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let's talk about the differences between income, wealth, and class

tl;dr: income is earned, wealth is bought, and class is inherited

also hi friends, while on the topic of income, this work is my only source of it! times are tough and folks are really struggling, but if you have a couple extra bucks please consider sending a tip my way

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๐Ÿ’ต cashapp $rachokay

https://t.co/wGjQBJpWsW
INCOME is the amount of money a person makes from labor and investments

so if you work for 2,000 hours and are paid $40,000 in a year, that's income

OR if you have a $1,000,000 stock portfolio with a 5% return rate and cash out $40,000 of it, that's income too (fucked, right?)
WEALTH is the amount of capital you own

that could be owning a house and land worth $150,000

or owning a small business with $150,000 in assets

or owning $150,000 worth of stocks

wealth is the investments that are themselves accruing value
CLASS is about what you stand to inherit

in the united states we use a lot of weird doublespeak to avoid talking about the proletariat, the petit bourgeoisie, and the bourgeoisie directly

proletariat ~ working class
petit bourgeoisie ~ middle class
bourgeoisie ~ upper class
liberal categorizations of class are misdefined by income level (vs overall familial wealth). this happens because the bourgeoisie want the proletariat to believe class mobility is possible.

it isn't.
https://t.co/GEpWyuxuhQ
so when biden and cnbc are arguing whether a $400,00 income is "wealthy" or "upper middle class" they're actually both totally conflating a bunch of terms and misunderstanding the system

if you have $400,000 in income but no wealth, you aren't middle class. you're working class
frankly, even if you have $400,000 in income AND you have wealth, you aren't necessarily upper-class, because the inheritance of class isn't just capital and wealth--it's your connections. it's how many senators you have in your pocket. it's how many CEOs you can call on for help
that's why i say the only way to be in the bourgeoisie is to be born into it.

even if you make enough money to acquire capital and secure your wealth, YOU will never be bourgeoisie, because your parents weren't.
becoming filthy rich won't give you the advantages of having gone to a fancy boarding school and graduating from harvard. it won't give you the shared bourgeois cultural background.

you'll still dress wrong, talk wrong, enjoy the wrong things. they'll still see you as less-than.
at best you'll be like donald trump: a desperately self-conscious nouveau riche misfit

that's why the bourgeoisie have such an interest in obscuring who and what they are--they don't want you to realize you'll never become them, that their system is fundamentally nepotistic.
the only way to fix this problem is to do away with class altogether. and the only way to do away with class is to dispossess the bourgeoisie

capitalism only exists on the broken backs of working people. there are no good capitalists, just like there were no good slave masters.
but knowledge is also a kind of power, and i hope this thread will empower some of you to see through the smokescreen they've built for themselves.

they can't actually make us work. we can liberate ourselves. we can stop this by putting down our tools and refusing to cooperate.
@threadreaderapp unroll pls n thank u

More from Economy

1/ Trend Factor: Any Economic Gains from Using Information over Investment Horizons? (Han, Zhou, Zhu)

"A trend factor using multiple time lengths outperforms ST reversal, momentum, and LT reversal, which are based on the three price trends separately."

https://t.co/udkvsdw2Lz


2/ This resembles combining multiple measures of ST reversal, momentum, and LT reversal (forecasts determined by walking forward rather than using signs from the full sample).

Unlike normal moving average signals, these are *cross-sectional.* More below:
https://t.co/wkIFLg9jtK


3/ Unsurprisingly, the Trend factor formed by this approach outperforms benchmarks in terms of both Sharpe ratio and tail metrics. It's combining momentum with two factors that are negatively correlated to it AND using multiple specifications.

More here:
https://t.co/x8Tloz3iyL


4/ "Average return and volatility of the trend factor are both higher in recession periods. However, the Sharpe ratio is virtually the same.

"Interestingly, all of the factors still have positive average returns.

"Momentum experiences the greatest increase in volatility."


5/ "In terms of maximum drawdown and the Calmar ratio, the trend factor performs the best.

"The trend factor is correlated with the short-term reversal factor (35%), long-term reversal factor (14%), and the market (20%) but is virtually uncorrelated with the momentum factor."

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Simple and effective way 2 make Money


Idea 1:- Use pivot level like 14800 in case of nifty and sell 14800straddle monthly expiry (365+335) exit if nifty closes on daily basis below S1 or above R1

After closing below S1 if it closes above S1 next day or any day enter the same position again vice versa for R1

Idea2:- Use R1 and S1 corresponding strikes multiple
Incase of R1 15337 take 15300ce
N in case of S1 14221 use 14200pe
Sell both and hold till expiry or exit if nifty closes below S1 or above R1 around closing
If the same bounces above S1 and falls below R1 re-enfer same strikes

Use same criteria for nifty, usdinr and banknifty

(This is must)Use this margin rule for 1lot banknifty pair keep 4Lax margin
For nifty one lot keep 3Lax
For usdinr 100lots keep 4Lax

I bet you if you do this on consistent basis your ROI will be more than 70% on yearly basis.

Couldn't explain easier than this

Criticisms are most welcomed.