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Old Yesterday, 01:35 PM
 
3,941 posts, read 2,182,934 times
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It's going to get hard in the upcoming future but the good news is prices should adjust and make for buying opportunities for home ownership for those able to weather the storm.
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Old Yesterday, 09:10 PM
 
Location: NE Mississippi
12,027 posts, read 7,733,107 times
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Quote:
Originally Posted by Good_Teacher View Post
I look at the year 2000 as the end of the good times for the average American. Since then we have had a jobless recovery that has really only helped an elite. The standard of living for the typical American worker has gone down hill. College costs are sky high, utility and energy bills are going even higher, gasoline is moving towards $4.00 a gallon, borrowing costs are high and the availability of credit is falling. While our federal income taxes have fallen somewhat, we are being hit by so many hidden taxes and rapidly rising local and state taxes and surcharges. All these costs make our standard of living continue to drop. How can America ever recover from this?
Original post was from 4/11/08.
That was a bad time in American history and I know things got a lot worse after the OP posted it.
But things are better now. Real estate recovered, wages are rising, gasoline is back down. The labor participation rate is back up.
We'll be OK.
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Old Today, 01:16 PM
 
1,155 posts, read 606,332 times
Reputation: 319
Quote:
Originally Posted by Good_Teacher View Post
I look at the year 2000 as the end of the good times for the average American. Since then we have had a jobless recovery that has really only helped an elite. The standard of living for the typical American worker has gone down hill. College costs are sky high, utility and energy bills are going even higher, gasoline is moving towards $4.00 a gallon, borrowing costs are high and the availability of credit is falling. While our federal income taxes have fallen somewhat, we are being hit by so many hidden taxes and rapidly rising local and state taxes and surcharges. All these costs make our standard of living continue to drop. How can America ever recover from this?
Good_Teacher, I'm a proponent of the minimum wage rate being increaased 12% per year until it accquires no less that 125% of February 1968's purchasing power. It should thereafter be annually monitored and pegged as Social Security retirement benefits are now pegged, to the Consumer Price Index.

I'm also a proponent of the trade proposal explained in Wikipedia’s “Import Certificates” article. Trade deficits are always net detrimental to their nation's GDP and drag upon their numbers of jobs.
Quote:
Originally Posted by Supposn View Post
Regarding international trade, refer to Wikipedia’s “Import Certificates” article
or to
USA goods could be more price competitive

Regarding commerce between jurisdictions within the United States:
Opponents of the federal minimum rate laws, (i.e. Fair Labor Standards Act) argue due to the differences between states’ economies, the federal minimum wage rate is a hardship upon states where lesser prices prevail.
Proponents of the laws argue due to those differences, an insufficient federal minimum wage rate is a hardship upon states where all but the lowest prices prevail and economies of the entire United States suffer due to the extent that our federal minimum wage rate is greatly insufficient.

Regarding States’ enacted higher minimum rates within their own jurisdictions, the effectiveness and sustainability of their states’ rates are significantly dependent upon the purchasing power of the Federal Minimum Wage rate and how effectively it’s enforced.

Throughout the history of all nations’ economies, (when there’s been no scarcity of labor), wage rates have been subject to the “race to the bottom”.
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