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Can someone direct me showing the National Wealth is owned by Baby Boomers unless Baby Boomers are those of the 1%?
Are we talking about the bottom 90% and acquainting wealth with home ownership? I've reread this thread and do not understand what appears to be understood by most. I admit am a teen. It seems that most are without grandchildren/ children or connected to their surroundings socially. ( impression from reading all posts )
Not a lot of time to write but was interested in what Wanderlust76 and NY_refugee87 referred to concerning China etc.
What do either of you think about this...
Since we are talking about wealth... does this involve public-private partnerships such as the recent Saudi- Blackstone agreement under President Trump's advisor Stephen Schwarzman... or is the 99 percent sitting at computers measuring material comfort by individualism or ego driven dreams of spent youth and cashing in on Wall Street stocks.
Addressing wanderlust76 and NY_refugee87 :
China's willingness to lend vast sums to the U.S. government by buying debt ( bonds ) has drawn a lot of attention in recent years. Since September 2008, the Treasury Department has ranked it as the biggest foreign creditor to the U.S though it has recently been dumping U.S debt. For a time Japan held the title with Russia presently gaining ( buying ).
If others have a comment I will be interested... i only named the above posters because of their comments.
Thank you for your attentiveness regarding this post.
This young man invest in expanding thoughts.... many should consider the larger picture he has referenced.
Interesting comment, though I think it went right past most of the commentators. They are mostly referencing their personal income and expense variables, and the bigger picture has not dawned on many as to the "why's" of matter and the "what" of the thing being done by Trump and his agenda.
China has been cutting back on where it puts its money, in late 2006 / China signaled that it would invest in more Gold, and less U.S. Bonds, but it also expanded its investment in various nations, and they are very much invested heavily in Africa.
The advent of the AIIB, is far bigger than many even consider of its expansive potential. We unfortunately did not enter as a founding members, because of the competitive nature of what is the AIIB, vs World Banks and Other Financial Relative Organizations.
We (American's) seem unaware what it means, when debt is high and what such internal turmoil... leads to... (Trump went on a begging and whining and crying mission and insulted the integrity of America before out NATO Alliance partners, who are many too "our trading partners" and put question to our financial stature, while insulting so many nations all at once, such things is not a small matter)
If we stumble which we are doing, and there is stronger push for China's currency to get its place as a reserve currency, our challenge will be astronomical, and the inflation rates depicted will be minuscule to what we may experience in dollar devaluation and nuclear level inflation....
Trump is playing to individuals in the wealthy sector, but he is unaware that those player will move money where money works and gains, and if that is away from American investments, then the past 40+ plus years should tell us, that is exactly what people will do with the massive volumes some select entities will make.
As to who holds the wealth... The 1% is not going to voluntarily give up that position. They have the money, what their goal is about is "Power", the power to dictate "legislation".
Speaking as a millennial, have you ever heard of compounded interest?
The boomers worked their entire lives and saved. Of course they got all that wealth.
Yeah, back when you could earn 5% off a savings account. We graduated in the world of ZIRP. The only interest bearing account most of us have is a 401k, which we can't touch.
Yeah, back when you could earn 5% off a savings account. We graduated in the world of ZIRP. The only interest bearing account most of us have is a 401k, which we can't touch.
You do realize, that if banks in a gone by year were giving 5% interest off of a typical savings account it was because:
(1) the rate of inflation was likely above 5% at the time, meaning it was still a net loss and....
(2) they were charging you the consumer much above 5% for home loans, student loans, car loans, etc...which is why they could afford to pay you the 5%.
MetroWorld's point stands. Compound interest is key over the long term and creates wealth. There are opportunities even in our low inflation environment. The problem is that people make bad choices. I can buy the latest iPhone, a fancy car, needlessly expensive shoes, etc...but I can't put 10% into a brokerage, IRA, or 401K.
I've seen many young people this including those up to their 30's & 40's who have jumped jobs frequently and missed out what they needed to learn.
Each summer we take on Interns, I make it my business to give them a realistic value perspective of what is work. I've seen some areas and divisions think this is "play time or something" which becomes a deeply damaging act upon and against the young people and their mindset about work.
I make sure they understand regulations, policy and process. I implore them to review these things, and then when work in introduced, I make sure they understand the extensive connectivity work is to the over-all community, not just of themselves, but the broader elements of society, as knowing that business exist for the service of society.
It takes "getting their attention".
Sadly, some have areas of business has brought on Interns, and give them the most menial job, without explaining the value points of work and the nature of responsibility within the task, some allow them to come to work, in shorts and sandals. Something that is never to be allowed in a true business environment. (go to some fad shop or some casual styled small business shop for that kind of presentation) It does not fit in Corporate world nor in any governance business. In some ares, I see those who intern for various law firms, who allow them to bring a laid back attire to run errands. It does not speak well of the firm, when the people show up for what ever their task brings them to deliver).
We've become a society who has engaged many fallacies of leisure, where people come to work on Fridays, which is considered "casual", but what people forget is to add the word "Business", thus so, Business Casual has a frame work of attire, that does not include jeans, faded jeans, lounge around the house clothing and such.
As to earning... We have a sad mentality in the management sectors of far too many places. Some are lost in grandstanding on their past, and refuse to pay people because they don't understand the dynamic change in what is work in this 21st Century. Yes, we still have the labor task, which is too an area, that has become very lax. We have people now who take greater pride in having a wider pay gap above their employee group, this has become more important to many, until they have lost the concept that part of management is preparing your workers for upward mobility, "regardless of what their current task is". But, the desperation of people for "status", makes them fearful for their job, rather than to simply become better at their job, by accepting the responsibility to improve it.
I watched a man working a small loader, he stood up and had to keep pulling up his pants as he walked. Supervision is not even aware of the safety hazards of such, nor do they understand the image it projects when their company logo is stamped on the side of the equipment.
We've not set the best examples for the young, yet so many criticize, but so few are willing to take the time and invest to help them understand the nature of value within and that is due unto the opportunity to work.
Many young people today are not given task to earn the cell phone, or the pocket money they are given. Some attire their kids in the latest high cost tennis shoes, and other variables.. never investing to give them the basis to learn the value of responsibility as to what it takes to get and have the things they seek.
The boomer generation wanted to give their kids everything, and then their kids wanted to give their kids even more and those kids grew to want to give their kids still even more.
Many today, who do not have the platform of wealth, find many challenges once they become on their on. Even the people who send their kids to University, with Credit Cards and immediate replenishment of it, until they have a limitless balance. They go through and come out the back side, expecting a life of convenience and leisure and want the pay to give them that. Their sense of self is connected to these elements. compound that with the professor script of making them think they are converted into instant geniuses, after sitting through lectures and reading some known literary works. They invest themselves in the "catch phrase ideology" and they consider it to be educated.
True educations provides information, that one can "learn how to be a learner for life". Many miss that aspect, and walk out thinking they've arrived.
I speak to people of investing one's self, to "learn", and discuss the value of what it means to learn. It is far beyond just academia, but how to look at the world for what it is, and understand how compassion should inspire respect for more than there is to attach a demeanor of "expect". When young people understand the value of learning what is the political environment, it too gives them deeper insight to understand how finances have influenced the politics and what and how that impacts legislation. But one has to first know, "what to value". It goes far and beyond material matter or a blind pursuit of wealth accumulation.
Greed and Status has taken Americans on the worst nightmare circus ride one can ever envisage to see.
People need to learn the "word games" and how to avoid it. Example: "Starter Home", that is fiction created by Real Estate Agents, to instill dis-satisfaction, which infers to create a repeat customer. But what is does is promote community instability, and communities become nothing more than "transit hubs"... and the young person is caught in a loop of thinking the house has to bigger and more grand, and then it leads to "keeping up with the Jones" and status games.
Warren Buffet is a great example for young people in certain aspects of responsibility and stability. I would not consider him a saint by any means. But look at his principle of "responsibility" and "stability"... he lives in the same home he bought when he was young. It is well maintained and it is stable. He understand what the Stock Market was created for. which is "long term holders", not quick spin loot a buck artist. He studies his investments to see the basis of stability and the need for stronger stability, and well managed growth. His railway investment, led to the further investment to repair the aged and ailing rail infrastructure, and his assets are more stable than when he bought them. They are poised to be of service to society. If he wanted to play "grab the money, and run, he could have did that, but he also understand that money is made to work, not to hoard. His ideas led him to achieve levels where he has given away more than many of the peacock millionaires and Billionaires will ever earn in two lifetimes. His basis has regain above the value he gave away, and his money given away serves causes to help society, and he is still at the top of the list of the worlds wealthy.
Trump is a certified "BUFFOON" -- he has no idea of the integrity of wealth nor the responsibility that substantiates that integrity. He thinks the claim of wealth should infer upon him something that he has not the dignity to earn. nor the wisdom to know what he needs to learn to earn such integrity. His character is terribly flawed, which was on full display during his belligerent campaigning, and now the Buffoonery of his composition is displayed in the ways he has damaged the entirety of America in only 130+ days. ...
He pandered to the uneducated and the politically illiterate, and bonded himself to the societal imbeciles. to them, they are enamored by bully talk, and the flash of material matter. They have not even the awareness to review and acknowledge the swindler mentality that he has engaged his entire life, and his tax swindles have damaged the very same uneducated and politically illiterates who pander to him. His mere presence in this role is an atrocity unto our young and a hardship sentence to our working poor and the dire poor, and a death sentence to our elderly.
He is an abomination to everything the word "Ethic's" stand for, his acts and his administration acts with Russia has damaged everything about the virtue of National Respect for this nation. It is Treasonous in every aspect and the media does not want to call it what it is. Truth has no presence within his administration, and within the Trump agenda his model, is "The Deal", by hook, crook, shank, swindle, and loot", among the other variables that Greed leads a fool to engage. Trumps long term agenda, is to create exactly what Putin has. Privatization of broad based Infrastructure that is not limited to roads and bridges, ports and etc, it includes all accouterments within our American system. None of Trumps concepts !!!!! was ever in the core design of America as a Democracy, that functions with a Capitalist model of monetary structural support. " Key word" 'SUPPORT". The premise of such model of Capitalism is to support the Frame and Foundation of what is a Democracy, and to have a Free Market in such a Democracy, it must have GOVERNMENTAL REGULATORY OVERSIGHT AND REGULATORY CONTROL... None of such is respected by Trump and his agenda.
PEOPLE... Pay close attention - look far and beyond your personal self, because you are being "SHAFTED" !!!
Think backwards and Learn - Remember Bush's attempt to sell our Ports Management to Dubai. {Republican logic is flawed, and for the desperation of money, they will try and justify anything, we were in the middle of deep entrenchment in the Middle East fighting and American lives being lost, and they "Republican" wanted to sell direct access to America, to the same region that has links and ties to 9/11.... It was "pure insanity" !!!} at the same time they were plotting to privatize Social Security and turn it over to the criminals on Wall Street.... "WHAT A TRAVESTY".. the uneducated and politically illiterate Republican Base never even knew what was happening. !!!!!!
The two that made the news — a $110 billion arms deal and a $100 million gift to an Ivanka Trump-inspired endowment — are remarkable in their own right.
But the third, which was rolled out much more quietly, is no less stunning: The Saudi kingdom joined forces with a top outside adviser to Trump to build a $40 billion war chest to privatize U.S. infrastructure.
The vehicle would employ the same kind of public-private partnerships, known as P3s, the Trump administration has endorsed for its trillion dollar infrastructure plan. The deal hands over control of projects to rebuild American roads and bridges to the private sector and a foreign country.
This is why Trump stated that he loved the "uneducated"...
in order to understand Trumps statement, You must first Remember, Presidents Johnson's statement:
Quote:
"If you can convince the lowest white man he's better than the best colored man, he won't notice you're picking his pocket. Hell, give him somebody to look down on, and he'll empty his pockets for you."
Last edited by Chance and Change; 06-01-2017 at 07:01 PM..
Can someone direct me showing the National Wealth is owned by Baby Boomers unless Baby Boomers are those of the 1%?
Are we talking about the bottom 90% and acquainting wealth with home ownership? I've reread this thread and do not understand what appears to be understood by most. I admit am a teen. It seems that most are without grandchildren/ children or connected to their surroundings socially. ( impression from reading all posts )
Not a lot of time to write but was interested in what Wanderlust76 and NY_refugee87 referred to concerning China etc.
What do either of you think about this...
Since we are talking about wealth... does this involve public-private partnerships such as the recent Saudi- Blackstone agreement under President Trump's advisor Stephen Schwarzman... or is the 99 percent sitting at computers measuring material comfort by individualism or ego driven dreams of spent youth and cashing in on Wall Street stocks.
Addressing wanderlust76 and NY_refugee87 :
China's willingness to lend vast sums to the U.S. government by buying debt ( bonds ) has drawn a lot of attention in recent years. Since September 2008, the Treasury Department has ranked it as the biggest foreign creditor to the U.S though it has recently been dumping U.S debt. For a time Japan held the title with Russia presently gaining ( buying ).
If others have a comment I will be interested... i only named the above posters because of their comments.
Thank you for your attentiveness regarding this post.
Neither have any bearing on me... I have one debt that I can pay tomorrow.
I don't fly, so if Saudis want a return on that investment let them get it from the companies at the air ports through an increase in ticket costs, or off the top of that airports profits. Roads. Avoid the toll roads, or the expense will be added to vehicle registration.
I get you're a teenager, but, with out a return, where are the incentives to invest?
Is it a good thing foreign countries invest in our infrastructure? I think so. The government has yet to be streamlined. Looks like the north east will be owing money. I lived in NY traveled all throughout the Northeast. There are maybe 5 good roads in the entire northeast, the rest are garbage. That is literally no exaggeration. If you become a mechanic become friends with penetrating oil and an oxygen acetylene torch. You will always be doing alignments...
There is no way in hell you'd get Americans to pay more in taxes for this to happen.
Why? I live in Florida I pay sales taxes in Florida property taxes and vehicle registrations in Florida not NY. Their problem they pay state and county workers to stare at potholes.... not my problem any more.
Sometimes private projects are far more stream lined than public/civil projects. Take Collaruso for example. They built roads and repair them in NY state, their roads are in better shape than NY state funded toll roads... They do it right the first time for more money, yes, but the quality of their roads and bridges are far better than what Cletus and Bubba with a pension from NY state...
Money doesn't grow on trees. If the states were smart, they'd take their over populated jails under protection of the 13 ammendment and put them to work building roads bridges tunnels air ports and the wall. Commodity-free labor. Then it would be a matter of sourcing materials. Lower the price of the infrastructure project. Or. Draft every person on unemployment welfare food stamps etc and put them to work as interns getting 15 per hour kill 2 birds with one stone. Learn a trade. Earn some money. Buy health insurance like the rest of us and tell us how affordable that obama care is...
Infrastructure is that elephant in the room that's been ignored over and over again. One of these days there won't be any good spots left to weld to on steel and iron bridges. Sewers will be running up in the street. Potholes turn to sinkholes. Then there's utilities and essentials. It's been ignored for wars, ignored for socialist health insurance, and ignored for far too long.
one thing that boomers haven't given their kids that they really need most of all is Love, and the youngsters are very hurt and resentful about it, what with their constant carping and whining and who wouldn't be?
Go f yourself. Who the hell are you to accuse me or anyone else of not giving their child love?
Neither have any bearing on me... I have one debt that I can pay tomorrow.
I don't fly, so if Saudis want a return on that investment let them get it from the companies at the air ports through an increase in ticket costs, or off the top of that airports profits. Roads. Avoid the toll roads, or the expense will be added to vehicle registration.
I get you're a teenager, but, with out a return, where are the incentives to invest?
Is it a good thing foreign countries invest in our infrastructure? I think so. The government has yet to be streamlined. Looks like the north east will be owing money. I lived in NY traveled all throughout the Northeast. There are maybe 5 good roads in the entire northeast, the rest are garbage. That is literally no exaggeration. If you become a mechanic become friends with penetrating oil and an oxygen acetylene torch. You will always be doing alignments...
There is no way in hell you'd get Americans to pay more in taxes for this to happen.
Why? I live in Florida I pay sales taxes in Florida property taxes and vehicle registrations in Florida not NY. Their problem they pay state and county workers to stare at potholes.... not my problem any more.
Sometimes private projects are far more stream lined than public/civil projects. Take Collaruso for example. They built roads and repair them in NY state, their roads are in better shape than NY state funded toll roads... They do it right the first time for more money, yes, but the quality of their roads and bridges are far better than what Cletus and Bubba with a pension from NY state...
Money doesn't grow on trees. If the states were smart, they'd take their over populated jails under protection of the 13 ammendment and put them to work building roads bridges tunnels air ports and the wall. Commodity-free labor. Then it would be a matter of sourcing materials. Lower the price of the infrastructure project. Or. Draft every person on unemployment welfare food stamps etc and put them to work as interns getting 15 per hour kill 2 birds with one stone. Learn a trade. Earn some money. Buy health insurance like the rest of us and tell us how affordable that obama care is...
Infrastructure is that elephant in the room that's been ignored over and over again. One of these days there won't be any good spots left to weld to on steel and iron bridges. Sewers will be running up in the street. Potholes turn to sinkholes. Then there's utilities and essentials. It's been ignored for wars, ignored for socialist health insurance, and ignored for far too long.
Citizen have some say in these matters, but APATHY, as you've expressed in your summary of disposition, is why people get what they get.
Every City has a council, and when there are Infrastructure Project, there is also allowance for public input.
when SOCIETY becomes more politically literate, they will understand that the representative they elected are the overseer of the Budgets that are authorized each year for each city. READ THE BUDGET, before it is approved. If the citizen population learn what it takes to build roads, then they get the roads they want, and not get what they settle for. When an Overlay is done, it matters what type of traffic that road will bear. Then that will determine that "one size fits all" asphalt does not work. If one truly wants to learn how roads are to be built.. Then Study "Texas" Dept of Transportation info. They understand the need for different grades for different roadways, they also consider what is moisture and its accumulation and how it not only impacts road surface but drivers maneuverability, thus one drives and one section is smooth and another grainy, its for a reason. The grade change is necessary, thus so, they get durability and longevity, as well as driver safety because they "think it through"..
There is a Federal Study, that advises cities against the "generic low bid process', based solely on dollars, they advice that 'quality standards should dictate the bid process, not just dollars alone.
Most cities use Bond's to fund that work, it is better to take out the bond that is needed, rather than later, paying on a bond, long after the roads are deteriorated and in need of another bond for the work.
Thus so, paying attention with local council people seek office. "what do they know"? not what is their name and whom do they know... When they campaign about things they have no control over, know how to discern flap from fact and get people who know what the job is, and understand their role to be good stewards over the resources of the municipality.
Many people complain about the government, but the government is the people.. it is the vote of the people who place people in the government, but people are slothful, "American People" think their works stops at the ballot box, and they get bad service because they failed their responsibility to hold their elected people accountable.
People "ALLOW" elected people to act special to the point, they don't have time for the constituency until its vote chasing time. When your elected people are "unavailable to you", that means they are also "useless unto you", they adopt the demeanor that your serve them, when their jobs is to serve you.
We are still a society of pauper's who function as SERF's and we get exactly what is due a SERF. Dictated to!!! We try to throw the blame of poor governing on the a bland word of "government" when that truly is a collective of "us".
Each person should demand, that schools give dedicated detailed focus to what is "Civics", until we become aware of that, all the English, Math and Science won't serve us, it will serve the wealthy managing over us.
We as an American Society FAILED at SOCIAL STUDIES.... if we had not Failed, and succeeded in learning SOCIAL STUDIES, there would be no racist bigotry infecting our society on a daily basis in every corridor of our society, the poor would not be treated as disposable, and the elderly would not be disenfranchised as if they are no longer useful.
We would not have anything remotely close to a Trump or the Republican Congress, if people were more a well learned.
Its "individuals" fault, because America has long had one of the best systems of Education in the world, we failed the schools, by the support of uncultured delinquency of our own young. We are too afraid to "DEMAND" every child remains in school... we do not understand that freedom is first and foremost and always a "responsibility", thus so, it is a responsibility for a citizen person to become learned...through the engagement of education as a Mandate.
A State, A City, A Community becomes what the citizens allow it to become in the levels of its deterioration.
American are yet to learn the responsibility of living in a Democracy.
Last edited by Chance and Change; 06-01-2017 at 07:59 PM..
EDIT: And don't forget over the next 20 years boomers will be dieing off at the rate of 15-20 thousand a day and all those resources and accumulated wealth will pass down.
The housing market is back. The auto industry is back. Wall Street is back.
The Baby Boomers didn't have globalism to deal with. As a Gen Xer, I'm glad I was established before globalism really had a foothold.
Same here. I come from poverty, worked hard and got an Engineering degree, submitted100s of resumes, took a crappy entry level job until I had the experience. Been working in the Aerospace field in Defense for the last 15 years. No Boomer or anyone else gave me anything. My millenial nephews and nieces are doing the same.
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