Quote from: Kakmakr on November 21, 2017, 06:09:14 AM

Quote from: BitcoinBarrel on August 15, 2017, 04:09:52 AM

Quote from: skyline247 on August 15, 2017, 04:03:00 AM

Quote from: alexius89-2 on August 15, 2017, 03:40:02 AM

Reminds me of the site that ranks your global wealth based on assets, income, etc. Most people in the 'lower class' division of America are still in the top 10% or something globally. Staggering!

Indeed, literally all Americans except the homeless are considered as rich by global standards. Even richer or wealthier individuals living in poorer countries could be considered less wealthy due to the low level of public infrastructure.

Most people living on modern societies are in debt, so they are poorer than a homeless man with $2 in change in his pocket.

You could not have said it any better. Grin

In my family and extended family some people think they are rich when they drive fancy new cars and live in big houses. ^grrrrrrr^

Last Xmas I spoiled their party and I told them to compare their Net value to that of a homeless man with $10 in their pocket and the reality hit them very hard. ^smile^

Debt works okay if the assets you acquire with that debt exceeds the value of the debt and you have all funds to make payments required. But what happens if the asset you purchased with debt goes down in value instead??