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Defense spending is a small and declining piece of federal spending. The bigger issue is the crowd-out caused by ever increasing transfer spending/entitlement hand outs.
There are tradeoffs by unnecessarily spending on "defense" abroad and not at home.
Not building that road, or funding mass transit that would've helped the commute of those trying to get to work/school, etc.
While expensive, it is clear that housing is not overpriced. Whenever a house goes on the market, it will receive many offers and go into contract within a week. That is evidence that there are many, many people out there who can afford the house, even though it is expensive.
Here's what a housing market looks like when it is overpriced/unaffordable: a house goes on the market and just sits and sits and sits with no activity at all because everyone says "it is overpriced."
Aside from a small percentage of houses that have fatal flaws, every house is jumped upon and sold very quickly.
The same story is true of rentals.
There is no crisis.
Because we're becoming a society of haves and have nots, and more recently experienced a K shaped "recovery".
The better indicator of whether housing is overpriced is income to housing price ratio.
While expensive, it is clear that housing is not overpriced. Whenever a house goes on the market, it will receive many offers and go into contract within a week. That is evidence that there are many, many people out there who can afford the house, even though it is expensive.
Here's what a housing market looks like when it is overpriced/unaffordable: a house goes on the market and just sits and sits and sits with no activity at all because everyone says "it is overpriced."
Aside from a small percentage of houses that have fatal flaws, every house is jumped upon and sold very quickly.
The same story is true of rentals.
There is no crisis.
Crisis is starting now with high mortgage rates and low availability. What you speak of is the last few months. Zillow and redfin already forecasted low transactions in Q3 forward.
Yeah, it also doesn't take into account things that wouldn’t have shown up in net worth like pensions, which blows the real gap even wider.
Looking at the data, there’s no way a reasonable person can swipe it away. When they do, it’s just simply bias and ignorance of the facts. And it’s usually preceded with them describing their own personal struggle at x age or they know some young person who is well of so in their minds that invalidates the data.
To someone intellectually honest, it may be more than just not “bootstrapping” or buying too many coffees or tattoos. I think (and the federal reserve thinks) it’s some of the events I describe. Of course, they’ll just downplay the events and call it “whining”.
There are tradeoffs by unnecessarily spending on "defense" abroad and not at home.
Not building that road, or funding mass transit that would've helped the commute of those trying to get to work/school, etc.
Very backward way of thinking - without "unnecessary" defense spending, there would be no road or mass transit needed because no work or school to get to.
If you look at the situation in Ukraine right now, without defense spending by NATO, Russia would just take whatever they wanted.
Very backward way of thinking - without "unnecessary" defense spending, there would be no road or mass transit needed because no work or school to get to.
If you look at the situation in Ukraine right now, without defense spending by NATO, Russia would just take whatever they wanted.
LOL, go ahead and keep believing these made up threats so that the MICC can keep profiting off of the fear mongering.
Ukraine wouldn't be in the situation they're in if the US didn't coup their govt in 2014 and push for NATO membership.
The US is the biggest threat to peace in the world.
Notice we are constantly in wars. We are the aggressors.
I would've thought as a boomer, all that life experience would've taught you a thing or two, and you wouldn't need to be schooled by a millennial.
OP, 38 years old here and doing just fine. Thank you.
I easily paid off my student loans because I went to community college the first two years. And I worked a good amount while going to the state university. So I didn’t borrow more than $10,000 in total. My grades suffered with as much as I was working. But in the end I got the degree and a decent job. That’s all that mattered.
I do think college tuition has skyrocketed since the time I was in college which was around 2005. But I think that just emphasizes even more that prospective college students should strongly consider doing two years at a community college first.
you had me until the crying about idiots borrowing a ton of money for worthless degrees.
I graduated HS 3 years before you and had a ton of high school friends that borrowed tons of money to go party for 4 years. My family had no money and I went to a CUNY school. I could have went to a state school but didn't want to come out owing any money at all , and I wouldn't have even owed that much. Of course a few years later these same people were crying about how much money they owed and now think Biden should wipe away their debt.
Do covid deaths count to you? A million in 2 years. That’s 3 times the u.s deaths of ww2 in half the time.
It was described as a war time economy no? Private industry harnessed to produce masks and other supplies. The u.s navy sent ships to New York and La.
And in terms of cost, Vietnam had a flashpoint of cost as involvement spiked you would compare to a years gdp because it was “shorter” but Iraq and Afghanistan were slow burns of cost over many years of gdp. However, their cost in total in the case of Vietnam or Iraq and Afghanistan were extremely costly.
And a problem with this history lecture, is that if you zoom the camera out a tad, you could “downplay” Vietnam in cost of lives and finances. I won’t do that, but that’s pretty much what you just did, and the same thing could be done to “diminish” Vietnam within just a generation.
1) the us population was about 140 million during ww2.
2) compare human years lost. The average age of death from covid is in the 70s, just a tad higher than people who were killed in ww2.
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