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Old Yesterday, 02:27 PM
 
10,962 posts, read 9,368,538 times
Reputation: 6648

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Household debt and student loan debt are non-issues. The federal budget deficit is. A lot of government programs have needed big cuts for a long time (and yes, I didn't support the Trump tax cuts without countervailing budget cuts.)

We're due for a normal cyclical recession. Things have gone up long and hard for a while now. But there's nothing brewing like 2008.

And Warren is an unreconstructed communist idiot.

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
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Old Yesterday, 02:38 PM
 
Location: WA
78 posts, read 40,776 times
Reputation: 82
Quote:
Originally Posted by Dom Cobb View Post
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.

My wife and I are seriously considering from Seattle to LV for lower costs of living (along with that lower tax rates, more sun, and to get away from the "Seattle freeze").


I don't see a problem with more lower income moving to a city. As long as said people have some sort of income, a city needs a diverse population workforce to meet staffing needs. A glaring simplification, but in Seattle it has either highly paid tech workers or the homeless. Very little in between, so there's a severe shortage of blue collar jobs. Not good.
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Old Yesterday, 03:26 PM
 
Location: Viva Las Vegas bound!
2,814 posts, read 2,134,978 times
Reputation: 2387
You guy didn't even read the articles. Warren wrote a book related to the last crash three years before it happened and she was right. She's a Harvard educated Wall Street ball buster in this particular area of expertise.

Both Warren and Yellen are saying the same thing is happening with deregulation again and subprime mortgages. Yellen is the former fed chair for ffs. Ya'll the ones that made it political cause you see a name you don't like. Sheesh. Just discount something right away without even knowing what it's about.
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Old Yesterday, 04:40 PM
 
2,505 posts, read 2,455,976 times
Reputation: 1597
Quote:
Originally Posted by BBMW View Post
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.
No no no. I want you to say it.
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Old Yesterday, 08:29 PM
 
163 posts, read 78,725 times
Reputation: 440
Quote:
Originally Posted by Dom Cobb View Post
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 it’s not a financially sound decision.

I hear you brother, I worked for a startup in Redwood City between 2000-2002 (I am tech and was an Oracle DBA at the time), and even back then I was making $120k and still ended up moving to Phoenix (they opened an office there), kept my bay area salary and was living large. Like an idiot though instead of saving money all I did was party and live it up and I blew a lot of money on sports cars, trips, wild Vegas weekends, etc. At this point I would never even consider moving back to the Bay Area even though I could probably get close to $200k with my skills and experience (that's about where some of my co-workers are that I worked with at the time). It's not worth it to me.

That said, I don't doubt that the lower income people are the people leaving CA and moving to places like Vegas, but I do think there's a certain amount of middle income people ($100kish) who just want a better standard of living than they could get in the large metro areas of CA. Yet people keep claiming the only people moving to Vegas from California are the dirt poor. Even if that were true, honestly, for the lower income people that do leave CA, pack up and move to a new state and trying to start a new life and get a new job and maybe improve their situation.... I have to give them a lot of credit. That can be a scary thing. They could easily stay in California and join the millions of others on welfare and go nowhere. Why move to Vegas when you can stay in California where the weather is great, they get free everything and they've got no incentive to do anything but stay put. California loves their welfare constituents, and if you're there illegally you can practically write your own ticket, lol. So maybe I am the odd man out, but I am not going to put people down who are trying to better their situation, whether they are low income or not. Maybe in the end they will end up leaving but I am not going to knock them for trying...

Last edited by luckydogg; Yesterday at 08:47 PM..
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Old Yesterday, 08:35 PM
EA
 
Location: Las Vegas
6,201 posts, read 5,231,974 times
Reputation: 6889
Quote:
Originally Posted by Merry Lee Gather View Post
You guy didn't even read the articles. Warren wrote a book related to the last crash three years before it happened and she was right. She's a Harvard educated Wall Street ball buster in this particular area of expertise.

Both Warren and Yellen are saying the same thing is happening with deregulation again and subprime mortgages. Yellen is the former fed chair for ffs. Ya'll the ones that made it political cause you see a name you don't like. Sheesh. Just discount something right away without even knowing what it's about.



Warren also wrote a book about how bad Hillary is and then turned right around and endorsed her for president.
She also claimed to be indian. DNA proved that statement false.


https://www.youtube.com/watch?v=12mJ-U76nfg
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Old Yesterday, 09:20 PM
 
529 posts, read 132,869 times
Reputation: 232
Quote:
Originally Posted by EA View Post
Warren also wrote a book about how bad Hillary is and then turned right around and endorsed her for president.
She also claimed to be indian. DNA proved that statement false.


https://www.youtube.com/watch?v=12mJ-U76nfg
She also used to foreclose on people and flip their houses.
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Old Yesterday, 09:34 PM
 
Location: Las Vegas, Nevada
645 posts, read 499,612 times
Reputation: 1910
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 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.

What I meant was people are not moving out of Beverly Hills to Las Vegas to save money. You get what you pay for. There are the people who make $100,000-$200,000 and come to Las Vegas to make their dollars go further, but I do not believe they are the majority of the influx.


Quote:
Originally Posted by BBMW View Post
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.

Most of them had their beds made for them through no fault of their own. Mental or physical illnesses, crack babies, rape, physical abuse, etc.


Quote:
Originally Posted by Merry Lee Gather View Post
You guy didn't even read the articles. Warren wrote a book related to the last crash three years before it happened and she was right. She's a Harvard educated Wall Street ball buster in this particular area of expertise.

Both Warren and Yellen are saying the same thing is happening with deregulation again and subprime mortgages. Yellen is the former fed chair for ffs. Ya'll the ones that made it political cause you see a name you don't like. Sheesh. Just discount something right away without even knowing what it's about.

Elizabeth Warren and Janet Yellen are both brilliant and should be listened to. It blows my mind that 95% of everyone on here is on the Trump train, whether they are on the right or left. I personally follow Richard Wolff. Here is Richard Wolff debating Peter Schiff, who I do not follow.




https://www.youtube.com/watch?v=n9gX...ature=youtu.be
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Old Yesterday, 09:34 PM
 
Location: Lone Mountain Las Vegas NV
13,040 posts, read 4,918,494 times
Reputation: 5759
Quote:
Originally Posted by Commander666 View Post
She also used to foreclose on people and flip their houses.
Does that not make her an All-American Gal in the Trump view?
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Old Yesterday, 09:57 PM
EA
 
Location: Las Vegas
6,201 posts, read 5,231,974 times
Reputation: 6889
Quote:
Originally Posted by Katie the heartbreaker View Post



Elizabeth Warren and Janet Yellen are both brilliant and should be listened to. It blows my mind that 95% of everyone on here is on the Trump train, whether they are on the right or left. I personally follow Richard Wolff. Here is Richard Wolff debating Peter Schiff, who I do not follow.





Warren would sell her own mother into sex slavery for a few bucks. Wouldn't trust her in a padded cell.

Schiff is a real smart guy. I'd follow him over Wolff any day.






Also, I'm not on the Trump train. Just because I disagree with leftists doesn't mean I agree with the right. There are many directions and many parties out there and even, gasp, independent thought.
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