Scary Debt Chart

[daves87rs]

Originally Posted By: LT4 Vette
Every thing is just fine and peachy in my world as if there was never a recession. I ask myself whats all this 'doom and gloom' about our economy.

Sure I have no control over prices at the grocery store/gas pump and increasing taxes, but as long as I am careful with my spending habits and saving for retirement..... I have really nothing to worry about.

Its the people with overinflated egos that told themselves that they were A LOT more successful than they really were and got into major debt cause they lacked the finances to live that silly lifestyle.

+1

 

[daves87rs]

Originally Posted By: LT4 Vette
Wife and I both put 30% of our income away for retirement, I know Social Security won't be around in 25 years.

And if there is massive inflation ?
So what, it will just be normal as usual cause I won't lose any sleep over it.

In many ways I am hoping for this recession lasts another 5 years. It will force many people to rethink the way they foolishly wasted money in the past. Lots and lots of 'cash poor' Americans living waaaaaaaaaay beyond their means. Now its time for them to face the music.

Agreed. I can live without, and the stuff I don't have, usually you don't missthem either.


I don't miss cable, the 200 channels of the same things, or the 120 dollar a month bill either...

 

[Liquid_Turbo]

Correlation does not imply causation.

 

[Tempest]

Originally Posted By: JHZR2

How are finite resources given the planet we live on, not truth?

Sure, ALL resources are finite. The thing is, we aren't anywhere near close to using all of our resources.

There are 6+ billion people on this planet, and most of them have MUCH higher living standards than when the planet had 1 billion people on it. Do you think those 1 billion people thought that possible?

What if those 1 billion people prevented the future 6 billion people from utilizing resources? Do you think YOU would be as well off as you are today?

Why do you want to limit the potential prosperity of future generations? To make yourself feel better?

Please tell me what you do to make your neighbors and yourself worse off.

 

[Pablo]

Originally Posted By: JHZR2
Originally Posted By: Pablo
Originally Posted By: JHZR2
Like it or not, for all intents and purposes this is a finite universe for us. This means finite resources and finite money.


Another BITOG idea, turned into a theory, molded into a law....

If you look truly big picture, it's just not truth.


How are finite resources given the planet we live on, not truth? Ive not seen a decent means of space-mining or growing food on Mars. Infinite money is doable, because they can run the printing presses. Thats not a good idea though...


Think larger. Sure we could use up individual resources. But it won't happen. We will innovate long before that. To base your whole thinking that the universe if finite is indeed not truth. Before someone thinks I'm an earth raper, expand your mind a bit. Don't be so caged. Man is almost better than the roach.

 

[Tempest]

Static thinking is SO much easier to think with than the dynamic...

 

[saberz]

If the corporations can dig into debt and get bailed out, we should to!

 

[Gary Allan]

Originally Posted By: Anies
If the corporations can dig into debt and get bailed out, we should to!


File bankruptcy.

 

[PandaBear]

Originally Posted By: Tempest

Sure, ALL resources are finite. The thing is, we aren't anywhere near close to using all of our resources.

There are 6+ billion people on this planet, and most of them have MUCH higher living standards than when the planet had 1 billion people on it. Do you think those 1 billion people thought that possible?

What if those 1 billion people prevented the future 6 billion people from utilizing resources? Do you think YOU would be as well off as you are today?

Why do you want to limit the potential prosperity of future generations? To make yourself feel better?

Please tell me what you do to make your neighbors and yourself worse off.


I don't think this is a valid comparison. Out of those original 1 billion people, 1% live very well, and out of today's 6 billion people, 10% live very well. Going forward, out of the 20 billion people, 50-70% want to live like the 10% living the way we do today, and that is going to cause some impact.

BTW, the world is getting some impact when growing from 1 to 6 billion and people live better. Most of the large fish are gone from the ocean, agricultural runoff causes dead zone in ocean, salmon population decline, old growth forest disappearing, that's all before we even talk about anything remotely political like Global W**ming.

The soaring energy and iron ore price should tell you something about what living standard will be like if everyone lives like we do because they can finally afford to.

 

[Gary Allan]

But, Panda, why don't you want (a few) people to be rich? It's really very selfish and self centered.

 

[GROUCHO MARX]

"with the baby boomers, expect that debt chart to go up. hey, if I was in my late 60's and expected to live say 10 to 15 more years. time to buy that corvette with a loan and live it up on lavish vacations until you croak. then let the suckers at the banks/credit card companies write it off. can't collect the money if your dead.

"
================================================================================================================================================================

Keep Dr. Kevorkian's phone number on speed dial.

 

[Steve S]

Originally Posted By: LS2JSTS
Originally Posted By: Tempest
If you think that one is scary, take a look at this:
http://www.usdebtclock.org/

Notice that unfunded liabilities are significantly higher than the NET WORTH of our entire country?


Gee, we need a few more entitlement programs.
Working on welfare!!!