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Travis_0004

(5,417 posts)

3. Or even just buying a house

Reply to jwirr (Reply #2)

Tue Oct 20, 2015, 12:57 PM

Oct 2015

If I am young and buy a 250k house, I have that as debt. Lets assume I have 100k in retirement, 20k in savings and a paid off car worth 10k, and make 100k a year.

I would argue I am well off, but I am 120k in debt. Statistically I owe much more than somebody in the third world making 2.00 a day. (Who has no access to debt)

I may be much poorer by one metric, but certainly not worse off.

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Highlight:

"Of the Half-Billion Poorest Adults in the World, One Out of Ten is an American" [View all] Hissyspit Oct 2015 OP

Thanks, Hissyspit. That is stunning. Bernie is about wealth inequality as well as income inequality. merrily Oct 2015 #1

I am assuming that the poll looked at the assets vs debt of jwirr Oct 2015 #2

Or even just buying a house Travis_0004 Oct 2015 #3

Yes, I used my daughter's situation because I am more jwirr Oct 2015 #5

I don't believe the header. Today's world's poorest are dying Hortensis Oct 2015 #4