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Old 05-27-2017, 12:55 PM
 
17,613 posts, read 12,203,533 times
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Quote:
Originally Posted by freemkt View Post
The only way for burger flippers to spend 20% of their income is for government to allow them minimalist living options because it certainly is not possible when rent consumes half your income.
I'm not really concerned with that as you shouldn't be burger flipping your entire life
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Old 05-27-2017, 01:05 PM
 
6,166 posts, read 3,251,225 times
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The loss of pension plans, replaced by 401ks where the companies don't contribute and which have high fees have no doubt contributed to that in the U.S.

There is also the lowering of real wages of the middle class for the past several decades, so less real net income to save.

There's also not a mindset to save, anymore. Spending expendable income on iPhones and tvs. I think people were less consumer driven in the past. But it's hard to resist in our capitalistic society, where we're bombarded with ads to buy this and that, everywhere we go.

Once, I was watching tv at home. Simultaneously, there was a telemarketer trying to reach me on the phone, there was an ad on tv, and a salesman was knocking on my door. There are billboards when I drive down the street, ads on the radio, ads even IN the stores. Now there are ads on poles on the street, to see while walking. I get ads via email & text. Advertising works, which is why it's used so much. So sooner or later, people succumb and buy SOMETHING they ordinarily wouldn't have.

That chart is for 30 decades from now.
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Old 05-27-2017, 01:16 PM
 
345 posts, read 149,416 times
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Quote:
Originally Posted by Hoonose View Post
Can you 'cliff note' the above? It's not clear to me the lesson (s).
I expect that it would look good hand-printed on a sign in a front yard.
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Old 05-27-2017, 01:18 PM
 
6,166 posts, read 3,251,225 times
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Quote:
Originally Posted by Lowexpectations View Post
I'm not really concerned with that as you shouldn't be burger flipping your entire life
It's really not up to any of us to tell other people what they should or shouldn't do for a living. Most older workers in fast food advance to asst manager or manager positions, but some don't.

But it's the JOB that matters, not the person. Even a young person working a menial job should be able to save a decent amount for retirement. So if a person goes on to do something at higher wages, someone will take his place flipping burgers, and the cycle continues. It could be Cathy Cashier, Bob the Burger Flipper, Wayne the Warehouse stocker.

We should teach finances in high school, but they are cutting the already meager public education fund, so that's not going to happen.
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Old 05-27-2017, 02:51 PM
 
6,308 posts, read 4,767,382 times
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Quote:
Originally Posted by illtaketwoplease View Post
hardly meaningless. and this is just retirement income shortfall. 400 Trillion is mind boggling and these "experts" & "professors" help get us into this mess. Great reset coming either in the form of currency crisis, war or population reduction.
The way the number is calculated, and I did read the article not just the headline, it *is* meaningless.
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Old 05-27-2017, 03:23 PM
 
33,046 posts, read 20,714,185 times
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Quote:
Originally Posted by bpollen View Post
It's really not up to any of us to tell other people what they should or shouldn't do for a living. Most older workers in fast food advance to asst manager or manager positions, but some don't.

But it's the JOB that matters, not the person. Even a young person working a menial job should be able to save a decent amount for retirement. So if a person goes on to do something at higher wages, someone will take his place flipping burgers, and the cycle continues. It could be Cathy Cashier, Bob the Burger Flipper, Wayne the Warehouse stocker.

We should teach finances in high school, but they are cutting the already meager public education fund, so that's not going to happen.

Most fast food workers have ZERO interest in becoming fast food managers. I made that decision early when I had a summer job flipping hamburgers.

I did save a decent amount; I had the equivalent of $20K saved up by the time I graduated high school, but I blew it on college.
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Old 05-27-2017, 03:37 PM
 
4,229 posts, read 1,905,340 times
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Quote:
Originally Posted by illtaketwoplease View Post
hardly meaningless. and this is just retirement income shortfall. 400 Trillion is mind boggling and these "experts" & "professors" help get us into this mess. Great reset coming either in the form of currency crisis, war or population reduction.
None of that is going to happen. It's just gold-bug gloom-and-doom delusion.

Last edited by Pub-911; 05-27-2017 at 04:03 PM..
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Old 05-27-2017, 04:08 PM
 
33,046 posts, read 20,714,185 times
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Quote:
Originally Posted by Pub-911 View Post
None of that is going to happen. It's just gold-bug gloom-and-doom delusion.

How are people who can't afford to save for retirement going to buy gold?
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Old 05-27-2017, 04:45 PM
 
Location: Prepperland
13,116 posts, read 9,202,467 times
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Quote:
Originally Posted by bpollen View Post
We should teach finances in high school, but they are cutting the already meager public education fund, so that's not going to happen.
Actually, the Ministry of Truth and Propaganda frown on educating the young with useful facts about law, history and finance, let alone critical thinking. That's why public funded education has successfully lowered test scores for decades.
  • Not 1 in 100,000 Americans can accurately define the republican form of government, its source and origin. (No, it's not synonymous with republic, nor is it a "constitutional republic.")
  • Few Americans can explain the legal and logical difference between a dollar and a dollar bill.
  • And not many professional academians in eCONomics will admit that usury is mathematically unsustainable in a finite money token system, due to the exponential equation used for compound interest (which requires an infinite supply of money tokens).
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Old 05-27-2017, 05:33 PM
 
Location: Prepperland
13,116 posts, read 9,202,467 times
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Quote:
Originally Posted by jetgraphics View Post
http://www.federalreserve.gov/faqs/currency_12773.htm
● How much U.S. currency is in circulation?

● There was approximately $1.5 trillion in circulation as of February 22, 2017, of which $1.47 trillion was in Federal Reserve notes.
U.S. Population (2017) : 326,474,013
>>> $4,502.65 per capita <<<

Federal Budget (2017): $3.65 Trillion
<<<$11,180.06 per capita >>>
!!! WUH WOH SCOOBY !!!

THE. MONEY. DOES. NOT. EXIST.
Since 'classic' inflation is TOO MUCH MONEY chasing too few goods, how does a money token drought create chronic, long term INFLATION?

Bill Gates, and Co., are not bidding up the price on eggs and milk.

FEDERAL RESERVE
2017 MAY UPDATE
http://www.city-data.com/forum/43350872-post21.html
April 2017
M1 = $3,462.3 B; M2=$13,520.8 B
https://www.federalreserve.gov/faqs/currency_12773.htm
Q: How much U.S. currency is in circulation?
A: There was approximately $1.54 trillion in circulation as of April 5, 2017, of which $1.49 trillion was in Federal Reserve notes.

U.S. Population (2017) : 326,474,013
>>> $4,563 per capita <<<

Federal Budget (2017): $3.65 Trillion
<<< $11,180 per capita >>>
“HOUSTON, WE HAVE A PROBLEM...”

https://en.wikipedia.org/wiki/Financ..._United_States
The financial position of the United States includes assets of at least $269.6 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP) as of Q1 2014.
!!! WUH WOH SCOOBY !!!

CRITICAL THINKING CAP [ON]
How can a nation with only 1.49 T paper dollar bills (or 13.5 T) get into debt for 145.8 T dollar bills?
And how can that debt be repaid, since dollar bills are worthless IOUs, collateralized by the 326 million enumerated human resources, who pledged their labor and property?
Does it sound like a gigantic FRAUD?

What about the public debt, denominated in REAL dollars (gold)?
U.S. National Debt Clock : Real Time
$19.923 T as of May 27, 2017
(The dollar bill, being debt, is part of the national debt. Ergo, you cannot pay off this debt with dollar bills. To authorize more dollar bills, CONgress has to borrow them into existence, at usury.)

Pursuant to the *Coinage Act of 1792, et seq, the public debt computes to an obligation of 963,775,125,000 ounces (Troy) stamped into coin.
(*Double Eagle = coin containing 0.9675 ounce (troy) of gold bullion and other alloys. Equivalent to 20 unit dollars.)

https://en.wikipedia.org/wiki/Gold
... 2014 estimate that 183,600 tonnes of gold are above ground...
183,600 tonnes x 32151 =5,902,923,600 troy ounces

“We” owe 964 Billion ounces.
5.9 Billion ounces exist above ground.

(What?! This does not compute !)
U.S. Constitution, 14th amendment, Section 4. The validity of the public debt of the United States, authorized by law . . . shall not be questioned.
OOPS. Can’t dare mention that in public !

Thank you all for reading this, but we cannot question the validity of the public debt, its relationship to the worthless IOU known as the Federal Reserve Note ("dollar bill"), the lack of evidence of gold coin being lent to CONgress to substantiate the public debt, and the mathematical impossibility of ever paying off the national debt, let alone all the private sector debt, that upon default, will forfeit the majority of all property and labor to the "Creditors" (whoever they may be).

Just be grateful that they let you regrow your skin after they repeatedly skin you alive. And don't forget to thank all those "trained and educated" eCONomists who blithely ignore the fact that usury (interest) is impossible to pay over the long term. Lastly, kiss the foot of the all wise and benevolent master, the banker, who rules us all in perpetual bankruptcy.
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