I recall you mentioning at one point that your sphincter was tightening up. 😂 I hit a low on October 12th at -12.5% and that was uncomfortable. I was feeling some pain at that point. I have since rebounded to -3.6%. The loss would be less if I included my cash hoard in the results.Well that's the thing. Slowdowns are supposed to hurt investors. There hasn't been a wipeout and capitulation.
As you know I'm pretty risk averse and even with all these losses, this still feels like "nothing" to me. It should be much more painful and agonizing.
IMO the central banks have not tightened conditions nearly enough yet. Even the leveraged people are trying to get back in, already.
Private companies can spend their money any way they want. It is their money. Just like you can spend your money any way you want without question. As for public companies, I have a choice whether or not I want to be a shareholder.Even small businesses waste money, I worked for a small business of less than 40 employees and we went for a dinner with potential clients, we were a total of 7 people (including the potential clients) and the bill was over $1,000. At my job the Christmas party costs $50,000 for about 400 people present.
Also, have you ever seen a Silicon Valley IT big corp? There's stuff you won't ever see at the government: paid daily snacks, paid daily lunch, paid weekly alcohol, free arcade games in the office, relaxation rooms with huge aquariums, etc. Now the executives of those big corps move by private jet, nice hotel rooms, expensive dinners, etc.
Don't get me wrong, the government is highly inefficient, archaic and wasteful... As much as most very old business with hundreds of thousands of employees. As much as any big corp with too much money. I've also worked for some of the big banks and big insurance companies in Canada, you'd be scared how inefficient and wasteful they are, because they have so much money.
Also, when you donate money to food banks or any other charity, do you know how much of that money is wasted towards salaries and administrative costs and so on?
I am not sure why you are talking about oligopolies, smart phones and private healthcare. Maybe you're a civil servant?? That's a lot of smoke and mirrors in response to my original comment.They can manipulate the price as much as they want with the oligopoly. Please recall the bread price-fixing scheme in Canada. And that's only bread! That's a "tax" on the customers.
Android OS has 72% market share and iOS has 27% market share. They can do whatever they want with their price to squeeze more out of their customers while wasting "their money", or more realistically wasting the extra money they get from overpricing their customers, the money given by their customers.
The inefficiencies and the wasted money of the big 6 banks in Canada are priced back in fees to their customers. They don't care about being inefficient, it's the norm and anyways all Canadians use one of those banks.
All the waste and inefficiencies are priced in all those oligopolies that you are somehow forced to use because everybody has a smartphone, everybody deals with a bank, everybody has to buy food, etc. That's a form of "tax" from the economic system.
And when there's low taxes, instead of being taxed by the government, you get taxed by private companies through insurance. Sure, you can choose to skip insurance or be cheap on your insurance choice, and play the Russian roulette with your future because you won't have any support if you suddenly have to pay a $100,000 medical bill in private healthcare.
Yes, you have choice, the voice of the population is the choice through democracy. If the population wanted lower taxes, they'd vote for it, it's a democracy. Don't get me wrong, democracy has its flaws, but power through wealth is even worse.
Anyways, we're being off-topic here, this is not the politics thread.
Ahhhh, so you're in the income group you're complaining about. I suspect that even though you complain, you still take advantage of the RESP, RRSP, etc???How selling all my belongings would make a change? Voting for governments that want more efficient wealth distribution would make a change. I'm top 5% income......
I should vote left? You are the one complaining about that the high income earners, of which you are one by your own admission. I simply asked if you take advantage of RESP's and RRSP's. You didn't answer the question.Well then you should vote left for the NDP for instance.
See they drew the line for their dental care idea:
To access the money, families with a household income of less than $90,000 need to attest that their child does not have access to private dental coverage, they will have out-of-pocket dental expenses they plan to use the money for, and they will be able to show receipts.
Maybe if you voted more for the left, they would set limits to the use of RESP, RRSP, TFSA. But since democracy decided that those tools were available to everybody, then obviously I'll use them.
Look at what the centre-right Premier of Quebec did... Last spring he sent $500 to every taxpayer making less than $100k net (based on 2021 income tax). And now he'll send another $400 to those making between $50k net and $100k net (and $600 to those making less than $50k net). Basically, a couple with no kids making a total of $200k net income will have recieved $1,800 this year, while a single mom with 3 kids making $50k net income will have recieved $900 this year. That's what happens when people vote for those in favour of the rich, with vote-buying strategies and marketing to get the popular vote.
Look at what the centre-right Premier of Quebec did... Last spring he sent $500 to every taxpayer making less than $100k net (based on 2021 income tax).
If you're all about what democracy decides, why are you criticizing the right of handing out $500, or anything for that matter? Comes across as okay when it's convenient for you. CheersBut since democracy decided that those tools were available to everybody, then obviously I'll use them.