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Why should I worry? I have a good job, a highly sought after skill set, and nothing holding me back from traveling the world and chasing my dreams. Liberals and boomers signed America up for debt servitude. They wanted a booming stock market to make the last loser president look good. Let them toil to pay it off!
I'm getting to the point where I can agree with you. We are retired with no children. We don't have to be concerned with our descendants having to pay off the massive deficit being run up. So what if we keep adding to it? As long as we get more $ in the form of a tax cut and our investments keep growing, I guess I can say the hell with everyone else.
Do I think that it is the right thing? No, but if the party in power wants to proceed along that path, there is nothing I can do except just sit back and go along for the ride. It would be rude for us to not accept what they seem so determined to give to us.
I do find it a bit amusing that those who have been hollering the loudest about how their children/grandchildren will be saddled with the debt now are only concerned about how much of an immediate tax cut they will get. Suddenly the condition of the deficit for their descendants is just not that important.
The Fed's job is to maximize employment, stabilize prices (e.g. inflation), and moderate long-term interest rates. Based upon recent history, they are doing just that.
Why should the Fed have raised interest rates long ago? Unemployment was higher 'long ago' and inflation hasn't been a problem for more than a decade.
Because money was never intended to be free. Based upon the markets, everyone should be feeding their cats filet mignon. That is far from the case. The markets are in another huge bubble inflated by the easy money. It's going to pop.
Past Fed chairs have had to say "I was wrong", Yellen should have learned from that.
I'm getting to the point where I can agree with you. We are retired with no children. We don't have to be concerned with our descendants having to pay off the massive deficit being run up. So what if we keep adding to it? As long as we get more $ in the form of a tax cut and our investments keep growing, I guess I can say the hell with everyone else.
Do I think that it is the right thing? No, but if the party in power wants to proceed along that path, there is nothing I can do except just sit back and go along for the ride. It would be rude for us to not accept what they seem so determined to give to us.
I do find it a bit amusing that those who have been hollering the loudest about how their children/grandchildren will be saddled with the debt now are only concerned about how much of an immediate tax cut they will get. Suddenly the condition of the deficit for their descendants is just not that important.
I've condemned the debt we are placing on our children and I do not support the current tax cut bill.
Makes no difference to me, I retired comfortably at 55 with guaranteed federal pension benefit of $2300 a week plus COLAs for the rest of my life. Plus my wife has a guaranteed pension and collects Social Security too. We have no debt, own 2 homes, with a sizable portfolio that I can give to my kids to give them a step up. Life is good. Why do I care if most people are swallowed up in debt? That's their business.
Because economics 101..... you spend more during a recession. Just because from technical side that a recession ended, doesn't mean employment is up and people have jobs.
The GOP want to ADD debt after the economy has finally recovered.
Welfare rolls were filled with illegals and anchor babies creating a huge deficit doubling over the eight years. . Cheap labor created higher unemployment.
Many illegals sucked billions out of our economy sending our American money out of the country, no longer circulating in our economy creating a long recession. This went on for decades. It took big money out of our economy.
Obama took away the buying power from many Americans with the health care mandate on many healthy young people. Their buying power went to health care.
The insurance companies and hospitals got a much bigger chunk of money from millions of Americans paychecks. The economy was choked off for years.
Because money was never intended to be free. Based upon the markets, everyone should be feeding their cats filet mignon. That is far from the case. The markets are in another huge bubble inflated by the easy money. It's going to pop.
Past Fed chairs have had to say "I was wrong", Yellen should have learned from that.
And the dollar was never meant to be worth less than, well, a dollar and yet it is...
Government is dependent upon the bankers. The American citizens over the decades have given this authority to the government unchecked. The companies bailed out became "too big to fail" because of a lack of competition in the market place.
The government debt is due to DECADES of negligence by BOTH ADMINISTRATIONS and IGNORANCE OF THE MASSES.
Yes of course a 20 Trillion Dollar deficit based on a consumer/serviced-based economy with a currency being printed into oblivion with artificially low interest rates should concern the majority of Americans.
All it takes is a recurrent 2008 episode and ALL OF YOUR HARD WORK AND TRUST IN THE FINANCIAL SECTOR COULD EVAPORATE WITH A CLICK OF A BUTTON.
One person I know lost 140 thousand of retirement in one day.
The problem still is the MASSES are vastly IGNORANT to what is really going on. Maybe if they utilized the resources available they could EDUCATE THEMSELVES before it's too late.
I'm losing confidence though that is going to happen.
Eventually the party will be over and things will come crashing back to reality. If we don't correct it, they will correct themselves in time.
It is inevitable, but go enjoy your $5 specialty coffees while the party lasts. It might be too late right now. Everyone is dependent upon the government.
What's worse is the majority seem to be willing to vote away their rights and grow dependent upon the government.
They are fooled into a false sense of security. the same thing happened before 2007-08 housing crisis, lots of people tried to warn, but no one listened, Im sure the same thing is going on right now, according to all the media outlets and our leaders, everything is rosy and great, keep borrowing, keep spending, keep going to work each day!
And the dollar was never meant to be worth less than, well, a dollar and yet it is...
Has there ever been a monetary system where the unit of exchange yields the same value? I don't think so. The dollar is still worth what a dollar can currently buy.
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