Crash Course: Chapter 13 - A National Failure to Save (1 of 2) by Chris Martenson

Chapter 13 (A National Failure To Save - Part 1 of 2): "The next twenty years are going to be completely unlike the last twenty years." -- Dr. Martenson. Chapter 13 begins his explanation for this deeply held belief. On every level of our society, there has been a failure to save. Individuals, cities, counties, states, and corporations have all failed to save, but, more importantly, so has our federal government. Our government has pursued a reckless policy of debt accumulation, while neglecting saving and investing, leading to Dr. Martensons claim that the United States is insolvent. Insolvency, which occurs when ones liabilities exceed assets, is first step on the road to bankruptcy.

http://www.chrismartenson.com

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[Meathead36]

I believe the time frame can be shortened to: "The Next 1 year will be dramatically different (uncomfortably) than the previous 20 years".... ie, all in the near future, foreseeable! -GAME OVER

[UnderseaCaveman]

I believe the time frame can be shortened to:

"The Next 10 years will be dramatically different (uncomfortably) than the previous 20 years".... ie, all in the near future, foreseeable!

[TWSceptic]

@stocktradinginvestor You are beyond ignorant, good luck with that.

[christo930]

@stocktradinginvestor Savings are very important on a personal level and at the national level. Money should be a store of value. The importance of savings is important and the American population has abandoned it.

[stocktradinginvestor]

@christo930 I don't believe that money has ever been a storage of value (even when it's gold). It is a medium of exchange. Say you want your haircut and your barber wants carrots in exchange for his service but you only have potatoes. So money (gold backed or not) is invented to take the place so you don't have to trade 100 times to get what you want. Money is not made to be "saved", but allocated towards resources and invested towards production.

[christo930]

@stocktradinginvestor Do you want to work for 1/10th of what you are working for today, because that would be the outcome.

[christo930]

This chapter and the preceding chapter need to be updated. The national debt has gone up substantially and consumer debt is slightly down. This material is now over 4 years out of date and things are generally worse today than 2006-7.

[stocktradinginvestor]

At some point why can't we make new bills where a $1 of the new bill is equal to $100 of the old bill? And the debt is 1/100th the size using the new bill and do that indefinitely.

Also, isn't it "geometric" growth, not exponential? i.e. The debt won't double at an increasing percentage (speed of time and increasing value) like technology has, but an increasing VALUE (or steady percentage rate over a fixed time interval).

[stocktradinginvestor]

@achilles2754 I have to challenge that. Regardless of how many people see all his videos, there's still 24,258 views that made it this far. How many people would have watched this video before the internet? No need to compare it on a relative basis, the fact is technology and people like ChrisMartenson making videos like this are changing things in a big, positive way.

[tedbilmer]

America is going bankrupt. You know why? It has no saving. It creates money out of thin air. Worst still it gives Israel 8.2 millions per day! This money should go to millions of American who are poor, instead.

[Thewizzardof9]

you were right when you said you do not understand it.

[achilles2754]

Shocking how the number of views of the videos decline as we get deeper into more chapters.

It's a hard topic to wrap your mind around but the fact that people just don't give a crap through educational (or lack there of) indoctrination is a key indicator that we are failing as a nations.