[meadandale]

[quote=CA renter]
With all due respect, the majority of people I’ve known who had to work 2-3 jobs were very, very poor. The wealthiest people I’ve known had to do the least amount of work, and what work they did do was much more pleasant than what most poor people do for a living.[/quote]

You need to get out more.

I do contract work. If I take on extra clients it means that instead of doing 40 hours a week of contract work I’m doing 50 or 60 or 70. Currently that’s profitable to me because the opportunity costs of having less time versus making more money (that isn’t just taxed away by the state/fed) is justified. When the Bush tax cuts expire at the end of this year it won’t make quite as much sense to work harder. When you are ‘poor’ and work overtime, you are compensated extra for it (time and a half, double-time). When I work overtime I get the same hourly rate but I get taxed more–the more I work, the less I make per hour.

At some point you just say “screw it”.

[meadandale]

[quote=CA renter]
With all due respect, the majority of people I’ve known who had to work 2-3 jobs were very, very poor. The wealthiest people I’ve known had to do the least amount of work, and what work they did do was much more pleasant than what most poor people do for a living.[/quote]

You need to get out more.

I do contract work. If I take on extra clients it means that instead of doing 40 hours a week of contract work I’m doing 50 or 60 or 70. Currently that’s profitable to me because the opportunity costs of having less time versus making more money (that isn’t just taxed away by the state/fed) is justified. When the Bush tax cuts expire at the end of this year it won’t make quite as much sense to work harder. When you are ‘poor’ and work overtime, you are compensated extra for it (time and a half, double-time). When I work overtime I get the same hourly rate but I get taxed more–the more I work, the less I make per hour.

At some point you just say “screw it”.

[meadandale]

[quote=CA renter]
With all due respect, the majority of people I’ve known who had to work 2-3 jobs were very, very poor. The wealthiest people I’ve known had to do the least amount of work, and what work they did do was much more pleasant than what most poor people do for a living.[/quote]

You need to get out more.

I do contract work. If I take on extra clients it means that instead of doing 40 hours a week of contract work I’m doing 50 or 60 or 70. Currently that’s profitable to me because the opportunity costs of having less time versus making more money (that isn’t just taxed away by the state/fed) is justified. When the Bush tax cuts expire at the end of this year it won’t make quite as much sense to work harder. When you are ‘poor’ and work overtime, you are compensated extra for it (time and a half, double-time). When I work overtime I get the same hourly rate but I get taxed more–the more I work, the less I make per hour.

At some point you just say “screw it”.

[meadandale]

[quote=CA renter]
With all due respect, the majority of people I’ve known who had to work 2-3 jobs were very, very poor. The wealthiest people I’ve known had to do the least amount of work, and what work they did do was much more pleasant than what most poor people do for a living.[/quote]

You need to get out more.

I do contract work. If I take on extra clients it means that instead of doing 40 hours a week of contract work I’m doing 50 or 60 or 70. Currently that’s profitable to me because the opportunity costs of having less time versus making more money (that isn’t just taxed away by the state/fed) is justified. When the Bush tax cuts expire at the end of this year it won’t make quite as much sense to work harder. When you are ‘poor’ and work overtime, you are compensated extra for it (time and a half, double-time). When I work overtime I get the same hourly rate but I get taxed more–the more I work, the less I make per hour.

At some point you just say “screw it”.

[meadandale]

I have Cocks Cable and it’s taking me there…muy bien!

[meadandale]

I have Cocks Cable and it’s taking me there…muy bien!

[meadandale]

I have Cocks Cable and it’s taking me there…muy bien!

[meadandale]

I have Cocks Cable and it’s taking me there…muy bien!

[meadandale]

I have Cocks Cable and it’s taking me there…muy bien!

[meadandale]

[quote=poorgradstudent]
Also, consumer sentiment is improving partially because of real improvement in the economy. Things are still pretty crummy, but by all indicators it looks like we bottomed out around January ’10. At this point there really is no where to go but up.[/quote]

We still have high unemployment and a looming debt crisis at all levels of government that is being virtually ignored.

Any call of a bottom is extremely premature and certainly qualifies as ‘irrational exuberance’.

[meadandale]

[quote=poorgradstudent]
Also, consumer sentiment is improving partially because of real improvement in the economy. Things are still pretty crummy, but by all indicators it looks like we bottomed out around January ’10. At this point there really is no where to go but up.[/quote]

We still have high unemployment and a looming debt crisis at all levels of government that is being virtually ignored.

Any call of a bottom is extremely premature and certainly qualifies as ‘irrational exuberance’.

[meadandale]

[quote=poorgradstudent]
Also, consumer sentiment is improving partially because of real improvement in the economy. Things are still pretty crummy, but by all indicators it looks like we bottomed out around January ’10. At this point there really is no where to go but up.[/quote]

We still have high unemployment and a looming debt crisis at all levels of government that is being virtually ignored.

Any call of a bottom is extremely premature and certainly qualifies as ‘irrational exuberance’.

[meadandale]

[quote=poorgradstudent]
Also, consumer sentiment is improving partially because of real improvement in the economy. Things are still pretty crummy, but by all indicators it looks like we bottomed out around January ’10. At this point there really is no where to go but up.[/quote]

We still have high unemployment and a looming debt crisis at all levels of government that is being virtually ignored.

Any call of a bottom is extremely premature and certainly qualifies as ‘irrational exuberance’.

[meadandale]

[quote=poorgradstudent]
Also, consumer sentiment is improving partially because of real improvement in the economy. Things are still pretty crummy, but by all indicators it looks like we bottomed out around January ’10. At this point there really is no where to go but up.[/quote]

We still have high unemployment and a looming debt crisis at all levels of government that is being virtually ignored.

Any call of a bottom is extremely premature and certainly qualifies as ‘irrational exuberance’.

[meadandale]

We all know that these people aren’t smart enough to be banking their mortgage payments in lieu of making the payments so I’d say that this assessment is pretty much spot on.

I think that we are in the eye of the storm. There’s a big front coming. Consider that home values are storming upwards again in San Diego with absolutely nothing to support them. Once rates rise (as they must) this will come to an end. And it’s going to be a long time until the economy truly recovers. We aren’t even close–I think that it’s going to get alot worse before it gets better, especially considering the dire state of US debt and our huge deficit spending binge.

[Author]

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