Going to have a mental breakdown from indecisiveness on going fulltime based of this board

[Brown echo]

CARRY ON.

 

[Brownslave688]

I don't know how old you are but I am fairly young still. I am fairly certain the pension will fail by the time I am ready to collect on it. I am also in the region with the strongest pension funding. It is more than likely at some point you will be lucky to get half but a more realistic guess is 1/3 rd. Got a 401K? Don't count on that either. Government has already talked about taking those. Ever hear of MyRA?

The fact is pensions eventually fail then govt takes them over at pennies on the dollar. With the federal debt what it is.... lets put it this way if your a baby boomer and retiring in the next 5 years or so most of your retirement should be comfy. Just get as much of it in your possession and out of institutions.

For Gen Xers like me, we will never see any of it, we will only pay.

So no I don't think its worth it because I doubt the promise will be kept. It will be reduced, taxed, and finally whatever is left will be eaten by inflation because of decades and decades of non existing fiscal policy and incredibly reckless and irresponsible monetary policy.

Do u wear tinfoil hats?

 

[Imchar1]

Man you all bringing home 1200+ can't be putting squat away for retirement.

Or you have like 6 kids to claim.

I claim 3 as I have 3, I put away 20%. Not in any UPS plan except a little UPS stock.

I am what some people call a prepper, my father was a prepper, and gold and to a lesser extent silver purchasing was taught to me ever since I can remember. Along with guns, ammo, non gmo non hybrid heirloom seeds and long term food storage. I never got into canning or preserving.

Also a remote farmable location isolated from the unprepared hordes of hungry savages off the grid.

When all else fails non perishable food and ammo will be the most valuable currency around.

I've probably said too much. But to your original point, if your taking home 1000 a week and can't save you are like the federal government and have a massive spending problem.

 

[Imchar1]

Do u wear tinfoil hats?

No tinfoil hats. History economics and mathematics are on my side. Hope change blinders ignorance of reality.... most people nowadays bank on that.

 

[oldngray]

Never discount the value of a good tinfoil hat.

 

[Brownslave688]

I claim 3 as I have 3, I put away 20%. Not in any UPS plan except a little UPS stock.

I am what some people call a prepper, my father was a prepper, and gold and to a lesser extent silver purchasing was taught to me ever since I can remember. Along with guns, ammo, non gmo non hybrid heirloom seeds and long term food storage. I never got into canning or preserving.

Also a remote farmable location isolated from the unprepared hordes of hungry savages off the grid.

When all else fails non perishable food and ammo will be the most valuable currency around.

I've probably said too much. But to your original point, if your taking home 1000 a week and can't save you are like the federal government and have a massive spending problem.

I can sympathize. It's not a matter of if but when I understand that.

Maybe I don't freak out about it because I feel like I'm in a better situation than most. I have no doubt I can feed and defend my family if need be. My wife's family has been in the gun business for 3 generations. My side of the family has a great medical field background. Everything from surgeons to family practice to anesthesia.

We have over 600 acres between us and live within a few miles of each other. Everyone gardens and cans. If all else fails ill go live with my Amish friends. Lol

 

[ChickenLegs]

No tinfoil hats. History economics and mathematics are on my side. Hope change blinders ignorance of reality.... most people nowadays bank on that.

Must be fresh outta college

 

[Imchar1]

Must be fresh outta college

I have a 4 year degree from 15 years ago. I'm not sure what your experience has been with but my economics classes preached a twisted view of Keynsian economics where excessive runaway debt is a good thing. Even Keynes said you could only run a certain % of debt for a certain period of time before you must pay it off and balance the budget again. What is called Keynesian economics really twists in a bad way what that term should mean. The liberal arts portion taught me that white Christian men were oppressive, sexist, and racist. History and and Civics told me that the country was founded illegitimately by racist white men for racist white men.

Quite frankly I would have been better off taking the money I pissed away on a college degree and went to Las Vegas or bought a boatload of powerball tickets.
I'm not really sure how you come to the conclusion that a recent graduate would believe that history mathematics and economics suggest collapse. Quite the opposite college grads think debt is great and necessary to create prosperity by providing free low quality healthcare, and fighting nonsense such as global warming.
I think I lost an IQ point or 2 by the time I graduated.

I think you got it backwards.

 

[JL 0513]

Do u wear tinfoil hats?

Must be fresh outta college

You guys would've said in 2007 that a massive economic collapse in 2008 would never and could never happen. 2007 seemed just fine after all. Politicians said it was fine. How could trillions of dollars disappear one year later?

Heads up fella's, the next one will make 2008 look like a tiny hiccup in our financial system. It's a shame that you can't read the writing on the wall. It's already italicized, bold, and underlined. Couldn't get any clearer.

 

[Imchar1]

You guys would've said in 2007 that a massive economic collapse in 2008 would never and could never happen. 2007 seemed just fine after all. Politicians said it was fine. How could trillions of dollars disappear one year later?

Heads up fella's, the next one will make 2008 look like a tiny hiccup in our financial system. It's a shame that you can't read the writing on the wall. It's already italicized, bold, and underlined. Couldn't get any clearer.

I hate to break it to you but 2008 was not an economic collapse. Wasn't even close. The problem with most people is their perceptions are based only on their own life experience. For a lot of people that was the worse they ever experienced so to them it was catastrophic till a bigger hit comes along. Relatively speaking 2008 wasn't as bad as was made out to be... it needs to be put in proper perspective. It still seems worse even today because 6 years later there is no recovery and none in sight.

The end game is when the dollar is no longer the worlds reserve currency. That will be the collapse and it is fast approaching. We are 120 trillion in debt if we balanced the budget today. Debt decreases the value of existing money in circulation.

The world trades goods with each other using the U.S. dollar. This means they have to buy dollars to buy oil and anything else from another country.

Lets say you are Saudi Arabia. Why would you want to sell your highly sought after high in demand natural resource light sweet crude oil for a currency that is constantly decreasing in value because of debt?

Lets say you are China or Japan, why would you continue to loan money and hold currency that continuously loses value?

I am China, I hold say 2 tril of U.S. dollars. I think the U.S. is irresponsible and is no longer a good investment. I take 1.5 tril and buy up oil gas gold and as much natural resources I can get my hands on.

I just flooded the market with 1.5 tril in U.S. dollars. The value of the dollar craters while oil gas and all other resources skyrocket, this includes food especially in the U.S.

congrats, I have just turned the U.S. into a 3rd world poor nation because at this point all countries move to a new reserve currency, dollars are dumped, and remember Econ 101 supply and demand?

Huge supply of dollars no demand means it takes stacks and stacks of $100 bills to buy a loaf of bread.

They don't teach that in college.

 

[JL 0513]

I hate to break it to you but 2008 was not an economic collapse. Wasn't even close. The problem with most people is their perceptions are based only on their own life experience. For a lot of people that was the worse they ever experienced so to them it was catastrophic till a bigger hit comes along. Relatively speaking 2008 wasn't as bad as was made out to be... it needs to be put in proper perspective. It still seems worse even today because 6 years later there is no recovery and none in sight.

The end game is when the dollar is no longer the worlds reserve currency. That will be the collapse and it is fast approaching. We are 120 trillion in debt if we balanced the budget today. Debt decreases the value of existing money in circulation.

The world trades goods with each other using the U.S. dollar. This means they have to buy dollars to buy oil and anything else from another country.

Lets say you are Saudi Arabia. Why would you want to sell your highly sought after high in demand natural resource light sweet crude oil for a currency that is constantly decreasing in value because of debt?

Lets say you are China or Japan, why would you continue to loan money and hold currency that continuously loses value?

I am China, I hold say 2 tril of U.S. dollars. I think the U.S. is irresponsible and is no longer a good investment. I take 1.5 tril and buy up oil gas gold and as much natural resources I can get my hands on.

I just flooded the market with 1.5 tril in U.S. dollars. The value of the dollar craters while oil gas and all other resources skyrocket, this includes food especially in the U.S.

congrats, I have just turned the U.S. into a 3rd world poor nation because at this point all countries move to a new reserve currency, dollars are dumped, and remember Econ 101 supply and demand?

Huge supply of dollars no demand means it takes stacks and stacks of $100 bills to buy a loaf of bread.

They don't teach that in college.

I mostly agree with you. You're correct that 2008 wasn't an all out economic collapse. In large part, that can be attributed to the feds artificially propping up the system with bailouts, which I'm not saying I support. If the banks were left in a position where they'd barely lend at all, then we'd see some serious smile*.

A real "collapse" will look like the great depression. Fact of the matter is, most of us went on as usual after 2008.

 

[Brownslave688]

I mostly agree with you. You're correct that 2008 wasn't an all out economic collapse. In large part, that can be attributed to the feds artificially propping up the system with bailouts, which I'm not saying I support. If the banks were left in a position where they'd barely lend at all, then we'd see some serious smile*.

A real "collapse" will look like the great depression. Fact of the matter is, most of us went on as usual after 2008.

Not letting the few big banks fail was a massive mistake. There are thousands of small banks that do things right that work of bought the large banks off.

 

[BrownArmy]

Reading the last few replies on this thread, I'm surprised that the FED hasn't head-hunted y'all and put you into the think-tank that's going to fix EVERYTHING.

You all seem to be experts, I think working for UPS is slowing you down, you should think a little bigger...