Archive for the ‘economy’ Category

Economy Continues to Weigh Down African-American Males « Hip-Hop Wired

In economy, Life! on November 25, 2009 at 12:09 am




Is the Great Recession in some ways color coded??


That may be a stretch, but there seems to be racial groups and sub groups in US who are becoming victims as opposed to participants in the recession…

Economy Continues to Weigh Down African-American Males « Hip-Hop Wired.



But why is this happening? Are the reason obvious, or more complex? Thoughts?


Overrated Careers….Is There Such A Thing?

In economy, Life!, Misc on November 18, 2009 at 12:51 am

In my opinion: yes.

I mean we are living in some of the most jaded of times…everything from fashion, to film, art and even recessions seems to be a spit out, microwave version of a previous experience from the past.

Nothing seems new anymore. So to go along with this unoriginal feeling that no one seems able to shake, even people’s careers, their livelihood, have been labeled as “not as great” as people may think…

And this argument has become even easier to make…with the icy recession breathing down people’s neck, and all kinds of people calling up the Unemployment Office–including the coveted docters and lawyers–apparently no one has been immune to job loss, and the more overrated position, the harder they have seemed to have fallen…

US News & World Report came up with a list, which is pretty accurate:

The Most Overrated Careers:

For the most part I do agree with this list (heck, I aspired to be one of these of the longest time), but my only issue is teacher being one of them. That’s just irresponsible, there are not enough teachers, and if everyone thought that being a teacher was not worth it, there would be even less…and what good would come from that?

What do YOU think? So much to consider: do you agree with this list? Are there others that were forgotten? Is there such a thing as an overrated career???



In economy, Work Series on November 2, 2009 at 2:19 am

My boss on welfare recipients:  “They should feel ashamed.  Shame is the best motivating factor.”

Getting a ride home from my boss  always leaves me with an insightful, if not enlightened or shocked impression.  Regardless of his often radical ideas, he brought up an interesting topic: Is shame a motivating factor?  My boss thinks so.

Apparently, his wife had witnessed a welfare member pull out a EBT card (now these “credit cards” replace the traditional food stamps) to buy steaks and expensive ice cream and groceries.   That scene threw out the notion that welfare people struggle due to their economic circumstances.

Disapprovingly, he said that the EBT cards were created to prevent others from knowing who was on welfare and who wasn’t and to prevent people from feeling ashamed about their welfare situation.   Even kids in school have similar cards for reduced meals so that other kids won’t pick on them.   At first, I thought that his view was a little harsh.   Struggling people shouldn’t be discriminated against.   Besides, my mother pointed out that EBT cards save paper and money to print.

However, after reading in the Star Bulletin that Costco is now accepting food stamps and that they are getting a flood of applicants, it begs the question: How could these people on welfare afford the 50 dollar membership fee?  And afford expensive products?    And, as my coworker said, buy nice fancy cars and bags?  And more importantly, does it matter?  Who is to say who controls how you spend your assets?

I don’t doubt that there are lazy welfare recipients.  However, I don’t doubt that there are also sneaky welfare recipients; those that get cutbacks from the government by filing even in their tax statements if they get under the table money for certain kinds of work (i.e. taxi drivers).  I also don’t doubt that there are honest people just trying to make a living.

So, is shame a motivating factor?  It can be.  In what form will it come? In these hard times, people are getting creative.  Does a nice bag and car indicate fruits of our labor? Not necessarily the conventional break your back kind.  But  should free riders be punished for taking advantage of a good opportunity given by government?  Darwin would probably say no.

So who’s at fault for our broken system?  We are all just trying to make it work.

Obsolete When All Are Employed

Wall Street: Is the Economy Turning Japanese? And why investors should take advantage of the U.S. stock market while it’s still afloat ….

In economy, Life!, Misc on October 27, 2009 at 5:04 pm

The Wall Street Journal states that America is now mimicking Japan’s post 1990 slump of  “Ultra-loose monetary policy and low demand for credit, combined with high unemployment and consumer deleveraging … [which] could lead to a prolonged slump.”

According to the article: 

The reality of an increasingly command-driven economy in America means that government policy is likely to become the key determinant of where investors should place their money. For example, the near-term prospects for the housing market in the U.S. will be strongly influenced by whether the federal government extends its first-time home-buyer tax credit when it expires in November. Like cash for clunkers with autos, the risk is that such a program is simply buying demand from the future.

This is why Wall Street should make the most of the rally in U.S. stocks while it lasts. The next bubble in asset markets will not be in the West but in emerging Asia, led by China.