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01-20-2014, 01:18 PM
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Senior Member
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Join Date: Oct 2011
Location: San Diego via Vermilion Ohio and Points Between
Posts: 11,538
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The New Normal
The lead off story in the LA times:
pretty good summation of the structural changes to America after 2008:
http://www.latimes.com/nation/la-na-...#axzz2qy3s5H4d
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Never was there a time when I did not exist, nor you, nor in the future shall any of us cease to be.
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01-20-2014, 01:46 PM
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reflexionar
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Join Date: May 2009
Location: Central Oregon
Posts: 2,273
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I pretty much tend to agree with that summation. The rich are still getting richer. My home is now worth what I paid for it, but should be at about 25% more than I paid for it. I have had a couple raises since the recession started, but they didn't even cover the COL adjustment, so I am still essentially making less than I was in '08. The only thin that has been really positive is that my 401k has gone up higher than it was before.
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“Anyone who is capable of getting themselves made President should on no account be allowed to do the job.” Douglas Adams
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01-20-2014, 06:07 PM
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Senior Member
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Join Date: Oct 2011
Location: San Diego via Vermilion Ohio and Points Between
Posts: 11,538
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I make more money than I did in the 90s but feel poorer.
Plus I really do not buy new stuff...it is all second hand. Except for gas, food, and new cd music releases everything I buy is used, except things for my daughter like phones,laptop, etc.
I see tons of people at thrifts and dollar stores, and of course walmart.
I think the danger is that Wallstreet stock prices are becoming a false indicator of how healthy our economy is.
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Never was there a time when I did not exist, nor you, nor in the future shall any of us cease to be.
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01-20-2014, 08:44 PM
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Admin
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Join Date: Dec 2011
Location: Behind the Orange Curtain in California
Posts: 37,223
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Quote:
Originally Posted by icenine
I make more money than I did in the 90s but feel poorer.
Plus I really do not buy new stuff...it is all second hand. Except for gas, food, and new cd music releases everything I buy is used, except things for my daughter like phones,laptop, etc.
I see tons of people at thrifts and dollar stores, and of course walmart.
I think the danger is that Wallstreet stock prices are becoming a false indicator of how healthy our economy is.
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Same here...
...except that I don't personally know about the WalMart thing. Not one thin & worn out dime will I add to their coffers as long as they are subsidized by the taxpayers. Phuck 'em.
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I don't know half of you half as well as I should like, and I like less than half of you half as well as you deserve.
- Mr. Underhill
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01-21-2014, 06:36 AM
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Resident octogenarian
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Join Date: May 2009
Location: Maryland
Posts: 20,860
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Quote:
Originally Posted by icenine
I make more money than I did in the 90s but feel poorer.
Plus I really do not buy new stuff...it is all second hand. Except for gas, food, and new cd music releases everything I buy is used, except things for my daughter like phones,laptop, etc.
I see tons of people at thrifts and dollar stores, and of course walmart.
I think the danger is that Wallstreet stock prices are becoming a false indicator of how healthy our economy is.
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Wall Street has not been an indicator of the health of the economy ever since they turned it into a casino.
As Sandy G said the day we stopped using money to make things and started using money to make money was the day it hit the fan.
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Great minds discuss ideas; Average minds discuss events; Small minds discuss people.
Eleanor Roosevelt
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01-21-2014, 07:48 AM
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Banned
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Join Date: Nov 2013
Posts: 8,310
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What turned Wall St. into a casino is the same medium that we use to complain about it. Computers and the internet.
Electronic trading and computer driven program electronic trading has made equities a trader's market rather than the investor's market that it was designed to be.
When I'm king, if you want to buy or sell stock, somebody down on the trading floor will have to scribble it down on a piece of paper and walk it over to the other side of the floor to complete a stock transaction.
That said...we, and millions of retirees like us use the money we have to make more money. That, in and of itself, does not make us bad people.
Last edited by Ike Bana; 01-21-2014 at 09:08 AM.
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01-21-2014, 09:10 AM
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Area Man
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Join Date: Oct 2009
Location: The Swamp
Posts: 27,407
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I knew something was up when I turned on my T.V. and some idiot talking heads on one of those morning talk shows said;
"So....America is becoming a renter nation? Great! Well, we have some tips on how to shop for rental homes this morning..........................."
"Great"? How is it "Great" that America is turning into a "renter nation".
I swear, if you want to know what an Idiocracy this country it becoming just turn on the television. Good Lord........
Dave
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"When the lie is so big and the fog so thick, the Republican trick can play out again....."-------Frank Zappa
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01-21-2014, 09:17 AM
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Area Man
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Join Date: Oct 2009
Location: The Swamp
Posts: 27,407
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Quote:
Originally Posted by merrylander
Wall Street has not been an indicator of the health of the economy ever since they turned it into a casino.
As Sandy G said the day we stopped using money to make things and started using money to make money was the day it hit the fan.
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Quote:
Originally Posted by Ike Bana
That said...we, and millions of retirees like us use the money we have to make more money. That, in and of itself, does not make us bad people.
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Unfortunately, there is truth in both of these statements. And, Ike, it's not just those who are retired. Anyone who will retire some day, (And they will whether they like it or not.), had better be saving to prepare for retirement or they will end up homeless or living with their kids.
And, trust me, very few of them a saving adequately.
Even bigger trouble ahead.
Dave
__________________
"When the lie is so big and the fog so thick, the Republican trick can play out again....."-------Frank Zappa
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01-21-2014, 09:28 AM
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Banned
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Join Date: Nov 2013
Posts: 8,310
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Quote:
Originally Posted by BlueStreak
Unfortunately, there is truth in both of these statements. And, Ike, it's not just those who are retired. Anyone who will retire some day, (And they will whether they like it or not.), had better be saving to prepare for retirement or they will end up homeless or living with their kids.
And, trust me, very few of them a saving adequately.
Even bigger trouble ahead.
Dave
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I'm gonna say that one of the reasons we're probably pretty financially secure is that we never stopped shopping at the thrift shops. Started when we were first married and just stuck with it. Clothing is about the only stuff we buy new...and not all of that either. I havent bought a new piece of audio gear in 40 years...its all (the entire big pile of it) from thrift shops or eBay.
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01-21-2014, 09:40 AM
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Senior Member
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Join Date: Oct 2011
Location: San Diego via Vermilion Ohio and Points Between
Posts: 11,538
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Wall Street was booming in the late 20s....but
the rest of America, especially agriculture,
was already in the depression. It caught on to Wall Street in 1929.
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