Quote Originally Posted by Buckrub View Post
Life's gotten better for everyone I know in last 40 years. Even the poorest have cell phones, cars, satellite tv, food.

I just don't see or buy much of your position.
Household formation at an all time low. Labor force participation rates not seen since the early 80s. Population and fertility rates that would be shrinking in the absence of immigration. Per capita public sector debt that is approaching average medium income. Household debt at unimaginable heights 5 years after the housing bubble burst highs. Unprecedented numbers of those under 30 living at home. Education debt levels at astronomic highs and no sign of even leveling off any time soon.

This aren't the credentials of a prospering nation. These are 3rd world numbers. Strip away the demand that has been brought forward by various types of debt and you have a depression.

A poor nation with fancy toys.

Will