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Will US economy collapse under its own debt?

 
 
cicerone imposter
 
  1  
Reply Wed 3 Jul, 2013 06:43 pm
@engineer,
I paid off our mortgage when I retired in 1998.
engineer
 
  1  
Reply Wed 3 Jul, 2013 06:56 pm
@cicerone imposter,
I keep thinking about trying to pay mine down more quickly, but I've got a 2.75% loan rate and where can I get money that cheap? Plus I've got four to put through college so the mortgage is just going to have to wait, just like the federal debt. Smile
cicerone imposter
 
  1  
Reply Wed 3 Jul, 2013 07:18 pm
@engineer,
We all need to balance our expenses, current and future, against our debts, then make a guess as to the best approach.

What I have found to be true is that saving for that rainy day and retirement are paramount.

I've always told our two boys I expected them to go to college. When our older son was 16 years old, I took him to an investment institution, and the broker was good enough to explain about the stock market to him. I let him invest his college funds, and he did quite well for awhile. To make a long story short, I paid for his college tuition and room and board while he was in college until he earned his BS degree. 27 years later, he's now working at UOT in Austin (where he earned his MS), and we still help him financially.

Life's lessons are not easy and they are unpredictable.

engineer
 
  1  
Reply Wed 3 Jul, 2013 09:39 pm
@cicerone imposter,
Nice job in ensuring that you are in a position to help both him and yourself in retirement.
cicerone imposter
 
  1  
Reply Wed 3 Jul, 2013 10:03 pm
@engineer,
I've lived a pretty good life - and still do. I travel around the world 5-6 times a year. I've been to Cuba, Mexico, Hawaii, Portugal, Cuba, and Mexico this year, and will be going to Nova Scotia in September, and an AMA Waterways cruise from Budapest to Prague in November.

BTW, you can visit my travel blog at www.travelpod.com/members/c.i.222



0 Replies
 
forextraordinaire
 
  1  
Reply Fri 25 Oct, 2013 04:20 am
@neologist,
Ouch!! That's quite a figure.. By the way did you calculate it yourself?
neologist
 
  1  
Reply Fri 25 Oct, 2013 11:20 am
@forextraordinaire,
No. Waited for maxdancona to figure it.
'Course. The debt is about 1 trill higher now.
. . . . . . . . . .
0 Replies
 
maxdancona
 
  1  
Reply Fri 25 Oct, 2013 02:09 pm
@cicerone imposter,
If you don't have any debt, why do you care about your FICO score?

Your FICO score is meaningless unless you take on debt. It doesn't benefit you any more than my 294 in video bowling benefits me.

(BTW I am very proud of my high score in video bowling)
neologist
 
  1  
Reply Fri 25 Oct, 2013 02:13 pm
@maxdancona,
maxdancona wrote:
If you don't have any debt, why do you care about your FICO score?

Your FICO score is meaningless unless you take on debt. It doesn't benefit you any more than my 294 in video bowling benefits me.

(BTW I am very proud of my high score in video bowling)
Geezer's prerogative: Brag on anything you got left.
cicerone imposter
 
  1  
Reply Mon 4 Nov, 2013 02:18 pm
@neologist,
The US debt will not sink our country. Most of the idiots who keep saying it will do not understand economics or government fiscal management.

Our national debt as a percentage of GDP is dropping. There is no crisis.
0 Replies
 
cicerone imposter
 
  1  
Reply Mon 4 Nov, 2013 02:21 pm
@maxdancona,
My FICO score provides me with interest free money for one year, but I don't need to borrow money.
neologist
 
  1  
Reply Mon 4 Nov, 2013 02:53 pm
@cicerone imposter,
cicerone imposter wrote:
My FICO score provides me with interest free money for one year, but I don't need to borrow money.
HMMM! Can you loan money? Laughing Mr. Green
0 Replies
 
maxdancona
 
  1  
Reply Mon 4 Nov, 2013 03:40 pm
@cicerone imposter,
Quote:
My FICO score provides me with interest free money for one year, but I don't need to borrow money.


My point exactly. It's useless to you (except for your sense of self-esteem).

cicerone imposter
 
  1  
Reply Fri 8 Nov, 2013 08:26 pm
@maxdancona,
Self esteem? LOL

The fact that we have enough resources that we don't need to borrow money IS self esteem. What's yours? Mr. Green
0 Replies
 
Pamela Rosa
 
  1  
Reply Mon 12 May, 2014 06:50 am
Research Date: 1.1.2014
Annual spending power for African Americans $1.2 Trillion
($1.2 Trillion = $1,200,000,000,000)

Revenue generated by African American owned businesses $71,200,000,000

http://www.statisticbrain.com/african-american-black-statistics/



Da liegt der Hund begraben
0 Replies
 
 

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