Who's making money these days?

[igneousy2]

Major airline pilots make much less these days. That's stating the obvious. Doctors, at least GP's, the average lawyer, engineers, and so on also make less in general. The middle class lifestyle afforded by our parents is very much out of reach for our generation, even with a college degree. So the question is, who is making the same or more than the old days? I know there are pockets of prosperity here and there, but in general it seems everyone has it worse, which is not a good thing, especially for pilots. CEO's don't count, we all know how out of whack that situation is. Discuss.

The occupiers are occupying the wrong street.

I fear we are going to have to go over the cliff before mainstream gets the message that the government CANNOT save you.

The government has caused all of these problems...it is well established by real economist....note...real economist do not appear on FOX/CNN or write columns for the New York Times.

Why is the middle class failing and the rich geting richer....that's very simple...the rich have majority of their wealth in performing Assets...the middle class and below have all/most of their assets in cash, depreciating Assets, or government subsidized Assets. If the value of cash is depreciating over time then someone with 100% or nearly 100% of their wealth in cash is going to get poorer. If cash/near cash is only 10% of your wealth and the value of performing assets (Subway sanchwich shops, factories, retail stores, etc.) keeps up with inflation (as assets generally do) then you will get richer relative to the middle class.

Additionally, the middle class americans have most of their assets in depreciating things (cars-probably on credit to...35,000 for an asset worth 30,000 that goes down by double digit percentages a year) and homes that were purchased at too high prices because of government subsidies...so for a middle class american the value of their cars are falling, the value of their homes are being artificially propped up by the federal government that is less and less able to afford to keep the music going, and the rest (the cash) is being diminished by the federal government because they keep printing more and more money.

Why? There is no mystery and it has nothing to do with Wall Street.

 

[Rick James]

Well said-
Good question-
Get involved, make your voice heard, call congress, call your senators, bring rationality to Occupy-
I'm sure occupy is as disorganized as it seems- means a lot to a lot of different people-
For me- mortgage backed securities/derivatives/ record bonuses/ airline exec absurdity/
It's been a war on the middle class for 30 years and we should recognize it- and get in the fight-
Our economic structure is devolving into what it's always been in the unregulated history of humanity- oligarchy, then monarchy/feudalism- how far do we let it go and just make fun of the more ridiculous occupiers-
I really don't care if the lazy starve- but when hard working solid professionals go bankrupt bc the deck is stacked against them in an unfair playing field??
That's a problem worth protesting-

While I can anticipate your biased posts, I mostly agree with what you say here. Unfortunately, there is no solution to the problem we are facing short of a ctrl-alt-delete of our society. Calling Senators, writing letters, "getting involved", all sound nice but will accomplish nothing as change will only come by getting rid of the people that make the rules. The people that make the rules are loyal to power and money, and unfortunately we don't have either. The only people they are afraid of are those that have nothing to lose, i.e. the people receiving handouts. Once again, we aren't those people. We are all in a losing battle and my pessimistic mind can't fathom a solution.

 

[The Prussian]

We all need to relax, it will all be OK. Just forget about that large home...it'll just cost more in taxes. They have it right in Europe...get a flat. It's not worth it to chase "the dream". :cartman:

 

[dragontamer]

Sure there are folks doing well. Folks that are government connected. 7 of the top 10 highest earning counties not surprisingly are bordering Washington DC. Good wages, pensions, outstanding benefits. All on your dime! If you want to do well, get in tight with the Government.

 

[check six]

A few comments on the situation in the US:

1. MBA's in corporate officer positions will always be paid well and better than pilots. Their job is to minimize costs (like labor) and maximize revenue. To them, a pilot is just a labor cost as part of their overall game. So they just keep driving down labor costs. ALPA is tough but they beat ALPA by subcontracting all their domestic routes to the regionals. AA beat ALPA by filing for bankruptcy protection.

2. Engineers can make a decent living all the way to whatever they want (Steve Jobs- although he was not a degreed engineer but did well anyway). BTW, I am an engineer and have made good money. I have flown airplanes over the years because it is fun. Flew light aircraft up to corporate jets.

3. Doctors can make $100K to $500K per year but the high end guys work all the time. Not worth it in my mind.

4. Investors like Warren Buffet and George Soros make huge money because of their investing acumen. George Soros was a jewish immigrant from eastern europe and said that capitalism has its flaws. According to Soros, one flaw is that those like him can make large sums of money because of their skill but that is not necessarily good for the society as a whole.

Making money in the stock market is a good way to go. Once you study markets long enough it is not hard to figure out where to put your money. Plus with online trading, you can get in and out quick.

At the end of the day, whatever you do you have to be good at it and like what you are doing. MBA's put up with politics all day long. Engineers like Jobs have to love what they are doing to make big money. Doctors have to love what they are doing to be on call all the time. Pilot job is extremely satisfying and fun but you have to put up with company fortunes and keeping your medical.

Check Six

 

[IBNAV8R]

Seems we've lost track of what's really important.

Health
Family
Friends

As I see it, the ones who measure happiness in dollars (compared to others) are never happy.

 

[Flyby1206]

Politicians, Lobbyists, Lawyers, Hedge Fund Managers

 

[Smarta$$]

Sure there are folks doing well. Folks that are government connected. 7 of the top 10 highest earning counties not surprisingly are bordering Washington DC. Good wages, pensions, outstanding benefits. All on your dime! If you want to do well, get in tight with the Government.

Those are also lobbyists and corporate lawyers chief.

 

[Smarta$$]

The occupiers are occupying the wrong street.

I fear we are going to have to go over the cliff before mainstream gets the message that the government CANNOT save you.

The government has caused all of these problems...it is well established by real economist....note...real economist do not appear on FOX/CNN or write columns for the New York Times.

Why is the middle class failing and the rich geting richer....that's very simple...the rich have majority of their wealth in performing Assets...the middle class and below have all/most of their assets in cash, depreciating Assets, or government subsidized Assets. If the value of cash is depreciating over time then someone with 100% or nearly 100% of their wealth in cash is going to get poorer. If cash/near cash is only 10% of your wealth and the value of performing assets (Subway sanchwich shops, factories, retail stores, etc.) keeps up with inflation (as assets generally do) then you will get richer relative to the middle class.

Additionally, the middle class americans have most of their assets in depreciating things (cars-probably on credit to...35,000 for an asset worth 30,000 that goes down by double digit percentages a year) and homes that were purchased at too high prices because of government subsidies...so for a middle class american the value of their cars are falling, the value of their homes are being artificially propped up by the federal government that is less and less able to afford to keep the music going, and the rest (the cash) is being diminished by the federal government because they keep printing more and more money.

Why? There is no mystery and it has nothing to do with Wall Street.

Your F-ing delusional or blindly partisan if you think Wall Street had nothing to do with this country's problems. W stated from the beginning that Wall Street got drunk, and that it was largely to blame for the meltdown(and the run up).

 

[pilotyip]

Major airline pilots make much less these days. That's stating the obvious. Doctors, at least GP's, the average lawyer, engineers, and so on also make less in general. The middle class lifestyle afforded by our parents is very much out of reach for our generation, even with a college degree. So the question is, who is making the same or more than the old days? I know there are pockets of prosperity here and there, but in general it seems everyone has it worse, which is not a good thing, especially for pilots. CEO's don't count, we all know how out of whack that situation is. Discuss.

What is middle class lifestyle? When your were commenting about the demise of the middle class, I ask what defines middle class, is it houses, cars, good schools. Do we define middle class by income level. What is middle class income? is it 46K, 50 percentile, is it 75K, 70 percentile, is in 90K, 80 percentile, is it 110K 90 percentile, what is middle income? I never get an answer; so please define it so so we can all know what middle class is. Most pilots make a good living compared to the rest of the individuals in this country

BTW I thought I was middle class growing up in 1950 in a 800 sq ft house, like everyone on our block, 5 kids in a two bedroom house, one car, party line phone, a stay home mom, and we only ate out when grandma came to visit.

A few comments on the situation in the US:

1. MBA's
2. Engineers
3. Doctors
4. Investors

Making money in the stock market is a good way to go. Once you study markets long enough it is not hard to figure out where to put your money. Plus with online trading, you can get in and out quick.

At the end of the day, whatever you do you have to be good at it and like what you are doing. MBA's put up with politics all day long. Engineers like Jobs have to love what they are doing to make big money. Doctors have to love what they are doing to be on call all the time. Pilot job is extremely satisfying and fun but you have to put up with company fortunes and keeping your medical.

Check Six

Well said, nice touch of reality in a "it is not fair world"