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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: GraceZ who wrote (65369)	7/6/2006 12:10:18 PM
From: John Vosilla	Respond to of 110194

'Globalization is one of the prime reasons that individuals with very low incomes on the US scale have such a high standard of living on a global scale.' I think easy access to credit and ease of making a transaction in this day and age has a lot to do with it. Buy your dream home, new car or fly cross country with such ease unthinkable a generation ago for many.. 'Asset prices don't generate wealth.' I disagree in part though no doubt longer term you do need substance behind it. Increased cash flow due to the productivity of business and its' workers growing at a faster pace than inflation. If it is a phoney financially engineered bubble then most fall flat on their face. How does this housing boom stack up? More real or more phoney? How about the perception of so many today that RE was their ticket to wealth? Many win and many lose trying to play that game..

To: GraceZ who wrote (65369)	7/6/2006 12:25:12 PM
From: Wyätt Gwyön	Read Replies (2) \| Respond to of 110194

It took about 15 years of working as a doctor for my husband's best friend to catch up to him (in accumulated earnings) after medical school yes, and longer still to catch up in net worth if the blue collar worker saves and invests wisely. many doctors seem to be deluded about their "wealth", mistaking a high income and low net worth at age 40 or 50 for being "rich". of course this is exacerbated when they spend their money accumulating all the accoutrements of the wealthy.