Grim Reaper of Jobs Stalks the Street - Layoffs as High as 20% Are Predicted (Wall Street)

[w¡n9Nµ7 §£@¥€r 123]

Who said anything about squalor?

[mawilson 2,133]

Who said anything about squalor?

"live like they were making $40K"? In NYC?

[Trompe le Monde 1,107]

Maybe, but what's the point of having a big wedge if you only fritter it away on #######.

Living the good life while you're still young is not #######.

Living like ####### and having a nice savings account is worse....some day you will wake up and realise that you have "frittered away" the best years of your life in squalor.

Well, I'd rather have a big, fat stock portfolio than a bunch of things and over-priced rent but that's me.

Most Wall Street traders have a pretty short shelf life - many retire by the time they are 40. I'd personally rather delay gratification now than eat cat food when I'm 70.

[w¡n9Nµ7 §£@¥€r 123]

Oh yeah. Ok, that's squalor. That's not what I have in mind though. What I have in mind is living sufficiently below your means to maximize your chances of income continuity when times are lean.

That may very well equate to living like you make $40k, just not in Manhattan. Maybe in Burlington County NJ

[Heracles 417]

Maybe this is the end of NYC being the financial capitol. There are so many other financial hubs around the world now. Dubai is also rapidly rising up the ladder.

[w¡n9Nµ7 §£@¥€r 123]

Maybe this is the end of NYC being the financial capitol. There are so many other financial hubs around the world now. Dubai is also rapidly rising up the ladder.

My Wall Street buddies have long told me London is the financial capital of the world. Not NYC.

[Trompe le Monde 1,107]

Maybe this is the end of NYC being the financial capitol. There are so many other financial hubs around the world now. Dubai is also rapidly rising up the ladder.

My Wall Street buddies have long told me London is the financial capital of the world. Not NYC.

Yes, this is probably true. Some blame Sarbannes-Oxley. I also hear they could start trading oil in euros and not dollars.

Edited March 11, 2008 by rkl57

[w¡n9Nµ7 §£@¥€r 123]

Yeah SOX sux.

[mawilson 2,133]

Maybe this is the end of NYC being the financial capitol. There are so many other financial hubs around the world now. Dubai is also rapidly rising up the ladder.

My Wall Street buddies have long told me London is the financial capital of the world. Not NYC.

Yes, this is probably true. Some blame Sarbannes-Oxley. I also hear they could start trading oil in euros and not dollars.

Actually not true anymore.

London’s edge over New York eroded

London is losing its status as the world’s leading financial centre and being overtaken by New York, according to a global survey of finance professionals.

The collapse of Northern Rock and the proposed tax crackdown on non-domiciled residents are making the UK less attractive to overseas businesses, according to the City of London Corporation, which commissioned the survey.

A separate survey, also commissioned by the City, said the UK tax system had lost its competitive edge over other financial centres. The UK had become increasingly unpredictable and uncertain, complex and unnecessarily aggressive in its approach to taxpayers, it found.

[...]

However, its lead over New York had halved over the last six months – and questionnaires returned since the second index was published in September showed New York outstripping London. London was rated top based on all returns since the survey began 18 months ago, with 795 points to New York’s 786. However, the 411 responses since the September index showed New York’s score as 46 points higher.

Offshore centres such as Jersey and Guernsey had become more competitive, as had Shanghai, Dubai, Qatar and Bahrain.

The second survey on tax competitiveness found that business leaders in London believed the UK’s tax framework has become less competitive at a time when many other countries were reducing their tax rates.

Ireland, Switzerland, the Netherlands, Bermuda and Singapore were judged to be more attractive, while the UK tax regime now seen as increasingly unpredictable and uncertain.

The FT (February 28 2008)

[Heracles 417]

Maybe this is the end of NYC being the financial capitol. There are so many other financial hubs around the world now. Dubai is also rapidly rising up the ladder.

My Wall Street buddies have long told me London is the financial capital of the world. Not NYC.

London is doing very well for itself. The city is also really nice considering how old it is.

[Imua 0]

Ugh - I make around $50K (counting my salary and my side eBay business) and frankly find it insulting that my life would be considered 'squalor'. So firefighters, teachers, librarians(like me), social workers, police officers all live in 'squalor' just because we cannot afford a luxury condo in SoHo and eat at fancy restaurants? THE AVERAGE HHI IN NYC(which includes all 5 boros) IS AROUND 50K. Obviously I do not live in Manhattan(nor would I want to, BTDT, lived twice on the UWS, got sick of the phonies, now I only work in Manhattan and hate it) - I am in Queens and willing to bet that most of the people I ride in to work with on the 7 train every morning make less than I do. It's all about choices - I will most likely never have kids, for one thing - with all of the things that are considered 'necessities' for American kids I don't see how anyone can afford them, and the planet really can't handle any more. I share an apartment - for a long time I lusted after my own apartment but after my roommate left for an extended visit with family I realized that I started to get really lonely. The crunch will come when G gets here but since he comes from an even poorer background I am sure my life will be considered luxurious to him... I am vegetarian and make almost all of my own meals. I do not own a single 'designer' anything. I have never owned a car, dishwasher or washer/dryer. I finally broke down and just bought an iPod yesterday with some of my tax refund after my old CD player bit the dust. My idea of 'a night on the town' is going to the Ganesh Temple for puja and the best dosas in NYC, $3.50 each. The only time I go to Starbucks is maybe once a week in summer for a green tea Frappucino. I have traveled to Asia 5 times in the last 7 years, though, which my mom considers frivolous(with her new car and her bloated suburban lifestyle). I also have no credit card debt and put 10% of my gross pay into my retirement account. Take that, you Barney's shoppers!!! 'Squalor' my @$$.... And looking at the economy it seems like more people will be forced to downsize and live like me anyway...Better get used to it - I can give you some great recipes for lentils and rice if you like

[greeneyedgirlfl 0]

Ugh - I make around $50K (counting my salary and my side eBay business) and frankly find it insulting that my life would be considered 'squalor'. So firefighters, teachers, librarians(like me), social workers, police officers all live in 'squalor' just because we cannot afford a luxury condo in SoHo and eat at fancy restaurants? THE AVERAGE HHI IN NYC(which includes all 5 boros) IS AROUND 50K. Obviously I do not live in Manhattan(nor would I want to, BTDT, lived twice on the UWS, got sick of the phonies, now I only work in Manhattan and hate it) - I am in Queens and willing to bet that most of the people I ride in to work with on the 7 train every morning make less than I do. It's all about choices - I will most likely never have kids, for one thing - with all of the things that are considered 'necessities' for American kids I don't see how anyone can afford them, and the planet really can't handle any more. I share an apartment - for a long time I lusted after my own apartment but after my roommate left for an extended visit with family I realized that I started to get really lonely. The crunch will come when G gets here but since he comes from an even poorer background I am sure my life will be considered luxurious to him... I am vegetarian and make almost all of my own meals. I do not own a single 'designer' anything. I have never owned a car, dishwasher or washer/dryer. I finally broke down and just bought an iPod yesterday with some of my tax refund after my old CD player bit the dust. My idea of 'a night on the town' is going to the Ganesh Temple for puja and the best dosas in NYC, $3.50 each. The only time I go to Starbucks is maybe once a week in summer for a green tea Frappucino. I have traveled to Asia 5 times in the last 7 years, though, which my mom considers frivolous(with her new car and her bloated suburban lifestyle). I also have no credit card debt and put 10% of my gross pay into my retirement account. Take that, you Barney's shoppers!!! 'Squalor' my @$$.... And looking at the economy it seems like more people will be forced to downsize and live like me anyway...Better get used to it - I can give you some great recipes for lentils and rice if you like

But, don't you know...that's why they call us public SERVANTS!!! I think I live pretty well considering...I'd worry about owning my own place if I was staying where I live for good, but that plan is up in the air at the moment...I don't waste a lot of money on things I don't need and save all the money I can...

[mawilson 2,133]

I do not own a single 'designer' anything. I have never owned a car, dishwasher or washer/dryer. I finally broke down and just bought an iPod yesterday with some of my tax refund after my old CD player bit the dust. My idea of 'a night on the town' is going to the Ganesh Temple for puja and the best dosas in NYC, $3.50 each. The only time I go to Starbucks is maybe once a week in summer for a green tea Frappucino.

That's what I call squalor.