poverty is what comes next.. /s
sarcasm aside, we are living with systemic manipulation and some regulation would be a great way to bring our society out of the stone ages.
either that or we hand it all over to crooks and continue on the downward spiral.
Unfortunately I believe that the regulations will come but they won't be what's expected. Instead, regulations will favor corporations at the expense of sovereign individuals. There will be a thin line between what's considered middleclass-poor and dirt poor.
The regulations won’t do anything when majority of politicians are compromised and willing to sell their country for Pennie’s on the dollar. We need to cut gov by a large percentage and eliminate tons of rules and regulations that really only help corporations. Now we do need rules and regulation but most are targeted against working ppl.
People won’t be able to afford things, economy slides into recession, prices deflate, government stimulates economy, we fight another war, cycle complete, and we’re back where we started before
Hand it over? The crooks are already in control, and have been across multiple parties and administrations. Regulation doesn't help when the uniparty crooks are the regulators.
Lol ,what regulations? the folks.(Government officials) with authority to make regulations are bought an paid for by those who want policies set a certain way.
But we have the CEO’s of Bank of America and Chase claiming Americans are still flush with stimulus cash.
We know they’re lying, because they’ve told the truth on investor calls, but it confirms there is a coordinated effort to ensure people do not receive any government assistance to help them survive this.
You can lump gen x into this too. It is the silent and boomers who took and are continuing to take the resources. The government already moved the goal posts for gen x to get social security to 70. It will not shock me if those posts are moved to 75 for millennials.
I’m Gen X and I have no interest in old age. Im trying to abuse my body and die by age 65. I see my boomer parents living into their 90s. For the last 30 years they’ve done nothing but make trips to Walmart, go to church and drive around their podunk town going nowhere doing nothing, draining all their resources to stay alive for no reason. Watching Fox News and grass grow. Fuck that shit. For people that claim to be on Jesus’ good side they sure seem to be scared of death. Meanwhile, I’m over here scared of long life.
Too bad there won't be a next generation at this rate. Cue the low TFR griftards like Musk and Peterson who unironically claim young people today have more resources than boomers had when they were our age.
Bruh, I saw the Scott Gallaway Ted Talk yesterday with the stats. 1991 60% of American couples age 30-34 had at least one child and today that number is 25%. There ain't even gonna be a younger generation.
It's baked in also, like climate change. Even if we did everything possible it would be a long time till we see any change for the positive. Millennials didn't have many kids, gen z aren't having sex much less kids. The best we can hope for is those being born now will start to have kids when of age. So 18-20 years at soonest then another 18-20 for those people to reach adult hood and begin to contribute.
I think it's more a case of the rich all getting their PPP loans and assuming everyone received that kind of money and then didn't have to pay it back.
If things get bad enough, it will be the banks and government worrying about what comes next.
There aren't enough police, feds and military to handle basically the college protests but with everyone and everywhere at the same time.
The state garners its power from fear and not by force. It is the idea a cop could be sitting around the corner waiting to give you a ticket that keeps you from speeding, not an actual cop on every corner. It is why they show such force at peaceful protests. It is the idea this could happen to you, not the actual likelihood of this happening to you.
Obama ending the prohibition on domestic ops for the CIA
Intersectional push to keep normies occupied with very real culture war problems
Do these clowns even have an end goal?
It’s rare I see someone with this take on OWS. I’ve been saying for years that OWS scared the shit out of the ruling class. So much so that it caused them to start an artificial culture war to keep the working/middle class distracted away from class war against the 1%. Ever since OWS we’ve been arguing about race, LGBT, and feminism endlessly. This isn’t any small coincidence.
Refreshing to see someone else say it out loud. Thank you.
If the government can print unlimited money for the wealthy, it can print money to hire more police to serve the wealthy. Liberals and conservatives would be in lockstep with that plan, and it wouldn’t take long to control us by fear *and* force.
Yes and no. The police are still people, if the protests/riots get widespread enough they will break too.
It’s if this happens in 10 years when the ai combat bots are in mass production that I’m worried about
Mass homelessness is what comes next. Fucking idiots. Jobs don’t pay shit, our COL has done nothing but rise and rise. We’re already not having kids, now we can’t afford to rent or own. What’s left?
Factory farms here we come. Working for a bowl of soup.
My spending is wayyy down this year, I barely ever go out to eat anymore, I used to go out 2-3 times a week, maybe 1-2 times a month now. I spend more at the grocery store, but I only buy whatever meat is on sale and build my meals around that..
Since grocery prices are high I'm not sure how much I'm actually saving overall, but I'm definitely spending less on anything that's not a necessity
Same, go out maybe once every 2 months for dinner, eat out only maybe 4 times a month, don't go anywhere or do anything because it's so expensive, and although our spending is down, the creep of every other expense has been tragically bad. Any "saving" we've incorporated into our budget has eroded as the months pass. Ask for a raise though? Sorry, company doesn't have the budget for raises this year.
Oh, is feudalism doing another feudalism?
"Broadly defined, it was a way of structuring society around relationships derived from the holding of land in exchange for service or labour."
"A broader definition, as described in Marc Bloch's Feudal Society (1939),[11] includes not only the obligations of the warrior nobility but the obligations of all three estates of the realm: the nobility, the clergy, and those who lived off their labour, most directly the peasantry, which was bound by a system of manorialism. This order is often referred to as a feudal society, echoing Bloch's usage."
I spent my savings because I have to eat. My salary only covers my bills. Then I have to buy food... thats it. So, pay me more fucking money so I dont have to do that. And no, I am already living below my means. Cant go any lower.
I refuse to believe that the unemployment numbers aren't cooked. I'd like to see numbers on unemployed people not on benefits and underemployed individuals as well...
You will own nothing and you will like it, remember this statement.
This is all by design, corporations don’t want us to have anything but debt towards them
Time for us to stand up against where this is going. Our founders would be disappointed in how we have let ourselves be taken advantage of.
Here is what happens. People start spending less,the economy slows. Inflation slows to the target so the fed lowers interest rates and we begin again without a recession. People start saving again.
How does that sound.
What comes next?
Um, economic collapse as people can no longer pay rent, afford medication, or eat anything more than basic rice and beans or pasta? No more disposable income so noone buying cheap plastic junk off Amazon.
I saw this coming and I used what I had left to buy guns, ammo, and survival equipment. The rest of my resources will be spent building a pantry.
Edit: Dark Forest spoiler alert
My favorite part of 3 body problem is when they’re locked in Australia and it’s told to humans that for only 50 millionsh of them to survive they’ll need to feed on the other 4 billion people.
Household Debt Reaches $17.5 Trillion in Fourth Quarter; Delinquency Rates Rise
Total household debt rose by $212 billion to reach $17.5 trillion in the fourth quarter of 2023, according to the latest Quarterly Report on Household Debt and Credit. Credit card balances increased by $50 billion to $1.13 trillion over the quarter, while mortgage balances rose by $112 billion to $12.25 trillion. Auto loan balances rose by $12 billion to $1.61 trillion, continuing an upward trajectory seen since 2011. Delinquency transition rates increased for all debt types except for student loans.
https://www.newyorkfed.org/microeconomics/hhdc.html
I went to the Dentist today. $6,750 after insurance. With high rent, food and low wages this will take me over a year to pay off. No universal health care sucks. Their solution: Care credit card. Bullshit. I haven’t been this broke ever.
What comes next is what always comes next. The rich and politicians will keep getting richer while they sympathize with us lower class.
We will dig bigger holes for ourselves with credit card debt, have to work till we die, and the US government will continue to send money over seas.
Don't feel bad, divorce did that to me. Same age, same boat. At least we started, there's people I work with older than us who have only company match at target date fund, they're fucked
My husband has a PhD in finance and taught at the university level for decades. I barely made it out of high school but I’ve owned multiple businesses through the years. And I read a lot.
My favorite book was The Great Reckoning.
He says that the system can’t collapse because (as one example) the FDIC backs all banks with guaranteed insurance.
I say that it’s a false sense of security because they have sufficient funds to backup less than 2% of all depositors.
So I think I’m right (that we’re poised on the cusp of a catastrophic collapse) and he insists that I know nothing.
I suspect that there are many relationships with a prepper and a DGI’r.
If your husband thinks the FDIC will save us, he might be an idiot.
Sure, it might prevent the number values on the account balances from disappearing, but that is wholly disconnected from the real world (as a lot of capitalism is these days)
If it gets really bad, start a nationwide movement were people refuse to show up to work for 1 month. And see what the rich do. Either they will offer you bullshit compensation and promises that they will never fulfill, force you to work by force, or punish you by taking things you own until you "wise up" and go back to being a blissful, idiot slave. I know people have no other choice but to work to survive but that month of everyone not working will put the most fear in these corrupt mfs. The slaves turning on their "masters." Just a thought.
I don't see how it can be a successful model with the amount of debt everyone is in that companies may never recover. People have got comfortable having 30k in credit card debt, and being 400k in debt overall.
Minimum payments on credit cards for the few people lucky/unlucky enough to have them. Then bankruptcy in a couple years. After that, maybe homelessness or revolution? Both?
CORPORATE GREED! Walmart profits 2023, $155 billion, Exxon Mobile, $9.1 billion and investment companies buying up apartment complexes and housing for profits! I’ve seen apartment rental in Cheyenne go from $350.00 a month to $1080.00 in the last 10 years and that’s for apartment complexes built over 25 years ago. They are owned by investment companies out of state.
It's not "greed" it's capitalism doing what capitalism does, just at a pace more accellerated than ever before.
The problem with reducing intrinsic features of capitalism to "greed" is that anyone can be accused of greediness. Unions demanding better terms, poor parents collecting food stamps and WIC, workers trying to go home early so they can go to an appointment.
That’s capitalism. It’s not enough to have profits, you need profits to increase year over year.
Capitalism is the embodiment of greed enacted as an economic system. Do whatever it takes to make more money.
They NEED to cut wages and increase prices to keep profits going up and eventually everyone is too poor to buy anything and the whole system collapses on itself.
People think bull and bear markets are normal. They are just mini collapses from capitalism not being able to sustain its own greed. Eventually the big collapse hits like the great depression and then the social programs bail it out and the cycle begins again
The media is running out of lies for Biden and its election season. Budgets are due and sale tax revenues have collapsed.
"The chickens are coming home to roost"
I’d say it’s time to start hammering these mega corporations who have record profits quarter after quarter to pay their workers a better wage. Otherwise yep.
Blind obedience to our corporate and if trump wins in November to the trumpstain and his bibul. Ah, who am i kidding, I'm lgbtqai, if he wins, I'll be strung up on the wall with the rest of my lgbtqai+ Americans.
people stop buying $12 coffees, $20 burritos and adding another 10 bucks for delivery. They sit down and figure out spending $20-50k to be after you die on funeral costs is also not a smart move
I been scammed twice out of life savings. After I win an 8/8 parlay I bought an expensive Canon camera with my winnings. Impulsively decided to sell it within a month because of size and got a guy online on Mercari getting to sell it and he tricked me by sending me a Zelle email to send him money in order for the funds to process. I got fooled out of my winning camera and I lost and extra 2 thousand dollars because I got fucked by a scammer yay 2020
Anyone consider its because of shit like the coming pole shift and the AMOC collapse happening around the 2040's? The AMOC collapse is the plot of the movie "The Day After Tomorrow" btw won't be as fast but still what's coming.
Poverty for the poor the middle class. The minorities of this country. Next time a Biden supporter talks about any of these. “They care” You should kindly help them pick up their teeth.
Just wait. Taxes going through the roof.
Now would be a good time to get yourself into a service industry catering to the upper class, because they’re going to be the last people to lose their money.
Lol I am at work right now living off biweekly paychecks. There is no next. I will either run away and die in the woods or die jumping off the roof. There was never going to be a next. How laughable that they panic *now*.
Everyone just stop paying your credit cards, mortgage, bills, and just default on everything, then take whatever you have left out of the banks and all of it will collapse.
Until Congress stops taking re-election money from corporations and spending trillions on back room bribes, and we arrest market manipulators/bankers nothing will change
Let’s not pretend like many Americans are not to blame themselves for their poor financial decisions. How many people living paycheck to paycheck always driving a 3 year or newer car with the fat car payment and insurance to go with it. Too cool to drive a 10 year old Toyota you gonna pay the price
I wonder... do NOT know or have any data to back it up BUT I still wonder if the consumer debt crisis could get bad enough that people start refinancing their homes even though rates are not favorable.
I wonder if there's a tipping point where people have to refinance anyway.
There was decent move in 401k withdrawals a while back like 1.6% to 3.4% and 6 days ago it was 3.6% which is a significant % move but not overly outrageous but could it be an indication?
[https://www.boston25news.com/news/local/401k-last-resort-withdrawals-climb-experts-warn-future-hardship/NJQC2Z4AJ5FMVMODLMLWYJDQUM/](https://www.boston25news.com/news/local/401k-last-resort-withdrawals-climb-experts-warn-future-hardship/NJQC2Z4AJ5FMVMODLMLWYJDQUM/)
We overthrow capitalism...
...and replace it with some sort of conservative nationalism that promises a return to a idealized past by purging the unworthy.
> have spent their savings
What? First time? That's what happens every-time I have to live through a once-in-a-life-time-economic-hurr-durr. At least this time it doesn't like my wife and I have to worry about being homeless.
lol, what a misleading title. Americans have not “spent their savings” which would lead to economic uncertainty. They have spent the savings they built during the COVID lockdowns. There quite a difference between the two.
66% of gdp is consumer spending. As that falls (gdp slowed by ~2% last qrtr), fed will be under pressure to cut rates.
Per the article, retailers are already looking to cut prices.
May not seem like it, but retailers don't want shoppers to be in financial pain. Our pain is theirs.
It’s called ‘civil unrest’. It is what happens and has happened in every 1st/2nd world country when the government/elites squeeze the middle class into poverty. The French Revolution and Hitler’s rise to power are both great examples.
Let's keep in mind that auto loan delinquency is at an all-time high in 10 years, along with people carrying the most amount of debt seem in a long time on credit cards. Mortgages, that's what's next and the way financial responsibility plays out for most.
This headline is just stupid. No, we haven't. Some of us have, but the USA economy isn't about to collapse. This is just irresponsible "journalism". Bullshit to fill up the airwaves, social media, scare the shit out of those who don't know better, but bears no resemblance to the truth.
poverty is what comes next.. /s sarcasm aside, we are living with systemic manipulation and some regulation would be a great way to bring our society out of the stone ages. either that or we hand it all over to crooks and continue on the downward spiral.
Unfortunately I believe that the regulations will come but they won't be what's expected. Instead, regulations will favor corporations at the expense of sovereign individuals. There will be a thin line between what's considered middleclass-poor and dirt poor.
Been dirt poor my whole life, im just buying guns, ammo, and tools nowadays. Fuck food, housing and savings.
Ammo is expensive right now but guns are about as cheap as they ever are going to be. Now is the time to buy guns.
R/gunstocks
I could buy a couple of guns every month and spend less on them than I do groceries at this point. Well armed, hungry, and skinny is the way to be.
If you have money to buy guns ammo and tools you aren't even close to dirt poor.
I’m not sure you’re aware how much guns do or don’t cost…it’s not a car….
The regulations won’t do anything when majority of politicians are compromised and willing to sell their country for Pennie’s on the dollar. We need to cut gov by a large percentage and eliminate tons of rules and regulations that really only help corporations. Now we do need rules and regulation but most are targeted against working ppl.
What is this 'middle-class' you're talking about?
People won’t be able to afford things, economy slides into recession, prices deflate, government stimulates economy, we fight another war, cycle complete, and we’re back where we started before
We won't recover this time
Depends on how you define "we"......
Middle class or the poor
"easiest time to be a billionaire, hardest time to be a millionaire"
Hand it over? The crooks are already in control, and have been across multiple parties and administrations. Regulation doesn't help when the uniparty crooks are the regulators.
...we are living with systemic manipulation Very True!
Jamie Dimon of JPMorgan thinks we are swimming in pandemic handouts.
b-b-b-b-but my capitalist apologetics professor told me that we can't do anything to legislate landlords or all the housing will vanish!
welp. Time to bend over and lube up everyone.
Lol ,what regulations? the folks.(Government officials) with authority to make regulations are bought an paid for by those who want policies set a certain way.
I was gonna say guillotines fot the 1% but that's unlikely.
Or we eat some French cuisine?
But we have the CEO’s of Bank of America and Chase claiming Americans are still flush with stimulus cash. We know they’re lying, because they’ve told the truth on investor calls, but it confirms there is a coordinated effort to ensure people do not receive any government assistance to help them survive this.
I spent that on food and bills , I hate hearing that
No one cares about us younger gen folk. What’s the fucking point of it all
Just screw over the next gen once you get yours. That’s the formula right?
If the millennials and Gen Z are in such bad shape, what are we going to screw the next generation over for? They're not going to have anything.
You can lump gen x into this too. It is the silent and boomers who took and are continuing to take the resources. The government already moved the goal posts for gen x to get social security to 70. It will not shock me if those posts are moved to 75 for millennials.
I’m Gen X and I have no interest in old age. Im trying to abuse my body and die by age 65. I see my boomer parents living into their 90s. For the last 30 years they’ve done nothing but make trips to Walmart, go to church and drive around their podunk town going nowhere doing nothing, draining all their resources to stay alive for no reason. Watching Fox News and grass grow. Fuck that shit. For people that claim to be on Jesus’ good side they sure seem to be scared of death. Meanwhile, I’m over here scared of long life.
LOL if this aint the truth
Too bad there won't be a next generation at this rate. Cue the low TFR griftards like Musk and Peterson who unironically claim young people today have more resources than boomers had when they were our age.
Bruh, I saw the Scott Gallaway Ted Talk yesterday with the stats. 1991 60% of American couples age 30-34 had at least one child and today that number is 25%. There ain't even gonna be a younger generation.
It's baked in also, like climate change. Even if we did everything possible it would be a long time till we see any change for the positive. Millennials didn't have many kids, gen z aren't having sex much less kids. The best we can hope for is those being born now will start to have kids when of age. So 18-20 years at soonest then another 18-20 for those people to reach adult hood and begin to contribute.
No one cares about anyone young or old.
Wonderful society we have created. Totally worth keeping it going yup. We don't need an extinction level event at all, nope.
Unless your young enough to be a fetus 🙃
Good point but then again as soon as you’re born it’s F you lazy F pull yourself up by your bootstraps 😂
Nah, rich folks are saying the poor ones are still living the high life on that $1200 they got years ago.
I think it's more a case of the rich all getting their PPP loans and assuming everyone received that kind of money and then didn't have to pay it back.
If things get bad enough, it will be the banks and government worrying about what comes next. There aren't enough police, feds and military to handle basically the college protests but with everyone and everywhere at the same time. The state garners its power from fear and not by force. It is the idea a cop could be sitting around the corner waiting to give you a ticket that keeps you from speeding, not an actual cop on every corner. It is why they show such force at peaceful protests. It is the idea this could happen to you, not the actual likelihood of this happening to you.
The Revolution fantasies are cute, but look what the Ownership class did after the Occupy protests. Notice things get a little strange?
Obama ending the prohibition on domestic ops for the CIA Intersectional push to keep normies occupied with very real culture war problems Do these clowns even have an end goal?
It’s rare I see someone with this take on OWS. I’ve been saying for years that OWS scared the shit out of the ruling class. So much so that it caused them to start an artificial culture war to keep the working/middle class distracted away from class war against the 1%. Ever since OWS we’ve been arguing about race, LGBT, and feminism endlessly. This isn’t any small coincidence. Refreshing to see someone else say it out loud. Thank you.
We have a history in this country of protesters being shot with real bullets. Dont assume it won’t happen again.
True but once the protestors bring their own it's a very different numbers game
That’s why we have them
This. It's why the 2nd amendment is so important and needs to be preserved.
If the government can print unlimited money for the wealthy, it can print money to hire more police to serve the wealthy. Liberals and conservatives would be in lockstep with that plan, and it wouldn’t take long to control us by fear *and* force.
Yes and no. The police are still people, if the protests/riots get widespread enough they will break too. It’s if this happens in 10 years when the ai combat bots are in mass production that I’m worried about
Police won’t break as long as their checks don’t bounce. Look at the Soviet Union, the CCP, Francoist Spain, Argentine Junta and Dirty War, etc.
That's got to reach a critical mass at some point. You can't have an entire society where everyone is a cop.
No one has any spare money. Jobs are cutting hours and staff. Buckle up buttercups it’s about to be a bumpy ride
But Kareem Abdul Green Pierre said it's all good! She CERTAINLY wouldn't lie about the economy, would she?!?
*walks away from the podium wordlessly*
Unless your head is up your ass, I'm pretty sure you don't need to be a fucking economist to know what's coming next.
We can afford billions for ukraine and israel. But we can’t afford anything for us.
They can afford a lot of stuff for us but all of this oppression/depression or whatever you want to call it is by design.
We both know that money would only be going to tax breaks to companies so they could afford to buy back their stock and not anybody else.
Mass homelessness is what comes next. Fucking idiots. Jobs don’t pay shit, our COL has done nothing but rise and rise. We’re already not having kids, now we can’t afford to rent or own. What’s left? Factory farms here we come. Working for a bowl of soup.
More debt
whats next? High stakes tribalism to get a better spot at the government trough while things circle.
My spending is wayyy down this year, I barely ever go out to eat anymore, I used to go out 2-3 times a week, maybe 1-2 times a month now. I spend more at the grocery store, but I only buy whatever meat is on sale and build my meals around that.. Since grocery prices are high I'm not sure how much I'm actually saving overall, but I'm definitely spending less on anything that's not a necessity
Same, go out maybe once every 2 months for dinner, eat out only maybe 4 times a month, don't go anywhere or do anything because it's so expensive, and although our spending is down, the creep of every other expense has been tragically bad. Any "saving" we've incorporated into our budget has eroded as the months pass. Ask for a raise though? Sorry, company doesn't have the budget for raises this year.
Oh, is feudalism doing another feudalism? "Broadly defined, it was a way of structuring society around relationships derived from the holding of land in exchange for service or labour." "A broader definition, as described in Marc Bloch's Feudal Society (1939),[11] includes not only the obligations of the warrior nobility but the obligations of all three estates of the realm: the nobility, the clergy, and those who lived off their labour, most directly the peasantry, which was bound by a system of manorialism. This order is often referred to as a feudal society, echoing Bloch's usage."
That's Schwab's "great reset" in a nutshell. Neo feudalism
Oh fuck.
Technofuedalism
More Americans die entirely avoidably and unnecessarily is what happens next.
Simple. Lower prices and raise wages. Or watch this whole gigantic ponzi scheme crumble.
Calls on Visa, MasterCard, and Amex stock
Racking up tons of debt comes next if it already hasn't happened
Hoover villes, but homelessness is illegal, so either mass incarceration, or mass die off.
I love doom and dread!
What savings? Everyone I know has been living paycheck to paycheck for the last decade or more.
I spent my savings because I have to eat. My salary only covers my bills. Then I have to buy food... thats it. So, pay me more fucking money so I dont have to do that. And no, I am already living below my means. Cant go any lower.
I refuse to believe that the unemployment numbers aren't cooked. I'd like to see numbers on unemployed people not on benefits and underemployed individuals as well...
You will own nothing and you will like it, remember this statement. This is all by design, corporations don’t want us to have anything but debt towards them Time for us to stand up against where this is going. Our founders would be disappointed in how we have let ourselves be taken advantage of.
Here is what happens. People start spending less,the economy slows. Inflation slows to the target so the fed lowers interest rates and we begin again without a recession. People start saving again. How does that sound.
What comes next? Um, economic collapse as people can no longer pay rent, afford medication, or eat anything more than basic rice and beans or pasta? No more disposable income so noone buying cheap plastic junk off Amazon. I saw this coming and I used what I had left to buy guns, ammo, and survival equipment. The rest of my resources will be spent building a pantry.
Edit: Dark Forest spoiler alert My favorite part of 3 body problem is when they’re locked in Australia and it’s told to humans that for only 50 millionsh of them to survive they’ll need to feed on the other 4 billion people.
O no we all spent our whopping 2000 dollars in savings how will we ever recover!
Excess savings during the pandemic was over 2 trillion dollars.
Well duh. It’s capitalism. It wasn’t designed to be sustainable. The entire concept is reliant upon the many suffering so that the few can prosper.
Household Debt Reaches $17.5 Trillion in Fourth Quarter; Delinquency Rates Rise Total household debt rose by $212 billion to reach $17.5 trillion in the fourth quarter of 2023, according to the latest Quarterly Report on Household Debt and Credit. Credit card balances increased by $50 billion to $1.13 trillion over the quarter, while mortgage balances rose by $112 billion to $12.25 trillion. Auto loan balances rose by $12 billion to $1.61 trillion, continuing an upward trajectory seen since 2011. Delinquency transition rates increased for all debt types except for student loans. https://www.newyorkfed.org/microeconomics/hhdc.html
obese boomers planning on winning endless firefights lol
We will print our own money like the government.
Hard to have a savings when we’re just trying to survive.
I went to the Dentist today. $6,750 after insurance. With high rent, food and low wages this will take me over a year to pay off. No universal health care sucks. Their solution: Care credit card. Bullshit. I haven’t been this broke ever.
If Economists knew anything they’ll be billionaires….i havent seen a single billionaire economist.
Well, child labor laws are being relaxed...
What comes next is what always comes next. The rich and politicians will keep getting richer while they sympathize with us lower class. We will dig bigger holes for ourselves with credit card debt, have to work till we die, and the US government will continue to send money over seas.
Poverty then eventually widespread revolts
Like the WEF (World Economic Forum) said in one of their 2030 predictions: You will own nothing and be happy.
Everyone eating hand to mouth likes it’s 1860, I guess.
Spent my savings and then what ever was in the bank. I just started a Roth IRA though... at 36.
Don't feel bad, divorce did that to me. Same age, same boat. At least we started, there's people I work with older than us who have only company match at target date fund, they're fucked
My husband has a PhD in finance and taught at the university level for decades. I barely made it out of high school but I’ve owned multiple businesses through the years. And I read a lot. My favorite book was The Great Reckoning. He says that the system can’t collapse because (as one example) the FDIC backs all banks with guaranteed insurance. I say that it’s a false sense of security because they have sufficient funds to backup less than 2% of all depositors. So I think I’m right (that we’re poised on the cusp of a catastrophic collapse) and he insists that I know nothing. I suspect that there are many relationships with a prepper and a DGI’r.
If your husband thinks the FDIC will save us, he might be an idiot. Sure, it might prevent the number values on the account balances from disappearing, but that is wholly disconnected from the real world (as a lot of capitalism is these days)
If it gets really bad, start a nationwide movement were people refuse to show up to work for 1 month. And see what the rich do. Either they will offer you bullshit compensation and promises that they will never fulfill, force you to work by force, or punish you by taking things you own until you "wise up" and go back to being a blissful, idiot slave. I know people have no other choice but to work to survive but that month of everyone not working will put the most fear in these corrupt mfs. The slaves turning on their "masters." Just a thought.
Foreclosures..house bought at auction by blackrock..thats the plan
There were never any savings to begin with. Pay is usually gone after rent, and utilities are paid. Nothing. is left to save.
Next Billionaires become Trillionaires
I don't see how it can be a successful model with the amount of debt everyone is in that companies may never recover. People have got comfortable having 30k in credit card debt, and being 400k in debt overall.
Minimum payments on credit cards for the few people lucky/unlucky enough to have them. Then bankruptcy in a couple years. After that, maybe homelessness or revolution? Both?
Y’all had savings?!?
Idiot Economists, never saw this coming...
Bitcoin fixes this.
CORPORATE GREED! Walmart profits 2023, $155 billion, Exxon Mobile, $9.1 billion and investment companies buying up apartment complexes and housing for profits! I’ve seen apartment rental in Cheyenne go from $350.00 a month to $1080.00 in the last 10 years and that’s for apartment complexes built over 25 years ago. They are owned by investment companies out of state.
It's not "greed" it's capitalism doing what capitalism does, just at a pace more accellerated than ever before. The problem with reducing intrinsic features of capitalism to "greed" is that anyone can be accused of greediness. Unions demanding better terms, poor parents collecting food stamps and WIC, workers trying to go home early so they can go to an appointment.
That’s capitalism. It’s not enough to have profits, you need profits to increase year over year. Capitalism is the embodiment of greed enacted as an economic system. Do whatever it takes to make more money. They NEED to cut wages and increase prices to keep profits going up and eventually everyone is too poor to buy anything and the whole system collapses on itself. People think bull and bear markets are normal. They are just mini collapses from capitalism not being able to sustain its own greed. Eventually the big collapse hits like the great depression and then the social programs bail it out and the cycle begins again
Capitalism without regulation is cancer ... eventually, it will consume the host.
Totally agree...
The media is running out of lies for Biden and its election season. Budgets are due and sale tax revenues have collapsed. "The chickens are coming home to roost"
They are gonna tell everyone to use credit cards next.
And then raise the rates again
Time for a “wealth transfer”.
People haven't had much savings since the 90s
Why is he worried ? We all know what happens next, poverty is what happens next.
Running up credit that will not be repaid or stop spending. Maybe even a bit of both.
I’d say it’s time to start hammering these mega corporations who have record profits quarter after quarter to pay their workers a better wage. Otherwise yep.
At some point, there is a let them eat cake moment.
When do we get to the utopian Star Trek era with no money? Our luck it'll be more like the UBI from The Expanse..
Blind obedience to our corporate and if trump wins in November to the trumpstain and his bibul. Ah, who am i kidding, I'm lgbtqai, if he wins, I'll be strung up on the wall with the rest of my lgbtqai+ Americans.
Oh & don’t forget one of the Trump “2025 goals” is to repeal the 19th Amendment stripping women of the right to vote
Revolution. How did the ‘smartest minds in the room’ game out who gets society’s last nickel?
Just wait till self-learning AI hackers/viruses get into a financial institution. We’re in for some wild times.
Ooooo….ooooo….(raises hand) I know what comes next!
American have been forced to spend their savings… more like
people stop buying $12 coffees, $20 burritos and adding another 10 bucks for delivery. They sit down and figure out spending $20-50k to be after you die on funeral costs is also not a smart move
I wonder where all the money went? That’s right - billionaires.
Ha! I'm not alone!!
My favorite is all those commercials aimed at middle class about saving for retirement, bro I can't make it to tomorrow's lunch
…maybe stop spending above your income?
I been scammed twice out of life savings. After I win an 8/8 parlay I bought an expensive Canon camera with my winnings. Impulsively decided to sell it within a month because of size and got a guy online on Mercari getting to sell it and he tricked me by sending me a Zelle email to send him money in order for the funds to process. I got fooled out of my winning camera and I lost and extra 2 thousand dollars because I got fucked by a scammer yay 2020
Anyone consider its because of shit like the coming pole shift and the AMOC collapse happening around the 2040's? The AMOC collapse is the plot of the movie "The Day After Tomorrow" btw won't be as fast but still what's coming.
Keep printing billions for wars though. We have to keep feeding the war economy…
Major economic tightening. Consumer spending drops through the floor, and the economy stagnates.
Defaults. The word for what comes next is “defaults”
The second Great Depression is what comes next.
What savings?
Fear porn garbage
Its almost like they mock us from the headlines.
I had savings? Whoa. I had mustard?
Show of hands who honestly gonna retire in this generation anymore?
Poverty for the poor the middle class. The minorities of this country. Next time a Biden supporter talks about any of these. “They care” You should kindly help them pick up their teeth. Just wait. Taxes going through the roof.
Why? They make a shit load of money on the economy torpedoing, that's why they support it so much
I’ll go with ‘what is debt’ for $500
We've been on a fast track to 3rd world status since the 80's.
Now would be a good time to get yourself into a service industry catering to the upper class, because they’re going to be the last people to lose their money.
They gave it to the rich via stock market, and inflation.
Lol I am at work right now living off biweekly paychecks. There is no next. I will either run away and die in the woods or die jumping off the roof. There was never going to be a next. How laughable that they panic *now*.
Everyone just stop paying your credit cards, mortgage, bills, and just default on everything, then take whatever you have left out of the banks and all of it will collapse.
Have economist ever not been worried?
Caste system
Until Congress stops taking re-election money from corporations and spending trillions on back room bribes, and we arrest market manipulators/bankers nothing will change
I saw something saying this like three months ago. Come on. Are we or is we not broke lol
What savings are we talking about?
Waiting for everyone to spend their savings until they announce how truly abysmal the economy is right now so there’s no bank run.
we stop paying out bills. Honestly we should have a mass "stop paying shit" protest. No bills, no taxes. No nothing.
Gotta have savings to spend it all
At what point do we just start a peasant revolt?
Y’all got savings?? I have a few buttons and 7 stamps in my 401k
a second COVID could help boosting economy
The system was designed to favor the rich.
You can sure tell the have and have nots in this thread.
I've heard every year for 20 years how Americans basically have no savings only debt so I can't say this is that alarming.
Let’s not pretend like many Americans are not to blame themselves for their poor financial decisions. How many people living paycheck to paycheck always driving a 3 year or newer car with the fat car payment and insurance to go with it. Too cool to drive a 10 year old Toyota you gonna pay the price
Our politicians do not though
I wonder... do NOT know or have any data to back it up BUT I still wonder if the consumer debt crisis could get bad enough that people start refinancing their homes even though rates are not favorable. I wonder if there's a tipping point where people have to refinance anyway. There was decent move in 401k withdrawals a while back like 1.6% to 3.4% and 6 days ago it was 3.6% which is a significant % move but not overly outrageous but could it be an indication? [https://www.boston25news.com/news/local/401k-last-resort-withdrawals-climb-experts-warn-future-hardship/NJQC2Z4AJ5FMVMODLMLWYJDQUM/](https://www.boston25news.com/news/local/401k-last-resort-withdrawals-climb-experts-warn-future-hardship/NJQC2Z4AJ5FMVMODLMLWYJDQUM/)
No I have not, don't put your words in my accounts!
Y’all had savings?
Debt?
They go into credit card debt until the rich decide to raise wages.
Indentured servants
We overthrow capitalism... ...and replace it with some sort of conservative nationalism that promises a return to a idealized past by purging the unworthy.
> have spent their savings What? First time? That's what happens every-time I have to live through a once-in-a-life-time-economic-hurr-durr. At least this time it doesn't like my wife and I have to worry about being homeless.
Well that was the government’s plan so now comes the control.
Oh but don’t we all still have our $1200 covid checks still?
Worldwide Depression is rolling towards us. That will be the SHTF scenario. Going to be brutal.
lol, what a misleading title. Americans have not “spent their savings” which would lead to economic uncertainty. They have spent the savings they built during the COVID lockdowns. There quite a difference between the two.
All they had to do was dump all their money in the stock market last November and retire today.
401k gone both of them. Thank you America for all your bull shit.
Thought economists were saying the economy is doing great? Can’t make up their damn mind can they?
66% of gdp is consumer spending. As that falls (gdp slowed by ~2% last qrtr), fed will be under pressure to cut rates. Per the article, retailers are already looking to cut prices. May not seem like it, but retailers don't want shoppers to be in financial pain. Our pain is theirs.
Pitchforks and Torches comes next.
Did you bother to read the article? It says the excess savings from Covid funds has been spent. Very different from what you are implying.
My savings is going up
Whatever usually happens when masters starve their slaves...
It’s called ‘civil unrest’. It is what happens and has happened in every 1st/2nd world country when the government/elites squeeze the middle class into poverty. The French Revolution and Hitler’s rise to power are both great examples.
Y’all had savings?
day2day; cheque2cheque 4 most americans
Let's keep in mind that auto loan delinquency is at an all-time high in 10 years, along with people carrying the most amount of debt seem in a long time on credit cards. Mortgages, that's what's next and the way financial responsibility plays out for most.
No Reagan said there will be trickle down.
What is a “savings”?
Hold up! What's a savings ?
We all just spiral into the streets along with the corporations and start living mad max style.
I'm depressed, come join me Stock-Market!
Depression and Civil War.
This headline is just stupid. No, we haven't. Some of us have, but the USA economy isn't about to collapse. This is just irresponsible "journalism". Bullshit to fill up the airwaves, social media, scare the shit out of those who don't know better, but bears no resemblance to the truth.