A weekly thread to discuss financial matters - from personal all the way up to global.
Ground Rules
- Remember that we're all just Internet randos. Don't bet your life savings on a hot tip from this thread.
- Keep culture war in the culture war thread. Yes, global events may impact our personal finances, but that does not mean we have to incessantly harp on culture war aspects here. If you are going to discuss it, please stick to the practical impacts of it on an individual level.
- Be kind. Remember that everyone here comes from different circumstances. We all have different resources available and different risk tolerances.
- Don't let the perfect be the enemy of the good. Better is better. Celebrate people when they take a step up and work to move their finances in the right direction. Don't flame out because they haven't followed what you consider the optimal path. Everybody has to start somewhere.
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Notes -
Windfall taxes change the game though.
It means that in a bust cycle you lose money. But in a boom cycle they cap how much you can make. The gains go to the welfare state, the losses are paid by you personally. And no one will shed a tear because you are just an "evil, rich, oil company".
Here's a company with high exposure to European natural gas. Notice how their stock price is down by 70% over the last 10 years despite extraordinary prices in the underlying commodity. That's what windfall taxes do. They create a shortage while making sure that no one profits from that shortage. Because, in Europe, they want to make sure that no one gets rich, even when they provide a valuable service. Crab bucket mentality at its worst.
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