- Thread starter Madmax
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arty:Absolutely, the rich are getting richer.... the middle class is taking it up the ying yang without lubrication and the poor;just lazy buggers getting poorer.
I've made about $1000 in the last 2.5 months.....yes, business sucked hard this year. 3 businesses on main street closed up shop and one is on the ropes. One store I sell to told me when I went in on the Monday after the May 24 weekend: On a normal long weekend we usually have 100 - 150 customers come through our doors per day. This weekend? We were lucky if we had 10 all day.......
I have a friend who works at the ford dealer up here: he sold 1 truck last month and nothing so far this month. He said sales are down about 20% over last year.......
But what Jerk said: the rich getting richer. That's true. I have another friend who is a R/E agent and he and his partner have sold 15 $1 - 3M plus properties in the last 2 months.....(one just sold that was over $5M)
All that proves is the economy is not even through all sectors or geographically. If GDP growth is higher than population growth plus inflation, by definition people should be better off.
As far as it affects the hobby I think the first thing that impacts is the number of both business and tourist visitors to a city. I'm gussing that business travellers have a higher propensity to hobby than the average suburbanite. Fewer visitors equals fewer pooners.
As far as it affects the hobby I think the first thing that impacts is the number of both business and tourist visitors to a city. I'm gussing that business travellers have a higher propensity to hobby than the average suburbanite. Fewer visitors equals fewer pooners.
train said:
You would think that but it doesn't work out that way. I'm not sure if Canada is the same as the US but in the past...20 yrs (?)...99% +/- of the economic growth has gone to only the top 1% of the population. I don't think the percentage is as high here as it is there, I seem to recall something like 50%? 60%? of our econimic growth has gone to the top 10% of the population.
What that equates to is the rest of us are left scrambling for the leftovers. I think that is one of the main reasons we have "occupy wallstreet" protests going on.
I feel a revolution coming....and it ain't gonna be pretty. Anyone remember who said this famous quote: "let them eat cake"....and what happened to them? I don't see much of a difference today to what was going on back then. The elite were living the highlife while the majority of the population was living in squalor.....
The Authority
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First the US brokers got greedy. Homes were sold to people that couldn't afford it and were bought with almost zero % down. Then the bankers got greedier and you all know how the recession in late 2009 started. The Europeans said hey this is easy money and started doing the same thing which made it a world wide recession after the bust. The US government's bail out didn't cure anything it only prolonged it. We should thank our banks for having a strong system, why we didn't collapse as bad as other countries.
China and India, two power houses are doing fine but cracks are beginning to open. Because of the European fiasco is where we are going to get screwed. The demographics are working against Greece. Their young people have migrated and leaves them with the old supporting the old and never mind their retirement age being 55. Italy's productivity has fallen and their business culture suspicious of outsiders is biting them in the ass. They work more like an insider network capitalism meaning they hate competition in their own country.
French banks invested too heavily in the European bonds and Euro. Don't get me started with Portugal and Spain. Germany, Europe's biggest and best economy is now taking a hit because of the weakness of their neighbors. On and on and on......
It is not going to get better so save your poon dollars and use it wisely.
China and India, two power houses are doing fine but cracks are beginning to open. Because of the European fiasco is where we are going to get screwed. The demographics are working against Greece. Their young people have migrated and leaves them with the old supporting the old and never mind their retirement age being 55. Italy's productivity has fallen and their business culture suspicious of outsiders is biting them in the ass. They work more like an insider network capitalism meaning they hate competition in their own country.
French banks invested too heavily in the European bonds and Euro. Don't get me started with Portugal and Spain. Germany, Europe's biggest and best economy is now taking a hit because of the weakness of their neighbors. On and on and on......
It is not going to get better so save your poon dollars and use it wisely.
I don't claim to be an economist nor did I take university level economics or anything. But the way it was explained to me way back when is like this:
Anytime someone makes a dollar, someone somewhere spends a dollar.
Anytime someone loses a dollar due to investments, someone somewhere made a dollar.
Take the mortgage fiasco for example: all these people who got mortgages and didn't pay them back, someone somewhere got that money. Whoever sold the house, made the money, it didn't just vanish.
Now, as I understand it, pretend each country's economy is a 10 dollar bill. The population is 10 people (to keep it simple).
Today, the way things are, 1 person gets 9 of those dollars, and the other 9, share the remaining dollar. Of those 9, 2 don't do a damn thing (on social assisstance) yet still get a portion of that remaining dollar.....
The person who has the 9 dollars, isn't doing anything with it, ie: putting it back into the economy so everyone is left scrambling for that last dollar. One day one person has a lot of it, then loses it to someone else.
Now to complicate the matter, more so in the US than Canada, every year, there are more and more people scrambling for their share of that last dollar. If that last dollar was shared equally, that means each persons share of that dollar gets smaller and smaller every year. Then you throw in utility companies like Hydro One raising rates exponentially and each person's share of that dollar is reduced further. Add in taxes on necessities like food, water, gas, and the share is reduced even further.
I seriously don't think we'll ever recover from the spot we're in now. Unless the system changes dramatically and we stop throwing money into landfills and giving it away to people like movie stars, popstars, the inventor of facebook.....etc. (that's a whole 'nother thread).
One other point: back in the day when we actually made stuff here, those of us scrambling for that last dollar would spend it locally, thereby simply moving the money around in our own society. Back then, china used to be a poor country. Now since we've stopped making things here, China's economy is booming and there are more and more millionaires there every day. How did they become millionaires? By us giving them our share of that last dollar.......
Anytime someone makes a dollar, someone somewhere spends a dollar.
Anytime someone loses a dollar due to investments, someone somewhere made a dollar.
Take the mortgage fiasco for example: all these people who got mortgages and didn't pay them back, someone somewhere got that money. Whoever sold the house, made the money, it didn't just vanish.
Now, as I understand it, pretend each country's economy is a 10 dollar bill. The population is 10 people (to keep it simple).
Today, the way things are, 1 person gets 9 of those dollars, and the other 9, share the remaining dollar. Of those 9, 2 don't do a damn thing (on social assisstance) yet still get a portion of that remaining dollar.....
The person who has the 9 dollars, isn't doing anything with it, ie: putting it back into the economy so everyone is left scrambling for that last dollar. One day one person has a lot of it, then loses it to someone else.
Now to complicate the matter, more so in the US than Canada, every year, there are more and more people scrambling for their share of that last dollar. If that last dollar was shared equally, that means each persons share of that dollar gets smaller and smaller every year. Then you throw in utility companies like Hydro One raising rates exponentially and each person's share of that dollar is reduced further. Add in taxes on necessities like food, water, gas, and the share is reduced even further.
I seriously don't think we'll ever recover from the spot we're in now. Unless the system changes dramatically and we stop throwing money into landfills and giving it away to people like movie stars, popstars, the inventor of facebook.....etc. (that's a whole 'nother thread).
One other point: back in the day when we actually made stuff here, those of us scrambling for that last dollar would spend it locally, thereby simply moving the money around in our own society. Back then, china used to be a poor country. Now since we've stopped making things here, China's economy is booming and there are more and more millionaires there every day. How did they become millionaires? By us giving them our share of that last dollar.......
On the popstar, movie star, sports star, topic:
What we do as regular joes is like a fishing trawler. The organization (the trawler) scoops up a little bit of money from all of us, and gives it out to a select few (the players/performers). Do you think the guys who set up the stage for a rock concert are millionaires? Nope. Are the guys who run the cameras, edit the movie, set up the lights, etc are they millionaires? Nope. Who makes the money? the studio execs and upfront, the stars.
You want to solve the economy? Get some of those who are billion and millionaires who got that way from taking from us, to give some of that back to society. I'm not talking about going out on the street corner and handing out hundred dollar bills. I'm talking about building houses, setting up a company that say, makes clothes, pay that money out in wages, that way, not only do the regular joes have a job, but the country benefits via taxes collected. Right now, the upper ups aren't paying shit.......
What we do as regular joes is like a fishing trawler. The organization (the trawler) scoops up a little bit of money from all of us, and gives it out to a select few (the players/performers). Do you think the guys who set up the stage for a rock concert are millionaires? Nope. Are the guys who run the cameras, edit the movie, set up the lights, etc are they millionaires? Nope. Who makes the money? the studio execs and upfront, the stars.
You want to solve the economy? Get some of those who are billion and millionaires who got that way from taking from us, to give some of that back to society. I'm not talking about going out on the street corner and handing out hundred dollar bills. I'm talking about building houses, setting up a company that say, makes clothes, pay that money out in wages, that way, not only do the regular joes have a job, but the country benefits via taxes collected. Right now, the upper ups aren't paying shit.......
B
Boing
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Italy and Spain have an abundance of gold. Can they not sell it to pay off debts?.
Curvesaregood
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Europe in worst hour since World War II, Merkel says
https://www.thestar.com/business/ar...orst-hour-since-world-war-ii-merkel-says?bn=1
https://www.thestar.com/business/ar...orst-hour-since-world-war-ii-merkel-says?bn=1
