If The Economy Is So Great Why Can't Most People Miss One Paycheck?

[pismoe]

The economy is only doing well if you are in the top 10%. For everybody else, not so much.

because people do not know how to save and we live in an instant gratification society. 75 to 80 percent of the country lives paycheck to paycheck, no matter how the economy is doing.

------------------------------------- attitude is , keep spending and 'gwb' encouraged the spending by encouraging spending right after 911 . Attitude by my Parents and Grandparents and ME is be careful of what you buy because you have gotta pay for whatever you buy and always try to use cash . Plus food , we always had canned and preserved and bulk food and still do as preparation for unknown catastrophe . Nowadays , i hear that young dummies throw canned food out because of the 'best used by date' on canned food has expired .

 

[there4eyeM]

If The Economy Is So Great Why Can't Most People Miss One Paycheck?
Because American society passed from save-and-spend to spend-and-repay in just one generation. This was more than encouraged by banks, which generated great quantities of easily obtainable credit lines using cards instead of cash or checks.
The idea of spending more than one had became acceptable where it had previously been seen as reprehensible, irresponsible. A prime, almost parental example was provided by the government (elected officials), spending unheard of sums and hocking an uncertain future. Limiting tomorrow to choices made today.
So, spending as if there were no tomorrow (almost like assuring there wouldn't be one) became the order of the day. Everyone was doing it, why get left behind?
Short story long, people are now so in debt that hiccups hurt.

 

[sparky]

But the biggest one is "Money doesn't "trickle down"".

One would think 40 years proof evident enough

Provide evidence for your claim or be ignored as a liar.

You'd need to be able to digest it gramps

The voodoo ( George H W Bushs' description )economics of Ronald Reagan destroyed the middleclass in this country, and why now most Americans do not support supply side economics, and are now supportive of pre Reagan era economic tax and regulatory policies.

Trump is literally using RR's playbook....

Let me get this straight: you belong to a party who's theme is to reward failure and penalize success, and then start a topic on why we have more failure?

More we all belong to one inescapable $$$ party cloaked in the guise of choice, who play 'reverse robin hood' rewarding the rich from the mid class pockets Ray

Technological progress and innovation is the primary cause for the decrease in manufacturing jobs

If that were so, 3rd world sweat shops would cease to be the major provider of consumables Ray
~S~

 

[sparky]

If The Economy Is So Great Why Can't Most People Miss One Paycheck?
Because American society passed from save-and-spend to spend-and-repay in just one generation. This was more than encouraged by banks, which generated great quantities of easily obtainable credit lines using cards instead of cash or checks.
The idea of spending more than one had became acceptable where it had previously been seen as reprehensible, irresponsible. A prime, almost parental example was provided by the government (elected officials), spending unheard of sums and hocking an uncertain future. Limiting tomorrow to choices made today.
So, spending as if there were no tomorrow (almost like assuring there wouldn't be one) became the order of the day. Everyone was doing it, why get left behind?
Short story long, people are now so in debt that hiccups hurt.

A debt based economy >>>>
The Real Economic Scandal: Understanding the Debt-Based Economy - Permanent Culture Now

A tad hard to get one's head around at first....

~S~

 

[Ray From Cleveland]

More we all belong to one inescapable $$$ party cloaked in the guise of choice, who play 'reverse robin hood' rewarding the rich from the mid class pockets Ray

No, you don't take things from people that don't have it to take. We "offer" our money to the wealthy. We buy their tires, their gasoline, their video game systems, their computers, their televisions, and we beg them to allow us the transfer of wealth to the top.

If that were so, 3rd world sweat shops would cease to be the major provider of consumables Ray

I provided the source in case you wish to dispute.

 

[Mikeoxenormous]

The economy is only doing well if you are in the top 10%. For everybody else, not so much.

Like Bill Maher? Or Barrack Obama? Or Warren Buffet? Or Bill Gates? Or the Clintons? Or me? I am doing just fine, because I dont rely on someone else to take care of me, but have enough income of my own, not to worry about missing a paycheck. Many of my friends, who own their own businesses dont worry about missing a paycheck either. Seems that when you rely on the government to take care of you, you will be fucked every time by that government. The government isnt the answer, the government is the problem....

Did you miss the part about paycheck, or are you really that obtuse?

Most people work for a living as employees and don't own their own business. They don't rely on the government.

Like Maher said, the problem is we can't have a socioeconomic system, that is of the benefit of the few.

Which is why we will be returning to a socioeconomic system that existed between 1947-1980.

Being the successful business owner that you are, this shouldn't be an issue for you right?

I have my income coming in from Dividend paying stocks between 6 - 10% annually. I started investing back in 1987 with Home Depot and bought other stocks since then. My annual income is over $400,000 year. Everyone could be doing this, but the liberal elites dont want you to know about it, because then you would be more like them....

 

[BluesLegend]

Following the federal government's example, many people spend every last dime they earn plus borrow more and spend that, hence they live paycheck to paycheck.

 

[danielpalos]

The economy is only doing well if you are in the top 10%. For everybody else, not so much.

We're doing quite well thank you.

why claim any need for a wall?

even illegal aliens are not a problem when we are running massive federal budget surpluses.

 

[danielpalos]

The economy is only doing well if you are in the top 10%. For everybody else, not so much.

because people do not know how to save and we live in an instant gratification society. 75 to 80 percent of the country lives paycheck to paycheck, no matter how the economy is doing.

 

[danielpalos]

The economy is only doing well if you are in the top 10%. For everybody else, not so much.

It's doing great.

Some people spend well beyond their means, and save nothing. They are unprepared for emergencies.

federal employees got no raise and are now missing pay.

 

[Oddball]

If The Economy Is So Great Why Can't Most People Miss One Paycheck?
Because American society passed from save-and-spend to spend-and-repay in just one generation. This was more than encouraged by banks, which generated great quantities of easily obtainable credit lines using cards instead of cash or checks.
The idea of spending more than one had became acceptable where it had previously been seen as reprehensible, irresponsible. A prime, almost parental example was provided by the government (elected officials), spending unheard of sums and hocking an uncertain future. Limiting tomorrow to choices made today.
So, spending as if there were no tomorrow (almost like assuring there wouldn't be one) became the order of the day. Everyone was doing it, why get left behind?
Short story long, people are now so in debt that hiccups hurt.

Generally correct. There are a couple of other factors:

- Inflation of worthless fiat "money" dictates that there's no percentage in thrift and saving...I believe people understand this at a visceral subconscious level...The sticker shock of the tax bite of RMDs for IRAs underscores this fact.

- Taxes -both visible and hidden- are higher than ever...It's almost required to have two wage earners in the family to live the middle class lifestyle of the 50s-70s.

 

[Harpy Eagle]

The economy is only doing well if you are in the top 10%. For everybody else, not so much.

because people do not know how to save and we live in an instant gratification society. 75 to 80 percent of the country lives paycheck to paycheck, no matter how the economy is doing.

what's your point?

As a family we went from the second 20% to the top 20% (top 10% of income earned) in less than 5 years by working hard to improve our situation. We are nothing special and had no outside help other than the GI Bill that I earned and used to get my Masters.

I am not sure what can be done short of taking away rights and freedoms, and I could never stand for that.

 

[danielpalos]

The economy is only doing well if you are in the top 10%. For everybody else, not so much.

because people do not know how to save and we live in an instant gratification society. 75 to 80 percent of the country lives paycheck to paycheck, no matter how the economy is doing.

what's your point?

As a family we went from the second 20% to the top 20% (top 10% of income earned) in less than 5 years by working hard to improve our situation. We are nothing special and had no outside help other than the GI Bill that I earned and used to get my Masters.

I am not sure what can be done short of taking away rights and freedoms, and I could never stand for that.

someone with a master's should know that Capitalism has a natural rate of unemployment even if all potential labor market participants were required to obtain a doctorate before participating in the market for labor.

 

[Flash]

These stupid Moon Bats think Obama was a great President. How can anybody be that idiotic?

Obama increased poverty, deceased family income, really really ran up the debt, increased income disparity, increased taxes and then had eight years of dismal economic growth.

Then the dumbass Moon Bats voted for that Crooked Hillary asshole that promised more of the same.

Under Trump the economy is doing much better but depend upon the newly elected Democrat House to screw it up just like they did to Bush's economy in 2007. Bush and the Republicans had a good economy for six years despite the trillion dollar hit from 911 but it went to hell when the Democrats took over Congress in 2007.

 

[Flash]

The reason American can't get ahead is the cost of government. The cost of the combined Federal, State and Local government is 40% of the GDP. How can any American get ahead when 40% of the GDP is taken out of the productive economy and wasted by corrupt bureaucrats?

 

[Harpy Eagle]

The economy is only doing well if you are in the top 10%. For everybody else, not so much.

because people do not know how to save and we live in an instant gratification society. 75 to 80 percent of the country lives paycheck to paycheck, no matter how the economy is doing.

what's your point?

As a family we went from the second 20% to the top 20% (top 10% of income earned) in less than 5 years by working hard to improve our situation. We are nothing special and had no outside help other than the GI Bill that I earned and used to get my Masters.

I am not sure what can be done short of taking away rights and freedoms, and I could never stand for that.

someone with a master's should know that Capitalism has a natural rate of unemployment even if all potential labor market participants were required to obtain a doctorate before participating in the market for labor.

I have never denied that Capitalism had a natural rate of unemployment, of course it does that is why 4% is considered full employment.

We differ on if it is a bad thing and what should be done about it.

 

[MACAULAY]

For the most part, Federal Employees are one step above Welfare Recipients---the first pretend to work and the second doesn't even bother to pretend.

Fire all non-essential Federal employees and put them on Welfare for a few weeks---enough time for them to all find REAL jobs in this wonderful Trump Economy.

They will be better off, the country will be better of---we can import less migrant workers for one; and we can start reducing the Federal Budget. Win Win. Build the Wall.

 

[danielpalos]

The economy is only doing well if you are in the top 10%. For everybody else, not so much.

because people do not know how to save and we live in an instant gratification society. 75 to 80 percent of the country lives paycheck to paycheck, no matter how the economy is doing.

what's your point?

As a family we went from the second 20% to the top 20% (top 10% of income earned) in less than 5 years by working hard to improve our situation. We are nothing special and had no outside help other than the GI Bill that I earned and used to get my Masters.

I am not sure what can be done short of taking away rights and freedoms, and I could never stand for that.

someone with a master's should know that Capitalism has a natural rate of unemployment even if all potential labor market participants were required to obtain a doctorate before participating in the market for labor.

I have never denied that Capitalism had a natural rate of unemployment, of course it does that is why 4% is considered full employment.

We differ on if it is a bad thing and what should be done about it.

You miss the point. We have a "natural rate of unemployment for the bottom line of capitalists" not the People.

The People would prefer a natural rate of employment for the People.

 

[initforme]

Most live paycheck to paycheck because they don't make enough to save and corporate wages aren't spectacular for most. The system dictates most will have to live paycheck to paycheck.

 

[Stormy Daniels]

The economy is only doing well if you are in the top 10%. For everybody else, not so much.

The same reason Donald has gone bankrupt over and over. Reckless spending behaviors and general stupidity.