https://asiatimes.com/2023/07/indonesias-mineral-export-bans-face-hot-global-fire/

JAKARTA – Indonesia is under rising fire at the World Trade Organization and by the International Monetary Fund (IMF) for the government’s seemingly haphazard policy of banning mineral ore exports, a market intervention Jakarta insists is just and necessary to maximize its economic and industrial growth.

In a sharply worded statement accompanying its 2022 country report, the IMF called for Indonesia to phase out the restrictions and not extend them to other commodities. “The increasing use of trade measures and industrial policies may destabilize the multilateral trade system,” the IMF said.

So, if I have stocks that were purchased during the class window of a class action lawsuit, is it okay for me to sell them?

It's not a large amount of money at stake here, but it'd also be nice to be able to recoup some of the losses I had due to the misleading information that caused me to buy the stock and ive filled out the forms but they didnt say anything about future actions just asked when i bought or sold any at the time of the suit. I am not sure if it's okay to sell them or if I should hold them.

Any one have recommendations? This is US stock exchange, and if I did sell they'd be at a loss and I have sold other stocks at profit so I would be looking at capturing the losses on my taxes.

Now, rationally, I suspect the answer is "Of course!". But I'm looking for general advice, if my fellow Tildesians would be so kind.

This question has arisen while investigating opening a Monzo account. Apparently, you can lock away some money for 12 months and get 5.3% AER interest on it - meaning for every, say, £1,000 I put in, I get £50 back, right?

My question: is that really worth it, in the grand scheme of things? Even if I put in £10,000, I'd be locking myself out of that much money for a grand total of £500. I understand that's a lot to some people (even me), but it hardly seems worth it.

Perhaps there's something I'm missing. Perhaps some bad maths on my part or some other type of interest that I don't know about. All advice is welcome and appreciated!

Everywhere I turn everything is more expensive.

I'm spending less and less every month on non-necessities, buying more basic foods, never eating out, spending less on entertainment, etc but everything else just keeps going up and up.

Electricity just went up 12%, my gas bill is up 20%, rent has gone up 10% year after year, water is somehow 30% more expensive than it used to be, my groceries are more expensive than ever even though I'm buying in bulk and not buying anything fancy, I've stopped eating luxuries I used to enjoy like steak and fancy cheese because they've just gotten outrageous.

I have a good job that pays decently but my raises have been less than 3% a year and I feel like I'm getting squeezed out of everything I once had. There's no light at the end of the tunnel is there?

I've started to notice this narrative in my news feeds. The argument is high wage growth is contributing to stubborn inflation. So cooling wage growth is seen as positive. It'll help central banks pause the hike cycle sooner.

My knee jerk reaction is if wage growth is contributing to inflation it's minuscule; just enough to print the headline. I can't help but feel this narrative is a way to distract from the earlier price gouging narrative and to help employers scapegoat out of raises.

But I'll admit, I haven't looked into this topic deeply. So I'm happy to be schooled.

Child labor is making a comeback with a vengeance. A striking number of lawmakers are undertaking concerted efforts to weaken or repeal statutes that have long prevented (or at least seriously inhibited) the possibility of exploiting children.

Take a breath and consider this: the number of kids at work in the U.S. increased by 37% between 2015 and 2022. During the last two years, 14 states have either introduced or enacted legislation rolling back regulations that governed the number of hours children can be employed, lowered the restrictions on dangerous work, and legalized subminimum wages for youths.

Iowa now allows those as young as 14 to work in industrial laundries. At age 16, they can take jobs in roofing, construction, excavation, and demolition and can operate power-driven machinery. Fourteen-year-olds can now even work night shifts and once they hit 15 can join assembly lines. All of this was, of course, prohibited not so long ago.

Legislators offer fatuous justifications for such incursions into long-settled practice. Working, they tell us, will get kids off their computers or video games or away from the TV. Or it will strip the government of the power to dictate what children can and can’t do, leaving parents in control — a claim already transformed into fantasy by efforts to strip away protective legislation and permit 14-year-old kids to work without formal parental permission.

In 2014, the Cato Institute, a right-wing think tank, published “A Case Against Child Labor Prohibitions,” arguing that such laws stifled opportunity for poor — and especially Black — children. The Foundation for Government Accountability, a think tank funded by a range of wealthy conservative donors including the DeVos family, has spearheaded efforts to weaken child-labor laws, and Americans for Prosperity, the billionaire Koch brothers’ foundation, has joined in.

https://tomdispatch.com/caution-children-at-work/#:~:text=The%20Covid%2D19%20pandemic%20of,distinct%20sign%20of%20social%20pathology.

Here is a Robert Frost poem related to the subject of the article. https://www.poetryfoundation.org/poems/53087/out-out

I'm GenX and I worked as a teen, but my earliest jobs were babysitting, not industrial labor.

Royal Commission into the Robodebt Scheme

https://www.aph.gov.au/Parliamentary_Business/Tabled_Documents/2743

Some summary quotes:

From the Preface:

It is remarkable how little interest there seems to have been in ensuring the Scheme’s legality, how rushed its implementation was, how little thought was given to how it would affect welfare recipients and the lengths to which public servants were prepared to go to oblige ministers on a quest for savings. Truly dismaying was the revelation of dishonesty and collusion to prevent the Scheme’s lack of legal foundation coming to light. Equally disheartening was the ineffectiveness of what one might consider institutional checks and balances – the Commonwealth Ombudsman’s Office, the Office of Legal Services Coordination, the Office of the Australian Information Commissioner and the Administrative Appeals Tribunal – in presenting any hindrance to the Scheme’s continuance.

From the Conclusion:

The report paints a picture of how the Robodebt Scheme (the Scheme) was put together on an illconceived, embryonic idea and rushed to Cabinet. If ever there were a case of giving an unproportion’d thought his act, this was it.

The application of [public interest] immunity has also limited the Commission’s ability to reveal the entirety of the documentation concerning how the original proposal which became Robodebt, was passed and what was put to Cabinet thereafter. The salient points have been able to be made, but large parts of the relevant ministerial briefs, materials put before Cabinet and Cabinet minutes themselves have not been able to be revealed.

One of the questions in the Terms of Reference is when the Australian Government knew or ought to have known that debts were not, or may not have been, validly raised. [...] Some DHS senior executives always had that knowledge; some DSS senior executives must have suspected it, at least by 2016. As to members of the Government, one Minister, Mr Morrison, took the proposal to Cabinet, knowing that it involved income averaging and that his own Department had indicated that it would require legislative change, but on the basis of the contrary indication in the NPP checklist, proceeded without enquiring as to how the change had come about.

And... this ticking time-bomb from the covering letter:

I have provided to you an additional chapter of the report which has not been included in the bound report and is sealed. It recommends the referral of individuals for civil action or criminal prosecution. I recommend that this additional chapter remain sealed and not be tabled with the rest of the report so as not to prejudice the conduct of any future civil action or criminal prosecution.

Some news articles:

• Robodebt royal commission findings revealed, individuals referred for criminal prosecution

• ‘Dishonesty and collusion’: Robo-debt report recommends criminal and civil prosecutions

• Robodebt royal commission final report: key findings on Scott Morrison, Stuart Robert and Kathryn Campbell

• Royal commission into robodebt scheme ‘recommends referrals of individuals for civil and criminal prosecution’

I've had the same secured credit card through my bank for years; I only use it for car rentals and when my debit card gets declined on international online purchases. It's very easy to maintain as there are no fees and I always pay off the balance within the week; however, there are also no rewards. I know that a lot of credit cards out there have cashback rewards, and it seems like kind of a waste not to take advantage of that. But there are so many different ones that it's horribly overwhelming for me to try to research which one(s) might be a good choice. Costco has one which would have probably been an easy choice if I were able to spend more money there, but as of currently I have very little space and only hold a membership for gas.

So, do any of you lovely folks have recommendations to give me a starting point for what to look into? What cards have you used and been happy with?

ETA: I am in the US!

Hey ya'll

Just getting used to this here Tildes now.

Is there a crypto group yet. I know we all ain't gott be into it, but it seems finance here is the best closest place to call it out of who in or wants a sub.

Can we have one, what's the best way to go about setting it up!?

Do you guys think they're using rate increases to kill off all the overleveraged homeowners in an effort to create a sell-off and thereby lower housing costs?

Could someone smarter than I please explain what is going on... or is our inflation that bad? Seems like some of the inflation might be what I've read as greedflation. I didn't realize we jumped almost 3.75% in less than a year last year...

Always curious what others peoples finances look like, what they use to manage it, etc.

Do you use budgeting software? Do you follow a certain "method" to achieve your financial goals? How strict are you with your budget? Do you automate your retirement investments/contributions?

I understand how distributing bond etfs could work, you get part of the coupons when the etf distributes profits, which compensates somewhat for the price changes of the etf. Interest rates would affect the price of the etf but that would be partly compensated by the distribution.

But how does this work on accumulating etfs? If the profits are always reinvested in the fund, shouldn't the price of the fund always go up? Assuming all/most bonds dont default, interest rates would affect the price but that would be compensated by the reinvested profits?

I am missing something here, dont see the point of a bond etf if the price can change so much.

Do you expect a Fed rate hike, pause, or rate cut on June 14?

I personally believe the Fed will surprise the market with another rate hike because although CPI has cooled, core PCE has remained sticky and the Fed doesn’t want inflation to rear its ugly head at all costs.

According to the CNN Fear & Greed Index we are at “extreme greed” levels not seen since February 3rd, which also coincided with a temporary market top.

This leads me to believe the market will begin to fall over the next few weeks until we hit “fear” or “extreme fear” levels again around July.

So I'm 20, in the US (California to be exact), and I'm planning to (secretly) move out of my parents' house sooner or later. I have a plan and all that, but I'm a bit anxious since I know nothing about finance. I was never taught about it at school beyond some surface-level vocabulary words (no personal finance. Only like how econ is related to governments and all) and I grew up with a dad who thought he was being selfless by making sure I never had to think about money ever. Mix that in with some good ol' learning problems and I'm clueless about money

Here are some things I learned to give an example of what I mean when I imply I'm absolutely clueless:

• Apparently taxes will sometimes differ from each store I buy from. I have not learned how or why each store has a different percentage (I thought it was by state), just that it sometimes does
• Also, groceries don't have taxes, but they tend to cost more than the pre-packaged stuff
• Speaking of taxes, apparently if you make enough for them you can completely ruin your parents' taxes if you forget to communicate with them. Luckily, I didn't have to learn this the hard way, but I suddenly realized why people who were keeping their jobs a secret from their parents were concerned about making too much
• Credit cards are like a loan that you are forced to pay monthly. I legitimately thought the money was directly transferred from your bank account to the card, but no, it's from this storage in the bank that they have where they take your and everyone else's money and lend it to others
  • This was also why I was so confused as to why the banks collapsed right before the Great Depression
• A lot of things only take credit cards. For example, paying a house via cash is literally impossible, which is why you need to rely on a bank (to my disappointment). In fact, living bankless will only cause more problems than it does save money
• I figured out what a lease was. No one taught me that and I never sought to learn it until I was asking for apartment rooms

I'm lucky in that I'm not paying any sort of bills or insurance, and that I'm still reliant on my parents for that. However, I really want to get away from them, even though I would be tied to my parents' insurance plans and all. (I don't think they will ever kick me out of them, no matter what I do.) I don't want to be thrust into something that's difficult to reverse, so for those of you who are older and know what you're doing, is there any finance advice you recommend? What should I expect money-wise when I move out? What has been a regretful decision you've made and what has worked for you?

Resources are also nice, though I'm wary of books that are only found online and thus, I need to pay to see what's inside.

Rate hikes. "COVID mortgages" up for renewal at much higher rates.

Wondering how badly the current rate environment is affecting people IRL. How much of this do you think (or know) is actual bad news vs. just media doom and gloom?