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OTHER STUFF => Reading, Books, & Sheeit => Topic started by: Mikey on October 18, 2018, 09:40:13 am

Title: Book Journal
Post by: Mikey on October 18, 2018, 09:40:13 am
I love reading books so I thought I'd create this thread and update it whenever I read a new book and give it a promotion and a brief discussion of what it's about. Most of the books I read are biographies of athletes. I also enjoy reading books about finance and wealth because I want to be financially secure in life.

Title: Re: Book Journal
Post by: Mikey on October 18, 2018, 09:53:25 am
(https://www.booktopia.com.au/http_coversbooktopiacomau/big/9781589795471/the-millionaire-next-door.jpg)

For anybody that wants to read this but doesn't want to purchase it or can't find it at a library you can read it for free on google as there is a free pdf download.

The book is similar to what the title suggests and profiles people that have a net worth of $1M+ USD. Most people equate income with wealth and also luxury goods etc. However, this book explains that the overwhelming majority of wealthy people are usually just above-average income earners (usually from small business) who strictly follow the principle of spending less than they earn and avoiding the lifestyle trap of 'keeping up with the Jones'. The money saved from consumerism gets invested, which has a compounding effect leading to a high net worth.

It was a good book but gets a bit repetitive.
Title: Re: Book Journal
Post by: LBSS on October 18, 2018, 10:45:37 am
+1 good thread. i <3 books. started using goodreads.com to keep track of books read and books to be read, pretty good system. there's a social element, too, so you can have friends and follow what they're reading and planning to read. my gf is on there and a few other friends. i enjoy, ymmv.

right now i'm reading behemoth: a history of the factory and the making of the modern world, by joshua freeman; home fire, by kamila shamsie; and the island of doctor moreau, by hg wells (out loud with my gf).
Title: Re: Book Journal
Post by: seifullaah73 on October 18, 2018, 01:02:44 pm
Great idea for a thread. I love to read.
Just a side note. what happened to upvote arrows on this thread and the reply posts.
Nonexistent.
Title: Re: Book Journal
Post by: Mikey on October 23, 2018, 07:42:45 am
(https://d4816a87f37a8e52467c-9b6e101bd09e53b5f1c6bfd4121ad463.ssl.cf4.rackcdn.com/s/1/1464054523/harpercollins_au_frontbookcovers_648H/81731.jpg)

Working Class Boy is an autobiography of an Australian rock legend in Jimmy Barnes. He was first recognised when he was in the band Cold Chisel before going solo. As the title suggests this book is about his childhood growing up in Scotland before moving to Elizabeth in Adelaide, South Australia when he was a young kid.

Growing up in Glasgow was rough and his father was a working class man who was formerly a handy boxer and loved a drink as many Scots do. His mum married his father when she was 16 and they had several kids. Life was hard in Scotland (the alcoholism didn't help) so they decided to move to Australia for a new life. Unfortunately the problems they encountered in Scotland were exactly the same in Elizabeth. Money was always an issue because his dad would work all day and spend the whole pay drinking at the pub, which lead to domestic violence etc. At the age of 9 his mum walked out the on family and his dad was never home so it was up to his older sister to run the house.

Eventually Jimmy reunited with his mum and his step-dad took him in along with 5 of his siblings but throughout this period he was involved with gangs etc. but he had a natural talent for singing and joined a band and the rest is history.

Commentators of the book called his childhood "harrowing" but growing up in the same city I would say it's more common and normal then harrowing because even today in my city there are literally tens of thousands of kids experiencing the same childhood as Jimmy.
Title: Re: Book Journal
Post by: Mikey on October 30, 2018, 05:48:34 am
(https://www.biblioimages.com/macmillanaus/getimage.aspx?class=books&assetversionid=397045&cat=default&size=large&id=27128)

Absolute gun AFL player and ended up setting the AFL record as most games played. Harvey had elite skill and he could win the footy in the back-half and run away from just about anyone, bouncing it all the way. Despite being an U18 All-Australian, a premiership player with the Northern Knights, winning the best on-ground in the TAC Cup Grand Final and testing well at the draft camp Harvey almost didn't get drafted. Most recruiters overlooked him as being too short (5'8) and too small to be able to play AFL. However, his explosive speed and supreme skill saw him getting drafted as a late pick and within a few years he went onto become a Premiership player as well as picking up numerous individual achievements.

Harvey used his size as a chip on his shoulder and constant motivation. He used the disappointments from being overlooked for junior rep teams and even taunted by rival players about his size as constant motivation and to never get complacent. Harvey's younger brother also played in the AFL (albeit a much less successful career) and Harvey said his little brother was a much more talented player then him and just as athletic, if not moreso. However, his brother lacked the motivation and professionalism to be an AFL players so within a couple of years the league had churned him up.

Good read, particularly for AFL fans.
Title: Re: Book Journal
Post by: AGC on October 30, 2018, 07:49:28 pm
Yes, he was a great player. I lived in NM when he was dropped/retired, and it was a pretty big deal at the club (I went to the public gym/rec centre at their Arden st facility).

Also, this always cracks me up:

(5'8)

Title: Re: Book Journal
Post by: adarqui on October 30, 2018, 09:50:19 pm
weird. I just enabled good post/bad post on this board, didn't know I had to specify it for a new board.

+1 great thread :D
Title: Re: Book Journal
Post by: Mikey on October 31, 2018, 04:28:00 am
Yes, he was a great player. I lived in NM when he was dropped/retired, and it was a pretty big deal at the club (I went to the public gym/rec centre at their Arden st facility).

Also, this always cracks me up:

(5'8)

When I first started watching AFL I thought he was the little brother of Robert Harvey- this was at Robert Harvey's peak in the late 90's where he'd get 35 touches a game and was considered an elite player and I always thought 'Gee his little brother is a great player as well but doesn't get too many mentions from the commentators'. It wasn't until a few years later when I worked out that they weren't related. Boomer's little brother was Shane Harvey.
Title: Re: Book Journal
Post by: Mikey on November 21, 2018, 08:25:57 pm
(https://dynamic.indigoimages.ca/books/1612680887.jpg?altimages=true&scaleup=true&maxheight=515&width=380&quality=85&sale=9&lang=en)

I read Robert Kiyosaki's book 'Why the Rich are Getting Richer'. If any of you have read Rich Dad Poor Dad you'll find that Kiyosaki tends to ramble and embellishes a lot of stories about his 'rich dad'. The gist of Why the Rich are Getting Richer is because instead of focusing on income, the rich are focusing on growing their asset base, which unlike income from a job is taxed at a much lower rate. For example if you earn 70k from a job you'll pay 14k in tax so you're left with 56k. However, if you invest in a house and it realises a capital gain of 70k in one year no tax is paid and the house also provides rental income. The capital gain of the house can then be leveraged to purchase more assets. He basically says that the poor/middle class are too busy focusing on income and consuming instead of working on accumulating assets.

The controversial part of the book is that Kiyosaki believes the approach used in "The Millionaire Next Door" of living below your means and setting aside 10% of your income for investment in stocks is now redundant. He frequently mentions that savers are losers and advocates for taking on large amounts of debt using Donald Trump as an example of master of debt.
Title: Re: Book Journal
Post by: adarqui on November 21, 2018, 11:05:04 pm
(https://dynamic.indigoimages.ca/books/1612680887.jpg?altimages=true&scaleup=true&maxheight=515&width=380&quality=85&sale=9&lang=en)

I read Robert Kiyosaki's book 'Why the Rich are Getting Richer'. If any of you have read Rich Dad Poor Dad you'll find that Kiyosaki tends to ramble and embellishes a lot of stories about his 'rich dad'. The gist of Why the Rich are Getting Richer is because instead of focusing on income, the rich are focusing on growing their asset base, which unlike income from a job is taxed at a much lower rate. For example if you earn 70k from a job you'll pay 14k in tax so you're left with 56k. However, if you invest in a house and it realises a capital gain of 70k in one year no tax is paid and the house also provides rental income. The capital gain of the house can then be leveraged to purchase more assets. He basically says that the poor/middle class are too busy focusing on income and consuming instead of working on accumulating assets.

The controversial part of the book is that Kiyosaki believes the approach used in "The Millionaire Next Door" of living below your means and setting aside 10% of your income for investment in stocks is now redundant. He frequently mentions that savers are losers and advocates for taking on large amounts of debt using Donald Trump as an example of master of debt.

good summary! sounds like an interesting read.

rant-tangent: lol @ taking on lots of debt tho like "trump". how do we also take on hundreds of millions of dollars from our fathers? :ninja: I dno I just think he's an awful example of pretty much anything. For the most part, I just personally hate "silverspoon" examples if we're also talking about poor/middle class in the same breath.

lmao.

pc!
Title: Re: Book Journal
Post by: LBSS on November 25, 2018, 10:12:45 am
trump is a con artist who was set up by his cunning but amoral slum lord of a father and then repeatedly bailed out by the man for most of his life. not a great example of "how to get rich" even if you're already rich.
Title: Re: Book Journal
Post by: Mikey on November 27, 2018, 06:27:00 am
trump is a con artist who was set up by his cunning but amoral slum lord of a father and then repeatedly bailed out by the man for most of his life. not a great example of "how to get rich" even if you're already rich.

Fair call!

Kiyosaki is close with Trump, which is probably why he used him as an example.

Kiyosaki was referring to taking on debt to buy assets e.g. residential property and then when the asset appreciates use the equity as a deposit for another property. As a result your debt has increased but so has your potential wealth assuming the property generates rental income and appreciates over time.
Title: Re: Book Journal
Post by: Mikey on November 30, 2018, 06:22:29 am
(https://www.booktopia.com.au/http_coversbooktopiacomau/600/9781925265712/michael-yardney-s-guide-to-getting-rich.jpg)

Basically a book about mindset, spending less then you earn, saving 20-30% of your income and investing that savings into assets.

I can't wait to purchase another house!!! Currently I have 671k worth of property (bank valuation from September 2018) and debts against those properties of 560k. My plan is to work on reducing my debts against my PPOR and then purchasing another house in late 2019/early 2020.
Title: Re: Book Journal
Post by: adarqui on November 30, 2018, 08:53:00 am
(https://www.booktopia.com.au/http_coversbooktopiacomau/600/9781925265712/michael-yardney-s-guide-to-getting-rich.jpg)

Basically a book about mindset, spending less then you earn, saving 20-30% of your income and investing that savings into assets.

hah nice. i save everything.

Quote
I can't wait to purchase another house!!! Currently I have 671k worth of property (bank valuation from September 2018) and debts against those properties of 560k. My plan is to work on reducing my debts against my PPOR and then purchasing another house in late 2019/early 2020.

damn nice!!
Title: Re: Book Journal
Post by: Mikey on January 07, 2019, 02:30:23 am
(https://media.bloomsbury.com/rep/bj/9781408893722.jpg)

Basically a book about the limitations of GDP and how GDP is difficult to calculate for developed countries as developed countries are increasingly becoming service economies. GDP for developing countries is also difficult to calculate and the author hypothesizes that GDP in developing countries is actually being underestimated.

The main premise of the book is that policy makers should look beyond GDP figures as the be all end all since GDP has limitations. Instead he likens it to a car dashboard where the GDP is the speed of the car but you also need to know how much fuel you have and the temperature to see how the car is tracking. Therefore, policy makers should also include GDP per capita, median income, inequality, net domestic product, well being and CO₂ emissions instead of primarily focusing on GDP.

(https://images-na.ssl-images-amazon.com/images/I/51GyVJMt4RL._SX329_BO1,204,203,200_.jpg)

The author shadows 8 entry level investment bankers from firms including Goldman Sachs, Bank of America Merrill Lynch, and Credit Suisse. It was an enjoyable book where the three year timeline coincided with the Occupy Movement. Spoiler half of the 8 entry level investment bankers left the industry after two years. The book questioned whether the financial industry will continue to attract the best and brightest young talent in the future and whether the GFC will have any lasting culture changes on the finance sector.
Title: Re: Book Journal
Post by: Mikey on January 07, 2019, 07:45:02 am
(https://www.penguinrandomhouse.co.za/sites/penguinbooks.co.za/files/styles/jacket-large/public/cover/9781846044977_4.jpg?itok=sWw1oCDL)

This was an excellent read and makes you put life in perspective! Xu Hongci was a communist member studying Medicine but he became disenchanted with some of the policies of Mao Zedong and when he shared his constructive criticism with party members he was labelled as a revolutionary and sent to 20 years prison working in a labor camp. Trivial offences were enough to land anyone in prison. For example two 10 years old were sentenced to 12 & 15 years in prison for writing 'Down With Mao Dezong' on a toilet wall and craving 'Down with Mao Zedong' on a pumpkin respectively.

It's estimated that between 50-70 million Chinese citizens died during Mao Zedong's tenure. Many of these deaths were due to malnourishment and starvation as a result of Mao's policies of turning arable farmland into useless backyard furnaces. Conditions in the labour camps were even worse as prisoners were forced to do manual labour for 20 hours a day and fed with one meal a day- a bowl of rice. Prisoners often died of starvation and disease from squalor living conditions (sleeping on the floor 10 in a small cell). The ones that didn't die of disease or starvation were beaten and tortured depending on how sadistic the prison management was.

Xu spent 14 years in a labour camp until he managed to escape to Mongolia. Of the 550,000 labour camp inmates he is one of the only people (if not the only) who escaped and avoided recapture (execution was punishment) to tell his tale.
Title: Re: Book Journal
Post by: Mikey on January 07, 2019, 08:11:54 am
Reading Xu Hongci's biography after reading 'Young Money' by Kevin Roose exemplifies the hedonistic treadmill all of us are on  as humans. Xu spent most of his life starved, exiled and in parts tortured despite being a doctor (he was studying Medicine but often worked/assisted doctors in the labor camps). After escaping the labor camp he fled to Mongolia and worked as a laborer for many years but was happy as he had his freedom and enough money to live on. In comparison in 'Young Money' we have Ivy League graduates earning 200k USD a year feeling miserable as they question their value to society, and the hours and dedication spent to their jobs prevent them from maintaining relationships with friends/family.

Title: Re: Book Journal
Post by: LBSS on January 09, 2019, 02:45:23 am
yo if you're interested in the growth delusion, check out doughnut economics, by kate raworth. goes way beyond the limitations of GDP to suggest an entirely new set of metaphors and basic measures for economic health.
Title: Re: Book Journal
Post by: Mikey on January 09, 2019, 07:48:18 am
yo if you're interested in the growth delusion, check out doughnut economics, by kate raworth. goes way beyond the limitations of GDP to suggest an entirely new set of metaphors and basic measures for economic health.

Thanks LBSS I love reading books about economics.

https://www.theguardian.com/commentisfree/2017/apr/12/doughnut-growth-economics-book-economic-model

The book sounds interesting. I'll see if my local library has it (if not I'll ask them to order a copy).
Title: Re: Book Journal
Post by: Mikey on February 01, 2019, 06:44:25 am
(https://www.marlowesbooks.com/assets/full/148453.jpg)

Since 2007 no Australian Prime Minister that has been elected has sat out a full term. We've had 5 Prime Ministers in the last 12 years. Abbott was always a divisive figure but this book gave great insight into all the issues behind the scenes, which were predominantly his manipulative chief of staff Peta Credlin who he refused to get rid of.
Title: Re: Book Journal
Post by: Mikey on February 10, 2019, 03:20:34 am
(https://images-na.ssl-images-amazon.com/images/I/513lTd7pVTL._SX336_BO1,204,203,200_.jpg)

Incredible book! Karl Marlantes is a very smart man and articulates his war experiences brilliantly.

Review from Amazon-
In 1968, at the age of twenty-three, Karl Marlantes was dropped into the highland jungle of Vietnam, an inexperienced lieutenant in command of a platoon of forty Marines who would live or die by his decisions. Marlantes survived, but like many of his brothers in arms, he has spent the last forty years dealing with his war experience. In What It Is Like to Go to War, Marlantes takes a deeply personal and candid look at what it is like to experience the ordeal of combat, critically examining how we might better prepare our soldiers for war. Marlantes weaves riveting accounts of his combat experiences with thoughtful analysis, self-examination, and his readings—from Homer to The Mahabharata to Jung. He makes it clear just how poorly prepared our nineteen-year-old warriors are for the psychological and spiritual aspects of the journey.
Title: Re: Book Journal
Post by: Mikey on February 27, 2019, 05:30:22 am
Another book by Karl Marlantes.

(https://i.gr-assets.com/images/S/compressed.photo.goodreads.com/books/1431983015i/6411016._UY475_SS475_.jpg)

This is a detailed war experience from Karl Marlantes who was an Infantry Officer in the Vietnam War. It's an incredible book that makes you feel like your in the harbinger jungles of Vietnam. The title is called Matterhorn, which is named after a platoon that Marlantes lost half his platoon in seizing, which was ironic as they had previously seized the same hill only to be ordered off elsewhere.

http://www.youtube.com/watch?v=wTJsiXOeMIE

Title: Re: Book Journal
Post by: LBSS on February 27, 2019, 09:08:17 am
if you're interested in books about war, which would make sense under your current circumstances, have you read The Things They Carried? classic. also svetlana alexievich's oral history of soviet women combatants in WW2, The Unwomanly Face of War, is one of the best things i read last year.
Title: Re: Book Journal
Post by: Mikey on December 01, 2019, 03:39:08 am
if you're interested in books about war, which would make sense under your current circumstances, have you read The Things They Carried? classic. also svetlana alexievich's oral history of soviet women combatants in WW2, The Unwomanly Face of War, is one of the best things i read last year.

I haven't posted in this thread for a while. I haven't read either of those books but I will have a look in the library. The Things They Carried sounds like a great book, particularly since it's based on the Vietnam War.

Lately I've been reading mostly books about personal finance including the following:

(http://static.libsyn.com/p/assets/9/a/9/7/9a9724f45e32a464/download.jpg)
(https://uploads-ssl.webflow.com/5ad143610f7efd77b6f188f3/5b34f27cffae7e7c5ff7ea78_51d8ENzwDuL._SX317_BO1%2C204%2C203%2C200_.jpg)
(https://d1w7fb2mkkr3kw.cloudfront.net/assets/images/book/lrg/9781/4894/9781489460752.jpg)

Reading these books has really inspired me to focus more on my superannuation so I can retire being financially independent. All of these books hammer home the message of compounding growth and spending less than you earn and investing the difference in the stock market, which should preferably be in low cost index fund. In Australia we have compulsory superannuation so employers invest 9.5% of your salary into super. However, making the minimal contributions won't be enough for most people so you have to invest more. Scott Pape recommends investing at least 15% of your salary into super and Tony Robbins recommends investing 20% of your salary into index funds to be able to retire financially independent.

I've contacted payroll and got them to contribute an extra 3% of my salary to super. I've got mortgages and student debt atm that I have to pay down, which is why I'm only investing 12.5% of my total salary but I plan on increasing the amount whenever I get a pay rise by contacting payroll. Assuming the stock market returns historical returns of around 10%  I should be able to retire when I have $1 million in Super (670k US dollars).

Compound growth illustration from Unshakeable:
(https://instantcoffeewisdom.files.wordpress.com/2017/11/chart1000000.jpg?w=840)

Edit- I'm 29 and so far my super is where Joe was at when he was 25.
(https://scontent.fadl5-1.fna.fbcdn.net/v/t1.15752-9/78426088_439184617009288_4639653604213391360_n.jpg?_nc_cat=110&_nc_ohc=MY3PuIvOjBUAQmMoeMTKaJe13rH86Y_2-eTiP_rw0ELXVeT71KHLPnSFA&_nc_ht=scontent.fadl5-1.fna&oh=d17b6ded8a40e2d93475ade1316c9d04&oe=5E46D94D)
Title: Re: Book Journal
Post by: Mikey on December 19, 2019, 09:29:20 am
(https://images-na.ssl-images-amazon.com/images/I/51C576OYLfL.jpg)

This was a great read and quite eye opening.
http://theconversation.com/book-review-clive-hamiltons-silent-invasion-chinas-influence-in-australia-93650

(https://images.kogan.com/image/fetch/s--IfZ27SKr--/b_white,c_pad,f_auto,h_502,q_auto:good,w_753/https://assets.kogan.com/images/booksbatch/BKT-9781760875152/life-sentence-my-last-eighteen-months.jpg)

If you're a fan of Underbelly you will enjoy this book. It's not a biography it's just a compilation of letters that Carl Williams wrote to various associates in the 18 months prior to him getting murdered in prison.
Title: Re: Book Journal
Post by: Mikey on January 04, 2020, 08:49:01 am
(https://images-na.ssl-images-amazon.com/images/I/51P4MmfWRGL._SX310_BO1,204,203,200_.jpg)

This book was a great read!

"For decades, politicians- Republicans and Democrats both- and pundits had all been spewing empty platitudes of praise for "the heartland", "real America", and "small-town values". Then, with shameless hypocrisy, they supported the very policies that helped destroy thriving small towns.
Corporate elites said they needed free trade agreements, so they got them. Manufacturers said they needed tax breaks and public-money incentives in order to keep their plants operating in the United States, so they got them. Banks and financiers needed looser regulations, so they got them. Employers said they needed weaker unions- or no unions at all- so they got them. Private equity firms said they needed carried interest and secrecy, so they got them. Everybody, including Lancastrians themselves, said they needed lower taxes, so they got them. What did Lancaster and a hundred other towns like it get? Job losses, slashed wages, poor civic leadership, social dysfunction, drugs".
Title: Re: Book Journal
Post by: Mikey on January 06, 2020, 07:27:18 am
(https://images.penguinrandomhouse.com/cover/700jpg/9780449009727)
Title: Re: Book Journal
Post by: LBSS on January 06, 2020, 07:33:37 am
^^^ that book rules.
Title: Re: Book Journal
Post by: adarqui on January 11, 2020, 01:26:41 am
(https://images-na.ssl-images-amazon.com/images/I/51P4MmfWRGL._SX310_BO1,204,203,200_.jpg)

This book was a great read!

"For decades, politicians- Republicans and Democrats both- and pundits had all been spewing empty platitudes of praise for "the heartland", "real America", and "small-town values". Then, with shameless hypocrisy, they supported the very policies that helped destroy thriving small towns.
Corporate elites said they needed free trade agreements, so they got them. Manufacturers said they needed tax breaks and public-money incentives in order to keep their plants operating in the United States, so they got them. Banks and financiers needed looser regulations, so they got them. Employers said they needed weaker unions- or no unions at all- so they got them. Private equity firms said they needed carried interest and secrecy, so they got them. Everybody, including Lancastrians themselves, said they needed lower taxes, so they got them. What did Lancaster and a hundred other towns like it get? Job losses, slashed wages, poor civic leadership, social dysfunction, drugs".

^^ damn.
Title: Re: Book Journal
Post by: Mikey on January 11, 2020, 01:58:39 am
(https://images-na.ssl-images-amazon.com/images/I/51P4MmfWRGL._SX310_BO1,204,203,200_.jpg)

This book was a great read!

"For decades, politicians- Republicans and Democrats both- and pundits had all been spewing empty platitudes of praise for "the heartland", "real America", and "small-town values". Then, with shameless hypocrisy, they supported the very policies that helped destroy thriving small towns.
Corporate elites said they needed free trade agreements, so they got them. Manufacturers said they needed tax breaks and public-money incentives in order to keep their plants operating in the United States, so they got them. Banks and financiers needed looser regulations, so they got them. Employers said they needed weaker unions- or no unions at all- so they got them. Private equity firms said they needed carried interest and secrecy, so they got them. Everybody, including Lancastrians themselves, said they needed lower taxes, so they got them. What did Lancaster and a hundred other towns like it get? Job losses, slashed wages, poor civic leadership, social dysfunction, drugs".

^^ damn.

It's a great book. When inequality goes up, social mobility goes down. There's almost no country on earth where the American Dream is less likely to come true than in the USA. Anybody eager to work their way up from rags to riches is better off trying their luck in Sweden, where people born into poverty can still hold out hope of a brighter future. You have corporate lawyers in the USA earning $1200 an hour while the factory workers are earning $12 an hour while the lawyers are working out how to liquidate it!
Title: Re: Book Journal
Post by: Mikey on January 18, 2020, 02:39:54 am
(https://img.tradingpost.com.au/9JZ3LWVQ/RCZBNV/3J49-Boxed640x480.jpg)

"We live in a time of unprecedented upheaval, with questions about the future, society, work, happiness, family and money, and yet no political party of the right or left is providing us with answers. Rutger Bregman, a bestselling Dutch historian, explains that it needn't be this way.

Bregman shows that we can construct a society with visionary ideas that are, in fact, wholly implementable. Every milestone of civilization – from the end of slavery to the beginning of democracy – was once considered a utopian fantasy. New utopian ideas such as universal basic income and a 15-hour work week can become reality in our lifetime.

This guide to a revolutionary yet achievable utopia is supported by multiple studies, lively anecdotes and numerous success stories. From a Canadian city that once completely eradicated poverty, to Richard Nixon's near implementation of a basic income for millions of Americans, Bregman takes us on a journey through history, beyond the traditional left-right divides, as he introduces ideas whose time has come".

Title: Re: Book Journal
Post by: Mikey on January 18, 2020, 02:58:44 am
(https://hachette.imgix.net/books/9781473610606.jpg?auto=compress,format&w=440)

This book is basically about an Irishman who immigrated to the USA and joined the NYPD and his experiences being a cop.

He described felons as this:
"Felons are, in reality, non-persons in the USA. At best, from the moment the judge’s gavel falls until the day they die they are second class citizens, with none of the rights the rest of us take for granted, including grant aid, which is automatically denied to anyone convicted of a felony. That means if you do try to turn your back on crime, there will be no money for college or business start-ups and no place for you in public housing. Felons are not allowed to vote, and at anytime they can be stopped and questioned by members of law enforcement who have a reasonable suspicion they are up to no good. A felony conviction ends your life as you know it".

No wonder the USA has such high recidivism rates compared to other developed countries!!!

More insightful Review of the book:
https://www.irishtimes.com/culture/books/nypd-green-by-luke-waters-review-an-irish-cop-s-lively-memoir-1.2241751

Title: Re: Book Journal
Post by: Mikey on February 23, 2020, 06:19:01 am
(https://images-na.ssl-images-amazon.com/images/I/51QSzwBiSxL._SX324_BO1,204,203,200_.jpg)

Very alarmist book wrote in 2014 and none of the predictions came true. Quite opposite with booming real esate and share markets!

(https://i.ebayimg.com/images/g/dPYAAOSwA5ReIX0W/s-l640.jpg)

(https://m.media-amazon.com/images/I/51u8f3g5doL._SL500_.jpg)

Book co-wrote by Robert Kiyosaki and Trump with most of the contribution coming from Kiyosaki. They discuss how the US system of pensions/welfare is unsustainable and how you can't depend upon the government to look after you.
Title: Re: Book Journal
Post by: LBSS on February 23, 2020, 08:41:54 am
i'm gonna go out on a limb and say the last book is full of shit.
Title: Re: Book Journal
Post by: Coges on February 23, 2020, 08:30:30 pm
i'm gonna go out on a limb and say the last book is full of shit.

I haven't read the book but I can imagine the message. Don't rely on others and make money to look after yourself. He/it may not be to everyone's liking but I think it's a message more people need to listen to. Making money is a different kind game to what everyone is taught in school. 
Title: Re: Book Journal
Post by: LBSS on February 24, 2020, 02:54:58 pm
i'm gonna go out on a limb and say the last book is full of shit.

I haven't read the book but I can imagine the message. Don't rely on others and make money to look after yourself. He/it may not be to everyone's liking but I think it's a message more people need to listen to. Making money is a different kind game to what everyone is taught in school.

the lie is deeper than that, though. the US welfare system is strained because people like donald trump want it to be. we have the resources to do a better, fairer job looking after each other than we do. that we don't is a political choice, and it's one that books like that play a part in supporting.

i'm not saying making money is wrong, or that self-help books focusing on how to invest better or save or whatever are all useless or false. you're right: we don't learn nearly enough in school about how money and finance work and if you're not born rich there's no obvious place to start learning stuff like that. i've got a book like that on the shelf: the millionaire teacher. but i haven't read it because thinking about money and investing and long-term and blah blah blah is intimidating and it's easier to muddle through.

but convincing poor people that the government can't help them, that any sense of collective responsibility is a constraint on individual potential, and they should rely on themselves is one of the most important strategies of economic and political elites have used to drive the concentration of wealth at the top, the gradual hollowing out of the middle class, and worsening quality of life for the poor in the US, UK, and other places over the last 40 years (not to mention a lot of other problems). i mean, class mobility is worse in the US than in the UK, which still has a real live aristocracy. plus, human beings are social, we rely on each other all the time! the idea that we don't or shouldn't is ludicrous, and it's worth thinking about who that idea serves. the 20th-century ideal of a man who goes out and works to feed his family of four while his wife takes care of the kids and the house relies on the wife taking care of the kids and the house without being paid. erasing that interconnectedness and reinforcing the idea that everyone is an individual whose sole purpose is to maximize their own gain is just wrong.

so sure, look out for yourself, try to make more money, yeah. but i wish more people would think about how to make our shared institutions do a better job of looking out for everyone. and for the love of god, who on earth would take financial advice from donald fucking trump? born rich as hell, a deeply terrible businessman who's gone bankrupt multiple times only to be bailed out repeatedly by his racist slumlord father, he'd be richer than he is today if he'd put the cash daddy gave him in an index fund and then sat back and done nothing. and he's now a deeply corrupt president who is using the US government as a way to funnel cash to his businesses. anything he has to say about finance is either stolen from somebody else -- in which case just go read that person -- or a lie.
Title: Re: Book Journal
Post by: Mikey on February 25, 2020, 05:36:01 am
i'm gonna go out on a limb and say the last book is full of shit.

I haven't read the book but I can imagine the message. Don't rely on others and make money to look after yourself. He/it may not be to everyone's liking but I think it's a message more people need to listen to. Making money is a different kind game to what everyone is taught in school.

the lie is deeper than that, though. the US welfare system is strained because people like donald trump want it to be. we have the resources to do a better, fairer job looking after each other than we do. that we don't is a political choice, and it's one that books like that play a part in supporting.

i'm not saying making money is wrong, or that self-help books focusing on how to invest better or save or whatever are all useless or false. you're right: we don't learn nearly enough in school about how money and finance work and if you're not born rich there's no obvious place to start learning stuff like that. i've got a book like that on the shelf: the millionaire teacher. but i haven't read it because thinking about money and investing and long-term and blah blah blah is intimidating and it's easier to muddle through.

but convincing poor people that the government can't help them, that any sense of collective responsibility is a constraint on individual potential, and they should rely on themselves is one of the most important strategies of economic and political elites have used to drive the concentration of wealth at the top, the gradual hollowing out of the middle class, and worsening quality of life for the poor in the US, UK, and other places over the last 40 years (not to mention a lot of other problems). i mean, class mobility is worse in the US than in the UK, which still has a real live aristocracy. plus, human beings are social, we rely on each other all the time! the idea that we don't or shouldn't is ludicrous, and it's worth thinking about who that idea serves. the 20th-century ideal of a man who goes out and works to feed his family of four while his wife takes care of the kids and the house relies on the wife taking care of the kids and the house without being paid. erasing that interconnectedness and reinforcing the idea that everyone is an individual whose sole purpose is to maximize their own gain is just wrong.

so sure, look out for yourself, try to make more money, yeah. but i wish more people would think about how to make our shared institutions do a better job of looking out for everyone. and for the love of god, who on earth would take financial advice from donald fucking trump? born rich as hell, a deeply terrible businessman who's gone bankrupt multiple times only to be bailed out repeatedly by his racist slumlord father, he'd be richer than he is today if he'd put the cash daddy gave him in an index fund and then sat back and done nothing. and he's now a deeply corrupt president who is using the US government as a way to funnel cash to his businesses. anything he has to say about finance is either stolen from somebody else -- in which case just go read that person -- or a lie.

 I saw the book in the library and decided to give it a read. I remember about 7 years ago I read Rich Dad Poor Dad by Robert Kiyosaki and thought it was a great book at the time. It was different than the usual finance books that all have the same 'live below your means and save x amount' and eventually you'll be financially secure. Kiyosaki claims that saving is a waste of money because since the US came off the gold standard, banks just print money so inflation makes money worthless. Therefore, he advocates for investing in assets by using other people's money (OPM). The major point Kiyosaki omits is that in order to borrow OPM you have to have a sizable income. Rather then avoiding debt Kiyosaki explains the difference between good debt (assets that produce income) and bad debt and advocates for people not being afraid to use debt and leverage in order to build up a sufficient asset base.

https://www.thewealthadvisor.com/article/donald-trump-would-be-richer-if-hed-have-invested-index-funds

Literally half the book was just shameless self-promotion from Kiyosaki and Trump bragging about their wealth and the 90/10 rule. 90% of businesses fail while the other 10% thrive. They expect that in an increasingly globalised society this trend will become more entrenched. Ageing populations throughout the developed world were used as another the reason why the USA will not be able to provide adequate welfare for pensioners in the future.

The irony is that Trump and Republican politicians always claim that there isn't enough money to fund welfare, education and government services and are continually looking for "efficiencies". Yet they have no qualms about tax cuts that drain revenue and increase budget deficits, which they use as the justification for cutting services. In South Korea their currently undertaking uncoventional economic policy. The government has raised the minimum wage significantly and plans to fiscally stimulate the economy through increasing the public service and infrastructure spending. If the experiment is successful other countries may take note instead of following the same 'trickle down' policies and privitisation schemes, which have been implemented since Thatcher/Reagan in the 1980's.

Personally I hope for the best. Although, I'm preparing myself for the worst and investing for a rainy day.
Title: Re: Book Journal
Post by: Mikey on April 24, 2020, 09:32:55 am
Non-book related but my 401k took a substantial hit in March due to coronavirus.

(https://scontent.fadl5-1.fna.fbcdn.net/v/t1.15752-9/94243326_2409470046011731_3084574657911717888_n.png?_nc_cat=111&_nc_sid=b96e70&_nc_ohc=cqXfq4J6DFcAX-dfP9V&_nc_ht=scontent.fadl5-1.fna&oh=1c746be5654ba52a8aaf0cdd3198b649&oe=5EC9FF36)

I Plan to retire at 60 so I've got 31 years left if I live that long.
Title: Re: Book Journal
Post by: Mikey on April 24, 2020, 09:38:25 am
All of the libraries in my city have been closed for the last 4 weeks so I haven't read as much. Recently read the following books though:

(https://www.booktopia.com.au/http_coversbooktopiacomau/big/9780730321958/0000/myth-busting-economics.jpg)
(https://images-na.ssl-images-amazon.com/images/I/51gVpB8s0VL._SX327_BO1,204,203,200_.jpg)
Title: Re: Book Journal
Post by: Mikey on April 25, 2020, 12:32:15 am
This was a fascinating book.
(https://images-na.ssl-images-amazon.com/images/I/41lPisZAr%2BL._AC_SY400_.jpg)

I wouldn't be surprised if they make a movie out of this one day. It's based on the story of an American whistle blower who spent time working in Swiss banks.

https://www.nytimes.com/2012/09/12/business/whistle-blower-awarded-104-million-by-irs.html
Title: Re: Book Journal
Post by: Mikey on April 30, 2020, 06:24:53 am
(https://www.bigw.com.au/medias/sys_master/images/images/hb5/h4a/15260746285086.jpg)

"People who assist authorities in endeavouring to prosecute Paul Dale have a pretty poor life expectancy. Two of them have been murdered." - Gary Livermore lawyer for the Australian Crime Commission.

This book is from an ex-detective suspected of a double murder. He was charged with conspiracy to murder but ultimately the charges were dropped. Obviously he is going to say that he's innocent, but it's interesting how the police pursued him for 10 years and spent millions of dollars on convincing people to testify against him.

My opinion is that he didn't get anyone killed but as the head of a drug squad he was being accused of being corrupt as one of his detectives got busted robbing a known drug house with an informer. The informer stated that Paul Dale was also involved in the robbery and had planned it and they were going to split the proceeds. The detective refused to implicate Paul Dale. The police ended up charging Paul Dale with the robbery but before the trial commenced the informer and his wife were both shot in the back of the head in their residence, which led to the robbery charges for Paul Dale being dropped.

A few years later a convicted criminal was looking to make a plea bargain with police and alleges that Paul Dale came to him to organise for the informer to get murdered. Paul Dale denies this. Paul Dale's lawyer breached her client privilege and also came forward to the police implicating Paul Dale in the murder of the Hodson's. Paul Dale was charged for murder but before the case went to trial the convicted criminal got murdered in his cell for being a "dog".

 In his book  Paul Dale admitted that he he made people informers without their knowledge (Tommy Ivanovich) that could lead to these people being killed if their status was found out, albeit mistakenly as they never agreed to become informers. The evidence of him being involved in the robbery was all from a police informer who obviously had ulterior motives to try and lessen his sentence. Although, Paul Dale was a somewhat dodgy cop I don't think he would have been found guilty for the robbery, which is why I can't see why he would have ordered for the murder of the informer and his wife.

It was a a good read.
https://www.smh.com.au/lifestyle/bad-company-lifting-the-lid-on-the-terence-hodson-murder-case-20150116-12s24g.html
Title: Re: Book Journal
Post by: Mikey on July 07, 2020, 10:22:01 am
The library opened up again about a month ago so I've been doing a lot of reading on the train again.

Recent books I've read:

(https://cdn.shopify.com/s/files/1/0329/1031/1556/products/9781743314715_1024x1024.jpg?v=1593788958)
The book was similar to Freakonomics and just discussed how incentives can alter behavior. It was a good read.

(https://images-na.ssl-images-amazon.com/images/I/41cN3mjugSL._SY445_QL70_ML2_.jpg)
This was a fairly 'dry' read. It discusses and challenges mainstream economic theory and details the weaknesses of economics as a discipline and to what that means for economic analysis.

(https://images-na.ssl-images-amazon.com/images/I/519XT-njaeL._SX325_BO1,204,203,200_.jpg)
"Offering a range of practical reforms that it deems are essential and urgent, this compilation argues against Australia’s enthusiastic adoption of free-market economics. A unique perspective from a highly qualified expert, this volume explains how the triumph of a fundamentally flawed economic orthodoxy has weakened the economy and now threatens the country’s future. Examining the economic theories that have shaped Australia over the past 30 years, this account demonstrates the strategic strength of combining the bureaucracy and the media and proposes new tactics for prosperity and opportunity in times to come".

(https://www.booktopia.com.au/http_coversbooktopiacomau/big/9781509882205/0000/king-leopold-s-ghost.webp)
It's crazy that I had never learnt about this guy during high school! https://en.wikipedia.org/wiki/King_Leopold%27s_Ghost
"In the late nineteenth century, when the great powers in Europe were tearing Africa apart and seizing ownership of land for themselves, King Leopold of Belgium took hold of the vast and mostly unexplored territory surrounding the Congo River. In his devastatingly barbarous colonization of this area, Leopold stole its rubber and ivory, pummelled its people and set up a ruthless regime that would reduce the population by half. While he did all this, he carefully constructed an image of himself as a deeply feeling humanitarian".

The exact number of people killed in the Congo is unknown but it's estimated to be anywhere from 3-15 million people. Apart from being murdered they were forced onto expeditions and basically enslaved to build railroads and work on rubber plantations. If they weren't dying from disease and exhaustion they were having limbs and heads cut off for failing to meet rubber quotas. It wasn't until missionaries and people that couldn't be bought to silence started speaking out about what was happening in the Congo, that the international community finally started to take notice.
Title: Re: Book Journal
Post by: LBSS on July 07, 2020, 12:51:14 pm
if you liked those econ books, you might like doughnut economics, by kate raworth.

king leopold's ghost has been on the list for ages, how was it?
Title: Re: Book Journal
Post by: Mikey on July 09, 2020, 05:46:34 am
if you liked those econ books, you might like doughnut economics, by kate raworth.

king leopold's ghost has been on the list for ages, how was it?

King Leopold's Ghost is a long read but it's very informative. If you like reading about history you would enjoy the book.
Title: Re: Book Journal
Post by: LBSS on September 08, 2020, 10:19:08 am
Happy National Read A Book Day, everybody! These are the books I've read so far this year, including two in progress:

1. The Mother Tongue, by Bill Bryson
2. The Mushroom at the End of the World, by Anna Tsing
3. The Anarchy, by William Dalrymple
4. Station Eleven, by Emily St. John Mandel
5. Invisible Cities, by Italo Calvino
6. The Three-Body Problem, by Cixin Liu
7. The Dark Forest, by Cixin Liu
8. Death's End, by Cixin Liu
9. West With the Night, by Beryl Markham
10. Passing, by Nella Larsen
11. Parable of the Sower, by Octavia Butler
12. On Anarchism, by Noam Chomsky
13. The Mirror and the Light, by Hilary Mantel
14. The Underground Village, by Kang Kyeong-ae
15. Decolonizing Wealth, by Edgar Villanueva
16. Fifth Business, by Robertson Davies
17. What Terrorists Want, by Louise Richardson
18. In the Heart of the Sea, by Nathaniel Philbrick
19. Never Let Me Go, by Kazuo Ishiguro
20. The Snarkout Boys and the Avocado of Death, by Daniel Pinkwater
21. Possibilities, by David Graeber
22. The Veiled One, by Ruth Rendell
23. Faithful Place, by Tana French
24. The Participation Reader, edited by Andrea Cornwall
25. The Secret Place, by Tana French
26. The Fifth Season, by NK Jemisin
27. The Obelisk Gate, by NK Jemisin
28. The Stone Sky, by NK Jemisin
29. Are Prisons Obsolete?, by Angela Davis
30. The Black Count, by Tom Reiss
31. Get Shorty, by Elmore Leonard
32. The Fire This Time, edited by Jesmyn Ward
33. 1Q84, by Haruki Murakami

I loved both of the trilogies in there. A few other gems as well. Pretty good hit rate so far this year, really.
Title: Re: Book Journal
Post by: AGC on September 08, 2020, 08:04:54 pm
Solid list! I'm slightly embarrassed to post mine. I advise pre-dads to get their reading in now because time to read books simply vanishes. I have switched to short story compilations just to feel like I'm reading more than one or two books every three months  :wowthatwasnutswtf:

1. Major American Short Stories (https://www.goodreads.com/book/show/868252.Major_American_Short_Stories)
2. The Australian Short Story (https://www.goodreads.com/en/book/show/3131219-the-australian-short-story) (ignore the review score on this one, small sample size)
Title: Re: Book Journal
Post by: Mikey on December 11, 2020, 09:11:04 pm
(https://www.booktopia.com.au/http_coversbooktopiacomau/600/9781786070036/0000/breaking-sudan-the-search-for-peace.jpg)

This was a great read. It gave an insight into the historical background of Sudan and why South Sudan was created.

(https://d1w7fb2mkkr3kw.cloudfront.net/assets/images/book/lrg/9780/9842/9780984295197.jpg)

Female perspective of the Liberian civil war.

(https://d1w7fb2mkkr3kw.cloudfront.net/assets/images/book/lrg/9780/5527/9780552777803.jpg)

A book about Somalia

(https://i.ebayimg.com/images/g/L~MAAOSwA8tfD6nr/s-l640.jpg)

A book about living below your means and property investment.
Title: Re: Book Journal
Post by: gukl on December 12, 2020, 11:37:11 am
Happy National Read A Book Day, everybody! These are the books I've read so far this year, including two in progress:

1. The Mother Tongue, by Bill Bryson
2. The Mushroom at the End of the World, by Anna Tsing
3. The Anarchy, by William Dalrymple
4. Station Eleven, by Emily St. John Mandel
5. Invisible Cities, by Italo Calvino
6. The Three-Body Problem, by Cixin Liu
7. The Dark Forest, by Cixin Liu
8. Death's End, by Cixin Liu
9. West With the Night, by Beryl Markham
10. Passing, by Nella Larsen
11. Parable of the Sower, by Octavia Butler
12. On Anarchism, by Noam Chomsky
13. The Mirror and the Light, by Hilary Mantel
14. The Underground Village, by Kang Kyeong-ae
15. Decolonizing Wealth, by Edgar Villanueva
16. Fifth Business, by Robertson Davies
17. What Terrorists Want, by Louise Richardson
18. In the Heart of the Sea, by Nathaniel Philbrick
19. Never Let Me Go, by Kazuo Ishiguro
20. The Snarkout Boys and the Avocado of Death, by Daniel Pinkwater
21. Possibilities, by David Graeber
22. The Veiled One, by Ruth Rendell
23. Faithful Place, by Tana French
24. The Participation Reader, edited by Andrea Cornwall
25. The Secret Place, by Tana French
26. The Fifth Season, by NK Jemisin
27. The Obelisk Gate, by NK Jemisin
28. The Stone Sky, by NK Jemisin
29. Are Prisons Obsolete?, by Angela Davis
30. The Black Count, by Tom Reiss
31. Get Shorty, by Elmore Leonard
32. The Fire This Time, edited by Jesmyn Ward
33. 1Q84, by Haruki Murakami

I loved both of the trilogies in there. A few other gems as well. Pretty good hit rate so far this year, really.

Really enjoyed never let me go (and basically anything by ishiguro).

1Q84 is one of my favourites too, pretty much went through murukamis back catalogue in a year after reading that.

If you haven't already read it murukami has whats basically an autobiography called 'What I talk about when I talk about running' which is a interesting short little read. He's big time into his endurance running.

Have a copy of The Three Body Problem by Cixin Liu which I'll be starting soon too!

About to start Naked Lunch by William S Burroughs.

Currently slowly working my way through The Mind Illuminated by John Yates - basically an encyclopedia on meditation, by far the best all around resource I've come across and highly reccomend to anybody who wants to get into meditation.

Title: Re: Book Journal
Post by: gukl on December 03, 2022, 05:22:03 pm
Had time to enjoy some books recently

Fiction - really enjoyed Ruth Ozeki - The Book on form and emptiness, currently reading her 'Tale for the time being'. Alsor read a few of the coffee shop series by Toshikazu Kawaguchi which were nice albeit short reads. Have also just got a copy of the deaths end (final book kn cixin Liu trilogy)

Non fiction - anything by gabor mate, currently reading myth of normal. Also reading seeing that frees by Rob Burbea - pretty niche but trying to bring more insight into my meditation practice and this books seems one of the best for it it.
Title: Re: Book Journal
Post by: LBSS on January 12, 2023, 09:43:18 am
hurray books! a few i've read recently and enjoyed:

1. football in sun and shadow, by eduardo galeano
2. the story of my teeth, by valeria luiselli
3. beyond a boundary, by c.l.r. james
4. my name is red, by orhan pamuk (second time, it's so great)
5. having and being had, by eula biss
6. gangsters of capitalism, by jonathan katz
7. red harvest, by dashiell hammett
8. dune, by frank herbert
9. free: a child and a country at the end of history, by lea ypi
10. saturday night, by susan orlean
Title: Re: Book Journal
Post by: gukl on January 13, 2023, 02:12:00 am
hurray books! a few i've read recently and enjoyed:

1. football in sun and shadow, by eduardo galeano
2. the story of my teeth, by valeria luiselli
3. beyond a boundary, by c.l.r. james
4. my name is red, by orhan pamuk (second time, it's so great)
5. having and being had, by eula biss
6. gangsters of capitalism, by jonathan katz
7. red harvest, by dashiell hammett
8. dune, by frank herbert
9. free: a child and a country at the end of history, by lea ypi
10. saturday night, by susan orlean

Dune <3

Will check some of the others out. Currently reading deaths end by cixin Liu which I think you have read.



Title: Re: Book Journal
Post by: LBSS on January 13, 2023, 09:04:39 am
i couldn't believe how good dune was. i'd tried and failed to start reading it several times and in retrospect have no idea why it didn't take. it rules.

remembrance of earth's past trilogy i enjoyed, although it's pretty sexist. but yeah holy shit cixin liu's imagination is on fire. extremely cool weapons and other tech in the later books.

if you're into spec fic, another brilliant one i read relatively recently is a canticle for liebowitz.
Title: Re: Book Journal
Post by: gukl on January 18, 2023, 10:30:18 pm
i couldn't believe how good dune was. i'd tried and failed to start reading it several times and in retrospect have no idea why it didn't take. it rules.

remembrance of earth's past trilogy i enjoyed, although it's pretty sexist. but yeah holy shit cixin liu's imagination is on fire. extremely cool weapons and other tech in the later books.

if you're into spec fic, another brilliant one i read relatively recently is a canticle for liebowitz.

Agreed, dune is awesome. Found the new film surprisingly good if you haven't seen it, excited for the second.

Yeah I gather earths past trilogy has been called out quite a bit for its sexism.

Cool I'll check the recommendation out!