Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Anthony Bourdain on not having debt

wealthsimple.com

Post reply on HN
Print view View original

361–366 of 366 posts

Re: Anthony Bourdain on not having debt

#361

Post by bootload »

soVeryTired wrote: post #98
bootload wrote: post #97

Earlier quoted context omitted.

"In normal times, the Bank of England implements monetary policy by setting the interest rate on central bank reserves." thx @soVeryTired, plz excuse lack of financial knowledge. What is the definition of "reserves" ?

A bank's reserves are the funds it holds in its account in the central bank. Some countries require that a certain proportion of the bank's assets are held in reserve in order to be sure it can easily meet its short term liabilities (i.e. to safeguard liquidity). In that regard, the system is a little like fractional reserve banking. But the UK and Canada don't have reserve requirements at all. In general, the main c…

"A bank's reserves are the funds it holds in its account in the central bank."

Are those reserves (capital) fluid? From the tier-1 you refer I get the impression these are real physical assets and in flux. Interesting. How do the UK banks handle market runs? (I must read more about the banking system) In Aus major banks are government backed with minimal competition.

Re: Anthony Bourdain on not having debt

#362

Post by SpikeDad »

lap42 wrote: post #333
jchrisa wrote: post #261

Earlier quoted context omitted.

That's the American right propaganda sinking in. Times of higher tax burden have been economically more productive. It's already the government's money. Redistributive taxation is parsimonious use of funds. Great chart in here about USA tax burden being below average: https://taxfoundation.org/comparison-tax-burden-labor-oecd-2...

Right propaganda or freedom propaganda? You are entitled of what you've done, period. Anything above 10% is theft. "Times of higher tax burden have been economically more productive" -> this is just false, a falacy. Prove it somehow. Sweden was a very rich nation before high taxes, now it's just rich, net jobs after high taxation in 50 years is ZERO. They are just letting go now, cutting taxes more and more. I wonder…

Oops my ass. The US economy is not booming - the US stock market is artificially inflated because investment speculators are betting that companies are going to use this obscene period in time to take advantage and do whatever they want to increase corporate profits in further concentrate the wealth in smaller and smaller circles.

Re: Anthony Bourdain on not having debt

#363

Post by SpikeDad »

tinco wrote: post #344
rajacombinator wrote: post #341

Earlier quoted context omitted.

I think this post was meant in sarcasm but sadly it is a more accurate reflection of the world...

I meant it as hyperrealism. It's not really constructive, just venting a little frustration with people calling me naieve.

You meant is a your utopian society. People who can make money can survive. People who can't are left to die. People who can protect themselves can survive. People who can't won't.

See people cheering the cutting of funding for Meals on Wheels make me want to vomit.

Re: Anthony Bourdain on not having debt

#364

Post by braveo »

esrauch wrote: post #292
braveo wrote: post #290

Earlier quoted context omitted.

You're only 1/2 way away from slave labor at that point. And when you factor in other taxes, you pay more than 50%, it's too much. And if I choose not to pay those taxes, my freedom is taken away, so don't tell me the slave point is invalid.

His point is that the same things apply to 30% tax: you are only 2/3 away from being a slave, if you don't pay your 30% your freedom is taken away. There isn't a rational difference between 30 and 50, the only difference is "I feel that it is too much", right?

There is absolutely a rational difference between 30 and 50%.

Re: Anthony Bourdain on not having debt

#365

Post by esrauch »

braveo wrote: post #364
esrauch wrote: post #292

Earlier quoted context omitted.

His point is that the same things apply to 30% tax: you are only 2/3 away from being a slave, if you don't pay your 30% your freedom is taken away. There isn't a rational difference between 30 and 50, the only difference is "I feel that it is too much", right?

There is absolutely a rational difference between 30 and 50%.

The numbers are clearly different, but not in the "one is slavery and the other is not" kind of way right?

Re: Anthony Bourdain on not having debt

#366

Post by braveo »

esrauch wrote: post #365
braveo wrote: post #364

Earlier quoted context omitted.

There is absolutely a rational difference between 30 and 50%.

The numbers are clearly different, but not in the "one is slavery and the other is not" kind of way right?

We as a society went to war with companies over how much time they can require of us. Nowadays companies can only require us to work roughly 23% of the hours in a week.

50% is 84 hours/week, we as a society have already deemed the difference between those to be significant enough to fight about.

The difference between 50% of your income and 30% of your income is significant.

Post reply on HN