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Economics Discuss Itís No Accident Americans Are Still Broke in a Booming Economy at the Political Forums; Blah, blah, blah . . . The problem is the "money" itself -- or more accurately, what we consider "money". ...

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  #41 (permalink)  
Old 07-22-2018, 05:50 AM
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Default Re: Itís No Accident Americans Are Still Broke in a Booming Economy

Blah, blah, blah . . .

The problem is the "money" itself -- or more accurately, what we consider "money".

Yeah, in the 70's everything went to crap. Well, that's when the dollar was fully decoupled from having actual value.

Closing the gold exchange window has allowed "money" printing and unbridled deficit spending and the unavoidable devaluing of the "dollar" (AKA 'inflation').

In 1964 you could buy a gallon of gas with a quarter. Today, a 90% silver 1964 quarter is worth about $3, which is still on par with a gallon of gas (ignoring the state and federal taxes for a minute).

Similarly, in 1964 the minimum wage was $1.25. Again, a 1964 quarter being worth about $3 . . . 5 X $3 = the wonderful "if only it kept pace" $15 an hour minimum wage.

We don't need infinite socialist "fixes" to our economy, we just need to fix the money.
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Old 07-22-2018, 11:37 AM
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Default Re: Itís No Accident Americans Are Still Broke in a Booming Economy

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Originally Posted by saltwn View Post
16-18 dollars an hour was a decent wage when my spouse was hanging sheet rock in commercial buildings. he learned on the job and could get that salary on the next job. that was late 80s early 90s.
a nephew moved across the country to take 15 an hour in construction.
the same people you gave a tax break to killed construction for many years and its still not solid yet. they over built and helped cause the mortgage crises.
in hourly wages my son made 10-12 and more o a union job. he had to work for 7 an hour for 7 years and whatever raises minimum got because reagan policies revamped the wages bringing them down.
today kids are stuck in minimum wage jobs and more but less than their dads and grampas made. if there is a 10 an hour job well boy howdy the rent's gone up to 750 a month. they live at home or get four room mates two of whom dont pay their portion of the rent.
a car when my son started working was about a hundred a month , now about 3 for the same vehicle. gas was 108 and now is creeping back up toward 3 and some places is 3 again already.
what's wrong with our economy is republicans have blown it up or shut it down the last 40 years back and forth. a few good years under bill clinton and then dufus. now we get dufus on steroids.
Haha, late 80's early 90's and yer sniveling about republicans causing inflation. Newsflash for ya honey, the past 30 years has seen both republicans and democrats in control at one time or the other and inflation occurred with both.
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a car when my son started working was about a hundred a month , now about 3 for the same vehicle
That is a hilarious statement. Buying a car with cash = no monthly payment. That's what I do.
But I don't know, maybe you taught your son that paying compounding interest of 2-4% for a depreciating asset (car) was better than getting 9% positive return in the stock market.
Now, political reality, you said,
Quote:
a few good years under bill clinton and then dufus.
I guess you don't understand that congress controls spending, not the president. The president only signs/approves the spending bills he is presented by from congress. President Clinton signed responsible spending bills from a REPUBLICAN CONTROLLED congress.
Quit being foolish.
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Old 07-22-2018, 04:37 PM
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Default Re: Itís No Accident Americans Are Still Broke in a Booming Economy

Quote:
Originally Posted by Bat View Post
Haha, late 80's early 90's and yer sniveling about republicans causing inflation. Newsflash for ya honey, the past 30 years has seen both republicans and democrats in control at one time or the other and inflation occurred with both.

That is a hilarious statement. Buying a car with cash = no monthly payment. That's what I do.
But I don't know, maybe you taught your son that paying compounding interest of 2-4% for a depreciating asset (car) was better than getting 9% positive return in the stock market.
Now, political reality, you said,

I guess you don't understand that congress controls spending, not the president. The president only signs/approves the spending bills he is presented by from congress. President Clinton signed responsible spending bills from a REPUBLICAN CONTROLLED congress.
Quit being foolish.
clinton had a mandate. very popular even after monika gate.

but back to the subject at hand, I hope the good folks at the last smoke house for smithfield ham in this country appreciate all dumpster fire is doing to
usher in a great economy. http://www.wdbj7.com/content/news/Sm...488835611.html
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Old 07-23-2018, 10:11 AM
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Default Re: Itís No Accident Americans Are Still Broke in a Booming Economy

Quote:
Originally Posted by Bat View Post
Yeah, I keep hearing how wages have been stagnant for the past 5, 10, 15, 20 years. It is really confusing to me to hear that because all the people close to me are seeing wage increases as they progress in their careers. Maybe overall, wages are sort of constant as new workers enter the work force and take the low paying entry level jobs while the experienced workers move up the ladder and get paid more with every step.

I look at my wages for the past 40 years I've been in the work force and on average my wages have doubled about every 7 years. I can hardly call that "stagnant". Inflation has eaten at that increase quite a bit, but in inflation adjusted dollars I am making quite a bit more.

One can't be a cashier or forklift driver or broom-pusher all their life and expect decent salary increases. One has to improve their skillset and advance on to the next level if they want to make more money and keep up with or beat inflation.


after spending 18 years in my field I took the last step I could and started my own business, with 18 years of know how under my belt. It was a big risk, I bet my house on it, home equity was my only capital. That was 15 years ago.
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Old 07-23-2018, 10:22 AM
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Default Re: Itís No Accident Americans Are Still Broke in a Booming Economy

Quote:
Originally Posted by Bat View Post
Haha, late 80's early 90's and yer sniveling about republicans causing inflation. Newsflash for ya honey, the past 30 years has seen both republicans and democrats in control at one time or the other and inflation occurred with both.

That is a hilarious statement. Buying a car with cash = no monthly payment. That's what I do.
But I don't know, maybe you taught your son that paying compounding interest of 2-4% for a depreciating asset (car) was better than getting 9% positive return in the stock market.
Now, political reality, you said,

I guess you don't understand that congress controls spending, not the president. The president only signs/approves the spending bills he is presented by from congress. President Clinton signed responsible spending bills from a REPUBLICAN CONTROLLED congress.
Quit being foolish.
Right, too many people do not understand interest at all. Hell I think some car loans can go out to 10 years now. People think that is great, more car, less monthly payments, yippee! But by the time they pay it off, it's old and they start the ripoff all over again..

And don't even get me started on 2nd & 3rd mortgages to buy boats and toys. A lot of people are really ignorant about spending and saving, it is their bad decisions that get them into financial trouble.

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