56% of Americans can't afford a $1,000 emergency expense: We are 'living in a paycheck-to-paycheck nation,' money expert says
56% of Americans can't afford a $1,000 emergency expense: We are 'living in a paycheck-to-paycheck nation,' money expert says
The current economic environment is ideal for shopping around for high-yield savings products and building your emergency savings.
Ok let's poll Lemmy. Upvote me if you can. Downvote me if you can't. I can so I'll keep my own upvote.
Is the poll for americans only?
I would assume since that is what the article is about. Idk
Depends. I have enough in savings to cover the cost, sure, but there's only enough in savings because I've been transferring about 25% of my paycheck to savings for the past 2 years in order to afford a wedding/honeymoon. So I'd just be pushing myself into a larger credit debt after the bills come due for the wedding services.
Yea that's how the 1% wanted it to be, they got it.
"We did it boys! Maximum efficiency! We extract literally every dollar possible from the peons! They have nothing left when we're done!"
Ah, I was wondering what dystopia felt like. Now I know I'm living in one
You ain’t seen nothing yet
We live in a cross-dystopia
this is an excellent time to introduce the idea that The Purpose Of A System Is What It Does. Not what it claims to do. Not what it tries but fails to do. What it does. You can be confident that every system is operating as-designed, doubly so when the "failures" of the system benefit the designers.
We live in a society where it's advisable for everyone to carry tampons, whether female or male, just in case of a gunshot wound ☹️
We’re fucked. But Lonnie can still buy a company and run it into the ground, so the system works!
What's so frustrating is watching people online ridicule the perception that we're not doing great collectively as a nation. If the bottom falls out and the 56% get wrecked financially the other 44% are going to feel it. And having anxiety about that is perfectly understandable.
The other 43% will feel it, the 1% will profit enormously when they pick up their assets for pennies on the dollar
I wonder if said money expert had the balls to explain why nobody saves money in the US. He touched on it just a little. He mentioned we are implored to spend. Not implored. Incentivized.
Every time a politician gets on TV and says we have to "stimulate the economy", what he means is he has to incentivize you to blow your paycheck the minute you get it. This is done by increasing the rate at which your money loses purchasing power. Then, when it's time for reelection, he will inevitably mention the fact that Americans can't afford a $1000 emergency expense. Wages need to go up! It's not the wage rate that makes us poor. It's the debasement rate of the currency. The debasement rate is a mechanism of wealth redistribution. Wealth is transferred using the cantillion effect from the poor to the rich.
Money printer goes brrr
Wait, don't worry! The economy is doing great. Whew. Disaster averted!
Trickle down economics to the rescue. Phew!
America didn't get rid of slavery, they changed it to wage-slavery.
Answers by survey... I'm not sure exactly how much I trust those results in either direction.