patrick.net

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This author wrote in 2013 about debt : https://www.oftwominds.com/blogmay13/genX5-13.html

He just wrote this insightful article which validates his 2013 article, and he's say there needs to be a means test for social security among other spending reforms:

https://www.zerohedge.com/personal-finance/boomers-lets-face-it-math-doesnt-work

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AD says

"there needs to be a means test for social security among other spending reforms:
https://www.zerohedge.com/personal-finance/boomers-lets-face-it-math-doesnt-work "

No because Social Security has been running a surplus for years! Years!
Social Security is our hard earned money for retirement - every single penny!
And if we remove the fraud from Social Security then that will make Social
Security more secure.
Social Security is rock solid.

The government has a lot of debt but it has a lot of assets too:

•640 million acres of land (28% of America)
•$500B in gold reserves
•$1.8T in military equipment and bases
•300,000+ federal buildings (including national labs, NASA facilities, post offices)
•48,000 miles of interstate highways
•Massive mineral and energy resources (oil, gas, minerals, water rights)
•650M barrels in the Strategic Petroleum Reserve
•$1.6T in student loan debt owed to the government
•Air rights and wireless spectrum licenses
•Fannie Mae and Freddie Mac stakes (~$150B net worth combined)
•Power generation assets like the Tennessee Valley Authority (TVA)
•Ports, waterway infrastructure, and major federal transportation assets
•National parks and forests (economic and environmental value)

They would be hard to sell and liquidate, but they could definitely be leased, monetized, or privatized in part. Total estimated value: $25–50+ trillion.

https://x.com/HayekAndKeynes/status/1926451705845055530

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https://dailyhodl.com/2025/05/24/fed-quietly-buys-43600000000-in-us-treasuries-in-alleged-stealth-qe-operation-after-china-abruptly-dumps-billions-in-bonds/

China now holds $765.4 billion in US Treasuries and is in third place behind the UK and Japan, which hold $779 billion and $1.13 trillion, respectively.

Interesting that the Chicoms maximum holdings was around $1.3 trillion around 2014.

I look forward to the Wolfman at Wolf Street website to give an update on the Federal Reserve's balance sheet.

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AD says

Interesting that the Chicoms maximum holdings was around $1.3 trillion around 2014

The Chinese hold some additional hundreds of Billions through their SOEs. They try to keep their total holdings quiet, but yep in the UK and Carribean Islands as well as HK.

Misc says

AD says

Interesting that the Chicoms maximum holdings was around $1.3 trillion around 2014

The Chinese hold some additional hundreds of Billions through their SOEs. They try to keep their total holdings quiet, but yep in the UK and Carribean Islands as well as HK.

Who knows as far as Chicom State Owned Industries (SOEs) other than the Chicoms themselves, but the amount of US Treasuries held by China has steadily decreased since 2014.

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America runs on fraud.

The_Deplorable says

America runs on fraud.

Running up debts is a choice. If you are just starting out, get a cheap used car and a roommate. Nobody needs a $30,000 wedding. If you do go to college, try CC for the first two years and transfer. If you do the 4-year college route with a loan, major in something that allows you to pay back the debt.

HeadSet says

"Running up debts is a choice."

No it is not!
This is a fraud imposed by the deep state on the American People. Having to pay
$100,000 a year to attend college is not a choice!

The_Deplorable says

HeadSet says
"Running up debts is a choice."

No it is not!
This is a fraud imposed by the deep state on the American People. Having to pay
$100,000 a year to attend college is not a choice!

It is a choice. Headset is right. CC for 2 years and see if you pass your courses that are the basic requirements you're forced to do anyway. Still costs, but it's substantially less for professors/teachers that are just as competent as 4 year university professors that likely only have the job because they graduated from there.

Females should go in for nursing if they're 17-18 in 2025. Males should do business and/or other STEM courses. Don't take English or any of that other bull shit. You speak English and if you graduated high school you should have an above average grasp of it.

At the end of the day it's ultimately networking. Who you know. Sure there are skilled trades and professions, but if you know the right person they'll train you. I think that's a problem with a lot of STEM guys specifically. They're socially awkward and don't meet decision makers. So they get stuck in a shitty career.

The_Deplorable says

America runs on fraud.

300k home? Any neighborhood not overran by diversity rape gangs is at least 600k in any city.

This is a fraud imposed by the deep state on the American People. Having to pay
$100,000 a year to attend college is not a choice!

WookieMan says

"It is a choice..."

College at $100,000 a year is not a choice. It is a fraud imposed on the American people
by the Globalist Nazis. These losers need to get lost and move to Somalia where they
belong.

The_Deplorable says

This is a fraud imposed by the deep state on the American People. Having to pay
$100,000 a year to attend college is not a choice!

WookieMan says

"It is a choice..."

College at $100,000 a year is not a choice. It is a fraud imposed on the American people
by the Globalist Nazis. These losers need to get lost and move to Somalia where they
belong.

Colleges are rarely $100K. Going to a $100K per year college IS a choice.

RWSGFY says

"Colleges are rarely $100K. Going to a $100K per year college IS a choice."

You haven't checked tuition and fees lately, have you?

The_Deplorable says

America runs on fraud.

I agree that some of this cost is "optional".

But most girls have dreamt of their weeding day since their Disney Princess days when there were five.

I don't mind driving an old car, so long as its reliable.

House prices are 2x or more along the coast relative to just a decade ago.

And as for college, CC is an affordable alternative now days. That's one thing Obama got right. Back when I was graduating HS, I had taken most of the courses that the local CC offered at my local HS, and they certainly did not have an engineering program back then. STEM was just coming into vouge.

But today? It's a reasonable pathway to a four year degree without breaking the bank.

The_Deplorable says

This is a fraud imposed by the deep state on the American People. Having to pay
$100,000 a year to attend college is not a choice!

WookieMan says

"It is a choice..."

College at $100,000 a year is not a choice. It is a fraud imposed on the American people
by the Globalist Nazis. These losers need to get lost and move to Somalia where they
belong.

If anyone looking at the details, in either public or private, there are kind of two income thresholds. Pay zero under full ride who qualify for below first threshold.
Pay full sticker price who are above the second, partial pay in between.
Because of the subsidy to the first 2 categories, the third category price goes much higher.
We all hear stories about the first two categories who cheat the system!
In my small world observations, the tuition fees didn’t go much over the years compared to everything else like dorms, books, food, medical, transportation etc.
Not sure about other states, in CA, all illegals have lots of programs under various names get paid not by them and adding it to the third category.

The_Deplorable says

College at $100,000 a year is not a choice. It is a fraud imposed on the American people
by the Globalist Nazis. These losers need to get lost and move to Somalia where they
belong.

Then don't go. Supply and demand. Prices will drop. I'm not pushing college on my boys. Start a business. Plumbing, HVAC, electric, etc. Do the physical work when you're young and then sit behind the desk and hire a good manager. Buy out competitors that don't have what it takes. You can be making $300k+ 4-5 years out of high school with no debt.

I can teach the tax end. Wife can teach sales and marketing. They really wouldn't even need to go to college. We've actually done what we'd be teaching, not like most university or CC professors where they just go to school to teach in something they haven't experienced. As a parent it 100% is a choice. If they show the work ethic I have no issue with them living at the home until they get employment/income. 4 Years max.

GreaterNYCDude says

But most girls have dreamt of their weeding day since their Disney Princess days when there were five.

I don't mind driving an old car, so long as its reliable.

The wedding thing only should apply to women and their family. Doesn't much matter as I forget which thread only 12% are getting married anyway. Ways to make a wedding cheap as well. Destination is the easiest. Food and drinks included at an A/I and the guest pay their way. Likely have mom or dad pay for your room as a gift or whatever. So essentially free. Don't need to go to some dumb ass banquet hall in the burbs or city for a shitty wedding. We have nothing to do with them, but we did ours in a Knights of Columbus school for a $500 fee. Brought kegs and returnable hard booze. Catered food. It was cheap for 200+.

Cars are the dumbest cost. Again, a choice. Have a buddy putting in I think $20k into a 1980's truck. Nothing special. He's doing it so his son can get girls. I've told him, dude those days are done. He's 48 and kind of stupid, but fun to hang with.

Reality is you take out the college, wedding and get a shitty car, a $300k home or higher is not a big deal. Again, these are choices. Your biggest choice is if you want to start a family. Everything else will fall in line after that. I made that choice Freshman year in college. Best choice to have a partner in this game called life. I don't blame others for my faults or things we've done wrong. I'm getting sick of that shit.

The_Deplorable says

RWSGFY says

"Colleges are rarely $100K. Going to a $100K per year college IS a choice."

You haven't checked tuition and fees lately, have you?

I did. Have one kid in college RN and other two soon to follow.

In a right state you can go to a great public school for roughly $10-20K per year and this is with zero scolarships, assistance and such.

I'm surprised you don't know that, supposedly living in the US and all ....

RWSGFY says

In a right state you can go to a great public school for roughly $10-20K per year and this is with zero scolarships, assistance and such.

I'm surprised you don't know that, supposedly living in the US and all ....

Yup. Options out the butt that are still somewhat expensive but don't bleed you dry. You don't need an Ivy league degree. Wife does just fine from a University of Illinois arm or whatever. Probably makes double most Champaign grads make in a year. Half the cost in state at UIC.

You haven't checked tuition and fees lately, have you?

RWSGFY says

"In a right state you can go to a great public school..."

You need to find the right state for lower tuition and fees? In the 60s and 70s people
used to get a university education with a part-time job. What happened?

Globohomo is trying to do to the US what it did to Mexico beginning in the late 1960's. Mexico was flush with gold and oil, and was encouraged to take out USD denominated loans. Then in the 1970's, when US interest rates went through the roof, Mexico couldn't repay their USD debts, so the raping began. Mexicans began to flood the US border in the 1980's as their country fell apart.

Now, 50 years later, Mexico is a failed narco state. Unless MAGA succeeds, that is the fate of this country.

The_Deplorable says

You haven't checked tuition and fees lately, have you?

RWSGFY says
"In a right state you can go to a great public school..."

You need to find the right state for lower tuition and fees? In the 60s and 70s people
used to get a university education with a part-time job. What happened?

What he stated isn't wrong. You might have to move and create a primary residency in a different state. There are cheap colleges everywhere. Fact is getting into a "good" college has always been overhyped. There are better professors at some random state D-3 colleges that are better at their job.

Go on Youtube. Buy a camper or van. Use the schools gym for showers and bathroom. Everything is keycard now and 24/7. If you were were crafty you could do a 4 year school for $5-8k/yr. A part time server could make that in 3 months. Bartender more.

My oldest will be able to get accepted at ANY major college in the country regardless of grades. Yes it's about the money, but there are alternatives out there is the point that are way cheaper. Might have to alter lifestyle for a few years. I personally feel like on the job training is more valuable than college anyway so tuition doesn't much matter to me as a parent.

The_Deplorable says

You haven't checked tuition and fees lately, have you?

RWSGFY says

"In a right state you can go to a great public school..."

You need to find the right state for lower tuition and fees? In the 60s and 70s people
used to get a university education with a part-time job. What happened?

What part of "I'm doing it right now while you're bloviating about it theoretically" didn't you get?

I'm starting to suspect you are one of these Indian engagement bots who have no fucking idea how the US works and whose task is doom-peddling.

But I'll give you another chance.
Tell me, what do you mean when you say "70s part-time job" (make it verifiable - I was a child in the 70s and can't verify from experience) and how much do you think a similar part-time job yields now and what location you mean and why going away from home for college is so horrifying to you (while most Americans think it's normal and even desired). And we go from there.

PS. And have no illusion: I did notice the goalposts moved from "100K per year minimum" to "doable with income from a part-time job".

stereotomy says

Globohomo is trying to do to the US what it did to Mexico beginning in the late 1960's. Mexico was flush with gold and oil, and was encouraged to take out USD denominated loans. Then in the 1970's, when US interest rates went through the roof, Mexico couldn't repay their USD debts, so the raping began.

In what currency does the US borrow now?

The_Deplorable says

In the 60s and 70s people
used to get a university education with a part-time job. What happened?

College loans. Easy money always runs up costs.

RWSGFY says

I did. Have one kid in college RN and other two soon to follow.

In a right state you can go to a great public school for roughly $10-20K per year and this is with zero scolarships, assistance and such.

I tip my hat to you. I sent my kid to college in 2018. I set aside $80k to pay for it when she started high school. Unfortunately, by the time she graduated high school, plus during the 4 years of college, the college costs shot up and I ended up paying $120k. So good on your part that you are currently able to get a kid through an RN program for that $10-20K per year.

HeadSet says

The_Deplorable says

In the 60s and 70s people
used to get a university education with a part-time job. What happened?

College loans. Easy money always runs up costs.

It's no longer education. It's business at this point unfortunately. My neighbors are CC professors and pay is public record. They're 52 getting paid $98k/yr for teaching English. A 52 year old professor at Harvard is probably getting $180-220k. Now throw in administrators (eye roll) and extravagant buildings to learn in....

I write and read more than any English professor. I have numerous typos, but that's for speed to read and write more. The subject makes sense in high school, but it's completely useless in college. The people that want to write are going to write. If you graduated high school you can speak and write it. Not sure why it's a required course in college.

There are numerous other subjects that are forced and a complete waste of time. STEM I get. Medical I get. Spanish for now I get. Chem I get. Otherwise most everything else is useless. Call me out if there's another subject. I guess finance and some business courses, but those you look stupid for wasting the money to get them for the field it is. Spent all this money to get a piece of paper and now I'm going to tell you how to spend/save your money? Makes no sense.

If the Supreme Court strikes down Trump’s tariffs, the 2025 federal deficit could increase by approximately $195 billion, raising the total deficit from about $1.8 trillion to nearly $2 trillion.

The 2024 deficit was $1.833 trillion.

Federal government expenditures in fiscal year 2025 are projected to reach approximately $7.01 trillion, up from $6.73 trillion in 2024—an increase of about $275 billion or 4%.

Key Drivers of 2025 Spending Growth
• Interest on the debt: Surging past $1.1 trillion due to higher rates and rollover of maturing debt.
• Social Security and Medicare: Automatic growth continues, driven by aging demographics and healthcare inflation.
• Defense and veterans programs: Increased outlays for modernization and support services.
• Student loan accounting changes: One-time adjustments in 2024 reduced apparent spending, making 2025 look higher by comparison.

AD says...



But is this debt real? Every time the Federal Reserve prints a dollar We The People
are in debt. And this frankly is a fraud. How about prosecuting the frauds and
canceling the debt?

https://www.advisorperspectives.com/dshort/updates/2025/11/06/household-debt-rises-to-18-59-trillion-in-q3-2025

Patrick says

https://www.advisorperspectives.com/dshort/updates/2025/11/06/household-debt-rises-to-18-59-trillion-in-q3-2025

We must be abnormal. I'm happy to report our household debt is less than$100k. Took 25 years but we're on pace to be debt free before we retire.

Where's the graph that shows, average investments, 401K and other holdings?
It should be as easy as going to the bank and withdrawing money from your bank account.
As it should be using your tax free retirement funds to purchase or partially fund your first time home.
I'm always shocked to hear people say they took a loan from money that's already theirs. That gets taxed and incurs interest.

Many homes have their money locked up in government controlled retirement accounts. Instead of just letting people save and invest, and make banks pay the savers. All for a dog and pony show to play hide the weenie, for the illusion they aren't paying taxes on the money and their company gave matched contributions. Every ten to fifteen years, a major market upsets wipes out the previous decade record returns, and they keep starting back where they started. Makes no damn sense at all.
Your 401K payments when you retire, will be taxed, more than it would have been taxed in your weekly paycheck.
Not only that, you'll then have to use that money to pay your mortgage, that should have been paid off before you retired.

Not having household debt should be your biggest goal for retirement. So you don't have to sell your whole life and downsize and have to move to a downsized community and live alongside a bunch of other bitter assholes, that are angry that there retirement plan didn't include paying for their previous creature comforts.