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Old Yesterday, 01:04 PM
 
Location: Florida
63,371 posts, read 34,537,694 times
Reputation: 10565

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Quote:
Originally Posted by Eeyore1954 View Post
What type of car, what type of house etc.

if you really believe a big chunk of consumer debt is not caused by spending on bigger TVs, new phones, more expensive clothes/accessories etc then you are not familiar with the same middle class I am.
I remember when 40" Sony TV cost $3500 20 years ago (and it weighed about 100 lb). In today's dollars that would be about $6000. Today you can walk into Costco and buy a 60' HDTV for $600. An American middle class family has TVs, and some other niceties.
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Old Yesterday, 01:07 PM
 
Location: Florida
63,371 posts, read 34,537,694 times
Reputation: 10565
Quote:
Originally Posted by ottomobeale View Post
1300 A MONTH!?!

Pushing to finish my 189 a month note off because I hate paying. Used and 3 years old when I got it. Was worth every nickel. Got it and 43K and now at 144K mi and I have paid nothing but wear parts. I will drive it until it literally dies. Got 188K out of my last one. Went to 180K with very few problems but by 188K it was falling apart and 14 years old.
I can't imagine anyone paying $1300, unless they bought a Porche. I still drive my 2002 Acura, which I paid for in cash when I bought it used in 2005.
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Old Yesterday, 01:09 PM
 
Location: Suburb of Chicago
21,164 posts, read 10,196,462 times
Reputation: 20436
The middle class has been shrinking for some time so you can't hang this on Trump.

In addition, I don't know anyone who is unemployed, but knew some who couldn't find a job for years under Obama. If anything, our economy is more robust under Trump.

And as Volobjectitarian pointed out, some of this is on stupid consumers who aren't very smart about their finances.

My two Millennials wouldn't live the way these people in the article are living.
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Old Yesterday, 01:11 PM
 
Location: Florida
63,371 posts, read 34,537,694 times
Reputation: 10565
Quote:
Originally Posted by Volobjectitarian View Post
Nobody "deserves" anything. We each have that which we earn/keep via our choices and behaviors.
No one said anything about "deserving" anything. We are talking about working class Americans.
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Old Yesterday, 01:12 PM
 
Location: DFW
650 posts, read 176,890 times
Reputation: 1009
Quote:
Originally Posted by Daryl_G View Post
Want to see a huge adjustment in the Stock Market, job market, and GDP?
Want to see American trigger their own mini recession?
Just tell Americans to spend what they can afford, that's it.


Out Stock Market, Housing Market, consumer market, are all modeled around Americans going into debt and staying in debt. I guarantee that our own Government would BEG Americans to go back into debt to turn around the economy. I still remember George W. telling America that the best way to support the Troops is to shop. Not military signups or volunteering with families, no SHOP.
I concur.

There are not a lot of "how I got rich" stories where you hear:
" the wife and I got a tiny house and shared a 1999 Corolla while we opened up our dream business . We ate ramen, saved what we could, and paid our taxes so we could run an honest business, and I'll be damned if that sucker didn't just take off! Look at us now with our jets and our real estate fortune!"

Most people who write the rich people books say things like "debt is good. never use your own money- get credit from someone else. learn the tax loopholes" etc etc.
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Old Yesterday, 01:31 PM
 
Location: Seattle
919 posts, read 338,862 times
Reputation: 992
Quote:
Originally Posted by Finn_Jarber View Post
I can't imagine anyone paying $1300, unless they bought a Porche. I still drive my 2002 Acura, which I paid for in cash when I bought it used in 2005.

That's for two cars. She has new RAV4 and he has new top of the line Audi.
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Old Yesterday, 01:35 PM
 
Location: Florida
63,371 posts, read 34,537,694 times
Reputation: 10565
Quote:
Originally Posted by pete98146 View Post
That's for two cars. She has new RAV4 and he has new top of the line Audi.
RAV4 Lease is about $350, but Audis can be pricey depending on the model. Such purchases are a mistakes and a common in US, but nothing new.
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Old Yesterday, 01:48 PM
 
447 posts, read 120,051 times
Reputation: 1133
The amount of money that people spend on cars is just stupid.
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Old Yesterday, 01:54 PM
 
34,461 posts, read 18,694,993 times
Reputation: 7643
Quote:
Originally Posted by Finn_Jarber View Post
I remember when 40" Sony TV cost $3500 20 years ago (and it weighed about 100 lb). In today's dollars that would be about $6000. Today you can walk into Costco and buy a 60' HDTV for $600. An American middle class family has TVs, and some other niceties.



Then what is the point of you OP?



I also noticed you either missed my initial post, or just blew it off because you'd have to be honest....which is it?
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Old Yesterday, 01:56 PM
 
Location: Southeastern North Carolina
1,831 posts, read 3,296,340 times
Reputation: 3231
Quote:
Originally Posted by WiseManOnceSaid View Post
There's a solution to this. Stop buying things you can't afford and start paying cash for things you can afford. You then, in turn, will be out of debt....
That's what I've done. I live within my modest means and I am debt free. I'm sure as hell not part of the middle class though. Better to be free than to be a wage/debt slave to our corporate overlords in order to keep up appearances.
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