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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.
Yep. I've seen the same type of mass hysteria ensue when payroll transmissions get delayed due to 'technical difficulties' (employer OR issuing/receiving bank, or whatever). All I can remember thinking is... Why in the hell are you buying lunch, eating out every day, when you don't have enough money for it if your paycheck is delayed for even a few hours? Aren't those the people who should be packing their lunch, bringing it from home? I'm guessing if their paychecks were delayed over the weekend they'd have nothing to eat until it hopefully got resolved on Monday? Yikes.
Yep. I've seen the same type of mass hysteria ensue when payroll transmissions get delayed due to 'technical difficulties' (employer OR issuing/receiving bank, or whatever). All I can remember thinking is... Why in the hell are you buying lunch, eating out every day, when you don't have enough money for it if your paycheck is delayed for even a few hours? Aren't those the people who should be packing their lunch, bringing it from home? I'm guessing if their paychecks were delayed over the weekend they'd have nothing to eat until it hopefully got resolved on Monday? Yikes.
Sometimes when payroll is delayed people fear for the solvency of their employer. The problems are often deeper than a "glitch." Sometimes they are straightened out but often foreshadow deeper problems with the banking line of credit.
Sometimes when payroll is delayed people fear for the solvency of their employer. The problems are often deeper than a "glitch." Sometimes they are straightened out but often foreshadow deeper problems with the banking line of credit.
True, but we're talking about just getting their next meal. If people spend so much that they can't afford their next meal before their paycheck clears, yikes!
Sometimes when payroll is delayed people fear for the solvency of their employer. The problems are often deeper than a "glitch." Sometimes they are straightened out but often foreshadow deeper problems with the banking line of credit.
True....could be. But in the case I described, everyone who was in meltdown mode was complaining that they didn't have money for a sandwich. So the fact remains is that people earning thousands of dollars a week did not have $8 left half an hour before the scheduled pay time.
True, but we're talking about just getting their next meal. If people spend so much that they can't afford their next meal before their paycheck clears, yikes!
We are SO on the same page! You must be my long-lost twin.
first and most importantly, it's a complete falsehood to say we have the weakest economy in decades.
it may be true that GROWTH over some period of time you wish to claim is weaker than growth over 1 or more similar length periods in the past few decades. Perhaps you can enlighten us all and provide this info, rather than a wildly false claim.
as long as your point is it's the weakest economy, it's pointless to argue a falsehood. Now, if your point is non-partisan and ONLY "why do they spend all their disposable income?" then the immediate answer would be HEALTH CARE.
I believe I've already quoted retail growth - consumerism - was 4%, and 3% was considered good. And folks - if they ONLY made minimum wage - would need to reduce their total spending by 2%.
There's multiple indicators that we have a weak foundation under this economy. Besides the GDP, home prices are stalling b/c the lack of buyers in the market, which is due to the lack of disposable income they have to put aside. We've had 2 separate instances in the last 18 months where the yield curve inverted b/c investors lost faith in near term bonds. You have Trump pushing to reduce the Fed rate, saying we should even go negative, which is something America has never done, even to combat recessions. You've got manufacturing economy barely moving despite Trump saying that his focus was going to fix it.
Outside of a recession, we are in the weakest economy in DECADES, and it's only getting exacerbated by the concentration of money at the top of the economy.
So the fact remains is that people earning thousands of dollars a week did not have $8 left half an hour before the scheduled pay time.
So, they earned over $100 000 a year and said they cannot afford a sandwich..... The story sounds as made-up as your other stories about brand new iPhones in everyone's hands.
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.
Quote:
Originally Posted by Rachel976
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.
honestly, this makes almost no sense. So let's start with - where's the PTSD come from?
From a long term trauma that I will just state as intense mistreatment.
Quote:
Originally Posted by boneyard1962
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.
Wow. I wish I made that much..maybe it would actually make a difference.
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