Lowering of expectations

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Ria Rhodes
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Lowering of expectations

Post by Ria Rhodes »

Real changes ahead, and not just in the short term. If you don't have your "living without working" nut now - look out. Buy and hold is fine if you've got a forever ahead time horizon, otherwise prepare to compromise your lifestyle. My economics professor friend is worried about America's labor force in the future, as even graduate degrees are little protection from a future of lower standard of living. The numbers of foreign professionals working for less is huge and the trend is growing.
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ken250
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Post by ken250 »

Thank you Ignatz.
livesoft
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Post by livesoft »

Yep, especially if you are an economics professor.
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Dale_G
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Post by Dale_G »

On the other hand ....

These economic professors are right about 37.023% of the time.

Dale
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Ria Rhodes
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Post by Ria Rhodes »

You're welcome ken250. You quote Tom Waits. I use to run into him in Cotati when I lived near there. With an avatar like that, you might know Spy vs Spy? The father of a good friend of mine drew that strip, and now she's singing in Berlin for Deutsch Marks. Over 'n' out.
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nisiprius
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Re: Lowering of expectations

Post by nisiprius »

Ria Rhodes wrote:Real changes ahead, and not just in the short term. If you don't have your "living without working" nut now - look out. Buy and hold is fine if you've got a forever ahead time horizon, otherwise prepare to compromise your lifestyle. My economics professor friend is worried about America's labor force in the future, as even graduate degrees are little protection from a future of lower standard of living.
A lower standard of living? Oh, the horror!

My standard of living, by any sensible measures of "living"--you know, strength, health, memory, intelligence, continence, etc.--is going to decline over the next three decades even if my income doesn't.
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.
waitforit
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Post by waitforit »

LOL @ continence :)
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Adrian Nenu
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Post by Adrian Nenu »

Real changes ahead, and not just in the short term. If you don't have your "living without working" nut now - look out. Buy and hold is fine if you've got a forever ahead time horizon, otherwise prepare to compromise your lifestyle. My economics professor friend is worried about America's labor force in the future, as even graduate degrees are little protection from a future of lower standard of living. The numbers of foreign professionals working for less is huge and the trend is growing.
- then it might be a good time to consider a career as a plumber, auto mechanic, AC repair tech, RN/medical, law enforcement, firefighter, paramedic, etc. They might not make $100k/yr but their jobs will not be exported to China or India either. Plenty of stable and good paying jobs out there for such professionals.

Adrian
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PatrickS
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Re: Lowering of expectations

Post by PatrickS »

Ria Rhodes wrote:The numbers of foreign professionals working for less is huge and the trend is growing.
I interview and hire these people all the time (electronic engineers with RF integrated circuit concentrations). I'd say 75% or more of our new hires are either Indian or Chinese immigrants. We don't pay them any less than we pay citizens. We hire them because our culture is not producing enough people willing to put in the effort to get an engineering degree. Why work so hard to become a nerd when you can draw comic strips and sing in Berlin after partying your way through a liberal arts degree?

As for the the downward slide of the markets- Better to buy on sale than at a premium :D
gkaplan
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Post by gkaplan »

I know quite a few liberal arts majors, and I doubt that they did any more partying than engineering majors.
Gordon
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ElJay
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Post by ElJay »

The current system has started a catch-22 situation because there are few jobs available between the lowly paid/unpaid student intern and the mid-career/supervisory positions. This may not be the case in all professions, but it's certainly how my job hunting experience felt when trying to find an entry-level position in the software industry.
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