30 Sep 08
It boils down to this: Workers whose productivity gains went straight into profits during the economic expansion are now being forced to cough up $700 billion to the same banks that are foreclosing on their houses, denying them student loans and driving up unemployment by tightening credit to business.
http://socialistworker.org/2008/09/24/free-market-meltdown
30 Sep 08
Originally posted by jlillyBut if you worked hard, were responsible, and now have a little cash...
It boils down to this: Workers whose productivity gains went straight into profits during the economic expansion are now being forced to cough up $700 billion to the same banks that are foreclosing on their houses, denying them student loans and driving up unemployment by tightening credit to business.
http://socialistworker.org/2008/09/24/free-market-meltdown
Houses are dirt cheap.
Looks like capitalism is robbing from the rich and giving to the relatively poor...
30 Sep 08
1 edit
Originally posted by jlillyWhat drab place you must at. Mentally & physically. This is just a wake-up call for the United States to start living within our means.
Few Americans can afford anything.
No you can not have a brand new car at 18. No you can not go to college without saving money, or do well in high school, or excell in sports. No you can not buy a house at 24. No you can not get a credit card unit you establish a good credit history.
Wake-up, those that don't screw off in school, those that work hard everyday, those that don't buy all the toys (bikes, atv's, boats, etc..), but slowly save their pennies, can afford what they need.
Most Americans can not tell the difference between a want and a need.
Most Americans are not satisfied with what they have. That is OK, but don't better yourself on credit, especially on credit you can not afford.
Let Wall St fall, most Americans could careless, except that they don't want to increase our national debt or let DC dip into our Social Security any more than they currently do.
Hard working Americans can take care of themselves.
30 Sep 08
1 edit
Originally posted by AThousandYoungAMEN! Being a decent salary-earner who's now debt free ready for investing, I, for one, look forward to upcoming downturn.
But if you worked hard, were responsible, and now have a little cash...
Houses are dirt cheap.
Looks like capitalism is robbing from the rich and giving to the relatively poor...
Slefish, I know, but what the hell...
30 Sep 08
Originally posted by Dace AceThere are so many Americans who cannot afford the FMR. I will give an example:
What drab place you must at. Mentally & physically. This is just a wake-up call for the United States to start living within our means.
No you can not have a brand new car at 18. No you can not go to college without saving money, or do well in high school, or excell in sports. No you can not buy a house at 24. No you can not get a credit card unit ...[text shortened]... ity any more than they currently do.
Hard working Americans can take care of themselves.
In New York, the Fair Market Rent (FMR) for a two-bedroom apartment is $1,198. In order to afford this level of rent and utilities, without paying more than 30% of income on housing, a household must earn $3,993 monthly or $47,910 annually. Assuming a 40-hour work week, 52 weeks per year, this level of income translates into a Housing Wage of $23.03.
In New York, a minimum wage worker earns an hourly wage of $7.15. In order to afford the FMR for a two-bedroom apartment, a minimum wage earner must work 129 hours per week, 52 weeks per year. Or, a household must include 3.2 minimum wage earner(s) working 40 hours per week year-round in order to make the two bedroom FMR affordable.
In New York, the estimated mean (average) wage for a renter is $21.05 an hour. In order to afford the FMR for a two-bedroom apartment at this wage, a renter must work 44 hours per week, 52 weeks per year. Or, working 40 hours per week year-round, a household must include 1.1 worker(s) earning the mean renter wage in order to make the two-bedroom FMR affordable.
http://www.nlihc.org/oor/oor2008/data.cfm?getstate=on&getmsa=on&msa=_all&state=NY
There are plenty of Americans who don't have health care or really crappy health care.
In short, few people are actually owning these bikes and fancy boats you suggest most Americans have.
We're talking about the basic quality of life that many Americans are missing out on
30 Sep 08
Originally posted by jlillyjlilly,
There are so many Americans who cannot afford the FMR. I will give an example:
In New York, the Fair Market Rent (FMR) for a two-bedroom apartment is $1,198.
New York is an expensive place. If it is too difficult to afford to live there, feel free to move elsewhere. The cost-of-living in Iowa is pretty cheap.
"Basic" need does not include a 2 bedroom apartment, for a single person. Get roomates, find a smaller place, rent a room, or move to a more affordable neighborhood. Its not about what you want, only about what you need.
Do you NEED New York, a 2-BR apartment, food, etc...?
30 Sep 08
What about families? They need more than one room in which to live.
Not everyone has the means to just get up and pack their way to Ohio where FMR is lower.
Not to mention if one were to move to a lower FMR state --- good luck finding any work in those sordid economies.
30 Sep 08
Originally posted by jlillyYou're speaking to a man who was living with his Mom a year ago. Now I make 40k with full benefits and most of my expensive private university tuition for a Master's program paid for. I get summers off with full pay and my job has all kinds of hookups for getting the city to pay for part of a house (I think).
Few Americans can afford anything.
I think I like recessions. I keep getting job offers. People are scared; my lack of charm is not so important now, but my intelligence, education and confidence seem much more valuable now than they used to be. People are looking for someone to save them in these uncertain times I guess.
30 Sep 08
Many Americans are not in your position.
Also, your education (depending on what it is) may not be so helpful eventually.
The market is flooded with people just like you already. Lowering those wages.
So you make, what, roughly $19/hour? In some states you couldn't afford the FMR let alone the other costs associated with living.
30 Sep 08
1 edit
Originally posted by jlillyOh, my goodness! Most people cannot afford a two bedroom in New York!
There are so many Americans who cannot afford the FMR. I will give an example:
In New York, the Fair Market Rent (FMR) for a two-bedroom apartment is $1,198. In order to afford this level of rent and utilities, without paying more than 30% of income on housing, a household must earn $3,993 monthly or $47,910 annually. Assuming a 40-hour work week, 52 weeks have.
We're talking about the basic quality of life that many Americans are missing out on
My brother, the lawyer, and his wife, the corporate lawyer, didn't have a two bedroom apartment when they lived and worked in New York.
Guess what? I rent a $600 room!
You're spoiled! If you want people to have two bedroom apartments dirt cheap, go out and buy them and then offer them to people for less than market value. You'll find yourself with a huge waiting list though...you'll never be able to keep up.
What is "the basic quality of life" and how come such a tiny, tiny percentage of humanity has ever had it? Where did you come up with this idea of what "basic quality of life" is and why do you feel so entitled that you can demand everyone receive it without you having to provide it?
30 Sep 08
2 edits
Originally posted by jlillyThe market's flooded with people who have BS in Chemical Biology? Really? What about when I get my Master's in Education? If the market's so flooded why am I the only science teacher in my school with a science degree?
Many Americans are not in your position.
Also, your education (depending on what it is) may not be so helpful eventually.
The market is flooded with people just like you already. Lowering those wages.
So you make, what, roughly $19/hour? In some states you couldn't afford the FMR let alone the other costs associated with living.
No, the market's flooded with Psychology, English, Mass Communication, Sociology and Film majors.
30 Sep 08
2 edits
Originally posted by jlillyPeople should not squirt out babies they cannot afford to raise.
What about families? They need more than one room in which to live.
Not everyone has the means to just get up and pack their way to Ohio where FMR is lower.
Not to mention if one were to move to a lower FMR state --- good luck finding any work in those sordid economies.
Are you offering to take in these families? Do you have a big house where you will support them? You'll find yourself with lines of beggars with babies miles long demanding things from you constantly.
Or did you mean someone else should pay for these things?
30 Sep 08
Alright, Chemical BIO major, your education may suit you.
Plenty of other Americans are not so fortunate, are they?
More than a few college educated folks such as yourself, making $50k+ a year, are now in the food stamp line.
It is happening left and right.
Don't feel too cozy just yet, the machine is still hungry.