Where Will America’s Sick Obsession With Wealth And Money End?

[al audi]

http://theeconomiccollapseblog.com/...icas-sick-obsession-with-wealth-and-money-end

this blog is so underrated

 

[luckyluchiano]

I always said American culture is about hoarding wealth, like people will make 500 mill and still want more money, I'm like hell 100mill is enough to provide all of the ppl that come after you the opportunity to succeed and be comfortable in life. Like I understand it's the peoples money and they can do what they want but it's mind blowing that people will spend 1 mill on a Bugatti and like that cars cost can pay the college tuition for like 1 or 2 hundred kids

 

[360waves]

it will never end, it will collapse

 

[al audi]

I always said American culture is about hoarding wealth, like people will make 500 mill and still want more money, I'm like hell 100mill is enough to provide all of the ppl that come after you the opportunity to succeed and be comfortable in life. Like I understand it's the peoples money and they can do what they want but it's mind blowing that people will spend 1 mill on a Bugatti and like that cars cost can pay the college tuition for like 1 or 2 hundred kids

agree with you 100%

its like when i joke about hitting powerball on here when it gets high, id legit help out fellow NTrs i interact with all day

mind blowing indeed brah

 

[fontaine]

Easy to talk about people with money when you don't have their money...

Not directing this at y'all... Just saying you never truly will know because its just a different life.

Also... Some People that obtain certain amounts of wealth get there due to the personality...

Money doesn't change you. .

Just magnifies who you are.

 

[offbad]

it will never end.

it will never collapse. 

USA forever. 

 

[luckyluchiano]

Easy to talk about people with money when you don't have their money...

Not directing this at y'all... Just saying you never truly will know because its just a different life.

Also... Some People that obtain certain amounts of wealth get there due to the personality...

Money doesn't change you. .

Just magnifies who you are.

The issue with America is the more money we get the more debt we incur. Dudes will make 10 mill and instead of buying a nice 500k huge home cash they will buy a 5 mill mansion on mortgage that takes another 10k a month to maintain. Bill gates leases Toyotas while dudes with 500k 360 record deals copping maybachs

 

[shotsrangout]

gluttony

 

[nazdrowie]

[h1]America’s credit card addicts just relapsed[/h1]
By Matt Phillips @MatthewPhillips 5 hours ago

America’s addiction to credit cards is flaring up again. This is either really good news or really bad news.

As we’ve told you before, one of most unappreciated shifts  in the American financial landscape since the financial crisis hit has been the downturn in credit card usage.

Why the shift? A big reason has to do with sound public policy designed to prevent predatory lending. The passage of the US Credit Card Accountability, Responsibility and Disclosure Act—the CARD Act—in 2009, and its 2010 implementation, completely reshaped the American credit card industry. Here’s some of what the CARD Act did:

• Blocked credit card companies from extending credit without assessing the customer’s ability to pay
• Implemented rules on marketing to people under the age of 21 to crack down on abuses at college campuses
• Limited a credit card company’s ability to levy penalty fees
• Restricted the circumstances in which the company could jack up interest rates

So is an increase consumer credit use good news or bad news? Well, if you’re simply rooting for GDP growth, without regard for how it occurs, you can argue that this is a great sign. Roughly 70% of US economic activity is driven by consumption. And a rise in credit card use suggests that consumers are ramping up their buying. (Other data, such as the  worsening US trade balance on higher imports  of consumer goods  (paywall), would seem consistent with that view.)

But if you care about the long-term sustainability of US economic growth and thefinancial health of American households, it’s not particularly heartening to see signs of backsliding into a widespread reliance on credit cards.

http://qz.com/218496/americas-credit-card-addicts-just-relapsed/

 

[offbad]

 

Easy to talk about people with money when you don't have their money...

Not directing this at y'all... Just saying you never truly will know because its just a different life.

Also... Some People that obtain certain amounts of wealth get there due to the personality...

Money doesn't change you. .

Just magnifies who you are.

The issue with America is the more money we get the more debt we incur. Dudes will make 10 mill and instead of buying a nice 500k huge home cash they will buy a 5 mill mansion on mortgage that takes another 150k a month to maintain. Bill gates leases Toyotas while dudes with 500k 360 record deals copping maybachs

i don't get the point of your post.

steve jobs leased an SL55 amg every 6 mos. does that make him better? 

inb4 apple vs microsoft

 

[fraij da 5 11]

I'm having a hard time believing that the AVERAGE new home build is topping 2,600 sq ft...

I'm going to contract on a build for my new home soon and its a 3br 2ba at just under 1,300 sq feet and it's more than enough space for me.

 

[luckyluchiano]

i don't get the point of your post.

steve jobs leased an SL55 amg every 6 mos. does that make him better? 

Did Steve jobs make 500k?

 

[offbad]

 

i don't get the point of your post.

steve jobs leased an SL55 amg every 6 mos. does that make him better? 

Did Steve jobs make 500k?

but why is it that specifically leasing a toyota makes bill gates your hero? 

 

[celticspride34]

I always said American culture is about hoarding wealth, like people will make 500 mill and still want more money, I'm like hell 100mill is enough to provide all of the ppl that come after you the opportunity to succeed and be comfortable in life. Like I understand it's the peoples money and they can do what they want but it's mind blowing that people will spend 1 mill on a Bugatti and like that cars cost can pay the college tuition for like 1 or 2 hundred kids

agree with you 100%

its like when i joke about hitting powerball on here when it gets high, id legit help out fellow NTrs i interact with all day

mind blowing indeed brah

Same here.. I'd really buy all those Hellcat, too... I've done some, not much but some, grimey stuff.. And I'd feel super guilty if I had that much money and didn't help people out.. I'd Def get back all the people I screwed over...

 

[luckyluchiano]

but why is it that specifically leasing a toyota makes bill gates your hero? 

Who called him a hero? Sit down somewhere

 

[treystylezpopz]

If you think America gas a financial problem... It doesn't.

If you think the dollar will magically devalue itsself.... It won't.



Its all just a ploy to keep the average American at bay.


If you want a million dollars or wealth in general you have more than enough opportunity to do so. Its essentially up to you.

No it will not be given to you be any means because it won't be at the best interest of the country as a whole.

You can gripe and complain all you want but that's what they want you to do.


I agree with Luciano 100%. If I hit a 100 million and I had to bust my *** to get it. I rather sit back and enjoy the fruits of my labor rather than to try to make more money than is necessary for my own being. I guess you grow some sort of insecurity or greed. Idk my fortune has yet to manifest so I'm on the outside looking in.lol

 

[SoleByThePound]

it will never end, it will collapse

This and it is crumbling before our very eyes.

 

[offbad]

 

but why is it that specifically leasing a toyota makes bill gates your hero? 

Who called him a hero? Sit down somewhere

i mean why reference that as a point then if he doesn't add to your argument? 

 

[cashbanks]

i mean why reference that as a point then if he doesn't add to your argument? 

you just want to argue huh?

 

[luckyluchiano]

i mean why reference that as a point then if he doesn't add to your argument? 

When did I reference him as a hero?
View media item 1016789

 

[offbad]

i just don't understand the point of saying "oh look at bill gates, he leases toyotas"

is that something you wish everyone would do?

is that something you yourself aspire to do?

maybe he's not your hero, but clearly he is not the antagonist the way you worded your statement. 

 

[airedweezy]

Never end bros

We are consumed by greed, materialistic stuff and outdoing one another.
Everywhere you look we get bombarded with this idea.

Ask yourself why do we always need to know how much a celeb or this person makes like if so and so made 500 mill last year wha does that have to do with my life.

 

[Mark Antony]

i just don't understand the point of saying "oh look at bill gates, he leases toyotas"

is that something you wish everyone would do?
is that something you yourself aspire to do?

maybe he's not your hero, but clearly he is not the antagonist the way you worded your statement. 

I think people who like to point that out have no point or purpose, and more than likely indulge in an excess of their own in their personal life. Somehow it makes them feel like it gives THEM the this false impression of fiscal responsibility just by saying it. Dig into their lives and I'm positive you'll see different, its clear. Using someone else's money to make your point.

 

[6 Rings G.O.A.T.]

it will never end, it will collapse

 

[luckyluchiano]

I think people who like to point that out have no point or purpose, and more than likely indulge in an excess of their own in their personal life. Somehow it makes them feel like it gives THEM the this false impression of fiscal responsibility just by saying it. Dig into their lives and I'm positive you'll see different, its clear. Using someone else's money to make your point.

Obviously looking too deep into something. There are people who incur more debt than they need when they get money and there are people who don't. Once agin NT Cats writing books when it's not serious.