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. www.chrismartenson.com
#1 by christo930 on 11/23/2011 - 12:55 AM
@stocktradinginvestor Do you want to work for 1/10th of what you are working for today, because that would be the outcome.
#2 by christo930 on 11/23/2011 - 1:16 AM
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 This material is now over 4 years out of date and things are generally worse today than 2006-7.
#3 by stocktradinginvestor on 11/23/2011 - 1:50 AM
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).
#4 by stocktradinginvestor on 11/23/2011 - 2:22 AM
@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.
#5 by tedbilmer on 11/23/2011 - 2:48 AM
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.
#6 by Thewizzardof9 on 11/23/2011 - 2:53 AM
you were right when you said you do not understand it.
#7 by achilles2754 on 11/23/2011 - 3:29 AM
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.
#8 by ehswan on 11/23/2011 - 4:13 AM
This fellow deserves to be listened to.
#9 by ziggy2sound4u on 11/23/2011 - 5:10 AM
@Meathead36
You know, that is exactly how it is for me too.
Most of my relatives deny anything is even wrong and many people that I work with just kind of “nod and wink” or get silent when you try to warn them.
How can anyone possibly think that a nation can continue to spend more than it takes in?
While I don’t have the money for gold/silver, I have stocked canned goods, ammo, and obtained livestock……
#10 by Meathead36 on 11/23/2011 - 6:00 AM
@ziggy2sound4u These individuals running our world financial system keep coming up with more manipulation and scams to keep our economies afloat. They are now talking about a massive Stimulus Part 2. I’m fully prepared for the unavoidable crash. Outside of the people I speak to online, nobody I know has anything prepared.
#11 by ziggy2sound4u on 11/23/2011 - 6:47 AM
@Meathead36
Well, we are still “chugging along” one year later.
My question: Have you been putting back for the crash, that is sure to come?
I suggest, IF you have not already, INVEST in some form of livestock…..
#12 by kikrlbs on 11/23/2011 - 7:40 AM
I really hope shit hits the fan and all of these sheep will be addicted to anti-depressants wondering what the hell happened as I sit back and laugh while watching the failure of civilization. People are so fucking retarded it makes me think we almost shouldn’t exist anymore. This guy is a fucking genius, thanks Chris!!
#13 by BigfootIsMyPal on 11/23/2011 - 8:24 AM
Why has this person’s comment been marked as spam. It’s not spam. He simply has an opinion.
#14 by b1gr1g on 11/23/2011 - 8:39 AM
Love the video, thanks!
#15 by ispeakthetruth2008 on 11/23/2011 - 8:42 AM
This guy is a tool. He is NOT an investment professional, has NO experience or EXPERTISE in the financial markets, economics or anything related to investments. Noticehow he is reading from a script. hahahaha. This guy is a vulture preying on the desperation of investors, selling his “crash course” trash. Hey dude, STOP RIPPING PEOPLE OFF. YOU DID NOT PREDICT THIS MESS AND YOU HAVE NO EXPERTISE TO UNDERSTAND IT. You’re a crook who obviously lost your job and now you’re trying to take ppls money
#16 by Meathead36 on 11/23/2011 - 9:25 AM
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
#17 by UnderseaCaveman on 11/23/2011 - 9:57 AM
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!