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Old 05-03-2022, 03:48 PM
 
1,766 posts, read 1,226,484 times
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Quote:
Originally Posted by EDS_ View Post
The truth negates all shame.
What would you know about the truth? Bankers and the truth don’t go together.
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Old 05-03-2022, 03:55 PM
 
19,869 posts, read 18,144,412 times
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Quote:
Originally Posted by C2BP View Post
He is a Banker. Just ignore him since everything he says is a LIE. His job here is to deceive the public and tell you how never ending inflation and high prices are good for you.
For like the 10th time. I'm not a banker. I'm on a bank board.........two different things.

And if I'd opted out to become an amateur herbalist, ski bum, hiker, lye soap maker etc. like the other guy promotes I'd not be on the board. See how that works?


Longer term how's this supposed to work? Hiker guy's little kids see hiker guy opting out. What's likely to happen to them?
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Old 05-03-2022, 04:00 PM
 
19,869 posts, read 18,144,412 times
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Quote:
Originally Posted by Sunbiz1 View Post
I feel you're missing the point, 30 years ago I could support myself in my 20's, working retail; while getting educated for a better profession.
The opportunities I had are no longer available, or at a minimum; greatly diminished.
Understood. My point is your illustration underscores one of the key advantages of buying over renting. In sense buying gives one 15 or 30 years of rent control.

Secondly, from a pay perspective a career in retail without promotions is not going to outgrow inflation. There are simply too many reasonably well qualified people to fill a retail job when someone leaves.
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Old 05-03-2022, 04:35 PM
 
1,766 posts, read 1,226,484 times
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Quote:
Originally Posted by EDS_ View Post
For like the 10th time. I'm not a banker. I'm on a bank board.........two different things.

And if I'd opted out to become an amateur herbalist, ski bum, hiker, lye soap maker etc. like the other guy promotes I'd not be on the board. See how that works?


Longer term how's this supposed to work? Hiker guy's little kids see hiker guy opting out. What's likely to happen to them?
As you can see more and more Americans are WAKING UP and they can see somethings is not right and government numbers don't add up, especially fake and bogus CPI numbers. Why would the government design a statistical instrument that measures inflation but only measures visible inflation (wage inflation) and not invisible inflation (debt inflation)??? Well, if everyone believes that the CPI describes reality, then the government can use the CPI for its own ends, which is INFLATION, INFLATION, INFLATION. This means more money for the banks, and more escalation of prices, which is good for business, and good for the rich of the world.

And you can't shift the blame on different level of eduction. By inflating the cost of everything and with salaries stuck in neutral the Fed created this huge wealth disparity in America making debt slavery the only option for most middle class and lower working class Americans. These people are slowly waking up and realizing what has been done to them. They still believe in American Dream and want to know what happened? Some of them work two and three jobs just to cover monthly bills today.

Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily, and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security but [also] at confidence in the equity of the existing distribution of wealth.

Good Luck!
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Old 05-03-2022, 04:37 PM
 
1,022 posts, read 742,716 times
Reputation: 1914
Quote:
Originally Posted by EDS_ View Post
For like the 10th time. I'm not a banker. I'm on a bank board.........two different things.

And if I'd opted out to become an amateur herbalist, ski bum, hiker, lye soap maker etc. like the other guy promotes I'd not be on the board. See how that works?


Longer term how's this supposed to work? Hiker guy's little kids see hiker guy opting out. What's likely to happen to them?
Hi ED, I think I understand your thoughts. If correct, you are in the 'if I got more $ I will be happier camp.
Well sure, who doesn't want more $. Just what are you willing to give up for it.

Like a previous poster, there was a time when one income was enough for us to marry, raise children, buy a new car, home and go on vacation, for most of the younger generation that is not going to happen. They need to find happiness another way. Similar to the title of this thread.

So go on that hike. Be a ski bum, herbalist or soap maker if that makes you happy.
or be on a board if that makes you happy.
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Old 05-03-2022, 05:05 PM
 
19,869 posts, read 18,144,412 times
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Quote:
Originally Posted by movedintime View Post
Hi ED, I think I understand your thoughts. If correct, you are in the 'if I got more $ I will be happier camp.
Well sure, who doesn't want more $. Just what are you willing to give up for it.

Like a previous poster, there was a time when one income was enough for us to marry, raise children, buy a new car, home and go on vacation, for most of the younger generation that is not going to happen. They need to find happiness another way. Similar to the title of this thread.

So go on that hike. Be a ski bum, herbalist or soap maker if that makes you happy.
or be on a board if that makes you happy.

For me having some money yields a whole lot of freedom.


Single income upper middle class families haven't been the norm for many decades.....The Labor Force Participation Rate for women was over 60% by 1980 and over 40% by 1960.


Being on the board and some other things help me be economically self sufficient and able to care for my family. I love to ski and we ski a lot and I am pretty good at it. But I didn't compromise my family's financial well being to ski a lot more as a younger person.


.
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Old 05-04-2022, 07:39 AM
 
2,286 posts, read 1,588,736 times
Reputation: 3868
Quote:
Originally Posted by GoAmericaGo View Post
Inflation is making cash worthless.

The stock market doesn’t seem like a safe retreat anymore.

Cars are wildly expensive and almost hard to get.

Homes…if you haven’t already bought one that ship has sailed.

Food prices are up…along with everything else.

When I think back over my life, it seems like people of my generation have been brutally clobbered.

Coming out of high school 2004+ and onward there was a huge push for everyone to go to college. I had a lot of friends take on massive debt for their education. Then the meltdown in 2008/2009 happened and these same people with degrees couldn’t even find jobs paying much over minimum wage. Fast forward less than a decade and now we are in the environment we have now.

Seems like a lot of people under 45 might be working until death. Perhaps retirement will be reserved for the top 10%.
You have convinced yourself that you cannot overcome the challenges. The challenges for each generation. Even more for past generation minorities. Once you stop trying just grab a tent and camp out in a California city.

I think this generation has been taught to participate and you will be okay or to quit / be defensive and blame. That is such a terrible thing teachers have conveyed to students.

On the other hand some never give up even when they hit their late 40s or 50s.
I just read an article about Tony Sirico, as a 48 yr old actor who had gigs and appearances in various mob movies and a convict himself. So, he was living with his mom and he auditioned and got hired as a regular cast member on the Sopranos in the late 90s. He got lucky but when you read more about him you learn he was a good salesman in any situation.
The moral is your time to achieve success or live relatively comfortable is not far away if you keep searching. Reinvent yourself. Acquire new skills.

Don't put limits on yourself or you will never surpass your potential.

^^^

Hey, that's a pretty good quote. well, I liked it and it came naturally

Last edited by frankrj; 05-04-2022 at 07:57 AM..
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Old 05-04-2022, 09:57 AM
 
4,952 posts, read 3,069,433 times
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Quote:
Originally Posted by EDS_ View Post
Understood. My point is your illustration underscores one of the key advantages of buying over renting.

Unfortunately, I don't see that price bubble on homes and rent going anywhere but higher; as companies such as Blackrock and the Chinese continue gobbling up the market.

I did a bit of research just now, and hoping for your(any everyone's)opinions:

"The primary cause of the housing affordability problem is that too many households suffer from chronically low income."
https://www.barrons.com/articles/the...ng-51643725884
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Old 05-04-2022, 10:21 AM
 
5,342 posts, read 6,173,944 times
Reputation: 4719
Quote:
Originally Posted by EDS_ View Post
For me having some money yields a whole lot of freedom.


Single income upper middle class families haven't been the norm for many decades.....The Labor Force Participation Rate for women was over 60% by 1980 and over 40% by 1960.


Being on the board and some other things help me be economically self sufficient and able to care for my family. I love to ski and we ski a lot and I am pretty good at it. But I didn't compromise my family's financial well being to ski a lot more as a younger person.


.
I almost feel like this is a nostalgic Leave it to Beaver TV narrative. My mom grew up in a single earner family with a decent number of siblings in the late 50s-early 70s, but they were by all standards lower middle class. They didn't go on vacations, they were crammed into a ~1.1k sq ft house and they had 1 family car, even when the kids were all driving.
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Old 05-04-2022, 10:25 AM
 
4,038 posts, read 1,885,863 times
Reputation: 8685
30 years ago I could support myself in my 20's, working retail;


I just want to clarify - not arguing with you - that by "support yourself" - you mean:


Paid Rent.
Owned A Car.
Paid Insurance.
Paid Tuition.


Working at (for instance) KMart.



Is this what you're saying?


I agree it was MORE possible then - but - if you were like me, then you:


Were driving a car that cost < $1000. Not because cars were cheaper then (of course they were, but) - but because it was normal to drive a used crap-heap as a young person. Now? Nope.


Were living in an apt. that was ~$500 month. Actually, over 30 years, that number (in my neighborhood) has hardly changed - maybe it's $800 now. So that price went down.


Were paying, say, 1000/semester for tuition. An amount that was reasonable. Now? Not so much - that's why "loans."


But:


Min. Wage in 1990 was $3.80. If you worked full time - you were lucky to bring home $500 / month...soooo how'd ya pay your rent? And food?


Let's say you found a place that was $250 back then - absolutely possible. Now you've got 250 leftover - 100% of which would have gone to tuition and books.



And so on.


Point is - it was dang difficult to support yourself and work retail in 1990. And in 2022, it still is.


Hobby Lobby (local here) pays 15/hr. That's dang near 2K take home per month. Rent here is still cheap. Used crappy cars are plentiful. And our local tuition is about 10K a year - a struggle, for sure, at that pay - but in the same realm of possibility as 1990.


Just sayin' - it may actually be harder now in some ways that cannot be measured - but just a dollars and cents thing - the drama associated with "the hard times of today" is really out of proportion with the actual difficulties.
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