The pie isn't growing at a fast enough rate (number, wage, jobs)

[Neuling]

Originally Posted by freemkt

Burger flippers don't buy homes, especially in a good economy.

But they should be able to. I see no reason why they people who work the whole day shouldn't. Of course not mansions, but modest homes...

[Hemlock140]

Originally Posted by Neuling

But they should be able to. I see no reason why they people who work the whole day shouldn't. Of course not mansions, but modest homes...

I doubt that you could cite any time in history where fast food workers could afford to buy a house. It's just not a job meant to be a career or pay a living wage, never has been and never will. It will always be for students, second job, retired senior income, or the most common currently, desperation while looking for something better.

[ncole1]

Originally Posted by Hemlock140

I doubt that you could cite any time in history where fast food workers could afford to buy a house. It's just not a job meant to be a career or pay a living wage, never has been and never will. It will always be for students, second job, retired senior income, or the most common currently, desperation while looking for something better.

And buying a house is not a necessity.

[ncole1]

Originally Posted by ContrarianEcon

debt for getting an education.

There is no return on debt, except for the lender. Return is for the asset that was purchased by going into debt. Not the debt itself.

[ncole1]

Originally Posted by freemkt

Half of all low-income renters spend at least half their income on shelter.

Put another way, there are people in poverty, which isn't news.

[Neuling]

Originally Posted by Hemlock140

I doubt that you could cite any time in history where fast food workers could afford to buy a house. It's just not a job meant to be a career or pay a living wage, never has been and never will. It will always be for students, second job, retired senior income, or the most common currently, desperation while looking for something better.

Meant to be? Says who? Wake up to reality, there are more and more people who will never get beyond such jobs for various reasons.

[Northern Maine Land Man]

There is an economic principle called the velocity of money. The world lives on cash flow. The velocity of money is at an all time low in our country right now. People who have money are holding onto it. People who don't have money are obviously not spending any either. Our economy is grinding to a virtual halt. The fed can't print money fast enough to forestall what is coming.

Buy good stuff such as durable tools, reliable firearms and ammunition. Get good all weather clothing. We could end up wearing our cold weather clothing indoors. Is your present location going to be safe in the near future? Americans should take time to seriously think about such things. Then do what you need to do to protect your families.

[ContrarianEcon]

Originally Posted by ncole1

There is no return on debt, except for the lender. Return is for the asset that was purchased by going into debt. Not the debt itself.

Hair splitting yes. The education didn't pay for the debt incurred to get it. So the debt was a bad investment.

[ContrarianEcon]

Originally Posted by ncole1

Put another way, there are people in poverty, which isn't news.

But the subject at hand is that the growth in the pie isn't keeping up with the needs of the bottom end.

[Neuling]

Originally Posted by Northern Maine Land Man

There is an economic principle called the velocity of money. The world lives on cash flow. The velocity of money is at an all time low in our country right now. People who have money are holding onto it. People who don't have money are obviously not spending any either. Our economy is grinding to a virtual halt. The fed can't print money fast enough to forestall what is coming.

Buy good stuff such as durable tools, reliable firearms and ammunition. Get good all weather clothing. We could end up wearing our cold weather clothing indoors. Is your present location going to be safe in the near future? Americans should take time to seriously think about such things. Then do what you need to do to protect your families.

I don't think turning into survivalists is the solution