Debunking the struggling middle class Joe

actually pretty sad. at least 2/3 of our economy is a self eating watermellon. It is based on what qwe spend, so if we all save 10% then our economy goes down 10%, Or whatever 2/3 of 10% is (dixie can fill that in) layoffs happen, thus less to spend, thus it falls farther, etc...
 
Topspin said:
You guys must have huge gas tanks, price is down to about $2.15 around here. Dam

There are 8,000,000 millionaires.
My question to the whinners is why don't you invest more than 10% of your take home.
Click to expand...

http://www.eia.doe.gov/oil_gas/petroleum/data_publications/wrgp/mogas_history.html

Click on regular. In the Excel worksheet on the second tab, scroll down to the Clinton years B442. In Feb of 99 the average price for gas was $0.89. Continue to scroll down toward the Bush years. B783 - gas prices in Sep 05 went up to $3.04.

Again, I say to you: "and gas prices have almost tripled since Clinton left office,"

Are you implying, that I'm wrong?
 
Topspin said:
You guys must have huge gas tanks, price is down to about $2.15 around here. Dam

There are 8,000,000 millionaires.
My question to the whinners is why don't you invest more than 10% of your take home.
Click to expand...

If it includes their home appreciation, I've already shown how that's misleading.
 
Lady T, how convienient you pick an unusually low year.
Go back to the 80's and gas has gone up way less than general inflation.
Take out home equity, for net worth. LOL
So If I have a million dollar house and no morgate you don't want to count that wealth. Tell that to the property tax guys'
 
Not many guys with a million dollar house has no mortgage. If they do thys don't worry about much anyway.
Some with a 500k mortgage now have a house now worth 400k.
And they have been using "creative financing" and paying no pricipal....
 
Topspin said:
Lady T, how convienient you pick an unusually low year.
Go back to the 80's and gas has gone up way less than general inflation.
Take out home equity, for net worth. LOL
So If I have a million dollar house and no morgate you don't want to count that wealth. Tell that to the property tax guys
Click to expand...

No, I specifically stated you have to take in to consideration the remaining principal AND how much equity you have in the house. If I'm in the first year of an ARM and I've only paid interest on my house, how the hell can that be considered an asset in determining my net worth? That's called debt. I specifically made exception to the condition you mentioned.

LadyT said:
To truly get an idea of a person's net worth inclusive of their home, you'd have to take the market value of the home, take out equity and the outstanding principal. What you're left is their true net worth.
Click to expand...
If you don't have a mortage, yes: The entire value of your house should be considered a part of your assets.
 
Not many guys with a million dollar house has no mortgage. If they do thys don't worry about much anyway

You'd be really stress free if you had the mill in financial assets and no mortgage :-)
 
Topspin said:
You guys must have huge gas tanks, price is down to about $2.15 around here. Dam

There are 8,000,000 millionaires.
My question to the whinners is why don't you invest more than 10% of your take home.
Click to expand...

This is quite amazing. In the first place gas prices are widely different in different locations. Here gas is still well over $2.50 at most stations. I have seen one or two with $2.49.9.

And saying there are 8 million millionaires is quite deceptive as well. As MR. SPIN may or may not know, the population of the US has recently exceeded 300 million. So 8 out of 300 is less than 3% of the population. Roughly 2 3/4 percent of the total population. But hey if 2 percent of the population can do it it should be so easy that everyone can do it right SPINNER! I mean 98 percent of the population aren't millionaries so they must all be really fucked up huh, SPINNER?????? Jesus what the hell is wrong with that other 98 percent. Don't they understand how easy this whole millionaire thing is???? How can you have a country where 98 percent of the population are too stupid to become millionaires when money grows on trees and all you have to do is save 10 percent and you will automatically become a millionaire. What is wrong with this other 98 percent??? No wonder the country is going to hell in a hand basket. 98 percent of the population is too stupid to be millionaires. My-Oh-My!!!!
 
Prak, I have had this same argument with Spinner many times, as I said before his moniker is topspin for a reason. His motto, if you ain't ritch you are stupid.
I have long since given up on this argument with him.
 
the loser circle jerk with you two.
You never heard me say too stupid to do it.
To undisciplened is what its is, most people would rather not have to wait for the plasma tv or new car every couple years.
I never ever say what they should do, just what they can.:clink:
 
Topspin said:
the loser circle jerk with you two.
You never heard me say too stupid to do it.
To undisciplened is what its is, most people would rather not have to wait for the plasma tv or new car every couple years.
I never ever say what they should do, just what they can.:clink:
Click to expand...

So exactly why is it that the other 97.25 percent haven't become millionaires???

According to your theory. Are you saying that only 2 percent of the population has any discipline? How is it possible to run a country when only 2 percent of the population have or execise any discipline?

This ought to be good!!!!!!!
 
your really a dipstick you know.
AGAIN, I never said anyone SHOULD be a millionaire just that they could.
Also it takes time, took me over 20yrs of disciplined investing.

Some people are disciplined in their craft or hobby and could give to shits about being a millionaire.
Why you hold to this point that it's soo hard to do if there are 8 million of them
 
Topspin said:
your really a dipstick you know.
AGAIN, I never said anyone SHOULD be a millionaire just that they could.
Also it takes time, took me over 20yrs of disciplined investing.

Some people are disciplined in their craft or hobby and could give to shits about being a millionaire.
Why you hold to this point that it's soo hard to do if there are 8 million of them
Click to expand...

Why do you hold to the point that it is sooooooo easy to do if there are 292 million who aren't. What do you think the relation is between those who are and those who aren't?
 
Ahh yes a million dollars is worth what in 1960 dollars? Being a millionaire just does not mean what it used to ;)
Perhaps you have to be worth 5 or more million to be that same as millionaires jused to be. Imagine letting all that trashy riffraff into the millionaires club now-a-days.
 
I said it was easy, I didn't say it was fun.
I've lived way below the means of my salary my whole career, coworkers always having way more expensive cars, houses etc.
I was born poor so it never bothered me. I'll prob leave 75% to my kids anyway.

But look around you, how many of you friends and aquantances have too much debt, from cars, houses, credit cards.
That's the reason that the number isn't like 40% instead of 3%

Piece,
and legalize marijuana tax it and eliminate the national debt
 
Spin what would it take to = a million dollars in lets say 1960 ?
the millionaires club has gotten cheaper.
I think that percentage of millionaires needs to be adjusted for inflation.
 
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did you hurt youself with that one, there is inflation every year.
The article states salary's are up 25% adj for inflations.
 
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