Comments for My Budget 360 Fri, 12 Dec 2014 03:57:37 +0000 hourly 1 Comment on The American Dream deferred for young Americans: Living in rentals, inflated college tuition, and low wages await millions of young Americans. by Snake Plisken Fri, 12 Dec 2014 03:57:37 +0000 FTA: Design engineers we employ are earning 25 to 30 bucks an hour.

We just hired a Process Engineer with 3 years exp in our industry for 74K .

We’ll have an offer out to a Sr. Tooling engineer for 95K by early next week. This person has 25 years under his belt and a Journeyman’s card. If he accepts he’ll be earning close to what I do!


Snake Plisken

Comment on Social Security helps keep half of elderly Americans from poverty: Social Security has become the de facto retirement plan for millions of Americans. by Hey You Fri, 12 Dec 2014 03:06:48 +0000 No, I never made any great amount of money. But regardless, we saved about 10% of our income over the years.
Now, I am on “social security” like a lot of others and it sure helps, However, if the people like Lyndon Johnson had not rolled “SS” into the general funds to pay for, among other excesses, the Viet Nam war, we’d all be in better shape.
The morale is to realize that government people do what they perceive to be in their own selfish interests. – – And why not?; they will continue to have the power for as long as the federal system continues.

Comment on The American Dream deferred for young Americans: Living in rentals, inflated college tuition, and low wages await millions of young Americans. by pantsupdontloot Thu, 11 Dec 2014 20:50:31 +0000 A deferred dream is not a dead dream. My dream was deferred because of Vietnam, my father’s because of WW2, but we both still lived our dreams. We just didn’t use the deferment as a crutch. Today’s generation was raised a lot higher on the hog than we were in the fifties and sixties, and a hellofalot higher than my dad’s generation in the 1930’s. So they had a great, over indulged, petted and pampered childhood, surely they can make a go of it as adults, can’t they? If they have to postpone marriage, kids, or even home ownership for awhile then that is not the end of their dream. If they have brains and are not stupid then they will use this time to accumulate wealth into their own pockets instead of smothering themselves in debt and really killing their dreams. They are in good shape if they will just take the cares they have been dealt and use them to their advantage. Dreamercide can only be invoked by the dreamer and no one else! Thanks and God blesss

Comment on $50 Trillion in Global Wealth Gone in 1 Year: Examining the Financial Markets of the World. by A. S. Mathew Thu, 11 Dec 2014 19:46:25 +0000 Very informative article. The wealth lost to the world in trillions, how long it will take to build up? Then the next question, without having wealth to invest, how wealth can be created?

So, the whole world is caught up in an unimaginable gird-lock of economic challenges and questions. The GDP of the six OPEC countries in the Gulf region was 1.8 trillion in 2013, while the oil price was over
$ 115.00/barrel, now the price is half of that. The Asian economy is going to feel severe economic whirlwind. The lost commodity price in coal-oil-iron-copper-rubber-natural gas etc etc is by the trillions, the purchasing power of the people engaged in those commodity trade are in serious trouble. The State of Kerala in India produce 90% of the rubber for India which is the 3rd largest consumer of rubber in the world. The rubber price is hit too low, in 2011 Rs. 247.00/KG, but now it is Rs. 117.00/kg. 11 million people are making a living through rubber plantations, marketing and service jobs.

The domino effect of the oil price crash will be far-reaching, they will be cutting down on their massive construction projects, less import from the emerging Asian countries, and millions of expatriates from those countries are forced to leave the country. This world-wide economic meltdown is like the third world war but there is no planes and bombs.

Comment on The American Dream deferred for young Americans: Living in rentals, inflated college tuition, and low wages await millions of young Americans. by jhpace1 Thu, 11 Dec 2014 16:21:03 +0000 You can trace the problems with American housing straight to going off the gold standard in 1971. Homes had been mortgaged at 3 times a person’s annual salary for decades. It got down below 2 times annual salary in the early 1970s, and took off afterwards. Local, state, and Federal governments are too dependent upon property taxes (the only stationary target for taxation), and the banks make too much off of a mortgage, and Freddie and Fannie made too many governmental millionaires for the game to ever stop. It peaked in 2007 with people buying homes 8x their annual salary, and the Second Great Depression has realtors and banksters crying that housing just cannot drop again.

In a small, closed community housing would fall back to 2x, 3x levels, with renters making out like bandits for a year or two. But not when big institutional investors buy all the houses and rentals in town, keeping young new buyers from buying or renting at a discount. The bubble never gets popped then. Now we’re being told big money is leaving housing. Say hello to slum-lord type housing and dilapidated rentals as no maintenance happens for the next 20 years, because “it’s not worth it” to renter or owner.

So young people are faced with no jobs, horrendous debt levels, and housing that never fell since 2007 unless the entire neighborhood is worse off than Detroit or Chicago. Do you like being mugged once a week as the richest person on the block? Or everything not nailed down stolen from your front yard? Your children being harassed by the neighbor’s kids? Young people are saying “not yet” and staying with their parents. We’re going back to the Waltons age, multi-generational housing, which no government or realtor wants to hear.