Is the middle class gone and am I poor?

[Caustic Burno]

All investment is at risk, made a nice chunk on Vanguard Fannie Maes during the bubble and sold before the bust.
Land is at risk as well seen the bottom fall out three times in my life.
Doubling your money because of inflation you lost as it never gained in buying power that is the biggest scam the investor can fall for.
That is like buying gold as a hedge against inflation scam your better off in a good interest bearing investment.

 

[inyati13]

Inflation is based on the CPI. Which is an index of a select group of consumer items. Congress with the support of the US Treasury has manipulated the formula for the government inflation rate for many years. The motive is not sinister, it is to hold down interest rates. For example, food is a CPI item. Food prices are low in the US because of government manipulation. Thus, how can the CPI be accurate. We could hold a conference on the manipulation of food prices. Our government is not much different from Zimbabwe except our politicians are more sophisticated. Here is an excerpt from Wikipedia. If you delve into it, it becomes obvious how our government has sifted out consumer items to reduce reported inflation. Thus the calculations provided in the posts above based on an inflation input are faulty.

The Consumer Price Index of 158 indicates 58% inflation since 1982, while a CPI index of 239 would indicate 139% inflation since 1982. The commonly quoted inflation rate of say 3% is actually the change in the Consumer Price Index from a year earlier. By looking at the change in the Consumer Price Index we can see that an item that cost an average of 9.9 cents in 1913 would cost us about $1.82 in 2003, $2.02 in 2007, $2.33 in 2013 and $2.39 in 2016.

 

[JWBrahman]

Ron, interest rates and currencies are the new cold war. It is very hard to illustrate how a fiscal policy promotes institutional violence The Masters of the Universe don't kill people with a gun or knife, they kill people with the way they manipulate money.

For example, a smart guy told me about the Sharks and Minnows philosophy that comes out of the Ivy League business schools. They are the sharks, and we are the minnows. Once a minnow gets fat enough on the scraps that fall from the shark's mouth the shark herds a bunch of em up for a good meal. The American middle class were the minnows they fattened up for the feast.

 

[Son of Butch]

JW there really is nothing new about it...but calling it the new cold war probably makes it easier to understand.

The financial system is 1 of the 4 hidden world dynasties (hidden from most peoples eyes)
More correctly stated, they don't kill people they enslave people with how they manipulate the monetary system.
The Federal Reserve...its Not Federal and there is No Reserve.
It's all a house of cards and it's going to tumble in another 20-50 years.
Wish I could live to see it, but alas it's the younger generation that will get to witness it.

CB wish I would have been smart enough to sell in early 2008 and buy back in... in 2009.
Then again there were many that wished they would have sold in early 1929 and bought back in... in 1931.
My grandfather was lucky enough to cash out to build a new house in 1928 and ride out the 1930's because the farm
and everything else was paid off before the crash of '29.

 

[inyati13]

JW there really is nothing new about it....
The financial system is 1 of the 4 hidden world dynasties (hidden from most peoples eyes)
More correctly stated, they don't kill people they enslave people with how they manipulate the monetary system.
The Federal Reserve...its Not Federal and there is No Reserve.
It's all a house of cards and it's going to tumble in another 20-50 years.
Wish I could live to see it, but alas it's the younger generation that will get to witness it.

CB wish I would have been smart enough to sell in early 2008 and buy back in... in 2009.
Then again there were many that wished they would have sold in early 1929 and bought back in... in 1931.
My grandfather was lucky enough to cash out in 1928 build a new house and ride out the 1930's on the farm
because everything was paid off before the crash of '29.

I have had my ups and downs with the markets. During the technology Era, I day-traded Nasdaq stocks. I had a list of about 20 stocks that I could about predict how they would behave. I would sell them in less than an hour if the gain justified. Would also sell in an hour if the drop justified it. In the end, I would have made the same if I bought the Vanguard Market Index. My income tax trade sheets sometimes exceeded 20 pages.

I agree with you and JW.

PS: SoB. The timeframe caught my eye. You predict 20 to 50 years. That is about my sense too. My brother and I speculate on world financial failure. He thinks it is eminent. I don't; because the world economy is manipulated effectively. You and JW are not the only thinkers on the planet. There are many intelligent knowledge people in high places. They are masters in the art of smoke and mirrors. No country wants the USA to fail because we all will go down the toilet together.

 

[Stocker Steve]

Land is at risk as well seen the bottom fall out three times in my life.
Doubling your money because of inflation you lost as it never gained in buying power that is the biggest scam the investor can fall for.

Sounds like there are still some high farm land sales in the corn belt that get publicity, but some no sales that do not.

One fall was farm crisis in 80s. Were the others in Texas due to oil?

 

[herofan]

It seems like there is no incentive from the system to live a life of financial responsibility. I know an older guy who worked public work, and also farmed his entire life. He was frugal and managed to save a lot of money. He's never been a burden on taxpayers or anyone else. His wife is in the nursing home, and because he has some money, they have to drain it.

There's nothing wrong with having to pay your own way, but if a deadbeat were in the nursing home with no money, or someone who looked well off but had no money, there would be programs to help. Same with college. If you have a decent income, and your son or daughter hasn't been A+ all the way, there isn't nearly as much money to help as there would be if you were a deadbeat. There would be grants and all kinds of stuff at that point.

 

[Caustic Burno]

Land is at risk as well seen the bottom fall out three times in my life.
Doubling your money because of inflation you lost as it never gained in buying power that is the biggest scam the investor can fall for.

Sounds like there are still some high farm land sales in the corn belt that get publicity, but some no sales that do not.

One fall was farm crisis in 80s. Were the others in Texas due to oil?

S&L failure triggered a big devaluation for years, there is a small tract near me still for sale by an old couple that want way over going price.
They can't understand that what they paid for it has never caught up.
They paid 5k an acre going rate for a good tract is only 4K today
The high interest rates of 16% in the 70's killed land sales
as well causing prices to fall. No one wanted to take on that note in a recession from heII.

 

[True Grit Farms]

It seems like there is no incentive from the system to live a life of financial responsibility. I know an older guy who worked public work, and also farmed his entire life. He was frugal and managed to save a lot of money. He's never been a burden on taxpayers or anyone else. His wife is in the nursing home, and because he has some money, they have to drain it.

There's nothing wrong with having to pay your own way, but if a deadbeat were in the nursing home with no money, or someone who looked well off but had no money, there would be programs to help. Same with college. If you have a decent income, and your son or daughter hasn't been A+ all the way, there isn't nearly as much money to help as there would be if you were a deadbeat. There would be grants and all kinds of stuff at that point.

This is one of those things that really pizz me off. And what makes it even worse is there is no easy answer. There's no way that the taxpayers can afford to care for everyone or educate everyone. It sure stinks that the deadbeats and freeloaders get a free ride all the way to the end though.

 

[Caustic Burno]

It seems like there is no incentive from the system to live a life of financial responsibility. I know an older guy who worked public work, and also farmed his entire life. He was frugal and managed to save a lot of money. He's never been a burden on taxpayers or anyone else. His wife is in the nursing home, and because he has some money, they have to drain it.

There's nothing wrong with having to pay your own way, but if a deadbeat were in the nursing home with no money, or someone who looked well off but had no money, there would be programs to help. Same with college. If you have a decent income, and your son or daughter hasn't been A+ all the way, there isn't nearly as much money to help as there would be if you were a deadbeat. There would be grants and all kinds of stuff at that point.

This is one of those things that really pizz me off. And what makes it even worse is there is no easy answer. There's no way that the taxpayers can afford to care for everyone or educate everyone. It sure stinks that the deadbeats and freeloaders get a free ride all the way to the end though.

It doesn't bother me to drain my money before help that is what I saved it for, the kids can make their own just like I did and my dad and grandpa did.
What gets me mad is raping the land from the family some things should be scared.
The ones that chose the freeloader lifestyle should be handled like the spca does the animals no one wants.
Should have to pay to play of course those disabled or veterans get a pass

 

[backhoeboogie]

Its priorities. A $6000 refrigerator is pretty much worthless if there's noting inside. The value is going to be measured by the contents from my perspective. My ice box didn't cost all that much, but it'll feed most of you, same as if it cost a whole lot more. My freezer runneth over and its an el cheapo too. Chest freezer full. Upright freezer full. Of good food.

Its not how much you make, its what you do with what you earn. A whole lot of rich folks are dirt poor.

I am blessed.

 

[Caustic Burno]

After rita young fema workers showed up at the house they were amazed at everybody around were functioning as normal.
I will never forget when I asked how they got here they said they came in on that trail, they were pointing at the county road.
They could not grasp we had food power and fuel.
That was an example of our government workers 11 years ago.

 

[backhoeboogie]

Yes My house is fully modernized. Total electric. But I have a wood stove I can use. Have several oil lamps. Have several Coleman lanterns - gasoline compatible. Coleman Stove. Generators. Welder that can become a serious generator. Have propane deep fryers. If I can defrost the meat, I could feed an army in a crisis. Have options on how to cook it.

Water tank only has 1200 gallons from the deep well. Booster pump wouldn't work without a generator but I have gravity flow. We'd have to ration water to last for the long haul.

 

[True Grit Farms]

Yes My house is fully modernized. Total electric. But I have a wood stove I can use. Have several oil lamps. Have several Coleman lanterns - gasoline compatible. Coleman Stove. Generators. Welder that can become a serious generator. Have propane deep fryers. If I can defrost the meat, I could feed an army in a crisis. Have options on how to cook it.

Water tank only has 1200 gallons from the deep well. Booster pump wouldn't work without a generator but I have gravity flow. We'd have to ration water to last for the long haul.

I'm not sure if I can survive without power. But I know I have no chance of survival without the 2nd Amendment.

 

[backhoeboogie]

Yes My house is fully modernized. Total electric. But I have a wood stove I can use. Have several oil lamps. Have several Coleman lanterns - gasoline compatible. Coleman Stove. Generators. Welder that can become a serious generator. Have propane deep fryers. If I can defrost the meat, I could feed an army in a crisis. Have options on how to cook it.

Water tank only has 1200 gallons from the deep well. Booster pump wouldn't work without a generator but I have gravity flow. We'd have to ration water to last for the long haul.

I'm not sure if I can survive without power. But I know I have no chance of survival without the 2nd Amendment.

Agreed. I could defend my loved ones for a long while. Would hate to have my 2nd Amendment cache wind up in the wrong hands if I were taken out.

 

[Stocker Steve]

S&L failure triggered a big devaluation for years, there is a small tract near me still for sale by an old couple that want way over going price.
They can't understand that what they paid for it has never caught up.
They paid 5k an acre going rate for a good tract is only 4K today
The high interest rates of 16% in the 70's killed land sales
as well causing prices to fall. No one wanted to take on that note in a recession from heII.

The land price reductions here are limited. Most folks just hold for a historical price, or a price higher than they paid, like your "old couple" example.
A few outside investors do show up. Talking heads say they are concerned about potential stock price declines, and want more real estate in their portfolio. I wonder if these new buyers expect a double digit return, or expect stable value.

 

[greybeard]

I just couldn't bear to read thru all this stuff. What or why would anyone need or want with a refrigerator with a TV inside?? The milk, celery, and eggs don't give a crap who wins Wheel of Fortune.

(I'm typing on a 3 yr old Lenovo laptop that I bought new for $300 at Best Buy and I can stream anything I want with it--wife has a Toshiba that cost about the same and does just as good as this one)

 

[ALACOWMAN]

I got underwear that's hanging by threads , when I'm done with something it's over with... You can bet its ready to run across the scales....

 

[ga.prime]

It started out a camera in a refrigerator, now it's a TV?

 

[Jogeephus]

It started out a camera in a refrigerator, now it's a TV?

No it started with a free phone. Now its going to be everyone is entitled to a refrigerator with a television in the door. And as for the phone, I would have gladly given someone $100 yesterday to take my phone off my hands. These cursed phones don't care what day of the week it is or what you are doing.