- This topic has 815 replies, 23 voices, and was last updated 1 year, 9 months ago by
Coronita.
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June 3, 2022 at 9:53 AM #825850June 3, 2022 at 12:21 PM #825852
JPJonesParticipant[quote=an][quote=JPJones]Well, there it is:
Word is he walked back his full-time-in-the-office ultimatum, too, to just 2-3 days a week with first-come-first-served seating. This guy is scumbag, not a leader.[/quote]
Not surprised at all to anyone who actually know about the tech job market and have a pulse in tech employee satisfaction.[/quote]Yup! I was just following up on my previous comment where I said as much.
June 3, 2022 at 12:40 PM #825855an
Participant[quote=JPJones][quote=an][quote=JPJones]Well, there it is:
Word is he walked back his full-time-in-the-office ultimatum, too, to just 2-3 days a week with first-come-first-served seating. This guy is scumbag, not a leader.[/quote]
Not surprised at all to anyone who actually know about the tech job market and have a pulse in tech employee satisfaction.[/quote]Yup! I was just following up on my previous comment where I said as much.[/quote]I 100% agree. Musk can flex his muscle all he wants, but the power right now is in the employee’s hands. He just have to hope that his engineers wants to come into the office.
June 3, 2022 at 12:46 PM #825856JPJonesParticipant[quote=deadzone][quote=Coronita][quote=JPJones]Well, there it is:
Word is he walked back his full-time-in-the-office ultimatum, too, to just 2-3 days a week with first-come-first-served seating. This guy is scumbag, not a leader.[/quote]
Forcing people back to the office is going to work only
(1)for employees that want to come back to the office
and hate working at home all the time, like meOr
(2)for employees that are unemployable elsewhere and who do not have enough fuck you money yet and still need a job to pay for basic rent and living expenses.[/quote]
I think you greatly over-exaggerate how many people have “Fuck You money”. Fact is there will be industry wide layoffs this year, a lot of folks who were previously making big salaries will be on unemployment. That is not good for housing market.[/quote]
Yes, and most of us here have acknowledged that. New employment numbers came out this morning. TL;DR: unemployment is down and job openings are still at record highs, including in tech. We’ll see if the current round of layoffs puts a dent in those numbers.
June 3, 2022 at 12:47 PM #825857flyer
Participantdz, I think you might underestimate the many sources of wealth some have, other than the obvious, and who have been living the lives they want to live for many years mostly independent of market conditions.
Per this discussion, whether this, or other demographics are large enough to sustain the continued acceleration of pricing in the real estate market remains to be seen, and should be interesting to watch.
June 3, 2022 at 12:55 PM #825859JPJonesParticipant[quote=an][quote=JPJones][quote=an][quote=JPJones]Well, there it is:
Word is he walked back his full-time-in-the-office ultimatum, too, to just 2-3 days a week with first-come-first-served seating. This guy is scumbag, not a leader.[/quote]
Not surprised at all to anyone who actually know about the tech job market and have a pulse in tech employee satisfaction.[/quote]Yup! I was just following up on my previous comment where I said as much.[/quote]I 100% agree. Musk can flex his muscle all he wants, but the power right now is in the employee’s hands. He just have to hope that his engineers wants to come into the office.[/quote]
Yeah, and I know you guys prefer hard data, but another rumor is that roughly half of his devops team don’t have desks to sit at or parking. Add to that how most of the new hires over the past 2 years don’t live near a Tesla office and Musk just ends up looking like an out of touch clown.
June 3, 2022 at 1:42 PM #825860Participant[quote=JPJones]Yeah, and I know you guys prefer hard data, but another rumor is that roughly half of his devops team don’t have desks to sit at or parking. Add to that how most of the new hires over the past 2 years don’t live near a Tesla office and Musk just ends up looking like an out of touch clown.[/quote]
Well, maybe he can take the $ saving from cutting 10% of his workforce to expand the office to accomodate for all the new people they hired over the last 2 years but don’t have a desk for. Not to mention, cramming people into tight spaces is so Pre-COVID, so, gotta spend even more money to build even bigger offices, lolJune 3, 2022 at 2:02 PM #825861Anonymous
Guest[quote=flyer]dz, I think you might underestimate the many sources of wealth some have, other than the obvious, and who have been living the lives they want to live for many years mostly independent of market conditions.
Per this discussion, whether this, or other demographics are large enough to sustain the continued acceleration of pricing in the real estate market remains to be seen, and should be interesting to watch.[/quote]
There is no doubt the primary source of wealth in the U.S. comes from RE and Stock appreciation. If those markets take a 30 or 40% haircut, the reverse wealth effect will be staggering.
June 3, 2022 at 2:17 PM #825863ParticipantWe’ve been through many cycles over the years, and agree, some make it through, and even benefit, and some don’t. Positioning, and tapping other sources of wealth during those times have made all of the difference for us, as well as others, so it’s definitely possible to weather the storms, and even improve your position.
June 3, 2022 at 2:17 PM #825862sdrealtor
Participant[quote=deadzone][quote=flyer]dz, I think you might underestimate the many sources of wealth some have, other than the obvious, and who have been living the lives they want to live for many years mostly independent of market conditions.
Per this discussion, whether this, or other demographics are large enough to sustain the continued acceleration of pricing in the real estate market remains to be seen, and should be interesting to watch.[/quote]
There is no doubt the primary source of wealth in the U.S. comes from RE and Stock appreciation. If those markets take a 30 or 40% haircut, the reverse wealth effect will be staggering.[/quote]
What is staggering and devastating is how big of a failure it was not to buy a home 20 or even 10 years ago. All you had to do was be responsible and make payments. As your salary increased add a little to the payment each month. As rates dropped, refi to lower your rate but keep paying the same monthly payment. Thats really all you had to do. Paid off home at retirement with low RE tax bill, no rent or monthly mortgage payment.
Other simple things. When electric bills spiked, add solar and get rid of electric bill. When drought came, get rid of lawn, put in xeriscape, cut water bill to next to nothing and fire landscaper. When gas got expensive get a hybrid or EV. The road map was simple and obvious to anyone paying attention. Then retire whenever you want with fixed monthly expenses well under $2K and social security almost double that. Pensions, 401K, IRA’s, passive income, dividends, driving Uber, working at In n Out? Whatever floats your boat but mostly gravy. FU$ was that easy!
June 3, 2022 at 2:58 PM #825864Participant[quote=deadzone][quote=flyer]dz, I think you might underestimate the many sources of wealth some have, other than the obvious, and who have been living the lives they want to live for many years mostly independent of market conditions.
Per this discussion, whether this, or other demographics are large enough to sustain the continued acceleration of pricing in the real estate market remains to be seen, and should be interesting to watch.[/quote]
There is no doubt the primary source of wealth in the U.S. comes from RE and Stock appreciation. If those markets take a 30 or 40% haircut, the reverse wealth effect will be staggering.[/quote]
There’s no doubt that when we see a crash, the poor and middle class will be hurt the most and the wealthy will be swooping in the pick up these assets at dirt cheap price and get that much richer. Wealth gap will grow.Just like what happened in 2008, buyers at the bottom were the wealthy buying all cash while the sellers are the poor and middle class people who had to short sale or got foreclosed on.
June 3, 2022 at 3:24 PM #825865CoronitaParticipant[quote=deadzone][quote=flyer]dz, I think you might underestimate the many sources of wealth some have, other than the obvious, and who have been living the lives they want to live for many years mostly independent of market conditions.
Per this discussion, whether this, or other demographics are large enough to sustain the continued acceleration of pricing in the real estate market remains to be seen, and should be interesting to watch.[/quote]
There is no doubt the primary source of wealth in the U.S. comes from RE and Stock appreciation. If those markets take a 30 or 40% haircut, the reverse wealth effect will be staggering.[/quote]
Wrong… And I’ll give you 2 very simple examples…
1. Housing: When one owns outright one’s primary residence and all their rentals free and clear with no mortgage, one doesn’t count on the property’s appreciation to make money. One treats the rentals no different than a pension, where it generates income no different than a job.
As nice as appreciation is for me, what matters to me these days for rentals is the $10k/month positive cashflow that is my “pension” on top of the W2 salary i take home. If I could double it, that would be ideal. Appreciation is just icing on the cake. slow, steady, and consistency always wins in the long run.
2. Stock appreciation…With the exception of tech workers and other workers that get RSU stock grants (more later), I would argue the vast majority of people who own stock/mutual funds/index funds on their own, have it primarily in the IRA/401k/403b/Roth/College 529k or other retirement accounts, and less so in an after tax brokerage account, or if they have both, have more in the former than that latter. Simple reason is because of tax deferral or tax exempt status of those accounts, and the power of compounding tax deferred or tax free…. And because of this, here’s the thing. You can’t touch those retirement accounts until you are close to retirement anyway without a huge penalty. So whether a 401k/IRA goes up or down when your in your 20ies,30ies, 40ies, 50ies…doesn’t really matter beyond just a number on a piece of paper..Hence, most people are not counting on their 401k right now for their day to day living expenses because they are still not old enough to use it. Even when you can touch those retirement accounts in your mid-50ies to sixties, that’s the last bucket of money you want to touch so you can continue to let it grow tax free. So what the stock market does in the short term, really doesn’t matter for the vast number of people who has stock/fund investments in their retirement accounts. Can’t do anything until 55-65 anywayway.
NOW, as one gets closer to retirement, people are dependent on these accounts…BUT….what they should have done if they plan right is convert from higher risk stock investment to lower risk well before they needed to use it….lower return investments like bonds, cash, treasuries,etc for the very reason that IF there is a stock market correction, they are safe… I did this for my kids’s 529 college savings account. It’s seen a lot of appreciation, and my kid will hopefully need it in 2 years, so end of last year, I moved most of it out of stock investments into a target fund “graduation year xxxx” that changes the allocation to more shorter term the closer the date gets to the time my kid graduates.So right now even if the start market has corrected, it’s only seen about a 2% decline versus the -14.34% YTD of the S&P500.
So most people probably have far less after tax stock investments, with the exception of company issued RSU/stock grants. As far as stock grants…Most people who work at a job don’t get it. Tech is an exception to the rule, so tech workers typically get compensated by RSU on top of salary and cash bonus. But the inside scoop about RSU company stock compensation is that generally, one doesn’t keep most of the stock indefinitely. You sell and diversify a little at a time. That’s why you aways see CEOs, VPs, etc registered for time-based selling that automatically sells a portion of their company stock over regular intervals. It’s a way to diversify and avoid any sort of inside trading restrictions if you just arrange ahead of time for a time based scheduled selling. That’s why if you see a CEO sell a bunch of shares, it doesn’t mean he/she doesn’t have any faith in the company. He/she is simply cashing in a small percentage regularly, and collecting his/her retirement pension that way.
June 3, 2022 at 4:51 PM #825866GuestI don’t have time to go through your entire dissertation on this subject, but once again it looks like you are drunk and typing random keys on your computer.
Just look at yourself in the mirror, how much of your net worth (i.e. Wealth) is tied up in RE and Stocks? Almost all of it I will go out on a limb? That would explain why you are so defensive whenever anyone brings up the topic of RE or stock market crashing.
June 3, 2022 at 9:19 PM #825867JPJonesParticipant[quote=deadzone]I don’t have time to go through your entire dissertation on this subject, but once again it looks like you are drunk and typing random keys on your computer.
Just look at yourself in the mirror, how much of your net worth (i.e. Wealth) is tied up in RE and Stocks? Almost all of it I will go out on a limb? That would explain why you are so defensive whenever anyone brings up the topic of RE or stock market crashing.[/quote]
How have you not been shown the door yet?
June 3, 2022 at 10:53 PM #825868CoronitaParticipant[quote=deadzone]I don’t have time to go through your entire dissertation on this subject, but once again it looks like you are drunk and typing random keys on your computer.
Just look at yourself in the mirror, how much of your net worth (i.e. Wealth) is tied up in RE and Stocks? Almost all of it I will go out on a limb? That would explain why you are so defensive whenever anyone brings up the topic of RE or stock market crashing.[/quote]
I understand because reading comprehension can be difficult at times.
But to your question. I’m not at all defensive, you’re the one overly defensive and trying to prove how right and smart you are. Bluntly put, this recession and inflation will not nearly affect me as much as you so i understand why you are hell bent on proving how right you are
Bluntly put, it sounds like you are so far behind building your financial house from being so pessimistic the past 20+years, it totally backfired, and now you need a miracle catch up to others that have been just inching forward slowly over the past twenty years.
It’s like the story of the tortoise and the hare, in which you thought you could outsmart the tortoise by picking some select one hit wonders, and didn’t bother to run the slow, tiny incremental race over the past 20 years that others have done to move their financial pillar forward step by step, slowly.. And now, due to poor planning on your part 20 years later, you’re seeing that the tortoise has crossed the finish line, and you haven’t even left the starting gate… So now you’re hoping for a miracle earthquake that will make the tortoise roll back to the start line, even though he already finished the race…Because even though the race has already been decided, by seeing the tortoise at the starting gate from an earthquake, somehow makes you feel like you can still win the race, in theory, despite the race is already over.
Why do you think I’m defensive about things again? I don’t need a miracle to be made whole and catch up 20 years of doing not much…. Sounds like you do…
Yes, the hard truth is: sometimes trying to be an outlier and outsmart everyone else, one ends up being dead wrong and end up in a financial dead zone for a long time.
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