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EconProf
ParticipantOne little-remarked indicator of the report is actually quite upbeat. The number of people working short weeks or part-time who would like to work more fell by over 1 million.
This suggests employers are taking the initial steps that are a precurser to actually hiring more people.ParticipantOne little-remarked indicator of the report is actually quite upbeat. The number of people working short weeks or part-time who would like to work more fell by over 1 million.
This suggests employers are taking the initial steps that are a precurser to actually hiring more people.ParticipantOne little-remarked indicator of the report is actually quite upbeat. The number of people working short weeks or part-time who would like to work more fell by over 1 million.
This suggests employers are taking the initial steps that are a precurser to actually hiring more people.ParticipantSS and Medicare were Ponzi schemes from the beginning and are only now being recognized as such. They were perfect for politicians because they granted immediate benefits, or the promise thereof, and hid the true cost or pushed it into the distant future.
SS allows individuals to contractually count on an annuity for as long as one lives, to be supplemented, or not, by one’s savings and investments. The cost in its first few decades was miniscule–one or two percent of one’s gross, and only up to a ceiling of a low annual income. To further hide the true cost, the government makes the employer pay a like amount for each employee, whose true incidence studies show is a correspondingly lower pay. The full burden is about 13 percent lower pay. Think of what kind of retirement you could have if you invested that percent of your gross every working year up to age 67.
Like so much that government does, it robs people of the incentive to save, to plan and control their own future. It is actuarily unsound in so many ways, and the current recession makes obsolete all recent projections as to when it will self-destruct.
If you are in your twenties or thirties, you are soooo screwed. The greedy geezers, of which I am one, will make you pay taxes up the gazooo to pay for it, then when you are elderly, there will be nothing left.
When I taught economics in the 80s and 90s, I would devote one full lecture to the true nature of SS, and it was always a revelation to the students. I only hope intergenerational warfare is not the result–there is every reason for today’s young workers to be very angry.ParticipantSS and Medicare were Ponzi schemes from the beginning and are only now being recognized as such. They were perfect for politicians because they granted immediate benefits, or the promise thereof, and hid the true cost or pushed it into the distant future.
SS allows individuals to contractually count on an annuity for as long as one lives, to be supplemented, or not, by one’s savings and investments. The cost in its first few decades was miniscule–one or two percent of one’s gross, and only up to a ceiling of a low annual income. To further hide the true cost, the government makes the employer pay a like amount for each employee, whose true incidence studies show is a correspondingly lower pay. The full burden is about 13 percent lower pay. Think of what kind of retirement you could have if you invested that percent of your gross every working year up to age 67.
Like so much that government does, it robs people of the incentive to save, to plan and control their own future. It is actuarily unsound in so many ways, and the current recession makes obsolete all recent projections as to when it will self-destruct.
If you are in your twenties or thirties, you are soooo screwed. The greedy geezers, of which I am one, will make you pay taxes up the gazooo to pay for it, then when you are elderly, there will be nothing left.
When I taught economics in the 80s and 90s, I would devote one full lecture to the true nature of SS, and it was always a revelation to the students. I only hope intergenerational warfare is not the result–there is every reason for today’s young workers to be very angry.ParticipantSS and Medicare were Ponzi schemes from the beginning and are only now being recognized as such. They were perfect for politicians because they granted immediate benefits, or the promise thereof, and hid the true cost or pushed it into the distant future.
SS allows individuals to contractually count on an annuity for as long as one lives, to be supplemented, or not, by one’s savings and investments. The cost in its first few decades was miniscule–one or two percent of one’s gross, and only up to a ceiling of a low annual income. To further hide the true cost, the government makes the employer pay a like amount for each employee, whose true incidence studies show is a correspondingly lower pay. The full burden is about 13 percent lower pay. Think of what kind of retirement you could have if you invested that percent of your gross every working year up to age 67.
Like so much that government does, it robs people of the incentive to save, to plan and control their own future. It is actuarily unsound in so many ways, and the current recession makes obsolete all recent projections as to when it will self-destruct.
If you are in your twenties or thirties, you are soooo screwed. The greedy geezers, of which I am one, will make you pay taxes up the gazooo to pay for it, then when you are elderly, there will be nothing left.
When I taught economics in the 80s and 90s, I would devote one full lecture to the true nature of SS, and it was always a revelation to the students. I only hope intergenerational warfare is not the result–there is every reason for today’s young workers to be very angry.ParticipantSS and Medicare were Ponzi schemes from the beginning and are only now being recognized as such. They were perfect for politicians because they granted immediate benefits, or the promise thereof, and hid the true cost or pushed it into the distant future.
SS allows individuals to contractually count on an annuity for as long as one lives, to be supplemented, or not, by one’s savings and investments. The cost in its first few decades was miniscule–one or two percent of one’s gross, and only up to a ceiling of a low annual income. To further hide the true cost, the government makes the employer pay a like amount for each employee, whose true incidence studies show is a correspondingly lower pay. The full burden is about 13 percent lower pay. Think of what kind of retirement you could have if you invested that percent of your gross every working year up to age 67.
Like so much that government does, it robs people of the incentive to save, to plan and control their own future. It is actuarily unsound in so many ways, and the current recession makes obsolete all recent projections as to when it will self-destruct.
If you are in your twenties or thirties, you are soooo screwed. The greedy geezers, of which I am one, will make you pay taxes up the gazooo to pay for it, then when you are elderly, there will be nothing left.
When I taught economics in the 80s and 90s, I would devote one full lecture to the true nature of SS, and it was always a revelation to the students. I only hope intergenerational warfare is not the result–there is every reason for today’s young workers to be very angry.ParticipantSS and Medicare were Ponzi schemes from the beginning and are only now being recognized as such. They were perfect for politicians because they granted immediate benefits, or the promise thereof, and hid the true cost or pushed it into the distant future.
SS allows individuals to contractually count on an annuity for as long as one lives, to be supplemented, or not, by one’s savings and investments. The cost in its first few decades was miniscule–one or two percent of one’s gross, and only up to a ceiling of a low annual income. To further hide the true cost, the government makes the employer pay a like amount for each employee, whose true incidence studies show is a correspondingly lower pay. The full burden is about 13 percent lower pay. Think of what kind of retirement you could have if you invested that percent of your gross every working year up to age 67.
Like so much that government does, it robs people of the incentive to save, to plan and control their own future. It is actuarily unsound in so many ways, and the current recession makes obsolete all recent projections as to when it will self-destruct.
If you are in your twenties or thirties, you are soooo screwed. The greedy geezers, of which I am one, will make you pay taxes up the gazooo to pay for it, then when you are elderly, there will be nothing left.
When I taught economics in the 80s and 90s, I would devote one full lecture to the true nature of SS, and it was always a revelation to the students. I only hope intergenerational warfare is not the result–there is every reason for today’s young workers to be very angry.ParticipantCouple of suggestions:
Chose designs, colors, materials that the MARKET wants–not too personalized or off-beat. Even if you are not flipping it, you will some day sell it and if you stray too far from the bland, your price will suffer for it.
Prepare to really shop for sub-contractors in this market. They are all hurting and are really ready to make a deal and deliver quality nowadays. Nothing like 4 years ago when they were all super busy, charged outrageous prices, and made you feel like they were doing you a favor just to return their calls.ParticipantCouple of suggestions:
Chose designs, colors, materials that the MARKET wants–not too personalized or off-beat. Even if you are not flipping it, you will some day sell it and if you stray too far from the bland, your price will suffer for it.
Prepare to really shop for sub-contractors in this market. They are all hurting and are really ready to make a deal and deliver quality nowadays. Nothing like 4 years ago when they were all super busy, charged outrageous prices, and made you feel like they were doing you a favor just to return their calls.ParticipantCouple of suggestions:
Chose designs, colors, materials that the MARKET wants–not too personalized or off-beat. Even if you are not flipping it, you will some day sell it and if you stray too far from the bland, your price will suffer for it.
Prepare to really shop for sub-contractors in this market. They are all hurting and are really ready to make a deal and deliver quality nowadays. Nothing like 4 years ago when they were all super busy, charged outrageous prices, and made you feel like they were doing you a favor just to return their calls.ParticipantCouple of suggestions:
Chose designs, colors, materials that the MARKET wants–not too personalized or off-beat. Even if you are not flipping it, you will some day sell it and if you stray too far from the bland, your price will suffer for it.
Prepare to really shop for sub-contractors in this market. They are all hurting and are really ready to make a deal and deliver quality nowadays. Nothing like 4 years ago when they were all super busy, charged outrageous prices, and made you feel like they were doing you a favor just to return their calls.ParticipantCouple of suggestions:
Chose designs, colors, materials that the MARKET wants–not too personalized or off-beat. Even if you are not flipping it, you will some day sell it and if you stray too far from the bland, your price will suffer for it.
Prepare to really shop for sub-contractors in this market. They are all hurting and are really ready to make a deal and deliver quality nowadays. Nothing like 4 years ago when they were all super busy, charged outrageous prices, and made you feel like they were doing you a favor just to return their calls.January 25, 2010 at 6:36 AM in reply to: 1st time buyer question: how does buying investment property 1st affect my mortage options? #505961ParticipantSDR: All true. It boils down to one’s philosophy on insurance. Given that insurance companies take a good share of each premium to cover their probable losses, I like to calculate the odds and “self-insure” as much as possible. Maximum deductibles, no collision insurance (save up and pay cash for the car), never buy extended warranties (where claim costs average over half of premiums), and keep a stash for those rare accidents. Get a $1m umbrella coverage for all misc. claims not covered by the above minimum coverage, which will likely protect the landlord for all other claims in our condo example.
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