Homeownership is still a bad investment
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"As Democrats make raising the minimum wage a centerpiece of their 2018 campaigns, and Republicans call for states to handle the issue, both are missing an important problem: Wage laws are poorly enforced, with workers often unable to recover back pay even after the government rules in their favor.
"Thatβs the conclusion of a nine-month investigation by POLITICO, which found that workers are so lightly protected that six states have no investigators to handle minimum-wage violations, while 26 additional states have fewer than 10 investigators. Given the widespread nature of wage theft and the dearth of resources to combat it, most cases go unreported. Thus, an estimated $15 billion in desperately needed income for workers with lowest wages goes instead into the pockets of shady bosses.
"But even those workers who are able to brave the system and win β to get states to order their bosses to pay them what theyβre owed -- confront a further barrier: Fully 41 percent of the wages that employers are ordered to pay back to their workers arenβt recovered, according to a POLITICO survey of 15 states.
"Thatβs partly because, in addition to lacking resources, states lack the tools to go after the landscaping firms, restaurants, cleaning companies and other employers that shed one corporate skin for another, changing names while essentially continuing the same businesses β often to evade orders to pay back their workers."
I keep hearing that the Trump tax cuts are for the rich but I got a substantial tax cut when they went into effect. So I must be rich, I guess. But at the same time, money always seems tight, it seems like groceries and everything else is always so expensive. You don't know how much I look at a $10 purchase and question my ability to afford it. I think a lot depends on where you live - Albany and New York State is expensive to live - you really have to be rich just to keep your head above water and afford the basics along with a little money for buying land and retirement.
"The Misery Index grew famous during the candidacy of Jimmy Carter (a man not known for projecting or encouraging misery), and he used it with great effect against his rival in the 1976 presidential campaign. The index was then in the low teens, having come down from the peak of 19.9% it had reached shortly after Gerald Ford took office. Nevertheless, a figure in the low teens still seemed too much to the electorate, and Carter won easily. However, Carter's own Misery Index peaked at 21.98% in June 1980, when the next election was in full swing. Carter was hoisted by his own petard and lost in a landslide."
"Those numbers are worth keeping in mind as we contemplate a current economy frequently referred to in less than glowing terms, and in light of a market that has recently turned hostile on the bulls. Currently, the Misery Index stands at a scant 5.3%, with the latest unemployment figures coming in at 5.1% and inflation at a mere 0.2% for September. That's the lowest the index has been since the spring of 1956 -- the exact point in time when the end of the first season of Happy Days is set. Happy Days first aired in 1974, when the Misery Index was just gaining notoriety."
While this article has many British examples, discrimination in pricing is becoming a big deal worldwide.
This is going to end very badly. Yes, I enjoyed many of the gains of the past year too, maybe even beating it percentage wise but at some point I know there will be a a major sell off and the grossly inflated numbers will come crashing down. But I don't care, I'm still 20-30 years off from retirement and have a significant amount in FDIC insured savings.
"These lower growth rates could in part be explained by a slowdown in productivity growth and a decline in factor utilization. However, demographic factors and attitudes toward the labor market may also have played significant roles."