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Sovereign Bear | 1 months ago (raw) | root | parent | reply | flag 
 We only 'need' credit because everything we want to buy is inflated way beyond what it is actually worth.

In 1950 the average annual family income was $3,300, and the average cost of a house was $7,400. The only thing that has changed in that time is the money got inflated and became worthless. 

If anything, through technological progress things should get cheaper over time because they become easier to produce at scale.  

You can still do this today, but it takes time and disciplined. It's meant to be difficult so we rely on their systems of extracting more from us through loans.
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El Guiri | 1 months ago (raw) | root | parent | reply | flag +1 
 Thankyou for wording things better than I do! Greatly appreciated. And yeah, I do understand that creaky joints aside, I am quite priviledged in my situation but I did also achieve it by hard work and not living beyond my means
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Sovereign Bear | 1 months ago (raw) | root | parent | reply | flag 
 It's really not easy to get away from the system of credit, since the fiat world is designed to almost coerce you into it, and that is THEIR means of income after all. It's amazing how far they have taken it, their greed disgusts me.
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El Guiri | 1 months ago (raw) | root | parent | reply | flag 
 Agreed. It's a bitch. Have sometimes wondered how much of an impact computers had. So much easier to create more money with a keypad and enter key. Wonder if there is a correlation between CPU speed and house price inflation? 🙄🤔
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fiatdenier | 1 months ago (raw) | root | parent | reply | flag +1 
 Assuming USD is debasing at min 10% per year. You would lose around 65.13% of your purchasing power after 10 years, 87.84% after 20 years, and 95.76% after 30 years.
Saving for 30 years in fiat currency to buy a house doesn’t make any sense
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Sovereign Bear | 1 months ago (raw) | root | parent | reply | flag 
 At the beginning of a fiat standard, before inflation really sets in, you would only need to save for 2-5 years based on the figures I provided, and you could afford a house.

In a Bitcoin standard, there would be ~no inflation and the same would be true too.

The idea that it takes 30 years of labour to buy a house in the first place is very specifically a fiat created problem. A manufactured issue that has become so normalized that almost everyone with a house has a mortgage of that length, because that's the only way to afford it. This only became the norm after the FED started raising rates and inflating the currency.

https://m.primal.net/KuyV.png