There seems to be little talk on finance on leftist spaces. Like tf do I do? I finally saved a few thousand dollars. Now what? Buy a game? Go on holiday? Buy a phone? Fuck consumerism. I can yeeet it into a term deposit and earn like 1% return in my country with rates close to 0.

Thanks to living with my parents, and being unable to buy a house, my financial situation is stable. What do I do chapos? While I wholeheartedly am against the stock market, it appears to be the only viable tool for retaining money (outpacing inflation) in our late stage capitalism at the moment.

I guess what I'm asking is is there any leftist resources/ideas on finance in a capitalist world. Many thanks, a fellow distressed chapoist.

    • T_Doug [he/him]
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      4 years ago

      Yep, Day trading (esp with Options) is practically a Casino, and is very easy to get addicted to in the same way that sports gamblers or lottery addicts do.

      You may start off seeing massive earnings, but the longer you partake in it the more likely it is you'll lose everything. And remember that the house (BlackRock) always wins.

      I wouldn't say never try Day Trading (just as I wouldn't say never bet on sports, or buy lottery tickets) just don't do it with any more money you can afford to lose, or at all if you aren't confident in your self control.

    • Mrtryfe [none/use name]
      ·
      4 years ago

      Its speculative bullshit and I have to look at any leftists partaking in that with a real skeptical eye

    • TossedAccount [he/him]
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      4 years ago

      The Dow was designed to be a low-risk slow-growing index whose short-run volatility is supposed to be just noise, but the Dow's day-to-day oscillations have turned into a mood barometer for day-traders. That aspect is pure fanfiction, a grift enabled by the business press.