Happy Friday, everyone. Welcome to a new day, and it’s blogging time again. Sadly, we have come to the unofficial season of Summer here in the US. Luckily, we are having warm weather this week to still keep the season alive. So, this past Monday, it was Labor Day in the US, which usually is the holiday to end the season of Summer. Let me share some fun knowledge of the Labor Day holiday.
Labor Day is a federal holiday celebrated
on the first Monday in September
✔️ A typical American worker spends
about 12 weeks a year at work
✔️ Approximately 3.7 million workers
in the U.S. are union members
✔️ The #LaborDay hashtag has been used
on Instagram over 4M times, wow!
✔️ Labor Day weekend is a prime sales time, ranking second after Black Friday.
Before I start blogging on my topic, I’m going to share some news this week.
Sept 4 (Reuters) – The Russian subsidiary of Citigroup Inc (C.N) said on Monday that it will stop operating cash machines in the country, the last step in the winding up of the lender’s retail business in Russia.
In a statement, the bank said that all its cash machines in Russia would stop working by the end of 2023, and that customers could use mobile banking for most transactions.
Citigroup Inc announced at the end of last summer that it was closing its Russian division, which resulted in a write-off of about $170 million. At the end of last year, Russian bank Uralsib (USBN.MM) announced that it had bought Citibank’s portfolio of consumer loans and would continue servicing them.
CNN-North Korean leader Kim Jong Un expects to engage with Russia’s President Vladimir Putin in Russia to continue actively advancing arms negotiations between the two countries, according to the US government.
“We have information that Kim Jong-Un expects these discussions to continue, to include leader-level diplomatic engagement in Russia,” said National Security Council spokesperson Adrienne Watson of ongoing arms negotiations between Russia and North Korea.
Sept 4 (Reuters) – Walt Disney (DIS.N) urged customers of Charter Communications’ Spectrum cable service to consider switching to a live television option from Hulu as the media companies remain at odds over a new distribution deal.
In a blog post on Monday, Disney said it hoped it would be able to reach an agreement to restore access to ABC, ESPN and other Disney-owned channels that have been blacked out on Charter’s service since Thursday.
PS: I am currently a holder of Citigroup Inc stocks. I am no longer a holder of Disney shares. This is not a recommendation to invest or not. Do your own research.
Let me vent for a minute. Why in the world is picture in picture ever created. It is so annoying to watch a tiny screen while advertisements are shown while I’m watching my sporting event. Ok. WWE(pro wrestling) is no real sport, but still, it is entertaining. Please eliminate this. Please.
Unknown Territory
“Investing in stocks is gambling,” I am told some of the time. But, “it’s risky,” is the main reply by most. I no longer explain to them whether it is risky or not. The gambling part, I just dropped the conversation. Change the subject, or just excuse myself and walk away. People will believe whatever their minds tell them to believe, whether or not they tend to believe it is true or not. I call this “In denial.” Their belief is based on not knowing than on experience. Sometimes, in their minds, experience that led to failure means that a thing won’t work for anyone. Ever. Please don’t seek information from these folks. Ever.
Most of us have our comfort zones. We stick to what we know and never venture out of our zones to learn something new. Especially the working class and poor. Some are quick to criticize the ones who are successful in bringing the goods and services to them, which they so gladly accept, yet lashing out on them? This is oxymoron. I remember the days of Occupy Wall Street.. the group that was created to protest against the wealthy investors at Wall Street and beyond. I assure you, these may be the same people(the protesters), who will join the long lines for hours to get their new product in their possession, yet criticize the investors who made this possible. An oxymoron? Absolutely.
By the way. For the same people who claimed that investing is risky. Ever check to see what is in your 401k plan that is managed by your bosses. Yes. I’m talking about those stocks and bonds that your own money is invested in your retirement funds. Let me understand something here. It is gambling and risky if you do it yourselves, but not so if your bosses do it? Here we go again. Another oxymoron detected.
Cryptocurrencies are another scare to people who do not understand what they are and their benefits. Even the prominent ones are quick to deny these currencies since they will be the first to suffer a panic attack in fear of losing their investments to these new rivals. The bigger these rivals. The more frightened they become. The poor and working class to follow them to deny these currencies. The rich are scared. The poor and working class are placed much lower on the denial scale. This, in truth to not being educated enough on these new currencies.
The unknown territories can be frightening for sure. I’ve been there. But, it is like learning how to swim. You need to get in the water. Also, see what your tolerance for risk is before you venture forward. And the bottom line is, you must want to do it before you do it. It is risky. But as the saying goes, no risk, no reward.
Go out there and venture into the unknown for your financial well-being. It is obvious that many will stay average by playing it safe. We are taught to play it safe. To work well with others. Be the best employee. Most play it safe, and the system is designed to keep them there. Don’t be like those who would rather stay safe, but yet to criticize those who want to venture ahead.
To your success.
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