Richer, poorer - For many in Mass., '90s boom was just a bust

Boston Globe ^ | May 5, 2002 | Marcella Bombardieri

[Leisler]

Bump! The NewYOrkBostonTimesGlobe has drawers of these.

[willyone]

How can this be? Is not fat Teddy this states senior senator. He would never allow this to happen. Must be Reagans fault. Keep voting for the liberal socialists and this is what you get morons.

[Gorzaloon]

Public policy is needed to address the problem, St. George insists. Necessities like child care and affordable housing may not seem directly related to wages, but they provide the stability that allows people to seek education and job training, thus improving their place in the work force, he said. He also contends that Massachusetts needs to spend more on public universities and community colleges.

In other words, a license to loot the "Rich" and redistribute their money.

[Kozak]

yea. As nice and beautiful as massachusetts is, it is WICKED BAD in cost of living and layoffs

You left out TAXES. They are akin to rape in that state. Another reason a company would be insane to locate to or expand in Taxachusettes. My current state Wisconsin is currently headed down the same path.

[MrNeutron1962]

Yup, another of the boomer crowd that felt that education ended in the 12 grade. My own father, now 64, is an example of the pre-war baby mentality. Don't learn anything, don't save for retirement, and don't try anything new. He's sold autoparts for 45 years and tried every get rich quick scheem he could find. Truck driver school, 4 weeks work and earm $25,000 a year, or more. Direct marketing, annoy your friends and co-workers until you loose your shirt. Selling crap at flea markets, more tiwanese screwdrivers sir? Anything except enroll in a real college and learn real skills.

Now, you'll say, he worked hard for me/us to get ahead and have a chance at college. Nope, when things started to go bad in the late 70's, he wanted his freedom, and didn't have a dime saved for college. This guy sounds just like him. I did so well, because he served as a good example of what not to do. Stand still and get trampled, then just cry and whine, when you discover your 1960s address-o-graph skills don't command the big bucks anymore.

So, what is this guy going to do for the next 10 years?

[RLK]

You are correct. Thirty-five and nearly 40 years ago I used to argue with leftist professors and theorists whan they said the thrust of leftist ideology should be to move America into economic parity with countries having a lower standard of living. If this were done it would remove the injustice of economic inequality between nations that causes discontent, wars, bla,bla,bla. The left has had their way. People in the U. S. and elsewhere have found ways to make money and accumulate polittical power brokering the process. People on this forum with wind-up-toy ideological mentalities are quick to spout rote criticisms of families such as those in the article who are but the first to feel the effects.

There are a number of shallow stupid people here. I have come to the conclusion that I don't know who is my worst enemy, the radical left or some of the brain-dead clucks who call themselves conservatives and libertarians.

[maryz]

Hmmm, exactly who was President during this period? What were the policies which caused this?

Geez, I'm scratching my head. All that comes to me is that the 80's were the "decade of greed," a view the Boston Globe (or "glob") did not dissent from.

[glockmeister40]

He had/has jobs in manufacturing. One thing is for sure - those jobs are went overseas and are not coming back. The next bunch of jobs to leave are in engineering, especially software engineering.

My advice to all: you'd better be saving every dime you can. Your job may be next.

[SamAdams76]

I'm sure they are high as I know several co-workers and family members who have declared bankruptcy, largely due to credit card debt that they could not get out from under. It pisses me off that they are allowed to get away with it as clearly they could pay their debt if they really wanted to.

As the most financially successful one in my family, I get a lot of resentful and snide remarks from some of them along the lines of "Not everybody can be as lucky as you." Well, my secret has always been living within my means and not getting into debt. I have no credit card debt, no car payments (I always buy used and pay cash for my cars) and only a modest mortgage to contend with. I tell these people that I don't use credit cards because "I can't afford the interest." I'm sure it infuriates them.

There are two types of people in the world. Those who borrow money and pay for doing so and those who lend (invest) money and get paid for doing so. I just prefer to be in the latter group. I hate making payments on loans and credit cards and I can't wait to get my mortgage paid off so I can be truly debt free. Of course, you can look at a mortgage as "paying yourself," for as I pay it, I build up my own equity. When you pay off a credit card, you are only reducing debt and doing nothing positive for your bottom line.

[sarcasm]

I agree with you - I have no mortgage and no debt. What worries me is that there are huge numbers of people out there who have borrowed up to the hilt. I don't see any economic boom which will rescue them from their predicament. This debt is going to be a huge drag on the economy for many years.

[RLK]

The next bunch of jobs to leave are in engineering, especially software engineering.

------------------------

Motorola has moved their semiconductor DESIGN operation to China, as athers are starting to do. In a few years American people can take their master's degrees in semiconductor and allied engineering and throw them in the trash while goofs here will continue telling them the problem is with their lack of education.

[IronJack]

These are the little indignities and sacrifices of a middle-class family with stagnant wages, less spending power, and a diminishing economic future.

I guess Massachusetts' brand of Bolshevism isn't working then.

[RLK]

Time to vote Democrat!

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If you voted for George Bush, you did, under another label.

[wingnuts'nbolts]

I agree, the whole piece is one long whine!! Victimization is the central theme. Rich is bad, anything else is not your fault.

[sarcasm]

The Massachusetts legislature has come up with the answer to all of their problems - they just passed a huge tax increase.

[Cicero]

I think I could manage to dig my own worms, too. Frankly, it would never have occurred to me to go out and buy them.

[mewzilla]

Mr. Mewzilla was offered a job out there a while ago. After spending a few months in MA on a project, we said no way. Taxes are horrific, and housing prices are out of sight (at least where we would have been, around Burlington). We knew folks who lived in NH and were commuting to work because they couldn't afford to live in MA. No thanks.

[HENRYADAMS]

I wonder if the civil servants have suffered lay offs and a decline in income e.g. Judge Lopez?

[Sicvee]

I think you should go a little easier on your old man. He was a product of the times. My dad set a great example, but didn't give me much for college. It was easy to earn your way through in the 60's.