Dear John: Just curious: Have you ever traded stocks to make a quick buck or like Obama do you think capitalism is essentially immoral? R.L.
Dear R.L.: I think capitalism is great. I think manipulating financial markets for “a quick buck” will be the death of capitalism.
And financial bubbles that burst with regularity are the surest way to cause the destruction of the American way of life.
Just curious: Do you always think of yourself or do you ever consider the problems we are leaving for future generations?
Dear John: My purpose for e-mailing is to ask if you have a list of American cities that have a lot of job growth.
I recently lost my job as a legal administrative assistant, and I am having trouble finding another job here in Manhattan. So I am considering moving.
Part of the difficulty involves our government statistics, which you mention so often in your column. I believe you when you say that the Bureau of Labor Statistics uses a faulty model/formula, therefore its results are inaccurate.
When I make my request to research librarians, they all point to government statistics. I would be willing to move anywhere there is job growth. But I don’t know how to find accurate statistics, and I thought that you may be able to help. Even if you are unable to, I still love your column; keep up the good work. R.B.
Dear R.B.: Thanks for the kind words.
According to IHS Global Insight, the best job growth over the next few years will be in the West.
IHS thinks North Dakota, Texas, Arizona, Colorado and Utah will have annual job growth of between 2.5 percent and 2.8 percent. After that, it’s Idaho, Florida, Oregon, Georgia and South Carolina rounding out the top 10.
But here’s the problem: That assumes the economy stays the way it is: lethargic. If growth picks up, New York might be the place to be. If it weakens, then none of the states I just mentioned might live up to IHS’ expectations.
The problem is that IHS’ projections are also based on government numbers. So if government numbers can’t be trusted, anything made with them is suspect.
But there’s a more practical consideration: Moving that far away involves a lot of expense you might not want to incur when you don’t have a job. (Not to mention, you’d have to trade all that NYC has to offer for what? Utah!)
Anyway, best of luck to you.
And readers, does anyone have a position open for a legal administrative assistant? Let me know, and I’ll put R.B. in touch with you.
Dear John: I read an article in The Post headlined “Many New Yorkers living in foreclosure limbo” that said banks are dragging their feet on foreclosures in the NY metro area.
A few years ago I settled numerous credit-card account debts, and, in the process, every bank representative that I was in contact with harped repeatedly that it was important that I “get back on track.”
So it puzzles me as to why [the banks] are not taking their own advice to get back on track and are stalling eager homeowners who want to finally put this Great Recession in the rearview mirror! What do you think? E.D.
Dear E.D.: Banks are not taking their own advice? What a surprise!
I have no idea why banks won’t help homeowners out. But I can guess.
One: Banks are bureaucracies that don’t move swiftly. And the longer you have an issue with a bank, the more the paperwork piles up and the harder it is to get through that paperwork.
Or two: Banks don’t believe houses will retain the value that has built up over the past couple of years. So they are afraid that if they will refinance — or even take control of a house — they’ll be caught in the next down cycle.
I think both of those reasons are coming into play.