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I represent a lot of civil lawsuit defendants. They come to our office with that long look on their face and persuade my colleague that they are really on hard times,can't afford anything for representation. Yet they travel. I think some of this the incentivizing effect for getting "help" by rendering themselves helpless.
There are savers and non savers so it really is about priorities.
I would say it is shocking but not surprising that so many people can't even save $400.
I have a relative who is a year younger than me who has never had any savings at all and he's never concerned about that even though he is constantly broke.
There are a lot of people who think that poor people don't have agency in their lives and that they aren't able to make choices for themselves.
That's the infamous "soft bigotry of low expectations," and the left are utterly notorious for thinking so little of others' capabilities, particularly those of specific demographic groups.
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While some people just lack the brains to plan ahead, there are a large number of people who just refuse to plan ahead. They know that they should but they just won't for whatever reason. Then those same people will turn around and blame someone else for what they inflicted on themselves.
I wonder if the 40% includes the number of people who are too poor to have a $400.00 emergency? You to a least be someone whose refrigerator or water heater goes out and you don't have a credit card. Homeless people and people living on government subsidies who don't have bills, cars , rent, and have medical a card probably don't have $400.00 emergencies either. Most of these people I see are more in the $10.00-20.00 emergency range. Many of them can easily panhandle that much every day.
I took out 400 yesterday just to throw a cheap glass on a new truck gun. Geez, it's only 400 bucks. Maybe some people need to move where they can afford it. Or buy food before smokes and booze. That whole personal responsibilities meme.
I took out 400 yesterday just to throw a cheap glass on a new truck gun. Geez, it's only 400 bucks. Maybe some people need to move where they can afford it. Or buy food before smokes and booze. That whole personal responsibilities meme.
Where I worked the average pay was $25 an hour. A lot of those people lived week to week. Never saved, financed vacations. New car every 2 or 3 years. Plain old stupid.
I wonder if the 40% includes the number of people who are too poor to have a $400.00 emergency? You to a least be someone whose refrigerator or water heater goes out and you don't have a credit card. Homeless people and people living on government subsidies who don't have bills, cars , rent, and have medical a card probably don't have $400.00 emergencies either. Most of these people I see are more in the $10.00-20.00 emergency range. Many of them can easily panhandle that much every day.
That was my question right at the beginning of this thread, and it's a very valid one: Of the 40%, how many are TRULY needy, and how many are middle-income earners who spend on luxuries they don't need (while having nothing in the bank).
It is the height of irresponsibility to buy a $1000 iPhone or a $2000 cruise (both put on credit cards of course) when you don't have $400 in the bank for an emergency.
Where I worked the average pay was $25 an hour. A lot of those people lived week to week. Never saved, financed vacations. New car every 2 or 3 years. Plain old stupid.
Yup. I once worked for a place that paid every other Friday, via direct deposit, by 11:00 a.m. One time, the payroll came in late, and lunchtime was approaching. You would not believe the ruckus! People carrying on that they didn't have money to buy a sandwich and Coke if the direct deposit didn't come through by noon. And these were the same people with the latest electronic gadgets and leased sports cars.
I wonder if the 40% includes the number of people who are too poor to have a $400.00 emergency? You to a least be someone whose refrigerator or water heater goes out and you don't have a credit card. Homeless people and people living on government subsidies who don't have bills, cars , rent, and have medical a card probably don't have $400.00 emergencies either. Most of these people I see are more in the $10.00-20.00 emergency range. Many of them can easily panhandle that much every day.
The information about the survey participants is at the end of the Fed Reserve report.
You don't need to wonder at all.
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