Here is one more article, from none other than the IRS, that confirms previous posts such as the one on 41 million Americans not being able to afford the basics:http://rawstory.com/news/2007/Wealthy_grabbing_larger_share_of_US_1012.html Compare the information in the link above to the information listed in this link:http://forums.digitalpoint.com/showthread.php?t=509691 I guess the numbers from the IRS are wrong, or the IRS is just a bunch of liberals, right Gtech? Yep, it sounds like the American economy is doing great, and we sure have a strong Middle Class....... This is just one more article in a mountain pile of documentation which reveals the true nature of the U.S. economy. The rich become richer, the poor become poorer, and the Middle Class is getting wiped out............the perfect recipe for a third world country. If you guys want to know what it is like to live in Uganda, Paraguay, or other third world nations, stay tuned, we'll get there in about ten years...........read the passage below in bold very carefully, which was taken from the article: new IRS data shows the top 1 percent of Americans are claiming a larger share of national income than at any time since before the Great Depression. I think this is a dire prediction of the future. Sounds like history "might" just be about to repeat itself yet again.
Income inequality is going to get larger as we move deeper into an information-based economy. Knowledge isn't just power, it's money. It looks like I'll be making $30k this month from AdSense alone. The folks who don't embrace technology are slowly making themselves obsolete. This particular rise in the stats is due to the stock market rise caused by the Bush tax cuts. Not a lot of mystery there. However, we should expect this to continue for the next few decades due to structural changes in the economy resulting from technological shifts.
Amen to that. This is exactly why I've accelerated my reading over the last six months........and I'm about to finish reading "Predatory Marketing" by C Britt Beemer........hell I've even set up a budget on Amazon to purchase books off my wish list.........and I have one hell of a wish list..........I read non-fiction, because I don't have time to waste on fictional fantasy books. I went to a seminar a couple of years ago, and a millionaire said the same thing you said..........he basically said that knowledge is both power and value. The only place where you can get knowledge is through lots of reading. Since 1/4 Americans didn't read a single book last year........It sounds like guys like you and me have them beat:http://forums.digitalpoint.com/showthread.php?t=446663 I see it with people in my own family. They never read. I got a uncle that is always asking for money, recently asked me to borrow money, because he is in debt and running from bill collectors. I told him NO, but I would send him a BOOK on how to make/save money..........and you know what he does? He insults me and hangs up the phone. LOL, people like this are the slaves of tomorrow. They have no idea that their days are numbered. My uncle is stupid enough to believe that just because he is in his forties, and I'm only 25, he has no need to listen to anything I have to say. That fool doesn't realize that in five years he'll be begging me for a job...... You see, it doesn't matter how old you are, or how much you think you know. When you go up against someone in business who is very well read and informed, its liking putting a lamb against a lion, the end result is predetermined. I will continue to increase my knowledge, and I'm also willing to pay hefty sums of money to get information, so long as it is valuable. The way I see it, the U.S. is going into a Depression, and the Middle Class is getting wiped out. You can either prepare for this and survive and prosper, or you can end up in poverty. There is no way in hell I'm getting caught without a knowledge of technology, information, or the resources necessary to afford it. This is the ultimate truth. Technology is everything, I consider it to be a god, and I'm not religious. I'm personally saving much of my money for the TRUE technologies(internet, biotech, nanotech, life extension, cybernetics, quantum computers). While these bird brain idiots today blow $500 on stupid crap like Iphones, PS3s, and Xbox 360s, I'm saving up so I can invest in the serious technology, the stuff that will change the world. Will, I bet you own a lot of gold and silver, because through reading, you're probably well aware of that the fact that paper money loses its value through inflation..........I've tried telling this to my hard headed family, but most of them are so broke it wouldn't matter because they can't afford to buy it anyway. I firmly believe the country is headed toward a Depression, but I also believe people such as yourself will thrive through it because you have an edge in knowledge and understanding. Now thats impressive, and I want to reach that goal in the near future, though not necessarily through Google Adsense. I wouldn't want to make that much through one source, especially knowing Google could ban my account suddenly....but thats phenomenal nonetheless.
I don't know, I got these guys xbox 360 as collateral for a loan, and its a pretty good investment, a lot of entertainment for not that much money, if he ever comes up with money to repay me, I think I am going to have to buy one
Ferret77, your situation is different from say, my brother, who pays retail for a game system that won't be worth anything in six years. You're actually using it for collateral for a loan, which is a brilliant business move, because if you don't get the money back, you have something of value. I also admire those guys who got the PS3 when is first came out, who had know intention of keeping it, but turned around and sold it for $2,000 through Craiglist. Those guys are smart, the ones who got in line at the store to buy the PS3, and when it ran out, sold it for a massive profit. The moron is the person who paid $2,000 for a game system that is destined to fall in value. The problem is, most people aren't like you. They pay top dollar for clothes, big screen televisions, electronics, and stuff that in 10 years won't be worth anything. The Iphone, a $500 dollar phone today, won't be worth $5 by 2017...and yet people buy it anyway. The smart business man or women spends the bulk of their money in their business, or investing in skills or knowledge that will allow them to multiply their wealth/profit. I have nothing against video games, in fact I enjoy them. The thing is, I won't pay $300+ on an Xbox 360, but I will put that money towards advertising my online business or services. The average man or woman doesn't know where to set their priorities..