Are most American's under 35 really this poor?

Are most American's under 35 really this poor?

Mind you this is net worth, which means all assets liquidated and debts paid.


fool.com/investing/general/2015/05/17/americans-average-net-worth-by-age-how-do-you-comp.aspx

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nerdwallet.com/blog/average-credit-card-debt-household/
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yeah, surprising isnt it? but when you realize actual poverty rate is around 12% maybe not. its the tax cuts create jobs dogma pushed by the ideologues, that actually creates this

Is this debt even somewhat sustainable for American households? What about the looming college loan crisis, there is no collateral on these loans, how will a default even work?


nerdwallet.com/blog/average-credit-card-debt-household/

Are tax cuts to blame or rampant inflation of the money supply? As we know, those in the financial industry get first dibs on new bills (which have pre inflated value) and most of that is put into the stock market.

Effectively destroying your and I's purchasing power, this is taxation without representation. The goddamn Fed isn't accountable to the American people. Then to top it all off, the system comes crashing down and those to blame are bailed out by the Socialist government run by Obama, further ruining the purchasing power of the lower classes.

Nobody finds this shit interesting?

HAHAHAHA
I'm worth $250,000 and I'm only 22.

>Coming of age in economic turmoil
>A large portion took non-defaultable debts
>A large portion are not "middle class" employable

I don't know why you're this surprised.

Why don't we just print our own money like how the US Constitution says we can? Instead the government borrows money from the established Jewish central banks.

Lets talk about Hitler's accomplishments with Germany's economy. The responsible for the post-war hyperinflation was not the German government, but rather the privately owned central bank in Germany, and its monopoly it had over the creation of money. Germany’s economy was crashed and devastated by bankers, until Hitler arrived.
After Hitler was elected, refusing to comply with the Rockefeller-Rothschild rules, one of the first things he did was fix the corrupt, debt-based financial system. By completely thwarting the international banking cartels. The Nazi government issued its own currency known as Reich Marchs, which were debt free and uncontrollable by international financial interests.
Debt Free Finance = Freedom

If America nationalized their currency as Hitler did for Germany, they would effectively sever all ties with international bankers, the manipulation of their government and economy would cease, and they would live debt-free. Just as Hitler issued debt-free currency for Germany, Abraham Lincoln setup an interest free banking system in the United States when he was President, and he was murdered for it. Former US president Andrew Jackson issued interest-free currency, and two shots were fired at his head in an assassination attempt, but the shots misfired and he survived. John F. Kennedy issued interest-free currency during his presidency and we all know what happened to him.

After Germany’s public banking system was installed, world Jewry responded by declaring war on Germany, including a global boycott of German goods. Within two years, the German economy was flourishing with its new-found stable, and inflation-free currency.

pol is for nazi poseurs to out edge each other, not to talk about actual economic or political issues in reality

The government borrows money from the whole world. The Federal Reserve only has around 10-15% of US National Debt and they pay the majority of that interest back to the Treasury. The rest of it the government actually has to pay for.

The rest of the world also has a Rothschild central bank.

While I think something like bitcoin is a better solution, a nationalized currency would certainty be better than what we have now.

We do print money you fucking mouthbreathing moron. Printing our way out of this would result in making the dollar worthless. Go look up "Weimar Republic" for an example of why you're a fucking retard. If your weak brain can handle google, and words longer than 3 letters.

The majority of central banks are publicly owned, the Fed is a rare exception.

>Worthless educations
>Low job rates for even high skill graduates
>High five figure debt for average 4 year grad
>Most 4 year grads don't land jobs that make over $40k/year
>Middle class labor is all but dead
>Most Millennials living off of residual wealth from their parents

Buckle up because we're going to crash soon, and hard. I thoroughly believe once the student loan debt bubble pops that most of our economy will go down in flames, and the lefties will try the never ending bailout method that they've fucked everything else up with and fail the state unless we can somehow build a functional infrastructure again during the Trump years.

That's the worst part of all this. Trump and capitalism are going to be blamed. When none of these fucking results are from mechanisms in capitalism.

The student loan bubble isn't going to pop, as it's all government backed now. They will cook the books and lower payment plans (but extend the life of the loan), they won't let it pop. They did the same thing for mortgages, and would have done more if they'd had the ability.

What's gonna kill the economy is the Fed Reserve. They could raise rates and make the whole thing come down.

They put all their faith in winning a war. They tried to buy more and more international currency with their own currency essentially borrowing it. Of course that'll lead to hyperinflation you fucktard. How was Hitler able to stabilize that same economy within 2 years?

Well, he did steal a whole lot of Jewish property. Though I'm not so sure that had an overwhelming effect on the economy. Maybe it did idk.

I don't give a flaying fuck about Hitler, faggot. I'm talking about why WE don't print our way out of debt.

This is the end product of half a century of dumbing down the common man. I'm a bit older, and a lot of Sup Forums is too for that matter, but I like to at try and keep in touch with the younger generations and many of the recently graduated high school kids, and kids currently in high school are taught literally nothing of value. It used to be that college was when the worst of the indoctrination happened, but apparently there is no escape from any of it now.

Government backed merely means taxpayer backed. Nothing can be taxpayer backed if out debt to income ratio is so out of proportion that people literally could not pay it back and feed themselves at the same time if they wanted to. There's a few different ways this could play out depending on how the next few years go, but literally none of them are really very good.

Government backed means they have 100% control over cooking the books and changing the rules. That's why the student bubble won't be allowed to pop.

And what do you expect with kids? None of them have lived in a world where a savings account gives more than 1% interest. They have no incentive to save, and are surrounded by people yelling at them to spend, spend, spend. Spending yourself into hopeless dent is normal for them.

I was raised by a father who refused to have car payments. Luckily he made enough to pay cash for new cars. I never understood that, until I was in my early thirties and took on a car loan that sucked up a quarter of my income every month, when my financial situation changed. That monthly killed me for two years.

I was taught the basics when I was a kid. We were taught the basics of interest rates, how to manage a bank account and checkbook, and how to budget. This was in the 70's. As early as the 80's, when my younger brother and sister made their way through school, that kind of thing ended. Now they're encouraged to be debt slaves.

>net worth
>liquidated assets
I'm 24 and I have zero idea what the fuck any of that shit means. That's probably why we're all poor.

I'm not necessarily advocating that we should. I think we're talking about two different but similar things.

Means your car, your house, your tv, ect turned into cash.

I suddenly fee like a youngfag.

I had the good fortune of having heavy influence in my young life by older people, and by being blessed with enough intelligence to ensure I would never be happy. The result however is that I can see the cage that we younger people are in, no matter how pretty they decide to make it look.

As a (relatively) young man (the older you get the more that young scale slides) I can see that there isn't much of anything in society to motivate young men anymore. All that's left are things. Money. Travel. Things you spend money on once and don't last. However everyone is also mindlessly enamored with these concepts. We have become truly lost to the ideas of cost and value. Insofar as we know the cost of everything and the value of nothing, and proceed to value nothing and in turn continue to sell the most valuable things for more shiny baubles. A college education used to mean you learned something, now it's been relegated to a fancy piece of paper and a collar of debt to carry for the next several years.

New phones, new cars, new computers, new clothes... but no families, few friends, fractured relationships for the ones we do maintain. It's a systemic crash campaign if it's anything.

I know everyone I know thinks I am crazy but I honestly think if we made some sort of alternative to paying off student loans, like maybe transform them into housing loans or had a 50 year Jubilee where we just wiped them all away in a bailout we would see an economic and baby boom unseen since 1950.

well it includes children and students, no?

How much Federal tax did the Federal Reserve pay on profits it made?

2015?
2014?

>have $60k students loans
>make $36k as an intern

Yeah, I'm not even at the median.

Average American student loan debt for a 4 year is $79k, so you're not as bad off as you think.

Federal Reserve is a privately held company. It's balance sheet isn't available to the public.

dump as much money as you can in an IRA (or any related accounts like that) and max your contributions. Live below your means, pay off your debts and I think you'll survive.

its actually typical of developed countries

it only sounds huge because our economy and population are large

Just broke $900,000 in net worth. Next stop being a millionaire. Pure Aryan blood must help.

It doesn't surprise me. Everyone I know lives paycheck to paycheck except autists like me who don't live beyond our means.

I make very little money but I have saved up $50k. However, it's all liquid. No car, no property, no loans, no debt. Have free obamacare insurance (if they're wasting money it may as well be on me).

Only person I know under 30 who's worth more than me is my similarly autistic friend who actually has a real job. He also has no car, no student loans, and no property.

>assets
Shit you own.
>liquidated
Converted into cash.
>net worth
your cash + your liquidated assets - your debt

Easy to have a negative net worth with student loans and car loans. Many live on credit card debt too, which is really a disaster.

Kek

>(if they're wasting money it may as well be on me).

Literally me. I'm in college using the GI Bill. So I get a small tax free income every month. I took an income based apartment, so rent is practically free, plus free health insurance.

In principal in reject these welfare systems. But for the that very reason I'm going to exploit them because they are fundamentally flawed.