Comments by "Louis Rossmann" (@rossmanngroup) on "Secular Talk" channel.

It seems like a loaded question. Economic forces such as trade and business just does not sound that threatening. They're not asking if you are more worried about what Jeff bezos and Tim Cook and corrupt politicians are doing versus your fellow man.
849
Credit to Fox news for not letting her get away without making it clear to he audience she has no intention of answering a straightforward question
547
Once the eviction moratoriums end, the riots from early June will look like a preschool playground fight in contrast to what comes next.
439
I'm kind of jealous for your excitement.
364
Money is kind of the score. For some, it isn't the money, but money as a proxy for having a score at how much you're winning the game. When you realize doing something makes you money, it frames the game around the thing that allowed you to score. At some point, you stop playing the character and become the character. For some, it just so happens to coincide with their personal belief systems , and they're lucky. I make money doing what I'm good at and believe in. You make money doing what you're good at and believe in. For some, they have no choice. I don't think you'd be a good right wing pundit even if you wanted to be. I don't think there's be any money there. You don't believe it. You don't like it. To do what he did for as long as he did it, I think he enjoyed, and At some point, bought his own bullshit.
310
This thing on tv news of two people talking at the same time is infuriating
106
I am a happy and proud capitalist, and there is nothing I like more than watching the invisible hand of the market fist corrupt hedge funds up the ass. the important thing to understand here is that shorting the stock in and of itself would have not been there downfall, it was when they shorted more than 100% of the available shares, which made it inevitable that they would have to bid a very high price in order to purchase shares back in order to cover their short position.
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Tucker carlson vs edward snowden 2020. That would be a race.
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Citadel doesn't own robinhood. if I have bad data and I'm missing something, and someone can provide a citation for citadel owning Robin hood, I will eat my words. But I don't believe citadel owns Robin Hood. Citadel has a relationship with Robin Hood where they purchase order flow, and they are also execute trades for them, to my knowledge. A big portion of them stopping purchases was DTC raising deposit collateral requirements for gamestop and a few others. Robinhood as well as other brokers who weren't as well capitalized weren't able to allow buys either. The real question is who raised the collateral requirements at DTC at this point. Robinhood's CEO had this as an out but he said on TV he had no liquidity problems which is why so many people jumped to the conclusion that this was citadel meddling with robinhood. The reality will more likely be that they are just one of the shittiest capitalized brokers, not surprising given that they are a new startup that targets newbie traders. I still would like an investigation into their relationship with citadel, and I would like to know who made the decision to raise deposit requirements, and whether or not raising those deposit requirements at DTC occurred under any stress or corrupt conditions. If you look at what happened before and after the line of credit, you will see that prior to the line of credit they were allowing people to purchase as little as one to 20 shares of certain restricted stocks like blackberry, and then after the line of credit you were able to purchase 700 shares of stocks like blackberry that had heightened collateral requirements at DTC. The line of credit was put to work so that people would be able to purchase more, not less. I am not saying that there is no corruption or potential for corruption in this entire situation. I do not want this to be taken as an attack. I do not believe you have read up on everything that is going on here.
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What you're saying at 15:50 sounds controversial now to some, but I think it will be viewed as more reasonable when looking back on it years from now.
40
I understand there is a pandemic. I am not trying to be insensitive to people who are suffering. Nor do I believe the way we handled the economic fallout from the pandemic made any sense. That being said, there is something disheartening about how voting decisions are being made based on direct payments to you if you vote for a specific candidate. Not aggravation with the policy, more just sadness that this is where we are at. I get it, corporations try to influence voters because certain politicians may support certain subsidies, and I get that much of the system is corrupt. This still feels weird. We have so much bribery and money in politics. Rather than get it out, it's like fighting fire with fire and doing that in reverse. Maybe that is the way to do it. But I don't think this ends somewhere good. That's all. That said, I thought this was going to be $1400 since biden called the past shit stimulus a "down payment" or something like that on the full stimulus.
36
I get his point this has nothing to do with his point, I was triggered when he said we pick up everyone's garbage so that free enterprise can occur.... I pay 200 to $500 a month for commercial garbage collection that at least once a month forgets to pick up, leaving us with a lovely nyc department of sanitation fine stuck to the window for their mistake. Garbage collection in NYC is such a racket.
17
@hepthegreat4005 yeah these people who are making these delays are people who have never felt The squeeze of the 30-day billing cycle. Every 30 days I need to pay my gas bill or I will be greeted by a 27f degree bedroom. Every 30 days I need to pay my rent or I'm out on the street, etc. By the time March rolls around these people are all so fucked, that's another $1000/mo rent and other bills. And the $600 stimulus was half a year after the $1200.
14
That host is no tucker Carlson. Like or hate him at least he plays the part he's been hired to play. This guy is just lame. I'm still glad I don't have a Twitter.
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I actually agree with him. Scott Galloway has given an insane level of quality advice when it comes to business and development, and he's also a fairly progressive person. In spite of the news network he appeared on, you two probably have more in common than you think! I agree with him, as someone who has gotten stuck in stockmania in the past. even if you do wind up making some money, staring at your phone to check news and check charts every 90 seconds and live in perpetual fear of a line going down slightly on a graph is no way to live. I could never be a day trader. A big part of the work is carrying around this ball of stress in the back of your head and then the pit of your gut Non-Stop that explodes emotionally and physically every time the line goes up or down. And when there is so much riding on small movements of a line on a chart, why would you spend time with those that you love, when you could be reading about the direction the line may go in, doing research on the company, tapping into every area of the internet to figure out what consumer sentiment is regarding that company, and monitoring it all the time? when I have spent more time trading in the past, I spend less time on my business, and less time on my relationships, and the money I make rarely winds up being worth the all day long stress. But above all, and this is a point I hear progresses bring up a lot, is that of real work. Work that matters. If you are a bricklayer, if you are a plumber, if you are a scientist, you are doing real work. what productivity is being added to society, even if you make money at it, by buying and selling three letter tickers on an app on your phone? The time that you spend doing that, and focusing on that at the expense of everything else, is time that you could have spent producing something, or cultivating your relationships. I can speak firsthand as someone who has for a weeks at a time, completely blown off my conventional responsibilities for investing a few years ago. I'm not saying that all people are as weak-minded as I am in that regard, but I'm most certainly in weak mindset in that regard, and I completely connect with what he is saying, even if I don't agree with all of it. I felt this way when I was investing in normal stocks. I can only imagine the level of stress and aggravation and disconnecting from the world that would occur if I were investing in highly volatile memes with real amounts of money
7
When I speak to people who believe he won the election, and the courts simply threw out cases based on b***** like standing, I wonder what they think of this case being thrown out because of standing
5
I think people complain about fairness all the time. Fairness is a genuine concern - whether with the tax code, job opportunities, school quality being based on the income level of the neighborhood, the entire monetary system, the economy. Free college stems from the idea that it is unfair that only the wealthy can afford to give their children opportunities to climb the economic ladder. The idea of economic inequality being a problem stems from the belief that it is unfair. Inheritance taxes are based on the idea that it is unfair that someone be a billionaire by virtue of birth lottery. Whether or not one agrees, or disagrees is another discussion entirely, but grown adults complain about unfairness all the time, and it is most certainly worthy of a discussion.
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To be fair, at 5:20, it is typically the people who are made fun of, nerdy, thought up to be a joke that wind up committing terrible atrocities. One could probably apply that description to the Columbine kids or elliot rodger. That being said, the idea that Republicans will be dead is rhetoric that is not helping anyone
4
She could have said "I support livable wages, which is precisely why I do not want to destroy the entry level jobs that lead to livable wages. These entry level jobs are often the only jobs available for those with no experience and less education, are rarely worked longer than one year, and would go away if we raise the minimum wage too high." Agree or disagree, it is at least a valid talking point to argue back and forth. She didn't say that. She said "I do not support a livable wage." Not only did she say that, she used that as her opening sound byte. OUCH!! If you are a regular person and you let that slip I get it, but as a politician you should have your game face on better than that.
3
I honestly don't hate his reply to the reporter looking for a gotcha moment. Our rollout in New York was horrible because we had these edicts on who gets what when. We will be wasting many vaccines as a result. I'd probably answer with less restraint than he did. But then again I didn't sign up to be a politician.
3
My interpretation is that corecivic and geo trading above 6 and 8 dollars suggests that this means nothing. If the shareholders think this is fine news to hold through, then nothing is going to change. It makes a good headline though. I did my research in 2016 about the population of everyone in the prison system, how many people were there for non-violent offenses, how many people were in private prisons versus public prisons, and the overcrowding rate of the public prisons. I don't have any of that stuff available anymore, but I came to the conclusion at the time that ending private prisons without outright purchasing the prisons would not be possible. Even if you let out a lot of the nonviolent drug offenders. I wonder what the numbers would be on this now. I am fairly certain the only way to make this work would be to have the government purchase the private prisons to run themselves, which would result in every single shareholder of the private prisons being considerably richer than they are now; especially those the top. Any buyout of that magnitude, particularly when local governments that cannot print money to fund their spending are as hard strapped for cash as they are, would have to happen at the federal level, not the state level. Since state prisons and federal prisons are separate, that's just a whole mess in and of itself to coordinate. Given the difficulty of coordinating this, and the number of other issues that are more pressing, this will most certainly be swept under the rug for the next 4 years, with platitude inducing headlines like the one you just read being the status quo. It did give people a chance to buy in at the 7% dip though, and get a heftier dividend. At least until GEO winds up suspending dividends as a result of their horrible debt. Both of those companies are hogs. If anyone has better updated information regarding the prison population by crime type and prison type, State versus federal, public versus private, that also includes how overcrowded the facilities are, I'd love to see it and learn.
2
I thought that Democrats were sore losers in 2016 and the years proceeding. I will 100% admit being wrong and eat my words, because this is 1,000 times worse and a complete and utter travesty. FOX news being trashed by Trump and people close to him really is a 2020 thing to happen. They spent over 20 years being the conservative propaganda Network, and FOX worked hard to achieve that reputation. Trump managed to break that for tens of millions of Americans in one day. He will throw anyone and anything under a bus if they don't bow to his will.
2
In NY, $15 minimum wage solves nothing. $15/hr and you're still broke here. In Custer, South Dakota, hiring a 16 year old kid to work the counter or do stock at the corner store... for the 3-7 customers you get to walk in a day, $15/hr starting out is probably devastating to them. There are parts of Arkansas where a decent house is $65,000. $15/hr is probably wealthy there. It's a weird thing to do federally. I would be for universal basic income before I was for a higher minimum wage. Minimum wage hits every business owner the same - be it Amazon, or some rural storeowner. UBI is more progressive. Someone who makes $30,000/yr, is not putting in as much of their tax to pay for the $12k/yr UBI as someone who makes $30,000,000/yr. Further, consider automation. Even without a federal minimum wage, more and more jobs are being automated or algorithm'd out of existence every day. This is a natural trend regardless of minimum wage hikes. What good does minimum wage do to someone who no longer has a factory job because robots are working the line better than the employees used to? What good does it do if minimum wage is $30/hr if your job can be done by a drone? Minimum wage doesn't solve the underlying problem of how do you pay people when they do not provide something of value to your business, that is becoming a larger problem everyday. Kicking the can down the road on that will do us no good. If the underlying issue to be resolved is poverty & wealth inequality, I believe UBI is a better vehicle for solving it. It is a more progressive way of implementing wealth redistribution, that also takes into account automation & the future in a way minimum wage doesn't at all. Let's say I just started my company. I finally get to the point where I make $750/wk in net profit, it's a one man band. Someone wants a job.. any job. Maybe he's a felon and can't catch a break, or just wants experience. $15/hr is $600/wk, and after taxes/workmans comp/payroll taxes closer to $800. I don't even make that... so how do I pay that? I have to say no, sorry, you stay unemployed. But with no minimum wage, I could hire him for what I can afford.. $100-$250/wk to help me out, and when business gets better I can pay him better. If he learns something useful and can help me more, either I can pay him more or he can take the skills he learned and move on. with min wage at $15/hr, he stays unemployed because at $15/hr you can hire the person who graduated high school that doesn't have a criminal record. You may think $100-$250/wk is a travesty - but he's getting UBI already in this scenario. Whereas, in this scenario, the people worth less than $15/hr wind up with no work, and the people worth more than $15/hr get gobbled up by companies that can afford $15/hr. Me personally, the lowest salary here, for a lower level employee who needs guidance, and can't do repairs, is $18. I am not affected by this... at all for the pro jobs. But I hate not being able to take on new potential talent and take them under my wing, teach them a skillset, and then hire them at a real salary once they get good. That is how I learned what I know and it makes me sad that it is illegal to do this in a way that is financially viable. People ask me for internships all the time, who have zero valuable experience. I turn them all away. If you can't solder, can't deal with difficult customers who try to trip you up to make you feel bad so you give them discounts, and can't fix boards, I have no reason to pay you the minimum wage of $15/hr. I honestly have no reason to pay such a person anything... but might be able to find some stuff around the store that would be "nice to have done"that you an do for a lower rate. and while you're here, maybe you sponge up some knowledge that allows you to start learning, get better, and be worth $3-$42 like the rest of the technicians who work here. After workman's comp, payroll taxes and everything else that shit's closer to $20/hr, and $3200/month for someone who can't bring me any money via their skillset just aint gonna work. I am not independently wealthy. I cannot afford to take time out of my day, to spend months with people who may go nowhere & never learn anything, at $3200/mo - and that's what it comes out to after payroll taxes & insurance. Maybe gates or bezos can afford that, but I have rent & other employees to pay, and keeping my head above water in NYC is hard enough as is. So I hire people who already know how to do the job. People ask, "how do you expect me to get experience if you don't have a job", but I usually respond with "how can I pay you $3200/mo if you don't bring in revenue?" I get flamed asking but it is reality. I got about $7/hr and cleaned toilets and it sucked, but I got experience. and then i got a better job I hate turning away the next generation. I hate turning away people who just want to do anything to get a foot in the door, to not sit at home playing video games nihilistically all day, who want to get a job and get started doing something... doing anything. This is how I started... I went door to door when no one would hire me and offered to work for free. I finally found a world class studio that said yes.. and then wound up working next to the best techs in the industry. that's all going to be gone. Damn I can't believe I typed this much.
2
@ShaylaWroe check out his own channel on youtube. He is hysterical, and has a very bombastic personality. he is very self-deprecating as well. He finds a way to s*** on everything and everyone in a manner that is humorous, including himself.
2
This will lead to an exodus from big cities. At some point, people have got to be brought back into reality and realize that what you get for 2500 to 5,000 in New York you can get for $600 to 1200 dollars if not less in parts of the country with less pollution, nicer people, and nicer scenery. We live in an age of unprecedented work-from-home job opportunities. But lots of people are not in a position to move to a new place, nor do they have savings. They are screwed. :( I spoke with some landlords and asked if they were getting any break on property taxes, they said they are getting none. The city still has its hand out, so I imagine many landlords will still have theirs out. The explosion in crime has a push for hundreds of thousands of people to be evicted begins that unlike any I imagine I've seen in my lifetime. The best way to bring the worst out in people is to bring them to a point where they have nothing to lose. I fear that is coming.
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I think people would be less angry about those who don't contribute in taxes if they didn't take seven figures worth of hard cash benefits out in taxes from the general population.
2
So far it has been a bunch of very vague virtue signalling. Run tulsi gabbard or someone worthwhile for the democratic party. I didn't like Hillary or Bernie but it doesn't mean running a wrestler against a reality TV show person. That being said, likable, hot, charming celebrity with perfect white teeth. The muscles. The face. He'd win without a single sensible policy.
1
pokeit2bsure do you think the refugee crisis would have occurred in the same manner if we had not taken out Gaddafi, began the war in Iraq, and armed Rebels around Syria?
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I don't hear it that way. I hear someone who gave 40% of their income to taxes their entire life asking, why is it that my taxes now go to other people's college, but not that of my own offspring? I don't think they want it to be shitty for people going forward, so much as they wanted to be less shitty for them retroactively. If you refunded the tuition payments of all people who let's say, made under $400,000 a year, going back for the last 5 to 10 years, there would be little to no legitimate public protest. but the reality is that this is not doable because the government wasted the money they could have utilized on this policy elsewhere due to corruption and poor decisions. I don't understand what capital Elizabeth Warren from saying, sure. Why not rebate people for the last 5 or 10 years? These people are lashing out - but rather than focusing on their frustration at the unfairness, let's drill into why they are frustrated. This is a cold reminder to them that they give 40% of their salary away, then probably $5-$15k/year on top of that in property taxes, 8% everytime the buy something with sales taxes, and have nothing to show for it. That money doesn't ever help them: and they've repressed this aggravation. They realize they can do nothing about the fact that 40% of their tax revenue goes to corrupt politicians, useless wars, inefficient nonsense. But when that money goes to help other people who you don't know, after you sacrificed for your own family, it hits you like a ton of bricks. "I get to keep less than 60% of what I earn, and the 40% I give away does nothing for me but blow people up in the middle east and subsidize corruption." That hurts. People begin to mourn all over again - that they piss away 40% of their earnings and have crumbling infrastructure, expensive healthcare, high housing prices & a horrible education system to show for it. The argument regarding immigrants who want a better life for their children, not a worse life - I hear that. I too want a better life for my kids than my childhood. I wouldn't tell my kids +"ah, my childhood sucked - so should yours!"_ At the same time - those immigrants were killing themselves for their own kids - not someone else's. People wouldn't be as opposed to it if it were generalized relief, but it isn't - those who did pay $100k for their kid's education did so and suffered to do it, and will not see a dime of relief.
1
Maybe I'm nuts but I kind of feel for him there. I have sometimes had the crazy day dream of what it would be like to run for office, but I don't know what you do once you're already knee deep in the problems. someone could go back in time to 1992 and undo the decisions that got New Jersey to have over 200 billion dollars in unfunded pension liabilities and a complete and utter clusterfuck of finances. But what does someone do in 2020 to fix that problem? Every possible decision they can make will wind up screwing over one group of people. There's no decision that doesn't suck. I remember when Obama started to withdraw, and then isis came about, and then more drone strikes started. I would never want the job of president, you could not pay me enough, in either money, prestige, or both. There are so many messes that someone else started, that you will be forced to make difficult decisions on, that no matter what you do, will suck in one way or another.
1
Joe Rogan has a good rant on one of his recent shows about people that have one bad trip that become evangelists on behalf of all people who has ever try to drug or are considering trying a drug that addresses this very well. What they're talking about is the type of thing I would expect to hear some an 80s new show, not in 2018. This is so played out and so insincere, coming from somebody who is conservative myself. Just Legalize It seeing as tens of millions of people do it everyday already and whatever Public Health costs there are will be far outweighed by the tax revenue generated that no longer goes to criminals
1
I am curious at 6:45. Would the economy collapse, or would employers realize they've got to pay more? If everyone willing to do X said we're just not doing it, and there were no "scabs" to come in and do the work - the economy could collapse, or wages would have to go up. This seems to be what happens with unions when an agreement cannot be reached, and workers walk out - the company can collapse, or the company can make the concessions requested. Obviously a less than ideal situation if you must choose between barely surviving, and the risk of not surviving or making more if it goes your way, but I don't think the only logical outcome of his suggestion is that the economy collapses. It could even lead to a ripple effect - it happens at wholefoods/trader joe's in September, rumblings of similar occurrences spread to another chain in October and they act preemptively.
1
the stock market is investing. If you play the stock market the way the people on Wall Street bets play it, that is gambling.
1
@MrVincentTremblay It was well known that for a long time, commercial waste management in NYC was run by the mob. I used to have a note hanging in my old store from Tiffany Carting that was sent out after one of the people working there went out on his own, that said he is endangering himself and others or something like that... it was funny.
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Inside Voice I wouldn't quite call Manhattan, Brooklyn, or Queens conservative, right wing communities.
1
I think the idea is, his customers are already screwed. and when you're on step ONE of recovery, you're not far out of the "screwed" part yet.
1
What a robot
1
That is such bullshit, if someone drops a laptop off at my store that has sensitive information relating to a presidential election, you bet your ass they are going to remember it and be sure as to whether or not they dropped it off or not. Then again, it's possible that someone this coked up would not know. It's so hard to tell if he's just playing an idiot or actually an idiot, but the answer that he gave makes sense as the politically safe answer because this allows them to pretend that this is all Russia.
1
He wants to raise the highest nominal tax bracket something like 2%, and capital gains tax rate 16%. The argument can be made that the capital gains tax rate increase is not the best idea, because people who work over a period of five to ten years making close to nothing, who finally cash out when they sell the asset that they have cultivated, like a farm, will be taxed as if it was their yearly salary, as opposed to 5 or 10 years of work, simply paid out all at once. But to call that neo marxism is pushing it. To them, everyone left of Trump or Ron Paul is in neo marxist. They do not differentiate whatsoever between AOC and Joe Manchin, Bernie Sanders and Joe Biden. This makes it difficult to take their point of view seriously. There's no nuance. It's a call to crusading action because the enemy is at the gates.
1
@mr.dalerobinson I dislike Nancy Pelosi, but on the rollercoaster of $160s to $600s you'd imagine nancy pelosi would've gotten in at the beginning of the train if she had real power/insider info ?
1
@Black Jock can you provide a citation that the line of credit came from citadel?
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@iller3 the 2.75 billion dollar bailout was given to melvin capital when the fund was tanking. Kyle was referring to something separate, the billion dollar line of credit Robinhood received as if it were a bribe to discontinue trading, when in reality that was the money Robinhood needed so they could allow trading at all with the increase in collateral required by DTC.
1