Sign in to follow this  
Followers 0
soulflower

Americans owe more, save less, and are poorer than in decades

84 posts in this topic

Posted (edited)

1 hour ago, EGoldstein said:

According to the graph in the linked article, the trend of zero or negative non-home wealth started in 2001, that Obama was president longer than anyone knew.  :rolleyes:

That’s why many called him Obushma...both likeable guys from Ivy League U who never accomplished anything noteworthy before they took office and really brought nothing to the table.  

Edited by RileyMartin

Share this post


Link to post
Share on other sites
33 minutes ago, RileyMartin said:

That’s why many called him Obushma...both likeable guys from Ivy League U who never accomplished anything noteworthy before they took office and really brought nothing to the table.  

Neither does the current occupant of the White House, unless you want to count several failed businesses and the multiple bankruptcies as bringing something to the table.  

Share this post


Link to post
Share on other sites

Posted (edited)

1 hour ago, bmore_ken said:

If you don't know basic financial management , you have no business being a parent. I had no problem teaching my children on basic finance. Managing a budget, savings, using credit responsibly and the basics on the stock market. If you're going to put that type of stuff in the school curriculum, what are you removing to fit the time constraints of the school year? Or maybe you want to expand the school schedule to 10 hour days and year round classes? 

I agree. However, I can identify among my acquaintances a few people who would not qualify as parents should this criterion ever be mandated somehow (not that I am suggesting criteria for parenting). I'll bet you know a few as well.

Edited by Evil Yoda

Share this post


Link to post
Share on other sites

Posted (edited)

19 minutes ago, Evil Yoda said:

I agree. However, I can identify among my acquaintances a few people who would not qualify as parents should this criterion ever be mandated somehow (not that I am suggesting criteria for parenting). I'll bet you know a few as well.

I absolutely do. It's just my opinion that I would rather the schools focus on academics as opposed to life skills with the limited time they have with our kids. If you can fit it in with everything else, by all means let's do it.  However if it comes down to my child taking an advanced math class or taking a class on Managing a 401K, there's no contest. The school can take care of math, I got the 401K education covered.

Edited by bmore_ken

Share this post


Link to post
Share on other sites

Posted (edited)

1 hour ago, EGoldstein said:

Neither does the current occupant of the White House, unless you want to count several failed businesses and the multiple bankruptcies as bringing something to the table.  

For sure...only difference is the Donald isn’t beholden to any of the special interests that the other two dopes shilled for.

 

sure you were a big Bloomberg fan banning everything eggheads thought was yucky..same deal just the other side of the coin. 

Edited by RileyMartin

Share this post


Link to post
Share on other sites
31 minutes ago, RileyMartin said:

For sure...only difference is the Donald isn’t beholden to any of the special interests that the other two dopes shilled for.

 

sure you were a big Bloomberg fan banning everything eggheads thought was yucky..same deal just the other side of the coin. 

Could you put that last sentence into English please? 

As far as Donny is concerned, are you sure he isn't beholden to any special interests?  I'll bet he is.  

Share this post


Link to post
Share on other sites
31 minutes ago, EGoldstein said:

Could you put that last sentence into English please? 

As far as Donny is concerned, are you sure he isn't beholden to any special interests?  I'll bet he is.  

Just Russia..the 3,900th bombshell is dropping tomorrow and the resistance is going to prevail.  🙄

Share this post


Link to post
Share on other sites
35 minutes ago, EGoldstein said:

Could you put that last sentence into English please? 

As far as Donny is concerned, are you sure he isn't beholden to any special interests?  I'll bet he is.  

Trump is a special interest .....

He made his money like a good democrat getting special treatment, tax breaks, etc. from big city Democrats for urban renewal projects .....

He's been the other side of what's wrong with government his entire life .....

Share this post


Link to post
Share on other sites
28 minutes ago, RileyMartin said:

Just Russia..the 3,900th bombshell is dropping tomorrow and the resistance is going to prevail.  🙄

Just Russia?  I think that you are forgetting about a lot of people who got their rings kissed.

Share this post


Link to post
Share on other sites
24 minutes ago, Eastside Terp said:

Trump is a special interest .....

He made his money like a good democrat getting special treatment, tax breaks, etc. from big city Democrats for urban renewal projects .....

He's been the other side of what's wrong with government his entire life .....

If only the GOP ruled everything, life would be grand.  So how is the GOP majority in Congress doing?  Getting a lot of work done, right.

Share this post


Link to post
Share on other sites
2 minutes ago, EGoldstein said:

If only the GOP ruled everything, life would be grand.  So how is the GOP majority in Congress doing?  Getting a lot of work done, right.

Ok, that's a pretty bizarre response but if it makes you feel better ......

Share this post


Link to post
Share on other sites

I'm not Rich by any means but I learned long ago to pay off my CC bill every month. I don't carry any debt, house & car were paid off long ago.

Share this post


Link to post
Share on other sites
5 hours ago, kandace said:

If you have a job that requires commuting because you can’t afford to live close to your job, a car is a necessity  not a luxury.  And new cars require less maintenance which is covered by a warranty anyway. And don’t say public transportation is an alternative.  Large number of metro areas have spotty public transport outside the inner urban core.

Agreed,...almost.

A properly maintained car of recent vintage can last more than 200,000 miles and will require less frequent and less costly repairs.

 

Share this post


Link to post
Share on other sites
12 hours ago, Rael said:

I disagree. Well over 50% of Americans benefit directly by the stock market being a highly productive investment, and when you factor in things like whole life insurance policies, that number goes up even more. Saving is discouraged by policy but investment is not. 

I get that but as someone who is still relatively young, investments and retirement savings does very little for me today.

Long term, who knows what will happen? We could have another 2008-like crash that wipes out many people’s long term investments. 

Share this post


Link to post
Share on other sites
12 hours ago, Rael said:

This is a bit relative though, is it not? Poor in America today is different than poor 100 years ago.

Material things are cheaper because everything is made in China. Even poor people can afford smartphones and flat screen TVs. 

Services (ie Healthcare, utilities, insurance, etc) on the other hand are way more expensive today than 40-50 years ago.

Rent and Mortgages are sky high due to inflated market values and demand. 

The cost of college education is ridiculously inflated today. Working one’s way through college isn’t nearly as easy as it was decades ago. 

Share this post


Link to post
Share on other sites
4 hours ago, soulflower said:

Material things are cheaper because everything is made in China. Even poor people can afford smartphones and flat screen TVs. 

Services (ie Healthcare, utilities, insurance, etc) on the other hand are way more expensive today than 40-50 years ago.

Rent and Mortgages are sky high due to inflated market values and demand. 

The cost of college education is ridiculously inflated today. Working one’s way through college isn’t nearly as easy as it was decades ago. 

Nike shoes are expensive too, especially if you want those special editions.  Being made where they are doesn't really lower the prices either.  Just look at the labels of expensive dress shirts and other articles of clothing sold in stores to see where they're made.  Those high prices often mean higher profits, not lower prices passed along to consumers. Where are many of those expensive smart phones manufactured?

You can get a free college education in some places just by graduating from a public high school with a little effort.  Baltimore now givesa free two-year college followed by completion at Coppin for all who graduate from a city public school. Hopkins does the same.  Sadly, there isn't enough interest and relatively few are taking advantage of such a great opportunity.

People often have mixed up priorities. 

 

Share this post


Link to post
Share on other sites

Posted (edited)

6 minutes ago, Ode2Joy said:

Nike shoes are expensive too, especially if you want those special editions.  Being made where they are doesn't really lower the prices either.  Just look at the labels of expensive dress shirts and other articles of clothing sold in stores to see where they're made.  Those high prices often mean higher profits, not lower prices passed along to consumers. Where are many of those expensive smart phones manufactured?

You can get a free college education in some places just by graduating from a public high school with a little effort.  Baltimore now givesa free two-year college followed by completion at Coppin for all who graduate from a city public school. Hopkins does the same.  Sadly, there isn't enough interest and relatively few are taking advantage of such a great opportunity.

People often have mixed up priorities. 

 

What does that have to do with my comments? 

Are you saying individuals are to blame for the increasing inequality in society over the past 50 years?

Edited by soulflower

Share this post


Link to post
Share on other sites

Did I call it or did I call it?

I would say I'm a predictor of the future......but I just go back and look at liberal commentary of past Republican tax cuts.

Share this post


Link to post
Share on other sites
4 hours ago, soulflower said:

Material things are cheaper because everything is made in China. Even poor people can afford smartphones and flat screen TVs. 

Services (ie Healthcare, utilities, insurance, etc) on the other hand are way more expensive today than 40-50 years ago.

Rent and Mortgages are sky high due to inflated market values and demand. 

The cost of college education is ridiculously inflated today. Working one’s way through college isn’t nearly as easy as it was decades ago. 

Perhaps, but the average poor person in America has more living space than the average middle class person in Europe. They have a smart phone, a car, a DVD player, two televisions, etc. There aren't many going hungry in America. It is relative. 

Share this post


Link to post
Share on other sites

Posted (edited)

Just now, Rael said:

Perhaps, but the average poor person in America has more living space than the average middle class person in Europe. They have a smart phone, a car, a DVD player, two televisions, etc. There aren't many going hungry in America. It is relative. 

DVD player? They prolly have a VCR too. 

Edited by Marshan Man

Share this post


Link to post
Share on other sites
4 hours ago, soulflower said:

I get that but as someone who is still relatively young, investments and retirement savings does very little for me today.

Long term, who knows what will happen? We could have another 2008-like crash that wipes out many people’s long term investments. 

You can't be THAT young. I've been on here since 2001 and you have been here most of that time. Don't be like my ex-wife, who I begged for years to start her 403b plan as she was leaving matching funds on the table and she never got around to doing it. 

Share this post


Link to post
Share on other sites
4 minutes ago, soulflower said:

What does that have to do with my comments? 

Are you saying individuals are to blame for the increasing inequality in society over the past 50 years?

That's the traditional Republican platform.

Back to the original topic, Americans have been well trained to consume and do whatever it takes to consume. 

Share this post


Link to post
Share on other sites
1 minute ago, Marshan Man said:

DVD player? They prolly have a VCR too. 

My point is, being poor in America isn't the same thing as being poor in The Sudan. Do you disagree or just want to lob snide comments?

Share this post


Link to post
Share on other sites
7 minutes ago, mcorioles said:

Did I call it or did I call it?

I would say I'm a predictor of the future......but I just go back and look at liberal commentary of past Republican tax cuts.

 

6 minutes ago, mcorioles said:

So which is it ?

Trumps economy or Obamas?

 

 

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!


Register a new account

Sign in

Already have an account? Sign in here.


Sign In Now
Sign in to follow this  
Followers 0