|Re: It was at 18,332 the day before he was elected and the run up from there ...|
Deacon... the center of America has been gutted both in substance and spirit. Its a common understanding but has a lot of truth to it. It explains your observation that real estate seems high. For the top end, lets say those in the top 10% or for those whose homes appreciated, a $ 600,000 digs isn't a stretch. For those who rode the more extreme appreciation cycles on the coasts a home for twice that isn't crazy because they're banking the sale. The other day I looked at a home sale whose mortgage was calculated to be about $48,000 per mo... and its been sold so money is flowing to some.
However most of America hasn't had their home appreciate to where selling provides an upgrade or even a horizontal move. Try moving from Indiana to Connecticut or New Jersey, or from North Carolina to California. What's the average home in San Francisco.
Executive pay used to be about 50 times the average worker in a company. Now its often as high as 500 times the average worker. Its a rip off, a theft of the center. Boards of Directors in a conspiracy to constantly raise salaries, options, and golden parachutes. Meanwhile the worker who really needs to replace his car, or send his kid to college needs hourly overtime, shops at WalMart and thinks a two week vacation is great.
So back to your statement that you don't think the economy has recovered. Its been a recovery for a few but not for most. The Trump Tax bill didn't help most people. It was a give to certain groups of people with property, stock, inheritance, and kinds of business like commercial real estate. It raised the value of creating an LLC for yourself, coincidence that Trump has over 550 LLC's in his name.
I look around and see how robotics will take over repetitive labor, displacing millions of truck drivers, how software can get rid of most accountants, stock brokers, financial analysts, indeed most mid level jobs will be shaken loose from corporations in the next ten years. A few, only a few will reap the huge profits from this disruption. Only a few.
What's interesting to me is how will all these people pay their bills. Those that get incredibly rich from the replacement process will claim Capitalism has always been part of our social challenge. But not like this. Can any of them find new jobs with good pay that sustains the tens of millions who will need jobs? I haven't heard it yet.
I was talking with a Fed-X delivery guy about drones. They will be used by Amazon to deliver packages. Lobbying is heavy right now at the FAA, I know, I've heard it. Drivers get about $36,000 per year with holiday overtime. Drones get nothing. Amazon is arguing that drones will help the environment, get trucks off the road. There are 228,000 Fed X empoloyees, do the math. Then add UPS, and eventually USPS and all the others.... and that's just for the delivery of goods sector of the economy.
Its a brave new world... Capitalism will either respond by spreading the wealth and benefits or it will be challenged by those it displaces and has to support. Or perhaps we can have a country where jobs are mostly low pay with a few that are high pay... and a middle that manages the machines.
| Reply to deaconmike - Msg #2789419 - 06/09/2019 17:43|
Re: It was at 18,332 the day before he was elected and the run up from there ...
I'm probably way off by saying this and it's just my opinion but,,,
I don't think the economy has actually fully recovered from the cash of 2008/09.
Can't remember but how much $$ did W handout after announcing late 1 night
that the economy was about to crash?
And, I sold my house a year & a half ago,,,have lived in one area for 30 years,,
have no reason to stay here & figured with my business I can live anywhere as
long as I have internet & cell service.
So, i've been looking at buying a small house in other parts of the country
but seriously,,the prices for some of these dumpy looking places is ridiculous.
My 1st thought when seeing the listing price is,,,geez, what kind of job do
the people buying these places have,,,that can afford that kind of a mortgage.
Guess I'm just out of touch with reality or,,,home prices are too high and we'll
soon see another real estate crash