As some of you know - I make my so-called living in the wild and crazy world of Westchester NY real estate. Being 20 miles north of Manhattan - about a 35 minute train ride to Grand Central Station in mid-town Manhattan. of course our market was heavily impacted by the crash of 2008 - but nothing like many other parts of the country. Prices are down about 30% - we have some short sales, some foreclosures, but the market has been spared more than many other parts of the country…
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Yesterday I was having a discussion with a friend of mine who is considered to be upper income. She was complaining that the top 5% appear to be footing the bill for everyone else and that much of the middle class are not paying any taxes.
It has long been said that numbers never lie - however - they can be distorted by those who wish to cherry pick their numbers. Of course they are talking about federal income taxes to the exclusion of all else.
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Lately I’ve been hearing an alarming number of pundits suggest that the reason for wage stagnation is the lack of inflation and the actually presence of deflation in the economy. Inflation - so the argument goes - would have the laudatory effect of exert pressure on the private sector to raise wages.
Really? Seriously???? What are you smoking?
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In the wake of the Wisconsin protests that seem to have spread across the rust belt - there appears to be a glimmer of hope that the public has finally awakened from their stupor of complacency.
This is in part happening because the props holding up the middle class have been knocked out from under them. Easy access to credit - GONE! How about cashing out some of the untapped equity in your home? You’ve gotta be kidding me - WHAT equity?
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Foursquare is an example of clever exploitation - not true innovation..
Foursquare - an application for mobile phones or other mobile devices including GPS - is a social networking site for people on the go. = Users can “check-in” at venues using text messaging or the web. The check-in gives the user points and badges. As a Realtor® I am familiar with Foursquare but have chosen to confine myself primarily to Twitter for my mobile local presence.
Dennis Crowley and Naveen Selvadurai founded the company two years ago - Foursquare is now considered to be worth $250,000,000. The two founders were interviewed by Fareed Zakaria on his CNN special - “Restoring the Dream.” As such, Mr. Zakaria was siting Foursquare as a symbol of hope for American “exceptionalism.”
Now, I have no desire to diminish the achievements of Dennis Crowley or Naveen Slevadurai. Creating something that captures the imagination of the masses so quickly is no small feat. It is indeed an example of how someone with an idea can do well as a start-up in the US and still achieve great success. However, in terms of American ” “exceptionalism” it falls well short in one crucial area.
Ever since Obama’s State of the Union address in January, we have been hearing more and more about American “exceptionalism” and about so-called “STEM” careers in science, technology, engineering and mathematics. Engaging young minds in these all too critical areas of study is supposed to be the key to Americas future - paving a way to our supremacy in the 21st century and beyond.
Spin vs Reality:
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We are becoming a county of middle men. Paper-pushers, deal brokers, middle men - whatever you want to call it - that’s what we are becoming. When the M.B.A. trumps the Ph.D. in terms of monetary value to the extent that it does - we are headed in one direction only.
STEM careers can’t take root in a society where middle men rule the day - and the profits.
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As some of you know - I make my so-called living in the wild and crazy world of Westchester NY real estate. Being 20 miles north of Manhattan - about a 35 minute train ride to Grand Central Station in mid-town Manhattan. of course our market was heavily impacted by the crash of 2008 - but nothing like many other parts of the country. Prices are down about 30% - we have some short sales, some foreclosures, but the market has been spared more than many other parts of the country…
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