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Economics Discuss As U.S. economic expansion nears record, 4 in 10 still donít have cash to cover a $40 at the Political Forums; As U.S. economic expansion nears record, 4 in 10 still donít have cash to cover a $400 emergency, report finds. ...

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Old 05-23-2019, 04:20 PM
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Default As U.S. economic expansion nears record, 4 in 10 still donít have cash to cover a $40

As U.S. economic expansion nears record, 4 in 10 still donít have cash to cover a $400 emergency, report finds.

yeah they overlook real life when bragging on the economy
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Old 05-24-2019, 06:09 AM
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Default Re: As U.S. economic expansion nears record, 4 in 10 still donít have cash to cover a

You do realize that just because the economy is booming doesn't guarantee that some people still cannot manage their money. I've know people that make in excess of $100K a year that would fall into the category of not have $400 for an emergency. Their income had nothing to do with that.
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Old 05-24-2019, 07:07 AM
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Default Re: As U.S. economic expansion nears record, 4 in 10 still donít have cash to cover a

Any able bodied person in this country who cannot find work in this economy, has only themselves to blame. Or their parents, or their teachers.

If the problem is debt, again themselves.

It is not the responsibility of our government to fund the welfare of it's citizens. The constitution says to …."provide for the general welfare, not "generally provide welfare."

The President has kept the promise he made and the promise of the Constitution, to provide an environment good for prosperity of the citizens. How does that saying go?,,, You can lead a horse to water,,,,

BYW Salty, your link doesn't work.

I must also point out that 40 years ago, experts advised households that they should have enough money set aside for three months of expenses. Not only was it enough to pay bills if unemployed, it also was enough to pay for an appendectomy or childbirth. Most responsible adults took that advice. Now experts tell us to have enough credit on our credit cards for three months. And many Americans took that as gospel. No wonder so many are in deep, DEEP debt.
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Old 05-24-2019, 07:59 AM
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Default Re: As U.S. economic expansion nears record, 4 in 10 still donít have cash to cover a

If we look at the actual SHED survey instead of the Resistance media spin we find.

Quote:
This year's survey finds that rising levels of employment are translating into improved financial conditions for many but not all Americans, with one third now reporting they are living comfortably and another 40 percent reporting they are doing ok financially," said Federal Reserve Board Governor Lael Brainard. "Even with the improvement in financial outlook, however, 40 percent still say they cannot cover a $400 emergency expense, or would do so by borrowing or selling something.
Keep in mind this is a survey of people's subjective feelings not a financial audit. Reporting that 70% of respondents reported they are living comfortably or living ok financially doesn't fit the Resistance narrative so it doesn't make the headlines. Instead, we get the fake news spin implying 40% of people cannot cover a $400 emergency expense when the truth is the percentage is inflated by including people who said they would borrow or sell something to cover the unexpected expense. It's the same sort of deception used to inflate hunger statistics by including so-called food insecurity, worry about future meals, as an instance of hunger.

https://www.federalreserve.gov/newse...r20180522a.htm

For the undisclosed percentage of people who would have to borrow to cover an unexpected $400 expense and have less than stellar credit the options would be narrowed if Progressive demogogues like Bernie Sanders or Elizabeth Warren have their way. These multimillionaire Progressives want to "protect" the less affluent by making it more difficult to access the funds to pay for an auto repair with a payday loan or a high interest credit card. Classic Progressive let them eat cake thinking.
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