Still think TITNC3: Return of the Iceberg was peak

an entire semester long class on how the banking, finance, investment, and tax system works should be a mandatory class your senior year of high school. But then again, the system is built on people being financially illiterate so they spend more and incur more debt...so that will never happen

 

2nd is South side of Chicago.

Do you think the majority of those kids/adults got the same experience of listening to their parents discuss finances?

 

This is exactly the problem. The smarter or more advantaged kids will figure it out. The dumb or underprivileged never get a chance, because the rich need cheap bodies to keep their world turning

 

Nope. And I think that lack of parenting and mentoring is everything that is wrong with the US. If you want to rise up then pick yourself up and go for it. There's no where like the US where you are given that opportunity. Some, maybe most, don't take it. Is that a schools fault? Fuck no. It's an individual/family problem.

 

Back to stocks.

Futures just went red. lol

 

So walk it back to the root of the problem. What creates a Watts, CA or a South Side of Chicago? There's pockets of "similar" areas in every major city.

Lack of education, lack of infrastructure, and lack of adequate representation I would argue are the main culprits. If it was one or two cities in the US that had these types of issues, you could pass it off as a local thing, but it's endemic to nearly every major city in the US.

Fix the public education, and in a generation or two, you essentially fix the problem. But again, that's not good for business.

 

The more smarter people are the more the stonks go up. This is science

 

Let's look at the math. Google % of inner city kids graduate? The schools there man. The drive isn't. There are exceptions and you here about it all the time. But most would prefer to continue the cycle and do exactly what there parents did. Stay.

I went to middle school on the South Side of St. Pete, FL. It was the ghetto for that area. I've lived it man.

 

Agreed. I'm just not convinced it is not a problem of their own making.

Put another way: 60% of people - the majority - figured out how to get their shit together.

If you want a solution to protect people from the consequences of their own bad decisions without harming the rest of us, that is going to be a very long wait for a train that never comes.

I disagree. Your early years are when you should be your poorest. You've had no meaningful time to earn and save.

Even 40 year olds can make a *lot* of headway in the 25 years before traditional retirement with some hustle and good habits.

 

So do we try and fix whatever it is that's causing the problem, or just write these kids off because they were born into the wrong place?


This is becoming increasingly difficult to keep this within the site rules, so I may have to leave it there lol

 

I think you'll be a big fan of this:

https://youtu.be/azq0S0DKS50

To your point: The public schools are government paid daycare, not educational institutions. The sooner one internalizes this, the better.

 

The drain of the 40% is much more concerning to me than the relative success of the 60%. Of that 60%, not all of them are living the high life just because they've got $5k aside from their SS to last them 30 years.

Averages are fickle, aren't they. That's why they're averages.

 

Which is exactly why my folks sent me to private schools which ultimately cost more than my college degree over the time I was in them.

The hill I will die on: Fix the schools, and you create a better standard of living for everyone in America.

 

As long as we keep it socio-economical we should be good.

What's the cause though? Look at any major city world wide and there is a ghetto. It's not just a US issue. It's a pretty interesting topic really.

 

And the US is MASSIVELY ahead in terms of quality of life than almost every other country. I mean shit is really, really fucked if you start looking at developing nations.

 

I wasn't. I was thinking Tokyo, Bejing, Moscow, London, Liverpool, Belfsat, Munich. First world baby.

 

Can’t be done. Math doesn’t work for everyone to have the good job and healthy retirement account.

 

I'm gonna nitpick that: Fix the education. The schools will never be fixed.

Looking back on my early life I ended up educated because my parents, like yours, gave a shit. They founds ways and resources outside of the public school system to ensure I received meaningful, advantageous education.

My point here is that I agree with you that better education will help (it won't be a panacea), and that the best path toward that is breaking the social convention that schools and education are synonymous. They aren't.

 

Beijing and Moscow are two separate PHD programs on wishful thinking of sustainable economic theory.

Tokyo has its shit together. London has the same problems most major US cities have. Same with Liverpool. I don't know much about Belfast. Munich has its shit together aside from a few fringe group problems.

 

It actually can work, but it requires people to not be greedy little shits, which is nigh on impossible.