retirement concerns

[olds442jetaway]

I don't like to, but I call it the double D. Debt=Death at least financially speaking.

[billryan]

-in the usa, there is more than $63 trillion of combined public and private debt.

-there is only $3.8 trillion total dollars in circulation.

-each dollar in circulation has been lent/borrowed more than 16 times.Why else does currency exist?   What should one do with theirs? Bury it? Put it under ones mattress?  Isnt lending money at profit the basis for our economic model?

[notes1]

weren't you the one that complained about selective editing? by leaving out the significant fact that world wide debt is three times the levels of the credit crisis, does that not make you a liar?


b/t/w, I did not draw any conclusions or state any opinions. as usual, you are looking to pick a fight with someone....anyone.

[billryan]

No, I didn't selectively edit anything to change its meaning. I ignored half your ramblings because they weren't relevant.
I'm fairly confident you know the difference.

[notes1]

world wide debt is 3 times the level of 2008-09 credit crisis is not relevant?

ramblings...I simply reported some facts that others might find interesting. I don't think you know the difference.

[billryan]

To the point I was making, worldwide debt could be half doubled or quadrupled. It's irrelevant to the discussion.

[notes1]

I know the point you were making and the large increase in debt is certainly relevant to the discussion. using the very same metrics you used to judge others, it appears to me to be a fib.

i do not tell others, on this site, how to play VP or invest their money. but, there are absolutely times when having significant sums being in cash (under the mattress) is the best option. and, the author of this article, right or wrong, is arguing the world is awash in debt and those who invest in debt, should be cautious.

if you wish to ignore the warnings, fine with me, but remember, no one thought homes would drop in value and home owners (debtors) would ever walk away from their obligation.

[billryan]

Whatever. As if I'm supposed to care what you think. Keep your cash under the mattress if that's how you choose to roll.
I just don't get how you harp on the lack of interest being paid yet advocate keeping cash

[billryan]

  Met a 70 year old with one leg yesterday. I'd seen him at a few auctions the last couple of weeks and yesterday we talked during a down period while the auctioneer struggled with the internet connection. He started doing them 12 years ago after he retired. At first it was all for fun, but he m ade enough now to buy a separate  auction van and to hire a guy the day after the auction to pick the stuff up and take it to his garage. We didn't discuss how well he does, but I've seen him spend well over $3,000 since I first noticed him.