The consumer is in good shape as long as the consumer has a job.
78% are living paycheck to paycheck. 50% have no saving, no retirement & keep adding to revolving credit card debt to fund expenses.
The judge consumer health as good when things are at their best is a fool's errand https://t.co/kwVbxMIrl2— Sven Henrich (@NorthmanTrader) September 21, 2019
-----------------------------------------------------
It is my sincere desire to provide readers of this site with the best unbiased information available, and a forum where it can be discussed openly, as our Founders intended. But it is not easy nor inexpensive to do so, especially when those who wish to prevent us from making the truth known, attack us without mercy on all fronts on a daily basis. So each time you visit the site, I would ask that you consider the value that you receive and have received from The Burning Platform and the community of which you are a vital part. I can't do it all alone, and I need your help and support to keep it alive. Please consider contributing an amount commensurate to the value that you receive from this site and community, or even by becoming a sustaining supporter through periodic contributions. [Burning Platform LLC - PO Box 1520 Kulpsville, PA 19443] or Paypal
-----------------------------------------------------
To donate via Stripe, click here.
-----------------------------------------------------
Use promo code ILMF2, and save up to 66% on all MyPillow purchases. (The Burning Platform benefits when you use this promo code.)
It is my sincere desire to provide readers of this site with the best unbiased information available, and a forum where it can be discussed openly, as our Founders intended. But it is not easy nor inexpensive to do so, especially when those who wish to prevent us from making the truth known, attack us without mercy on all fronts on a daily basis. So each time you visit the site, I would ask that you consider the value that you receive and have received from The Burning Platform and the community of which you are a vital part. I can't do it all alone, and I need your help and support to keep it alive. Please consider contributing an amount commensurate to the value that you receive from this site and community, or even by becoming a sustaining supporter through periodic contributions. [Burning Platform LLC - PO Box 1520 Kulpsville, PA 19443] or Paypal
-----------------------------------------------------
To donate via Stripe, click here.
-----------------------------------------------------
Use promo code ILMF2, and save up to 66% on all MyPillow purchases. (The Burning Platform benefits when you use this promo code.)
Click to visit the TBP Store for Great TBP Merchandise
Life is full of choices.
Many, many consumers make the minimum payment due every month on the credit cards and ignore the total balance owed because it is just too damned depressing to think about it. Millennials are notorious this way ( I spawned 2 of them )
good shape, right… denial is a helluva drug.
As long as the wage slave cattle keep getting up and punching the clock Monday-Friday, the Fed is tickled as a hog in shit.
An economy that can’t handle 21/2% interest rate is not a healthy economy. The whole fuckin thing goes tits up in 2024 at the latest. Medicare will be our undoing, not social security.
You spelled “Medicaid” wrong.
Just sayin
Any system that relies on usury was not healthy to begin with.
My hourly rate is good but the hours per week as so low I’m actually making a yearly salary BELOW full time minimum wage, while my boss is raking in 12-15K a MONTH and raising the prices again. Smallish town, not many decent jobs here. Good thing the man has a better job than me.
Two years out of HS my daughter ran up her American Express a few grand on mostly clothes, weekend trips, and always eating out. Her and two girlfriends rented a nice three bedroom apartment, she had a decent job, but with her rent and car payment she couldn’t make the CC payments. The card was under me as I got it for her before she went on her own.
I thought I had drilled common sense spending into her, but there is nothing like putting your hand on the hot stove to understand how much a burn burns.
I cut her a deal. She had to take Dave Ramsey’s Financial Peace University 13 classes (I paid for it as she was broke) and I’d bail her out for 50% of the debt to give her time to pay back the other 50%. Then she gets her own card under her name, and if there is another overspending binge she is on her own. Time to put on he Big Girl pants.
One of the best moves I made with her on that front. She did both, and became wise and savvy with her money from that point on.
She is now 43, a Director for a national corporation, living large and financially sound.
Like gatsby1219 said…life is full of choices…learn or burn.