The Secret Shame of Middle-Class Americans

[cronus]

http://www.theatlantic.com/magazine/arc ... me/476415/

The Secret Shame of Middle-Class Americans

Since 2013, the federal reserve board has conducted a survey to “monitor the financial and economic status of American consumers.” Most of the data in the latest survey, frankly, are less than earth-shattering: 49 percent of part-time workers would prefer to work more hours at their current wage; 29 percent of Americans expect to earn a higher income in the coming year; 43 percent of homeowners who have owned their home for at least a year believe its value has increased. But the answer to one question was astonishing. The Fed asked respondents how they would pay for a $400 emergency. The answer: 47 percent of respondents said that either they would cover the expense by borrowing or selling something, or they would not be able to come up with the $400 at all. Four hundred dollars! Who knew?

(continued)

[pErvinalia]

Yep. Much of neoliberal society's "prosperity" is built on debt.

I can't think who came up with the term, but an apt name for people in this precarious situation is the Precariat Class.

[cronus]

Yep. Much of neoliberal society's "prosperity" is built on debt.

I can't think who came up with the term, but an apt name for people in this precarious situation is the Precariat Class.

In the case of America with half the population across demographics up Queer Street. best to call it the Popular Peoples Precariat Class...

[Feck]

I do wish people would not conflate 'class' with 'wealth'

[mistermack]

I do wish people would not conflate 'class' with 'wealth'

In America, they mean the same.

The proof? Donald Trump.

[pErvinalia]

Lower, middle, upper refer to wealth.

[Strontium Dog]

I feel sorry for people who don't have money in the first place, but not those who spend it on frivolous things rather than maintaining a basic level of savings. The difference between people now and people in the past is that these days too many piss their money away on things they don't need. I dare say the lack of forward planning among individuals mirrors the lack of forward planning by our governments.

[Svartalf]

I do wish people would not conflate 'class' with 'wealth'

In America, they mean the same.

The proof? Donald Trump.

that guy has the class of a rotten aubergine

[Galaxian]

I do wish people would not conflate 'class' with 'wealth'

Class & wealth are inextricably entwined & also together with intelligence. There are few exceptions

[mistermack]

I do wish people would not conflate 'class' with 'wealth'

In America, they mean the same.

The proof? Donald Trump.

that guy has the class of a rotten aubergine

I know that. You know that. But millions of Americans think he's a suitable president.

Fuck, I don't think he's fit to be a resident, let alone a President.

[laklak]

People spend a fuckton of money on useless shite. Drive down the road here and look at the cars, damn near all of them are new or at most a few years old. Look at their smartphones, always the latest and greatest. I guarantee there are 60 inch TVs in almost every home. Look at the insanely expensive "athletic" shoes, the $300,000 fishing boats, the big RVs, all of it mortgaged to the hilt. Check the people at Starbucks lining up for a fucking $5 cup of coffee. The average American has over $7000 in revolving debt, meaning credit cards, then car debt, mortgage debt, boat debt, etc. etc. etc. I've ZERO sympathy when they can't pay a $400 bill. Don't spend your money like a drunken sailor on Patpong Road. Make sure you have at least 3 months salary in a savings account, put a minimum of 10% of your income into long term investment, stop upgrading your cell phone and car every time a new model comes out, in short grow the fuck up and start acting like a responsible adult.

If people are so stupid that they'll let the media tell them what they need to buy then they deserve whatever happens to them when the shit hits the financial fan.

[cronus]

What drives people to spend more than they need on trash they don't need? Who is to blame? Seems the advertising companies are the culprits and should be driven out of town with tar and feathers. You can't blame a population when it is manipulated by the heirs of Joseph Goebels to spend and be damned.

[laklak]

Sure you can. They're idiots, and idiots are there to be used.

[cronus]

Sure you can. They're idiots, and idiots are there to be used.

...all these terms are relative. Half right but not wrong....

[laklak]

I'm glad I'm a Gamma. Alphas and Betas have to work SO hard, and Deltas and Epsilons are just really stupid. The really bestest thing to be is a Gamma.