Submitted 3 weeks ago by return2ozma@lemmy.world to aboringdystopia@lemmy.world
https://www.thecut.com/article/discretionary-spending-and-debt-costs-of-living-expenses.html
Paywall removed: archive.is/Bpddu
Money’s gonna stop mattering in the states soon, I think. Orangeboi is probably gonna try to replace the USD with NFTs or some crypto scamcoin or something. The rest of the world needs to move away from the USD, and fast.
I wish I was joking.
It’s called deglobalization.
The US dollar became relevant internationally because it allowed goods and services to be exchanged world-wide. Notably, oil is sold and bought in USD, which is super-convenient to the US federal bank because they can control how much oil they can buy by just printing more money and going into more debt.
However, as I and many other people have rightly predicted, going into debt does indeed hurt the federal household. At a certain point, it just becomes unsustainable, tearing not only the federal budget but all of the government and political domain down with it. That formally causes the collapse of the US. I’m not joking. The US will re-build itself eventually but by that time, it will have lost a lot of credibility.
[heavy sigh]
That’s just not true, none of it.
“The US dollar became relevant… because it allowed goods and services to be exchanged globally.”
Wrong. Any currency could enable that (look back at Spanish doubloons) the US dollar filled that niche more recently because coming out of ww2 the us had a relatively untouched territory and a monster of an economy that the rest of the west couldn’t provide otherwise. The US filled an economic vacuum by virtue of good fortune. They then acted over the next century to capitalize on that situation. There’s was nothing special about the dollar that made this a unique achievement.
Oil was sold in OPEC dollars because at the time we made them, not because the dollar was unique or anything compared to all other currencies.
“However as I have predicted debt…”
Again wrong and gonna stop you right there chief. Debt existed well before this issue and other counties will continue to encourage specific levels of debt well after this issue frankly because you again wrong and there’s a much better understanding of economics than what your spouting.
The US isn’t in this position because of the existence of debt they are in this position because of reckless actors (almost always in the GOP) spending a trillion on Iraq, or taking up the mercantilist perspective of a thalidomide baby writ large.
This is the by product of people who don’t understand interwoven economics, don’t add to that ignorance and blame it going in to debt while ignoring that the us debt has existed far longer than any of these issues.
Horribly enough, that is how the USA collapses in the CP2077 timeline:
Oh I know. If the circumstances weren’t so dire, it’d be absolutely hilarious how well the game and its backstory predicted real life.
Yes, the ultimate goal is for working at a job, any job, to become a non-viable way of “making a living.” Interest from investments, or inherited generational wealth, or land-lording will be the only way.
The middle class has outlived its usefulness to the owner class, and all remaining rugs will be pulled out and ladders pulled up in the near future.
This will be great for ““the economy””.
now?
tbh I find these articles unrelatable
I’ve always followed things like
earlyretirementextreme.com mnmlist.com mrmoneymustache.com/…/getting-rich-from-zero-to-h…
my mortgage is 1/6th of my monthly pay my next biggest spend is food because I am special needs XD and it drops off quite quick after that
With an EV with home solar charging, a battery and heat pump, I should pay off my mortgage in the next few years and after that I’ll quickly be getting close to barista fire
So no student debt for you, good on ya.
i only had a few thousands, thankful for tafe here in Australia
This I can’t relate to
Online, “You can see someone on a boat. You can see someone skydiving,” says Kara Perez, the financial educator behind the sustainable spending platform Bravely Go. “That leads to these questions of, ‘What am I doing wrong that I can’t afford that?’ Or, ‘You know what, I deserve that. Let me figure out a way to achieve that’ — which usually means, ‘Let me put that on my credit card.’” If you see that the whole world has flocked to Europe, you may not rush to book a ticket, but you may do something small to give yourself an immediate dopamine hit — DoorDashing yourself an Italian dinner, for example, or buying yourself a swimsuit for future Sicilian sunbathing.
if you’re ordering doordash or uber eats and having trouble with money i don’t know what to say
uber eats is the epitome of a waste of money
The wellbeing of the people depends largely on the political will of the ruling class; so efforting pressure on the ruling class to improve the living conditions of the people makes sense.
doingthestuff@lemy.lol 3 weeks ago
Yes - housing, food and transportation are beyond my means
Sektor@lemmy.world 3 weeks ago
Ride a bike.
roofuskit@lemmy.world 3 weeks ago
That’s not feasible for every person.
doingthestuff@lemy.lol 3 weeks ago
I have lived in Europe and I know that can be a viable option for many people. But there are many places in the US where there are no real alternatives to a car. I have lived in my house for 18 years, bought at the beginning of 2007 before the market bubble popped and haven’t been able to afford to move since then. In 18 years I have seen exactly two people riding a bike near my home and I sometimes wonder if they’re still alive.
bradorsomething@ttrpg.network 3 weeks ago
“Let them ride bike.”
ieatpwns@lemmy.world 3 weeks ago
This is giving “make coffee at home” vibes
letme_meowmeow@sh.itjust.works 3 weeks ago
If you are so rich to be afford to live close to where you work, not 30 minutes by car. If you are so rich to afford to bike for 2 hours, instead of drive for 30 minutes.
Then you can rent a bike instead of buy a car
arrakark@lemmy.ca 3 weeks ago
Ride on the side of a major road and people will honk at you for no reason. You can’t win.