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Old Yesterday, 02:48 AM
 
Location: Viva Las Vegas bound!
2,814 posts, read 2,134,978 times
Reputation: 2387

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Elizabeth Warren says the warning lights are on for another crash.

Quote:
As Warren describes it, those risk factors include, mounting household debt, with student loan debt more than doubling since the 2008 financial crisis, and a recession in manufacturing,..

..Warren described the debt this way in her Medium blog: “These high-risk loans now make up a quarter of all American business loans, and they look a lot like the pre-2008 subprime mortgages: poorly-underwritten loans with minimal protections that are then packaged and sold to investors.”
https://www.marketwatch.com/story/se...igh-2019-07-22

Janet Yellen, the former fed chair, also warned of another financial crisis coming last December.

https://www.cnbc.com/2018/12/11/yell...al-crisis.html
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Old Yesterday, 07:36 AM
 
163 posts, read 78,725 times
Reputation: 440
Quote:
Originally Posted by Katie the heartbreaker View Post
The majority of the times it is. There simply is nowhere in Las Vegas that can compete with southern coastal areas in California. If money is no object, it does not make sense to move here from there. I like Las Vegas and it is a good place to live, but it is not Oceanside. If I were to win 500 million dollars in the powerball, I would be heading to California. If I were to make $100,000 a year, I would stay here as my dollars would buy much more here with that amount of money.
I don't understand your post. The majority of the time it's thugs, welfare queens and ghetto trash moving to Vegas from California, but if you made $100k you would live in Vegas and not California? Do you consider someone making $100k ghetto trash? What about even a mere $80k?

I also don't get what makes people think that everyone living in California is a "highly educated" multi millionaire. Lol, are you fn kidding me?? There's enough thugs, welfare queens and ghetto trash in California to fill the entire state of Nevada. And those are just the ones living in the US legally. I was born and raised in LA, lived there more than half my life and lived all over the state so I know. So no, California is not this elite society of high class refined luxury individuals that some seem to think it is. I suppose if you only drive your Bentley from your mansion in guard gated Beverly Park to lunch on Rodeo Drive and then spend the afternoon shopping in Beverly Hills, then return back to the mansion, I could see how you would think that. But once you venture out of Beverly Hills and the west side, you find it's not quite the mecca of refined sophisticated billionaires prancing around in $2,500 Prada loafers you might have mistakenly thought it was. By the way, at one time Oceanside was truly the ghetto of North County SD. The only people who went to Oceanside were drunk marines looking for $5 hookers. Good times.
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Old Yesterday, 08:23 AM
 
2,264 posts, read 570,740 times
Reputation: 3982
Quote:
Originally Posted by Merry Lee Gather View Post
Elizabeth Warren says the warning lights are on for another crash.



https://www.marketwatch.com/story/se...igh-2019-07-22

Janet Yellen, the former fed chair, also warned of another financial crisis coming last December.

https://www.cnbc.com/2018/12/11/yell...al-crisis.html
Neither of those two sources are about economics.

Both are about politics.
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Old Yesterday, 08:42 AM
 
522 posts, read 132,869 times
Reputation: 232
Quote:
Originally Posted by RationalExpectations View Post
Neither of those two sources are about economics.

Both are about politics.
Yep.
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Old Yesterday, 08:52 AM
 
522 posts, read 132,869 times
Reputation: 232
How does she want to account for student loans? I'm sure she must realize govt IS responsible for the student debt already, let's give her more power? Most private banks haven't done student loans in a about 15 yrs.
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Old Yesterday, 10:28 AM
 
Location: Here and there, you decide.
12,079 posts, read 23,586,289 times
Reputation: 4239
Quote:
Originally Posted by RationalExpectations View Post
Neither of those two sources are about economics.

Both are about politics.
No such person as Elizabeth Warren... you may be referring to Pocahontas
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Old Yesterday, 11:36 AM
 
Location: Southern Highlands
1,364 posts, read 875,605 times
Reputation: 1161
O'Conner v. Donaldson, United States Supreme Court ruling 1975: f*** 'em, not my problem
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Old Yesterday, 11:44 AM
 
39 posts, read 11,192 times
Reputation: 73
Quote:
Originally Posted by luckydogg View Post
I don't understand your post. The majority of the time it's thugs, welfare queens and ghetto trash moving to Vegas from California, but if you made $100k you would live in Vegas and not California? Do you consider someone making $100k ghetto trash? What about even a mere $80k?
I turned down a job that was well above $100k in SF because it was not even close enough to live there for the quality of life we wanted. I ended up taking a job here for roughly the same money when you consider the tax benefits. Would I rather live in SF? Yes, but itís not a financially sound decision.

Iím not alone in this rationale. Iíve met and known others who have either left SF, LA, Seattle, NYC for lower costs of living without taking a huge pay cut or have turned down jobs in CA because, while the comp package was larger than what they were currently making, could not offset the expense to live there. I donít have any empirical data to validate this, but anecdotally this is what Iíve encountered FWIW.

A lot of the tech people I have worked with who were in their 20s and looking for career opportunities moved to those high cost locations. Many boomerang back to smaller cities after getting the experience and comp they are looking for. There will always be another crop of younger workers right behind them to replace them.

If you looked at many of the top Ecom companies youíd find a large population of late 20s and early 30s workers. They cycle in and out. Itís part of the business plan.

Getting back to your point, that many lower income people move here is correct. Thereís nothing to do to stop them as you donít need formal education to make substance money here in a casino. The ones who are smart and successful learn a trade or work up to management. The ones who are inherently stuck due to limitations of their skills, poor social skills and lack the self awareness to improve their position will eventually leave as they burn through the entry level opportunities they can find. Like the tech companies in CA, the casinos rely and constant supply of labor coming to LV to replace the ones who were never going to be successful regardless of where they came from.
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Old Yesterday, 01:31 PM
 
Location: Studio City, CA 91604
2,719 posts, read 2,999,901 times
Reputation: 4865
Quote:
Originally Posted by luckydogg View Post
By the way, at one time Oceanside was truly the ghetto of North County SD. The only people who went to Oceanside were drunk marines looking for $5 hookers. Good times.

It's been over 30 years since Oceanside fit that description.
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Old Yesterday, 02:23 PM
 
10,956 posts, read 9,368,538 times
Reputation: 6643
Basically, yes. They made their beds, now they have to lie in them. Just do what's necessary to prevent them from causing problems for good law abiding citizens.

Quote:
Originally Posted by ddrhazy View Post
I see this trope given all the time.

OK. People may be addicted. WHAT NEXT? Are you willing to allow things to remain the way they are? Let them live in tents or worse in 110+ degree weather?

This is the same boomer mentality I've heard for a long time. If you're saying "f*** 'em, not my problem". THEN SAY IT. Don't hide behind vagueries.
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