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This trope bugs me:
A less wealthy individual is always showcased as someone who “goes all in” with all their savings, second mortage on the house, their kids.
Unreasonable, unstable, chaotic & desperate.
This is not true.
A less wealthy individual is always showcased as someone who “goes all in” with all their savings, second mortage on the house, their kids.
Unreasonable, unstable, chaotic & desperate.
This is not true.
Having worked in the casino industry, you notice how risk lives in a space that is completely made to get you hooked. Yet, do you know that about 2-8% of players account for 80%+ of deposits.
This means that majority is not showcasing risky behaviour after all.
This means that majority is not showcasing risky behaviour after all.
What is much worse is how the system abuses the 2-8% and sucks them dry.
And then uses that to stigmatise everyone else. There was a great thread about what is accepted when you have money but considered tacky when you are poor.. gambling is one of those things.
And then uses that to stigmatise everyone else. There was a great thread about what is accepted when you have money but considered tacky when you are poor.. gambling is one of those things.
This is relevant today to investments as well - which is a form of gambling in itself. While some part will be unfortunately affected by addictive nature, most people will know how to gauge risk.
Yet, for poors we are controlling how its done, but for the wealthy it’s all good.
Yet, for poors we are controlling how its done, but for the wealthy it’s all good.
