Census: Half of Americans Are Poor or Low-Income

[Richard Hakluyt]

a ten year payment plan on a boat?

I think what you're ignoring is to get to the point of a yacht you have several other expenses. house, private school, trophy wife. So while plausable to get the boat it's unlikely unless he's willing to give up quite a bit.

the cheapest part of owning a yacht is the cost to buy it

i promise that to be so

Yacht ownership has been compared to having an icy-cold shower whilst tearing up £20 notes 

[Valmy]

Swimming pools fall into that category for me, too - just seems like something that causes endless hassle and expense, for the very occasonal use.

Especially in Canada.  At least in the 51 weeks of winter it doubles as an ice rink.

[Valmy]

I'm really sorry I off-handedly mentioned a fucking yacht.

Yeah I don't think I am ever going to get that discussion going as to why decreasing labor costs are not increasing employment

[Rasputin]

a ten year payment plan on a boat?

I think what you're ignoring is to get to the point of a yacht you have several other expenses. house, private school, trophy wife. So while plausable to get the boat it's unlikely unless he's willing to give up quite a bit.

the cheapest part of owning a yacht is the cost to buy it

i promise that to be so

Boat is an acronym of Bust Out Another Thousand. and that's fro cheap pleasure craft

that's just to fill the tanks

add in dockage, insurance, engine services, generator services, sattelite radio and tv bills, hull waxing, etc,  and you are looking at 20,000 per year on an inexpensive yacht

then once you hit 50 feet you're looking at crew expenses and the price increases exponentially

[Malthus]

I'm really sorry I off-handedly mentioned a fucking yacht.

The fucking ones cost extra.

[Richard Hakluyt]

I'm really sorry I off-handedly mentioned a fucking yacht.

The fucking ones cost extra.

Rasputin can vouch for that 

[Ideologue]

I'm really sorry I off-handedly mentioned a fucking yacht.

Yeah I don't think I am ever going to get that discussion going as to why decreasing labor costs are not increasing employment

To hazard a completely out-of-my-ass guess, I'd say the shift to a service economy.  In a more industrial economy, decreased wages would lead to cheaper goods, and greater demand.  And to a degree, since service sector wages are in part reflected in prices, that may be true.  However, when the manufacturing costs of the goods we purchase don't fall, and therefore prices do not fall to the same degree as wages, demand does not rise to stabilize the fall in wages.

Could be totally full of shit.

[Sheilbh]

I'm really sorry I off-handedly mentioned a fucking yacht.

Yeah I don't think I am ever going to get that discussion going as to why decreasing labor costs are not increasing employment

I don't know that there's the demand, or that businesses are sure there will be the demand in the future (which is more important).  The Eurozone's on a knife-edge, India's falling, China's got even more fearful rumours than normal.  It's still too uncertain a time.

Again the best hope is the American consumer.  There's positive signs there and, from what I've read, the last few jobs reports are on the up.

[Monoriu]

I'm really sorry I off-handedly mentioned a fucking yacht.

Yeah I don't think I am ever going to get that discussion going as to why decreasing labor costs are not increasing employment

To hazard a completely out-of-my-ass guess, I'd say the shift to a service economy.  In a more industrial economy, decreased wages would lead to cheaper goods, and greater demand.  And to a degree, since service sector wages are in part reflected in prices, that may be true.  However, when the manufacturing costs of the goods we purchase don't fall, and therefore prices do not fall to the same degree as wages, demand does not rise to stabilize the fall in wages.

Could be totally full of shit.

My guess.  Your labout costs maybe decreasing, but it is still expensive relative to China or automation.  Actually, the relatively good US employment figures in the past decade or so were fueled by the housing bubble.  Now that the bubble is gone, employment just reverted back to its natural state. 

[PDH]

that's just to fill the tanks

add in dockage, insurance, engine services, generator services, sattelite radio and tv bills, hull waxing, etc,  and you are looking at 20,000 per year on an inexpensive yacht

then once you hit 50 feet you're looking at crew expenses and the price increases exponentially

My grandfather docked at the St Francis Yacht Club in San Francisco, took his 68 foot ketch out every weekend in the winter - long cruises in the Spring and Summer, and always had at least 1 full time boat guy to do the brightwork, sails, engine work, etc.

He loved sailing, and thankfully he had the funds to do it, but damn it can get costly.

[mongers]

I'm really sorry I off-handedly mentioned a fucking yacht.

Yeah I don't think I am ever going to get that discussion going as to why decreasing labor costs are not increasing employment

I don't know that there's the demand, or that businesses are sure there will be the demand in the future (which is more important).  The Eurozone's on a knife-edge, India's falling, China's got even more fearful rumours than normal.  It's still too uncertain a time.

Again the best hope is the American consumer.  There's positive signs there and, from what I've read, the last few jobs reports are on the up.

This is one of my major concerns where is the consumer growth that is required for the markets to sustain their current levels; if total world demand is going to all but flatline for a few years then how is market bubble going to be sustained, within which financial players, both large and tiny, expect to be able to make a percent or two per month ?   :unsure


PS Shelf, did you get my email/PM ?

[The Minsky Moment]

Yeah I don't think I am ever going to get that discussion going as to why decreasing labor costs are not increasing employment

it's a really good question and I have yet to hear a totally convincing answer.
Given that firm balance sheets have improved and profits remain pretty decent, this would be a logical time for firms to react by hiring labor and competing for extra market share.  It's not happening.

[Sheilbh]

it's a really good question and I have yet to hear a totally convincing answer.

What are the major theories?

[Sheilbh]

PS Shelf, did you get my email/PM ?

No

Which is odd.  Try the PM again and hopefully it'll get through.

[Admiral Yi]

What are the major theories?

Greed and uncertainty.