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Middle class revolt
- Thread starter dddooo
- Start date
Quote from SteveD:
Middle class is doing just fine, thank you.
Median household income, adjusted for inflation, has fallen for five straight years, according to an Economic Policy Institute analysis of government data.
80 percent of the workforce represented by nonsupervisory workers has recently seen little, if any, income growth at all. The top 20 percent of supervisory, salaried, and other workers has."
Alan Greenspan 06/14/2005
Since Bush took office, the middle-income group has declined by 1.2 percentage points , and now constitutes less than 45% of all households.
At the same time, households with less than $25,000 in income have grown by 1.5 percentage points, and now make up 29% of all households. So a large number of households have slipped out of the middle group and into the lower-income range over the past three years.
http://www.factcheck.org/article249.html
Steve, you should let Alan Greenspan and Economic Policy Institute know that american middle class is doing just fine as they seem to have an opposite opinion. Sorry but it's not enough to declare that middle class is doing great when objective research and statistics show quite convincingly that it is not, it's worse off than it was 5 years ago.
Ah, statistics and objective research.
That is like the guys that trade on technical analysis only. They can never understand why they don't make money.
There is an enormous!!! amount of money changing hands in an "underground" economy. Not illegal, just unconventional, unregulated endeavors.
Even Greenspan has alluded to this. Also, remember it was Greenspan who planned for automatic inflation if the unemployment rate fell below 6%. That theory is not discussed anymore.
Maybe it would be better to state that the "white middle class" is doing just fine.
I would assume that the large amount of recent immigration would pull that number down as these people are below poverty when they come here.
There are jobs that are subject to being "outsourced" and engineering is one of them, I would imagine.
But, there are thousands of jobs that have to have a human hand at the switch on site. Cannot be moved.
Sorry, but as much as you think it works in a computer model in real life it just does not happen.
SteveD
That is like the guys that trade on technical analysis only. They can never understand why they don't make money.
There is an enormous!!! amount of money changing hands in an "underground" economy. Not illegal, just unconventional, unregulated endeavors.
Even Greenspan has alluded to this. Also, remember it was Greenspan who planned for automatic inflation if the unemployment rate fell below 6%. That theory is not discussed anymore.
Maybe it would be better to state that the "white middle class" is doing just fine.
I would assume that the large amount of recent immigration would pull that number down as these people are below poverty when they come here.
There are jobs that are subject to being "outsourced" and engineering is one of them, I would imagine.
But, there are thousands of jobs that have to have a human hand at the switch on site. Cannot be moved.
Sorry, but as much as you think it works in a computer model in real life it just does not happen.
SteveD
Quote from SteveD:
....
Sorry, but as much as you think it works in a computer model in real life it just does not happen.
SteveD
Hope you have your automation solution awaiting for your job ....... As you say, its not a problem to "switch" to another stream once your position is automated out of existence. I'm sure you will cope. Maybe your automation system can keep up with ours .. maybe. The US is the greatest country on earth and, its just survival of the best.
Quote from Vinny1:
Like where? Most places with high paying jobs,like NYC,LA,and San Francisco,are not low cost of living.Most of the kids coming out of college can't afford to buy homes in these areas.
True...the only ones able to afford a house in LA are those couples both lucky enough to have good paying professional jobs. Single professionals even with a good paying job are going to have a very difficult time or no ability to afford a house here.
Quote from The Kin:
Basically live on a 30k a year salary despite making 70k. A few years down the road and you'll be suprised how easy wealth can be accumulated.
That's the key, and as long as things keep going the way they are for you, its fine and absolutely the best thing in the world. I applaud your self-restraint. I actually subscribe to the same school of thought.
HOWEVER, if your cost of living increases to 40K through inflation and your earnings decrease to 50K, I think you might be more on our side.
First of all, I am in commercial real estate and no one is going to "outsource" that type of business.
You would be surprised how many people have been buying 1 or 2 rental properties a year for the last 25 years!!!
You guys act like real estate just popped up as an investment. It is very old fashion hands on business. Get to know the market, buy a little house "right", little fix up and rent it out for long term appreciation, tax benefits and some cash flow. I am not talking about "flipping" condos in unbuilt developments in Florida, LOL.
I don't know what to say about someone who sits and waits for his job to be outsourced??? One has to take responsibility for his own future and well being.
This goes back to the discipline problem. One buys the stock at $50. It is SUPPOSED to go to $75 but it starts going down and one sits there and observes the decline till it goes out of business like Enron. Sorry guys. No sympathy here.
Pick up a franchise book sometime and read all the NON-FOOD businesses that are out there. If you want to live in Santa Monica with an $8000/mo nut, that is your choice. But there is more out there.
Hate to see you guys miss out on so much fun
SteveD
You would be surprised how many people have been buying 1 or 2 rental properties a year for the last 25 years!!!
You guys act like real estate just popped up as an investment. It is very old fashion hands on business. Get to know the market, buy a little house "right", little fix up and rent it out for long term appreciation, tax benefits and some cash flow. I am not talking about "flipping" condos in unbuilt developments in Florida, LOL.
I don't know what to say about someone who sits and waits for his job to be outsourced??? One has to take responsibility for his own future and well being.
This goes back to the discipline problem. One buys the stock at $50. It is SUPPOSED to go to $75 but it starts going down and one sits there and observes the decline till it goes out of business like Enron. Sorry guys. No sympathy here.
Pick up a franchise book sometime and read all the NON-FOOD businesses that are out there. If you want to live in Santa Monica with an $8000/mo nut, that is your choice. But there is more out there.
Hate to see you guys miss out on so much fun
SteveD
Many with good job security and low barrier to entry:
1. Delta Senior Pilot- $250,000/ year. You may have to spend a few years learning to fly in Florida
2. Valet at Casino- $200 plus in tips a shift plus minimum wage. Qualifications: not drooling in public and knowing how to drive a stick.
3. Skycap at Airport- $300 plus per shift plus a dinky hourly wage or upwards of $100k per year. Most skycaps don't report all of their wages. Qualifications- a crappy attitude
4. Wedding Photographer- $1900 per gig is national average but many earn more. Qualifications- expensive equipment and a short term technical training course. A goatee and fleece vest help to instill trust with the mark.
5. West Coast Longshoremen- $112k/yr for the dumb labor. $136k/yr for the monkeys with the keyboards. $177k for dumb labor foremen/women. Qualifications: A friend on the inside and repeated viewings of On The Waterfront
6. Sommelier- $80k at a swank place plus bad stock tips. Qualifications: a good nose and a snotty attitude.
7. McDonalds Area Manager- My mom was friends with the area manager for the San Fran region. In the late 80's she made almost $100k/yr in base salary and started off on fries. Qualifications: good work ethic and competence.
8. High End Real Estate Agent or Mortgage Broker: $100k plus, depends on the market and how long the bubble lasts. Qualifications: many ex exotic dancers become real estate agents. The mortgage brokerage industry has an even lower barrier to entry.
9. Medical Recruiter/ High Tech Recruiter: $100k plus after a few years. Qualifications: community college degree, phone jockey skills, slick suit
10. Motivational Speakers and Commodities Seminars: six figures plus. Qualifications: confidence
11. Home Improvement Contractor in major city: $100k plus. Qualifications: a few years apprenticeship. Union laborers also tend to make good livings. The IBEW cannot find enough people to pay $30 an hour. Their main qualifications are passing a basic 8th grade Algebra exam and passing a drug screen.
1. Delta Senior Pilot- $250,000/ year. You may have to spend a few years learning to fly in Florida
2. Valet at Casino- $200 plus in tips a shift plus minimum wage. Qualifications: not drooling in public and knowing how to drive a stick.
3. Skycap at Airport- $300 plus per shift plus a dinky hourly wage or upwards of $100k per year. Most skycaps don't report all of their wages. Qualifications- a crappy attitude
4. Wedding Photographer- $1900 per gig is national average but many earn more. Qualifications- expensive equipment and a short term technical training course. A goatee and fleece vest help to instill trust with the mark.
5. West Coast Longshoremen- $112k/yr for the dumb labor. $136k/yr for the monkeys with the keyboards. $177k for dumb labor foremen/women. Qualifications: A friend on the inside and repeated viewings of On The Waterfront
6. Sommelier- $80k at a swank place plus bad stock tips. Qualifications: a good nose and a snotty attitude.
7. McDonalds Area Manager- My mom was friends with the area manager for the San Fran region. In the late 80's she made almost $100k/yr in base salary and started off on fries. Qualifications: good work ethic and competence.
8. High End Real Estate Agent or Mortgage Broker: $100k plus, depends on the market and how long the bubble lasts. Qualifications: many ex exotic dancers become real estate agents. The mortgage brokerage industry has an even lower barrier to entry.
9. Medical Recruiter/ High Tech Recruiter: $100k plus after a few years. Qualifications: community college degree, phone jockey skills, slick suit
10. Motivational Speakers and Commodities Seminars: six figures plus. Qualifications: confidence
11. Home Improvement Contractor in major city: $100k plus. Qualifications: a few years apprenticeship. Union laborers also tend to make good livings. The IBEW cannot find enough people to pay $30 an hour. Their main qualifications are passing a basic 8th grade Algebra exam and passing a drug screen.
Quote from ER9:
True...the only ones able to afford a house in LA are those couples both lucky enough to have good paying professional jobs. Single professionals even with a good paying job are going to have a very difficult time or no ability to afford a house here.
Takes about 300K household income on the coast in So. Ca. to get a small place now ..... If you need a decent size place because you have a family you are looking at well over 1 million dollars at current prices.