4 ms·

That is completely besides the point to how much you (over)spend on your children's university education. For all we know khan academy will overtake everyone o

by mahyarm 14y ago

That is completely besides the point to how much you (over)spend on your children's university education. For all we know khan academy will overtake everyone once some news article starts the snowball and people just live at mom & dads house and spend the equivalent of living expenses. The principles espoused on MMM applies everywhere in the world, you should really read into the math and the technique. Sovereign debt is not normal debt, you can't look at it in such personal terms. Normal people can't just print money just to start.

001sky 14y ago
I'm not arguing with you in a dis-agreement sense. Actually, I am big fan of minimal stuff. In essence we also agree that these numbers are perhaps just not feasible, so things will change. For example, even under the example you've provided (about 1/2 of the SF numbers), the large portion of university education is 1/3 of the total and 2.5x the house cost. That seems pretty un-realistic. So, i agree with you. But, the data show just historically, that even the cost to support the student in a university town, is also skyrocketing. 30k per kid x 4 is 120k just for living expenses, not tuition. So that is 240k for 2 kids and that is 2.2x your house cost. Similalry, I understand economics. But with $20T outstanding, printing money things will happen. If interest rates double (and they are 1/2 of normal now), then that Interest amount is 1.6x the defense budget. To think about that for a minute: The Banks, if they were acting as a group, could take 1/2 the debt service and finance an Army on the Scale of The USA (by far the largest on the planet). We would basically be renting the country from the banks at 2x what we pay to keep people from "stealing" if you will the country by force of violence. These are some interesting juxtapositions. Also, I'm not debating your $500k number at all. I'm just pointint out that for most people the goal is somewhere as per ChuckMc post. But the meath suggests things either are already more complicated that we think, or are going to get so at some stage. Lastly - on the disruption of education. I think between the two of ur posts we are making the case why this may be heading in the direction you are proposing.
001sky 14y ago
I'm not arguing with you in a dis-agreement sense. Actually, I am big fan of minimal stuff. In essence we also agree that these numbers are perhaps just not feasible, so things will change. For example, even under the example you've provided (about 1/2 of the SF numbers), the large portion of university education is 1/3 of the total and 2.5x the house cost. That seems pretty un-realistic. But its the math. Historically, data show even the cost to support the student in a university town, is also skyrocketing. ->30k per kid x 4 is 120k just for living expenses, not tuition. So that is 240k for 2 kids and that is 2.2x your house cost, if in any urban/metro etc. Even at state school like UC etc. Similalry, I understand economics. But with $20T debt outstanding in 2020, even printing money things will happen. If interest rates double (and they are 1/2 of normal now), then that Interest debt service is 1.6x the defense budget. To think about that for a minute: The Banks, if they were acting as a group, could take 1/2 the US debt service and finance an Army on the Scale of The US itself. We would basically be renting the country from the banks at 2x what we pay to keep people from "taking" the country by force of violence. These are some interesting juxtapositions.
001sky 14y ago
I'm not arguing with you in a dis-agreement sense. Actually, I am big fan of minimal stuff. In essence we also agree that these numbers are perhaps just not feasible, so things will change. For example, even under the example you've provided (about 1/2 of the SF numbers), the large portion of university education is 1/3 of the total and 2.5x the house cost. That seems pretty un-realistic. But its the math. Historically, data show even the cost to support the student in a university town, is also skyrocketing. ->30k per kid x 4 is 120k just for living expenses, not tuition. So that is 240k for 2 kids and that is 2.2x your house cost, if in any urban/metro etc. Even at state school like UC etc. Similalry, I understand economics. But with $20T debt outstanding in 2020, even printing money things will happen. If interest rates double (and they are 1/2 of normal now), then that Interest debt service is 1.6x the defense budget. To think about that for a minute: The Banks, if they were acting as a group, could take 1/2 the US debt service and finance an Army on the Scale of The US itself. We would basically be renting the country from the banks at 2x what we pay to keep people from "taking" the country by force of violence. These are some interesting juxtapositions.
001sky 14y ago
I'm not arguing with you in a dis-agreement sense. Actually, I am big fan of minimal stuff. In essence we also agree that these numbers are perhaps just not feasible, so things will change. For example, even under the example you've provided (about 1/2 of the SF numbers), the large portion of university education is 1/3 of the total and 2.5x the house cost. That seems pretty un-realistic. But its the math. Historically, data show even the cost to support the student in a university town, is also skyrocketing. ->30k per kid x 4 is 120k just for living expenses, not tuition. So that is 240k for 2 kids and that is 2.2x your house cost, if in any urban/metro etc. Even at state school like UC etc. Similalry, I understand economics. But with $20T debt outstanding in 2020, even printing money things will happen. If interest rates double (and they are 1/2 of normal now), then that Interest debt service is 1.6x the defense budget. To think about that for a minute: The Banks, if they were acting as a group, could take 1/2 the US debt service and finance an Army on the Scale of The US itself. We would basically be renting the country from the banks at 2x what we pay to keep people from "taking" the country by force of violence. These are some interesting juxtapositions.

by mahyarm 14y ago

001sky 14y ago

I'm not arguing with you in a dis-agreement sense. Actually, I am big fan of minimal stuff. In essence we also agree that these numbers are perhaps just not feasible, so things will change. For example, even under the example you've provided (about 1/2 of the SF numbers), the large portion of university education is 1/3 of the total and 2.5x the house cost. That seems pretty un-realistic. So, i agree with you. But, the data show just historically, that even the cost to support the student in a university town, is also skyrocketing. 30k per kid x 4 is 120k just for living expenses, not tuition. So that is 240k for 2 kids and that is 2.2x your house cost. Similalry, I understand economics. But with $20T outstanding, printing money things will happen. If interest rates double (and they are 1/2 of normal now), then that Interest amount is 1.6x the defense budget. To think about that for a minute: The Banks, if they were acting as a group, could take 1/2 the debt service and finance an Army on the Scale of The USA (by far the largest on the planet). We would basically be renting the country from the banks at 2x what we pay to keep people from "stealing" if you will the country by force of violence. These are some interesting juxtapositions. Also, I'm not debating your $500k number at all. I'm just pointint out that for most people the goal is somewhere as per ChuckMc post. But the meath suggests things either are already more complicated that we think, or are going to get so at some stage. Lastly - on the disruption of education. I think between the two of ur posts we are making the case why this may be heading in the direction you are proposing.

001sky 14y ago

I'm not arguing with you in a dis-agreement sense. Actually, I am big fan of minimal stuff. In essence we also agree that these numbers are perhaps just not feasible, so things will change. For example, even under the example you've provided (about 1/2 of the SF numbers), the large portion of university education is 1/3 of the total and 2.5x the house cost. That seems pretty un-realistic. But its the math. Historically, data show even the cost to support the student in a university town, is also skyrocketing. ->30k per kid x 4 is 120k just for living expenses, not tuition. So that is 240k for 2 kids and that is 2.2x your house cost, if in any urban/metro etc. Even at state school like UC etc. Similalry, I understand economics. But with $20T debt outstanding in 2020, even printing money things will happen. If interest rates double (and they are 1/2 of normal now), then that Interest debt service is 1.6x the defense budget. To think about that for a minute: The Banks, if they were acting as a group, could take 1/2 the US debt service and finance an Army on the Scale of The US itself. We would basically be renting the country from the banks at 2x what we pay to keep people from "taking" the country by force of violence. These are some interesting juxtapositions.

001sky 14y ago

I'm not arguing with you in a dis-agreement sense. Actually, I am big fan of minimal stuff. In essence we also agree that these numbers are perhaps just not feasible, so things will change. For example, even under the example you've provided (about 1/2 of the SF numbers), the large portion of university education is 1/3 of the total and 2.5x the house cost. That seems pretty un-realistic. But its the math. Historically, data show even the cost to support the student in a university town, is also skyrocketing. ->30k per kid x 4 is 120k just for living expenses, not tuition. So that is 240k for 2 kids and that is 2.2x your house cost, if in any urban/metro etc. Even at state school like UC etc. Similalry, I understand economics. But with $20T debt outstanding in 2020, even printing money things will happen. If interest rates double (and they are 1/2 of normal now), then that Interest debt service is 1.6x the defense budget. To think about that for a minute: The Banks, if they were acting as a group, could take 1/2 the US debt service and finance an Army on the Scale of The US itself. We would basically be renting the country from the banks at 2x what we pay to keep people from "taking" the country by force of violence. These are some interesting juxtapositions.

001sky 14y ago

I'm not arguing with you in a dis-agreement sense. Actually, I am big fan of minimal stuff. In essence we also agree that these numbers are perhaps just not feasible, so things will change. For example, even under the example you've provided (about 1/2 of the SF numbers), the large portion of university education is 1/3 of the total and 2.5x the house cost. That seems pretty un-realistic. But its the math. Historically, data show even the cost to support the student in a university town, is also skyrocketing. ->30k per kid x 4 is 120k just for living expenses, not tuition. So that is 240k for 2 kids and that is 2.2x your house cost, if in any urban/metro etc. Even at state school like UC etc. Similalry, I understand economics. But with $20T debt outstanding in 2020, even printing money things will happen. If interest rates double (and they are 1/2 of normal now), then that Interest debt service is 1.6x the defense budget. To think about that for a minute: The Banks, if they were acting as a group, could take 1/2 the US debt service and finance an Army on the Scale of The US itself. We would basically be renting the country from the banks at 2x what we pay to keep people from "taking" the country by force of violence. These are some interesting juxtapositions.