Household Income Declining

This is a discussion on Household Income Declining within the Off Topic & Humor Discussion forums, part of the The Back Porch category; Just thought I'd post this little ray of sunshine. The "economic recovery" that is supposedly happening, seems to be mostly anecdotal (or completely made up). ...

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    VIP Member Array Badey's Avatar
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    Household Income Declining

    Just thought I'd post this little ray of sunshine. The "economic recovery" that is supposedly happening, seems to be mostly anecdotal (or completely made up). Household income is down by 1/3.

    http://www.nytimes.com/2014/07/27/bu...less.html?_r=0
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    I wonder at what point people will understand that entitlements are not free.

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    VIP Member Array ghost tracker's Avatar
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    That article is simply TOO big of a buzz-kill for a beautiful Saturday afternoon. Thanks for nothing, Badey!
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    VIP Member Array NONAME762's Avatar
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    Perhaps in RL Badey is a weatherman/meteorologist.
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    Quote Originally Posted by NONAME762 View Post
    Perhaps in RL Badey is a weatherman/meteorologist.
    Well, he can certainly point out an ill wind... When its blowin'.
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    Quote Originally Posted by GeorgiaCarry View Post
    I wonder at what point people will understand that entitlements are not free.

    GeorgiaCarry
    Problem is, they are referring to everyone's Social Security money as "entitlements" now. When did big gov decide my (and your) money is their money and when they wish they can entitle me (you) to it. It's messed up I tell ya!
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    Senior Member Array CanuckQue's Avatar
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    It's a worrying trend. Not much analysis in that article. My suspicion is that a great number of people took on new jobs at vastly lower salaries, and haven't been able to recover. As the article mentions, net wealth did rise in that time period, just not for the average person.
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    VIP Member Array tdave's Avatar
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    I also often hear people referring to Social Security as an "entitlement". I also hear them talking as if defaulting on the money they "borrowed" from it is fiscal responsibility. People have taken lower paying jobs. Others have quit trying to work. Unless we as a country make working more rewarding than taking unearned government aid we are in deep doo doo!

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    VIP Member Array StormRhydr's Avatar
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    Yah know how if we hear a politician, when asked does he support the 2nd Amendment, say something like "Yes! I like hunting! Of course there should be reasonable limits", we know he doesnt get it, and is the wrong man for the job.

    Its the same way with the word "entitlement", and Social Security. We are "entitled" to Social Security because we have paid for it all our lives, and that was the deal made with us.

    We dont need to run from that word, rather we need to start listening to politicians flim flamming us with their fancy patter, and making us think they are talking about "the other guys" getting "entitlements", (that we assume he should not get), when that same politician, (like the ones who claim to like the 2nd Amendment, but want to take guns away from us), really wants to end programs like Social Security, and let us all end up working till we die, as there will be no retirement for any but the mega rich....who bought the politicians to say just that.

    As far as declining income goes, surely most here already knew that. My clients used to simply pay me up front. Now its a major effort for them to pay. Most want to make payments over time. Or "work it off", trade services, you name it. Of course the electric, water & gas utilities want cash, not barter, so it gets interesting during hard times.
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    Member Array sideKahr's Avatar
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    Ours is becoming a stratified society, with declining hope of moving up from the bottom. I don't believe a democracy can be viable in such an environment.
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    Friends, it's no bed of roses for us in the upper strata

    While the aforementioned study is interesting, it is without question biased against the citizens who occupy lofty stations in our society (such as myself).

    Case in point - several of my summer homes in Nice, France, are now worth less than 50% of what I paid for them. This is due to the precipitous decline in property values in France. I admit, I am partly to blame for this condition, as I thought one Mr. Holland was a longshot for the Presidency of France, and I did not mobilize my considerable purse strings in the French Government in time to sway the tide. So alas, once I recognized the threat, the toxic tide had already come in.

    But what do my summer homes in France have to do with this? The study did not account for non-domestic residential holdings, and thus the retreat of global housing prices (which have been proportionally larger than those in the US) is not accounted when determining the net worth of people like me.

    But you need not worry about my good fortune. Fortunately my most trusted man servant, Franklin, has been on top of the global housing market recently, and I've been able to acquire and turn numerous properties in Japan, Germany and the UK for tidy profits. And once again, my father's advice is proved sound: "Son, it doesn't matter how many Governments you buy if your own house is not in order."
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    Senior Member Array nontechguy's Avatar
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    After adjusting for inflation, we are earning less than we did in the 1970's.
    Several sources for this.

    Add in the fact that the true inflation rate is just under 10%, using the same method used in 1980.
    That's before they started "fudging" how it is figured.
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    Senior Member Array CanuckQue's Avatar
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    Quote Originally Posted by nontechguy View Post
    Add in the fact that the true inflation rate is just under 10%, using the same method used in 1980.
    That's before they started "fudging" how it is figured.
    What's your source on that?
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    Hmm... I've paid into SS now since 1955. I draw SS, but I still pay a whopping self-employment tax, up to the maximum annually, and which I'll bet exceeds the amount paid in by most on this board. So - am I a freeloader drawing a free entitlement from the federal teat? Don't make me laugh. Do a little independent thinking...

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    VIP Member Array Phaedrus's Avatar
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    Don't worry though- the rich are richer than they've been since the Guilded Age. The middle clash shrinks while the upper crust is livin' larger and larger every decade.
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