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Old 01-17-2011, 09:51 PM
 
Location: Murphy, TX
635 posts, read 2,498,908 times
Reputation: 421

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I have been looking at US economy, mainly looking at jobs and benefits. I don't think there will be much improvement in this respect. A lot of good full time jobs in US seems to vanishing and won't be coming back.

For example, I have seen my company cut benefits such as pension, 401K matches, health care % contribution, etc. That is even after they have laid of 1000s of workers. Is about the same across many other corporations.

This article from USA Today shed light that new jobs are all temp jobs. They have no real benefits and hardly much guarantee it will last.

Of course, I really doubt the government will do anything to help the situation. US Gov supposedly have been trying fix these issues for decades since the dot com bust, but the problem still lingers. And I don't see Corporate America really helping out in this area either. Only thing I see is corporations doing is off shoring more jobs to third world countries. I have no faith in US Gov to stop them either. I am pretty much disillusioned with jobs situation and any real chance of improvement.
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Old 01-17-2011, 10:28 PM
 
3,700 posts, read 3,028,739 times
Reputation: 10007
It's been a relatively short ride for US labor, the fifties were a time of unprecedented gains for the unionized workforce but most of the big things that helped labor happened in the thirties and forties. Today we can see the capital class coming down hard on the labor gains made in the past. I don't expect anything to change until American workers turn off the tube and take the initiative to corral the wall Street crowd from their thieving corruption of our government. Of course they won't until it's too late and then the leveling of the worlds markets and labor will have been a done deal.
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Old 01-17-2011, 10:40 PM
 
Location: Ocean County, NJ
621 posts, read 1,882,071 times
Reputation: 194
Wall street already has the reigns and there's nothing the dissapearing middle class can do. If this country or government wanted to do this right and get things back on track, they would need to give their corporate lobbyist the finger and start heavily taxing US companies that outsource work overseas. The other problem is this, with wages going down the cost of living is still increasing or staying flat. No offense to anyone making minimum wage, but no one lives comfortably on minimum wage.

I know so many college graduates of the last few years that are working at Blockbuster Video, Walmart, Target etc. These weren't your typical make it by the skin of your teeth type graduates either.

Eventually we will get out of this. When is the 1 million dollar question and answer right now. Even with my limited economics background and with family deeply entrenched and employed by Wall Street, we aren't getting out of this anytime soon.

Over the last year I've watched as people that I know, lost their Jobs, houses, cars, possessions and even family because of this mess. These were people that told me, hey man my job is safe.

You watch TV and you see these multi million dollar earning athletes and movie stars and always say to yourself, I bet they can pay all their bills. I'm never going to forget this time period. I'm 31, I'm going to re-lable that rainy day fund expression to that recession caused by a financial bubble fund. If there's one thing history has taught us, it's that history always repeats itself.
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Old 01-18-2011, 06:34 AM
 
Location: Las Flores, Orange County, CA
26,346 posts, read 80,779,498 times
Reputation: 17411
Quote:
Originally Posted by unseengundam View Post
I have been looking at US economy, mainly looking at jobs and benefits. I don't think there will be much improvement in this respect. A lot of good full time jobs in US seems to vanishing and won't be coming back.

For example, I have seen my company cut benefits such as pension, 401K matches, health care % contribution, etc. That is even after they have laid of 1000s of workers. Is about the same across many other corporations.

This article from USA Today shed light that new jobs are all temp jobs. They have no real benefits and hardly much guarantee it will last.

Of course, I really doubt the government will do anything to help the situation. US Gov supposedly have been trying fix these issues for decades since the dot com bust, but the problem still lingers. And I don't see Corporate America really helping out in this area either. Only thing I see is corporations doing is off shoring more jobs to third world countries. I have no faith in US Gov to stop them either. I am pretty much disillusioned with jobs situation and any real chance of improvement.
There are hundreds of MBAs and PhDs who would disagree with you.


Imagine a big box, a mile by a mile by a mile on edge. There are no openings to this big box except a little hole about 1/4 in diameter. You are looking in the hole.

The big box is the world economy and your view of it is through that little hole.
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Old 01-18-2011, 06:40 AM
 
Location: Las Flores, Orange County, CA
26,346 posts, read 80,779,498 times
Reputation: 17411
Quote:
Originally Posted by Tuck91NYG View Post
Wall street already has the reigns and there's nothing the dissapearing middle class can do. If this country or government wanted to do this right and get things back on track, they would need to give their corporate lobbyist the finger and start heavily taxing US companies that outsource work overseas. The other problem is this, with wages going down the cost of living is still increasing or staying flat. No offense to anyone making minimum wage, but no one lives comfortably on minimum wage.

I know so many college graduates of the last few years that are working at Blockbuster Video, Walmart, Target etc. These weren't your typical make it by the skin of your teeth type graduates either.

Eventually we will get out of this. When is the 1 million dollar question and answer right now. Even with my limited economics background and with family deeply entrenched and employed by Wall Street, we aren't getting out of this anytime soon.

Over the last year I've watched as people that I know, lost their Jobs, houses, cars, possessions and even family because of this mess. These were people that told me, hey man my job is safe.

You watch TV and you see these multi million dollar earning athletes and movie stars and always say to yourself, I bet they can pay all their bills. I'm never going to forget this time period. I'm 31, I'm going to re-lable that rainy day fund expression to that recession caused by a financial bubble fund. If there's one thing history has taught us, it's that history always repeats itself.
Certainly there are things the middle class can do: If you can't beat em, join em. Invest in the markets. All those "bad guys" on wall street are there to make you money. My mutual funds have done fantastic since the meltdown in 2008.

Also, unemployment for people with college degrees is around 5%. Certainly nothing to panic at.

Finally, I just bought a house a 15 years 3.675%, that's pretty darn good.
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Old 01-18-2011, 11:33 AM
 
Location: University City, Philadelphia
22,583 posts, read 11,772,509 times
Reputation: 15398
It seems to me that some areas of the economy are already improving.

The profits are up for the airlines, the hotel industry, even some of the auto manufacturers.

Unemployment is still very high, though, and I understand that is the last segment of the economy to catch up with the others.
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Old 01-20-2011, 09:56 AM
 
Location: Denver
1,788 posts, read 1,872,696 times
Reputation: 1057
Let me supply some background before I post. Lately, my focus has been on construction in the distant mountains. So I am basically taking the winter off before resuming 60-70 hour weeks. Gives me a lot of time to think and try to plan.

My educational background is in economics, business, and the stock market (having been a broker). I have absolutely no idea what the future is going to bring or if the economy is going to improve. That in spite of spending a few hours a day trying to devise a plan based on likely scenarios.

I probably lean a bit towards pessimism, these being some of the reasons:

1) China wants to do more than play ball with us, I suspect that China wants to bury us. With a billion peasants willing to work for pennies/day...our standard of living would be close to Third World before we could compete.

2) The Patriot Act/surveillance society is here to stay.The litmus test for political leadership is to be spineless and carry out the orders of the CFR, the growing surveillance network, the Pentagon, Israel, and of course....their corporate sponsors. This poses a few problems:

A) Surveillance societies never have robust economies - compare E Germany to W Germany or the USSR to old America.

B) Gigantic financial drain to fund the monstrous government that the Bushbarians foisted on us. Government is a parasite that feeds on the private sector. The larger the parasite, the greater the drain and the weaker the host.

C) Reduced incentive to invest domestically. The licenses, permits, documents, stamps and reduced profit margins provide much incentive to head towards markets that still allow one to have a couple chickens and a goat. Not to mention the men wearing black, toting machine guns, that may knock your door down and toss you in prison for selling orchids (this has happened).

D) A lot of people are fleeing to other countries. This drives down the value of real estate as homes and properties are dumped in order to provide cash for freedom loving people to get the government out of their bedrooms, off of their phones, and away from their emails.

Thats just scratching the surface. I may write more later. I want to see what tactics the Thought Police employ here....
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Old 01-20-2011, 10:13 AM
 
8,667 posts, read 6,342,850 times
Reputation: 3761
Most economies are dependent upon confidence. Most fiat currencies are dependent upon confidence in the currency. Thus, one of the primary strategies for improving the economy is improving confidence. This can be done through propoganda and through government stimulus.....but such strategies are unsustainable if the root issues that caused contraction are not addressed.

The truth is that our nation has an insolvency crisis which it is trying to remedy with liquidity or quantitative easing (creating money from nothing and borrowing money), which in the long run just aggrivates the insolvency crisis, but in the short run creates confidence from the improving of economic indicators and equity markets.
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Old 01-20-2011, 03:31 PM
 
48,519 posts, read 81,048,183 times
Reputation: 17978
hioe I think that the ecomy is and will improve ;it will not be the same and has been goig that direction for deacdes now.This not the first time that our economy has undergone such change.Confidernce has more to do with investing what you have and does little good if the person has nothing to invest.That is why you see reports that many including indivduals evidenced ;by the savings rate ;are not confident yet.Where they will decide to invest that wealth depends. After the 70's recession it is said an entire generation dropped out of the stock market and invested in small business creation.he ast generation investede in stocks and home wic isn't likely now to the degreee is was.
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Old 01-20-2011, 09:38 PM
 
Location: Altoona, PA
932 posts, read 944,354 times
Reputation: 914
I'll tell you this right now: the US will NOT improve for a long time to come, unless we can restore our manufacturing base and export again. The problem is that countries such as China, India and Brazil are emerging superpowers. They are producing goods, for less and in many cases, for the same (or better) quality. It's a global redistribution of wealth that has been on the cards for decades. The erosion of the American standard of life has always been inevitable. We've been prosperous for so long, mostly on the back of World War 2, when Europe and Asia were either decimated, or were under the control of Communism. Now it's a global redistribution of wealth and it will make no difference who is in charge (Republican or Democrat). Americans had better get used to the fact that our standard of life is going to worsen somewhat and that there is nothing we can do about it, unless we want to become imperialistic, or like Nazi Germany pre-WW2 (which is what I'm afraid of, when the chips are truly "down" as it'll only take one charismatic character to come along and galvanize the poor and desperate, should our economy worsen).

This is not the prophecy of doom; this could be reality, depending on whether or not we learn from the mistakes of Germany.
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