Today's stock market decline is brought to you by the "inverted yield curve"

[Massdriver]

The models they're looking at are probably projecting a need for a rate hike because of the "tight" labor market which should mean wage inflation is right around the corner. The argument is small rate hikes now means that they don't have to do more drastic moves in the future when inflation heats up quicker than they can control with small movements. Of course that's what the models have been predicting for years. I would pump the brakes if I were them. 

[Commissar SFLUFAN]

12 minutes ago, Massdriver said:

The models they're looking at are probably projecting a need for a rate hike because of the "tight" labor market which should mean wage inflation is right around the corner.

The labor market could absolutely use a bit of wage inflation and the overall effect on the economy would be negligible.  The Fed needs to look beyond their models towards the economy at large where -- barring a catastrophic geopolitical event -- there are no inflationary pressures on the horizon while deflationary pressures are a very real possibility.

[PaladinSolo]

Guys, I'm starting to think there is a disconnect between Wall Street and the rest of us

 

.

[Greatoneshere]

5 minutes ago, PaladinSolo said:

Guys, I'm starting to think there is a disconnect between Wall Street and the rest of us

 

.

 

No surprise that Wall Street, a place where math is a key skill to have when handling money, has no math skills. 2008 crash explained. 

[johnny]

12 minutes ago, PaladinSolo said:

Guys, I'm starting to think there is a disconnect between Wall Street and the rest of us

 

.

What a pointless article 

[Joe]

33 minutes ago, PaladinSolo said:

Guys, I'm starting to think there is a disconnect between Wall Street and the rest of us

 

.

 

Where the fuck does this generous asshole live where he can afford to donate that much money and have a rent of less than $1,000? Internet $20. Fuck outta here.

[Jason]

1 minute ago, Jose said:

Where the fuck does this generous asshole live where he can afford to save $0 money and have a rent of less than $1,000? Internet $20. Fuck outta here.

 

I like that for transportation expenses, they picked the cost of a 30 day Metrocard.

[Greatoneshere]

That pie chart might as well just be an image of a middle finger with the headline "FUCK YOU PROLS" plastered over it with a quote that says: "let them eat pie". So out of touch. 

[Jason]

19 minutes ago, Greatoneshere said:

That pie chart might as well just be an image of a middle finger with the headline "FUCK YOU PROLS" plastered over it with a quote that says: "let them eat pie". So out of touch. 

 

And then if we ate the pie they'd run an article about how millennials waste all our money on pie. 

[Amazatron]

 

[Jason]

Speaking of out of touch...

 

 

[b_m_b_m_b_m]

25 minutes ago, Jason said:

Speaking of out of touch...

 

 

"Merry Christmas honey! Here's a purchase worth tens of thousands of dollars that I didn't consult you on! Do you like the color?"

[Commissar SFLUFAN]

9 minutes ago, b_m_b_m_b_m said:

"Merry Christmas honey! Here's a purchase worth tens of thousands of dollars that I didn't consult you on! Do you like the color?"

That's ALWAYS been my reaction to those inane commercials.

[GoldenTongue]

Is there something I’m missing?

 

The article does not try to argue that his example is the norm - he’s actually quoted as saying that his case is unique. 

 

The numbers don’t really seem terribly off, if he actually has four roommates. 

 

Not sure where the criticism is coming from - the guy knows he’s lucky enough to have a niche skill, coupled with an understanding of how to monetize it. I’m a little curious on how he’s actually doing, since there are all kinds of gaps in the accounting from what little the article shares, but aside from wondering what makes this story worth writing, I don’t know where some of the scoffs are coming from. 

 

$100k/yr in the northeast isn’t big money, especially if he’s really the independent contractor the article presents him to be. 

[PaladinSolo]

On 12/21/2018 at 11:40 PM, GoldenTongue said:

Is there something I’m missing?

 

The article does not try to argue that his example is the norm - he’s actually quoted as saying that his case is unique. 

 

The numbers don’t really seem terribly off, if he actually has four roommates. 

 

Not sure where the criticism is coming from - the guy knows he’s lucky enough to have a niche skill, coupled with an understanding of how to monetize it. I’m a little curious on how he’s actually doing, since there are all kinds of gaps in the accounting from what little the article shares, but aside from wondering what makes this story worth writing, I don’t know where some of the scoffs are coming from. 

 

$100k/yr in the northeast isn’t big money, especially if he’s really the independent contractor the article presents him to be. 

Never going to understand why people think 100k isn't a lot in the northeast, lol. NYC isn't the only part of it,and even still average household income is below 70k in the northeast. 

[Greatoneshere]

On 12/21/2018 at 11:40 PM, GoldenTongue said:

Is there something I’m missing?

 

The article does not try to argue that his example is the norm - he’s actually quoted as saying that his case is unique. 

 

The numbers don’t really seem terribly off, if he actually has four roommates. 

 

Not sure where the criticism is coming from - the guy knows he’s lucky enough to have a niche skill, coupled with an understanding of how to monetize it. I’m a little curious on how he’s actually doing, since there are all kinds of gaps in the accounting from what little the article shares, but aside from wondering what makes this story worth writing, I don’t know where some of the scoffs are coming from. 

 

$100k/yr in the northeast isn’t big money, especially if he’s really the independent contractor the article presents him to be. 

 $100,000 is a lot of money in the North East, where did you get the sense that isn't a lot of money almost anywhere? The scoffs are coming from the fact that his situation is highly unique and not at all close to representative of the average millenial and the article tries to pass it off as such, is my guess. 

[Joe]

15 minutes ago, Greatoneshere said:

 $100,000 is a lot of money in the North East, where did you get the sense that isn't a lot of money almost anywhere? The scoffs are coming from the fact that his situation is highly unique and not at all close to representative of the average millenial and the article tries to pass it off as such, is my guess. 

 

100k is not a lot of money in the tri-state area. It's middle-class.

[Greatoneshere]

8 minutes ago, Jose said:

 

100k is not a lot of money in the tri-state area. It's middle-class.

Amongst millenials? I don't think so, but if you've got links to evidence of that I'd be open to it. 

[Joe]

I mean I live here, so I can tell you from experience.

[Amazatron]

Nice half day massacre today, thank you Donald and Mnuchin!

[b_m_b_m_b_m]

$100k is middle to upper middle class everywhere in the country. It's not such an unfathomable amount of money that it makes you wealthy, but it will give you a comfortable life if you live within your means virtually everywhere

[Amazatron]

7 minutes ago, b_m_b_m_b_m said:

$100k is middle to upper middle class everywhere in the country. It's not such an unfathomable amount of money that it makes you wealthy, but it will give you a comfortable life if you live within your means virtually everywhere

 

Almost everywhere, under $130,000 is considered poverty level here in the Bay Area.

[Joestradamus]

7 minutes ago, Amazatron said:

 

Almost everywhere, under $130,000 is considered poverty level here in the Bay Area.

So, my wife and I are combined to be just above poverty level. Wow.

[Jason]

 

[SaysWho?]

33 minutes ago, Amazatron said:

 

Almost everywhere, under $130,000 is considered poverty level here in the Bay Area.

 

26 minutes ago, Joestradamus said:

So, my wife and I are combined to be just above poverty level. Wow.

 

I feel there may be more to it than that?

 

"In San Francisco and nearby San Mateo and Marin Counties it said $117,400 for a family of four was "low income", while $73,300 (£54,900) was "very low income" - the highest figures anywhere in the country."

 

That's for a family of four, which is still stunning. But it seems like if you and your wife make that much by yourselves (dunno what your children situation is), or if you're one person with a six-figure income, you're above the low income line. Someone can elaborate on this, though, because a lot of figures I see represent "family of four" but I sometimes have a hard time finding what low income is for just one person.

[Joestradamus]

It's rather subjective I suppose? Both my wife and I work full time, we're above that "poverty" level. We joke that we're poor as fuck but we manage to put about $1500 away per month into savings, no kids and live/eat comfortably while living in Fremont, which isn't necessarily expensive but isn't cheap either. I'm sure once we do have kids we will feel like we're at poverty level with the added costs they bring along.

 

It's still crazy to think that an income of that level is considered "poverty" or "low income" when in many places you'd be living like royalty.

[Jason]

[Jason]

 

[b_m_b_m_b_m]

 

[Jason]

16 minutes ago, b_m_b_m_b_m said:

 

 

Trump is probably extra pissy because staying in Washington cuts into the profits he can make from charging the Secret Service for rooms and golf carts. 

[Jason]

 

[Signifyin(g)Monkey]

On 12/19/2018 at 6:11 PM, Massdriver said:

The models they're looking at are probably projecting a need for a rate hike because of the "tight" labor market which should mean wage inflation is right around the corner. The argument is small rate hikes now means that they don't have to do more drastic moves in the future when inflation heats up quicker than they can control with small movements. Of course that's what the models have been predicting for years. I would pump the brakes if I were them. 

It could also be that they believe there’s a recession coming soon no matter what they do, and they figure it would be best to have room to cut rates when it comes.

[Jason]

 

[GoldenTongue]

On 12/24/2018 at 10:53 AM, Greatoneshere said:

 $100,000 is a lot of money in the North East, where did you get the sense that isn't a lot of money almost anywhere? The scoffs are coming from the fact that his situation is highly unique and not at all close to representative of the average millenial and the article tries to pass it off as such, is my guess. 

There are select areas in which $100k is “plenty”.

 

But a family of 3-4 in NYC, Boston, Philly, and/ or several other areas is not going to be in a position to pay regular bills, save for kids education, save for retirement, and service a mortgage on $100k/yr. 

[b_m_b_m_b_m]