U.S. jobless claims rise 19,000 in latest week

Quoting from [Rapture]:


Replying to [Mike W Liu]: I agree its not heaven, Its Land of milk and Honey.U.S citizens losing jobs won't put them on streets. Their Govt protects them well in Bad times too. Social Security Benefits, Unemployment Benefits, Food stamps, Free Housing for Very low income people so on which makes it look like Heaven for us.

The US govt provides lots of benefits to jobless citizen, but at a very heavy cost. I remember when I was a student in UC Berkeley 2001, State of California government cut down education contribution and funds to my university and other public school to feed the unemployed. I would rather have the government creates jobs than to give out free-money.

Remember..."feed a hungry person today, he will go hungry tomorrow. Teach a hungry person to fish today, he will not go hungry forever."

Quoting from [Rapture]:


Replying to [Leo chengcheng]: I really feel sorry for the ones who genuinely lost a Job on off shoring. Hey that's the reality welcome to 21st century where Knowledge is power. If you can get these books and read it will change your thinking for once. Who moved my cheese by spencer Johnson, Rich Dad and Poor Dad by Robert Kiyosaki, Intelligent investor by Graham. Its not easy to survive in America without having Jobs been there, Done that. Besides paying your House rent, Paying taxes to the govt, Insurance for your car, Medical insurance, well it seems you work all your life paying Uncle sam. I am sure the middle class as well as the lower middle in America are burning their fingers with paying all these taxes. And a life revolving under credit cards. Its a wake up call for everyone out there.

We all bought "how to invest in the stock market" books, and one thing that I would not recommend is the "Rich Dad and Poor Dad" by Robert Kiyosaki. It does not have any great ideas that you can embrace, and there are no new strategy that will earn you more than 5% from the stock market. As a matter of fact, his materials are stuff that you can read and borrow from the library at the investment section, and I can recommend many more books that are much better than his intellectually. Nassim Nicholas Taleb's "The Black Swan" is one of them. I read a couple of pages of Kiyosaki's book 4-5 years ago, and if I were to read it again, I will go crazy. All his materials can be read for free from MSN Money, the streets, motley fools or from the Forbes. I would rather listen and watch 'Mad Money' Jim Cramer than to read Kiyosaki's book. It is a waste of money..... I can't believe people are still reading his books, and I can't believe I bought his book 5 years ago.

Sorry about the comments above, it is just that I cannot believe millions of Americans are reading his books and make Kiyosaki a Millionaire which he does not deserve. He is a millionaire thru his books not thru his wall street knowledge, and we are reading his books written by an amatuer?....... Nuff Said.....

Quoting from [Street Smart]:


The job loss of 19,000 is only a tip of the iceberg, many more jobs were cut, as the sub prime credit crunch and financial institution facing non-payment problem. It is also a national debt of $48 trillion, rising $1 trillion every 15 months. This mounting debt sees no plans of the Government or the people to solve it, and is heading deeper into it with more releases of FTA, Globalisation, and rising fuel oil and food prices, and the war in Iraq.


Street Smart

Quoting from [Rapture]:


Replying to [Thomas1976]: You have been in california and studied what do you think about the cost of living and how the poor and middle class gonna afford it. The rent in california has skyrocketed One bedroom can cost you $1000 the least.Buying a house no way its half a million dollars. There is no way a burger boy can afford this rent and work all his life paying the rent. Out of Job thrown on the streets by next month. I would say millions of Mexicans are doing this just toiling under the sun paying the juicy rent to the owners all their life just to get their life going and put food on the table. This is the other side of America we don't speak much.

Yeah, I been in California long enough to know what are the problems......


The news reporter or economist always chide Americans are not good in saving is simply wrong. Consumer goods may be cheap due to imports from India and CHina, but the inflation of essential goods are too high. 

For example, the rent inflation is high (probably going down now), the school titution rate goes up every year, medical insurance and bills, gas, electricity bills, water etc. These are all essential needs that American must spend and a lone burger boy cannot afford these. So, how can American save money when these essential needs are so high even though consumer goods are cheaper and cheaper every year?

Middle income household has to have 2 breadwinners, and must find ways to cut down on dependence on essential needs like gas and electricity, in order to survive these so-call American Dream. Luxury goods must be completely cut to have a positive saving.

Another thing I would comment on is the stock investment. Don't do it if your family expense is already on a high credit debt or already at the margin, in contrast to Kiyosaki's investment method.

What I like about the Mexican is that they know how to cut down on luxury needs. 4-5 family members stay in a small room flat, they work hard each day and save every penny. They take bus and trains to goto work... LOL... Americans are just too spoil...