One decade is a very generous estimate.
Scary Debt Chart
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Originally Posted By: Gary Allan
Originally Posted By: LS2JSTS
Originally Posted By: addyguy
May sound 'simple', but summer vacations and back-to-school preparations would explain that one - think of all the students who get student loans to head to school in August.
Related as well, a lot of people buy homes during the summer months and close on those sales, end of summer beginning of Fall. Theres always a rush of families getting settled into new homes and new school districts in the fall months.
That was my first thought. What did I do during that period ..and what did I stop doing.
The oddity is that Sept is the time when most new cars were introduced. The lead up to this was in the previous quarter in terms of production ..which may explain some of the surge over the summer.
Yeah. At least with Ford, the July shut down was the traditional changeover. The production of next years stuff would ramp up after the yearly July break in August for September intro's. Used to be a two week shut down, now it can, and has been longer.
Originally Posted By: LS2JSTS
Originally Posted By: addyguy
May sound 'simple', but summer vacations and back-to-school preparations would explain that one - think of all the students who get student loans to head to school in August.
Related as well, a lot of people buy homes during the summer months and close on those sales, end of summer beginning of Fall. Theres always a rush of families getting settled into new homes and new school districts in the fall months.
That was my first thought. What did I do during that period ..and what did I stop doing.
The oddity is that Sept is the time when most new cars were introduced. The lead up to this was in the previous quarter in terms of production ..which may explain some of the surge over the summer.
Yeah. At least with Ford, the July shut down was the traditional changeover. The production of next years stuff would ramp up after the yearly July break in August for September intro's. Used to be a two week shut down, now it can, and has been longer.
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.
I'm up there somewhere. Part the American dream, and part of buying into the [censored] that is student loans and "needing" a piece of paper which drove up my other costs. Never did attain it though, couldn't afford to keep going down that path.
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.
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.
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saving for retirement
And when the massive inflation kicks in?
saving for retirement
And when the massive inflation kicks in?
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.
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.
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Quote:
And if there is massive inflation ?
That's my thought too. What of it? Is there some way to avoid it other than just writing off all the debt and defaulting on a global scale?
If any "trick" were plausible it would be to go as DEEP into debt as you possibly could and collect all the marbles you can before the MEGA inflation occurs. That way you get it on the cheap.
Getting out of debt may seem wise, but savings will be equally micro'd under inflation.
So ..I guess if you could manage to stash materials of absolute value, you may be able to navigate around any speculative harvesting on either end.
And if there is massive inflation ?
That's my thought too. What of it? Is there some way to avoid it other than just writing off all the debt and defaulting on a global scale?
If any "trick" were plausible it would be to go as DEEP into debt as you possibly could and collect all the marbles you can before the MEGA inflation occurs. That way you get it on the cheap.
Getting out of debt may seem wise, but savings will be equally micro'd under inflation.
So ..I guess if you could manage to stash materials of absolute value, you may be able to navigate around any speculative harvesting on either end.
Quote:
In many ways I am hoping for this recession lasts another 5 years.
Always fascinates me when people want other people to be intentionally worse off.
In many ways I am hoping for this recession lasts another 5 years.
Always fascinates me when people want other people to be intentionally worse off.
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Recessions are nature's way of saying that you thought you had too much money and spent it. They're not evil or "bad". They're a natural pause and realignment that occurs from our need to over extend any grand party.
Would you suggest a more (said like Dr. Strangelove said "Slaughtered!!") "REGULATED" environment? One without peaks and valleys?? Hmmmm (a William F. Buckley, Jr, "Hmmmm?")??
Would you suggest a more (said like Dr. Strangelove said "Slaughtered!!") "REGULATED" environment? One without peaks and valleys?? Hmmmm (a William F. Buckley, Jr, "Hmmmm?")??
Originally Posted By: Tempest
Quote:
In many ways I am hoping for this recession lasts another 5 years.
Always fascinates me when people want other people to be intentionally worse off.
maybe he got tired of folks making 30k a year driving 30k dollar suv's? and then hearing those folks complain of 4 dollar gas.
Quote:
In many ways I am hoping for this recession lasts another 5 years.
Always fascinates me when people want other people to be intentionally worse off.
maybe he got tired of folks making 30k a year driving 30k dollar suv's? and then hearing those folks complain of 4 dollar gas.
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Originally Posted By: LT4 Vette
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.
I agree, brother. What gets me is the people that live in [censored] houses and drive [censored] cars and don't have a [censored] thing that work at McDonalds (something that was a treat growing up not a necessity every time we went into town) but have the best new wigger clothes that act like they know everything and your [censored] compared to them. Yet they go out and buy big screen TV's and PS3's and the latest electronic gadgets. I don't understand why people base success on purely material things. Go buy a newer trailer or at least a car that isn't 75% rust and barely runs.
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.
I agree, brother. What gets me is the people that live in [censored] houses and drive [censored] cars and don't have a [censored] thing that work at McDonalds (something that was a treat growing up not a necessity every time we went into town) but have the best new wigger clothes that act like they know everything and your [censored] compared to them. Yet they go out and buy big screen TV's and PS3's and the latest electronic gadgets. I don't understand why people base success on purely material things. Go buy a newer trailer or at least a car that isn't 75% rust and barely runs.
The truth hurts.
"This is today's economy:
42.8% of the unemployed - more than 6.7 million workers - have been unemployed 27 weeks or longer.
Hourly earnings fell last month. How does consumer spending recover if average hourly earnings are going down?
The government spent $333 billion more than it taxed in March. That's 28% of GDP - or nearly one in THREE dollars spent in the economy.
The reason we have not seen an all-on collapse - yet - is that the government has stepped in and has borrowed and spent a literal $3 trillion over the last two years for the purpose of hiding the insolvency of virtually every bank and a good number of citizens in this nation, along with virtually every pension plan, annuity and other "defined benefit" plan and institution. They also changed the rules of the game regarding asset valuations - that is, they cheated."
Source
42.8% of the unemployed - more than 6.7 million workers - have been unemployed 27 weeks or longer.
Hourly earnings fell last month. How does consumer spending recover if average hourly earnings are going down?
The government spent $333 billion more than it taxed in March. That's 28% of GDP - or nearly one in THREE dollars spent in the economy.
The reason we have not seen an all-on collapse - yet - is that the government has stepped in and has borrowed and spent a literal $3 trillion over the last two years for the purpose of hiding the insolvency of virtually every bank and a good number of citizens in this nation, along with virtually every pension plan, annuity and other "defined benefit" plan and institution. They also changed the rules of the game regarding asset valuations - that is, they cheated."
Source
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?
+1
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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?
+1
(
JHZR2
Staff member
Originally Posted By: Tempest
Quote:
In many ways I am hoping for this recession lasts another 5 years.
Always fascinates me when people want other people to be intentionally worse off.
Like it or not, for all intents and purposes this is a finite universe for us. This means finite resources and finite money. Couple that with a growing population, and all of a sudden there is a real struggle for resources and "status".
So yes, like it or not, we all intentionally want others to be worse off. If that was not the case, we would all vote for taxes to be 98% and go live in a hut in Africa. You first?
Quote:
In many ways I am hoping for this recession lasts another 5 years.
Always fascinates me when people want other people to be intentionally worse off.
Like it or not, for all intents and purposes this is a finite universe for us. This means finite resources and finite money. Couple that with a growing population, and all of a sudden there is a real struggle for resources and "status".
So yes, like it or not, we all intentionally want others to be worse off. If that was not the case, we would all vote for taxes to be 98% and go live in a hut in Africa. You first?
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.
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.
I'll go first. I've been paying taxes since I was 14 years old when I got my first job at a Publix supermarket.
What really burns me up is all the people that committed financial suicide and now think our government is obligated to bail them out. You are responsible for your own financial problems and debt. Like I said before about people's big ego and small salary.
What really burns me up is all the people that committed financial suicide and now think our government is obligated to bail them out. You are responsible for your own financial problems and debt. Like I said before about people's big ego and small salary.
JHZR2
Staff member
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...
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...
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Yep. You can't borrow your way to buying stuff that can't be produced indefinitely and in unlimited amounts. Even a money tree won't buy stuff that's not for sale.
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