Yep…now is the time to be taking out debt to buy investments on the cheap…saving is all but pointless at this stage in the cycle. However it could serve as a rare opportunity for the middle-class person who makes wise investing decisions to pull even with the rich person that has their money in a mattress or savings account, since your net worth during an inflationary period is all about “what have you done for me lately?”
There are service jobs worth $30 an hour, like RN’s and PT’s and financial advisors and master plumbers and electricians, and there are many more service jobs that aren’t. Unfortunately for a big portion of society, the type of job disappearing is the job where you make a decent living wage with a high school education or less. That’s really what’s been hastening the rich/poor divide since the Reagan era.
I find the cost of higher education to be misaligned with the expected earnings here myself. JMHO.
I don’t agree that formal education has been the divide of rich/poor. I feel it’s the volatility of our “assets” which we pray will appreciate, giving us capital gains to live off. So lack of financial smarts leading to improper investments is the cause for divide IMO. The majority of people have 0 savings. Those that do save have crappy investments generally speaking. Those that claim they are diversified have all paper assets of differing sectors…that’s not diversification in reality.
YADA YADA…you get my point and I get yours.
Added—
I guess my brain ain’t done. LOL
So about this wealth divide…
It’s also tax loopholes and preferential tax treatment business get that workers income is not entitled to causing this gap.
It’s the way middle class borrows to buy TV’s and depreciating items while the rich borrow to buy items that provide cashflow.
It’s a stacked system where we are to stay educated in schools that make us good workers, not good financial minds or business minds.
Great…some have finance degrees. If they taught people correctly those graduates would be running their own biz, taking advantage of tax laws instead of making money for the system IMO.
All JMHO. WTF do I know, I have no formal education right?
Joe…we gotta get drinks some day and shoot the shit. Though we see different theories we both agree that there is GOOD debt and the new wealth will be created by using it. You have alot to offer me if you were inclined to share your knowledge.
Bottom line is this…you can get rich from deflation OR inflation if you’re timing and strategies are right. Volatility is what creates wealth and transfers it. The sad reality is there is a winning and losing side, which do you want to be on? EDUCATE yourselves about the economy and finances, don’t rely on an “advisor” to lose your money for you when you can do it yourself for free and save the fees. LMAO.
No that’s probably due to restructuring/dumbing down the jobs, or replacing one job with many, and it’s probably a bad decision by a company looking for a short-term profit boost. But with the population of soon-to-be-old people, there will be no problem finding a job for aspiring RN’s.
