[andyt]

Meanwhile, western govts are still trying to spur consumer demand so the economy doesn't totally sink. Can't have it both ways.

[Brenda]

Even with not shitty wages but only one income and kids its VERY hard to put something aside.

[CommanderSock]

$1:

Yes. The delayed gratification posters have a point, but if someone's making shit wages to begin with, it's pretty hard to put anything aside. Hence my continual rants about raising the income of the lowest wage earners.

I agree with you 100%. What people don't realize is, if we are to continue to follow the same macro economic model, we can't have such low tax rates for the top 10%. They need to revert to their pre 70s levels.

The average GDP per capita has grown, unfortunately, only at the top (top 1% of earners incomes went up by more than 1000%). Since 1980, the real income of most workers (inflation adjusted) has not moved by more than $1000. While everything else (inflation adjusted) has actually shot up. The housing market is a very good example of this. In the 40s and 50s, a house would cost 3 times annual wages, and that was the upper limit. Now, this is not the case. Someone making 55-70k, which is considered livable wages in Canada, has to use the upper limit of $225,000 for a home to live a "comfortable" life, or at least to be comparably financially as stable as his grandfather was in the 40s and 50s. Of course, unless you live in a small town, $225,000 is hard to come by for a decent home.

We really need to look inwards, because as the problem gets worse, poverty will increase. People not making ends meet will mean corruption will skyrocket. When people feel the system doesn't work for them, they will simply find ways to cheat or abuse the system.

Anyhow, here's a great book I recently read about capital and money, with nice historical touches:

http://www.amazon.com/Ascent-Money-Fina ... 1594201927

[2Cdo]

Brenda Brenda:

Even with not shitty wages but only one income and kids its VERY hard to put something aside.

Yes it is, but it CAN be done. The problem is people don't even want to give up their morning Timmy's, I guess it's too much effort to brew their own.

[Brenda]

That is a Canadian thing (I guess) that I don't understand. Why would you stand in line for something like Timmy's coffee, if you can drink your own awesome coffee at home, all in peace and quiet?

[andyt]

Brenda Brenda:

That is a Canadian thing (I guess) that I don't understand. Why would you stand in line for something like Timmy's coffee, if you can drink your own awesome coffee at home, all in peace and quiet?

Because unlike you, many Canadians have never learned how to make good coffee - not that it takes a rocket scientist. And of course, we don't all live in pokeyville, our lives are too busy in the big smoke to make our own. But I don't know what the big deal is with Timmy's, heck McDonald's serves better coffee than they do.

My favorite is Turkish style.

[CommanderSock]

andyt andyt:

Brenda Brenda:

That is a Canadian thing (I guess) that I don't understand. Why would you stand in line for something like Timmy's coffee, if you can drink your own awesome coffee at home, all in peace and quiet?

Because unlike you, many Canadians have never learned how to make good coffee - not that it takes a rocket scientist. And of course, we don't all live in pokeyville, our lives are too busy in the big smoke to make our own. But I don't know what the big deal is with Timmy's, heck McDonald's serves better coffee than they do.

My favorite is Turkish style.

Turkish coffee is the best. But it requires a bit of patience since you need to lord over the stove until it hits building point.

But I digress.

[Dragom]

Apparently your supposed to save 33% of your income a month.

Funny how I'd never heard that before.

[ASLplease]

ofcourse I live from paycheck to paycheck. the government is supposed to take care of me just like they are taking care of the baby boomers with my money

[andyt]

ASLplease ASLplease:

just like they are taking care of the baby boomers with my money

How so?

[Robair]

andyt andyt:

ASLplease ASLplease:

just like they are taking care of the baby boomers with my money

How so?

Research the term Grasshopper Generation.

Then read squeezed.

Should give you an idea of where ASL's point of view comes from.

[martin14]

Brenda Brenda:

That is a Canadian thing (I guess) that I don't understand. Why would you stand in line for something like Timmy's coffee, if you can drink your own awesome coffee at home, all in peace and quiet?

Oh God, dont get me started

First thing I did when I got back was jump on the scoot and head
out for a coffee by the lake.

A real coffee.

[martin14]

CommanderSock CommanderSock:

Since 1980, the real income of most workers (inflation adjusted) has not moved by more than $1000. While everything else (inflation adjusted) has actually shot up. The housing market is a very good example of this. In the 40s and 50s, a house would cost 3 times annual wages, and that was the upper limit. Now, this is not the case. Someone making 55-70k, which is considered livable wages in Canada, has to use the upper limit of $225,000 for a home to live a "comfortable" life, or at least to be comparably financially as stable as his grandfather was in the 40s and 50s. Of course, unless you live in a small town, $225,000 is hard to come by for a decent home.

I've read the same, and when I saw all the development on Vancouver Island,
every big intersection has a Timmys, A&W, Starbucks ,
and a Subway.

And all those 10$ an hour jobs to go with it.

I dont think you can buy a garage for 225k in Victoria,
never mind Vancouver.

[Brenda]

andyt andyt:

Brenda Brenda:

That is a Canadian thing (I guess) that I don't understand. Why would you stand in line for something like Timmy's coffee, if you can drink your own awesome coffee at home, all in peace and quiet?

Because unlike you, many Canadians have never learned how to make good coffee - not that it takes a rocket scientist. And of course, we don't all live in pokeyville, our lives are too busy in the big smoke to make our own. But I don't know what the big deal is with Timmy's, heck McDonald's serves better coffee than they do.

My favorite is Turkish style.

Even here in pokey ville the line-ups are long, even inside, not just the drive-thru

[CommanderSock]

martin14 martin14:

CommanderSock CommanderSock:

Since 1980, the real income of most workers (inflation adjusted) has not moved by more than $1000. While everything else (inflation adjusted) has actually shot up. The housing market is a very good example of this. In the 40s and 50s, a house would cost 3 times annual wages, and that was the upper limit. Now, this is not the case. Someone making 55-70k, which is considered livable wages in Canada, has to use the upper limit of $225,000 for a home to live a "comfortable" life, or at least to be comparably financially as stable as his grandfather was in the 40s and 50s. Of course, unless you live in a small town, $225,000 is hard to come by for a decent home.

I've read the same, and when I saw all the development on Vancouver Island,
every big intersection has a Timmys, A&W, Starbucks ,
and a Subway.

And all those 10$ an hour jobs to go with it.

I dont think you can buy a garage for 225k in Victoria,
never mind Vancouver.

Absolutely. Our economy is growing, but unfortunately in all the wrong places. This is the 'service' sector economy. $10.00 McJobs. Vancouver's house prices are astronomical, and BC has the most indebted residents in the country.

You can drive through any small town or Suburb in Canada where there is construction, shiny new 400-700k homes, surrounded by a forest of Tims, A/Ws, McDs and gas stations.

If this trend continues, we could end up in a situation similar to Kazakhstan capital, shiny new city with modern condos and houses, but empty. People living in shacks around them because no one can afford to live inside.