TacoBello

Mojo, why you so angry all the time? I'm sending you an e-hug

12% isn't horrendous. Don't get me wrong- it's bad, but not the end of the world bad. Go look at parts of Europe that have creeped into the 30% unemployment. That's horrendous.

I don't think J cares if his house is worth 500k less. He's not living in it to sell it. The markets always rebound. As long as he can afford to live in it and has a job, it's all good. He can look to sell and move on when the values creep back up.

That being said, if he can't afford his house, he probably couldn't afford renting either. So screwed one way or another. Sounds like he's doing all good though.

Majofo

Food for thought... my brosef works for a company whose stock value has doubled in the past year. Their spending has also increased to generate more business and it has been successful as their profit has also increased. Buy buy buy. But they're overspending.. overhiring to support growth.. they're profits are up but not 2x up plus cost. He works in a big tech company.. if the market adjusts.. house of cards.

TacoBello

Well you gotta keep things interesting, that's for sure. Although I must admit, I'm not a fan of cars. It always seems more uncomfortable than anything else.

TacoBello

Yeah man, it can definitely happen. Some scary shit out there. If only we had time machines, lol. "Bad investment? No problem! I'll just go back a few days and all is well!"

Majofo

I'm often misunderstood. I swear a lot.. 12% is bad enough to send people migrating and put cities on the edge. I have 8 friends who were without a job for 2 years in 2008. Luckily they didn't have kids to support. They moved around to family and friends. I had several of them living with me for a while. Most of them from one company. They all have their masters or phd in electrical engineering. They're doing okay now, but they couldn't afford their new cars or apartments for more than their severance package went. Unemployment for 2 years.. fighting to get a little cash, waiting on the extension to get approved. If you don't know, don't say like you do because you read some place across the pond has it worse.

Majofo

shits real, save your monies.

Majofo

also.. thanks for the hugs. I love you bros. :gheyhug:

civicdrivr

iTrader: (9)

T'werd.


J's adultness is rubbing off on me

Majofo

I'm just trying to get FOX news / NY Post on you all..

TacoBello

The problem with a masters and PhD, especially in engineering, is that jobs are limited and those after degrees really pigeon hole a guy. I'm sure your friends were willing to do whatever after being laid off, but companies also worry about hiring over qualified people because of retention reasons, etc. I had a guy working with me who came up from Phoenix to work here as an engineer due to the lack of work in the US and being pigeon holed with his masters. He was here for about 3 years, but ended up moving back some time last year.

Don't get me wrong, I can imagine a lot of people went through some seriously hard times last decade. Not sure how the unemployment rates are now in the US, or the stability of the everything, but I'm hoping it doesn't return to an '08 crisis again.

That being said, I have family over in Europe who was right in the midst of those crazy unemployment rates. I'm not just reiterating stuff I saw on the news. Some seriously sad stuff was happening...

TacoBello

But spending monies is so much easier, satisfying and exciting. Saving is all like "gotta budget and be responsible". Ain't nobody got time for that!

Now if you'll excuse me, I have to get back to my lunch, out of the dumpster...

Jamie's 08 TL

Unemployment Rate has dropped from around 12% to 6% in the past 4 years according to the government. I think that's a lie though!

Jamie's 08 TL

Anyone know about the FEMA Concentration Camps or the billion dollars worth of plastic coffins the Fed Gov has? Crazy stuff! Google that stuff.

rockstar143

iTrader: (6)

I confused, or you were vague?
I thought you were talking interest rates on mortgages. I agree that it's a good marker...

And as far as being a moron...I was one once, I then played one on TV and now I'm just a retired moron. I was on the receiving end of a foreclosure, I wasn't a victim, but I also wasn't a criminal. I learned my lesson though, that's for sure. Here, I'm paying about 75% of what it cost me to rent a similar house, one I can consider a home I'd be happy at for a long time to come. We could pay our bills on one income...we could even pay them on one income if I got laid off and had to work at Walmart to make ends meet. We got preapproved for nearly double what we spent for our house, if that's any indication (before they realized I couldn't be on the mortgage).

I'm sorry for your friends. My Dad has been preaching living within my means for a long time now and I'm starting to get why. I've never been a wild spender but deep down I knew having 2 cars was frivolous and a waste and that's exactly why I only have one now. If you spend it all, you don't have the ability to DECIDE what is important to you to buy in the future and the more you buy, the less you even appreciate the things you DO get. I was disgusting myself with forgetting to use coupons and throwing away cash on things I just rather replace than go on the mission of returning.

Majofo

Bingo! I was telling them to take education off the table and just put the odd jobs they did in school. Experience was #1.. they were still relatively junior and the only few jobs that were out there demanded a leader to run with the task and do so efficiently. Fuck, life is hard every generation across the globe. I get what you're saying, sorry for taking it wrong. It just sounded shallow when I read it.

Unemployment here is fanfuckingtastic (~4%).. so much so the rental market is 99% occupied and the housing market is 96% occupied. More houses, more apartment complexes, more road projects, good business. It's not sustainable nor is it welcome by locals (thanks for visiting, don't forget to leave).

The upside is if you have cash during the adjustment period, and a stable job.. parlay.

Yumcha

Feds needs to invest in more robots.

Yumcha

Education, while it CAN be overrated, is also important...I'll just say that. But, if you are getting an MBA or PhD...get it from a GOOD school. A second-rate college or university-issued MBA or PhD? Who gives a fark.

Majofo

I was ambiguous..

I didn't mean you personally, I mean't in general, JQP should be worrying. You have a good job and I believe it should be stable. It's the tech sector and related branches that will be hurt. Your pops is a smart dude. Bruh.. the s2k was a nice toy. You'll have others. Heck, nothing wrong owning something nice and letting it go for little to no loss.

Those hellcats will be dirt cheap in the downturn.

Majofo

Especially MBA. PhD can be from a poor school with a top-notch specialty in that field.

I know a lot of people (mostly engineers) who went MBA route during downturn. Spending tons of dough to any school that would let them in.. it's like their parents said, you should get your MBA.. and they did.

Majofo

They have, they're called drones.

Yumcha

MBA is a big-time waste if from a mediocre school. From say, an Ivy League top 10 school? Hell yes...the general rule is ka-ching...instant few thousand to your salary and likely mid-management quickly.

But, otherwise...don't bother.



Slight segue, but same can be said for going into music in college. Unless you're going into Eastman, Peabody, Julliard, Indiana or similar? Don't bother. I know so many people who didn't have the talent or abilities to get into those good schools and went into music...well, guess what? Starving piano teacher at best now.

Sad.

Majofo

I applied to Wharton.. in the interview I mentioned my ability to toss a good salad, they suggested I might be a better fit at Haas.

civicdrivr

iTrader: (9)

<-- No degree, that's where it's at.

Majofo

I was like.. you mean HaSS

Majofo

Degree is just your foot in the door. It's all about experience and your ability to fuck shit up.

civicdrivr

iTrader: (9)

I have vast amount of both qualities.

Yumcha

A bachelor's degree in a non-dead-end major/field is IMO, a buy-yourself-a-job paper.

If you didn't need it to get to where you are, then, all the power to you and guess what? You save a few thousand.



In my family though, getting a degree in a university was mandatory...it's a thing. Or somebody was gonna get a hurt real bad. Somebody.

Yumcha

And oh, a bachelor's degree in an useless field (i.e. arts or psychology or botany...etc.)...save your money.

I apologize in advance if any of you have a degree in those. But, why bother going to school for that?

Majofo

Fuck shit up in a good way.

I work with several groups. Many of these guys are PhD fakkas, super smart, super humble. But in a couple of the groups the top guy is a brainiac with bachelors who just knows his shit and has been doing it long enough to have seen everything. PhD's are always at his cube asking for help.

In another group, we have a tech, no degree, same thing. Guy knows his shit up down left right. In the downturn they let him go.. everyone went to the manager like you fucked up brah.. you going to be next, how can you let the top guy go. The rehired him for more money, plus he got like 20 year severance. betterthanexpected.jpg

That being said, if you want to go to school.. do it. You're never too old. What were you doing 4 years ago.. well.. what will you be doing 4 years from now. You set your path... only going to get older anyways.

Yumcha

I knew 2 philosophy arts majors in school...and the only reason I knew them was cuz they supplied good ...

Yumcha

Ultimately, I should've went into dentistry or med school.


<--- Lazy dork in college.

TacoBello

So what you're saying is that my MBA from the university of Nunavut isn't worth a can of beans? Screw you guys.

I'm going back to my lunch... in my favorite dumpster.

The wifey and I would both like to do an MBA. We know it's pricey as f*** though, and like said, with MBAs, the more you pay to go to school, the more you make coming out.

Yumcha

Well, no offense...but, if you and your wife are planning to get an MBA from the University of Alberta, Calgary, or Athabasca...

SAVE YOUR MONEY.


Those are meh schools?

If you must stay in Canada for your MBA...get it from Toronto, McGill, or similar AT A MINIMUM. Otherwise, Top 10 school in the US...no brainer. Seriously, I sincerely mean it.

TacoBello

So true. That's why I went into engineering- I had a permanent job even before I was finished my degree. I don't make the most monies (or anywhere close), like a lawyer, dentist, doctor, etc, but I don't make a bad living either.

I always wonder why 3/4s of the available "degrees" even exist. They're so stupid.

Majofo

You smoke..



Lots of schools are pricey as fuck.. it's about the top ten for real... check out US News.. it might be surprising but MIT is top 3.

TacoBello

Oh believe me, we know. McGill is a consideration. As good as they are, I really don't think we could afford Ivy league schools though. We may not become CEOs of Microsoft, but even so, I know I'd be easily making double what I'm making now. And with that, I really can't complain.

It all depends on what you expect to do afterwards. We also have to keep our goals within reason- I don't expect to be clearing 7 figures a year. But I know I can make a better life for myself by going back to school, as opposed to continue doing what I do now.

Yumcha

Oooo...Yamazaki!

Whisky: Yamazaki Single Malt Sherry Cask 2013 Named World's Best


Gotta pick up a bottle of that soon.

Yumcha

What engineering did you major in? EE? ME? CompE...?

Majofo

Loans bruh.. I'm sure most lending institutes would value your education at a top school of business an excellent investment.

Yumcha

Dude...when you're a TA for a couple of classes, gotta maintain grades...you need one of "those"...and Jolt cola to help code and finish your homework/cramming.


Hey, people think I was to mix up those two ingredients...but, it worked for me?