You must log in or register to comment.
What a silly post…
First, where are you going to find a 8% treasury bond? Even a few months ago, when they were giving record yields, it didn’t even get close to that.
Second, if you borrow $3m with high interest rates (needed to get high yield treasurys) you’ll also pay a high rate on your loan. Duh.
So I know this is satire but I wouldn’t buy a us bond. I would much rather buy one from a stable country.
The US economy is like the most stable economy in the world. And they don’t double tax you, depending on where you live and the tax treaty.
We have had 2 assassination attempts on someone running for the highest public office in the country in 3 months. One of the people currently running for office who has a chance at winning tried lost the last election they were in and then tried to take over the government by force.
Our country is not stable.
I would much rather invest in a more stable country like Sweeden or Switzerland.
It’s almost like not starting a war in 500 years and being as neutral as possible lead to being a stable country.
Oh and 3 seconds on Google proves you wrong. Switzerland is the best and most stable economy and country in the world… again. https://www.usnews.com/news/best-countries/articles/2023-09-06/steady-switzerland-is-once-again-the-worlds-best-country
Sweet, I just need a small, interest-free loan of 3 million dollars and I’ll pay you back $10,000 a month for 300 months. Don’t believe me? Here, check out my credit report.
Credit report: trust me bro
The remaining $10000 will only be worth 2500 in 30 years time, assuming 5% inflation per year…
yeah i’ll get right on that
A treasury bond delivering 8% is probably one from a dangerous country to invest in.
US I bonds were at like 9 back in 2022.
I too would like to make 2024 investments at 2022 prices
Well, it fits.
I just walk to the 7/11 and buy a scratcher. I never win anything but I could make at least $100,000 in just one day!
I know you’re joking, but I used to work at a convenience store and the scratcher addicts were the most depressing part. I guess I should be grateful that the store I worked at wasn’t in an area where more depressing kinds of addicts would be around.
Dude it was depressing stopping off at the beer store on the way home from work for a 6pack so I could kick it and relax on the couch…
…and there’s be a group of blue collars going there to cash their weekly paychecks, buy a couple 40s and $50 worth of scratchers. They’d win $10, and buy $10 more worth of scratchers. Theys win a TICKET, get another and win nothing, then complain that they were “so close” to winning 10-grand.
Work at a rutters. had multiple guys who were serious come in with like 20 $1 and 5 $20 every other day. We had one guy who’d buy $100-$200 every visit (up to 3 times a day). Must’ve been in his 50s but he said his wife didn’t know. Scratch offs scare me now I’ve only ever seen one $1500 win but I’d only work part time so.
Am I reading that right that they’d spend upwards of $600 in a single day on a scratch-its?? Holy shit.
As far as I know, I would get told he already visited by people in 1st shift and he’d come in like 6 and spent $100-$200 then come back an hour later
I remember one day walking into a 7/11, in maybe 2002, and there were 2 guys in suits, totally dishevelled, collars undone, looking like they’ve been awake for 3 days, depression coating their faces, and they had a stack of scratch tickets that they were silently just scratching off.
The story I have in my head is that their business fell apart and this was some past ditch desperate attempt to save it with the little money they had left. I have no idea what actually happened but here we are 20+ years later and I still think about them occasionally.
That makes me think of the chinese guys that took cash from the bank they worked at to buy lottery tickets. The idea was to use the winnings to pay back the money and keep the rest.
They got lucky and it worked the first time. Then they decided to try again and lost.
https://en.m.wikipedia.org/wiki/Agricultural_Bank_of_China_robbery
gambling is a helluva drug
The one thing that going to a real casino taught me is that, despite what Hollywood would have us believe, casinos are not full of impeccably dressed classy people, but very old retirees that look like they only have a few years left to live, and disheveled men who look less well dressed than me in my PJs at home, who are gambling away large sums of money in a fit of anxiety and addiction.
Really depressing crap.
And yet Donald Trump still managed to lose money somehow, which should have really told us something about his supposed “business accumen”.
Oh yes. The bankruptcy of Trump’s casino was a thing to behold. I wish I could find the video of the people who worked with him back in the day as they all remarked as to just how absolutely ignorant he was about all aspects of both gambling and managing a casino.
Maybe he had some morals about it…
Trump has no morals.
For being a good sport I’m upvoting your comment to help balance it out:-).
Nope, 100% sarcasm.
I associate my time in Las Vegas mostly with elderly people with oxygen tanks, chain smoking while they put coin after coin in the slot machine. Just sad.
Vegas is a good place to go if your idea of a good time is eating and hanging around the pool. Other than that, it’s a glittering shithole in the desert built on the losses of prior visitors.
https://www.pinballmuseum.org/
Also, the Hoover Dam is nearby.
Hoover Dam and Valley of Fire State Park are both cool stops that aren’t too far away. I’ve never been to the Pinball Museum so I’ll have to check that one out next time.
Now you just hook your debit card to the machine and you don’t even have to put a coin in!
And they took the pull handles away because they can siphon money out of retirement accounts much faster if the
victimplayer only needs to press a button.That’s sad. Pulling the lever was such fantastic part of the experience. Now we can’t call them “One Arm Bandits.”
We use to live in a society.
Oh for real. Walking through a casino is like being immersed in despair and obsession. I find no enjoyment in it at all.
And smoke. Don’t forget about the smoke
The guy who started FedEx literally put his company’s payroll on a roulette table just to make enough to stay in business.
I know of a few small stores that owe their livelihoods to the local gambling addicts and the lottery machine. The entire business if dedicated to a few whales since selling snacks and coffee to randos didn’t work out and they would otherwise close. They even set up private rooms where they could sped the day scratching tickets as they would come in and blow and entire pay/welfare/retirement check.
The logic is always the same, “I’m up $500 today” not even calculating the losses and “I just need one big win”. People will farm gamblers like cattle.
A similar establishment by me also diversified into bongs. A wall of bongs, a wall of lottery, a wall of smokes, a locked case full of smaller smoke accessories, half a wall of cooler, and three tiny islands of “food.” It’s very bright and clean but also sad as fuck.
That’s really sad. It’s the equivalent of putting lab rats in a cage with a cocaine/amphetamine button.
Perfectly legal since the state owned the equipment being used to ruin lives.
I never understood the appeal of scratch offs, 100k? If you gotta dream, dream big, play the lottery
I won like $250 on the first scratch off I got with my boyfriend. Broke my reality, I want to try it one more time to see if we’d win anything but I gotta stay safe
The keno addicts at the bar i work at are wild. They just keep silently putting in money and watching the drawings. I prefer that to the ones who try to explain their strategies to me or complain that some number appears in every drawing. Or the guy who came in Wednesday night and kept betting $10 that the first pitch of every at bat of the Mets/Brewers game was gonna be a strike. It’s bleak.
“No, you don’t understand! I have an angle!”
Instant gratification is a hellava drug
I remember hearing a story like twenty years ago about a person that figured out that serial number were disclosing payouts. They would buy a bunch, find the winners, scratch them, then return the losers for their money back. I think I heard about it on a planet money or this American life ages and ages ago.
Who in their right mind is accepting returns of lottery tickets, scratched or not???
Store clerks who just want to get through their shift without committing battery upon their customers and are definitely not paid enough to deal with that shit.
I just quit after calling the police. Dude said they were too hard to scratch off and wanted his money back. Was dressed to the nines (as was his date), in a seedy movie rental store, trying to return lottery tickets by amicably dropping threats of coming behind the register.
I sure hope his date was impressed. Nobody else was.
Edit: also, this was about 20 years ago, so may very well have been a scam attempt.
Not paid enough to say “no refunds” but given the ability to authorize giving out money for unofficial reasons? If it’s unauthorized, then they’re essentially stealing cash and assuming an extremely high risk of getting fired to avoid confrontation.
I’ve never worked a gas station, but I’ve worked fast food and I would have been fired soooo fast if I were giving out unauthorized refunds. Maybe even prosecuted if the amount was large enough. I’ve seen people fired for less.
Since when have treasury bonds gone above 6%?
It’s like those educational explanations of compound interest I remember from childhood that tried to encourage you to save money. They would always start with 1 dollar and a savings account with 20% interest, and end up retiring as a millionaire.
I remember getting really frustrated as a young man when I decided to take that advice, and wasted hours looking for these mythical 18% return accounts.
Yep those 10 percent accounts got me laughed out of the bank. One banker did helpfully ask how much I made though. Actually that was what set off the laughing. At any rate that was the year I learned rice stretches any food. No relation I’m sure.
In college I was frequently hungry without any food. One of my friends said “buy a 20 pound bag of rice and you’ll never go hungry again”, and he was right. Idk how I forgot that, considering I was raised on beans, rice, and government cheese. I just needed someone to connect the dots for me.
Apparently this was a failed attempt at a joke.
https://www.crossingwallstreet.com/archives/2024/04/cws-market-review-april-2-2024.html
Oh, I get it now! 8%! How droll!
(What the fuck is he talking about?)
Three million is the joke, 8% is the hint that it’s a joke. It’s the same sort of satire that Lemmy frequently reposts. “I became wealthy with hard work, determination, and a small loan of a million dollars.”
If you only have $300,000, just buy an 80% treasury bond and you should be good.
How I became a Tech VP at age of 30
-
Wake up at 5am
-
Only take cold showers
-
Have a dad that owns a tech firm
-
Well, both of us are socialists (I can’t comment on the other person). We think about money in such a different way that any money joke about investment is going to lose it’s humor. I don’t understand it as a joke either, but I definitely understood the financial advice. He selected some large, relatively uncontroversial companies that will pay you part of the quarterly profits based on the number of stocks you own. Tbh I’d avoid the day trading and choose high dividend ETFs instead. $100k is still very out of reach for most people, but it’s a reasonable investing portfolio.
I get conflicting information about high dividend ETFs. Some people swear by them, others say they’re terrible or at least should be avoided. I’m too ignorant to know why either way :/
Many people in The US who are trying to save for retirement attempt to have fewer dividends since that becomes taxable income. They would prefer just a higher stock value and pay the taxes later when presumably they are retired and in a lower tax bracket. That premise is probably good but you never know how the government is going to change up tax rates in the future.
Thanks for the info!
By the nature of ETFs, you’re definitely going to make less income because your money gets put into an investment pool and returns are proportional. However it makes you less tied to the stock market, which is increasingly tied to a person’s ability to retire
Those are my main investments outside of my 401k from work, I was just curious about the high dividend ones but someone else answered what is going on there. Thanks for the info!
