Is the economy sound, or not?

#126
#126
volinbham said:
I had chores - just never got paid for them! Working is what paid my meager bills.
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oh yeah. for the most part I didn't either.

I remember being super ticked at my family in the summer between college semesters. I worked two jobs. Hotel breakfast, cooking food, and cleaning after. then straight to a landscaping job with no lunch break. I was on the clock from 5 am to 8 pm. whenever I was home I was expected to cook, wash dishes, and still mow the lawn. I was ticked to be doing the same thing, but not getting paid for it. never had much of a summer break, but it got some money in my pocket for college. made me really want a real job, and to be out on my own.
 
#128
#128
LouderVol said:
I remember being super ticked at my family in the summer between college semesters. I worked two jobs. Hotel breakfast, cooking food, and cleaning after. then straight to a landscaping job with no lunch break. I was on the clock from 5 am to 8 pm. whenever I was home I was expected to cook, wash dishes, and still mow the lawn. I was ticked to be doing the same thing, but not getting paid for it. never had much of a summer break, but it got some money in my pocket for college. made me really want a real job, and to be out on my own.
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This sounds familiar.

I graduated HS on a Saturday morning, slept in on Sunday, and on his way out the door to work on Monday morning my dad tossed me the paper and told me to have some leads on work before he got home.

My parents scrimped and saved to make sure I could afford to go away to college and not have to work while taking classes, but there was no rest once summer hit. They never had to pay for my books or fraternity dues.

It's a lesson I absolutely hated at the time but one my kids are going to learn when they're seniors in HS. Enjoy the 36 hours after graduation, because you go job hunting on Monday.
 
#129
#129
My guess is the distribution curve is so skewed at the top and bottom, the median income doesn't tell you much. When the "middle class" covers everything from a receptionist to an oncologist's salary, that's a pretty wide difference between levels of financial stress. A spread that wide ($40k - $122k) is also probably a good indicator that the middle class is getting wiped out.
 
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#130
#130
I agree with most of what's here. My parents always said we were "lower middle class" on the very rare occasion that was discussed, maybe once, but today we would be considered working poor. Like Hog, i never had nikes or nice clothes and shoes until i was old enough to contribute and buy them myself...our clothes usually came from sears, on a charge card lol...like our lawnmower, bikes, everything else...but my parents made sure we were always well kept, had manners, werent made fun of bc of our clothes, etc. They did their best and i am very thankful. To this day, i will wear nice shirts that my wife gets from goodwill on the rich side of town that dont fit perfectly so my kids can have name brand clothes etc...but we dont buy high dollar crap just for a name on it. We shop sales, clip coupons etc..i look back and know that my parents did without things that they wanted so we could have what we needed...and i am very thankful and humbled.
 
#139
#139
SpaceCoastVol said:
They should allow them to be bankruptable. Then all these 15th century gay poetry of western England PhD programs will go away. Banks won't make that kind of investment knowing they won't get their money back.
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That's a trillion bucks or so you want to disappear.
 
#140
#140
zeppelin128 said:
That's a trillion bucks or so you want to disappear.
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And your party wants to just 'forgive' those debts. My way, the banks will sit up and take notice and stop loaning to perpetuate the insanity of stupid liberal degrees. Your way, the American taxpayer will remain on the hook for idiotic degrees that will never produce one iota of worth.
 
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#141
#141
VolStrom said:
Yep, interest rates were pretty onerous back in those days. I remember getting a "special" interest rate on a new car back in 1983 of 12.9%. That was probably akin to getting a 0% loan for 5 years now days.
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Low interest rates benefits consumers but destroys savers.

I wonder how much your bank was paying on deposits back then?
 
#144
#144
Burger said:
The big bubble is Student Loans.
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Not only are student loans not able to be discharged in a bankruptcy as @SpaceCoastVol said, but they are guaranteed by the federal government as an incentive for banks to make the loan.

Warren, Bernie, AOC, etc. are very quick to point how expensive college is compared to the past and how its cost is rising much faster than the general rate of inflation. They are totally accurate to say that, but notice none of them go on to ask precisely why that is occurring.

If you guarantee the loan, if you're the bank, why wouldn't you make it? And if anyone can get a loan, guess what happens - everybody goes to college, colleges compete for the students by turning campuses into adult day care centers, and the costs just spiral upwards. Remove the federal guarantee and most, if not all, of this crap ends. But they won't do it because the government "needs to help" people go to college, right?
 
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#145
#145
I had a poll tweet guy who turned into my collusion tweet guy who is now transitioning to be my economy tweet guy. I suppose there is nothing wrong with diversifying.
 
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#146
#146
I don't look at the treasury yield because The Fed is selling off more short term treasury bonds.

Colleges need to be held accountable for their sales tactics.
 
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#150
#150
lawgator1 said:
Things are getting interesting with Mueller report. Definitely some stonewalling going on there by Barr. Probably at direction of Trump team.

RTR.

The whole thing.
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Roll tide roll?

What’s up w Florida fans tonight? Duke basketball and now Alabama?
 
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