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Old 06-08-2009, 02:31 PM
 
Location: Castle Hills
1,133 posts, read 2,426,342 times
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Well, I wonder what is going to happen if we all have to start working for peanuts? Will the price of goods come down? How will we make it?
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Old 06-08-2009, 02:35 PM
 
13,724 posts, read 24,045,069 times
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Quote:
Originally Posted by Stac2007 View Post
If cutting grass is the new green job, we all will be making about $10 an hour.
I know two people who started from nothing and built up their lawn service companies. One was a Mexican who immigrated illegally who paid taxes, lived in a middle class neighborhood house he bought with cash, and overall was a great guy. The other one was a career changer who bought a truck, a trailer, and a few lawn mowers and built up a book of clients. Sold it off, then repeated the same. Did that a few times over the course of a year or two then retired.
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Old 06-08-2009, 03:24 PM
 
Location: Conejo Valley, CA
12,470 posts, read 18,260,687 times
Reputation: 4343
Quote:
Originally Posted by Randomdude View Post
$12 an hour is not living wage in the midwest for a family of 4.
I demonstrated how they could live off that, disagree with the numbers? Someone missing? What? Stating something does not make it the case.

Quote:
Originally Posted by Randomdude View Post
Nothing is stopping Joe 6 Pack from starting a big box retail store to compete with Walmart?
Please read the history of Walmart, it started out as a small mom and pop store.

Quote:
Originally Posted by Randomdude View Post
Creating an Airline? Creating a car manufacturer? A pharmeceutical company?
Some business require more start-up capital than others. But that is what investors are for. People with good ideas and no money are able to find angel investors all the time. But there are a variety of businesses that do not require much start-up capital.

Quote:
Originally Posted by Randomdude View Post
The most average Joe Six Pack can hope to create is a web based technology company, or a small service business.
They can create a number of small businesses, there is no reason why they can't create a manufacturing businesses. There are tons of small manufactures across the country.

Quote:
Originally Posted by Randomdude View Post
The problem with large monopolies and oligopolies is that the entry cost to...
There are only a few industries were entry is largely blocked by established businesses, but these sorts of things don't last. Technology has a way of destroying them.

Quote:
Originally Posted by Randomdude View Post
However, I will bet a standard pair of Levis is more in real terms today then it was 20 years ago.
Instead of guessing why don't you actually demonstrate it?
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Old 06-08-2009, 04:08 PM
 
13,724 posts, read 24,045,069 times
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Quote:
Originally Posted by user_id View Post
I demonstrated how they could live off that, disagree with the numbers? Someone missing? What? Stating something does not make it the case.
I lived off of $7.50/hr but it wasn't really living. I lived in a small apartment driving an old car that needed repairs that I couldn't afford, ate pasta noodles and sauce for dinner every night and never turned the heat or a/c on. Just being able to live off of a wage doesn't make them middle class.

There is little room for saving for downpayment on a house, emergency fund savings, well any savings at all for that matter. They would be "existing" and that is it.
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Old 06-08-2009, 04:30 PM
 
Location: Conejo Valley, CA
12,470 posts, read 18,260,687 times
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Quote:
Originally Posted by wheelsup View Post
There is little room for saving for downpayment on a house, emergency fund savings, well any savings at all for that matter. They would be "existing" and that is it.
No, they would be doing fairly well. They'd have around $300/month to save each month. Within a year they'd have enough for a down payment on a FHA loan. They would not be living like kings, but they can have a decent sized houses, plenty of food, many modern conveniences, etc.
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Old 06-08-2009, 06:41 PM
 
Location: Great State of Texas
86,068 posts, read 77,047,534 times
Reputation: 27654
Quote:
Originally Posted by user_id View Post
No, they would be doing fairly well. They'd have around $300/month to save each month. Within a year they'd have enough for a down payment on a FHA loan. They would not be living like kings, but they can have a decent sized houses, plenty of food, many modern conveniences, etc.
You go ahead and think that..reality is way different though.
Looks good on paper to you but real life is not the same.
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Old 06-08-2009, 06:54 PM
 
Location: Conejo Valley, CA
12,470 posts, read 18,260,687 times
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Quote:
Originally Posted by HappyTexan View Post
You go ahead and think that..reality is way different though.
Looks good on paper to you but real life is not the same.
I love this stuff, all you guy can say "reality is different". Its arithmetic! Was there something wrong with my budget? Living on the budget I gave is not that bad and the wage is certainly a "living wage". This family will actually live noticeably better than someone in the same relative income level 30 years ago.

Perspective has been entirely lost in this country.
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Old 06-09-2009, 06:20 AM
 
Location: Castle Hills
1,133 posts, read 2,426,342 times
Reputation: 611
The problem is we have extended ourselves so far we can no longer maintain it. We have to get back to the basics. If wages continue lower, even after the recession, then people will have to downsize which could include not having a cell phone, not having a washer and dryer, not having cable,not having internet, living in a trailer, growing most of their own food, possibly become a vegetarian, cut their own hair, have less kids, etc. The list goes on and on.

Heck, my whole family grew up without cell phones, without a washer and dryer, no cable, no internet, my mom cut my hair, we had a lot of vegetables from a small garden we made, had a beat up car, etc. Were we poor? No.. we were half of poor which is PO, but we grew up right and are just fine now. Actually, we are better off than most people. Material things don't mean a whole lot to us. Slowing down, enjoying life, and thanking god for each beautiful day we have does. Man it would be nice to go back to times were people had strong morals and values again.
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Old 06-09-2009, 06:54 AM
 
Location: Londonderry, NH
41,478 posts, read 54,434,206 times
Reputation: 24739
I would like to see user_id try his budget near any place with decent jobs. Rents in my area are 12 to 15 hundred a month or more. There goes the $12 per hour budget. User is dreaming.

AFAIAC the morals of big business (anything goes so long as it makes us a profit) is where our country has failed. Even Henry Ford started out paying his assembly line workers enough to eventually buy one of the cars they made. City Bank executives would laugh at the concept.
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Old 06-09-2009, 06:59 AM
 
Location: Virginia Beach, VA
5,517 posts, read 9,436,609 times
Reputation: 2547
Quote:
Originally Posted by ufcrules1 View Post
Well, I wonder what is going to happen if we all have to start working for peanuts? Will the price of goods come down? How will we make it?

The price will only come down if credit is completely eliminated from the American life style.

Right now, credit is being substituted as income and allowing goods to carry price tags far higher then a cash only market would suggest.
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