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Originally Posted by Herbavorus_Rex
This "richness" isn't translating to the average persons experience. Every year the dollar loses value and more and more people barely earn enough to cover basic necessities.
This is false. People today live longer, healthier lives than they have at any time in history. They have access to a wider range of goods at cheaper prices (smartphones and computers, clothes and appliances, and so on). And while there are still many people who live below the poverty line, most Americans make a middle-class income or above (roughly two-thirds of American households make $35,000+ a year)
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The average American is over 200k in debt, and US deficit is over 18 trillion.
You have no idea what you're talking about. First, the dollar "losing value" doesn't mean people are getting poorer. Second, the U.S.
deficit last year (according to the
Congressional Budget Office) was $483 billion, so you were only off by about $17.5 trillion (in fact, the deficit as a percentage of GDP is now smaller than its average size over the last forty years). Third,
the median American household is $70,000 in debt. However, most of that is secured debt (that is--debt backed by collateral, e.g. a house. This is not a sign of poverty, in fact, the more you owe in secured debt the richer you are likely to be). Unsecured debt (e.g. personal and credit card debt) was at an average of $7,000 per household. So you were only off by about $193,000.
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When the poverty level hits a certain point, it will just be a matter of whether or not those "in power" will have the technology to fend this massive group of hungry people off - the technology for a few to defeat many.
Again, you are demonstrating your ignorance. The poverty level has dropped over the last forty years:
Last edited by Original Position; 01-12-2015 at 07:36 PM.
Reason: added links