The Big lie!!... Number of Full-Time Jobs as Percent of Population Is Lowest It’s Ever Been... The real Obama unemployment rate is above 10%

Those dumb 50 year old millionaires are the ones who said, "Eh, I'll pay the property tax. It's little compared to what I've saved."
It's their fault for not stopping he property tax.

IF they were so admirable, they wouldn't have taken the easy way out. They would have fought the illegal taxes in the first place. Instead they were selfish and lacked any stance for principles.

Now YOU have to pay all these income tax and property tax because all these old millionaires has it well and found it easier to do nothing, and just pay it. These old millionaires are cowards.

Horseshit. The only thing that was projected was social security going bankrupt. Retirees aren't counted in the workforce you fucking idiot.

Hum, lets put two and two together maybe? Think real hard mate!

I'm sitting in my machine shop right now, which is on my acreage, and running CNC equipment as I type. I did start my own business. My stacks of cash have been built up over the last few years, after about 10 years of scrimping and saving to put up the building and buying the equipment. I managed to pull it off because we never had kids, and never blew our money on stupid shit like new cars and toys before we could afford it.

If I had taken the cash I used for the business and lived like everybody else for those 10 years I would have been like everybody else now.

Boomers have a sense of entitlement? No, that would be the millennials. Same assholes that want free education, free housing, free healthcare, and a six figure income for 20 hours a week...blogging or some stupid shit like that. (With a genre in women's studies, anthropolgy, art, literature, or an equally useless major). Working an extra two tears because you FUCKING PAID INTO SS FOR DECADES does not make the boomers greedy. It makes them smart.

Millennials = lazy fucking retards who want to live at home, leech of their parents, watch porn, and play video games.

Refusing to retire just because you want some extra S.S. payment is greedy and entitled. Get the fuck out of the way. You had your time and the younger generation wants to get some real work done, considering we work 10x harder and faster than you old farts who don't even know how to use a computer.

I'm a late baby boomer, will be hitting 60 soon. I am not benefiting from social security. I lost my last job at 52 at the end of 2007. I had to cash in my small IRA to survive for 3 1/2 years till I landed another job. The whole time I helped my kid out and supported my wife who was also unemployed. Yes, I am educated and now work for a small technical company in a small town. I plan on retiring at 62 because of the stress of the job, screw the government. I know whats coming down the road and plan to get out early.

No way housing prices were comparable to today when mortgage rates were over twice what they are now. Yea, you may have paid a higher interest rate but you probably more than made up for it with a cheaper mortgage. And then throw in the fact that you were making 80x the interest on your savings (8% vs 0.1% now), and it's not even close. You had a way better deal in the 80s than young people have now. Not even close.

Case in point, see this article (won't let me link directly to the image):

[link to www.calculatedriskblog.com]

Real home price level was 80 in the early to mid 1980s, and is up to 110 today. Housing was way cheaper back then.

I had no savings back then. I was a borrower at those rates.

well roscoe when ya own the faks an the fak makin machine ya kinda own the news doncha?

$75,000 30 year mortgage at 11.25% is a $728 payment per month.

$150,000 30 year mortgage at today's 4.5% is a $760 per month payment.

You can buy 2x the house at 4.5% compared to the '80s with the same monthly payment.

Last Edited by Copperhead on 02/05/2015 06:45 PM

Yea well most in my generation don't have savings OR a home to call their own and most don't expect to be able to buy one any time soon either. The few of my friends that do have houses bought in 2009-2010 when prices were lower (but still way higher than they were for you in the 80s) and got money from their boomer parents for the down payment. And now prices have been going right back up for the last 4 years with no sign of stopping which just further prices us out of the market. Low mortgage rates aren't much of a help when they're just driving up housing prices.

$75,000 30 year mortgage at 11.25% is a $728 payment per month.

$150,000 30 year mortgage at today's 4.5% is a $760 per month payment.

You can buy 2x the house at 4.5% compared to the '80s with the same monthly payment.


Last post screwed up.

We did not get cash from parents for the down payment.

Lol. You're completely ignoring inflation. A 75k house in the 80s is gonna be a lot nicer than a 150k house today. It's not "2x" the house lol.

Factoring in inflation that $728.45 payment in the '80s would be equal to $1602.70 today.

That $75,000 house would be $165,000 and the payments today at 4.5% would be $836.03.

So in the '80s the payment would have been $1602 in today's dollars, while today the same house would only be $863 per month.

There is your inflation, Junior.

You could buy a $320,000 house today at 4.5% and have the same payment as the $75,000 house of the '80s at 11.25% when you factor in inflation.

Last Edited by Copperhead on 02/05/2015 06:58 PM

Obama has nothing to do with what happens in the country.

He just does what the oligarchs tell him to.

Same with Bushes.

Same with Clintons.

If you want freedom, you're going to have to do something about psychopathic oligarchs.

Good luck.

Just look on Craigslist, only jobs available are minimum-wage junk jobs that nobody would want.

Pizza delivery drivers
Nursing Assistant
Customer Service Reps.

Housing prices are more like 3-4x what they were in the mid 80s, not 2x.

You could buy a $320,000 house today at 4.5% and have the same payment as the $75,000 house of the '80s at 11.25% when you factor in inflation.

I'm much, much dumber for having read your posts. Please stop writing them and read something other than GLP. Make a promise to yourself that you'll spend the next 3-5 years learning how the world works before you verbally vomit on anyone else.

Yeah, it's true, all part time jobs, except those that pay 11.00 hr., and they want a CPA degree for those.

I bought my first house in 1982 and paid 18%.

And, your entire argument is pretty much moot. You made your own choice about buying a house at such high mortgage rates. That was your own bad decision. What choice does my generation have about the anemic savings rates, low wages, and high home prices? None what-so-ever. So stop confusing your poor decision making with the shit economic situation for young workers we have today. If you had played your cards better you could have saved a fortune with 6-10% savings rates. I bet, even in nominal terms, in the 80s your net earnings on interest bearing accounts would have been way higher than I make today. The savings I earn in a year wouldn't even pay for a fast food meal.

Let's compare. Let's say you started with $5000 in your savings account that had an interest rate of 7%. If you deposited another $200 a month over 10 years this is how much money you would have saved up:


Year
Balance
1
$5,361.45
2
$5,749.03
3
$6,164.63
4
$6,610.27
5
$7,088.13
6
$7,600.53
7
$8,149.97
8
$8,739.13
9
$9,370.88
10
$10,048.31


That's $5,050 just in interest accrual. Inflation adjusted that would be about $9,100 today. Now let's take $5000 today, at 0.1% interest


Year
Balance
1
$5,005.00
2
$5,010.01
3
$5,015.02
4
$5,020.04
5
$5,025.06
6
$5,030.09
7
$5,035.12
8
$5,040.16
9
$5,045.20
10
$5,050.25


That's $50 of interest accrual. $50 of savings vs. $9100 in savings, and you're really gonna argue with me about how bad you had it in the 80s???

Sorry, I made a mistake. That did NOT factor in $200 month of savings. It was interest accrual only.

What a tragedy. Just like all the vacant buildings, warehouses and half empty strip malls where I live.

Reminds me of WWII when Germany was bombed out, only now we're being 0bombed as CONgress sits back in luxury with armed agents protecting them, all the while guilty and complicit in allowing the Resident and Fed Reserve to put us in 3rd world poverty.

Fuckn beyond disgusting.

Nursing Assistants start at $10 to $18 hour and it does not take that long to train and get licensed.

There are lot's of jobs in all areas of health care.

The dumb is strong in you.

Wrong. You are factoring inflation for the monthly payment but NOT the home price. If you had bought a $170,000 house, inflation adjusted, it would be the same monthly payment as a $320,000 house today. But you also forget that housing prices have gone up much higher than the rate of inflation, as evidence by the inflation adjusted case shiller index.

Arguing that double the mortgage rate is as bad as getting 1/80 the rate on your savings accounts is dumb dude. It's hard to believe you are sticking to this ridiculous argument for so long.