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40% of Americans don’t have $400 in the bank for emergency expenses: Federal Reserve


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10 minutes ago, sblfilms said:

 

What thing did I say you said that you didn’t actually say?

 

$400 is relatively small. As per the Fed report, it’s significantly less than the average of one months rent for the lowest wage earning quartile, as an example. That for many people it is a bar that can’t eclipse is a serious problem, for which many factors exist and you can read about many of them in the Fed report.

 

That money issues weren't relevant at all. I don't think it's relevant to bring it up due to the fact that for most people, spending $400 in an emergency is something that'll give them a panic attack/anxiety, and it's distracting so people don't talk about bad pay, income inequality, high medical expenses, inflation, and lackluster upward mobility.

 

You're the only one who's having trouble following this. In fact, I'll go further: the fact that you say, "$400 is small look at the fed report," is, imo, the reason populism is on the rise. You're rolling in money from the theater business that you're out-of-touch as to what's actually small as if you forgot what being poor means, so you look at a Fed report for a comparison.

 

And one further: never cite a Fed report to tell someone how much money is small and how much isn't. If a significant amount of people can't clear that $400 bar, then nobody cares what the Fed says about that $400. It's the same strain of attitude that infests, "Hey, the economy is doing great how can you not find a job?!" without realizing how many different financial backgrounds Americans have.

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3 minutes ago, SaysWho? said:

 

That money issues weren't relevant at all. I don't think it's relevant to bring it up due to the fact that for most people, spending $400 in an emergency is something that'll give them a panic attack/anxiety, and it's distracting so people don't talk about bad pay, income inequality, high medical expenses, inflation, and lackluster upward mobility.

 

You're the only one who's having trouble following this. In fact, I'll go further: the fact that you say, "$400 is small look at the fed report," is, imo, the reason populism is on the rise. You're rolling in money from the theater business that you're out-of-touch as to what's actually small as if you forgot what being poor means, so you look at a Fed report for a comparison.

 

And one further: never cite a Fed report to tell someone how much money is small and how much isn't. If a significant amount of people can't clear that $400 bar, then nobody cares what the Fed says about that $400. It's the same strain of attitude that infests, "Hey, the economy is doing great how can you not find a job?!" without realizing how many different financial backgrounds Americans have.

 

The Fed report goes into the factors of WHY $400 is an issue. Financial mismanagement is one of those issues, you’ve mentioned others. Not sure why that bugs you so much other than your seeming insistence that acknowledging this means you don’t think there are any other issues.

 

In 2013 I made $18000 for a family of five, that was actually a pretty good year income wise for me up to that point. I know what it’s like to have little, that was my life as a child and a majority of my adult years. I also now know what it’s like to have much. None of that is, ahem, relevant to aggregate data about the reasons why $400 in the bank is not available for those 40% who don’t. And let’s be clear, the point of the article that you linked to is to specifically draw out how many people have less than that relatively small amount. It being such a small amount is precisely why it’s a problem, so stop pretending as though my calling it “relatively small” is me being out of touch. 

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53 minutes ago, sblfilms said:

 

The Fed report goes into the factors of WHY $400 is an issue. Financial mismanagement is one of those issues, you’ve mentioned others. Not sure why that bugs you so much other than your seeming insistence that acknowledging this means you don’t think there are any other issues.

 

Because you upvoted a post that says much of this is people being bad with money. When the factors range from shitty pay, student loan debt, lack of upward mobility, inability to find work, health trouble, high medical costs, and an array of problems, there's no reason to single out that reason for being much of the reason.

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10 minutes ago, SaysWho? said:

 

Because you upvoted a post that says much of this is people being bad with money. When the factors range from shitty pay, student loan debt, lack of upward mobility, inability to find work, health trouble, high medical costs, and an array of problems, there's no reason to single out that reason for being much of the reason.

A single upvote has you all pissy. I really do love you, friend :)

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4 minutes ago, sblfilms said:

A single upvote has you all pissy. I really do love you, friend :)

 

Is there a material difference between saying, "Much of this is financial bad things," and agreeing with someone who says it? Asking for a friend. 

 

:hug: I love you, too.

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