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The US Household Net Worth has hit records! This is totally at odds with the media narrative that so many people are suffering, so many people are living paycheck to paycheck etc.
No Job, Loads of Debt: Covid Upends Middle-Class Family Finances
The pandemic is wreaking havoc in loan-laden white-collar workers’ households; ‘I will never claw my way out of this situation’
No Job, Loads of Debt: Covid Upends Middle-Class Family Finances
The pandemic is wreaking havoc in loan-laden white-collar workers’ households; ‘I will never claw my way out of this situation’
One family is just a data point (WSJ article), an average moving is a trend.
It is very ironic that they use foreclosure lawyers to say some white collar families are having problems - they are in this situation because of lack of foreclosures due to he NY prohibition against foreclosures during COVID-19 and yet are also protected by someone taking that same action against them.
Why would One spend so much time debating what straw people you don’t know have ? No one else matters except for you ...you are responsible for your own financial well being ......
My concern is that I can stay financially healthy ......I don’t care about what others supposedly have or don’t have , it don’t help me in the least and there is nothing I can do about it if I did care
We are in a kind of transitory period at the moment. There was ridicoulously generous and unprecedented large stimulus passed when the pandemic hit. That put us into a kind of sugar-high.
The reality is going to come down to earth sooner or later.
Mathjak has pointed this out before. Starting next month we are going to start to see large companies convert on-paper furloughs into layoffs. We're seeing it start with Disney's layoff annoucement. For a few months, those people were on indefinite furlough. Well, now it's clear they're not going to get to open those parks anytime soon and things are getting real. The "economy of the real" is going to start showing itself, and the digital sugar-high economy will start to subside.
Other realities will start to manifest. Landlords will eventually have to evict people not paying rent, etc...
Not quite; being struck by lightning is random. To suggest poverty, unemployment (highlighted by the pandemic) and/or racism is due to our 'boredom' as a country is so outrageous, it's laughable.
It’s irrelevant. Being killed by a cop for no good reason is so rare that one would basically be a recluse when the danger is compared to truly random acts like car wrecks. You probably have better odds of winning $1M+ in a lottery.
And yes, the lack of “problems” can certainly allow our priorities to be reorganized.
excuses and more excuses........ live within your means or find a marketable skill that changes your lot in life, if you're living hand to mouth nobody cares.....that's on you.
The "let em eat cake" mentality was ever so successful during the French Revolution. Ignore the poor, then why should they have any sympathy for you? Living on the backs of a poor class is evil. As wise man once said, it is easier for a camel to go through eye of a needle than for a rich man to get into heaven. Do your regularly brag how many people you screwed over to get your wealth?
Why would One spend so much time debating what straw people you don’t know have ? No one else matters except for you ...you are responsible for your own financial well being ......
My concern is that I can stay financially healthy ......I don’t care about what others supposedly have or don’t have , it don’t help me in the least and there is nothing I can do about it if I did care
Unfortunately, this is the same attitude adopted by those who refuse to wear masks or social distance.
About the only nice thing about getting old is that you have had decades to collect personal wealth. Our population is ageing.
It would be odd if the old farts hadn't paid off their mortgages and padded their savings.
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