90% of Americans are poorer today than in the 1980's. excluding Shadowcat and Dougster who knew they needed extra cash for strip clubs. abovetopsecret.com
I must be in the ten percent by living beneath my means. I didn't even realize I got ahead by spending less.
The only reason I have more savings than in the 80's is because I was in school in the 80's.
As far as living beneath my means I still don't own a cell phone/ smart phone nor a high def tv yet. The ol box type still works fine.
I would like our economic system to last through my retirement days. I imagine it will crash and burn sooner or later if growth in GDP isn't accelerated to 7% or government spending isn't cut enough. National Debt payments are not sustainable at current projections.
On the bright side I get to watch more survival shows like Doomsday Preppers, naked and afraid, survivor man, etc. etc. because some understand on our current path, our currency will collapse or just not be worth very much. The government can drive up the stock market but it does nothing to increase the real value of my wages by spending more than they take in. I am hopeful. I think our system has ten to 25 years before it collapses with no action taken. maybe less if more idiots get elected. I need the system to last 50 to 60 years to cover me in case I live a long time.
On the other hand, we just need the system to last until 2056. I think Armegeddon will be here in 2055 or 2056. 2/3's of the world I expect to die by then. I think I'm optimistic.
"90% of Americans are poorer today than in the 1980's"
This doesn't even make sense to me. Surely more than 10% of people alive during the 1980s are no longer with us. We are talking 30 years ago now.
What year does Kurzweil put The Singularity at now? 2040's? Just got hang in there another 30 years, and then we are all golden.
Kurzweil is another of these elitist types who wants to build a two tier society!
SJG
I think bubbaloos statement made perfect sense and I echo just about everything he said.
I deal with huge corporations and small business alike and most small businesses are getting by, but not making the strides they used to in the past. I still see a lot of businesses come and go, and not just ones in my industry.
I also see corporations nearly working their employees to death. Yes they may make decent salaries, but they are working much harder to earn them than they were 5 years ago. I also see big bonuses and fringe benefits as a thing of the past. What I do see though is executive pay going through the roof. That CEO made 7 Million 5 years ago and is now making 14 Million, but the company did away with the annual $1,000 Christmas bonus to it's 3,000 employees. All bullshit in my opinion.
Are you sure? Because I read more companies now prefer bonuses to regular salary. Certainly my own experience. Also seems to be a move away from stock (Amazon being a notable exception to this - funny just as their stock is coming more down to earth.)
As for working, real depends on the corporation. For some work life balance is all the rage, for others, well not so much. :-)
But richer than the third world
$1000 bonus? I wish. I once got a $30 to $35 gift card. Now I'm lucky to get a gift certificate for a turkey for Christmas. I get nothing for Thanksgiving anymore. Plus I just heard pay raises would be reduced across the company. My boss still wants me to work myself to death. Then he adds in work smarter not harder, yeah right.
The only time I see a raise is when Congress raises minimum wage. And when my company finally gets off its ass and announces its insurance plans, I'm really expecting them to say that all of us are capped at 30 hours a week so they don't have to give us any insurance. Yeah, it'll be time to look for another job then.
Listen to the news all you want, spout off numbers till you're blue in the face. People at the top and those at the bottom might be better off, mostly from government handouts for doing nothing,
Just ask anyone that works for a living if they have any more money in their pockets- they'll disagree that things are better. 10 years go diesel fuel and gas were $1 gallon, or so. Now $4 and over $3 respectively. All diesel trucks get half the fuel mileage and have horrible reliability beacause of government emission mandates. My medical insurance has more than quadrupled- for much worse coverage. Because of these and so many other costs- everything has gone up in price drastically. I own a small business- I have raised my rates significantly to cover my increased costs. Also- when I go out, especially on a weekend night, I notice bars, restauraunts, so on empty compared to just a few years ago when there was a line to get in. I cut more and more spending from my professional and personal life. Actually think about how I spend every $ now. I still do fine- but I'm way tighter with my money than just 3 or 4 years ago. In discussions with other small business owners- we agree- we all work much harder for less. We also think very hard before we hire employees or invest in new equipment. My point is this- Things may look good for the people in the stock market, and those that massage numbers may be in a false happiness. but those of us middle class that do most of the work and pay most of the taxes don't see it.