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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Mike Johnston who wrote (51786)	1/27/2006 4:48:10 PM
From: shades	Read Replies (1) \| Respond to of 110194

Can a home renovation contractor expect to do the same amount of business after the bubble ? Will construction workers maintain the same income ? Graces hubby will - he does drywall - he will get richer every year giving Grace his ever increasing paycheck to buy shoes and wegmans until he dies - his income will never go down! You seem to be making a mistake of extrapolating levels of income derived from the bubble into the future. BWAHAH - the CBO rebuttle last night said the same thing about Bush - he extrapolated revenues and income that may never appear! And reductions in expenditure that do not seem real!

To: Mike Johnston who wrote (51786)	1/27/2006 5:04:14 PM
From: GraceZ	Read Replies (2) \| Respond to of 110194

My perspective comes from being married to a regular working guy and being a regular working stiff myself. It also comes from working with and for other people who make fairly regular average incomes. I manage money for others, so I'm privy to how others have managed to accumulate assets from modest incomes. I have a lot of friends like you who are miserable seeing that someone else makes a lot more money than they do, they think that these people don't deserve it and at the same time are trying to figure out how they can get in on that stream. I find envy to be a pretty ugly sentiment, especially when it is about money. I learned early on that more money doesn't necessarily make people happier, in fact it frequently makes them miserable. Look how miserable you are. I could care less about a bunch of people making piles of money gambling with assets because I know it has a negative expected return. These people simply trade off money with each other, they don't add nor do they subtract, it's a wash. Meanwhile people like myself and my husband get up everyday and add value to the economy. I have a friend who made around 700k as a Nasdaq market maker. It was hard to be too envious because I could see what the pressure did to her health, besides nobody lasts in that biz for very long. Aside from that, her income was paid as a percentage of what she made for the firm, so it wasn't like she didn't make it. She knew that it couldn't last, so she always lived like she made 60k and put most of it away, at least the amount the IRS left her. Now she has a normal income and she's actually a lot happier.