coffee_rules Posted October 9, 2021 Author Posted October 9, 2021 9 hours ago, MechEng said: Imagine Indian banks imposing bank fees if you don't withdraw cash 15 times a week, just like in the US. There are VIP checking accounts, maintain a min balance to avoid all kinds of fees
coffee_rules Posted October 9, 2021 Author Posted October 9, 2021 2 hours ago, Real McCoy said: You don't know? Most Americans are only coming to know of this since the last decade. I'm not saying public banks are angels. You forgot to mention frauds in yes bank ICICI. So don't say "all frauds" are from public banks Most Americans know if they do a bit of reading. Fed reserve banks are set up as a corporation with a bunch of Private financial institutions who hold stock, and they get dividends. Unlike regular stock holders, they don’t get to vote on policy decisions like the Fed interest rates or the country’s debt. They cannot trade that stock or use it as collateral to get loans. “The Federal Reserve Banks are not a part of the federal government, but they exist because of an act of Congress. Their purpose is to serve the public. So is the Fed private or public? The answer is both. While the Board of Governors is an independent government agency, the Federal Reserve Banks are set up like private corporations. Member banks hold stock in the Federal Reserve Banks and earn dividends. Holding this stock does not carry with it the control and financial interest given to holders of common stock in for-profit organizations. The stock may not be sold or pledged as collateral for loans. Member banks also elect six of the nine members of each Bank's board of directors.”
coffee_rules Posted October 9, 2021 Author Posted October 9, 2021 44 minutes ago, MechEng said: Yep, that's Wells Fargo for you. Living in the US is hard unless you make at least $80,000 in an affordable state like Texas. For Cali, NYC and Chicago it gets more expensive. My bank even pays me back all ATM fees if I use any other ATM. We can always choose another bank or Fed Credit Union if you don’t like your big branded bank. That’s good part of privatization. Competition brings in quality. But, the bad part is in credit card fees that’s where most banks make money. Most Americans have huge credit card debts and they keep paying min balance and live paycheck to paycheck. Banks squeeze the last bit if you owe them money
diga Posted October 9, 2021 Posted October 9, 2021 11 hours ago, MechEng said: Imagine Indian banks imposing bank fees if you don't withdraw cash 15 times a week, just like in the US. I happened to have Citibank account as my salary account in India from a long time.. its quite a rip off in India
EnterTheVoid Posted October 10, 2021 Posted October 10, 2021 19 hours ago, MechEng said: Yep, that's Wells Fargo for you. Living in the US is hard unless you make at least $80,000 in an affordable state like Texas. For Cali, NYC and Chicago it gets more expensive. Average house price in Sydney or Melbourne is a million dollars. And that's not getting you much. Average salary is about 80K. It's not just US.
EnterTheVoid Posted October 10, 2021 Posted October 10, 2021 Sorry, average house price in Sydney is 1.4 million dollars. 1.4 Million. FFS. You need to be a *ing millionaire to afford a house in Australia. https://www.9news.com.au/national/australia-house-prices-melbourne-latest-city-to-record-million-dollar-median-house-price/2c26c56f-ea0b-467b-96a6-ccd5c9973d09
Trichromatic Posted October 10, 2021 Posted October 10, 2021 18 minutes ago, EnterTheVoid said: Sorry, average house price in Sydney is 1.4 million dollars. 1.4 Million. FFS. You need to be a *ing millionaire to afford a house in Australia. https://www.9news.com.au/national/australia-house-prices-melbourne-latest-city-to-record-million-dollar-median-house-price/2c26c56f-ea0b-467b-96a6-ccd5c9973d09 USD to AUD? Which type of house? Buying a decent 3 BHK flat in Hyderabad costs around 1.5-2 crores. A villa could be around 2.5-4 crores.
MechEng Posted October 10, 2021 Posted October 10, 2021 (edited) 56 minutes ago, EnterTheVoid said: Average house price in Sydney or Melbourne is a million dollars. And that's not getting you much. Average salary is about 80K. It's not just US. Australia is expensive and that's a known fact, but it isn't a capitalist monster like the US. If you're a sort of person who keeps an eye on how you're managing your spending, then the US will turn you crazy because the whole system is optimized to make as much money as possible. In the Bible belt states an 80k salary (for a single person) is sufficient to enjoy a relatively stress free life compared to more cosmopolitan areas, but life can be boring there and you will meet both the most hospitable people in America and extreme racists as well. Which is why I would support privatization in India only if the average standard of living and income makes a huge improvement so that acts as a buffer against the exploitative capitalist machinery. Edited October 10, 2021 by MechEng ravishingravi 1
coffee_rules Posted October 10, 2021 Author Posted October 10, 2021 22 hours ago, diga said: I happened to have Citibank account as my salary account in India from a long time.. its quite a rip off in India How?
ravishingravi Posted October 12, 2021 Posted October 12, 2021 There is literacy. And then there is communist literacy.
Real McCoy Posted October 12, 2021 Posted October 12, 2021 6 minutes ago, ravishingravi said: There is literacy. And then there is communist literacy. how is this relevant to this thread
ravishingravi Posted October 12, 2021 Posted October 12, 2021 2 hours ago, Real McCoy said: how is this relevant to this thread It is certainly more relevant than privatisation of banks and credit market in US.
Real McCoy Posted October 13, 2021 Posted October 13, 2021 On 10/9/2021 at 12:13 AM, coffee_rules said: tp[ic is divestment of sick PSUs OP disagrees 11 hours ago, ravishingravi said: It is certainly more relevant than privatisation of banks and credit market in US.
coffee_rules Posted October 14, 2021 Author Posted October 14, 2021 (edited) On 10/13/2021 at 1:07 AM, Real McCoy said: OP disagrees deleted Edited October 15, 2021 by coffee_rules Real McCoy 1
Real McCoy Posted October 15, 2021 Posted October 15, 2021 On 10/14/2021 at 8:32 AM, coffee_rules said: Just tell me you are an idiot, I won’t bother you. . How many times in ICF has a thread been hijacked? By some other conversation? Nobody is stopping anybody to discuss KaJo’a movie making skills here. whoa such a strong reaction. i'm pointing to the other guy that privatization/psu is part of the thread as you pointed out before and kerala communism is probably not. Looks like you are the one being an idiot here. pots and kettles dial_100 1
coffee_rules Posted October 15, 2021 Author Posted October 15, 2021 2 minutes ago, Real McCoy said: whoa such a strong reaction. i'm pointing to the other guy that privatization/psu is part of the thread as you pointed out before and kerala communism is probably not. Looks like you are the one being an idiot here. pots and kettles Apologize. Didn't read it well in the night. Highly spirited. dial_100 1
coffee_rules Posted November 29, 2022 Author Posted November 29, 2022 (edited) On expected lines Edited November 29, 2022 by coffee_rules
bharathh Posted November 29, 2022 Posted November 29, 2022 1 hour ago, coffee_rules said: On expected lines Sad. Vistara was a lone bright spot in the travelling experience in India right now. Miss Kingfisher airlines. Anyways - given most flights in India are not more than 3 hrs I guess we can put up with the budget airlines.
coffee_rules Posted November 29, 2022 Author Posted November 29, 2022 48 minutes ago, bharathh said: Sad. Vistara was a lone bright spot in the travelling experience in India right now. Miss Kingfisher airlines. Anyways - given most flights in India are not more than 3 hrs I guess we can put up with the budget airlines. SIA investment into AI is significant development. They were facing severe competition from other Asian airlines esp the ME ones
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