What will you do to protect your standard of living?

[Aznsilvrboy]

In general, the developed western world currently enjoys a high standard of living, but the developing countries are on their way to become "developed" and the standard of living in those countries are rising rapidly. I'm sure you have all read something along the lines of "if the rest of the world lived like us, we would need X Earths". Obviously, we only have one Earth so that's not possible so some sacrifices will have to be made and something (or someone) has got to give. So what will you do? What should we as a country do?

[yao416]

Keep working for my minimum wage job

[Nook]

Keep working for my minimum wage job

Lol so humble. :o

[Mark77]

Invest in an asset class that is a) in demand by those with the rising standards of living, and b) can withstand a domestic monetary collapse that is inevitable due to the deflation that the huge worldwide workforce implies.

[Nook]

Invest in an asset class that is a) in demand by those with the rising standards of living, and b) can withstand a domestic monetary collapse that is inevitable due to the deflation that the huge worldwide workforce implies.
Such as?

[Syne]

As Mark implies, I believe we will see the monetary system revolutionized before I die. If we do it properly, we can elevate developing countries without taking too many steps backward in our own.

Essentially the board needs to be reset because the game has changed, and sooner rather than later because things will only get messier the longer we wait.

[kabza]

Well apparently our government(s) is/are willing to invade and bomb other countries to maintain the status quo.

[Nook]

Well apparently our government(s) is/are willing to invade and bomb other countries to maintain the status quo.

Wars only protect the interests of the wealthy and corporations (oil companies, weapons manufacturers, etc.) The rest of us lose out by paying for them with our taxes and get rewarded with higher gas prices.

[xXxRasxXx]

In general, the developed western world currently enjoys a high standard of living, but the developing countries are on their way to become "developed" and the standard of living in those countries are rising rapidly. I'm sure you have all read something along the lines of "if the rest of the world lived like us, we would need X Earths". Obviously, we only have one Earth so that's not possible so some sacrifices will have to be made and something (or someone) has got to give. So what will you do? What should we as a country do?

Get prepared to work overtimes and weekends..

[jaysfan4life]

Off shore bank accounts

[mbg]

jobs of the future are probably all connected to porn in some way

i just hope the Chinese don't get into that.

[Le Loon]

Get prepared to work overtimes and weekends..

Already there :(

[fuzzy_avocado]

Stock up on ramen noodles!

[jaxx lite]

So what will you do?

Try to find a woman / man with a high paying job
or a woman / man with rich parents

:idea::idea:

-

[Jordan866]

This is a very true and interesting argument OP. Seems like no one has the answer. It's funny how we learn in school about how we are running the world into the ground but yet we are doing nothing about it. Given although it is a very complicated and difficult problem. Will be interesting to see how the World is in a few hundred years, oh wait I'll be dead :(.

Our generation is being selfish in a sense that we are taking away from the ability of future generations to enjoy the world as we did. Everyone knows that they will die and not have to deal with the problems that are being started right now.

[kingrukus]

Maybe Ill get a job. Maybe.

[aTriangle]

Decrease my standard of living. I have a pretty good life, and most of the things that are most valuable to me don't cost anything.

[flashy_mcflash]

Decrease my standard of living. I have a pretty good life, and most of the things that are most valuable to me don't cost anything.

Same. I am on a slow path towards minimizing my 'wants' in favour of my 'needs' until my debt (mortgage) is more substantially reduced. I'm the kind of person that hates to owe money and have never even been a day late on a credit card payment in my life. I allow myself indulgences, but never feel quite comfortable with that debt looming over my head.

[Jordan866]

Same. I am on a slow path towards minimizing my 'wants' in favour of my 'needs' until my debt (mortgage) is more substantially reduced. I'm the kind of person that hates to owe money and have never even been a day late on a credit card payment in my life. I allow myself indulgences, but never feel quite comfortable with that debt looming over my head.

A good way to live. I always see people living beyond their means and I think it is absolutely silly as well. Funny how this even happens to people who become very rich as well. Keeping up with the Jones' I guess.

[RolandCouch]

Same. I am on a slow path towards minimizing my 'wants' in favour of my 'needs' until my debt (mortgage) is more substantially reduced. I'm the kind of person that hates to owe money and have never even been a day late on a credit card payment in my life. I allow myself indulgences, but never feel quite comfortable with that debt looming over my head.

This.

I constantly try to find ways I can cut back.

[Le Loon]

As Mark implies, I believe we will see the monetary system revolutionized before I die. If we do it properly, we can elevate developing countries without taking too many steps backward in our own.

One world currency (http://en.wikipedia.org/wiki/Bancor) will surely be the answer. When I work as a financial economist, I hope to make John Maynard Keynes' dream a reality.

[XtremeModder]

jobs of the future are probably all connected to porn in some way

i just hope the Chinese don't get into that.

Depending on what youd want to do in that industry it can make a lot of money... I've contemplated on getting into that industry but not in the sense that everyone would think haha

[brunes]

This is a very true and interesting argument OP. Seems like no one has the answer. It's funny how we learn in school about how we are running the world into the ground but yet we are doing nothing about it. Given although it is a very complicated and difficult problem. Will be interesting to see how the World is in a few hundred years, oh wait I'll be dead :(.

Our generation is being selfish in a sense that we are taking away from the ability of future generations to enjoy the world as we did. Everyone knows that they will die and not have to deal with the problems that are being started right now.

The truth of the matter is the laws of economics will win out in the end. It will take a long time, but supply and demand always wins. As resource become scarce, they will cost more, and people will have to finally start making some tough decisions about if their giant 7 passenger SUV is really needed when gas costs $5 / gallon, or if the NIMBY protesters will think wind, water, and solar power is so bad when their oil and gas power bill reaches 30 cents / kwh and there are daily brownouts every summer and winter. The whole "we would need three earths" argument is a false dichotomy because we DON'T have it, so it doesn't matter - things will become scarce, prices will go up, and people (and the market) will decide what is REALLY important. It is highly unlikely to result in some kind of un-winding of civilization. Humanity will adapt.

[sandikosh]

In general, the developed western world currently enjoys a high standard of living, but the developing countries are on their way to become "developed" and the standard of living in those countries are rising rapidly. I'm sure you have all read something along the lines of "if the rest of the world lived like us, we would need X Earths". Obviously, we only have one Earth so that's not possible so some sacrifices will have to be made and something (or someone) has got to give. So what will you do? What should we as a country do?

I say we start wars between poor countries. War will keep them down.

[Sazafraz]

I have faith in the human race that we will have some crazy new innovations in the future that allow us to have plentiful resources before they run out. i.e I doubt we will run out of water because we will probably have new cheap technology that will filter ocean water or something and we will live happily ever after.

[Aznsilvrboy]

I say we start wars between poor countries. War will keep them down.

If we intervene like that, they would retaliate. Are you willing to bear the consequences?

[uber_shnitz]

If we intervene like that, they would retaliate. Are you willing to bear the consequences?

If we had the US backing us maybe :lol:

Ok I kid I kid, but I mean, eventually standards of living will have to adjust, same with expectations. Then everything will head abck to Long-Run Equilibrium. Yay for Economics theory :razz:

[stealth]

If we intervene like that, they would retaliate. Are you willing to bear the consequences?

Sometimes I think having a war on our own land is the only thing that will help get north americans priorities straight. we're too spoiled and soft.

[AudiDude]

Same. I am on a slow path towards minimizing my 'wants' in favour of my 'needs' until my debt (mortgage) is more substantially reduced. I'm the kind of person that hates to owe money and have never even been a day late on a credit card payment in my life. I allow myself indulgences, but never feel quite comfortable with that debt looming over my head.


A good way to live. I always see people living beyond their means and I think it is absolutely silly as well. Funny how this even happens to people who become very rich as well. Keeping up with the Jones' I guess.


This.

I constantly try to find ways I can cut back.

This, this and this.

[zoober]

My first job was as a dishwasher in a zellers restaurant when I was 14.

I'll probably keep doing what I've been doing ever since. Learning, growing my skills and getting a nice pay raise or a new job every few years.

I work in entertainment, so if more people start actually buying product in Asia/Africa instead of stealing everything, that's good for me.

[iEyeCaptain]

Move to the middle of Newfoundland, near a lake.

Farm and grow my own food.

[divx]

this is a non-issue, I will adapt and adopt as I always have.

[bullionaire]

Liberate an oil rich country in the Middle East.

[Aznsilvrboy]

Liberate an oil rich country in the Middle East.

I don't think Canada has the capability to liberate anyone these days. Those oil rich countries have much better equipment than we do and have a much larger military budget than us.

[divx]

I don't think Canada has the capability to liberate anyone these days. Those oil rich countries have much better equipment than we do and have a much larger military budget than us.

join the chinese farmers and farm diablo 3 gold?

[epik89]

your standards of living will always change.

and you WILL adapt to maintain it. thats just life.

[ali123]

Just expand your portfolio to include international investments

[webdoctors]

i think technology and free market will fix things.

[Wallly]

I will grow more potatoes !

[r1lee]

When things I own get old, I toss them and buy new things. Therefore protecting my standard of living.

[Agafaba]

Die, or be lucky and somehow not get drafted. I dont think I have the right personality to do well as a soldier, so I assume my survivability during WW3 would depend on my ability to avoid being one.

[mbg]

I will grow more potatoes !

+1

[Jordan866]

One world currency (http://en.wikipedia.org/wiki/Bancor) will surely be the answer. When I work as a financial economist, I hope to make John Maynard Keynes' dream a reality.

Not sure how that would work out but it sure would make global business a lot more simple and streamlined I think. Would be nice to have universal cash, good all around the world.

[aplayaz2000]

fight for my freedom

what will ye do without freedom