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overtheedge
Membre depuis mai 2012
680 commentaires - suivi par 6 personnes

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A laissé un commentaire sur l'article :

The Decline and Fall of America’s Middle Class

- Rick Ackerman -

If the general public refuses to live within their means, they deserve to go hungry and cold.

Those amenities you described still exist. The prices have gone up with inflation. What was normally considered luxuries are now considered some perverted sort of "right".

My folks grew up during the Depression. They eschewed debt for non-essentials like it was a virulent disease. I had to gain a bit of maturity to grasp the reasoning and logic behind their choice. Tis truly amazing just how cheaply one can live (and live well) on a meager income once you quit the debt game.

The problem is, was, and will always be attempts to live large on small incomes. Income is based upon productivity. All debt is a claim against that productivity. If I want an India Pale Ale or a glass of Zinfandel, I must make it aka I must produce a tangible good. If one is willing to accept delayed gratification, the debt-free experience in future consumption is a delight.

One often claimed response to this fiasco is the savings rate is low due to interest rates being ridiculously low. The maximum effective range of an excuse is zero meters. Even on my meager income, I can and do save.

The death of the middle class is their own fault. You can never borrow your way to class. The supposed middle class is just trailer trash with a high credit line. Emphasis on "trailer trash". The vast majority seek immediate gratification.

The people need to read, "The Richest Man in Babylon", by George Clason.
The people need to quit stacking the deck against themselves.
The people need to learn that one should only consider taking on debt if it will produce profits above and beyond the costs of debt service.

But Noooo. These folks eat not one, not two, but three heaping bowls of dumb-ass for breakfast and then take on debt for entertainment purposes. They borrow to go on vacation. Rather than a $5 meal at home, they borrow $50, $100, $200 to eat out. They borrow to buy a 52" HDTV and then get a premium cable or satellite package.

No sir. This supposed middle class that is in decline never was middle class. They are just trailer trash with a high credit line. What can you expect from graduates of schools that openly practice extreme grade inflation? What can we expect from people that blame everyone and everything for their own failure? They willingly took on debt and then claim the lender is cheating them.

No sir, the real middle class still remains. Only the posers are in major decline. After all, historically the middle class was the merchant class, the small businessman who sold products they had either imported or produced. The middle class wasn't the laborer. The working stiff was always the underclass.

The people need to realize either you are productive or you are parasitic. And I'm not so sure about myself.

Commenté il y a 4045 jours

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Début de l'article :After falling steadily since the 1960s, America’s standard of living is on the verge of collapse. This statement may seem counterintuitive, considering all of the pleasures so many of us enjoy: 50-inch TV screens and fabulous electronic gizmos that put a world of knowledge and entertainment at our instant command; Kobe beef hamburgers seasoned with pink Himalayan salt; battery-powered luxury cars that accelerate from zero to 60 in under four seconds; photo safaris in the Serengeti and vacat... Lire la suite

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