Posted on 12/11/2023 8:53:44 AM PST by Red Badger
I think that someone mentioned to Joe that the thing that ended FDR’s Great Depression was WWII. And by the looks of it, Joe took this to heart and is trying to implement a similar solution ...
Good discussion—I was thinking back to days as a young adult in Dallas.
My (new to the workforce entry level) wage was 7.00 an hour = $1,120
My very pleasant one bedroom apartment in a large apartment complex near Love Field had a rent = $155 a month
= 14% of my gross pay.
https://www.fox4news.com/news/dallas-rent-study
The average Dallas rent today is $1,801, 11.6 times the rent I was paying in the mid 1970s.
So are wages 11.6 times higher?
Nope.
https://www.ziprecruiter.com/Salaries/-in-Dallas,TX
The average hourly salary is $32 an hour = 4.6 times the salary I made as an entry level worker, so it is a safe bet that the entry level salary is in the 3 times range.
That means that the young person starting out is paying four times as much in equivalent rent as I was paying as a youngster.
That is brutal by any standard.
I suspect that their brains aren’t fully developed.
This is why I believe Tik Tok is a useless excuse for an app.
If it were worse, they wouldn’t have access to the stupid app.....
I saw that movie recently........
Of course it’s way worse because it’s happening to them.
These children have no idea what real hardship is.
Or iPhones, etc
Hardly worse, not even to the same level. Tik Toc types have NO CLUE.
'Hardship' to them is being booted off social media for 48 hours.................
TickTockers are economic morons.
Even though I don’t fully believe the government numbers, unemployment hasn’t really budged. Economic recovery from the pandemic seems to have continued.
Mortgage rates are almost normalized (these folks don’t realize that 2% mortgages are the exception, not the rule.). Bond rates around 5% were the norm for ages (remember savings bank rates were 4-5% for decades?)
This economy is not great. But we are nowhere in the same zip code as a “depression.”
$155 a month. Exactly what I paid (with roommate so cut it in half) in Arlington in 1970. In 72 I got married and got an older but serviceable apt for $92.50. For $95 I could have gotten it furnished. The Minimum Wage was $1.60 an hour.
That equates to $256 a month, 37% of my pay. My wife worked too, so we survived. I can’t remember what she made.
The problem isn’t so much the minimum wage when we start. The problem is people who after 5, 10, 15 years are still making minimum wage. How can they be so stagnant? My grandson is 18 and makes $19 an hour, way above minimum wage. My step-daughter has only a G.E.D. education and at 46 she’s making $90k. A lot of people are underachieving for some reason.
Yeah, same. Five things occurred that increased the depression (not financial): 1) Biden became president 2) the President left office and has been harassed ever since. 3) The J6 prisoner situation 4) Rush Limbaugh died 5) the unchecked invasion at our border.
Two people who might have been thrown to their deaths. I can’t think of any financial loss that would make me commit suicide especially by falling to my death. Russian oligarchs get thrown to their deaths almost daily.
Many businesses here still have Help Wanted signs, are understaffed, especially restaurants and service type industries.
Where are all these ‘immigrants’ that supposedly need jobs? They certainly aren’t looking very hard..............
maybe that should be the name for the 20’s, the great personal depression.
When I first came to Hawaii, my 5 acres with a fairly new house and ocean view cost about three times my yearly salary at the time. That is the usual formula. My salary was about 64,000 in year 2000.
Today this same home, quite a bit older would require a Salary of about 300,000 per year to follow the old formula.
I don’t think wages have kept up that much.
The only Depression I experience, is every time a Democrat says something.
I wish my home would decrease in value. I live here, it is not an investment to be flipped to make money. It is my home.
There is no economic Depression.
Just Democrat and RINO BS.
In January 2020 the number of employed in the US was 158.8 million. In November of 2023 it was 161.8 million (see link below). So there are 3 million more people with jobs than before the pandemic. But in this time period at least 8 million illegal immigrants entered the country. If they all got jobs, then the legal population must have 5 million fewer jobs than 4 years ago. If none of them got jobs, then the legal population has 3 million more jobs but we have 8 million people who can only survive by having their food, their shelter, their health care, their education, their clothing, and everything they consume provided for them by the legal population through taxes and government subsidy payments to the illegal immigrants. No one is sending these people money from their home countries.
https://www.bls.gov/charts/employment-situation/civilian-employment.htm
So either 1) the unemployment rate among legal citizens went up by 5mm/161mm or about 3%, and so the unemployment rate among legal residents is really 6.7% not the 3.7% reported by the government, or 2) we are paying full freight for 8 million people none of whom have a job.
These “migrants” are living the high life on your tax dollars. Why bother getting a job?
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