Irony Alert: Is The American Dream Only Affordable Overseas?
Posted by freedomforall 4 months, 3 weeks ago to Economics
Excerpt:
"Put another way: if The American Dream is only affordable to those earning $250,000 a year and up or those who inherit family wealth, it isn't The American Dream. The American Dream is defined as starting with nothing but ambition and a willingness to work hard and save money and acquire all of the good things listed above without borrowing a small fortune for each one.
It seems taboo to say this, but The American Dream implicitly includes a goal of no debt: no student loan debt, no home mortgage, no medical debt, no debt at all: assets are owned free and clear, and college is paid out of earnings or student loans are paid off in the first few years of full-time work.
Anything less isn't The American Dream, it's a debt-dependent facsimile, a travesty of a mockery of a sham of The American Dream.
The other irony is The American Dream is still affordable overseas in what is generally referred to as developing economies or the Global South, where as a general rule, dollars go a lot farther than they do in the U.S."
"Put another way: if The American Dream is only affordable to those earning $250,000 a year and up or those who inherit family wealth, it isn't The American Dream. The American Dream is defined as starting with nothing but ambition and a willingness to work hard and save money and acquire all of the good things listed above without borrowing a small fortune for each one.
It seems taboo to say this, but The American Dream implicitly includes a goal of no debt: no student loan debt, no home mortgage, no medical debt, no debt at all: assets are owned free and clear, and college is paid out of earnings or student loans are paid off in the first few years of full-time work.
Anything less isn't The American Dream, it's a debt-dependent facsimile, a travesty of a mockery of a sham of The American Dream.
The other irony is The American Dream is still affordable overseas in what is generally referred to as developing economies or the Global South, where as a general rule, dollars go a lot farther than they do in the U.S."
Property prices in some pleasant locations in SouthAm and CentralAm are much more reasonable.