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0 pointsvkou8y ago0 comments

> Yes, the good times for software engineering will come to an end. I'm a software engineer, this will affect me. But the question is, do I have a natural god given right to have a ballooning salary every year, while fighting attempts to increase labor supply that might cut that growth rate?

Does our owner class have a natural god-given right to a 6% return on their investment every year, for doing nothing?

They are certainly spending their energy on fighting attempts to spread the economic pie around. We need solidarity, not shaming people for protecting their means to make a living.

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7 comments · 2 top-level

WalterBright8y ago· 5 in thread

> Does our owner class have a natural god-given right to a 6% return on their investment every year, for doing nothing?

You, too, can become an "owner class" by opening an online trading account and buying stocks. Commissions are often under $10 for a trade.

vkouOP8y ago

Since I wasn't born into money, or won the lottery, I can't live off that 6% return for another two decades.

Either way, even if I can, the guy who makes my morning coffee can't, and never will be.

WalterBright8y ago

> for another two decades

I.e. start investing and in 20 years you'll be financially independent. Sounds good to me to be living in the US.

> the guy who makes my morning coffee can't

I talked with a guy once who told me he "can't". He was driving a new car, and the payments, rent, etc., added up to more than his income. I suggested he sell the car, buy a car he can afford to pay cash for, and start investing.

He partially did take my advice. He sold the car, bought one he could pay cash for, and then blew the extra income on some other luxuries. Of course, then he still was in "can't" territory.

My current car I bought used 25 years ago and still drive every day. It costs me practically nothing.

s73ver_8y ago

You're forgetting the part about having enough money to make meaningful investments.

WalterBright8y ago

If you'd invested $1000 in Boeing in the early 80's, it'd be worth $200,000 today. Sounds meaningful to me.

2 more replies

propogandist8y ago

Stop paying $10, and use Robinhood which offers Free Trades.

It has limitations, so you'd want a traditional broker also.

Apocryphon8y ago

Sure. Solidarity to push back against the owner class to take a smaller piece of the pie, so the rest of the workers underneath - whether long-time veterans or recent entrants - may share it. In this, new workers shouldn't be seen as a threat, but an opportunity to create a bigger force to band together against the execs.

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7 comments · 2 top-level

WalterBright8y ago· 5 in thread

> Does our owner class have a natural god-given right to a 6% return on their investment every year, for doing nothing?

You, too, can become an "owner class" by opening an online trading account and buying stocks. Commissions are often under $10 for a trade.

vkouOP8y ago

Since I wasn't born into money, or won the lottery, I can't live off that 6% return for another two decades.

Either way, even if I can, the guy who makes my morning coffee can't, and never will be.

WalterBright8y ago

> for another two decades

I.e. start investing and in 20 years you'll be financially independent. Sounds good to me to be living in the US.

> the guy who makes my morning coffee can't

He partially did take my advice. He sold the car, bought one he could pay cash for, and then blew the extra income on some other luxuries. Of course, then he still was in "can't" territory.

My current car I bought used 25 years ago and still drive every day. It costs me practically nothing.

s73ver_8y ago

You're forgetting the part about having enough money to make meaningful investments.

WalterBright8y ago

If you'd invested $1000 in Boeing in the early 80's, it'd be worth $200,000 today. Sounds meaningful to me.

2 more replies

propogandist8y ago

Stop paying $10, and use Robinhood which offers Free Trades.

It has limitations, so you'd want a traditional broker also.

Apocryphon8y ago

j / k navigate · click thread line to collapse