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American jobs
09-16-2018, 03:49 PM,
#51
RE: American jobs
(09-16-2018, 09:12 AM)hookup Wrote: Those living paycheck to paycheck  ....

... have poor financial management skills.  I learned my lesson in my late teens/early 20's and my parents had to bail me out.  Never again. 

It´s not that simple. On the one hand, yes, there is a minimum one needs for food and housing that does not allow for savings. On the other hand, everybody who worked in a bank will tell you that some people feel the need to keep 1-3 paychecks on their account, some keep it balanced and some will always max out any given limit regardless the consequences and that the size of their paycheck has little to nothing to do with that. There are folks who win 20.000 in the lottery and develop a livestyle that ends them up with 50.000 dept two years later. I`ve seen this many a time and it annoys me when some particularly smart person from the left points out how unfairly enequal wealth is "distributed" in society.  

For real stock marked investment, one needs to have enough funds to diversify at reasonable costs and enough time to do ones`s homework - qualities that are usualy not atributed to a single mum working for minimal wage. That being said, there are many financial products that allow access to the stock market through reasonable payments. 

In my experience, most people fail because they do not acknowledge human behaviour, not to say weakness. Example: Cost average effect realy works, but only if you let it. When we had do prematurely "butcher" a person`s stock based life insurance, the performance was almost always surprisingly good in spite of that products high commissons. That was because the customer didn`t care about the short term performance, it was "for later", and stuck with it come hell or high water. If the same customer bought a regular share-savings plan however, he checked the performance twice a day. At the first bump in the road, rather than continuing to buy shares at lower prices, he gets nervous and sees his banker who feels with him and recommends that new guarantee product....

I could go on for a looong time with stuff like that. Thruth is, many people do not have financial discipline, and even more people simply don`t have the stomach to handle either stocks and their banker. Low income is only one factor.
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09-16-2018, 05:43 PM,
#52
RE: American jobs
Bucho - we pretty much agree and this is the truth:

Quote:Thruth is, many people do not have financial discipline

When I screwed up I made a small income. After that I had to learn how to live without all the "wants" that I had.

Sure, I'd like to have more, but have disciplined myself to live within my means
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09-17-2018, 02:30 AM,
#53
RE: American jobs
Politcians on both side of the atlantic are very good at triggering this kind of poverty-at- your-own -fault discussion which is usually not going anywhere. The thread is about wether or not there will be good jobs in America that provide quality of living. Speaking of stocks, I`m not sure if Europe will manage to stay on top of things with the changes to come, but I wouldn`t put my money on the U.S.A.

Remember both Swedish Ericson and Finnish Nokia could instantly switch from rubber boots to cell phones because they had an abundance of well educated work force to thrieve on. Corporate tax cuts, increases in military spending and protective tariffs for outdated industries will help few industries and sound good to the rust belt but will not be of much use in the long run.

Americ a has some leading industries like the big 4 Apple, Google, MS and Amazon which draw far more money out of Europe than that "unfair" trade deficit would suggest, but these profits are not being used in a way that would be of much help for the rest of your economy.
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09-20-2018, 01:44 PM,
#54
RE: American jobs
I'm sad to say although I'm not a fan of the mega-companies, I'm on a mac, luv my iPod, shop Amazon all the time, and support Googles health.

But I did buy some Nike stock when it dropped like a rock after they hired Kaspernike and the ad went viral. Up 35% now. Wish I got more
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10-09-2018, 08:40 AM,
#55
RE: American jobs

.jpg   JanSchakowsky.jpg (Size: 36.45 KB / Downloads: 15)

Here's a picture of US Representative (Ill-D) Jan Shakowsky being arrested outside McDonalds headquarters protesting for better wages and a union.

"Nearly 1,000 fast-food and other service workers along the community leaders and politicians blocked the entrance to McDonald's downtown headquarters Thursday afternoon. Dozens of workers and Schakowsky were taken into custody along with the Rev. Dr. William Barber II, co-chair of the Poor People's Campaign: A National Call for Moral Revival; Mary Kay Henry, president of the Service Employees International Union; Illinois state Assembly members Kelly Cassidy, Will Guzzardi; and Chicago Aldermen Susan Sadlowski Garza, Rick Munoz, Deb Mell, Carlos Rosa and John Arena.


"Uplifting the poor, demanding union rights and fighting for a living wage are key to the moral and political battle of the Poor People's Campaign," said the Rev. Dr. Barber II. "That's why we're taking to the streets today and ballot boxes in November. Non-violent civil disobedience in the name of what is just isn't a new tactic, rather, it is a tradition in how we've accomplished change in this nation.""
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10-09-2018, 09:22 AM,
#56
RE: American jobs
I understand corporate tax cuts will pay for themselve as they stimulate investment. After all, companies know best how to spend their money if you leave more to them.  

What beats me though is the question why the very same people who argue this way usually take a very different approach to minimal wage and local demand. Wink

I am relieved to learn my own government slowly turns to higher domestic spending rather than trusting on further growth through foreign trade surplus over neighbouring countries that may or may not pay back their depts and return the favor. Heck, we even hire substantially more cops and inland secret service, which of course has nothing to do with a seven figure uncontrolled migration from instable countries.
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10-09-2018, 10:54 AM,
#57
RE: American jobs
Bucho, are you being sarcastic? Its already noted here in the USA that coincidental to the corporate tax cut was massive stock buybacks. Does that qualify as "investment" and if so how does the average working citizen benefit?

I don't understand how "financial management skills" can help someone trying to survive on our Fed minimum wage of $7.25 / hour? After deductions $1,160 a month won't even cover decent shelter rent. The latest annual housing expense from the Dept. of Labor = urban $17,226 rural $12,115.

Like it or not our national economies depend on global cooperation. I just read that due to the tariff war China has suspended US source oil purchases and is sourcing soybeans from other countries, just to mention 2 affected commodities. And guess who's paying for farm subsidies and increased prices on imports?
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10-09-2018, 01:02 PM,
#58
RE: American jobs
(10-09-2018, 10:54 AM)Hawnjigs Wrote: Bucho, are you being sarcastic?

In a way.
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