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We should thank them. Without them we could not save anything at all for a rainy day. Their debt is our savings as well as money supply.
Dollars are debt instruments and you need to understand this profound paradigm shift required for understanding. When one walks into the current banking system their powers of common sense understanding will do them no good at all. Everything will end up foolishness.
nonsense! the poor planner's debt is now our debt, not our savings. we are all paying for people who make bad choices, either by bailouts, taxes, higher insurance premiums, etc.
ps., although i might agree that everything will end up foolishness if we keep on the course that we are now on.....
nonsense! the poor planner's debt is now our debt, not our savings. we are all paying for people who make bad choices, either by bailouts, taxes, higher insurance premiums, etc.
ps., although i might agree that everything will end up foolishness if we keep on the course that we are now on.....
Hi floridasandy,
If you think that then you probably think that most of my posts are nonsense. Seriously. I would too if I didn't actually understand what our money is.
Do you have any money? If you do then you need to kiss the feet of people who have debt that eventually go into default. You could not save a thing without them.
If you actually want to understand me then watch this. If not, you never will. You can even head over to zeitgeist on the banking portion as well. I don't like the politics of zeitgeist but I agree on the problem. I have posted it many times but it seems that many people just walk right on by. The dollar is debt.
The following is exactly what I have been advocating.
I don't want to hijack this thread, but the portion that my insurance will pay (and I have a pretty good plan through my employer) has been steadily shrinking. Whenever I have a lab test done, I end up paying a portion. $100 here, $200 there... It all adds up, unfortunately. I'm lucky that I can afford it; many people can't. And I'm relatively healthy. My insurance is a PPO, and even the "in network" services aren't covered the way they used to be.
Quote:
Originally Posted by induhvidual
Sandy, why do you say that.
Don't you have medical insurance that caps your deductible.
I just signed up for BCBS that does exactly this.
My liability is limited to my deductible, which is 6k for me.
Let me know if you need more info, be glad to help
What I learned is to never depend on tomorrow or your plans. No matter that all the decisions were perfect and that you could see was on the right path, the bottom of life can fall. No matter how great life may be at any moment I always know there is another shoe ready to fall.
I agree that unexpected things can happen, but it's the plans you make that make the difference between being 2 paychecks away from disaster and having a year's worth of expenses in the bank.
The topic here is people who find themselves two checks from not being able to support themselves. Many, not all, of those people made no plans. They assumed that they would always have a job and that their house would keep on appreciating, and they took that 100% mortgage, racked up the credit card debt, and bought that new SUV on credit. During good times, many didn't save, they didn't seek financial planning, and they just hoped nothing bad happened.
Now something bad happened. People are getting laid off. House values are falling. Having that 6 months to a year worth of expenses in savings could be the difference. Sure, you'll draw down your savings, but this crisis won't last forever. Some of life is taking responsibility for your own destiny and being proactive. I don't believe that we're just victims who have no control over our own futures. Plan and act when you can, and you'll be less vulnerable when this stuff hits.
I agree that unexpected things can happen, but it's the plans you make that make the difference between being 2 paychecks away from disaster and having a year's worth of expenses in the bank.
The topic here is people who find themselves two checks from not being able to support themselves. Many, not all, of those people made no plans. They assumed that they would always have a job and that their house would keep on appreciating, and they took that 100% mortgage, racked up the credit card debt, and bought that new SUV on credit. During good times, many didn't save, they didn't seek financial planning, and they just hoped nothing bad happened.
Now something bad happened. People are getting laid off. House values are falling. Having that 6 months to a year worth of expenses in savings could be the difference. Sure, you'll draw down your savings, but this crisis won't last forever. Some of life is taking responsibility for your own destiny and being proactive. I don't believe that we're just victims who have no control over our own futures. Plan and act when you can, and you'll be less vulnerable when this stuff hits.
I don't want to hijack this thread, but the portion that my insurance will pay (and I have a pretty good plan through my employer) has been steadily shrinking. Whenever I have a lab test done, I end up paying a portion. $100 here, $200 there... It all adds up, unfortunately. I'm lucky that I can afford it; many people can't. And I'm relatively healthy. My insurance is a PPO, and even the "in network" services aren't covered the way they used to be.
Sandy - you are right on about the out-of-pocket cost increasing each and every year. I've owned a medium sized medical billing company for the past 10 years and in the last few years I have seem a remarkable change in how many more patient statements I send out due to the patient having to cover so much more even with in-network services. I'm sure those individual premiums aren't getting cheaper as the coverage for services is getting less and less.
People thought they were "well off" if they had a lot of credit (cc/HELOC/loans).
Well that "credit" is nothing but debt. Your "real wealth" is what you have in the bank..not "virtual money" you never had but had to pay back to the bank.
IMHO many many people confused credit with wealth; credit is debt and having lots of "debt" is not good. Borrowing someone else's money does not make it yours.
People thought they were "well off" if they had a lot of credit (cc/HELOC/loans).
Well that "credit" is nothing but debt. Your "real wealth" is what you have in the bank..not "virtual money" you never had but had to pay back to the bank.
IMHO many many people confused credit with wealth; credit is debt and having lots of "debt" is not good. Borrowing someone else's money does not make it yours.
Hi HappyTexan,
The only way that "real wealth" is in the bank is because someone else took out credit. They took bank credit and spent it and when they did you got it and put it in a bank. The only way for a guy named Frank to to save "real money" in a bank is for a guy named Fred to borrow it from a bank and spend it with Frank. That real money is Fred's debt. Its a debt currency. All this talk about saving can only be for a reserved audience so long as someone else goes into debt. As general advice to the society its nonsensical. Mathematically speaking ,we need lots of people in debt in this system. Without debt their is no money.
Gee, and I wonder how many of those '2 paychecks to armageddon' people did it to themselves? No, no...not politically correct to blame the overbuying masses.
The only way that "real wealth" is in the bank is because someone else took out credit. They took bank credit and spent it and when they did you got it and put it in a bank. The only way for a guy named Frank to to save "real money" in a bank is for a guy named Fred to borrow it from a bank and spend it with Frank. That real money is Fred's debt. Its a debt currency. All this talk about saving can only be for a reserved audience so long as someone else goes into debt. As general advice to the society its nonsensical. Mathematically speaking ,we need lots of people in debt in this system. Without debt their is no money.
I agree in theory. So I will let my company go into debt to give me a paycheck which I shall deposit in the bank. Then let the bank loan out my money and pay me interest. There ya go..plenty of debt floating around..just not on my shoulders gwyn
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