Discuss and talk about any general topic.
With the US economy that is so terrible, its down the drain, the job market in a lot of places in USA is tough and competitive. Yet some cities are tougher then others to find a job. Here is the link-
http://www.usnews.com/news/slideshows/1 ... ind-a-job/
Good news for some cities in the east coast like NYC(about 2 people per job posting) , Boston, Houston (hear texas is booming with business), DC, hartford in finding a job. What makes it easy is cuz of their diversified economy from PR to IT which gives more options, esp for young people.
Bad news is places like Phoenix, Las Vegas, Orlando, detroit, these economies are less diversified and more focused or heavily focused on one area. Smaller market as well which when the economy tanks, these do get hit hard pretty fast.
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Not to mention just got into some mindless debate with my irish roommate about how he thinks NYC is the most competitive in USA. While that may be true, I believe that the job market competitive in other cities in USA as well. Esp I believe there are others that are more tougher or competitive then NYC given the nature of the market and economy.
Either way, I'd say that having a "good" paying job or one we want is hard to come by these days regardless where.
NYC is the LAST place in the USA I'd ever choose to live. Too many people, politics suck, the least freedom of any US State and the cost of living is too high.
Texas has been doing well for some time now it seems. I've toyed with the idea of moving there for awhile if current plans don't work out.
Las Vegas is definitely dependent on the US Economy. It used to be that they could pull in Asians to gamble, but Macau and Singapore have taken that away now. Las Vegas is dependent on nightlife, hotels, conventions, etc. now. I remember very well what 2008 did to Las Vegas. I remember standing behind the bar all day while sometimes only serving 1-2 customers per day. Most of my fellow employees lost their houses and/or went bankrupt. I just got back from Las Vegas and it's as busy as ever right now. There is a lot of money being made right now in that city. However, it just takes a downturn to knock it to it's knees...again. Next time IMO, it will be worse that 2008...much worse.
Don't live in NYC. I grew up there. It's too cold, very competitive, and hard to find jobs. You also have a lot of Jews in the area so there is a lot of entitlement (not saying that there isn't entitlement in the rest of the country though). Only good thing is that there are a lot of travelers (girls) that are relatively easy to hookup with. Also, have you ever seen the streets in NYC? Looks like shit lol.
I currently live in California. Nice weather and laid back atmosphere, but COL is way too high and it's a liberal state. So they support a lot of stupid bullshit.
Personally, I would move to Texas as well. I've heard that there are a lot of jobs there, no state income tax, and it's a conservative state. While I don't particularly care for politics and don't really pay much attention to politics, I do pay attention to economics. In that sense, Republicans (ie: conservatives....ie capitalists) make much more sense than Democrats (ie: liberals.....ie communists).
If I were to stay in the US, I would try to move to Texas.
Anywhere is hard to find jobs in this US economy. Except for Texas I suppose. It is true as friends say that Texas economy is stable, if not growing steadily compared to many other US states.
For me, while I do not care about politics neither, I'd like to be in a place full of social opportunities and economic opportunities. NYC would have a lot of social opportunities at least ie Nightclubs to different shops to different cultural areas. Economic opp may not be great there but at least the market is bigger there so more variety to choose from. I do thrive on opportunity, esp social opportunities to go out a lot.
Also convenience is something I'd value which isn't something I'd get in Texas or some parts of CA. Things like efficient transport, shops, places open all the time and what not. Also unlike Texas, even tho density is small there, the big density in NYC plus how close yet easily accessible things are make it into some interesting mixture. TX and these places feel so spread out, easy to feel isolated and separated by car.
NYC is an island disaster waiting to happen. "Stop and Frisk" being accepted there is just one example of how messed up that state is. You have the least amount of freedom, the least amount of privacy and the greatest violation of rights (including the right to protect yourself and family). If you believe that there will be an economic collapse in the future, you'd best steer clear of NYC. I predict an absolute bloodbath when SHTF, can't think of a worse place to be. Think about it...how can one possibly prepare for something like that in a city like NYC? I think that a small town on the west coast would likely be the best place to be if staying in the USA. At least you'd be able to prepare somewhat and have the right to protect yourself. If a job is your greatest concern, then Texas is probably your best option right now. I still think moving abroad is the best option (for many reasons), but why move to the worst state in the Union? If you want big density, look into the big cities abroad that have excellent public transport. Public transport is very common abroad. I was amazed at how great it was in Singapore, Hong Kong and even Bangkok.
+1. Living in any of the major population centers in the US during SHTF and you are asking for a death wish. Stay out of NYC at all costs; its a liberal fascist nightmare. Martial law will render a bug out impossible if you don't get out ahead of time as they will contain the civil unrest and quarantine the pandemic resulting from infrastructure decay. Every major egress there (bridges, highways AND tunnels) will be jammed with traffic and shut down. The oppressive gun laws make it difficult to own weapons so by bugging in you are a sitting duck. Whatever you do have in the form of weapons would be confiscated New Orleans Hurricane Katrina style. It is an urban center that will make survival untenable. At least in Texas you have a better odds of both weathering or escaping a SHTF. 268,000 square miles of state with huge rural pockets for homesteading are better odds than an small mile sized island with 10million+ people too.
If you want to be living pay check to pay check for the rest of our life, then continue looking for a "job" like most of the population.
Those who become businessmen and investors will thrive in this economy.
"Allow me to show you the Power Cosmic!" - Silver Surfer
Dude...wake up. This country is in deep shit and a deliberate destruction is taking place. Our manufacturing base is gone. What economy? The American economy has been reduced to nothing more than a speculative one...money making money off of money. That's basically all of Wall Street and Forex trading. And invest in what? Since 2008, trillions have been lost in American wealth, people's savings have been depleted unto no fault of their own by just trying to keep up with the insane COL and job loss. As a result, many people cannot "invest" nor become "businessmen" because the one thing that is needed for those things has been stripped away -- CAPITAL. More and more people everyday in this country continue to rely on the consumer debt hamster wheel to finance both the necessities of life as well as the rampant excessive consumerism culture that has infected America. Credit markets will dry up, and the trends show how much more difficult it is to obtain a loan even for entrepreneurial ventures. People will be broke, and saddled with debt. Most are already like this...financial slaves. Couple that with little or no capital on hand, becoming an entrepreneur or investing is prohibitive for most. While we did see a slight recovery of the "Real Economy" that was predicated on household disposable income and not consumer debt financing, the next wave of QE (quantitative easing) by the Fed will destroy that.
There is no doubt. Here in America, the rich are getting richer, poor are getting poorer. All because of the cumbersome tax code, the IRS, and the tax incentives, laws and loopholes which favor the wealthy, big corporations and those who are business saavy and politically connected (aka being in the pockets of local politicians). And guess what? They don't have tax liability. Average Americans who do manage to invest are punished with Capital gains tax because they don't have the writeoffs that a multi-million dollar company or someone like Warren Buffett has. Because of their connections to the asswipe lobbyists, and corrupt politicians who are supposedly entrusted to make laws fair for all, the rich get these bennies that are not accessible to the average American. So at the end of the day, who's left holding the bag for the 17 trillion dollar deficit, and to fund Obamacare, the Welfare state and the massive bloated Federal bureaucracy? Middle class, the working man, the poor.
Yes, I agree. By looking for a "job" as you put it, you are a perpetual slave to the corporate machine. America is not the place to be investing in. Come 2014, I am likely renouncing my US citizenship and possibly moving to the inland (not coastal) part of Uruguay. My research of that nation shows many Pros over Cons for me in relocating there.
Everyone in America has access to unlimited resources to improve their lives financially.
If you live in America, you have 2 choices, either to be part of the rich or be part of the poor, since the middle class is disappearing.
Real estate investing stays strong in bad and good markets, especially in bad markets.
Putting your trust in capital gains is not wise in this economy.
The good ole days of stocks, bonds and mutual funds are over.
Invest for CASH FLOW which will sustain you in good and bad markets, which is how you should invest in real estate.
Use other peoples' money to invest in real estate.
Invest in silver and gold because all fiat currency around the world will eventually collapse and gold and silver will increase in price as we near hyperinflation.
The rich have figured it out and most of them are doing just fine in this market.
Either adapt in this economy or you're toast no matter how unfair the system might be.
Keep in mind that the collapse will happen world wide, no matter where you live.
Because no currency in the world is backed by anything and will come to its true value of zero like all fiat currency has done throughout history.
Last edited by SilverEnergy on Fri Nov 15, 2013 4:38 am, edited 1 time in total.
"Allow me to show you the Power Cosmic!" - Silver Surfer
Well, I think the idea here should be to think small: reduce expenses as much as possible, then after adapting, move to a place that already has a small cost of living. One can then either make their own jobs (working for yourself from home/online) or get some easy job for foreigners (ESL teaching or whatever else.) Be realistic though in that very few are ever going to be well-off. Now it is a matter of survival first and then living a modest life afterwards if you can. I'm not saying to discount your dreams, but the game in the West is rigged and the clock is ticking. No need to worry about making a million when you can have thousands of happy days ahead of you that won't involve much money.
A helpful guide:
Expatriation Apocalypse! The Guide to Expatriation for the Broke and Hopeless (Kindle)
Expatriation Apocalypse! (Paperback)
A return to the Middle Ages of Feudalism? No thanks. I'll bail out abroad before I become part of Mexico 2.0
Real estate has no intrinsic value past its raw land + construction costs. The only reason it has the value it does is because it is pegged to the boom-bust cycles of fiat currency. It's all about where the market (buyers/sellers) says its worth.
Agreed. However was making an illustrative point about how this is one of the reasons why the US is experiencing stagflation -- the excessive taxation on investment that is driving away businesses.
Ah yes, good ol' OPM = DEBT. Rehashed and vapid academic garbage by your garden variety broke finance professor. Debt is not a tool used by the wealthy to created prosperity unlike what we are led to believe. Debt brings on enough risk to offset any advantage that could be gained through leverage of debt in the long term.
House of cards, and my point made right above here confirms this.
I agree 110%. And have already done that. More people need to be doing this to protect their purchasing power and savings.
What point are you trying to make here? I'm sorry to say but you sound like one of those typical brainwashed hyped up, starry eyed people that attend weekend Real Estate Donald Trump style seminar classes. Sure! The American rich are doing just fine. They can afford to continue to stick their head in the sand while the world around them goes to shit. Most are self-involved, self-preserving opportunist blueblood snobby assholes who don't give a f**k about humanity or their fellow man. They have all they money in the world, what they are after is power and power over. That's their aphrodisiac.
I don't wish to play the game and sacrifice my ethics, principles and moral compass in what can become a Mad Max world. I've voted with my feet. America is a hellhole thru and thru and I'm getting the f**k out of here.
Well aware of this. Thanks for stating the obvious. One can only improve their chances of riding a collapse by strategically relocating and preparing accordingly.
You contradicted yourself. Real estate, being that its pegged to a fiat currency will lose its value as well. The wealthy can enjoy holding onto their precious, worthless buildings and McMansions after SHTF, and they've been looted by marauders, gangs and thugs.
Successful real estate investors understand this important concept: the unwritten rule about using other peoples' money to invest in real estate and to get your tenants to pay the mortgage while you enjoy a monthly cash flow.
Most successful real estate investors that I've heard speak and who make millions speak of this.
You're thinking in terms of buying and selling high in real estate, I'm talking about cash flow.
A real wise investor understands the concept of good debt.
But you can do this overseas as well. Investing in foreign real estate for CASH FLOW.
I'm not saying that you shouldn't go to better pastures overseas, all I'm saying is that it's not all doom, gloom and hopeless in America like many of you say.
There's much money that can be made in America.
You have to know how to play the system.
If you know how to play the game in America, you can make your money in America and THEN travel overseas.
Many do this my friend.
Many rich Americans have left America and now enjoy life overseas BUT they made their money in America first.
I wouldn't talk too badly about rich people because many give billions from their heart to make the world a better place.
Yeah, you have rich snobs and rich pricks but you can't blame them soley for the bad that's going on in America.
Who is to blame? Well, the people who run this world: THE ELITE, also known as the Illuminati, Royal Families and the Banking Cartels that run this planet.
Donald Trump is child's play compared to the real people who run this world.
"Allow me to show you the Power Cosmic!" - Silver Surfer
Having rental properties is a gamble these days as well. My parents and my brother are landlords and it's a pain in the ass. It's hard to find good renters even now and it's hard to keep rental properties filled with paying renters. It is very possible to make $$ doing this, especially if you have rental properties in college or tourist areas. It is true that many wealthy people do this right now. However, when the economy collapses...people won't have $$ to pay rent. What then? The landlord will have 2 choices: 1) Kick everyone out (after going through all the pain in the ass procedures for months) or 2) Let them live in the house for free so that the renters don't vandalize the house. My parents and brother have decided that they will have to do the latter in order to avoid vandalism to their properties and perhaps get some favors (work) from the renters at very least. This would only work for them as they OWN the properties...absolutely no debt. If you purchased properties through so-called "good debt" you'd end up losing them when you couldn't pay your creditors.
While it is true that there are many ways to make $$ and be successful in America today, most of it will go away in the event of an economic collapse. The richest of the rich will find ways to stay rich, but the rest of us will have to find ways to just survive...which will be quite an accomplishment in the USA in the future. Donald Trump has sold out to The Elite, as have many of the ultra rich. They want their ticket to remain rich and will do what they have to (no matter how messed up) in order to keep their status. They are definitely child's play in comparison to the true Elite, but they have influence that most of us will never have. They will be maintained and kept for that purpose...
I agree with much of what has been said, but comparisons can't really be made between today's America and America in the future. Nothing will be the same in the event of an economic collapse. I'm not sure if I'll be able to get out of the country to live before it happens as it could happen any day, but I'm working on it. In the meantime, food storage, precious metal buying, gun/ammo purchases, etc are all on the agenda as well....as soon as I can manage it. I've already started the food supply, but much more to be done...
That said, I WOULD like to buy a property and rent it out for profit. If I could do it now, I would. Provided that I could get the Interest Only loan (It will take at least 2 years to qualify as I have to knock down considerable debt first), I could buy a place near a college or tourist area. When the economy finally collapses, I'd lose the place of course as I'd have no rental income if people can't pay. However, at least I could make some profit while I still had it....before the collapse. I don't know if this would all work or not as I can't really plan for it in the near future, but I've been toying with the idea...
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