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Suze Orman: ‘The American Dream Is Dead’ - Jenna Goudreau - The Other Half - Forbes
I don't tend to think buying a house you will pay on for the rest of your life is the American dream, however I think for at least the next 10 years the American dream probably is dead, we will have to get away from the service industry and shift into different industries to get back to the prosperity my grandparents enjoyed.
The American dream is only dead for those who are too damn lazy to go grab it.
I tend to agree with that except that, you could be making what was a decent wage 10 years ago, but prices get higher, etc so the fact that I make 40k a year I can live comfortably but I can't live what most define as the "American dream". I don't really care personally I just thought I would point it out. How is it someones fault that they aren't making enough to have the "American dream"?
I probably work harder than you.
What do you define as the American dream?
I cannot wait for your explanation of how...
Suze Orman: ‘The American Dream Is Dead’ - Jenna Goudreau - The Other Half - Forbes
I don't tend to think buying a house you will pay on for the rest of your life is the American dream, however I think for at least the next 10 years the American dream probably is dead, we will have to get away from the service industry and shift into different industries to get back to the prosperity my grandparents enjoyed.
You seem to have plenty of time to hang around here for all the work you say you do.I said probably. I don't know what you do but I would bet good money I do. I typically work 10-12 hour days 7 days a week working with steel and automotive preassembly, come home work on various design projects on the side, study Japanese and design for a degree, and I do tobacco work when in season (right now we are stripping) and when it snows I shovel sidewalks. What do you do?
Also I could honestly give a **** about the pre-defined vision of American dream. The American dream to me is to make money and not have to work your dick in the ground to get to that point. The American dream is to work your dick into the ground until you don't have to work your dick into the ground and make more doing less.
You seem to have plenty of time to hang around here for all the work you say you do.
Suze Orman: ‘The American Dream Is Dead’ - Jenna Goudreau - The Other Half - Forbes
I don't tend to think buying a house you will pay on for the rest of your life is the American dream, however I think for at least the next 10 years the American dream probably is dead, we will have to get away from the service industry and shift into different industries to get back to the prosperity my grandparents enjoyed.
The American dream is dead for the majority of America.” The dream she is referring to is not even a Cinderella story; it’s much more practical. Orman believes the hope of someday owning a home, of working one job for life and retiring at 65 has been crushed by the financial crisis. “The middle class has disappeared,” she continued. “We have a highway to poverty and no roads coming out. I fear for [those] who have been kicked out of their homes, could be living on the streets and don’t know how to get another job. Many of the millions of jobs lost I don’t think are coming back. I am really afraid for the majority of Americans today.”
BUYING a house is overrated anyway. . . especially when you consider that most homes are never paid off. Gee: massive debt! What a dream (more like a nightmare).
I would, right now, prefer I didn't have my own home - an apartment or condo with a reasonable rate would be fabulous. The perks: maintenance isn't up *to you* - if you have a busy life it's perfect.
Insurance is cheaper, if you choose to get it - no property taxes to pay, either.
To me the "American Dream" should never have encompassed money-hungry things like autos and homes - *stuff* you can buy or would have to go into debt for (Typical Americanism: dreaming of owning things). I think the American Dream should have stayed focused on a solid eduction - being able to adequately support yourself without needing Mom and Dad's continuing support - or, in your later years, without having to depend on your children to support you.
Pay your house off.....don't pay your house off....it doesn't matter. Buying a home makes absolute sense.
You can buy a home, pay on it for 20 years while raising your kids, then sell it for twice what you paid for it (as long as Obama leaves the capital gains tax alone under $500,000 for a couple), and pay cash for something smaller when the kids are gone. If you have a 401K and other savings accounts to go with your social security check, you'll be living quite comfortably.
Unfortunately, many Americans don't have the basic discipline to accomplish that. They spend everything they earn with absolutely no plan, jump from job to job, drink/gamble/waste their money away, then cry to the government when they get caught with their pants down in the end.
Suze caters to the lowest common denominator, and with the subprime loan market dried up, her idea of the "American Dream" dried up, too.
I agree, home ownership will make sense to most of us, long term. We have had 5, with maximim of 2 at any one time. IF I was younger, and did not have a house now, I would buy 2 assuming I could afford the payments with no rent coming in for the second house. Home ownership is still an excellent LONG TERM investment. Come retirement time, choose which one you want to live in and sell the other, carry the note for added income. We will sell one of ours eventually, probably the bigger one, in Utah, and live in the older, smaller, AZ home, where it is warmer..Since both are essentially paid for, or will be soon, the lump sum we get can go a long way in helping the grandkids with education funding.
BTW,Give a man a fish, and you've created a liberal. Teach him to fish, and you've created a life-long conservative. That may be true for some, but for many, it creates debt.
For them it goes like this:
Once you teach a redneck to fish, he buys (on credit) an expensive bass boat, a 4x4 truck to pull it, and then he spends too much of his time on the lake "fishing", meaning a lot of beer is involved...:2razz:
a. Your post sounds very much like a conservative.
b. I know of some of the rednecks you speak of. LOL
Fiscally, I am very much a conservative. Socially, I think too many of our conservatives don't care about the TRULY disadvantaged.
There will always be some in need thru no fault of their own, and for some of those it is a permanent condition.
I say truly, because "poverty" in the USA is a joke. Today's poor are too often poor by choice (my siblings included), and expect way too much from the rest of us. Welfare shouldn't be a living wage...it should be just enough to keep from starving, but not so much that there is no motivation to seek employment and/or more education.
Dreams are, by their nature, fantastical, so I find it an apt term.
The dream isn't dead, because it was never alive. It is merely a dream, that is all.
This sounds like one terrific book.
Her upcoming book sounds like a very interesting read. I will put it on my list and hope to learn from it.
I suspect she has hit a nerve in the conservative side of American political thought. She is saying that the America we have today is not the America that used to be and the people paying the highest price for it are the middle class. That message is anathema to the elites who make up the leadership of the Republican party and to libertarian thought molders from places like CATO. If it is true, it means we have been screwing up royally over the last thirty years. And who has gained in both wealth and any other measurement of monetary success during that time when the middle class is losing? Surprise, surprise its the same people who tend to vote Republican and support policies which benefit the upper income class.
This sounds like one terrific book.
LINKCorporate welfare programs provide special government subsidies that benefit certain businesses and corporations. According to the Cato Institute, in fiscal year 2006 the federal government spent $92 billion on corporate welfare programs. Recipients of these special subsidies are often large and profitable corporations. In addition to being wasteful, corporate welfare creates an unhealthy relationship between corporations and their benefactors in Congress that can lead to corruption.
"Terrific book" = "may say things I want to hear." Given the rest of your post, that's quite ironic.
And as always, it flew right over your head.
The American Dream is alive and well.....if you want it.
Not for the lazy, unionized "subprime" folks though. That was a house of cards.
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