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Business, Economics, and Taxes: Capitalism. Yay? >=(

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Palm oil is like a schedule 1 drug. Up there with petroleum, coal, natural diamonds, and Republicanism.

Fundamentalism. Supply Side.

The irony about diamonds is 99%+ of their price is artificially created scarcity enforced by a cartel. The actual market value of diamonds, allowing for full exploitation and distribution of the global inventory, is a portion of a penny on a dollar.

Anybody who buys a diamond is, quite literally, a fool. They are buying a pet rock.
 
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That is 100% true. (I am a Jew of course I have relatives in the Diamond Business) Diamonds are a joke but shrewd ad campaigns have convinced people they are a necessity to show you how you feel. DeBeers has warehouses filled with diamonds...
 
I went with a lab diamond for the engagement ring. Cheaper, better quality, less baggage. It’s pretty and the ring is gorgeous. I didn’t end up going with a huge rock. Even the saleswoman told me to go smaller. “Spend it on the honeymoon.” She was right.

I have zero regrets with the pet rock.
 
Fundamentalism. Supply Side.

The irony about diamonds is 99%+ of their price is artificially created scarcity enforced by a cartel. The actual market value of diamonds, allowing for full exploitation and distribution of the global inventory, is a portion of a penny on a dollar.

Anybody who buys a diamond is, quite literally, a fool. They are buying a pet rock.

Whatever, made my wife happy. I've "wasted" 2 grand on dumber things that that over the course of my life.
 
I also don’t think they’re that attractive.

i have no desire for marriage, but I’ll take a nice emerald or sapphire any day

Some - the ones with color -- are beautiful. I saw the Hope at the Smithsonian and holy crap it's stunning. The setting is pure trash.

diamond_hope_main-wr.jpg

Fig. 1 The Hope


There are red diamonds that are breathtaking, too. Diamond facets are undoubtedly impressive and when they have color and contrast you can actually see them to advantage.

bd457a782369e02eb4cacb59786d0c19.jpg

Fig 2. The Hancock Red. Essentially, the Pink Panther.


But every diamond under $1M is either boring or outright stupid looking. They're like watermelon and hookers -- the top of the line are worth it but everything affordable stay away.

BN-UY618_DEUCE0_TOP_20170905165920.jpg

Fig 3. Affordable Diamonds (Proof of Concept)
 
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I went with a lab diamond for the engagement ring. Cheaper, better quality, less baggage. It’s pretty and the ring is gorgeous. I didn’t end up going with a huge rock. Even the saleswoman told me to go smaller. “Spend it on the honeymoon.” She was right.

I have zero regrets with the pet rock.

SPEND IT ON THE HOUSE.

We told our daughter she could have $x dollars for her wedding or $2x for her down payment. She told us later she would have taken it even at 1:1.

Daughter; I am appoint! :-)
 
Some - the ones with color -- are beautiful. I saw the Hope at the Smithsonian and holy crap it's stunning. The setting is pure trash.

diamond_hope_main-wr.jpg

Fig. 1 The Hope


There are red diamonds that are breathtaking, too. Diamond facets are undoubtedly impressive and when they have color and contrast you can actually see them to advantage.

bd457a782369e02eb4cacb59786d0c19.jpg

Fig 2. The Hancock Red. Essentially, the Pink Panther.


But every diamond under $1M is either boring or outright stupid looking. They're like watermelon and hookers -- the top of the line are worth it but everything affordable stay away.

The settings make or break all jewelry. I remember shopping for the ring. First store I went into (national chain) and said i wanted something simple and not fancy. Saleswoman proceeded to show me some gaudy shiat with over the top settings.

Went to the local store across the mall next. Proceeded to show me several things that actually matched what I wanted, basically a solitaire jewel. At that point was just a matter of picking the diamond; went with a 1/2 carat Russian diamond.
 
The settings make or break all jewelry. I remember shopping for the ring. First store I went into (national chain) and said i wanted something simple and not fancy. Saleswoman proceeded to show me some gaudy shiat with over the top settings.

Went to the local store across the mall next. Proceeded to show me several things that actually matched what I wanted, basically a solitaire jewel. At that point was just a matter of picking the diamond; went with a 1/2 carat Russian diamond.

My now-wife had already picked out the ring and gently nudged (bludgeoned) me towards it. Not a large diamond, rather a collection of small diamonds and some chips. It kept the price down dramatically compared to the bigger solitaire settings, and it gives the illusion of a much more expensive ring to people who either don't know better or aren't paying attention.
 
Fundamentalism. Supply Side.

The irony about diamonds is 99%+ of their price is artificially created scarcity enforced by a cartel. The actual market value of diamonds, allowing for full exploitation and distribution of the global inventory, is a portion of a penny on a dollar.

Anybody who buys a diamond is, quite literally, a fool. They are buying a pet rock.
Eh. In purely economic terms, it’s only a “foolish” investment if something in the market changes so that the scarcity perceived by consumers becomes significantly less. It’s probably not a “great” investment vs. say, a no-load index fund, but you won’t lose your shirt unless DeBeers does something foolish. Buying a diamond is a bet that DeBeers can continue to maintain its monopoly and therefore control the effective supply upon which the market operates.

Of course, if you’re thinking about the resale value when you’re buying (retail) diamonds, you should put more effort into picking a different girl first!
 
At some point, collecting heads instead of repayments is going to be more palatable. The second GOP voters realize what the 1% has done to them, it’s going to be very, very ugly for them.

I honestly feel like we have to be close to what pre-revolution France was like in the class divide. Just have to be. Because I can’t fathom it any worse.

Also, to be positively clear, I’m not actually calling for violence. I think it will be much more satisfying to rip their money from their hands and send them to ReNeducation camps.
 
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Hey now...Rover and SJHovey told us PPP was awesome! How dare you bring facts in (again and again) that say otherwise!
 
Hey now...Rover and SJHovey told us PPP was awesome! How dare you bring facts in (again and again) that say otherwise!

So, someone commits fraud against a government program, the government program is sh1t? That's some pretty stellar thinking there. Probably should cancel the second round of stimulus checks just because Rittenhouse used his $1200 to buy an AK-47 and blast a couple of people. And medicare, don't even get me started with that one.
 
Eh. In purely economic terms, it’s only a “foolish” investment if something in the market changes so that the scarcity perceived by consumers becomes significantly less. It’s probably not a “great” investment vs. say, a no-load index fund, but you won’t lose your shirt unless DeBeers does something foolish. Buying a diamond is a bet that DeBeers can continue to maintain its monopoly and therefore control the effective supply upon which the market operates.

Of course, if you’re thinking about the resale value when you’re buying (retail) diamonds, you should put more effort into picking a different girl first!
So diamonds are little different from Magic: The Gathering cards, basically relying upon one company to not f- up the market?
 
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