News/Interesting Stories/Beautiful Pictures from Europe ๐ช๐บ
(Current banner: Thunder mountain, Germany, ๐ฉ๐ช ) Feel free to post submissions for banner pictures
(This list is obviously incomplete, but it will get expanded when necessary)
Also check out !yurop@lemm.ee
Why the fuck is it legal to gamble with worker's retirement funds in the stock market?
Putting pension funds into safe long-term stocks & bonds is very normal.
I guess Tesla is no longer considered safe.
That's the problem. It shouldn't be normal.
You can see the alternative in Germany. A considerable amount of tax money has to go into the pension fund just to keep it alive. It's the biggest part of our budget!
To be fair a large part of that is the ridiculous assumptions built into the system from the start, as far as I recall they assumed something like an 18% population growth from generation to generation as a minimum. This obviously won't work if you have past giant generations retiring at times when the current generation is much smaller.
Would you prefer pensions to lose most of their value to inflation?
Would you prefer to they lost their value due to some rando picking the wrong stock, or from a total market collapse?
That's why the stocks aren't picked individually at all. They are picked in the opposite way to ensure that no single stock, industry, country can cause a total loss. By this diversification investing into stocks is for example safer than keeping the money in the local economy, as it introduces some decoupling from the economy of the country of the fund and the funds value. Meaning it can still pay out money (introduce value) even if there's a local collapse, as such it's a stabilizing force for the economy.
Regarding a total collapse, you'd need to specify what you mean exactly. The term is just to wide to discuss and address concerns.
The point is parasites are gambling with, and profiting from, assets that were aquired through other people's labor. It's often mandatory for blue collar workers, and if they don't want participate, they're penalized for withdrawing their money.
If this offends you, I don't care. This entire "industry" is parasitic, and immoral. And so are the people who defend it.
If you think all investing is parasitic gambling and aren't willing listening to arguments I'm sorry for you.
I'm noy offended by other opinions and I'm willing to change my position (although of course that will require lot's of points for such strong positions).
Just calling something bad without elaborating is not a useful addition to any discussion, so if you don't want to argue actual the actual merits of your opinion you won't convince anyone, you'll just get positive feedback from people tyat already have your opinion. So, I guess, enjoy your bubble?
A total market collapse and after that the economy does not recover? I guess we will have more serious problems than pensions then. These funds are highly diversified. It's not like they gamble all on one company.
And how would you suggest seeing a return on retirement savings?
obvious. By the magic of an ever increasing population in an ever growing economy. That worked super well between 1950 and 2000 when the populations grew by something between 50 and 200% in most western nations. Its just the people today not wanting to work 5 jobs and raise 4 kids that ruin it.
The German model ๐คฎ
What would you do with it? Just let it sit there and have it eaten by inflation?
Dropping Tesla shares sounds like a good choice not only for pension funds. I'd trust they'd drop them even if they weren't joining the labor crisis
And all that by taking massive profits probably
After Twitter, letโs sink Tesla. Iโm in!
Hilarious!
Musk has previously called the Swedish strike "insane". His company has stood by its policy of not agreeing to collective bargaining and said that its employees in Sweden already have similar terms to what their union has called for.
He still doesn't get it, does he?
Having a union agreement is not about the compensation. It's about the right to negotiate the working terms.
His employees everywhere, do not have the right to negotiate anything.
They do not have similar terms, even if he pays more and makes pizza parties. It's not about that at all.
It's not about money. He has enough of that. The Swedish employees have enough of that. It doesn't matter what the compensation is. It's all about the rights to have a say in your own employment. He won't give that away, because he wants to rule like a dictator.
I hope that some day he will understand it. But I will not be disappointed if he decides to fuck off out of Europe altogether, because he's not at all fit to run a company here.
And he said
I disagree with the idea of unions. I just donโt like anything which creates a lords-and-peasants kind of thing.
By not having unions, he exactly creates the lords-and-peasants kind of thing.
There are no class differences! You're not workers, you're the same as me, the billionaire emerald mine kid. Why would you make yourself feel less by being in some kind of lords-and-peasants union? Wow I'm so smart!!
Fuck I hate this piece as shit and I hope he just dies soon.