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Old Yesterday, 01:50 PM
 
13,508 posts, read 13,209,289 times
Reputation: 39002

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Quote:
Originally Posted by RationalExpectations View Post
You assume closing the gap is a good thing. I don't see it that way. The existence of extraordinary rewards in return for extraordinary accomplishment is a great thing.



I am not so pessimistic as you are, but I agree we need to make fundamental changes in this country to address some of the things you mention plus many others, including the way we fund medical care, higher education, retirement, housing, transportation and the like.

The most important thing we can do, it seems to me, is vote out the incumbents. Regardless if your personal view is left, right or centrist, we need to get rid of entrenched politicians and bureaucrats at all levels. Vote the bums out.
We probably don't have the same definition of extraordinary.
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Old Yesterday, 01:55 PM
 
Location: Oregon, formerly Texas
5,295 posts, read 3,627,983 times
Reputation: 8955
Because the rise in my income is swallowed by the rise in our costs.
  • Every raise I get seems to be eaten by a commensurate rise in my health insurance premium.
  • Child care and education costs keep going up... so much that it's almost cheaper for a spouse to not work given how much childcare costs. And God help anyone paying college tuition.
  • Things like insurance costs keep going up, ie: my auto insurance keeps rising for no explicable reason.
  • Housing costs keep going up. My home value increased by about 10% last year, so if I wanted a new home, it would be 10% more expensive.

As for jobs, yes there are a lot of jobs right now, and in both my and my wife's workplace, finding qualified workers is a challenge. But the jobs available are mostly SSDD. There are a crap-ton of crappy jobs. I could get 1 out of 50 jobs that are equivalent or worse than the one I've got, but if I try to move up, the competition is fierce.
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Old Yesterday, 02:01 PM
 
25,593 posts, read 27,948,476 times
Reputation: 24047
My biggest reason for thinking the economy isn't that great is that we're running up more government debt in supposedly good times.

However, others have pointed out high healthcare, housing, and college tuition costs as major culprits, as well as a lack of good paying jobs for those who don't have college degrees. I agree with them on those points, although I suspect I disagree with most CD posters on solutions.
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Old Yesterday, 02:03 PM
 
1,852 posts, read 490,718 times
Reputation: 2552
Forget about all the anecdotes. The economy is NOT good because we have the statistics to know this:

- Yield curve is beginning to invert
- GDP growth has softened the past 8 quarters (nothing to do with the Trade war, the factors underlying GDP growth are just plain BAD - Only Tech and Pharma is UP.)
- FAANG stocks are being shorted
- Hiring has slowed compared to the past 5-6 years in the last few quarters
- Wage pressure is non existent
- U-6 is luke warm and on top of it doesn't even accurately capture those who left the workforce 10 years ago anymore. Every state's UE should be following up with those who no longer qualify EVERY YEAR for ACCURACY. But there is no incentive for them to do that because it's bad advertising for the State
- The FED doesn't know their head from their a** and questions due to the above points whether we should continue to raise rates despite NO signs of wage inflation but rather we are looking at a CONTRACTIONARY period potentially incoming. Artificially raising to a minimum wage of $15 and subsequently having a contraction of the retail and restaurant industries does NOT mean interest rates should rise

John McCain, George Bush Jr. and others infamously have said "The Fundamentals of our Economy are Strong". Please let me enlighten you all that the fundamentals of our economy have NOT been particularly "STRONG" since the Clinton era... I just covered all the key fundamentals above. (Not saying he is responsible for the growth)



The "Fundamentals of our economy" are largely due to geopolitical circumstances which have now shifted out of our favor as of late and have been further bumbled by the latest puppet POTUS.

No, China is not doing any better contrary to popular belief they in fact are doing very poorly and have a huge bubble about to burst, a demographic crisis and incoming social unrest once the bubble bursts. The very fabric of their society as well as ours is in imminent danger if the real core fundamentals are not addressed quickly in a sustainable way.
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Old Yesterday, 02:08 PM
 
1,852 posts, read 490,718 times
Reputation: 2552
Quote:
Originally Posted by redguard57 View Post
There are a crap-ton of crappy jobs. I could get 1 out of 50 jobs that are equivalent or worse than the one I've got, but if I try to move up, the competition is fierce.
BINGO

These guys saying there are a plethora of high paying jobs somehow think they are a) Not already slated for the hiring manager's fraternity brother and b) if available, assume that when it's a backfill that something wasn't wrong with the work environment that caused that person's departure.

It is RARE these days when a job is a backfill that it's simply because the person was made an offer they couldn't refuse (and that the existing company couldn't afford). Those days are over. It's because the guy was abused, slandered, extorted and burnt the f*** out and potentially left for a pay cut because he got put on a PIP.
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Old Yesterday, 02:20 PM
 
1,229 posts, read 259,805 times
Reputation: 2019
Quote:
Originally Posted by AliefNorth View Post
Because the economy IS bad...
Very true except for, well, every word you wrote.

The economy is in great shape. Among the leading economic indicators, it is all green lights. Among the coincident economic indicators, it is all green lights. Among the trailing economic indicators, it is almost all green lights.
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Old Yesterday, 02:29 PM
 
1,229 posts, read 259,805 times
Reputation: 2019
Reading some of these posts, it's pretty clear some people lack the ability to internalize problems. They think problems exist outside their corpus rather than between their own ears. The following are apropos. (Moderators: I own the copyright to the following image).

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Old Yesterday, 02:33 PM
 
10,326 posts, read 15,051,818 times
Reputation: 11544
Well, let's look at it this way.


USA is moved form the world policeman/do as I please, position. Hence, now it has to rely on its own, not on pumping wealth from places else.

Dollar is no more one and only international currency. Breton Woods is done and over and gold is back. Dollar is moved to the third position, replacing gold. .
There is outright political civil war in the country, between old liberal clans and the new power, represented by Trump.
Current government has to revamp entire country to return its industrial potential and power to where it was before..


Those are not easy times indeed....
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Old Yesterday, 02:42 PM
 
2,527 posts, read 1,621,179 times
Reputation: 5455
Quote:
Originally Posted by Tencent View Post
BINGO

These guys saying there are a plethora of high paying jobs somehow think they are a) Not already slated for the hiring manager's fraternity brother and b) if available, assume that when it's a backfill that something wasn't wrong with the work environment that caused that person's departure.

It is RARE these days when a job is a backfill that it's simply because the person was made an offer they couldn't refuse (and that the existing company couldn't afford). Those days are over. It's because the guy was abused, slandered, extorted and burnt the f*** out and potentially left for a pay cut because he got put on a PIP.
This post was so bitter it actually made me lol at my desk.
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Old Yesterday, 02:42 PM
 
7,511 posts, read 4,819,041 times
Reputation: 12952
Quote:
Originally Posted by mysticaltyger View Post
My biggest reason for thinking the economy isn't that great is that we're running up more government debt in supposedly good times.

However, others have pointed out high healthcare, housing, and college tuition costs as major culprits, as well as a lack of good paying jobs for those who don't have college degrees. I agree with them on those points, although I suspect I disagree with most CD posters on solutions.
Increasing debt is a structural problem that takes generations to accumulate, and probably generations to fully manifest itself. Like many of our core problems today, it remains insidious and not all that relevant to today's workers, investors or retirees.

There's an even deeper issue here: America's unique advantages, its primacy in the world, allows it to hide or delay the implications of runaway debt. Forever? No, of course not. But as I've been grousing in the Investment forum, for some reason America continues to enjoy unparalleled advantage as global engine of profit, as global center for investment. While this holds, the US dollar will hold, and while that holds, the mounting debt will continue as looming burden... looming, yes, but not quite yet an actual catastrophe.

As for your brief statement about solutions, I'm curious, and invite you to please lay out a summary. Indeed, it would be good for all of us regular-contributors to maybe take the time to write out our personal "manifesto".
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