The Real Story Behind Downward Class Migration

[krl8814]

You did a good job!! Thanks

[str8razer007]

Love the whiteboard!

[FmrHrntWSO98]

Thanks for another great lesson Jack!

[DesertDood]

Good stuff ... I do hate to nitpic .... but I gotta say .... "Joe the Plumber" I don't think was truly an actual plumber and also he isn't a millionaire.... well he wasn't at the time he asked Obama the question.

Also about wealth redistribution .... that sword has cut both ways .... to the "Romney class" as well as to those less fortunate. Other than that .... right on. Look, I know we just won't agree on a few things, but your main message is right on Jack! Good job!

[ByNatureFarms]

one of my favorite quote from my wife.

"Most people go though life trying to find ways to make more money when they should be trying to find ways to spend less."

[praisegtr]

Solid Jack! Its nice to have visual aids for a change.

[DrunknName]

Good video jack. Im with ya brother! trying to get rid of my familys debt and make things better for us. keep it up man.

[Texasoutback]

I live in central Texas in a town where there are little to no jobs. I own my home out right other than taxes. I am unemployed. My wife works but its not enough. I have child support to pay and cant. Even though I own my home I am considering moving to Ok where I have family and ofcourse looking for work there. I would just like to hear what you would say about my situation.

[GUNRNR7271]

NICE EXPLANATION! Thanks

[chris9b0134]

Jack you rule...First time long time listener here... Awesome you'll be at Liberty Forum; though I don't really plan on going at this point (in CT).

[huntncomfort]

Awsome Explaination Jack!!! Great upload!!!

Bill.

[ericspinball]

liked it, already shared it. good stuff. Yes, live within your means, be smart with your money, stay out of debt as much as possible and you will get through it in good shape.

[humanroach1981]

so basically youre saying that if the cost of living goes up, credit becomes less available and incomes remain the same or less then we will see downward class migration?  why did it take 20 minutes to explain it?

[jjspirko]

@humanroach1981 - Because most people aren't full of themselves and want to know the why and how behind the scenes in addition to the need to refute the "falling from the class" claim by main stream media. Nice handle by the way, "humanroach". Pretty much says it all.

[humanroach1981]

@jjspirko humanroach.....fights like a man survives like a roachs thanks i picked it out

[tacoland2000]

Always known these things intrinsically, but it's great to have them dissected graphically! Thanks for the vid! Rich and poor in America (sans elitism or destitution) are illusions, and numbers are used as false paradigms to keep people from using their money wisely.

[azflying]

Very informative video. Thanks.

[TheEndeavoringFamily]

I found this very intriguing. I really appreciate a good lesson. We've been watching the economy slip and slide all over the place and it makes so much more sense when you see it on a wipe board... maybe it's the homeschooler in me... GREAT video!

[rxw394]

i have been told i was low class for a long time

[mryellow123]

In the process of my opt-out. Wanted to when I was young, dad told me I could do it later and to just play the game. Years later after being everything from poor to top of upper middle. Poor is just better, rich you spend it all on shit and get nothing but more dept.

"quality of life" rather than "purchasing a quality of life in the eyes of others"

You only live once, why spend chasing dollars.

[javabarbarian]

Paying down my debt, can't wait to be free. Have to unload this underwater McMansion somehow too.

[humanroach1981]

Jack we need to give you an intervention! you are using a dryerase board......youre beginning to look like glen beck. if you start crying im coming to your house to save you

[NYGMENfan1]

My dad never goes on vacation.All he does is work.a few years back i gave him 7 thousand dollars to take a break.He took a week off.It made me feel good to do that for him.My grandfather worked on holidays and weekends as a milk pickup for farms and would have to taste every batch of milk the farmer was selling to OK it.

[saucey2427]

Alternative Lifestyle Quotient definers: skills, savings, precious metals, gear, tools, and land yields. Do you want to look rich or live enriched? Great video Jack.

[BonnieBlue2A]

Extremely well done presentation Jack. Thank you. I've passed it forward to those who give me that deer in the headlights look when I try to talk to them about this kind of stuff. They don't want to believe what is really happening.

[pahwraith]

Wouldn't supply and demand cause the price of housing to drop when credit access goes down?

This is the exact inverse of what happened during the bubble, easy credit cause housing prices to go up.

I do agree with the general thesis. Anyway, I hope to join you in opting out of the system pretty soon, I while fiddle while Rome burns.

[survivalpodcasting]

@pahwraith - It may very well have IF the government didn't bail out the banks to the point where they could afford to SIT on the foreclosures and turn down very reasonable short sale offers etc.

The reality is it hasn't mattered because even where there are deals to be had many of the neighborhoods have been drug down with the price drop due to so many of the homeowners going under at the same time.

[whiskerchild]

Great vid.

[vention4wh]

I'm upper middle class? Cool.

Like you though, I've opted out of the system, got totally debt free, but my home is only a condo (for now). I'm saving for a house and a couple acres though.

You hit a home run with this video Jack. You're giving good value for my MSB dollars.

[UltimateBargains]

Getting out of bad debt is very very important. See my UltimateBargains channel for free videos on eliminating your bad debt and avoiding the scammers.

[Garrisonpea]

OMG you are so right. My husband and I make about $53k (gross) we are out of debt (except our morgage) and we have a pretty nice lifestyle. We live frugally by choice.

[UltimateBargains]

Deciding *whether* to go on vacation compared to deciding *where* to go on vacation is a great analogy to describe the difference between non-wealthy and wealthy.

[IndependentJo]

Great video Mr. Spirko!

[UltimateBargains]

Currency is loaned into existence by the Federal Reserve Bank (it's not Federal, it's not a bank, and it has no reserves). Debased Bernanke Bucks are created digitally in the computer cloud. Then the FED orders the U.S. Mint to print (some of) the currency, which then is loaded into armored trucks and delivered to the various FED branches for later redistribution to other banks. The FED is owned and controlled by the world's wealthiest families and corporations.

[survivalpodcasting]

@UltimateBargains - And this is what I mean when I said the currency is "sold" to the lower levels. When it is created some of it is kept, all new money sucks value from existing money in this system. Those with access to a "printing press" steal value from the money in your pocket when they create more. Its what Ron Paul calls the hidden tax. Check out TRTAM (dot) com and read my free book about money creation.

[bigdogfart]

Well done sir, well done indeed. I shared it on facebook to try to spread the word.

[mudtoa]

Nice vid, I am adding LQ to my vocabulary

[DAHC78]

Great work Jack. Your a modern day profit. I'm sending this video to all my friends and family. Please keep up the good work on the podcast.

[Sn00kyCr00ksWorld]

Not able to have a harden or anything i dont own my home I rent. And its a tiny overpriced POS. Im just in one fucked up situation.

[Sn00kyCr00ksWorld]

My credit score is like 400something and Im 24. Im screwed for life. Took my first credit card when I was homeless @18yrs old,blew it on a hotel..couldnt find a job and now Im just screwed. I think like you tho. I dont know how to even get rid of all the debt im in I owe utility companies,one credit card,few other things prolly totaling 6k maybe a bit more. And they want it ALL. I only make 9.50/hr. I spent $100 on healthy veggies n crap and people wonder why junkfood stretches more. I am not

[isabstmr]

Very good presentation.. It's like a slow sinking cruise ship.

[GunslingerDragon]

Nicely stated. With this sort of thing though, it's a good idea to list a few sources somewhere, just to add further credibility.

[survivalpodcasting]

@GunslingerDragon Really? Credibility? Jesus dude I don't need some other source to give me creditability. In fact I did this video because EVERYONE is talking about this now even though I have been talking about it for two years and everyone else is still getting it wrong. The "sources" are all fixated on people falling from one class to another, the bigger problem is the classes them selves are falling in meaning, there is no source for that right now other than me.

[GunslingerDragon]

@survivalpodcasting note the words "FURTHER credibility". The way I learned is that if you cite numbers, you should give sources of some kind, and there are charts that pretty much say prices are going up faster than wages. Citing sources isn't too necessary if you're talking to people who already likely agree with you and just explaining a concept, but can be a major boon for when those people show that same video to others who may be skeptical for whatever reason.

[str8razer007]

@survivalpodcasting Pretty cocky answer! lol

It is good to have additional sourcing, but since you're the first I guess the others will have to use YOU as a source!

[tacoland2000]

@GunslingerDragon My friend, if you cannot evaluate another's empirical analysis of the world in which you live based on your own experience and observation, and feel confident in your conclusions, you either need more experience in that world, or you need to observe more closely what you've experienced. Ask yourself what your very own sources tell you about this. At the least, are you a good judge of character? A node in a collective asks for permission to speak and permission to judge.

[GunslingerDragon]

@tacoland2000 Actually, it's just that I've taken debate courses and automatically track flaws or places where support is needed in people's arguments. When numbers are cited, unless sources are cited it can be claimed that the speaker just made them up to support their side. Yes, to people who might not want to hear or believe this sort of thing, this video would likely be classified as an argument. Given that I agree and support the message of the video, I want its argument to be rock solid.

[humanroach1981]

@GunslingerDragon its a pretty simple concept, not much reason source that. it like saying, "if things get more expensive, you gotta spend more money" who are you going to quote on that?

[michaelrjohnson11]

Good explanation, helps to put things in perspective. Will use this to help explain my goals for life.

[MelodeeRose]

Excellent visual Jack. That really helps to solidify what you've been talking about. Thank you.

[inthego]

Tell it Jack! God I hope people here you...

[Sn00kyCr00ksWorld]

Truth brotha!