The New Normal

[icenine]

The lead off story in the LA times:

pretty good summation of the structural changes to America after 2008:

http://www.latimes.com/nation/la-na-...#axzz2qy3s5H4d

[mpholland]

I pretty much tend to agree with that summation. The rich are still getting richer. My home is now worth what I paid for it, but should be at about 25% more than I paid for it. I have had a couple raises since the recession started, but they didn't even cover the COL adjustment, so I am still essentially making less than I was in '08. The only thin that has been really positive is that my 401k has gone up higher than it was before.

[noonereal]

Originally Posted by mpholland

I pretty much tend to agree with that summation. The rich are still getting richer. My home is now worth what I paid for it, but should be at about 25% more than I paid for it. I have had a couple raises since the recession started, but they didn't even cover the COL adjustment, so I am still essentially making less than I was in '08. The only thin that has been really positive is that my 401k has gone up higher than it was before.

according to the government cola for seniors, there are basically no cost increases


and Obie is busy selling these out

[mpholland]

Originally Posted by noonereal

according to the government cola for seniors, there are basically no cost increases


and Obie is busy selling these out

As a person who does HUD recertifications for seniors on section 8, I can tell you that since 2008 seniors did go 2 years without a COL adjustment to the SS, but they have not gone without the rest of the years.

[noonereal]

Originally Posted by mpholland

As a person who does HUD recertifications for seniors on section 8, I can tell you that since 2008 seniors did go 2 years without a COL adjustment to the SS, but they have not gone without the rest of the years.

so then you agree with me

[icenine]

I make more money than I did in the 90s but feel poorer.
Plus I really do not buy new stuff...it is all second hand. Except for gas, food, and new cd music releases everything I buy is used, except things for my daughter like phones,laptop, etc.

I see tons of people at thrifts and dollar stores, and of course walmart.

I think the danger is that Wallstreet stock prices are becoming a false indicator of how healthy our economy is.

[bobabode]

Originally Posted by icenine

I make more money than I did in the 90s but feel poorer.
Plus I really do not buy new stuff...it is all second hand. Except for gas, food, and new cd music releases everything I buy is used, except things for my daughter like phones,laptop, etc.

I see tons of people at thrifts and dollar stores, and of course walmart.

I think the danger is that Wallstreet stock prices are becoming a false indicator of how healthy our economy is.

Same here...

...except that I don't personally know about the WalMart thing. Not one thin & worn out dime will I add to their coffers as long as they are subsidized by the taxpayers. Phuck 'em.

[merrylander]

Originally Posted by icenine

I make more money than I did in the 90s but feel poorer.
Plus I really do not buy new stuff...it is all second hand. Except for gas, food, and new cd music releases everything I buy is used, except things for my daughter like phones,laptop, etc.

I see tons of people at thrifts and dollar stores, and of course walmart.

I think the danger is that Wallstreet stock prices are becoming a false indicator of how healthy our economy is.

Wall Street has not been an indicator of the health of the economy ever since they turned it into a casino.

As Sandy G said the day we stopped using money to make things and started using money to make money was the day it hit the fan.

[Ike Bana]

What turned Wall St. into a casino is the same medium that we use to complain about it. Computers and the internet.

Electronic trading and computer driven program electronic trading has made equities a trader's market rather than the investor's market that it was designed to be.

When I'm king, if you want to buy or sell stock, somebody down on the trading floor will have to scribble it down on a piece of paper and walk it over to the other side of the floor to complete a stock transaction.

That said...we, and millions of retirees like us use the money we have to make more money. That, in and of itself, does not make us bad people.

[BlueStreak]

Originally Posted by merrylander

Wall Street has not been an indicator of the health of the economy ever since they turned it into a casino.

As Sandy G said the day we stopped using money to make things and started using money to make money was the day it hit the fan.

Originally Posted by Ike Bana

That said...we, and millions of retirees like us use the money we have to make more money. That, in and of itself, does not make us bad people.

Unfortunately, there is truth in both of these statements. And, Ike, it's not just those who are retired. Anyone who will retire some day, (And they will whether they like it or not.), had better be saving to prepare for retirement or they will end up homeless or living with their kids.

And, trust me, very few of them a saving adequately.

Even bigger trouble ahead.

Dave