0% of Americans are living paycheck to paycheck
01-13-2019, 12:41 PM
Quote: (01-13-2019 11:27 AM)mr-ed209 Wrote:
I think the availability of easy credit has the most to do with driving up the price of shit more than any other single factor. The market crash of 2008 was indicative of that. House prices in the UK, for example, are inflated beyond all belief. The difference between property costing £100 - £130k and something at £250k can be often negligible; yet people are willing to pay 150% over the odds just to have a new build on a flash estate. People are mortgaged up the eyeballs.
Cars also seems to be a relatively recent phenomenon. I remember growing up; the luxury germans (Mercedes, BMW) were scarce; reserved for the doctor types and factory owners. Nowadays they're so common that they're barely even a status symbol anymore. Again, they're on finance payments that people can barely afford.
However, the worst thing about all this is not that those foolish enough to pay over the odds have to suffer. The commutative effect of all this 'imaginary money' flowing around is driving up the cost for those who are not inclined to buying for status. Basic house prices and budget cars are more expensive than ever - way more than straightforward inflation could account for.
Nowadays, you're damned if you do, you're damned if you don't.
The real estate crisis of 2008 in the US was mostly a black and immigrant Latino phenomenon. In a 70% White America the majority of defaults were non-White! It was a simple Bush tool that said: "I'll buy you a house if you vote for me." That is why managed to win so many Latino votes despite being unpopular in the second term. And Obama helped then working for those groups who pushed for more de-regulation.
As for the debt rates - credit cards appeared for the average population only in the 1980s in the US because the net earnings then already did not rise. Women started to work more and there came easy credit, so it appeared as if Americans became richer, which was already not really the case. Now often both parents are working full-time even while having good jobs. Of course with the new generations both working won't mean jack shit since they won't be able to reach boomer living standards.
Also something similar happened to the UK, but starting sooner. One aspect of mass migration is also the result towards real estate prices and lack of affordability of rents. It's great for the moneyed classes since you can rent out your properties to immigrants and newcomers at record prices while the majority cannot even purchase real estate themselves if they are starting on zero. Of course - many of those rents are being paid by the same average Joe class who are subsidizing immigrants - regardless whether they happen to be in the US or Europe.
With limited or no migration unemployment rates would be higher and rents lower - the Yellow Vest protests in France and Europe as well as the calls for the wall are also strongly economic since the hitherto brainwashed NPCs are beginning to feel the full brunt of the agenda also in their wallets.
In addition you have cuts of all social welfare and even pension benefits all across the West at least if you are a local or White. Best is to be a "diverse" non-White non-Chinese immigrant. Especially if you are Muslim and have access to 2 18yo women that will demurely live in state-financed apartments that pop out countless kids. Those families sometimes get 10.000$ in Europe and the Somalis in the US also don't seem to be suffering any poverty. The welfare systems in the West prioritize them and are structured towards families which also help baby-popping - best of course being Muslim there.
Of course the guilty parties are not the incomers who are abusing the system, but the same elite who are calling you racist, misogynist, evil Trump supporter or deplorable.
I mentioned it in another thread - to the elite it's better to exist in a South American Dickensian economy. In those economies you don't have to pay a hot 19yo sugarbabe 150.000$ per year. You will be able to get ten 18yo girls for that price - just let them live in a big house and go there for the daily orgies. Your employees are giving you less lip and maybe they will be able to recreate those giant households like Downton Abbey with 5 butlers and chambermaids (those with benefits). The good old robber baron capitalism times will return.
And will the new gen revolt? Nah - they might make powerful weed cheaper and the VR porn and video game sets will take care of the rest.
Though whether this will end so smoothly remains to be seen. I read US military strategy papers where generals said to be ready to use mini-nukes on rioting US population in the next decades. The next town will be more quiet after another one was nuked from orbit.
