6 in 10 Americans don't have $500 in savings

No, obama was prez from 2000-2007. The worst economic times since the great depression. Well the 1st part of that was partying like a drunken sailor, but the partying led to obamas worst crash since the depression.

 

I'm open, when were the R's for working class America?
Which party sided with workers when forming unions? Higher wages? Vacation time?
I am open, please share.

 

Have you not studied Eisenhower, Nixon, or Teddy Roosevelt? This populist rhetoric coming from the GOP is not new.

 

My post was supposed to be sarcastic. But yes I agree with you people are spending far to much money on crap. Just think back to the 90s and see how things have changed. We did not have a cell phone bill, a high cable bill, and an Internet bill. The money that is spent on nice to have stuff but not needed is getting out of hand. I find it hard to feel sorry for people who complain about money that have all this, in the grand scheme of live, unneeded stuff.

 

I have not studied them.
When did the R's move from the people? Actually, Nixon broke the ice with China. A move that is killing working Americans today. In terms of jobs.
I view the D's moving from the people at the time of clinton.

 

I said this back i the 90s. People would buy things and that would be the end of the purchase until a new one was needed.
That wasn't enough profit/sales, so a new method was made, IMO, to make things a monthly type purchase. Sales in almost perpetuity.

 

I would say, maybe during Bush 41's term. Even Reagan, despite hating Social Security, did many things for the program where people benefit still to this day.

Nixon arguably can be thought of as a centrist. Nixon signed OHSA, legislation that protects millions of workers.

Democrats have elites and political dynasties in the same way Republicans did (Kennedys, Rockefellers, Udalls, etc), which is why I just laugh at people who believe voting for someone other than Democrats was "voting against your interests." People honestly believe that voting another rich white man/woman was somehow revolutionary.

 

To the actual topic, the union label "supply side economics/tax policy favoring the rich has drained the middle class" lie narrative. Here's why US citizens don't have savings.

1. The outrageous spiraling costs of healthcare for all ages. This is caused by many factors, "supply side economics" not among them. a) hyperregulation, as opposed to rational regulation, of the healthcare industry; b) allowing the medical industry to self-regulate itself to limit competition and create artificial shortages; c) the hyperregulation of the pharmaceutical industry that drives US medicine costs up higher than most anywhere else in the world (where they aren't dropping over like flies due to less drug regulation...hmm); d) awful, welfare-equivalent, Complex enriching FIASCOES like ACA (even Pelosi admits it is part "job program," WHY? WHY? is healthcare legislation a "job program?"); e) allowing the trial lawyers' lobby, maybe the most powerful Democrat lobby, to stifle tort reform and rational court reform at every level it is proposed; f) protection of insurance company entrenched cronies via hyperregulation... lots of "speaking fee equivalents" here if not outright brown bags hidden under lots of rocks.

2. The "education product" scam drains and impoverishes Americans at all levels. Government meddling in access to education funds under the auspices of "availability" (but actually pocket lining and welfare-equivalent for the edu branch of the gov-edu-union-contractor-grantee-trial lawyer-MSM Complex) has resulted in a 40 year dual digit inflation in education costs that is breaking the average American. The education industry at all levels, from online diploma mills, to local cow colleges, to the elite institutions, have gotten fat at this trough at the consumer's expense. Paired with a compelling PSA/lie that "undifferentiated education product is a panacea" tens of millions of students and parents who should have gone into trades have been duped by fraudulent advertisements that would have any legitimate company in the private sector shut down, sued and maybe imprisoned instantly.

3. Graft and corruption in our government at all levels, but particularly central, chilling our domestic economy into malaise via BAD DEALS, domestic and international, enriching govt contractors, trading partners, "allies" and even our f-ing enemies. But sure, do tell lefties, how the fact that our politicians go to Washington middle class and come out decades later multimillionaires is just "coincidence." The gov-edu-union-contractor-grantee-trial lawyer-MSM Complex profits, the private sector that pays for it all suffers due to this heavy graft cost. Next time you want to ask yourself "why did our country sign that deal?" or "why are we giving that country money?" just imagine a "speaking fee" equivalent brown bag changing hands now, or in the Clintons' case, after they leave office... conveniently. It's that simple, and of course has nothing to do with tax policy or "trickle down economics."

4. Government meddling in consumption markets has produced a vile, consumer trash culture where redistributed income from smart productive hands into stupid Katy Perry-album buying ones pouring money that would be otherwise saved into "stimulus" where its effect on the economy is to create a permanent, dependent, yet arrogant and privileged underclass that will NEVER save money at the expense of the people who would spend and save rationally (watch any Black Friday vid on youtube... that's redistributed money at work).

The government should not be involved in the mortgage markets in any way; we are in fact creating the next 2008, as neither Dodd Frank nor all the Democrat crony capitalism involved with it is addressing the real, underlying problem. Lots of people aren't ready to own a house, some should never own a house, and this isn't the product of discrimination, but rational choices. The US economy, through self-serving Complex manipulation for 100 years, has become a trash consumer culture where consumption pods are fed the sage advice to buy a house they can't afford and then go into debt to fill it with trash they don't need and can't afford. What this has to do with supply side economics? Nothing.

Don't buy gov-edu-union-contractor-grantee-trial lawyer-MSM Complex lie narratives. The problems in our economy have everything to do with the Complex, and almost nothing to do with this or that tax policy. Are they fooling you with the distraction while they try to pick your pockets for their own self-benefit? Sorry bout that if they are.

 

You're correct. Most the the R's back then would be thrown out of their party today.
Most prez's and politicians, until I say 90's were for the American working class.
It wasn't until about NAFTA, but Reagan, if I remember, started the ground work for NAFTA, that it went from the people to the corporations and Wall Street.
And it's got worse and the partisan divide between the parties has got worse. Although, at the national level, i view the divide as fake as both sides will side with Wall St and large multinational corporations.

 

Taxes are too high.

 

So before Pres. Obama took office how many out of 10 had 500 in savings.

 

I'm pretty sure it's union busting, job exporting and trickle-down economics that's left us where we are today, and that's probably a good combo of pure Reagan-era Republican policy and bipartisan policy.

 

I don't think the global elite's plan is to put everyone in the poor house. They just don't want to pay for other people.

 

It's not really even the rich at all that we're talking about, as most people at the lower level of richness just invest by putting their money in the bank or stocks, which is really the same thing. The banks CAN'T invest in businesses with no aggregate demand, they have a fiduciary responsibility not to make investments which look bad and they can be sued for violating that even if the investment succeeds.

When I was in college they were supposedly two things which circulated money in the economy. The first was the multiplier, which worked when the manufacturer sold something, and invested the money back in his company, thus supporting job and more money buy more things, and the second was the accelerator, which worked the same way, but was based on consumer spending.

For some reason conservatives seem to have decided that the accelerator no longer exists, and that the multiplier will work even when people have no money to buy things. Can anyone tell me why that is?

 

How does consumption "jump-start" an economy?

 

Hell, 9 in 10 Trump voters don't even have $100 in savings...

 

It's a matter of supply and demand. Because of the mass influx of foreign workers both legal and illegal the supply of labor is too high compared to the demand for workers. Shorten up the supply of labor by making sure illegals simply can't work or get Government benefits and wages will start to rise again.

 

Wages have not been stagnant for decades:

1951-1960 Avg Wage $3,407.98
Pct Increase for Decade = 43.15%

1961-1970 Avg Wage $4,981.34
Pct Increase for Decade = 51.37%

1971-1980 Avg Wage $9,142.76
Pct Increase for Decade = 92.60% (Due to Monetary Inflation and Wage Inflation)

1981-1990 Avg Wage $17,271.12
Pct Increase for Decade = 52.67%

1991-2000 Avg Wage $26,116.49
Pct Increase for Decade = 47.42%

2001-2010 Avg Wage $37,561.78
Pct Increase for Decade = 26.58%

2011-2015 Avg Wage $45,353.40
Pct Increase for 5 year period = 10.64%


Source: National Average Wage Index

Funny how these people who can't find $500 have $1,200 worth of tattoos.

 

7 in 10 Americans have a smart phone.
8 in 10 Americans have an HD television.
9 in 10 Americans have a subscription based television service(cable or satellite).
8 in 10 Americans have a video game console.
10 in 10 Americans have high speed internet.

You could go on and on. The majority of Americans have a car payment and eat out regularly. If you're living paycheck to paycheck, your spending habits are most likely the cause of it.

 

When rates have been cut in the past the money is invested and economic activity increases and yes people got jobs and incomes increased. Why should we expect different?

Where should the rate be set and why?

 

Watch the Falcons vs Seattle game, there is not a empty seat in the house. Did all those folks cash out their retirements to go to the game? You hit the nail on the head.

 

The so called wealth gap has grown faster under the trickle up economy of the Democrats.

 

Saving for retirement has been a problem for a long time. However, the statement that the American consumer has gone so far into debt that consumer spending is in trouble would not seem to be bourne out by the Fed's figures on household debt service and financial obligations ratio to disposable personal income. Last four quarters it has averaged 15.4%, and has been in that range for quite a while. From the early 2000's through 2009 it averaged close to 18%. Consumers have actually been paying down debt somewhat.

https://www.federalreserve.gov/releases/housedebt/

 

Time to spend less and make more.



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As it says in the Bible, Sirach 18:33 (CEB) = "Don’t become poor by feasting with borrowed money, when you have nothing in your pocket."

Proverbs 23:5 (CEV) = "Your money flies away before you know it, just like an eagle suddenly taking off."

Money management has always been a problem. It's the main problem in marriages. If a couple doesn't agree on money issues they will always have problems and eventually will get divorced.

Hard work is not the cure to one's money problems because if it was every woman in Africa would be a millionaire and there wouldn't be 800 million Indians living in poverty.

The American financial model is built on consumerism but it will collapse as fewer and fewer people become able to consume goods and services on a routine basis.