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Old 05-27-2017, 08:39 PM
 
Location: Prepperland
13,187 posts, read 9,294,496 times
Reputation: 9082

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Quote:
Originally Posted by Hoonose View Post
I would suggest that one learn all the details of our money scam, take advantage of it, and/or make the best of it.[Get rid of those notes as soon as you get them. trade them for things of real value - don't try to invest nor save them.] Accumulating tokens over the long term and try and beat inflation.[won't work] Legal tax avoidance. Learn how to leverage your tokens to accumulate more. Extracting rent can be very rewarding. Like you say the key is productivity, but all along the way tokens are very useful as exchange for just about anything one's heart desires. Socialism, money and usury are not going away. [Yes, they will]
Or death and taxes. [Half right]
I used to be a punk, but stuck to a successful long term plan that prepared me properly.

I would say that money can make you prosperous if managed properly.[Never]
I would also say that that billionaire could stay prosperous using our modern technologies.
If prosperity is based on prodigious production of usable goods and services, a billionaire who got rich "making money" but not actually producing anything, is unlikely to be be prosperous once the "system" implodes.
. . .
Anecdote flag on.
I lost the link, but I read an interesting tale of a family who were sailing the South Pacific. They were financially independent, and thought all they had to do was "fill up" whenever they docked at some island. To their surprise, many of the islands they docked, weren't interested in their money. The islanders were self sufficient farmers and fishermen. There was nothing to buy and no one would sell food to them. Anything brought in by ship was too expensive. The family eventually resorted to BARTER to acquire resupply.
. . .
Moral of the story : money only has value to those indoctrinated to believe they need money.

= = = =
As to the expectation of economic collapse, it is based on the following:
__ interest on the growing debt will require higher taxes
__ higher taxes will deplete the buying power of wages
__ taxes shifted to the retail price will generate more inflation despite the money drought
__ inflation will deplete the buying power of wages
__ despite higher revenues, government will still have to cut programs and benefits
__ at some point, the recipients riot or the tax payers riot - take your pick.
__ once the dominoes fall, the money system collapses:
____ not enough currency to pay off all outstanding accounts receivable
____ those who successfully cash out, are still left with worthless notes (dollar bills) that have no par value, by law
____ those who are pledged as collateral on the defaulted debt will probably walk away, making the "dollar bills" into wastepaper
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Old 05-27-2017, 08:51 PM
 
10,782 posts, read 20,288,644 times
Reputation: 9924
Quote:
Originally Posted by Lowexpectations View Post
If you only spend 20% of your income there is no reason to target replacing 70% of your income. You need to revise your plan
Wow his post went right over your head

Loosen up a bit
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Old 05-27-2017, 08:58 PM
 
10,782 posts, read 20,288,644 times
Reputation: 9924
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.
That's a ridiculous viewpoint.

"Congrats you have a job, here is $30,000 a year for a pension so you can retire and play golf in Florida"

Sorry, no, if you have no skills and refuse to acquire any, you're going to be poor. That is life's incentive to better oneself and the reason that the US has achieved the growth and status that we have.

The best thing one can do for the economy is population growth combined with balanced trade. That stimulates opportunities and allows more to move onward and upward.
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Old 05-27-2017, 11:21 PM
 
33,046 posts, read 20,918,897 times
Reputation: 8928
Quote:
Originally Posted by wheelsup View Post
That's a ridiculous viewpoint.

"Congrats you have a job, here is $30,000 a year for a pension so you can retire and play golf in Florida"

Sorry, no, if you have no skills and refuse to acquire any, you're going to be poor. That is life's incentive to better oneself and the reason that the US has achieved the growth and status that we have.

The best thing one can do for the economy is population growth combined with balanced trade. That stimulates opportunities and allows more to move onward and upward.
Let's say I want to acquire skills. Where do I sign up?
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Old 05-28-2017, 03:46 AM
 
3,460 posts, read 1,988,405 times
Reputation: 6109
Quote:
Originally Posted by Chemistry_Guy View Post
I am fighting to get to the point where my retirement income is 70% of my salary but I keep getting these huge raises, inflating my salary to the point where 70% just isn't feasible anymore.

I think you need to march into your employer's office and demand they stop giving you raises, because this is screwing up your 70% of current income for retirement calculations.
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Old 05-28-2017, 05:39 AM
 
4,229 posts, read 1,938,570 times
Reputation: 3788
Quote:
Originally Posted by jetgraphics View Post
Moral of the story : money only has value to those indoctrinated to believe they need money.
The Land of Lost Links is apparently quite a place. Meanwhile, money has value to any group of people whose economy has been successful enough to bring about the need of such things as a store of value, a medium of exchange, or a unit of account. Such groups today include most of the peoples of the world, but there may be isolated cases of inveterate crackpots, as well as backward and insulated tribes and areas where these concepts have somehow remained undiscovered or unrecognized. Everywhere else, they are as plain as day.
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Old 05-28-2017, 05:48 AM
 
4,229 posts, read 1,938,570 times
Reputation: 3788
Quote:
Originally Posted by wheelsup View Post
Sorry, no, if you have no skills and refuse to acquire any, you're going to be poor. That is life's incentive to better oneself and the reason that the US has achieved the growth and status that we have.
Such appeals to Social Darwinism are always quite touching, but in fact people are poor for a much larger list of reasons than you have wanted to admit here, and the US owes its economic station to a great deal more than any sort of uncivil, dog-eat-dog mentality.
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Old 05-28-2017, 09:21 AM
 
8,337 posts, read 3,517,626 times
Reputation: 1594
Quote:
Originally Posted by jetgraphics View Post
If prosperity is based on prodigious production of usable goods and services, a billionaire who got rich "making money" but not actually producing anything, is unlikely to be be prosperous once the "system" implodes.
. . .
Anecdote flag on.
I lost the link, but I read an interesting tale of a family who were sailing the South Pacific. They were financially independent, and thought all they had to do was "fill up" whenever they docked at some island. To their surprise, many of the islands they docked, weren't interested in their money. The islanders were self sufficient farmers and fishermen. There was nothing to buy and no one would sell food to them. Anything brought in by ship was too expensive. The family eventually resorted to BARTER to acquire resupply.
. . .
Moral of the story : money only has value to those indoctrinated to believe they need money.

= = = =
As to the expectation of economic collapse, it is based on the following:
__ interest on the growing debt will require higher taxes
__ higher taxes will deplete the buying power of wages
__ taxes shifted to the retail price will generate more inflation despite the money drought
__ inflation will deplete the buying power of wages
__ despite higher revenues, government will still have to cut programs and benefits
__ at some point, the recipients riot or the tax payers riot - take your pick.
__ once the dominoes fall, the money system collapses:
____ not enough currency to pay off all outstanding accounts receivable
____ those who successfully cash out, are still left with worthless notes (dollar bills) that have no par value, by law
____ those who are pledged as collateral on the defaulted debt will probably walk away, making the "dollar bills" into wastepaper
Many very rich got there through ordinary business and production. Some inherited it. Some got there through investment. Some stole it. More ordinary middle class people of course have to find their own way. I have found that long term sensible and conventional investing is a valid way.

These days it would be hard to find people and societies that don't take USD cash or electronic.

When do you think the USD will go belly up?

And what do you think our National Debt will be in 100 years?
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Old 05-29-2017, 04:41 AM
 
172 posts, read 131,647 times
Reputation: 156
By 2036 my pension will be Roughly $41k (Not including future inflation). At 48 years of age by 2036 I think I'll be alright. Definitely downsizing when the first kid leaves the house, I will not be wasteful like my parents. Seriously whats so damn hard minding our country (USA) business, beef national security, cut military spending, embrace modern transit systems, basic universal healthcare, and minimum basic income?
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Old 05-29-2017, 05:07 AM
 
65,371 posts, read 66,808,572 times
Reputation: 43751
Quote:
Originally Posted by freemkt View Post
Let's say I want to acquire skills. Where do I sign up?
you have to sign up in your own mind first for that tour of duty . then you creatively have to find your way to those skills ,they don't find you .

that is the difference between those who find a way to succed vs those who find an excuse
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