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re: When do people run out of money and start begging or rioting?
Posted on 4/4/20 at 8:37 am to UncleRuckus
Posted on 4/4/20 at 8:37 am to UncleRuckus
quote:
Stupid fricks should have money saved.
You can always tell the folks who have never been really poor. I grew up really poor. It’s one of the reasons I’m not now, that was not the way I wanted to spend the rest of my life.
That being said, there has been a paradigm shift towards immediate gratification. So my parents, who were born during the depression and grow up during the tail end of the depression and WW2 learned the value of saving and passed it on in some degree to me and my siblings.
If you want a sign of what part of the issue is, look at how most people buy a car. They want to know not how much the car costs but what kind of monthly note can I get. Or who decide a $500 car repair on an otherwise reliable and very functional car is less palatable than $20,000 or more of debt for a new car.
TLDR. Being poor is tough, the general thinking in modern society makes it tougher to escape being poor.
1
Posted on 4/4/20 at 8:38 am to WizardSleeve
my guess is most will run up credit card debt.
Posted on 4/4/20 at 8:40 am to WizardSleeve
If it gets bad enough, people will just defy the State and start working and earning in any way they can. There would likely be a mass movement towards self reliance and away from State dictates.
Posted on 4/4/20 at 8:41 am to fishfighter
quote:
To me, at times like this, we are our brothers keepers. After Katrina, I had 7 extra people living in my house for as long as 6 months. 3 of the people were friends of one of my sisters I never knew before hand.
Now I know why you built your guest house, ain’t doing that shite again!
Posted on 4/4/20 at 8:43 am to lsu13lsu
quote:that's not true; yes, some banks are still confused and they are changing things constantly, but they got billions of dollars out already in the first day of opening it.
It is about to get interesting. The government is slow to get this money out to individuals and it doesn’t seem banks/truly small businesses know how to do the SBA loans.
Posted on 4/4/20 at 8:43 am to Lsupimp
quote:
If it gets bad enough, people will just defy the State and start working and earning in any way they can. There would likely be a mass movement towards self reliance and away from State dictates.
I think most will stay at home. I would imagine most service industry workers will take home more money under the increased unemployment stimulus compared to their job. Got 4 months of that at this point
Posted on 4/4/20 at 8:43 am to WizardSleeve
quote:
With so many people not bringing in any income, no stimulus yet, and savings being so low, when will large numbers of folks run out of money and start taking alternative measures to survive? I'm surprised it hasn't started happening already.
There are plenty of people that never worked and have no income and the Gov’t been taking care of them for decades.
The other people that scenario is new to them, well they are the rioting type.
Unemployment checks, food stamps, bill deferral.
Posted on 4/4/20 at 8:45 am to UncleRuckus
quote:
Stupid fricks should have money saved.
This is so absurd. No one makes financial decisions based on a chance that the governments will make it impossible for them to make a living.
Also, we save a lot, and it mostly goes into retirement accounts we can't touch (and now don't want to even with a penalty waiver) and into real estate, with tenants.
We could very well run out of cash soon, dick.
Posted on 4/4/20 at 8:45 am to UncleRuckus
Look at the down votes Jesus you people he is right you know now we know how Latoya got elected
Posted on 4/4/20 at 8:52 am to mdomingue
I grew up poor and I’m not rich now. People spend money on stupid, unnecessary shite instead of saving money.
Posted on 4/4/20 at 8:55 am to fishfighter
quote:
3 of the people were friends of one of my sisters I never knew before hand.
Did you get any? I saw that movie once.
Posted on 4/4/20 at 8:58 am to Hulkklogan
quote:what? Without including state unemployment, that's 600/week for four months.
the unemployment money and stimulus money has bought us a month for most people,maybe 2 if people stretch it. But that's about it.
This post was edited on 4/4/20 at 8:59 am
Posted on 4/4/20 at 9:02 am to UncleRuckus
quote:
I grew up poor and I’m not rich now. People spend money on stupid, unnecessary shite instead of saving money.
That is true and why the numbers are so high but I remember struggling to save anything when I was in college, married with two kids and working full time. And things seem relatively more expensive no than in the 1980s.
So my contention is some of that number is legitimately struggling to save anything. Most have never been taught how to handle money or have a thought for tomorrow.
Posted on 4/4/20 at 9:06 am to WizardSleeve
All I know is I live in an area where most don’t even think about locking our doors. In the past week, we have multiple people on cameras breaking in to cars and even a stolen F-150.
Posted on 4/4/20 at 9:06 am to WizardSleeve
quote:
About 70% of Americans have less than $1000 in savings (data from 2019).
Proof that our education system has failed the public.
Homec was destroyed because feminists got their panties in a wad and shop class was destroyed because some kids got hurt and hover parents couldn’t handle it
Trade schools were destroyed because the boomers took a giant shite on blue collar workers.
So there’s an entire generation that doesn’t know how to cook or do basic household chores or basic mechanical and electrical knowledge or basic planning and economics.
It’s ridiculous. We need to overhaul the education system.
High schools in America went from being a true learning system to a college preparatory system which is finally rearing it’s ugly head.
Combine all of that with our throw away and hire someone to do it culture and you get the mess we’re in
This post was edited on 4/4/20 at 9:07 am
Posted on 4/4/20 at 9:07 am to castorinho
quote:
what? Without including state unemployment, that's 600/week for four months.
They didn't bother to read the details
Posted on 4/4/20 at 9:08 am to castorinho
There's a whole lot of people that won't get unemployment. Think of all of the essential employees making minimum wage or just above it, the stay at home parents whose SO lost their job and it meant going from 100k/yr to 40k/yr for a family of 4, caretakers, etc.
Posted on 4/4/20 at 9:08 am to WizardSleeve
Hopefully the riots start soon after these shutdown orders are extended again in May.
Posted on 4/4/20 at 9:12 am to Nephropidae
quote:
that's not true; yes, some banks are still confused and they are changing things constantly, but they got billions of dollars out already in the first day of opening it.
That was BoA reporting $6b in applications submitted. Given that it’s BoA and the max $ on an application is $10M (which is perfectly reasonable for a business approaching the 500 person threshold) that’s only 600 applications.
Posted on 4/4/20 at 9:14 am to MusclesofBrussels
Not saying I will not get rough in the future, but the government has basically told everyone they do not have to pay rent or utilities for months. This is a huge percentage of a poor persons household expenses. I would venture to say with unemployment and other benefits many poor households are better off today than 30 days ago. Why would the riot?
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