After hearing some people tell him they are hundreds of thousands and one almost a million in debt, I realize that my debt really isn’t bad at all lol
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Interest rates and national debt are absolutely political, yeah.
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The good thing is I don’t think kids these days are buying into the whole belief that was pushed on us millennials/ gen xers that you must go to college to be successful. I know multiple kids that went straight into sales and are making 6 figs before they can drink at a bar.
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So go flag every post with an interest rate on the forum. Bored?
Stating a fact that national debt is 35 trillion or whatever isn’t engaging in a political debate It’s tied to macroeconomics and that’s all. He’s not blaming dems or repubs for the debt
People here like money, and keeping more of it in their pockets is a theme on the forum. So Econ is going to come up. There should be a thread for it regardless if you agree with what’s being said or not. Econ isn’t an exact science so there’s going to be debate.
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Here is the difference. I cannot run my personal finances the way the United States runs its budget
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Its the easiest way to make sure you cant have an 08 style collapse. If you dont know much about personal finances DR will get you to be “ok”
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You certainly can run them that way, but the only difference is you can’t raise your debt ceiling by issuing more debt and printing more money.
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Sure you can, but it does involve a bank, a mask, and a gun…lol
- Issue more Debt - Warrant for your arrest
The government just ignores it, maybe you can too. - Print More Money - It’s in the drawer and insurance will pay for it.
So you have money, and the bank has money…it just appears! poof.
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My personal favorite is when I suggested somebody do a one pay lease and they said they didn’t have that much money in savings
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Or MSDs…
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I don’t have that much money in savings, I prefer to keep them in stocks instead of holding them up for some reduction in lease. 
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I think for me, being a younger person, this is what scares me the most.
I’d be a delinquent that no one would extend credit to if I treated my personal finances like the government handles their budget. Now I know, blah blah blah, not the same thing technically, but when you consider the facts, it’s genuinely scary.
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The thread was ok until……it wasn’t. Interest rates are borderline issue. Clearly we progressed beyond that.
Slow mode set.
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Ha! That reminds me of this budget explanation from a decade ago. I got a good chuckle out of their budget cut.
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But the challenge of our debt is both simple and complex at the same time.
You either reduce expenditures, the largest being healthcare, social security and military spending. Or you increase revenue via tax increases. To get elected lawmakers need to pander that they won’t cut any of those wildly popular programs (which do provide a lot of good) or raise taxes to actually pay for these programs (or use the brute force of the government to push costs down for healthcare). And we’re surprised that the problem keeps getting worse.
Personal balance sheets are often as out of whack as government ones, though for different reasons.
Making hard, unpopular choices isn’t the American way at all levels.
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Nope, IMHO, if you’re a billionaire and can afford to buy a building for cash and yet the bank offer you a low interest loan to finance it, it makes a lot more economic sense to just finance it.
US is not the same as other country, USD is wanted by other govt n lots of people because it holds value pretty well = low interest loan for USA. The Govt should use that to our advantage and start spending money to improve infrastructure, education, etc etc etc. This is why fiscal conservatism, especially in US, is stupid, why do you leave low interest loan on the table just because you don’t want to add more to your debt.
Whole thread Dunning–Kruger effect - Wikipedia
Does anybody really know anything when it comes to economic predictions?
Haven’t skilled experts making predictions helped exacerbate the problem?
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No we’re dumb successful businessmen. It was just luck that we make what we do although anyone can become a broker…has nothing to do with ethics or drive. We all think we’re smarter than everyone else although we deal with the middle class everyday and they all say the same thing…and that’s exactly what we complain about here. Finger on the pulse means nada all is good. Dow and nasdaq to the moon. If the health of the stock market equated to the health of the nation no one would be complaining
FYI I didn’t start this thread
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