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  1. #2901
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    Quote Originally Posted by OhOh View Post
    ^Many European countries suffer the same dilemma. The notion that low wages will improve things has been shown to be a fallacy. The west now is competing on a global stage. The countries that develop and produce world class items will survive, but only if the local production costs of the items can match the less well developed ones.

    Technology, as we have seen knows no boundaries if a local workforce can be trained well and management of the workforce is similar to developed countries.

    it's not a pretty picture for the developed countries workers, who are used to producing the items consumed globally.
    Thing is long term, it's going to implode on it's self.
    Producing cheaper goods in the 3rd world works fine, while you have first world buyers, wages go down people can't afford the goods.

    A belief that the 3rd world countries will take up the buying, but to buy the goods, they need higher wages.

    It's a snake eating it's own tail, you can't keep producing more, cheaper, cars, white goods, TVs, if no one has money to buy them.

    As wages grow, say in China, you more your production to Vietnam, next you get totally automated, don't need any or few workers, no one has jobs or money, to buy anything.

    What then, limit production, the masses in giant ghettos, the rich in castles.
    It will end up in civil war, if it hasn't already started, there is no long term plan, just short term greed.

  2. #2902
    Thailand Expat OhOh's Avatar
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    ^Yes the old Ford model of paying the workers enough to be able to buy a new car has disappeared.

  3. #2903
    Thailand Expat OhOh's Avatar
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    Meanwhile the alleged No.1 economy helps the numbers along with building yet more weapons of mass destruction.

    A miss allocation of resources?

    "War. As the chart below shows, spending on military aircraft (and parts), mostly purchased by US "allies" in the middle east and elsewhere, just soared to $8.2 billion, a 46.9% jump in one month, and the highest monthly spending spree since... Sept.11."





    What can the buyers be expecting?
    A tray full of GOLD is not worth a moment in time.

  4. #2904
    Thailand Expat Black Heart's Avatar
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    Brother, can you spare a dime?

    Most Americans are one paycheck away from the street


    Published: Jan 31, 2015
    By QUENTIN FOTTRELL
    NEWS EDITOR

    Americans are feeling better about their job security and the economy, but most are theoretically only one paycheck away from the street.

    Approximately 62% of Americans have no emergency savings for things such as a $1,000 emergency room visit or a $500 car repair,
    according to a new survey of 1,000 adults by personal finance website Bankrate.com. Faced with an emergency, they say they would raise the money by reducing spending elsewhere (26%), borrowing from family and/or friends (16%) or using credit cards (12%).

    “Emergency savings are not just critical for weathering an emergency, they’re also important for successful homeownership and retirement saving,” says Signe-Mary McKernan, senior fellow and economist at the Urban Institute, a nonprofit organization that focuses on social and economic policy.


    The findings are strikingly similar to a U.S. Federal Reserve survey of more than 4,000 adults released last year.
    “Savings are depleted for many households after the recession,” it found. Among those who had savings prior to 2008, 57% said they’d used up some or all of their savings in the Great Recession and its aftermath. What’s more, only 39% of respondents reported having a “rainy day” fund adequate to cover three months of expenses and only 48% of respondents said that they would completely cover a hypothetical emergency expense costing $400 without selling something or borrowing money.


    Read: American credit-card debt hits a post-recession high

    Why aren’t people saving? “A lot of people are in debt,” says Andrew Meadows, a San Francisco-based producer of “Broken Eggs,” a documentary about retirement. “Probably the most common types of debt are student loans and costs related to medical issues.” He spent seven weeks traveling around the U.S. and interviewed over 100 people about why they haven’t saved enough money. “People are still feeling the heat from the Great Recession.” Some 44% of senior citizens have enough savings to cover unexpected expenses versus 33% of millennials, Bankrate.com found.

    Read: Half of Americans can’t afford their house

    On the upside, the Bankrate survey found that 82% of Americans keep a household budget, up from 60% in 2012. Even in the age of the smartphone, most people keep a budget the old-fashioned way, either with a pen and paper (36%) or in their heads (18%). Just 26% of those surveyed say they use a computer program or smartphone app. “A solid majority of Americans say they have a household budget, which is a good thing. But too few have the ability to cover expenses outside their budget without going into debt or turning to family and friends for help,” said Claes Bell, a banking analyst at Bankrate.com.

    But while the jobs market is improving and the Affordable Care Act has given an estimated 15 million people access to medical care, the Great Recession does appear to have taken its toll on Americans’ finances; in fact, they’re 40% poorer today than they were in 2007. The net worth of American families — that is, the difference between the values of their assets, including homes and investments, and liabilities — fell to $81,400 in 2013, down slightly from $82,300 in 2010, but a long way off the $135,700 in 2007, according to a report released last month by the nonprofit think tank Pew Research Center in Washington, D.C.

    Most Americans are one paycheck away from the street - MarketWatch
    As of March 15, 2016, I have 97Century Threads.

  5. #2905
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    UK Drs start on around $4ok Cubans on $4k
    USA Drs are bleeding the public to death aided by big Pharma and so called Health maintainance Insurance companies

    WHO states
    US, doctors are amongst the highest paid professionals in the workforce. And it is no wonder, considering the number of years it takes to become one and the ever rising costs of finishing a medical school. However, some may argue that they are too highly paid. But how do US doctors compare with practitioners from other countries, when it comes to paychecks.

    Following, we would like to present you with a list of the 16 highest paying countries for doctors. To keep things fair, we’ve compared how both general practitioners and specialists are paid in countries across the world. We have also taken into account the ratio per Capita GDP, which is an indicator that measures how doctors earn in comparison to the average income in their respective countries. The statistics used in the making of this countdown are taken from the International Labor Organization.


    e.g. back in Finland where in my experience of Oz Uk USA and France the best Drs Average yearly compensation (specialists): $67,000
    Ratio to per Capita GDP (specialists): 3.1
    Average yearly compensation (general practitioners): $60,000
    Ratio to per Capita GDP (general practitioners): 2.7

    So in expensive Norway dr earn c20% over GDP average
    Average yearly compensation (specialists): $77,000
    Ratio to per Capita GDP (specialists): 1.9
    Average yearly compensation (general practitioners): $69,000
    Ratio to per Capita GDP (general practitioners): 1.2

    Average yearly compensation (specialists): $230,000
    Ratio to per Capita GDP (specialists): 5.7
    Average yearly compensation (general practitioners): $161,000
    Ratio to per Capita GDP (general practitioners): 4.1


    Also note the big differential for specialists encouraging all to leave general practice where prevention occurs.

    Student loan could be solved by taxes to train Drs free and stop importing those trained at great expense by poorer nations,this crap is sold to folks by GOP and wealthy shareholders in industries that profit from disease and suffering
    Last edited by david44; 08-01-2016 at 01:36 PM.
    Quote Originally Posted by Latindancer View Post
    I just want the chance to use a bigger porridge bowl.

  6. #2906
    Thailand Expat Black Heart's Avatar
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    Peter Schiff interview, January 16, 2016.

    US returning to a textbook definition of recession, and the pricking of the bubble created by the Fed and gov.


  7. #2907
    Thailand Expat OhOh's Avatar
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    Quote Originally Posted by Black Heart
    US returning to a textbook definition of recession,
    No problems GS issued a report recently. The report showed that "Goldman's Current Activity Indicator" suggested a recession , as indicated in a chart, "Exhibit 8".



    Within an hour or so of the report being published the graph, "exhibit 8" was "revised". This time the last down slope stopped short of the 0% CAI and even showed a small uptick/omitted the last down tick. The dark line was cut short, the pale blue line was unadjusted, indicating a further data point on the graph, which makes a mockery of any "revision".



    However the text in the report suggesting:


    "Although EM assets remain in the cross-hairs – and the outlook there remains tenuous in spots - growth concerns have impacted the market’s view of US and European growth as well, pushing our market-based measure of US growth risk to new post GFC lows (see Exhibit 8)."



    Remained and again mocked the "revised" image.


    One wonders that if the Ameristan "recession" can be white washed so easily, whether joe public will ever notice there was one and subsequently, continue to live in la la land oblivious to financial mayhem circling below their comfort horizon.


    I wonder if my bank can revise my savings account balance, to add a couple of million, as easily.


    Goldman Sends Out Chart Showing U.S. In Recession, Promptly Retracts It | Zero Hedge

  8. #2908
    Thailand Expat Black Heart's Avatar
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    Citi Economist: The U.S. Is the Least Prepared Major Economy for the Huge Changes Ahead

    U.S. politics aren't ready for this.
    Joe Weisenthal
    TheStalwart
    January 21, 2016


    Citigroup's chief global political analyst, Tina Fordham, and Chief Economist Willem Buiter have offered their outlooks on the global state of affairs at the World Economic Forum's annual meeting in Davos. They did not paint a sunny picture.

    Fordham portrayed a world that was seeing rising interstate conflict, increased terrorism, political systems under strain from the refugee crisis, and of course the growing appeal of populist politicians (on the right and left) in Europe and the U.S, or what what Fordham dubs Vox Populi risk.

    What Buiter had to say was no more comforting.

    He sees a world of mediocre growth, a growing (not shrinking) output gap, and policymakers largely unable to deal with these challenges.
    Buiter doesn't see much value in further traditional monetary easing to boost economic growth and suggests that the world needs to rediscover fiscal policy, or ideally some combination of monetary and fiscal policy, to boost demand (something akin to helicopter money). But for political reasons in the U.S. and Europe, this isn't in the cards.

    In fact, Buiter says that because of political dysfunction in the U.S., America is the least-prepared economy for the major economic changes coming in the years ahead.

    Via e-mail, he spelled out his concerns: "Dealing with the growing inequality and possible growing job losses caused by the Fourth Industrial Revolution will require a much larger redistributive role for the state. A guaranteed minimum income and universal state-funded health care, funded out of taxes would not raise many eyebrows in Europe. It would meet huge resistance in the U.S., where there only is a decent social safety net for the old."

    In other words, economic changes that will be brought on by technology necessitate major redistributional efforts. And due to U.S. political resistance, that is unlikely to happen.

    All of which, of course, leads back to Fordham's Vox Populi risk.
    Before it's here, it's on the Bloomberg Terminal.

    Citi Economist: The U.S. Is the Least Prepared Major Economy for the Huge Changes Ahead - Bloomberg Business

  9. #2909
    Thailand Expat OhOh's Avatar
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    We don't need any changes, everything is rosy in Ameristan. A 0.1% uptick shows the economy is booming.



    Note. there is a 0.2% margin of error

    Now where is that chart of the Chinese economy!

  10. #2910
    Thailand Expat OhOh's Avatar
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    What has happened to Caterpillar?
    The company has world class products, it has financial backing from the Ameristan banks and government but it has not singularly learnt how to adjust to new competition and new market conditions.

    For many months sales have fallen and little the compnay tries has helped.

    How doe the once world leader, in it's field, regain it's hitherto supremacy?



    The management, along with finacial pundits have misled customers, invetors and it' workforce time end time again.

    Caterpillar Q4 Sales Miss, Tumble 23%; Guidance Obliterated | Zero Hedge

    "Today, CAT confirmed the flow through from this depressed picture when it announced that not only did revenue tumble by 23% to $11 billion, but it missed already deeply cut estimates of $11.4 billion, leading to a 111% collapse in operating profit which from $1.1 billion turned into a $114 million loss in the quarter. To be sure, the company tried to pull an Alcoa and stuff massive restructuring charges in the quarter amounting to $689, boosting non-GAAP EPS by $0.89 to $0.74, however one can simply ignore this latest accounting fudge attempt. "

    The poster boy of the Ameristan market now appears to have it's own set of "problems".

    "
    0843ET - NYSE AMEX OPTIONS PROBING ISSUE ON MKT DATA UNDERLYING AAPL"

    The Market Breaks - Stocks Soar As NYSE Admits "Issues" With AAPL Data | Zero Hedge



    If AAPL goes so does the Ameristan dream, or so it should. But hey it's exceptional.

  11. #2911
    Thailand Expat Black Heart's Avatar
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    So, which is correct? The +150K jobs created or the -655K losses?

    What jobs? BLS says 665,000 job LOSSES


    By PAUL BEDARD (@SECRETSBEDARD) • 2/5/16 12:08 PM

    New Bureau of Labor Statistics shows that there were 665,000 jobs lost in January, a blunt finding that confuses the heralded report that 151,000 jobs were created in January in non-farm payrolls.[/B]

    What jobs? BLS says 665,000 job LOSSES | Washington Examiner

  12. #2912
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    ^ Did you read the report? It is confusing, opens up all sorts of tangents and splits the working population.

    Just one example:

    Analysts note that there are several ways to count jobs created and lost but the losses shown among men and women, foreign born and immigrants, is significant, said a congressional expert
    Foreign-born and immigrants? Do job applications actually mention one's birth-status?

  13. #2913
    Thailand Expat OhOh's Avatar
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    Quote Originally Posted by panama hat
    Foreign-born and immigrants? Do job applications actually mention one's birth-status?
    I suspect any claim for tax payer funded government "assistance", claimed after losing ones job, would request ones status. In the UK it is a standard question since many tax payer funded "assistance" laws, have now been amended, and limitations on said "assistance" to non permanent status UK residents.

    Of course it's so that the legal rights of some are being whittled away. Little by little, until they eventually come for you.

    I would suspect Ameritan is similar.

  14. #2914
    Thailand Expat OhOh's Avatar
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    Quote Originally Posted by Black Heart
    a blunt finding that confuses the heralded report that 151,000 jobs were created in January in non-farm payrolls.[/b]
    When 75% of the "created" jobs are minimum wage jobs does it really matter what there "status" is? Compared to the sectors birth rate it is still nagative.

    Don't forget this was at the Christmas/New Years Sales period employment boom which happens every year.

    70% Of Jobs Added In January Were Minimum Wage Waiters And Retail Workers | Zero Hedge

    "This is the full breakdown of January job gains:
    • Retail Trade: +58K
    • Leisure and Hospitality, which includes food workers: +44K
    • Professional and business service workers, excluding temp workers: +34K
    • Manufacturing workers posted a curious rebound, rising by +29K. We are confident this number will be revised promptly lower.
    • Construction +18K
    • Wholesale Trade: +9K
    • Education and Health saw a big and unexplained drop from 54K to 6K
    • Information services added just 1K workers"

  15. #2915
    Thailand Expat Black Heart's Avatar
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    A short piece by Mike Maloney, interesting charts.


  16. #2916
    Thailand Expat OhOh's Avatar
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    ^Probably.

  17. #2917
    Thailand Expat Black Heart's Avatar
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    Quote Originally Posted by OhOh View Post
    ^Probably.
    Please do, elucidate.

  18. #2918
    Thailand Expat OhOh's Avatar
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    Quote Originally Posted by Black Heart View Post
    Quote Originally Posted by OhOh View Post
    ^Probably.
    Please do, elucidate.
    It's a certainty.

  19. #2919
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    Quote Originally Posted by Black Heart
    A short piece by Mike Maloney, interesting charts.
    Quote Originally Posted by OhOh
    ^Probably.
    Quote Originally Posted by Black Heart
    Please do, elucidate.
    Quote Originally Posted by OhOh
    It's a certainty.
    Love it!

  20. #2920
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    Quote Originally Posted by david44 View Post
    UK Drs start on around $4ok Cubans on $4k
    USA Drs are bleeding the public to death aided by big Pharma and so called Health maintainance Insurance companies

    WHO states
    US, doctors are amongst the highest paid professionals in the workforce. And it is no wonder, considering the number of years it takes to become one and the ever rising costs of finishing a medical school. However, some may argue that they are too highly paid. But how do US doctors compare with practitioners from other countries, when it comes to paychecks.

    Following, we would like to present you with a list of the 16 highest paying countries for doctors. To keep things fair, we’ve compared how both general practitioners and specialists are paid in countries across the world. We have also taken into account the ratio per Capita GDP, which is an indicator that measures how doctors earn in comparison to the average income in their respective countries. The statistics used in the making of this countdown are taken from the International Labor Organization.

    e.g. back in Finland where in my experience of Oz Uk USA and France the best Drs Average yearly compensation (specialists): $67,000
    Ratio to per Capita GDP (specialists): 3.1
    Average yearly compensation (general practitioners): $60,000
    Ratio to per Capita GDP (general practitioners): 2.7

    So in expensive Norway dr earn c20% over GDP average
    Average yearly compensation (specialists): $77,000
    Ratio to per Capita GDP (specialists): 1.9
    Average yearly compensation (general practitioners): $69,000
    Ratio to per Capita GDP (general practitioners): 1.2

    Average yearly compensation (specialists): $230,000
    Ratio to per Capita GDP (specialists): 5.7
    Average yearly compensation (general practitioners): $161,000
    Ratio to per Capita GDP (general practitioners): 4.1


    Also note the big differential for specialists encouraging all to leave general practice where prevention occurs.

    Student loan could be solved by taxes to train Drs free and stop importing those trained at great expense by poorer nations,this crap is sold to folks by GOP and wealthy shareholders in industries that profit from disease and suffering
    So should I have felt guilty making $175K per year as a pharmacist director while pediatricians were averaging $125K? I don't think so.

  21. #2921
    Thailand Expat harrybarracuda's Avatar
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    Was this before or after you ran the successful pub in the ski resort?


  22. #2922
    Thailand Expat Black Heart's Avatar
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    it's worth posting again.

    China and Asia are declining (markets) the US is and will decline (markets) and a textbook definition of a recession will hit the US.

    Time to sit in cash and wait.



  23. #2923
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    Quote Originally Posted by harrybarracuda View Post
    Was this before or after you ran the successful pub in the ski resort?

    After.

  24. #2924
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    Quote Originally Posted by rickschoppers
    So should I have felt guilty making $175K per year as a pharmacist director while pediatricians were averaging $125K? I don't think so.
    Pharmacist Director of a hospital...? pharma company...? drug store...? Just curious.

  25. #2925
    Thailand Expat OhOh's Avatar
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    Quote Originally Posted by Black Heart
    a recession will hit the US.
    You're a little late. What evidence do you have of any "recovery" phase in the past 5 years, other than stock "prices"?

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