The situation is so bad that Morgan Stanley (MS) says the middle class is "eroding." Too many people have high debt burdens.
>Inequality has become a big issue on the presidential campaign trail. But Morgan Stanley also sees it playing out in the business world. The middle income consumer is disappearing. Retailers must respond by catering to the high and low end.
>In Europe, the amount of debt people have increases as their income rises. The poor don't carry a huge debt load, the researchers found.
>About 1 in 5 American families who make $41,200 or less have what's considered a hefty debt burden -- defined as more than 40% debt-to-income load.
Watch the video inside.
http://money.cnn.com/2015/12/01/news/economy/america-poor-in-debt/
How do we turn this around?
>That video
>.......
I just sit left with so many questions about everything.
Explain yourself America.
All of the damage is already done, and a lot of it is because of a Jewish system that convinced the same dumb baby boomers and Gen X parents to tell their kids to "automatically go to college for whatever you want and take out a fuckload of debt and predatory loans".
People go for the low-hanging fruit, so they think if they just get their psychology degree or English degree or whatever other bullshit that leads to an oversaturated and low-paying (and sometimes non-existent) market, they'll be "making something of themselves."
Then they end up like my college English teacher was, in her late 20's with her masters in English miserable as hell trying to become some star novelist to escape the life of having a ball and chain permanently attached to her foot.
They also end up like my psych teacher was, nearly 50 and hurrahing that she just paid off the last of her loans for her masters.
You can say these problems will change when people consider the opportunity cost of college based on placement rate, job demand, how much you have to pay (especially in comparison to all of the "special interest groups" getting free rides or far more grants/scholarships), but none of that will negate how much damage has already been done.
For these reasons, the West will either continue to see a future generation of slaves who don't own fuck all, who barely pay their rent, who drive shitbox cars, a slave caste, and a master class of financiers who do fuck all and own everything.
The plebs of the past had revolutions with half of the privations. It seems now more than ever, people have -- as Orwell or Huxley said, I can't remember -- "come to love their slavery."
tfw you do your friend's parents taxes and they only have 5k in a savings account. literally working middle class jobs for the past 25 years and have nothing to show for it besides cars and a house.
>>67909267
Better than most people.
you're household debt to gdp ratio is much higher than ours.
how do we fix the Norwegian debt problem?
>>67909048
Pretty much this. That's largely why birth rates are dropping and people are just up and opting out, going where they can be free of all the shit.
>>67909048
>>The plebs of the past had revolutions with half of the privations. It seems now more than ever, people have -- as Orwell or Huxley said, I can't remember -- "come to love their slavery."
They chose it, though. You can argue that they got bad advice from the previous generation, but they still, as legal adults, voluntarily assumed every dollar of debt. They chose whether to borrow for college, whether to take a mortgage on a house, whether to get a seven-year (!) car loan.
Protecting people from their own stupidity is an impossible task, make it foolproof and they'll build a better fool. The problem is that in the US it's regarded as socially acceptable to be in a lot of debt and have scanty or no savings. Compare that to, say, east Asia, where the expectation is that you have savings and tighten your belt when times get tough, instead of taking on debt to maintain your consumption.
The indebted part of the US lower and middle class dug their own graves, and the only thing to be done is to let them lie in them, and hope they teach the next generation not to repeat their mistakes.
People will support capitalism until it kills them. If there really is no better system, as they like to argue, then humanity's fate is to go extinct by its own hand.
>>67909494
We can pay our debts without problems. That's the difference. Our margin of safety is ridiculous. No one question why we're doing so well when oil is dancing between $20 - 40.
>>67908367
It'd be very easy to turn around if wages were allowed to inflate like they are designed to do in our system. Poor people with heavy debt loads wages inflate allowing them to pay off old debts with inflated dollars refresh their credit and start the credit debt slave process over on a new slate.
>>67909689
I would have zero problem with us adopting a Scandinavian style welfare system.
I do okay for myself as I do not have a wife or kids and no dependents, not even a pet, and I budget wisely and I've accrued enough dough to be completely debt free and I also pay taxes.
As a taxpayer, I was always fine with my money going towards supporting poor people and crazy people and lazy poor people who are just bucking the system so long as they stayed poor, stayed crazy, or stayed lazy and poor and bucking the system.
The thing that bothered the fuck out of me was the thought that these people could improve their situations and rise above it with taxpayer money. Look, I'm fine to give you my hard-earned money on the condition that you fucking stay in your shit position in life, prosperity is for those who go out and earn that shit. Take my money and then eat my shit.
Now that I'm older and wiser, shit like this just makes me sad. It makes me so fucking sad. I sincerely wish I could pitch into a system that genuinely HELPS people maintain their households and raise their kids without having to worry about paying for pre school and day care and doctor visits and shit like that. I would like to see people rise above and if I'm able to help them, then I will and proudly so.
I've done a complete about-face on my stance on taxes, from take my money and eat my shit by staying in your shit position in life, to actually WANTING my money to be used to HELP these fucking people out.
I want to MAGA, but I don't think our system currently is right for doing that for people like in OP's video.
>be working class American
>have a reliable Toyota Corolla and a 5 year old TV that works fine
>but that new Mustang and 65" curved 4K TV look so darn great
>Eh, I've saved up a bit, I have the right to treat myself sometimes, I'll just put down a downpayment and pay the rest in installments
>...
>Why can't I get ahead?
>>67908367
Stop buying shit you don't need.
>>67908367
Maybe people could stop buying dumb shit they dont need?
>>67908367
>How do we turn this around?
Budgeting 101:
1. After taxes you have a set income.
2. Based on this income, write out a monthly budget, keeping each expense within a certain percentage range in relation to your overall income.
3. Spend only what you have allocated for on your budget, having set aside already a savings fund specifically for emergencies, should they occur.
4. When approaching something that does not fit in your budget, you cannot afford it, so you cannot buy it. Do not borrow the money. The reason you cannot have it now is because you do not have the money now. Borrowing money now so that you can buy what you cannot currently afford leads to the inevitable eventuality of having to pay back even more than you borrowed in the first place which is ludicrous. If you cannot afford it now, it is unlikely that you will be able to afford paying back an even greater sum later on. It is possibly, but you would be stretching yourself too thin.
5. If there is a predicted expense or need that exceeds what your budget allows, allocate the resources monthly until you have saved the sum needed to take on the expense.
6. If you are unable to save because your resources are spread too thin, then make cutbacks until you can save. However, if you cannot make cutbacks, then what you want is unattainable until some change occurs in your life (new career field, promotion, etc.). Accept this reality and get on with your life.
Debt is bondage for most people. While credit does have legitimate uses, only the few and the responsible are capable of making it work to their advantage. The vast majority of people are incapable of doing that.
Why the hell should anyone use money they do not have to buy things they don't need to impress people they don't like?
>>67909624
>They chose it, though. You can argue that they got bad advice from the previous generation, but they still, as legal adults
People are born and raised believing they are special, that they can achieve their dream job if they just go after it.
You really can't blame these adults, especially when these decisions are often made at the tender age of 18 when they are still naive and barely understand much of the world outside of what has been spoonfed by them.
The media, their parents and their very schools teaches kids right from birth that they are winners capable of achieving their dream and living a comfortable life because THEY are somehow special.
Its hard to fight off a brainwashing that has been placed upon you right from the very start.
>>67910258
>>67910320
The biggest problem is student loan debt, not "buying shit you don't need", that being said a student loan is something you don't necessarily need but I digress
>>67910153
I always find it interesting that so many people believe abolishing welfare will transfer wealth to employed middle class people instead of offshore corporate accounts.
>>67910153
thing is with the culture of financial irresponsibility in America, any money spent on trying to help people just gets squandered. You can only help someone if they're willing to be helped, and most of America isn't. Give them one handout and they'll be back for more.
Look what Medicare and Social Security have become. Huge untouchable entitlements, costing more than a trillion dollars between them. Originally it was supposed to just alleviate extreme poverty for the destitute elderly. Now that it's there, you've trained a large chunk of the boomers to not save for their own retirement.
>>67909689
It's not capitalism driving this, it's bad education and investment ideas. People don't want to take the time to think about what they can and can't afford and They blindly trust people who make money by keeping them in debt. Anyone stuck in debt they can't pay off has only themselves to blame.
Banks may be full of money grubbing kikes, but they can't hide things like interest rates from the customer. You as a borrower have all the information you need to understand what you have to do and how long you have to do it to pay off a loan and if you walk into a bank and sign your name on the first loan you're offered that day without any planning, introspection, or financial counsel, you deserve exactly what you fucking get.
>>67910258
>Stop buying shit you don't need.
Yeah, stop buying education AMERICA.
Lets be a third world society like Argentiastan
>>67909048
I think vidya and internetz is the only reason people haven't already lost it.
The demographic hitting their 30's is shitting themselves though, nothing is stable and family vales are fucked. I think they are going to push us over the edge.
>>67908367
>poor in debt.
Student Loans anyone?
>>67910474
Nearly limitless credit is the reason that there is so much student loan debt. The very fact that people are capable of getting into so much debt is the reason that the education market has made no effort to effect cost controls, because they benefit from the bottomless credit. It then becomes a cycle.
1. Students can borrow fuckloads of money for school.
2. Schools like money, and since the debt-money is so freely available, there is no effort to cut costs.
3. School becomes even more expensive as a result.
4. Students have to borrow even more money to pay for school.
5. Schools are given even less of an incentive to cut costs because of the nearly endless inflow of cash.
6. Students are forced to borrow even more money...
I could go on and on, but you get the point, I'm sure. The fact is that not everyone can go to college. Even under many European systems, it is STILL A MERITOCRACY. NOT EVERYONE GETS FREE SCHOOLING. There are ONLY SO MANY FUNDED SPOTS, and if you do not qualify, you are out of luck.
>22
>nursing degree
>no debts
>$5,000 in bank
wew
Sucks for those niggers.
>>67908367
>America's poor are still heavily in debt
dont have money, dont spend money. if youre in debt its your own damn fault. blame whoever you want for your failure, it wont change your stupid demeanor
Doesn't it make sense that a large group of people concentrated in the center of a spectrum would drift to either end as an economy changes?
>>67910328
Pretty much this. 22, shit job, apartment, old car, and a kid. Credit score is 750, one card, only use it for gas until I reach 10% total utilization, paid in full at the end of the month. Total liquid assets are 12k, with 7k in precious metals and 8k in guns. Save your shit, and live below your means
>>67908367
It's been like this in the US since 2008.
This is the REAL reason why Trump is so fucking popular. He's actually going to try to do something about this, with the wall building and bringing business back to the US, and tax reform.
This. This is why America needs Trump.
>mfw net worth of -$108,000.
Should I just kill myself friends? Most of it is on a private loan my parents told me to take out at 18 to pay for college, which they also told me to do.
>mfw rich family decides not to help you at all after college wasn't the correct choice
>mfw they are the ones that pushed me into it by constantly saying my whole life that its the best thing to do
>mfw no way to deal with this debt and not even close to enough skills to pay it down while also having food
I'll probably just keep barely making ends meet thanks to contributions of friends, but once nobody wants to deal with a debt slave anymore I'm basically set to lay down in a ditch somewhere. If I had the chance to never put this debt on myself and instead just work 50+ hour weeks I would have chosen the work.
By the way, have fun when the economy collapses because my situation is the norm, not the exception. The media and government skew ever statistic possible to try and paint a better picture, but we are all failing overall. Older people, you have to help us out or we are going to literally bring the entire country down with us.
>be NEET
>negligible income
>0 debt
>wage/debt slaves telling me to get a job
>mein face when
>>67910153
>, I'm fine to give you my hard-earned money on the condition that you fucking stay in your shit position in life, prosperity is for those who go out and earn that shit. Take my money and then eat my shit.
Dewd, what?
>>67910474
>The biggest problem is student loan debt,
Are you certain? I would have guessed medical debt.
>>67908367
This is why we need more immigration.
>>67911872
Look at people on welfare and food stamps and NEETbux. Are they living the high life?
I'm happy to throw some your way to help you keep living your shit life, but I worked to get where I am today and if you're not willing to work, then you get to keep living your shit life.
Take my money? Live a shit life
>>67908367
>How do we turn this around?
Stop giving out credit cards to everyone. Can't spend money you don't have.
>>67912153
>browsing dank memes all day long
>living a shit life
Pick one.
>>67911737
>Should I just kill myself friends?
No.
>Most of it is on a private loan my parents told me to take out at 18 to pay for college
I am not going to lie to you, and I am not being a bully here. I just believe in being honest.
Your parents are fucking morons. I am not calling you one, however. I mean, shit, you were only 18.
>>mfw rich family decides not to help you at all after college wasn't the correct choice
Yeah, your parents are fucking assholes.
True, parents don't own their children college, or anything for that matter, when the child turns 18, but that really is a technicality. If a child has been good, has applied themselves in school, and desires to go to college, the parents have a moral duty to help the kid out, even if they only pay in part.
>>mfw they are the ones that pushed me into it by constantly saying my whole life that its the best thing to do
That is the problem with the boomer generation, they actually were able to achieve their dreams because opportunities abounded, things were cheap, and jobs were everywhere. Those after the boomers don't have such luxuries.
>If I had the chance to never put this debt on myself and instead just work 50+ hour weeks I would have chosen the work.
What field did you pursue?
>The media and government skew ever statistic possible to try and paint a better picture, but we are all failing overall.
The government backs many of the loans which the schools receive. They are part of one of the game.
>>67911698
>with the wall building and bringing business back to the US
Kicking out Mexicans is smoke and mirrors. Low-wage workers will get replaced with machines instead of immigrants. There's a restaurant near me that already has little tablets at every booth for paying your bill, so the server doesn't have to come pick it up. Next step is obviously to have you order your food from the thing too, so that you don't need servers to come and take orders. Some company already made some headlines back in 2014 when they built a completely automated burger making machine. Their literature specifically said it was meant to replace fast-food fry cooks.
Same with the row about H1B visas. If Trump builds his wall and bans bringing in foreign workers, you think companies will just decide "Gee, maybe we'll just pay Americans a lot more money to do that work now". Like hell, they'll just leave the Indians in India and hire some Indian outsourcing provider. Pretty much all of IT can be done remotely, and even network admins and such that thought they were secure are getting automated out of their jobs.
The big lie that Sanders, Trump, and Hillary are all telling is that they can make it stop.
>>67910328
Too perfect of a scenario.
Not to mention you need massive amounts of self control, when people are nonstop bombarded by ads of the new hot trendy expensive phone or whatever else have you people naturally feel a need to follow that trend even if they lack the funds to be able to properly afford it.
This plan works for those who are socially isolated but if you are social and you have friends who are better off poor folks in fear of being felt left out of the group will naturally follow the trend of their peers.
>>67908367
It starts with invigorating our education system.
Schools forces highschool kids to take certain classes to graduate. None of those include...
>Financial Management
>Understanding of business small and large
>How to properly apply for job opportunities
>Any basic Trade Skills
Its bullshit. The youth get shoved into public schools that are basically just prisons to hold for 6hrs a day.
Then when a bunch of drug addicted, mentally retarded, pieces of shit pop out the other end.. who have no ability to manage their own personal lives end up living at their parents homes until there 27 people go 'ERHMAHGERD' what happened?!?
Big part of it is the absolutely garbage modern parenting to.
>>67912521
It's not about kicking the illegals out. We all know that isn't really feasible. It's about actually BUILDING THE WALL. Infrastructure. That's jobs right there.
And take a look around... Most parts of the US, the infrastructure isn't doing so great. Lotta roads need fixing, etc.
That's the kind of thing I would expect Trump to address, which would actually help.
On the other hand, you do have a point about technology. The whole point of technology is to free us up from having to actually do work ourselves, but capitalism as it's currently done doesn't take that into account. That's why some of those Scandanavian countries are tinkering with the idea of a "basic income" where everyone just gets enough money to live on, and everything after that is capitalism.
>>67912521
>you can't make it stop because I say so
>>67912982
>kicking the illegals out isn't feasible
>>67909494
>They dont get more bang for their buck on social programs compared to us
>>67908367
I used to think Americans were in debt for overspending. But now I think our system is rigged so everything is artificially expensive, including necessities like food, rent, insurance, utilities. It costs a fortune to eke out a minimal existence here. So people are literally forced to take on debt. Not helpful to criticize them for overspending on toys, it's blaming the victim!
>>67910882
Don't forget drugs + alcohol
>>67913101
It isn't.
>The number of illegal immigrants in the United States may be as high as 20 million people, almost double the official estimates of 11.1 million of the March 2005 Current Population Survey and 11.5 million–12 million by the Pew Hispanic Center (Fact Sheet, April 5, 2006).
Source: http://www.cairco.org/issues/how-many-illegal-aliens-reside-united-states
And those figures are 10 years old. How the fuck are you going to round up 20 million people?
It's not gonna happen.
>>67909624
That's like building a rat maze and blaming the rat when it runs it's course
>>67911754
This, I am a poorfag, no debt didn't fall for the college jew. FeelsGood.
>>67908367
>Since wages haven't risen much for the lower class, they have turned to debt to try to buy the electronics, cars and other items they think they need to be like everyone else.
Gee I wonder why.
>>67912982
>It's about actually BUILDING THE WALL. Infrastructure. That's jobs right there.
Infrastructure spending only makes the nation and people better off if the infrastructure is useful. Roads are, like you said. The wall isn't, it just sits there. Same reason hiring unemployed people to dig ditches and fill them in again doesn't accomplish anything, because as soon as you stop paying the people to do it, you're back to where you started from. The infrastructure you build has to be something you need. Look at how China is slumping pretty badly now that they've stopped building cities full of empty apartment blocks in places where nobody wants to live.
>>67913045
Go ahead, fight basic economics. Cuba tried it, look where it got them.
>>67913266
>It costs a fortune to eke out a minimal existence here. So people are literally forced to take on debt.
that depends on your idea of a minimal existence. Friend of mine lives in Chicago on something like $30k. Has a small apartment (no roommates, even!), and doesn't spend piles of money on eating out, partying, the latest phone, etc. America's problem is that they think that a flatscreen TV is an essential item.
>>67913481
I'd assert that we should expect people to be smarter than rats, even without the benefit of years of higher education.
>>67912460
>and desires to go to college, the parents have a moral duty to help the kid out, even if they only pay in part.
My kids are getting bupkiss if they want to get into women's studies or english lit.
>>67913460
We already did so before, with less technology.
>>67912717
It gets even WORSE when people take out loans or spend what they have in savings over an income increase they HOPE will be forthcoming in the near future.
>Chuck works at a tech firm, and makes a reasonable sum. He also has a wife and two kids. The wife stays home to take care of the newborn and the toddler since childcare would cost them more than any salary his wife could bring in.
>Chuck and his family are getting by, and have a bit saved for a down payment on a house, but their expenses are just a little too high right now to be able to afford a mortgage while having enough money left over to live comfortably.
>However, Gary, the assistant vice president of Chuck's company has recently been dropping LOTS of hints that Chuck will be getting a promotion soon to the next level.
>Flushed with confidence and certitude of this "inevitable" promotion, Chuck decides to take out a mortgage from a bank and get the house he and his wife have always wanted, even though they know they will not be able to live with reasonably.
>Chuck and his family do great for some while, as they did not use ALL of their saved money for the down payment. However, months come and go, and that "certain" promotion has not happened. Chuck speaks to Gary about the promotion, and Gary informs Chuck that due to "departmental restructuring" that was enacted to save the company money, the position he hoped to elevate Chuck to no longer exists.
>Now Chuck is completely fucked. That little bit of savings slowly runs out as the kids need little extra expenses taken care of here and there. Although Chuck can make his payments for now, he is finding more and more difficult to make them because everything keeps getting more expensive, all the while his pay is stagnant.
>Now Chuck is $350,000 in debt, has no savings, barely can keep the lights on and food on the table as he takes care of his family paycheck to paycheck.
ONE unexpected expense and Chuck will be foreclosed on.
It's not that hard to avoid debt. People are just brainwashed by consumer culture.
We need better education on financial decision making tbqh.
>>67913910
Perhaps, but would you expect 18-24 year olds to behold the whole of human society and understand their exact place within it as well as the course of the mechanisms operating on them at once?
We're smarter than rats, but we still operate within the confines of our environments, better or worse
>>67914040
the mistake Chuck made was buying the house without the promotion in hand, or the savings to provide a buffer if his income dropped. Chuck chose to live beyond his means and buy something he couldn't really afford, but thinks he should have because he really wanted it. Chuck should have waited to see if he got the promotion, and if he did, saved some more money. Or Chuck could have chosen to buy a smaller house.
Chuck deserves what he got.
>>67908367
Looks like a chubby Rubio
>>67914040
The ultimate irony?
When that fucking dumbass finally gets forclosed on, he'll blame everybody but himself. "Damn those bankers, giving me that unfair lone!" "damn by evil boss, not giving me a raise!" "damn this evil country that doesn't give me free money!" "damn the power company for shutting off my power when I'm ONLY 2 months behind on payments" etc etc
never will he think to blame himself for getting a house he could never afford
>>67914288
People think short term only. Even worse, most folks don't realize that not only do they have to pay back what they borrow, but they must pay back even more than they borrowed.
A class in something like "Financial Literacy" should be required teaching starting in the freshman year of high school. It should be a class that spans freshman year all the way until graduation. Kids should be forced to learn the basics of personal responsibility, budgeting, spending restraint, thriftiness, couponing, and credit.
Anybody can imagine a future like that? Parents no longer want to spend any money on their kids, so instead the government allows kids to pay for themselves. From age 0 until you get a job, you're just building up debt for clothes, food, schooling, healthcare, etc, which will take a lifetime to repay.
>>67914776
>never will he think to blame himself for getting a house he could never afford
Nope, so hell bent are people on achieving the "American Dream," that they will throw away any chance of eventually achieving the "American Dream" in due time just so that they can "achieve" it a little sooner today. Their impulsiveness is their undoing.
Self-control is a lost art. The moment you exercise any today, your friends look at you like you are crazy.
>>67915124
This is also partly why governments and banks are so eager to transition to a cashless society. They WANT you in debt and locked into a system that forces you to line their pockets without an escape rout. With a completely cashless society, the banks can level negative interest rates against you as a means of nibbling on the "money" in your bank accounts. Then, since you have no means of withdrawing and stashing this money in the form of cash, you are locked into their little thievery scheme. Not only that, but since everything is digital, they can track down even the smallest transaction with precision. You will no longer be able to hide ANYTHING.
I want to get an English degree and teach ESL to Koreans in America and maybe abroad. Is this degenerate? I won't have any debt because my parents are gonna put me through school and I don't live beyond my means and have never owned a credit card. My bf also has spectacular credit
No american is born with the desire to achieve the 'american dream' or go to college or whatever. Someone sells that ideology to them as they grow up. Also, it's not like people can shit out material necessities, they are born into a world where they have to enter an economic hierarchy in order to survive. It's not quite fair to blame those who are at an inherent disadvantage because of how ownership and wealth is already distributed.
>>67915560
Damn.
They better have robowaifus by then if they don't want 4chan to go postal.
>>67915773
Rats
>>67913648
>poorfag
You still wasted your life, not getting financially rich off of something you love.
>>67915601
Not degenerate since you're female. If it doesn't work out you marry that BF and get ready to pop out babies.
>>67916088
It would be easier to just marry a successful man than going through with this teach English to Koreans because she likes their music bullshit.
>>67908367
Surely raising the minimum wage will do it!
>>67916339
actually don't care for their music I like metal, just like the culture
>>67915601
Pursuing a dream is not "degenerate."
The degenerate thing is failing to do a cost-benefits analysis of your situation so that you can determine whether or not you can accomplish this economically with as little debt as possible. Ask yourself several questions:
1. How much do I have saved to pay for school right now?
2. What are my current assets, liabilities, and income, and how do they measure up to achieving my goals?
3. What third party sources of monetary support can I expect to come my way (parents helping you, grandma sending you a check, scholarships, etc.)?
4. Compared to what salary I can expect to make in the field I hope to enter, is the amount I am spending on my education reasonable (spending $100,000 only to be payed $25000 a year later is fucking stupid).
It goes further than this, but you are beginning to understand my meaning. Now, even if the salary you hope to expect is low in proportion to what you have to spend on your education, you may still not want to give up on your dreams. If you will be happy with your desired field, it is STILL worth pursuing even though it may seem like a financial waste... HOWEVER, you should only proceed on this course if you will have NO DEBT at the end of your college education.
So, as you said:
>I won't have any debt because my parents are gonna put me through school
Then go for it. If you have a means of doing what you want to do without going into debt, it is not a complete waste. Remember, some of the greatest regrets of your life in your later years will be remembering the risks, chances, and opportunities that you DIDN'T TAKE.
Go for it.
>>67916339
You gotta let them females try to pursue some of their dreams, and fail, before they can become obedient wives. Without having tried things out a little they get disgruntled and always think "what if?". A bit of failure is needed to turn them into healthy broodmares for a stronger next generation.
>>67908367
It was an artificial middle class to begin with.Poor people with bank loans and delusion of postions beyond their station.
>>67916580
thank you. I have 30 credits so far but we moved to Arizona from nj. just waiting to live here for a year so I don't pay out of state fees
>>67916536
Whatever blows your hair back, if I were an attractive female, I'd just marry myself off to the highest beta provider bidder and then do whatever I wanted until he died and then move on to another one.
>>67916598
Most people, no matter how much they fuck shit up in their lives, still vastly overestimate their self-worth. Women especially.
I don't know, I think she should just play the clam card and get some asshole to just pay to take her on a trip to Korea than wasting time in school.
>>67916759
>I have 30 credits so far but we moved to Arizona from nj.
You will have your degree in NO TIME. Trust me, that times flies like you would not believe.
>just waiting to live here for a year so I don't pay out of state fees
That is very reasonable.
Is anyone here scared of being in debt? I'm in community college, getting ready to transfer to a 4 year. My parents have been footing the bill because it's only a couple hundred every few months but that's gonna go the fuck away this fall. I'm probably gonna have to take out student loans and the thought of being $20,000 in the hole right after college terrifies and infuriates me. I think I'll spend another year or two at home after graduation just trying to pay that off.
>>67916891
>I don't know, I think she should just play the clam card and get some asshole to just pay to take her on a trip to Korea than wasting time in school.
I agree too, but she will not know that until she tries and fails.
>>67917004
what's your major? they have internship style entry jobs you can do while you go to school. such as teachers aid or collecting samples in the field of you are biology. it looks good also when you finish too. try to live with your parents as long as you can trust me or go to a uni thats in a cheap state such as Arizona or some hicky town.. you will save money, use coupons and don't buy nigger shit.
>>67909048
Based leaf
>>67917338
>>67916891
I'm too proud to be with some asshole that does not care about me, my parents raised me better then that
>>67912268
Credits Cards are a NECESSITY in the US.
More like the US needs more financial responsibility
>>67917004
>Is anyone here scared of being in debt?
It isn't a matter of fear, although fear is reasonable when faced with the possibility of going into debt.
It is a matter of a costs-benefits analysis because debt, as I noted, is not ALWAYS bad. If you are one of the handful of people that can use it responsibly, then it might be reasonable to borrow.
See here for some guidelines on how to do a costs-benefits analysis: >>67916580
>I'm probably gonna have to take out student loans and the thought of being $20,000 in the hole right after college terrifies and infuriates me.
$20,000 is a lot of money. However, it may be reasonable to take this out of the benefits outweigh the costs. If you are going to become an engineer, then take out the loan, but if you are going to study "Transabled Gender-Queer Music Theory," then you should probably rethink your life goals.
Weigh the costs in light of the benefits. For instance, when looking at third party sources of income, your parents letting you live at home rent-free falls into this category. Just calculate all the factors and variables, but BE THOROUGH AND DO NOT DECEIVE YOURSELF WITH WISHFUL THINKING...
>Sure this field only normally pays $32000 starting, but I am going to be the guy that lands that rare $70,000 a year position!
You won't even land the $32,000. You'll probably make $25,000. Be realistic and you will be fine.
As for your fear, it is reasonable. In fact, I consider you to be all the wiser for having it, because you only have fear in this situation if you have a reasonable understanding of the risks involved. As for being infuriated? Well, that's life. The fact that you had parents helping you through community college means they are fucking above-average.
You hit the fucking jackpot when it comes to parents, bro. Be thankful to them.
>>67917989
You can get a mortgage without credit. You don't know shit about credit.
>Credits Cards are a NECESSITY in the US.
This is the dumbest fucking thing I have ever heard.
>>67917539
None of us really care about any of you, dear. If you didn't have pussies, what would you have to keep us interested in you?
I'm waiting for the response that will either never come or be not true.
>>67918427
Do you buy plane tickets with pennies?
>>67911466
>8k in guns
lel, Murika!
>>67913977
It's 2016!
>>67917537
Da Jooooos! History repeats in so many ways.
>no debt, never took a loan.
>0 credit rating
>100's of thousands in savings and investments, some probably in bad loans but should be able to take a loss on some of that.
>>67908367
I sometimes wonder where all that money Americans make go to, they should be poor or maybe they all want the latest mercedes benz unless they are considered poor.
>>67909032
>Explain yourself America.
>over weight
>single mother of 4
>probably pays for stupid shit like smart phones and cable tv
People forgot how to live within there means
>>67908367
this is why you don't use credit cards. a jewey way to get you in debt fast and keep you there
>>67918560
>Do you buy plane tickets with pennies?
Right, because banks do not issue check cards or debit cards. Nope, these things do not exist at all. Nope.
>But you can only use CREDIT CARDS to buy plane tickets.
Hmm, then something must have been wrong with my non-credit bank cards each time I bought a plane ticket with them..... Maybe the computers were broken?
Or maybe you don't know shit.
grow the fuck up and stop living beyond means
holy shit that's a fire emblem animation for the 4chan logo.
seriously though, stop living beyond your means. this is my situation:
>$840/mo apartment
>roommate: split everything in half
>$9.21/hr job
>college part time
>work 31+ hrs a week
>$981 after taxes
>$420 every month for rent
>have car
>roughly $560 after taxes every month
i'm not taking full time classes because i can't afford it. i'm not buying the latest video game because i can't afford it. i don't go to bars or drink alcohol or any of that shit BECAUSE I CANNOT AFFORD IT.
you retards who are in debt need to be smarter or kill yourselves. pick one.
>>67919289
Fuck yeah, budgeting is EVERYTHING.
Tell your money where to go instead of wondering where it went.
>>67918530
don't be so jaded (: in that logic why should a girl care about you if not only to get money and security
>>67909501
I'm opting out because of the cost of living. Just makes no sense for me to spawn.
>>67919521
Men are only capable of being attracted to a female if she's attractive. If she's an unfuckable hag, but a billionaire, she's in deep shit.
If a man is full-blown hideous, but a billionaire, pussy will flow like water.
Women are capable of being attracted to other things besides our physical appearance, they can be attracted to wit, charm, humor, intelligence, wealth, financial security, ect.
>>67919727
I've seen some uglies with some attractive men, but your right it's more the opposite.. I know most of my friends date people even though they are in the shitter financially, it's all about love imo
>>67911754
>no one expects anything of you, and you're constantly indebted to someone for literally everything you do
I don't understand NEETS.
>>67912460
>moral duty to help the kid out
fuck you. adult wants to go to college? do so. do it on your own terms retard. you are a fucking adult LEGALLY. start acting like it. read the fine print. understand what you're going in for and what you want when you get out. fucks sake you goddamn retards
>>67919992
how do they maintain their neet lifestyle? I tried to do that and my parents said either go to college or get a job and they constantly threatened to kick me out, is it the parental enablers? or the government giving free shit
>>67919961
>I've seen some uglies with some attractive men
Except they're not that ugly if men are fucking them, now are they? Add in all the weird, fetishy shit men are capably of feeling, and you've got, as a woman, pretty much a 100% chance of being boned by a man no matter how weird/ugly/fat you are. The only caveat is it's probably not a man you want to be boning you, but boo fucking hoo.
>I know most of my friends date people even though they are in the shitter financially
>Men still wanna fuck when they're broke
And this is what, news at 11? What are they dating women for? To get to know them and keep a safe, respectable distance?
No, society has deemed this is the course of action to take in order to fuck them instead doing what our natural instinct is, which is just fuck them and leave without a word being said.
>>67909267
That's ... pathetic.
I'm 27 with 60k in my savings account (not including 401k). I make sacrifices, but I save.
>>67910381
Who the flying fucking fuck gets a 7 year car loan. What the fuck. Just get a used car. Be happy that it's cheaper than fuck to drive and fix and save up for a new car.
>>67920223
It's literal enabling in every case. There's always someone babying the NEET. Always.
>>67920230
you underestimate all those people who hold each other down because they love each other, men and women alike even when the other is a parasite ect
>>67918568
Some firearms hold their value pretty well, mapleleaf.
>>67908367
>poorfags make bad financial decisions
>poorfags still making bad financial decisions
wooooooooooooooooooow
>>67920026
>fuck you. adult wants to go to college?
Learn to read.
>True, parents don't owe their children college, or anything for that matter, when the child turns 18
Reeeaaaaaaaaaaaaaaad.
Even in regard to what I wrote above, the cultural tradition, at least for some time now, has been that parents have a moral duty to help their children through college. That is, you know, WHY THERE ARE ENTIRE SECTIONS OF TAX LAW designed to aid parents in setting up accounts for their children's future college education.
Or will you argue that there is no tradition as such, and that these tax law provisions don't really exist?
Are you incapable of discerning the tension between to statements and then coming to a reasonable conclusion, or do you always just jump to assuming the worst so that you can grandstand on your soapbox like some self-righteous prick?
>>67909048
It's all good until there is a food shortage...
>tfw 24, have 30k+ in savings and a mortgage I'm scheduled to pay off in 8 years.
Feels good to have a useful skill.
>>67908367
Bullshit. Biggest problem is that we are still opressing brown ppl.
>>67912028
Medical debt doesn't fuck with student loans on average. Medical debt comes with either shit luck or old age with crap insurance (well, no old people get good insurance. Why do we have insurance companies again?)
>>67910189
nice flag bro
On topic: Americans buy things they can't afford.
>>67913045
They can't make it stop. You just can't win when it comes to rich people's money. Limiting outsourcing isn't going to magically make employers pay more for Americans. They're too accustomed to the extra money from hiring illegals. They'are just going to overwork a small amount of Americans, pumping out shit products and services.
>>67921950
So we'll shoot 'em
>>67915601
>never owned a credit card
Start now. Just pay it off when they bill you. Otherwise you will be FUCKED for big purchases.
>>67914832
Capitalism loves dumb consumers. I feel like this proposition would be frowned upon.
>>67920478
in some (not all) Euro countries you can NEET off the government. But you're right, in the US it's 95%+ off the parents.
But hey, it's the parents' choice at least. They could be hardasses and kick the kid out if they wanted to, like >>67920223 apparently had. It's only a problem when it's public money.
I am convinced you need to be stupid to go in debt.
It's so easy to live on minimal money you need to be a bumbling retard to let your spending get so out of hand it ruins you.
>>67908367
>http://money.cnn.com/2015/12/01/news/economy/america-poor-in-debt/
Why the fuck do Americans borrow money when they can't afford it? People who do that here end up on tv as a freak show.
Borrowing money is idiotic.
>>67909494
People manage to pay their debts here, people in general don't borrow more than they can afford except rare cases.
