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Americans Are Dying With an Average of $62K in Debt

Discuss news and current events around the world.

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pete98146
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Re: Americans Are Dying With an Average of $62K in Debt

Post by pete98146 » March 24th, 2017, 5:55 pm

Moretorque wrote:Watch the first 15 minutes of the documentary " Renaissance 2.0 " and research a Mathematically Perfected Economy. They get away with this because people are stupid, more than likely the reset will kill a good portion of Americans because we are on ground 0 in this unsustainable house of cards.
Ah Renaissance 2.0! Definitely in the Top 5 of best vids ever. Highly recommended!




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Moretorque
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Re: Americans Are Dying With an Average of $62K in Debt

Post by Moretorque » March 24th, 2017, 8:31 pm

pete98146 wrote:
Moretorque wrote:Watch the first 15 minutes of the documentary " Renaissance 2.0 " and research a Mathematically Perfected Economy. They get away with this because people are stupid, more than likely the reset will kill a good portion of Americans because we are on ground 0 in this unsustainable house of cards.
Ah Renaissance 2.0! Definitely in the Top 5 of best vids ever. Highly recommended!
What are 1-4 best ? I know some of the Mr. Wu films are in the top 5 as well....
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Moretorque
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Re: Americans Are Dying With an Average of $62K in Debt

Post by Moretorque » March 24th, 2017, 8:32 pm

Adama wrote:Until and unless you get saved, you're probably going to follow after Satan, who runs and controls all the kingdoms of the world, including every false religion, which are "false ways" (as Jesus in the only true way).
You should be gassed as well..............
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Adama
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Re: Americans Are Dying With an Average of $62K in Debt

Post by Adama » March 24th, 2017, 8:39 pm

Eric wrote: Grab your families and hold them tight. Start a family of your own...get rid of this garbage from out of your head. If it's not Biblical - forget it.
That's pretty impressive.

pete98146
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Re: Americans Are Dying With an Average of $62K in Debt

Post by pete98146 » March 24th, 2017, 8:44 pm

Moretorque wrote:
pete98146 wrote:
Moretorque wrote:Watch the first 15 minutes of the documentary " Renaissance 2.0 " and research a Mathematically Perfected Economy. They get away with this because people are stupid, more than likely the reset will kill a good portion of Americans because we are on ground 0 in this unsustainable house of cards.
Ah Renaissance 2.0! Definitely in the Top 5 of best vids ever. Highly recommended!
What are 1-4 best ? I know some of the Mr. Wu films are in the top 5 as well....
I like some of the Rothschild family docs. Renaissance 2.0 may be my favorite! It's so well done and informative. Should be mandatory watching for everybody...

Moretorque
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Re: Americans Are Dying With an Average of $62K in Debt

Post by Moretorque » March 24th, 2017, 9:38 pm

pete98146 wrote:
Moretorque wrote:
pete98146 wrote:
Moretorque wrote:Watch the first 15 minutes of the documentary " Renaissance 2.0 " and research a Mathematically Perfected Economy. They get away with this because people are stupid, more than likely the reset will kill a good portion of Americans because we are on ground 0 in this unsustainable house of cards.
Ah Renaissance 2.0! Definitely in the Top 5 of best vids ever. Highly recommended!
What are 1-4 best ? I know some of the Mr. Wu films are in the top 5 as well....
I like some of the Rothschild family docs. Renaissance 2.0 may be my favorite! It's so well done and informative. Should be mandatory watching for everybody...
There are no descent films or information on the Rothschild's,
Last edited by Moretorque on March 25th, 2017, 3:32 am, edited 2 times in total.
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Contrarian Expatriate
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Re: Americans Are Dying With an Average of $62K in Debt

Post by Contrarian Expatriate » March 24th, 2017, 10:11 pm

This is understandable since most people owe mortgage debt and car loan debt.

This is not to say that they die with a negative net worth, but they died before their loans were fully paid off.

I could care less if I have debt at death. I hope that I right my very last check on my deathbed. With any luck, that last check would bounce!

Moretorque
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Re: Americans Are Dying With an Average of $62K in Debt

Post by Moretorque » March 24th, 2017, 10:29 pm

I was reading I believe millenials actually own nothing and are like 11 thousand in the hole.
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Contrarian Expatriate
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Re: Americans Are Dying With an Average of $62K in Debt

Post by Contrarian Expatriate » March 25th, 2017, 12:20 am

Moretorque wrote:I was reading I believe millenials actually own nothing and are like 11 thousand in the hole.
Student loans is the likely culprit there....

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Zambales
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Re: Americans Are Dying With an Average of $62K in Debt

Post by Zambales » March 25th, 2017, 2:58 am

Kradmelder wrote: They are buying shit they dont need.
It amazes me the spending habits of some people.

I once knew of a guy who bought a solitary shoe from a thief who stole it. He seemed to think it was good value. I shit you not. :lol:

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Adama
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Re: Americans Are Dying With an Average of $62K in Debt

Post by Adama » March 25th, 2017, 3:12 am

Zambales wrote:
Kradmelder wrote: They are buying shit they dont need.
It amazes me the spending habits of some people.

I once knew of a guy who bought a solitary shoe from a thief who stole it. He seemed to think it was good value. I shit you not. :lol:
Maybe he was being kind enough to return it to its original owner.

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Zambales
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Re: Americans Are Dying With an Average of $62K in Debt

Post by Zambales » March 25th, 2017, 3:51 pm

Adama wrote:
Zambales wrote:
Kradmelder wrote: They are buying shit they dont need.
It amazes me the spending habits of some people.

I once knew of a guy who bought a solitary shoe from a thief who stole it. He seemed to think it was good value. I shit you not. :lol:
Maybe he was being kind enough to return it to its original owner.
LOL. I can assure you 100% that this was not the case!

ladislav
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Re: Americans Are Dying With an Average of $62K in Debt

Post by ladislav » March 25th, 2017, 11:39 pm

The US ( and most other capitalist countries) runs on credit. And this article is sensationalist. Because this debt is mainly generated by real estate loans. And there is often equity there as well. What is not mentioned is that the children will just sell the house, cash out and pay back the balance to the bank. Or keep paying the mortgages and living in those houses. Rent them out and the tenants will continue paying for the loans.

Also, if the debt is something else, the US laws do not make the descendants responsible for the parents' debts.
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Moretorque
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Re: Americans Are Dying With an Average of $62K in Debt

Post by Moretorque » March 26th, 2017, 1:37 am

ladislav wrote:The US ( and most other capitalist countries) runs on credit. And this article is sensationalist. Because this debt is mainly generated by real estate loans. And there is often equity there as well. What is not mentioned is that the children will just sell the house, cash out and pay back the balance to the bank. Or keep paying the mortgages and living in those houses. Rent them out and the tenants will continue paying for the loans.

Also, if the debt is something else, the US laws do not make the descendants responsible for the parents' debts.
Ladislav you still believe all that spoon fed nonsense fed to you since you were born ? What capitalist countries COMRADE!

You should watch the video stated above " Renaissance 2.0 " ..
Last edited by Moretorque on March 26th, 2017, 10:39 am, edited 2 times in total.
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Rock
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Re: Americans Are Dying With an Average of $62K in Debt

Post by Rock » March 26th, 2017, 3:44 am

ladislav wrote:The US ( and most other capitalist countries) runs on credit. And this article is sensationalist. Because this debt is mainly generated by real estate loans. And there is often equity there as well. What is not mentioned is that the children will just sell the house, cash out and pay back the balance to the bank. Or keep paying the mortgages and living in those houses. Rent them out and the tenants will continue paying for the loans.

Also, if the debt is something else, the US laws do not make the descendants responsible for the parents' debts.
Well I believe the most common kind of debt was credit card with mortgage the second most common. But I agree with what you are seem to be implying here - that the salient figure is not average gross debt of Americans who die but rather their net worth or their assets less their liabilities.

If a person has outstanding debt from combo of mortgage, credit card, and say student loan totaling $62 K but also has a house with a market value of say $300 K plus cars and other items which can be liquidated for a total of say $25 K more, then his net worth is $300 + 25 - 62 = $263 K.

Descendants are not directly responsible for outstanding debt of the deceased but his estate is. Therefore, in probate, I believe the assets liquidated or borrowed against to first settle outstanding debt before the remainder, if any, is distributed to inherit-ants. Of course the IRS and relevant state revenue services will demand their cut, if any is due, from these final beneficiaries too.

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