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Jay
Brooklyn, NY
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They are going to want to cut wages every-where you work on Long Island. But FEAR-Not....your Governor Patterson is getting ready to GIVE us another HUGE-TAX-HIKE on EVERYTHING.Go on now Blind-Mice...line-up and VOTE this CHUMP right back for another 4 more years.You get what you will VOTE for.
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Balto
Seaside Heights, NJ
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Not to worry - the House just voted to provide free health care to hundreds of thousands of illegal aliens to go along with the dole.
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S Carton
Brooklyn, NY
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Deflation is here folks. Wages are the major factor in inflation numbers. Global wage pressures are here to stay. Housing, cars, and energy prices are all cheaper by 30%-50%. Higher education costs are next. We're in for a long bout of deflation and that's not ALL bad. Savings are up. Bidding wars on houses are gone. Heating oil is cheaper. The great moderation is here!!
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Pliny
Brooklyn, NY
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Judged:
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S Carton wrote: Deflation is here folks. Wages are the major factor in inflation numbers. Global wage pressures are here to stay. Housing, cars, and energy prices are all cheaper by 30%-50%. Higher education costs are next. We're in for a long bout of deflation and that's not ALL bad. Savings are up. Bidding wars on houses are gone. Heating oil is cheaper. The great moderation is here!! * I agree with you. If managed correctly, it can actually be a good thing. Take real estate on Long Island, for instance. If starter homes were to decrease to a rational level, say,$150K to 225K, you would have enough young buyers rushing in to prop up the moribund real estate market. Trying to preserve values at these levels is not only foolish, but it also rewards people who made the dumb decision to buy at over-inflated prices.
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Pliny
Brooklyn, NY
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Judged:
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....But....BUT -- And I almost left this out -- public sector salaries and benefits are going to have to take a major hit in order for this to be managed correctly. It's just common sense.
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Pat from Babylon
Washington, DC
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There's always a lot of dead wood laying around. The employers need to weed these out before laying off the others.
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jake
Scarsdale, NY
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Most companys cut costs by hiring Illegal Aliens or getting phoney H1B visa applications !!! With the help of your Congressmen and Senators . Hurry with the stimilius package - Mexico is waiting for the cash !!!
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OlderNewYorker
Fishers, IN
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Pliny wrote: <quoted text>
*
I agree with you. If managed correctly, it can actually be a good thing. Take real estate on Long Island, for instance. If starter homes were to decrease to a rational level, say,$150K to 225K, you would have enough young buyers rushing in to prop up the moribund real estate market. Trying to preserve values at these levels is not only foolish, but it also rewards people who made the dumb decision to buy at over-inflated prices. Deflation would be President Obama's worst nightmare. The government has tools to deal with inflastion but can do absolutely nothing to stop a downward spiral into deflation. Price correction is one thing. DEFLATION across the board is a catastrophe. DEFLATION IS THE CATALYST OF EXTREMELY HIGH UNEMPLOYMENT RATES AND HUGE DECREASES IN WAGES. Why is God's good name would anyone want to produce anything or provide any service if they are going to lose money doing that? However have no fear. The delationary cycle we are c8urrently in is simply part of the recession as manufacturers cut temporarily cut prices to clear out there backlogged inventory. SO YES NOW IS THE TIME TO BUY THINGS IF YOU CAN. Especially a house. I will guarantee you however that the INFLATIONARY CYCLE OF THIS MAJOR RECESSION IS ONLY ABOUT A YEAR AWAY. If that does not come forget the word recession and you will get your wish for a MAJOR DEPRESSION WITH PROPERTY VALUES FALLING TO NEAR ZERO AND A 25% UNEMPLOYMENT RATE. Then what do we do? The answer to that is very simple. THE POWERS TO BE TAKE THIS NATION INTO REAL WAR.nOT THESE SKIMISHES LIKE IRAQ AND AFGANISTAN BUT A REAL WAR WITH A DRAFT.
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nonsense
New York, NY
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The best way to save money is to LIMIT EXECUTIVE PAY!! These PIGS rob companies of millions of dollars in salaries and benefits.
There should be a CAP on executive compensation! Sounds like socialism? Maybe, but it's WHAT WE NEED!
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Pliny
Brooklyn, NY
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OlderNewYorker wrote: <quoted text>
Deflation would be President Obama's worst nightmare. The government has tools to deal with inflastion but can do absolutely nothing to stop a downward spiral into deflation.
Price correction is one thing. DEFLATION across the board is a catastrophe. DEFLATION IS THE CATALYST OF EXTREMELY HIGH UNEMPLOYMENT RATES AND HUGE DECREASES IN WAGES.
Why is God's good name would anyone want to produce anything or provide any service if they are going to lose money doing that?
However have no fear. The delationary cycle we are c8urrently in is simply part of the recession as manufacturers cut temporarily cut prices to clear out there backlogged inventory. SO YES NOW IS THE TIME TO BUY THINGS IF YOU CAN. Especially a house.
I will guarantee you however that the INFLATIONARY CYCLE OF THIS MAJOR RECESSION IS ONLY ABOUT A YEAR AWAY. If that does not come forget the word recession and you will get your wish for a MAJOR DEPRESSION WITH PROPERTY VALUES FALLING TO NEAR ZERO AND A 25% UNEMPLOYMENT RATE.
Then what do we do? The answer to that is very simple. THE POWERS TO BE TAKE THIS NATION INTO REAL WAR.nOT THESE SKIMISHES LIKE IRAQ AND AFGANISTAN BUT A REAL WAR WITH A DRAFT. * Whoa...whoa...whoa!!! No one is talking about a deflationary spiral here. What *I'm* talking about is letting asset prices deflate to a level where market mechanisms find an acceptable equilibrium.
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S Carton
Brooklyn, NY
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Pliny wrote: <quoted text>
*
Whoa...whoa...whoa!!! No one is talking about a deflationary spiral here. What *I'm* talking about is letting asset prices deflate to a level where market mechanisms find an acceptable equilibrium. Exactly, asset prices will level off, when it becomes cheaper to buy than rent. The reason inflation is so far off, is the wage equation. Wages never increased proportionately with the recent asset inflation because of global wage pressures. I don't think we'll have a 'v' shaped recovery, but that doesn't have to spell depression. Japan has had an 18 year deflationary environment w/o soup lines. Not good, but not great depression either.
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S Carton
Brooklyn, NY
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Pliny wrote: ....But....BUT -- And I almost left this out -- public sector salaries and benefits are going to have to take a major hit in order for this to be managed correctly.
It's just common sense. I agree.
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Pliny
Brooklyn, NY
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S Carton wrote: <quoted text>Exactly, asset prices will level off, when it becomes cheaper to buy than rent. The reason inflation is so far off, is the wage equation. Wages never increased proportionately with the recent asset inflation because of global wage pressures. I don't think we'll have a 'v' shaped recovery, but that doesn't have to spell depression. Japan has had an 18 year deflationary environment w/o soup lines. Not good, but not great depression either. * I don't think we'll have anything approaching the Japanese situation for the simple reason that, culturally, the Japanese are more inclined to save a greater proportion of their incomes than those of us in the United States. Certainly, saving a little more is not a bad thing. But if a society, collectively, takes it to an extreme level, it most definitely can be.
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Pliny
Brooklyn, NY
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S Carton wrote: <quoted text>I agree. * Yeah, this has got to end. It must go back to the traditional tradeoff of salary vs. benefits. If they want high salaries, they need to pay more for their own benefits. If they want the gold-plated benefit package, they must accept lower salaries during their careers. The current equation no longer makes any sense to the majority of taxpayers, and now it has become an extreme burden. It's absolutely destroying Long Island, that's for sure!
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S Carton
Brooklyn, NY
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Pliny wrote: <quoted text>
*
Yeah, this has got to end. It must go back to the traditional tradeoff of salary vs. benefits. If they want high salaries, they need to pay more for their own benefits. If they want the gold-plated benefit package, they must accept lower salaries during their careers.
The current equation no longer makes any sense to the majority of taxpayers, and now it has become an extreme burden. It's absolutely destroying Long Island, that's for sure! Yeah well, there were no trade-offs in the very latest Nassau county/CSEA contract. Unbelievable,how Souzzi screwed the taxpayers for union support.
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