Inflation : 40 Year High

[nuckin_futz]

1 minute ago, thedestroyerofworlds said:

I wish more people could see that, and vote out politicians who continue to push voodoo economics as a major policy.  We all know that those politicians are going to continue to push the voodoo, and the rubes are going to lap it up.  

As George Carlin said "Think about how dumb the average person is, then realize half of them are dumber than that".

 

Politicians know people are dumb and prey upon them. Remember how many were so pleased Trump gave them a tax cut? Well maybe they should read the fine print. The wealthy and corporations keep their tax cut forever. The average schmuck's tax cut expires in 5 years.

 

The powers that be want the population kept stupid. @Boudrias is always a big proponent of financial education in high school but it will never happen. Those running the show don't want a financially educated population. They want obedient tax mules.

[Elias Pettersson]

9 hours ago, nuckin_futz said:

As George Carlin said "Think about how dumb the average person is, then realize half of them are dumber than that".

 

Politicians know people are dumb and prey upon them. Remember how many were so pleased Trump gave them a tax cut? Well maybe they should read the fine print. The wealthy and corporations keep their tax cut forever. The average schmuck's tax cut expires in 5 years.

 

The powers that be want the population kept stupid. @Boudrias is always a big proponent of financial education in high school but it will never happen. Those running the show don't want a financially educated population. They want obedient tax mules.

I always wondered why they didn’t teach finance in high school.  Specifically, how to make money and invest it.  My chemistry and calculus classes haven’t really helped me in my life after university. However, when I got into the real world and learned about real estate and the stock market that’s when my life changed for the better.  

 

My buddies who got degrees in finance and business work 9-5 jobs and can barely afford their mortgage payments. In contrast, my buddy who barely passed high school and became a longshoreman bought his first house at age 20 and now owns 8 homes and is a multi millionaire. 

 

I wish the government would mandate financial eduction in high school, but like you said they want obedient poor tax mules so they can tax them at the highest marginal tax rates until they die.

Edited May 19, 2022 by Elias Pettersson

[Boudrias]

9 hours ago, Elias Pettersson said:

I always wondered why they didn’t teach finance in high school.  Specifically, how to make money and invest it.  My chemistry and calculus classes haven’t really helped me in my life after university. However, when I got into the real world and learned about real estate and the stock market that’s when my life changed for the better.  

 

My buddies who got degrees in finance and business work 9-5 jobs and can barely afford their mortgage payments. In contrast, my buddy who barely passed high school and became a longshoreman bought his first house at age 20 and now owns 8 homes and is a multi millionaire. 

 

I wish the government would mandate financial eduction in high school, but like you said they want obedient poor tax mules so they can tax them at the highest marginal tax rates until they die.

My son spent 9 years in school to become a dentist. Not to say he doesn’t make good money but his high school bud became a plumber and was making good money as an apprentice in 2 years. 7 years of lost income. 

[bishopshodan]

3 minutes ago, Boudrias said:

My son spent 9 years in school to become a dentist. Not to say he doesn’t make good money but his high school bud became a plumber and was making good money as an apprentice in 2 years. 7 years of lost income. 

Is that the law of diminishing returns?

 

My bro -in-law became a dentist through the military. He had was already making a salary, no debt, when he left service. Opened his own practice and started investing and developing real estate. Now a very, very rich man. 

 

You're right though. Trades like plumbers make bank and are in demand. My dad was a plumber/contractor before he became a real estate agent. 

[johngould21]

9 hours ago, Elias Pettersson said:

I always wondered why they didn’t teach finance in high school.  Specifically, how to make money and invest it.  My chemistry and calculus classes haven’t really helped me in my life after university. However, when I got into the real world and learned about real estate and the stock market that’s when my life changed for the better.  

 

My buddies who got degrees in finance and business work 9-5 jobs and can barely afford their mortgage payments. In contrast, my buddy who barely passed high school and became a longshoreman bought his first house at age 20 and now owns 8 homes and is a multi millionaire. 

 

I wish the government would mandate financial eduction in high school, but like you said they want obedient poor tax mules so they can tax them at the highest marginal tax rates until they die.

Teachers already have too much on their plates. Parents want full time baby sitting which they think school is. Parents wonder why teachers have so many pro d days, which are mandated. Parents want them to teach their kids life education. Teachers pay out their own pockets many supplies etc., that aren't funded by school districts. Parents want teachers to coach school sporting events and all other activities. Are you saying this should be a course in the school system, such as Math, English, or Science?

[Boudrias]

6 minutes ago, bishopshodan said:

Is that the law of diminishing returns?

 

My bro -in-law became a dentist through the military. He had was already making a salary, no debt, when he left service. Opened his own practice and started investing and developing real estate. Now a very, very rich man. 

 

You're right though. Trades like plumbers make bank and are in demand. My dad was a plumber/contractor before he became a real estate agent. 

Actually my son and I went to a recruiting office in Edmonton to see if he might join and get his dentistry paid for. As you are saying he would be paid to learn, get his degree but then had to serve for 4 years which was the end of his interest. He did it on his own. 

[johngould21]

12 minutes ago, Boudrias said:

My son spent 9 years in school to become a dentist. Not to say he doesn’t make good money but his high school bud became a plumber and was making good money as an apprentice in 2 years. 7 years of lost income. 

My Nephew and his wife are both dentists. Years of university, years of studying, but, they don't need a tag day at all. If anyone is looking for a great career, I'd recommend the building trades here in BC. Most red seal journey folks make close to $50 an hour or in some cases more.

[johngould21]

2 minutes ago, Boudrias said:

Actually my son and I went to a recruiting office in Edmonton to see if he might join and get his dentistry paid for. As you are saying he would be paid to learn, get his degree but then had to serve for 4 years which was the end of his interest. He did it on his own. 

The US has programs like this as well. My US nephew went through University, and the military for his degree in Ophthalmology, which he had to serve 4 years on military bases (Air Force), which he did. Is this similar to what is offered in the Canadian military? Are kids who sign up off the street given this opportunity in our military? 

 

[bishopshodan]

10 minutes ago, Boudrias said:

Actually my son and I went to a recruiting office in Edmonton to see if he might join and get his dentistry paid for. As you are saying he would be paid to learn, get his degree but then had to serve for 4 years which was the end of his interest. He did it on his own. 

True.

Gotta say, my bro-in-law is the best dentist I have ever been to. Fast and gentle, he credits all the practice he got in the army.

[Elias Pettersson]

40 minutes ago, Boudrias said:

My son spent 9 years in school to become a dentist. Not to say he doesn’t make good money but his high school bud became a plumber and was making good money as an apprentice in 2 years. 7 years of lost income. 

My cousin did the same thing. After he left UBC he had a student loan of $200,000 that needed to be paid off. 
 

He started working as a dentist with an older guy.  5 years later he is still paying off his student loan. He’s renting a townhouse with his wife as they couldn’t afford to buy anything. He finally saved some money but now the prices are too high and he can’t afford to buy the townhouse he is living in. His wife is also a doctor. Pretty sad. 
 

Meanwhile my other cousin never went to university, is an electrician and owns 2 properties. 

[Elias Pettersson]

39 minutes ago, johngould21 said:

Teachers already have too much on their plates. Parents want full time baby sitting which they think school is. Parents wonder why teachers have so many pro d days, which are mandated. Parents want them to teach their kids life education. Teachers pay out their own pockets many supplies etc., that aren't funded by school districts. Parents want teachers to coach school sporting events and all other activities. Are you saying this should be a course in the school system, such as Math, English, or Science?

Yes that is exactly what I am saying. When I was in school we had a choice of electives in grades 11 and 12. At the very least a financial education course should be an elective in high school. And it should be mandatory for first year in university. 
 

A big reason why people are poor is because of a lack of education. Obviously a lot of people can’t afford to go to university so that is why financial education should at the very least be an elective course in high school. 

[Warhippy]

2 minutes ago, Elias Pettersson said:

A big reason why people are poor is because of a lack of education. Obviously a lot of people can’t afford to go to university so that is why financial education should at the very least be an elective course in high school. 

That is not true at all.  

 

You just spent an entire page+ agreeing with people that trades as opposed to post secondary is the most viable way to start earning now.  And it is.  The issue there is that most trades individuals are not well educated.  They are good with their hands though and can do the basic math.  By your standards they should be...poor.  People are suffering due to a stagnation in wages, the endless divide between the rich and the poor.  Government and financial institutions that were created to help them but now keep them where they are as good little tax numbers.

 

While they toil away and get nowhere due to the endless escalation of housing prices, food, fuel and everything else.  They are also incredibly well educated.  Many individuals; as someone stated leave university with hundreds of thousands of dollars of debt.  They then can not find jobs in their feidls because our education centres in post secondary institutions do not prepare them for the eventuality that jobs don't exist in their fields.

 

To claim a big reason why people are poor is a lack of education when some of the fastest and highest earners are in fact people with no post secondary education by your own admission is a farce at best.  We live in a system of capitalism that has shifted from giving people the dream to ensuring they never profit from it.  Those that do find they are given every opportunity to continue profiting by exacerbating the issues that exist to keep people down.

 

So let's not jump in to such myopic and honestly ridiculous beliefs that a mere lack of education is why people are poor when working professionals making $70k or more can not afford housing in this nation.

[Gurn]

Parklands Secondary School in Sidney B.C.

Grade 11, I signed up for a Home Economics class.

Turned out to be about teaching teens how to cook- no economic component at all.

Now learning to cook is a good thing, yet I felt more than a bit misled.

[johngould21]

10 minutes ago, Elias Pettersson said:

Yes that is exactly what I am saying. When I was in school we had a choice of electives in grades 11 and 12. At the very least a financial education course should be an elective in high school. And it should be mandatory for first year in university. 
 

A big reason why people are poor is because of a lack of education. Obviously a lot of people can’t afford to go to university so that is why financial education should at the very least be an elective course in high school. 

I know many folks who will totally disagree with this statement. You're confusing people who have a lack of education to those I know who have done very well with limited education. ie: not finishing high school. They own their own companies, and earn excellent money. Plus, they work hard for that money and lifestyle. 

[Gurn]

Think people are missing the "financial' education part  despite E.P mentioning repeatedly.

The quote of him is probably the only time he didn't put 'financial' in front of education.

[Elias Pettersson]

14 minutes ago, Warhippy said:

That is not true at all.  

 

You just spent an entire page+ agreeing with people that trades as opposed to post secondary is the most viable way to start earning now.  And it is.  The issue there is that most trades individuals are not well educated.  They are good with their hands though and can do the basic math.  By your standards they should be...poor.  People are suffering due to a stagnation in wages, the endless divide between the rich and the poor.  Government and financial institutions that were created to help them but now keep them where they are as good little tax numbers.

 

While they toil away and get nowhere due to the endless escalation of housing prices, food, fuel and everything else.  They are also incredibly well educated.  Many individuals; as someone stated leave university with hundreds of thousands of dollars of debt.  They then can not find jobs in their feidls because our education centres in post secondary institutions do not prepare them for the eventuality that jobs don't exist in their fields.

 

To claim a big reason why people are poor is a lack of education when some of the fastest and highest earners are in fact people with no post secondary education by your own admission is a farce at best.  We live in a system of capitalism that has shifted from giving people the dream to ensuring they never profit from it.  Those that do find they are given every opportunity to continue profiting by exacerbating the issues that exist to keep people down.

 

So let's not jump in to such myopic and honestly ridiculous beliefs that a mere lack of education is why people are poor when working professionals making $70k or more can not afford housing in this nation.

Oh I agree with this 100%. I just spent the last page talking about how my dentist cousin can’t afford to buy a home. 
 

Let me clarify. When I say a lack of education I don’t mean the stuff you actually get taught in school. FINANCIAL education is the key to making money. Not learning about calculus and chemistry. 
 

I know lots of people with masters degrees from UBC who are still renting and don’t even own a home. If I had a kid right now who was in high school I would push them towards getting their trades license and get out there right away and start making money. I would tell them not to waste their time getting a bachelors degree at UBC. 

[Elias Pettersson]

2 minutes ago, gurn said:

Think people are missing the "financial' education part  despite E.P mentioning repeatedly.

The quote of him is probably the only time he didn't put 'financial' in front of education.

Thanks for the clarification. Yes that is exactly what I meant. 

[Elias Pettersson]

12 minutes ago, johngould21 said:

I know many folks who will totally disagree with this statement. You're confusing people who have a lack of education to those I know who have done very well with limited education. ie: not finishing high school. They own their own companies, and earn excellent money. Plus, they work hard for that money and lifestyle. 

Yes I totally agree. FINANCIAL education, i.e. learning how to make money, is the key to success in life. 

[Elias Pettersson]

23 minutes ago, gurn said:

Parklands Secondary School in Sidney B.C.

Grade 11, I signed up for a Home Economics class.

Turned out to be about teaching teens how to cook- no economic component at all.

Now learning to cook is a good thing, yet I felt more than a bit misled.

Haha, we had a home economics class in high school as well. And yes it was a cooking class. I had a few buddies take it as they needed an easy elective. Most of them failed the class.  

[Warhippy]

9 minutes ago, Elias Pettersson said:

Oh I agree with this 100%. I just spent the last page talking about how my dentist cousin can’t afford to buy a home. 
 

Let me clarify. When I say a lack of education I don’t mean the stuff you actually get taught in school. FINANCIAL education is the key to making money. Not learning about calculus and chemistry. 
 

I know lots of people with masters degrees from UBC who are still renting and don’t even own a home. If I had a kid right now who was in high school I would push them towards getting their trades license and get out there right away and start making money. I would tell them not to waste their time getting a bachelors degree at UBC. 

Financial literacy is not something that can truly be taught though.

 

Live within your means

Don't buy it if you can't afford it

Save what you can if you can

Here's how you do your taxes

 

Anything above and beyond that from RESP/RRSP and mutual funds can essentially be done through your bank who will be more than happy to explain things to you like a 5 year old to ensure you understand why they want your money.  Financial literacy while important is still not going to be as important as simply living within your means or not listening to the barrage of "CONSUME" ads and lifestyle suggestions.

 

The fact is, we're all conditioned to spend, consume and if you don't the economy dies.  That's the cycle you have to educate people on avoiding.