What is Debt?

[Arraya]

[quote=flyer]Since “A population of debtors skating at the edge of disaster,” seems to be a very probable reality for our society in future years, all the more reason to make sure one has provided in all possible ways for one’s immediate and extended family.

lf.[/quote]. The debt data is pretty daunting. Another contraction would be catastrophic to a large portion of the population. We have roughly 70 percent of households that don’t have a thousand dollars for an emergency but they are inundated with debt. Student loans are at 27 percent delinquency rate now. Which, generation of, skyrocketed during the recession. That is a lot of people banking on a recovery that may never come

[flyer]

Completely aware of the stats, but I will proceed as planned to provide for their futures, and enjoy whatever time we have left with my wonderful family!

[davelj]

[quote=Arraya][quote=flyer]Since “A population of debtors skating at the edge of disaster,” seems to be a very probable reality for our society in future years, all the more reason to make sure one has provided in all possible ways for one’s immediate and extended family.

lf.[/quote]. The debt data is pretty daunting. Another contraction would be catastrophic to a large portion of the population. We have roughly 70 percent of households that don’t have a thousand dollars for an emergency but they are inundated with debt. Student loans are at 27 percent delinquency rate now. Which, generation of, skyrocketed during the recession. That is a lot of people banking on a recovery that may never come[/quote]

While we’re neck-deep in debt, what we’re not neck-deep in is debt SERVICE (thank you, Fed! – I’m being facetious), a huge chunk of it at long-term fixed rates. The government and corporate graphs are not dissimilar.

http://research.stlouisfed.org/fred2/series/TDSP

Japan’s been dealing with high and rising debt – with concomitant low debt service – for 30+ years now.

So, while I agree that we’ve got way too much debt, that Day of Reckoning can be put off for many decades using all manner of mechanisms (re: shenanigans). I’m sure we’ll try them all and invent some new ones as well. In the meantime, folks just continue to live their lives…

[scaredyclassic]

i’ve come to the conclusion that although the end is near, the time scale is pretty long, and “near” probably means sometime after I’m dead.

the primary focus should of course be on building personal strength and power in the time we have.

may has been an incredible month, the best of my nine months lifting. the focus is amazing. the squat jumped up to 205, a 35 lb gain in one single month. highest gain in a month for me. 205 was done vigorously and commandingly and confidently yesterday. I see 250 by early summertime and I am hoping for 300 by year’s end.

No alcohol. Sweets have been eliminated. Basically it’s no booze, no sugar, nothing but nuts, meat, salads, fruit and protein powder.

Although the world is falling apart, we can control our selves.

[briansd1]

That’s called personal responsibility, squat.

Combine the debt burden and the obesity epidemic and we know that the American way will come to an end eventually. I know people who can’t bend down to pick up after themselves else they can’t get up.

Still better to patch things as we go rather than let it all collapse. As we see with Europe, austerity is causing a lot human suffering.

[Author]

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