Thorny_Insight

@[email protected]

I prioritize ethics over optics even if it means facing criticism.

Sharing my honest beliefs, welcoming constructive debates, and embracing the potential for evolving viewpoints. Independent thinker navigating through conversations without allegiance to any particular side.

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Thorny_Insight ,

$5 in the Philippines probably has vastly more purchasing power than it does in the United States. If you’re supposed to pay them the same salary as to someone working in the US then why not just hire an American and have the dude in Philippines go back to picking coconuts for $2 and hour or something. I wouldn’t be surprised if the Philipino worker is more than happy with their salary and you might even be able to employ several people for the same amount of money.

This same effect applies to charities aswell. Donating money to some poor african country helps many more people than it does when given to a local charity.

Thorny_Insight ,

Is this not similar to paying any American poor person less because they need it more?

No because the poor american still has to pay high US prices for everything they buy. You can’t live a decent life in the US with $5 an hour but you can in the Philippines where the minimum wage is around $10 a DAY. Another commentor in this thread told how their relative bought a restaurant dinner for 12 people for 50 bucks in the Philippines and that includes the tip.

That Filipino labor is not benefitting the Filipino economy it’s benefitting the US economy.

This is not entirely true either. That Philipino working for the US company spends their earnings in the Philippines and that benefits their economy.

Thorny_Insight ,

Yeah I’m not claiming these practices are without their issues but consider the alternative: if the company was forced to pay the Philipino worker the same salary they would pay an US worker then why would they hire a person in the Philippines? They wouldn’t. They’d hire an american instead and now the Philipino worker would need to find a local employer and it’s unlikely they would pay as much as the US based company does now.

Thorny_Insight ,

That depends wether you’re applying a pulling force on it or just a sideways force and how big of an issue it’s going to be if and when it comes loose. Temperature swings affect metal and brick differently so the hole might start crumbling around the rod after some years and it might come loose. It’ll definitely never be as tight as it is now.

This might come a bit too late but why didn’t you just get threaded rod and use one of these instead?

https://www.jcyscrews.com/upload_files/product/Anchor/Description/Brass_Anchor-3.jpg

On Retirement Savings

I’m almost 40 and according to the wisdom found everywhere on the internet, I don’t have enough saved for retirement. Which worries me because I’ve been saving for as long as I’ve had a proper job with access to a retirement vehicle. But also because the internet wisdom doesn’t make sense or sound feasible....

Thorny_Insight ,

infinite 7-9 percent stock market growth, but the modern market crashes every decade or so now.

My savings into index funds has seen an average growth of 9% a year for the past three years. 11% since the start of this year. Granted I jumped in at the bottom of the corona dip.

Thorny_Insight ,

React? You’re not supposed to react, that’s how you lose money. When the next crisis hits it just means I get more for the same price.

Thorny_Insight , (edited )

I’m saying that when crises come up, the indexes should rebalance before those crises flush our savings, rather than 3 months later.

I don’t even know what that means. Market crashes don’t flush anyone’s savings. You only lose money if you start selling when they’re going down. You don’t. You just hold and wait untill it comes back up again. It has always came back up again no matter how deep it dips.

When you hear stories about people losing their savings during market crashes it’s either people who got nervous watching the value of their investments going down and they started selling at a loss or they were invested into individual companies that went bankrupt.

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