. Also, they simply do not have enough money to make a living from stocks, bonds or savings.

When the interest paid on $10,000 is 0.1%, how many millions do you need to make $10,000 a year?

Let me do the math. $10 a year on $10,000. $10,000 a year ( pre-fees, pre balloon payment, pre-tax) on $10,000,000. Yup. Those are the "poor people" who own stocks, bonds and who get paid interest instead of seeing their savings and investments turn into a giant suck hole sinking fund.

You need $30,000,000 a year to be considered barely rich in New York City, says Chrystia Freeland, former NYC business and gossip journalist, now a Minister of the Canadian Government. A person who has personally met the Manhattan society people who look down on Donald Trump as a yahoo from Queens.

Read her book on Plutocrats and the Rise of the New Global Super-Rich, aka the New Post-Liberal, Post-Socialist Kleptocracy.
 
2017-12-29 09:54:24 PM  

dv-ous: Wait, so, literally, "why can't poor people just buy more money?"

Has Chuckles been replaced by a liberal pretending to be a conservative in order to mock them?


Are you suggesting a false flag operation or a hacked account?
 
2017-12-29 10:23:59 PM  

brantgoose: dv-ous: Wait, so, literally, "why can't poor people just buy more money?"

Has Chuckles been replaced by a liberal pretending to be a conservative in order to mock them?

Are you suggesting a false flag operation or a hacked account?


Only sarcastically. *shrug*
 
2017-12-29 11:30:14 PM  
Why don't dumb people just buy more brains?
 
2017-12-30 12:28:20 AM  
I have money in low-risk mutual funds and the like thru an automatic payroll deduction. Took a big hit during the crash, but it's come back and made up a little ground.  However, the average bloke like myself has a hard time just walking into a trading office and buying one or two or four shares of, well, anything. They don't have time for you.  You used to be able to deal directly with some big companies like Coca-Cola to buy shares, I dunno if that's gone away.  I guess there's e-trade and that stuff, but I just want to buy a few blue-chip stocks and let them ride, I don't wanna be a day trader.  What are my options, then?
 
2017-12-30 12:30:59 AM  

Any Pie Left: I have money in low-risk mutual funds and the like thru an automatic payroll deduction. Took a big hit during the crash, but it's come back and made up a little ground.  However, the average bloke like myself has a hard time just walking into a trading office and buying one or two or four shares of, well, anything. They don't have time for you.  You used to be able to deal directly with some big companies like Coca-Cola to buy shares, I dunno if that's gone away.  I guess there's e-trade and that stuff, but I just want to buy a few blue-chip stocks and let them ride, I don't wanna be a day trader.  What are my options, then?


Reincarnate into a rich family.
 
2017-12-30 12:31:15 AM  

Alphax: Never heard of this guy.  This is a very poor first impression.


From the little picture I see above (not gonna click on his twatter page or look further) he looks like a teen pencil-neck twerp, like James O'Keefe or Jared Kushner.
 
2017-12-30 12:58:01 AM  
gee, i'm so glad that guns and ammo are cheap and virtually untraceable these days.  I mean...its not like the poors have anything to lose by murdering rich elite assholes who tell them to go eat cake.....
 
2017-12-30 01:03:43 AM  
I remember when this was satire.

img.fark.netView Full Size
 
2017-12-30 01:16:36 AM  

Any Pie Left: I have money in low-risk mutual funds and the like thru an automatic payroll deduction. Took a big hit during the crash, but it's come back and made up a little ground.  However, the average bloke like myself has a hard time just walking into a trading office and buying one or two or four shares of, well, anything. They don't have time for you.  You used to be able to deal directly with some big companies like Coca-Cola to buy shares, I dunno if that's gone away.  I guess there's e-trade and that stuff, but I just want to buy a few blue-chip stocks and let them ride, I don't wanna be a day trader.  What are my options, then?


Ameritrade for buying stocks. If you think you can pick stocks (hint: you can't).

Vanguard for buying low cost ETF's, which have a proven track record of beating the market.

You're welcome.

disclaimer: don't take advice from randos on the intertubes.
 
2017-12-30 01:25:29 AM  
investment reality for 80%+ of the US workforce (note: if you make your primary income through other than 'wage' you are not a member of the workforce):

If you're in a real job with a real company you have a 401k that invests with a mutual fund.  but you have no real control over what it does.  you're just crossing your fingers that the money will be there when you retire and that whoever the company has contracted to manage that isn't farking you over.

if you work minimum wage or multiple part time jobs you have no investments of any kind and live paycheck to paycheck.  assuming you did somehow have any money to invest you would have no time to actually spend to manage it anyway.
 
2017-12-30 01:35:34 AM  
Fall out of a rich vagina.
 
2017-12-30 01:52:14 AM  
"The reason that the rich were so rich, Vimes reasoned, was because they managed to spend less money.

Take boots, for example. He earned thirty-eight dollars a month plus allowances. A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. Those were the kind of boots Vimes always bought, and wore until the soles were so thin that he could tell where he was in Ankh-Morpork on a foggy night by the feel of the cobbles.

But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that'd still be keeping his feet dry in ten years' time, while the poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet.

This was the Captain Samuel Vimes 'Boots' theory of socioeconomic unfairness."

/that's why poor people don't buy stocks
//cf. Terry Pratchett
 
2017-12-30 03:10:13 AM  
So now "the left" = "poor people"?

Nancy Pelosi is "the left." Hillary Clinton is "the left." Al Gore is "the left." George Soros is "the left."

None of those are "poor people."
 
2017-12-30 03:18:36 AM  

FormlessOne: Why are we suddenly posting this asshole's tweets? Is he paying Drew?


$5 a month just like the rest of us I reckon.
 
2017-12-30 03:30:41 AM  

Alien Robot: So now "the left" = "poor people"?

Nancy Pelosi is "the left." Hillary Clinton is "the left." Al Gore is "the left." George Soros is "the left."

None of those are "poor people."


if I were one of the rich elites, I'd be trying real hard to find a way to make sure that the bulk of poor people in this country have good reason NOT to murder bankers while they sleep, preferably using positive reinforcement to make that point happen.
 
2017-12-30 03:34:48 AM  

Any Pie Left: I have money in low-risk mutual funds and the like thru an automatic payroll deduction. Took a big hit during the crash, but it's come back and made up a little ground.  However, the average bloke like myself has a hard time just walking into a trading office and buying one or two or four shares of, well, anything. They don't have time for you.  You used to be able to deal directly with some big companies like Coca-Cola to buy shares, I dunno if that's gone away.  I guess there's e-trade and that stuff, but I just want to buy a few blue-chip stocks and let them ride, I don't wanna be a day trader.  What are my options, then?


If you go to Fidelity you can buy stocks directly.  They give you slips of paper for it, too.  They take cash and usually give a great discount.  Fidelity is located on the far side of the 7-Eleven, next to the Red Box.  You can't miss him.
 
2017-12-30 06:39:59 AM  
Uh, because they don't want to lose what little they have?
 
2017-12-30 07:35:31 AM  

Any Pie Left: I have money in low-risk mutual funds and the like thru an automatic payroll deduction. Took a big hit during the crash, but it's come back and made up a little ground.  However, the average bloke like myself has a hard time just walking into a trading office and buying one or two or four shares of, well, anything. They don't have time for you.  You used to be able to deal directly with some big companies like Coca-Cola to buy shares, I dunno if that's gone away.  I guess there's e-trade and that stuff, but I just want to buy a few blue-chip stocks and let them ride, I don't wanna be a day trader.  What are my options, then?


Go poke around Clark Howard's website.  I've heard him talk about companies where you can buy fractional shares and such starting out.  Here is the first hit I got.
http://clark.com/personal-finance-cre​d​it/investing-with-100-or-less/
 
2017-12-30 08:50:32 AM  
So in addition to his ridiculous point that poor people should just buy more money, he's also saying that ripping off future America in order to get richer now is a really nice result of that new tax law.
 
2017-12-30 10:25:23 AM  

brantgoose: What makes this dumbass think that poor people buying stocks doesn't mean more poor people being screw the way small stockholders already are?

Poor people already own bazillions in stocks through pension funds and insurance companies and so forth. They may own almost as much as the rich. They are just the first to be screwed and the last to be paid. Also, they simply do not have enough money to make a living from stocks, bonds or savings.

When the interest paid on $10,000 is 0.1%, how many millions do you need to make $10,000 a year?

Let me do the math. $10 a year on $10,000. $10,000 a year ( pre-fees, pre balloon payment, pre-tax) on $10,000,000. Yup. Those are the "poor people" who own stocks, bonds and who get paid interest instead of seeing their savings and investments turn into a giant suck hole sinking fund.

You need $30,000,000 a year to be considered barely rich in New York City, says Chrystia Freeland, former NYC business and gossip journalist, now a Minister of the Canadian Government. A person who has personally met the Manhattan society people who look down on Donald Trump as a yahoo from Queens.

Read her book on Plutocrats and the Rise of the New Global Super-Rich, aka the New Post-Liberal, Post-Socialist Kleptocracy.


FYI, the minimum account size at the biggest online broker is $1000 and the commission on buying a stock is under $5. Furthermore, the stock market has historically returned significantly more than 0.1%. Now I'm not saying it's necessarily a good idea to open an account if you have debt you could pay off, nor will it make you rich quickly, but what someone thinks is rich in NYC is not relevant to anything.
 
2017-12-30 10:37:33 AM  

SamFlagg: FormlessOne: Why are we suddenly posting this asshole's tweets? Is he paying Drew?

$5 a month just like the rest of us I reckon.


He's getting a hell of a lot more for his money than I am for mine, I gather.
 
2017-12-30 11:23:50 AM  

tdyak: Any Pie Left: I have money in low-risk mutual funds and the like thru an automatic payroll deduction. Took a big hit during the crash, but it's come back and made up a little ground.  However, the average bloke like myself has a hard time just walking into a trading office and buying one or two or four shares of, well, anything. They don't have time for you.  You used to be able to deal directly with some big companies like Coca-Cola to buy shares, I dunno if that's gone away.  I guess there's e-trade and that stuff, but I just want to buy a few blue-chip stocks and let them ride, I don't wanna be a day trader.  What are my options, then?

If you go to Fidelity you can buy stocks directly.  They give you slips of paper for it, too.  They take cash and usually give a great discount.  Fidelity is located on the far side of the 7-Eleven, next to the Red Box.  You can't miss him.


img.fark.netView Full Size
 
2017-12-30 12:31:13 PM  
He's just looking for someone to pump up his stock prices so he can sell for a nice profit.
 
2017-12-30 07:46:47 PM  

Ishkur: "The reason that the rich were so rich, Vimes reasoned, was because they managed to spend less money.

Take boots, for example. He earned thirty-eight dollars a month plus allowances. A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. Those were the kind of boots Vimes always bought, and wore until the soles were so thin that he could tell where he was in Ankh-Morpork on a foggy night by the feel of the cobbles.

But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that'd still be keeping his feet dry in ten years' time, while the poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet.

This was the Captain Samuel Vimes 'Boots' theory of socioeconomic unfairness."

/that's why poor people don't buy stocks
//cf. Terry Pratchett


I have long worn Converse All-Stars because I am extremely fashionable. Also, I can just walk into the discount clothing store and get a new replacement in my size, without having to try on lots of different shoes, for under $20. And I like them.

After I started reading Terry Pratchett, Vimes' explanation of my he wore thin-soled boots, because he could tell what part of the city was in through their soles, really hit home. I had been doing the same thing for years without realizing it.

CSB:
My stepdad was an unscrupulous a-hole, and he spent a lot of his time telling my relatives not to listen to anything I told them about him, because I was a drug-addict (which wasn't true).

Then a couple years ago he and his brother got in trouble from the SEC for their company's Pump & Dump stock fraud. But at least they weren't smoking the marijuanas!
 
2017-12-31 09:52:29 AM  
This is like my economics professor ranting that everyone NEEDS to invest their savings in CDs and the like. Apparently the interest rates (in Canada, mind you) being less than 1% mean that you would make 1$ in interest per 10,000$ invested.

We can all be well off if we're already well off, I guess.
 
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