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Old 05-20-2018, 08:03 AM
 
10,271 posts, read 6,506,221 times
Reputation: 10847

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Quote:
Originally Posted by Rocko20 View Post
Mistakenly thinking that home ownership is generally for low income folks.

A burger flipper should aim a little higher before he think hes entitled to a home.
It's not about entitlement it's about being able to afford it. If a burger flipper makes enough to buy a home in a low cost area where you can buy a home for $40K and their mortgage will be $350 a month on a $1300 a month salary who are you to say it's an entitlement.
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Old 05-20-2018, 08:48 AM
 
3,545 posts, read 1,995,111 times
Reputation: 6133
It is happening again and in a big way! The leverage ratio in America is startling. Add up national state local and municipal debt with consumer credit, home, auto, student, and medical debts and we are far too extended as a society. If anything happens to our debt market ever single industry funded by debt vehicles will crash. Its like a drug habit and we may as well be addicted to injecting ourselves with heroin as debt is our drug.

None of this recovery is real its all supported by cheap and readily available credit. Good luck finding a chair when the music stops folks!
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Old 05-21-2018, 10:07 AM
 
Location: Lower East Side, NYC
1,837 posts, read 1,091,165 times
Reputation: 1290
Quote:
Originally Posted by LifeIsGood01 View Post
Rich people pay their housekeepers money to go buy their bananas. they don't know what a banana costs becuase they haven't been in a supermarket in years, they prolly think bananas cost $2 each.
As someone supposedly in the top 10%, I get my bananas for free from my work. If I actually bought them, I'd go to one of the 20 grocery stores around me, probably from a higher tier one with good prices and quality like Fairway. This whole banana thing seems relatively nonsensical
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Old 05-21-2018, 11:29 AM
 
10,271 posts, read 6,506,221 times
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Quote:
Originally Posted by Javawood View Post
As someone supposedly in the top 10%, I get my bananas for free from my work. If I actually bought them, I'd go to one of the 20 grocery stores around me, probably from a higher tier one with good prices and quality like Fairway. This whole banana thing seems relatively nonsensical
Do you work in a zoo in the gorilla enclosure?
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Old 05-22-2018, 10:23 AM
 
Location: The analog world
15,629 posts, read 8,758,135 times
Reputation: 20945
Quote:
Originally Posted by LifeIsGood01 View Post
Rich people pay their housekeepers money to go buy their bananas. they don't know what a banana costs becuase they haven't been in a supermarket in years, they prolly think bananas cost $2 each.
Nineteen cents a pound at Trader Joe's, but I've also bought them for a dollar a piece at my local coffee shop on occasion. Am I rich? No. More like comfortably affluent.
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Old 05-22-2018, 11:09 AM
 
Location: Lower East Side, NYC
1,837 posts, read 1,091,165 times
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Quote:
Originally Posted by LifeIsGood01 View Post
Do you work in a zoo in the gorilla enclosure?
Just a normal FinTech office in Manhattan haha.
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Old 05-22-2018, 11:10 AM
 
10,271 posts, read 6,506,221 times
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Quote:
Originally Posted by Javawood View Post
Just a normal FinTech office in Manhattan haha.
Same thing. The difference is your jungle is concrete.
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Old 05-22-2018, 01:37 PM
 
Location: Paranoid State
12,685 posts, read 9,438,208 times
Reputation: 14942
Quote:
Originally Posted by pittsflyer View Post
Yep, instead of just mandating a significantly higher minimum wage and ending at-will employment.
Both of those are horrible ideas.

* A significantly higher statutory minimum wage means significantly higher unemployment among low-skill workers.

* At-will employment is good: both the employer and the employee can terminate the arrangement for any legal reason. The alternative is indentured servitude where the employee cannot quit.
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Old 05-22-2018, 01:41 PM
 
Location: Paranoid State
12,685 posts, read 9,438,208 times
Reputation: 14942
Quote:
Originally Posted by pittsflyer View Post
Yep, thats because most of america is "poor" when compared to the top 10%. So if lending of all kinds were highly tightened and poor people just had to be poor (no loans, no credit cards, etc) then the upper eschelon would be totally screwed, what are the millionares going to do all just loan money to each other that they dont need or sell each other stuff they dont need?

The rich need the poor to be in debt because if all the poor lived within their means you would see the income gap come to a screeching halt.
The above post shows a fundamental lack of economics understanding and lack of analytical skills. I realize you never studied econ, but there are some free online classes you should consider taking because you show interest in the subject.

See for example https://www.khanacademy.org/
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Old 05-22-2018, 01:49 PM
 
Location: Paranoid State
12,685 posts, read 9,438,208 times
Reputation: 14942
Quote:
Originally Posted by randomparent View Post
Nineteen cents a pound at Trader Joe's, but I've also bought them for a dollar a piece at my local coffee shop on occasion. Am I rich? No. More like comfortably affluent.
I think Trader Joe's charges 19 cent each, not 19 cents per pound.

see https://www.statista.com/statistics/...united-states/

Most grocery stores now treat bananas as "loss leaders" in the same way they treat frozen turkeys as "loss leaders" at Thanksgiving time.

At any rate, the Cavendish Banana species that we find in grocery stores today will be extinct in the next 10-20 years. Like almost all bananas, Cavendish lacks genetic diversity, which makes it vulnerable to diseases, including virulent soil fungus called Panama Disease, a variant called Tropical Race 4, black sigatoka fungus, and others. The Cavendish Banana already has been wiped out of many south east asian countries.

The predecessor to the Cavendish banana, called the Gros Michel varietal, went extinct many decades ago. The possible replacements for the Cavendish Banana are so different from that most consumers would not consider them a banana.
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