Greentext time Sup Forums

greentext time Sup Forums

>be my dad, early 1990
>don't like college ebn though in studying computer science, too much bullshiting hurts his soul
> have worked small time jobs since 13 so have car, decent trailer to live in
>humbled by childhood poverty, but knows hard work pays off
> be 1991 decide to drop out of college, fund his own "moving" business. (hard manual labor, plus he was the sole manager at the tim)
>gets started small, country size business, mainly to move equipment for other business.
>1992 business is booming because of hard work and professionalism, business contacts are recommending him to employees/residents
>business booms, life is good.
>buys house, gets married, has me and my siblings over the next 10 years.
>have enough money to hire 15 movers, 2 managers etc.
>Not massive business but he makes good money.
>bam comes 2008, the house bubble bursts
>directly affects his business because people aren't buying homes anymore, and if they get foreclosed can't afford professional movers.
>after 18 year of success, first bad year 2009,
>slowly business dies 2012
>has never broken any law,not even traffic tickets, never even touched illegal drugs.

Now he works a wage cuck job while trying to get the degree he never finished.
He is almost done but he works full time and does all that work, probably won't be able to get great job immediately and will have to climb the ladder now that he is in his mid forties.

Tell me, how is hard work is rewarded in the USA (murican dream) when you have fuckers in Wall street, banks, and investment firms/hedges fucking up things for hardworking honest people?

Other urls found in this thread:

gsa.gov/portal/content/101749
youtu.be/VDDCXDHj580?t=22m
twitter.com/SFWRedditGifs

Are you like 15? Get off this board reeeeee

im 22

His hard work was rewarded for 18 years. Only when people stopped wanting his services did his company go bust.

yes but it was the investment hedges banks that ruined the real state economy that fucked him.

So what? He benefited from the housing bubble and then crashed hard because he had no savings.

>Tell me, how is hard work is rewarded in the USA (murican dream) when you have fuckers in Wall street, banks, and investment firms/hedges fucking up things for hardworking honest people?

Businesses are tough to run in this country currently; especially small ones. The climate under Trump will change.

The old adage in business goes:
Location, location, location.

Had your father worked a contract deal with military, he'd be smoking a blunt while watching "Friends" reruns and counting cash. Starting a business is a matter of sniffing out where the money is, and following the trail.

gsa.gov/portal/content/101749

When the government reverses it's role as the primary location to seek employment from, you'll see the private markets open back up again.

They also made a lot of predatory loans
>hey you like this house goy uh guy!
>sign here guy!

he did have savings, he used most of it trying to save his business for 3 years. Now he uses the rest to pay for college for him and my younger brother, has to work to pay bills.

>The climate under Trump will change.

Proof? Not just him saying "I WILL MAKE, I WILL MAKE THE BEST DEALS FOR THE AMERICAN PEOPLE"

I have learned to not trust politicians and their lobbying.

SHit is rigged for Killary anyway, and it nothing would be different if trump won anyway since congress control this country more than the president.

yup

Would you say that we are in another bubble?

Housing has upped 20k in the city i live in...

>Guy starts a business
>No exit strategy
>No economic analysis with respect to the Case Schiller ratio to identify when something is in bubble territory
>Does not perform BCG Matrix analysis on the industry he's in as well as his business
>Literally no savings from his job
>Bad business practices all around

Shiggy diggy

>Its not my fault I didn't prepare my business to handle the 7-9 year macro economic boom & bust cycle

Are you retarded?

can you not read >he did have savings, he used most of it trying to save his business for 3 years. Now he uses the rest to pay for college for him and my younger brother, has to work to pay bills.

if you don't follow the fed you're a failed small businessman that deserves to go out of business.

Have my empathy, I can't offer you anything else.

Consider that the housing market bubble has been a massive market failure. It's not like Wall Street blew things up on purpose.

What's truly scandalous is that
a.) Banking is still not regulated to a satisfactory degree
b.) The failed speculators were bailed out afterwards. Not mortgage owners, not small businesses.
The very same fuckers that caused the turmoil got saved, despite their banks failing by market terms - Socialism for the rich.

If I we're American, I wouldn't know what to vote for. Trumps "policies" are illiterate bullshit. Clinton proposed some right stuff, like a tax on some speculative financial operations, but she's still a corporate whore.

I bet your own businesses must be booming

i dont know man

youtu.be/VDDCXDHj580?t=22m

Did not see when created.

So your dad never analyzed his income, cash flow, and balance sheet statements while comparing to the industry growth after a year to make the assessment his business is a dog?

I don't have any businesses. I work as a wage slave for a company that charges $300 an hour per person to go into organizations & provide assessments such as the one I just gave yo bitch ass.

When I do start my own business I won't be making these cockadoodee mistakes by ignoring my own income statement as well as the industry growth overall.

nice blog

>he didn't want to lose his 20 year old business ,basically his only way of life (not counting family)

I forgot MONEY IS THE ONLY THING THAT MATTERS.

PEOPLE ONLY GET SCREWED BECAUSE THEY'RE IDIOTS HAHA

FUCK THEM.

yup, things are fucked.

Don't have any.

>he didn't want to lose his business
>so he doubled down and wasted his money trying to sustain it instead of liquidating rather than selling out to start again to do something else in late 2009.

>People only get screwed because they're idiots

Can't disagree with that. Hedge yo bets, protect ya neck

In business, money is all that matters. Legacy means shit other than a springboard into other business, should yours go down. He needed to downsize or pivot to ride out the storm.

Not really; legacy can buy you customer loyalty.

>Proof? Not just him saying "I WILL MAKE, I WILL MAKE THE BEST DEALS FOR THE AMERICAN PEOPLE"

Well, first, Trump is not a politician. This is a bit of speculation, but if I'm reading him right, he's truly planning on making manufacturing an American venture again. If this is the case, jobs will open up and people will "go where the money is".

Depending on your father's business location and reach, this could mean company paid relocation services can become a "thing" again to the average worker, expanding that market. Until then, I highly encourage you to send your dad that link from my last reply. Get gov't contracts!!!

Short answer? Yes.

Long Answer:
Housing is no longer a fair gauge of GDP/economic progress in the country, though it's our de facto fallback to the "health" of our economy. If we had let the banks fail and sent the TARP funds to everyone with a mortgage 200k or less, we'd be much closer to absolving foreign investment of our national debt, and finally getting closer to recovering.

Instead, we used Quantitative Easing (QA) and TARP to prop up failed banking institutions (further consolidating the banks into major conglomerates - see JP Morgan and stock collapses of the 1900s). This is why I started hating Bush towards the end of his second term. He showed he wasn't a true conservative at that point.

Obama has carried this philosophy through another 8 years. Not only that, gov't market share of employment exploded. We are no closer to recovery than we were 9-10 years ago under Bush.

My advice to anyone looking to make major life/financial decisions would be pay for EVERYTHING IN CASH. Credit will be useful if we ever do recover fully, but for now, save and pay instead of mortgaging.

Linked the wrong fucking image, lol. I'm getting too old for this shit.

Should have diversified brah. Shit happens. He could have invested in income properties while running his business. Rents have been growing steadily for like 5 years.

After 18 years of success he should have had alternative forms of income. As a business owner you're always exposed to big risk so you hedge your bets.

Banks didn't fuck up anything for anyone. The government fucked everything up by pressuring banks to issue more subprime loans, and credit ratings agencies fucked up by not doing their job.

I'm on business 3, the first two i sold for top dollar to idiots worse than OP's dad who can't look three seconds into the future and they went under within two years (which is why i sold them, the markets were going bust)

I'm doing smartphone repair this third time. Once i see the smartphone bubble bursting i'll do the same again.

That would have been fine if the banks and investors had been forced to eat their losses when shit went south and people started defaulting. AIG would have gone totally bust cause they were retarded enough to insure junk securities worth more than their entire company.

Lots of people would be fucked for a little while and shit would have sucked for about 18 months before new players started seizing opportunities in the market.

Instead we got bailouts and stimulus bills and made sure nobody responsible for the crash was held accountable.

>I'm doing smartphone repair
I literally drop my phone on the counter and get a new one.

I'm not sure who uses repair services anymore, but I'm not in the market. Perhaps this is a US/Canadia difference in the mobile phone markets?

It isn't rewarded, period. Well, strictly speaking, how do the mathematicians put it? Necessary but not sufficient? Yes. Necessary, but not sufficient.

He should've seen the housing bubble coming and resized his business, sold it off and did something else. It wasn't hard to see it if you were willing to look either. Anyone who could fog a mirror was getting loans to buy McMansions. It didn't take a genius to see that was not going to last forever.

The most important skill in this era we're in, is being able to spot a bubble and GET OUT OF ITS WAY. I survived the .com bubble. I survived the housing bubble and I will survive this latest bubble in everything.

You may think "Oh I'm smart and cute enough to be able to get out in time" - but you're not. Hardly anyone gets out in time, ever. THAT'S THE WAY BUBBLES WORK.

It's not enough to be able to build a business in this era through skill and hard work, you have to know something about how to read markets, know how those idiots on Wall Street and DC are fucking things up and be able to profit from and/or protect yourself from them.

But hey, this is life on hard mode, don't feel too bad that your Dad screwed up. In an earlier era, he would've done just fine. It's just that this era, they've turned the difficulty level of playing in the economy all the way up to maximum.

I am studying Finance and I plan on working in investment banking in the near future. I can't wait to fuck over guys like your father again

In this era, money is the state religion of Murica. I'm not being ironic or sarcastic when I say that either. It is truly honestly the god of most people in this country. They. Worship. Money.

The more money you have, the more pious you appear to be. The less you have the more sinful and shameful you appear to be to others.

But like all religions, it's something that's not quite rational, something you have to take on faith. And there are other gods out there...

Beats me. the provviders here give everyone a thousand dollar phone when they sign onto a 3 year contract, and do nothing for them when the phone inevitably breaks. so instead of buying a new phone they get it fixed for a fraction of the price

a lot of people get their shit fixed because nobody backs anything up and they don't want to lose all their pictures and such

When it went from $80 iphone 4 screens to $300 iPhone 6s screens I was certain people would stop getting their shit fixed, but nope, they toss the money down like it's nothing still

I gotta keep a sharp eye on this market though, it's fucking nuts

By the time you get through your "education", Wall Street will have robotized itself. There will be precious few jobs.

But don't feel too bad, when the pitchforks and the tumbrils come to take wall streeters away to the guillotine, at least they won't be coming for you.

the free market has spoken. your dad earns what he worth to society.... not much

I'm pretty sure bills get paid with money. Not legacy, not good intentions, not perseverance.
You and your family sound like the businesses who refuse to adapt to the internet age and cry and whine to their customers to stop buying online. It's a lot less work to gripe than it is to actually try and restructure and remain relevant.

Banks got bailed out
We got sold out

Regulation really isn't the problem. Governments allowing people who made billions off the bubble to hide behind their corporations' liability is the problem.

Bailouts are the problem.

If corporate protections weren't in place then bankers would regulate themselves. They only do this shit because the government does everything they can to shield them from risk so there's literally no downside to predatory lending practices.

Politicians do all this to try and stimulate "muh 'conomy" so they can get reelected.

All these banks should be bankrupt and their owners and employees should be penniless.

The dollar is not only backed by oil, it's also a common trade currency around the World. Say, if two Latin American countries trade, they often exchange inti dollars beforehand.

You're right. I'm in my senior year and I've just started learning Python in order to give my self an edge in the job market
There's very few jobs that won't be eradicated by computers so wall Street won't be the only place people will be attacking

You're right. And that's what I mean by "regulation": get rid of the moral hazards where banks too large to fail can take on infinite risks, knowing they'll be bailed out anyways.

That's crazy. I'll admit, we're more "disposable living" that anyone else, so that's probably what drives it here in the States. I suppose that just drives my points in other responses further.

I'm sorry user, this is how finances work. Now you're family knows, educate them and never give up.