quote:Originally posted by glassman: The rich get richer because they know how to make a buck while the "middle class" are only smart at getting into debt... You should read the book The Millionaire Next Door.. very interesting book on this subject with alot of statistics and data which you seem to get a woody about
In 2006, the median annual household income was $48,20
The median income per household member (including all working and non-working members above the age of 14) in the year 2006 was $26,036.
the US Govt debt is just above 9,000,000,000,000$ (9 trillion) each citizen's share of this debt is 29,763.73$
that's including kids UNDER 14...
total US credit card debt hit 2.45 trillion in July, so add another 10,000$ per person to the total unsecured debt in the US....
that doesn't even take mortgage debt into consideration...
the debt "problem" is outacontrol and only getting worse....
the National Debt has continued to increase an average of $1.47 billion per day since September 29, 2006...
globalistion isn't working at all.. it's actually hurting us pretty bad...
U.S. savings rate hits lowest level since 1933 Consumers depleting savings to buy cars, other big-ticket items
Updated: 11:10 a.m. CT Jan 30, 2006
WASHINGTON - Americans’ personal savings rate dipped into negative territory in 2005, something that hasn’t happened since the Great Depression. The Commerce Department reported Monday that the savings rate fell into negative territory at minus 0.5 percent, meaning that Americans not only spent all of their after-tax income last year but had to dip into previous savings or increase borrowing.
The savings rate has been negative for an entire year only twice before — in 1932 and 1933 — two years when the country was struggling to cope with the Great Depression, a time of massive business failures and job layoffs.
So you agree with me that debt is the real problem with middle class disappearing... and it has nothing to do with globalization.... just consumerism and America spending above their means and not saving or investing etc... read that book i recommended Glass... will open your eyes to this topic plus perhaps make you change your spending habits... though it hasn't with me lol I'm a consumer and admit it... anyways globalization can work if done right just that we all assume that prices for goods and services should be around the same as our own... that is where it fails... the cost of living is different in other countries therefor prices for goods and services are different and sometimes lower then our own... that is why we can't compete with some nations... it's not always about cutting corners...
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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I think the reality of what is happening to this countries economy is starting to take its toll. Our politicians have let things get way out of hand for a long time. The stock market has some major jitters and i think these boys are starting to get real worried. The only way they can keep things afloat is to start making some major changes and i think we are just starting to see some things happening. I hope we get some things rolling before the bottom falls out from under us.
I don't think most of our politicians will ever admit that they made mistakes by voting against a particular issue. But i do believe that many will start to correct some of their own mistakes in voting by figuring a different way to solve the same problem. I wonder how many more recalls we will see? Will we see closer inspection of perishable goods? Will we see closer inspection of textile goods to make sure they meet our standards? The list goes on and on.
I think they are going to slowly discourage imports. The politicians are afraid to put big import taxes on products at this point, but it could happen if the stock market tumbles. The big boys are really holding the market up and i think they can do that for quite awhile, but not forever without a lot of help.
Time will tell
Posts: 3875 | From: ca. | Registered: Jul 2005
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quote:I think they are going to slowly discourage imports.
That will never happen and for one reason only... it will affect our exports which this country does depend on in the long run.. we screw our trade partners and believe me they will do the same...
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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i am a very conservative shopper, i will pay more for quality, but i still look for the best price.... and we save rather than "buy stuff" for entertainment... credit cards? paid every month... my car payment? 0$
like i said i'm not worried baout me, i'm worried about the environment i'll be living in...
people do bad things when they can't afford to pay their bills and buy groceries...
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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posted
People do REAL BAD things when they can't afford to feed their families...and more and more people are getting to that point...and it's not from their poor spending habits or debt....it is from the loss of their jobs...
You have VERY naive views Mach, and what is happening to the middle class in this country right now WILL have a very serious effect on you and your family sooner or later.
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It's all in the timing... Posts: 4303 | From: DSA | Registered: Dec 2003
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When we talk about imports v. exports that is an interesting subject. Looking at the statistics for US exports it can look good at times, but you really have to look at what is actually made in the USA and the laws that govern using the USA made label. For some reason i could not copy and paste the made in USA standard and coplying with the made in USA standard.
I wonder what percentage of a product we export or sell here that is labled USA, are actually made in the US?
Posts: 3875 | From: ca. | Registered: Jul 2005
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quote:Originally posted by glassman: PS: a cup of coffee is almost 10$ in Korea just this past month
BUT, I bet you can buy a can of beer at the store for around 1,160 won (about $1.25). And they are not little 12oz cans either, no no, 20-24oz cans. I like Korea
-------------------- If ignorance is bliss, why aren't more people happy? Posts: 2647 | From: MN | Registered: Feb 2006
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quote: You have VERY naive views Mach, and what is happening to the middle class in this country right now WILL have a very serious effect on you and your family sooner or later. [/QB]
Before you call my views naive... first read the statistics Glass gave on debt by Americans... Loss of job or no loss of job Middle America likes to spend.. and spend alot... that is a fact... I see it everyday in the job I am in first hand... and I myself admit I am in some debt so I can say that I'm a spender... Unemployment is a problem but not quite as big a problem as DEBT is itself... people spend above their means so that IF and when they do lose their jobs they are not able to pay off their debt or if they do not lose their job they are always in debt and declare bankruptcy , end in the poor house so to speak etc...
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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quote:Originally posted by glassman: PS: a cup of coffee is almost 10$ in Korea just this past month
BUT, I bet you can buy a can of beer at the store for around 1,160 won (about $1.25). And they are not little 12oz cans either, no no, 20-24oz cans. I like Korea
Yeah, but is it good beer is the question? lol Asian beer isn't known for quality like German, Mexican and other beers...
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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posted
Mach, the problem with your argument is that there is no competition being introduced. Consenting slave labour will win against a salary earning employee everyday in a CEO's eye.
Posts: 2965 | Registered: Aug 2005
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quote:Originally posted by Relentless.: Mach, the problem with your argument is that there is no competition being introduced. Consenting slave labour will win against a salary earning employee everyday in a CEO's eye.
We'll that is Unions for you... high labor costs here adds to the final price of a product thus CEO's seek cheaper or less expensive alternatives... they answer to stockholders and not the general public... I am very pro union when they do not abuse their powers but i am under no illusion that labor is a major factor in the cost of things... and even if there were unions in all countries and they fought for higher salaries/wages that would ultimately add to the cost of a foreign countrie's final end products and we would be able to compete with them... the reality of it is it took like 100 years more or less for U.S. workers to get the salaries they are getting now factoring in inflation... through Unions etc... while everyone wants or expects workers outside the U.S. to be paid the same in minuscule of time.. and that will not happen my friend... 100 years in the U.S. is like 1000 years in Outside of U.S. time...
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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quote:Originally posted by glassman: PS: a cup of coffee is almost 10$ in Korea just this past month
BUT, I bet you can buy a can of beer at the store for around 1,160 won (about $1.25). And they are not little 12oz cans either, no no, 20-24oz cans. I like Korea
Yeah, but is it good beer is the question? lol Asian beer isn't known for quality like German, Mexican and other beers...
"Hite" is not bad beer at all, pretty good actually, if you like light beer. It has a real good light beer taste. The chit you gotta avoid over there is Bukol, 100% alch. tastes like rubbing alch.
-------------------- If ignorance is bliss, why aren't more people happy? Posts: 2647 | From: MN | Registered: Feb 2006
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