Is the average person really that poor? Then how the fuck are they buying new cars, going on vacations?
>>84309982>>buying new cars>he thinks people are buying cars>he thinks people are actually paying the full price of the car and owning it>he thinks the average person isnt by default tied to a 78-month car payment that wont be paid off by the time the car breaks downeven their vacations are financed
They just don't save. I mean, they do also make less money than middle class, but humans generally dont want to cut back on consumption, so they just go through all their earnings and live paycheck to paycheck.
This is the fall of the American Empire. Any sense of normalcy you can see is a facade
>>84309982>Is the average person really that poor?I see that you have paid attention to my words and started learning about finance.>Then how the fuck are they buying new cars, going on vacations?people lease or finance, they don't just buy. And there are good reasons for it. A typical every day car is a very heavily derpecating asset. People say, that once you drive out of the lot in your new car, the price of it has already dropped by 50%. It is a used car now. With the prices of higher end cars it makes no sense to pay cash right off the bat. Used market or car collecting are another story.>vacationsthey have 500 in savings, because they travel 3 times a year.Then there is the fact that have a lot of liquid assets, i.e. cash makes no sense, because inflation is real and it will just devalue over time, unless you invest.Good debt, anon, good debt. If a "rich" person needs cash, they don't save money, they go to the bank a take a loan against their current assets. Banks have cash they're willing to give against %.TL;DR: As I have told you in another thread, the whole world is finance, credit, and mortgage. No people keep tons of cash, esp not rich people.Continue learning finance.
>>84309982Normies go into debt. Anytime you're trying to buy something expensive, they show you financing options instead of payment options. I paid for major plumbing work with a wire transfer and they said I was the first person who'd ever paid without financing and they had to get their boss involved to even know where to send the wire.
>>84310094>Then there is the fact that have a lot of liquid assets, i.e. cash makes no sense, because inflation is real and it will just devalue over time, unless you invest.High yield savings accounts track inflation pretty well.
>>84310117>High yield savings accounts track inflation pretty well.yes, but depending on the type of account it and will not count as your liquid cash, because you won't be able to withdraw or use those funds nilly-willy for a period of time. It's just like an invsterment, except you don't buy shares or whatever yourself. Yes, you can choose to close it and withrdaw, but it will still take some time.
They're in debt you stupid fuck. The average american is in thousands of dollars in debt.
>>84310142Most savings accounts don't work like certificates of deposit. I can transfer to checking instantly and without restriction.
>>84309982>Is the average person really that poor? Then how the fuck are they buying new cars, going on vacations?The debt based economy, everyone.Those 'people' who fucked up the economy, and wage levels, for regular people should be burned at the stake.Also, Perot and Goldsmith were correct about globalism and outsourcing in the 90s, and were laughed at by the media.
>>84309982>Then how the fuck are they buying new cars, going on vacations?Most people aren't. You're just seeing the most vocal ones or boomer ragebait articles on social media or blanking out the seas of 2000-2015 cars on the road.
>>84310117>track inflation pretty wellno they don't. i won't bother explaining further because you are a retard.
>>84309997People are returning on buying used cars.
>>84309982Who are you talking about? I can't afford shit 70% of my income goes to rent. The only young person I know that owns a house is my sister who is a millionaire.
>>84309982I have $20 that needs to last until next friday
>>84309982>Then how the fuck are they buying new cars, going on vacations?Thats the poor mindset anon, to blow away what you just got right away.
>>84309982I must be the only one that read that differently. It says CASH savings, which to me implies cash on hand. In that case, of course most won't because everything is paid for digitally these days.
>>84310443that's what i was thinking.i estimate i have about 100 to 200 in *CASH* from various containers filled with coins
>>84310443There's no way, that would be stupid."Cash" in this context means liquid assets. Like a bank account but not including stocks or bonds.
>>84310536there's no way that almost half of US adults have less than 500 smackers to their name
>>84310557they do. you are conflating liquid cash with assets. house, car, etc in your name are all assets that count too.
>>84309982They're not. Im from Florida. All the people coming down here on vacation now are boomers. If you go out to a restaurant, all the people there are boomers. All the people in the regular grocery store are boomers. The only time I see people under the age of 65 is when I go to ALDI after work, which is the cheapest grocery store. 80% of what they stock is generic. They're the fastest growing chain in the US. People can't afford vacations, they can't afford to eat out, they can't even afford brand name goyslop any more.
>>84310596are you saying these people have less than $500 worth of money, AND assets combined?
>>84310523Yeah, I carry like $40 just in case of emergencies and a place is cash only for some reason.>>84310596That still doesn't seem plausible that 40% of adults, who I assume most work, blow through nearly all their money every single month. I also put zero trust in any "survey" as they're very easy to be controlled, outright fixed, or just made the fuck up.
>>84310523>rom various containers filled with coinslmao
>>84310665>That still doesn't seem plausible that 40% of adults, who I assume most work, blow through nearly all their money every single monthRent/mortgage and bills says hello
>>84309982>Waging, with nothing to show for it.
>>84310673When I was young I rented a 60 square foot converted laundry room to save money on rent. It's not hard to be frugal, people just don't do it.
>>84310695>When I was young I rentedWhat decadence, how very bourgeois lmao.It took me 12 years of working to afford a deposit on this house. Imagine having to postpone having a family into your 30s, very healthy for society but at least someone's yacht is a couple feet longer
>>8430998260% of consumer spending in the US is from the top 10%The US has transitioned to a stratified economy in the last 2-3 decades
>>84309982I've got over 100k in the bank right now, kek.
>>84310769Based Argentina NEET
>>84310769You're doing it wrong then. Put that shit into something that'll make you more money. Even going the super safe CD route is better than nothing.
>>84309982i cant afford a car or a house and have never gone a vacation. people are in such dire straights that they are financing groceries and defaulting on student loans. capitalism is failing... again. hopefully this is the last time. i dont understand why we keep reviving this wildly unstable system that naturally trends towards failure.>you will own nothing
>>84309982>Then how the fuck are they buying new cars, going on vacations?By spending all the money earned which is why they have no cash savings
>>84309982>>84309997fpbp people are renting playstations now lmao>this wasn't how the console wars were supposed to end
>>84310957we used to rent the N64 when that came out.nothing new here
>>84310695>It's not hard to be frugal, people just don't do it.the cost of living has tripled where i live, since i was a kid. wages have gone up about ~35%. there is no amount of being frugal that will overcome this structural issue with the economy.
>>84310969i didn't know that, i'd never heard of it but you have a point>blockbuster
>>84310969I'm a boomer so we rented nes games
>>84310976It's broken and fucked at this point. We're in the midst of a collapse. And there's no real way to fix it because we've committed to the money being fake for decades now. We're too far in.
>>84310977>live in deindustrialised hellscape stuck in the 80s where there is a Blockbusters still there, shelves and racking and everything. Just shut since the 2000sRenting PS1 games on Friday night, powering through the game over the weekend for the 48 hour rental was such a nice time
>>84310992of course there are ways to fix it. end the parasitic billionaires soaking up all the money, they are a scourge stealing all the resources at our expense. then redistribute via free university and college, public grocery stores, public banking, public housing. these things shouldnt be left up to the greediest people in the country, they have demonstrated they cannot be trusted to distribute basic necessities. then to avoid future corruption destroying this system again, you need public financing of elections. rich people being able to buy the government created this mess and that has to be addressed.
I'm thinking about bankruptcy. I have credit card debt and no assets.
>>84311038Yeah but I don't thibk any of that is happening until after a collapse and the chaos that will cause. Like you would actually have to revolt and hold elites accountable for anything real to change. And there's more than reason to, they're fucking children on private islands. AI and UBI could save us from collapse, but that will just give tech companies all the power.
>>84311049Me too anon. I have several credit card I haven't paid on for 6+ months. If one of them tries to sue me, I'm going to file bankruptcy in response. I have the cash to pay off one of the credit cards, or file bankruptcy and whipe all the debt. I think the latter is the better choice.
>>84311071ubi is bait. its better than nothing, but every grocery store is just going to massively jack up prices because they know you have an extra thousand dollars each month and they have items you cant live without. you really want a job guarantee with guaranteed living wage. yes, those policies would require an actual revolt to get passed, but they are real actual solutions to the west's problem. attaching the profit motive to demand inelastic things leads to those things being unaffordable, whoda thunk it.
>>84311091Yeah I'm just waiting and seeing. I've been trying to weigh the positives and negatives and the bankruptcy is significantly cheaper and simpler, but I have to hope nothing bad happens in 7 years (like medical debt) before you can file again.
>>84311091pretty sure bankruptcy results in your assets being auctioned off to pay the debts, its not a get out of jail free card. at least thats what happened to my store when i went under. im curious myself ill google itchapter 7 auctions off your assetschapter 13 you pay off the debt over timeyou either have to pay off the debt over time or your shit gets auctioned off to pay it. i wouldnt do it, but you do you.
>>84310663No.>less than 500 smackers to their namethey have more than 500 to their namesbut they still might only have 500 in cash.>>84310665>blow through nearly all their money every single month.people are financially irresponsible. But, also, min. wage jobs. Min. wage is way too fucking low. I'm not saying we must raise it asap, just saying, that plenty of people are in relative poverty, more or less. Esp when it comes to cash.> I also put zero trust in any "survey" as they're very easy to be controlled, outright fixed, or just made the fuck up.you are correct, people however do have plenty of expenses. A place to live, a car, food, electric, water, internet, and so forth are quite costly when combined. Not to mention want to eat out, travel, and might have children too.
>>84311174Your home is protected in my state if it's homsteaded and you've lived there for I thibk 5 years. Even then most people don't have assets. So if you're renting and own nothing, they can't take anything. I don't think you get how broke people are now.
>>84309982Maybe I'm pretty disconnected from the average person, but I don't even understand how someone can have so little in savings. If I only had $500 to my name, I would be frantically hoarding roommates to lower rent and going to food banks. I would be applying to every job in a 50 mile radius and working 2-3 jobs or doing a side hustle. That's poverty level. You don't get to live luxurious when you're down low like that.
>>84309982Poor person here, I've been around a lot of poor people and none of them are doing that stuff. They finance used shitboxes just to get to and from work and literally never go on vacation because they don't get paid for it like in the EU
>>84311442>new phone every year>new clothes multiple times a year>doordash>eating out>starbucks>alcohol>drugs>vacationsThe average person blows through so much on useless shit. If you tell them to stop those things, they look at you like you're asking them to do some impossible task.
how much in your savings /pol/?
>>84311536wrong board spaz
>>84311536>tries to datamine /pol/>fails because he's on the wrong boardHoly shit you retards get dumber every day
>>84311536Lol dumb glowie
>>84309982>going on vacationsbroke niggas in the states don't even take time off work let alone actually travel anywhere
>>84311510Luxury items for boomers were boats, RVs, and yearly family vacations. Luxury items for millennials and zoomers are cups of coffee, Chinese food, and pizza delivery. Thank really hard about what you're saying. This is why everyone wants to watch the boomers die btw.
>>84311827I get that, but the difference is that the boomers could afford those luxury items. It might suck, but you have to cut costs when you want to grow your wealth. Make your coffee at home for a fraction of the price, same with food. Use items until they break instead of buying new ones just to stay trendy. Cut out the fucking alcohol and drugs you bunch of addicts.
>>84311857People aren't going to work 10x are hard for less than what their parents had. They're going to do the bare minimum to get by, stay home, and chill the fuck out. Refuse to participate. And the birthrate is going to collapse. That's exactly what's happening now.And they're not buying the shit either. There's another thred in the catalog now about how gen z isn't buying alcohol.
>>84312022>People aren't going to work 10x are hard for less than what their parents hadNobody said they have to work 10x as hard. They do though have to get a job, do what the job asks, and then live below their means. Again, it shouldn't be seen as impossible to tell people to cook at home or make their own coffee instead of ordering food or eating out.>They're going to do the bare minimum to get by, stay home, and chill the fuck outGuess what, if you can stay living with your parents forever, this is 100% doable, and you can STILL save money, far more actually than some retard that thinks they need to immediately GTFO at 18.>And the birthrate is going to collapseI don't give a shit about this. Most countries are overpopulated as it is, not in a "we're running out space/resources" way, more in a "we just don't need that many retards". Do we REALLY need a dozen fast food places in a 5 mile area? No, and we don't need the sub-80 IQ people that would work there either. You can easily shave tens of millions off the US population, and it would be better for it.
>>84312022>There's another thred in the catalog now about how gen z isn't buying alcoholForgot this one. Yes, but vaping has skyrocketed among gen z, as has weed smoking. They're simply exchanging one for the other. Cigarette & alcohol go down, vaping & week use goes up. So again, cut out the fucking drugs you bunch of addicts.
>>84312138The entire economy is a ponzi scheme. Social security is a ponzi scheme. If they stop working and reproducing, it's all going to crumble. The incentive is gone. The social contract is worth the paper it's printed on.The young men have no desire to support or participate in a system that rejects them. No pussy, no work on a society level.
>>84312176Yes, SS is a ponzi scheme, but it's never going away. People keep talking about it going broke, but it never does. All that happens is they print more money to fund it.>If they stop working and reproducing, it's all going to crumbleThis would be true if there weren't billions of low IQ retard that can easily be funneled into any country to keep shit afloat. Should it all crumble and rebuild? Absolutely, but we're all to chickenshit to let it happen. Nobody wants to live through the horrible time that would come during the rebuild.>The young men have no desire to support or participate in a system that rejects themGovernment has a solution to that, see Russia & Ukraine.
>>84310976>where i live,Move.
>>84309982Hello OP and welcome to 4chan. Please make sure to read the rules as you must be older than 18 to post here.Conversely if you are over 18 and this is still a surprise to you then on behalf of all other anons I would like to take this opportunity to let you know that you are fucking retarded.https://commons.wikimedia.org/wiki/File:Wealth_distribution_by_percentile_in_the_United_States.png
>>84309982How are you not surprised? The statistic that the average person on the street would be financially ruined by a surprise $400 mandatory bill has been passed around for over a decade now. It's honestly a miracle the US has lasted this long without degenerating into actual third world status, though the consequences of our own fucktardation are finally catching up to us...And that's a good thing!
