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Old 07-10-2018, 10:52 PM
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Default Re: Itís No Accident Americans Are Still Broke in a Booming Economy

Originally Posted by Lumara View Post
What exactly is less free now? Inquiring minds want to know...
the minimum wage used to be smaller but for the time period it was enough to get you through till you finished college or got a better career. Taking a second job you could decide between blowing it on an immediate want or saving for the future.
The minimum wage increased by increments but it did increase and mostly kept up with inflation. And savings accounts used to draw much more interest than the piddly little they do today. You could also buy a bond once in awhile. Roll all that over into a more lucrative investment as they grew.
Today you have to work two jobs starting out. Just to survive. As prices have increased on everything, wages have not. In fact wages went through a period of sinking for awhile a couple of times in the past 40 years.
While mortgage lenders croon about low interest rates their spiel is a crock 0 bologna. 3% on a 200K home you (on average) will never live long enough to pay for let alone sell and buy bigger. Versus A 45K home at 8 or 12% you can double payments every now and then and pay off early, move your family into a bigger house as they grow.
There's more but thats some main highlights.
The state OF California has a booming economy and $16 billion in surplus and ďrainy dayĒ reserves
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