61% Of Americans Are Living Paycheck to Paycheck: Report \ stacker news ~bitcoin

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61% Of Americans Are Living Paycheck to Paycheck: Report watcher.guru/news/61-of-americans-are-living-paycheck-to-paycheck-report

1359 sats \ 16 comments \ @lpop4254 20 Aug 2023 bitcoin

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156 sats \ 9 replies \ @TomK 20 Aug 2023

I am in Germany for some days. The country is crashing faster than I thought would be possible. Lots have reached the state of paralysis, don't go out, trying to readjust their spending meanwhile inflation is spiraling out of control due to erratic politics (end of nuclear energy, fighting the car industry, mass migration into welfare state etc. etc.). It's more than sad to see and feel this atmosphere of decay.

0 sats \ 0 replies \ @clownworld 21 Aug 2023

Weimar problems need Weimar solutions.

0 sats \ 7 replies \ @orthzar 20 Aug 2023

Lots have reached the state of paralysis, don't go out,

I've been thinking that this crash will feel somewhat like 2020 (e.g. temporary bans on evictions, very high unemployment). But I didn't predict that people would engage in voluntary quarantine during this crash, which is what a lot of people did before the lockdowns began in 2020.

Maybe I should make a bingo card that has all the things that happened in 2020. If one of those happened in your country, then you'd mark the square.

30 sats \ 6 replies \ @TomK 20 Aug 2023

When this happens You will find me in the deepest south in a small village on a greek island like in 2020/2021. I physically can't stand this type of ''compliance''

1 sat \ 5 replies \ @orthzar 20 Aug 2023

There isn't a looming boogeyman like COVID, so I don't think there will be anything like lockdowns. However, there will certainly be insane policies and insane compliance.

So, I don't think moving to a sparsely populated location will be enough this time. Nation-states learned a lot of lessons during lockdowns. They will be more competent at enforcing new insane policies in sparsely populated locations.

To be clear, I'm not saying you shouldn't move to a sparsely populated location. Rather, I think it will take more work than that to avoid the next wave of insane policies.

21 sats \ 2 replies \ @TomK 20 Aug 2023

Oh I am following international media as it is my profession and I can clearly say that they are preparing people for the next covid round. In my opinion they will roll out the same playbook with travel restrictions and lockdowns when the debt spiral gets out of control and we have a credit freeze.

1 sat \ 1 reply \ @orthzar 20 Aug 2023

This is the first I'm hearing of this, but I am not surprised. In late 2020, I had warned friends/family that lockdowns would return, but I thought it would be a while longer.

Do you have any clear examples of the media hyping up COVID again? Or are the news stories similar to those in late 2019?

1 sat \ 0 replies \ @TomK 20 Aug 2023

''Eris'' is the new killer variant that's been hyped lately.

Here is something interesting and concerning: https://www.beckershospitalreview.com/infection-control/new-york-hospital-reinstates-mask-mandate-amid-covid-19-uptick.html?s=08#:~:text=Upstate%20University%20Hospital%20in%20Syracuse,according%20to%20local%20news%20outlets

Here a german paper:https://www.fr.de/panorama/masken-comeback-corona-covid-rki-inzidenz-corona-comeback-eris-variante-experten-draengen-auf-92465654.html

10 sats \ 1 reply \ @BitcoinFoqus 21 Aug 2023

The compliance was the most insane part of Covid.

0 sats \ 0 replies \ @TomK 21 Aug 2023

Yes, indeed. But it's so easy putting all responsibility of Your life in the hands of some god-like politicians and their camarilla.

0 sats \ 0 replies \ @BitcoinFoqus 21 Aug 2023

I question surveys like this. How is “paycheck to paycheck” defined? Zero invested assets and zero savings? How were the questions worded? So much twisting of answers happens with surveys.

0 sats \ 0 replies \ @mikhael28 21 Aug 2023

This is nothing new, why is this news?

0 sats \ 3 replies \ @SimpleStacker 20 Aug 2023

IIRC the widely bandied statistic that like 50% of Americans can't afford a $500 emergency is misleading. The survey question asked how would you pay for a $500 emergency and a bunch said "put it on a credit card", which was interpreted as "not enough cash", but a lot of people use credit cards for all kinds of expenses even if they have the cash.

This is a different survey, but I've become highly suspicious of these kinds of headline grabbing statistics

10 sats \ 0 replies \ @netstatic 21 Aug 2023

This study looks like they also made sure the person answering said they regularly run out of money and have to rely on credits cards, etc.

I regularly run out of money and have to rely on credit cards or family for financial support.

https://news.prudential.com/presskits/generational-gap-grows-work-money-outlook-divided-fact-sheet.htm

I'm not sure which survey you're referring to but it looks this one is straightforward at getting to the same conclusion

0 sats \ 0 replies \ @brianh 20 Aug 2023

Hmm I've also heard that the majority of Americans "do not have at least $400 in their savings account". I wonder if that's from the same survey

0 sats \ 0 replies \ @orthwyrm 20 Aug 2023

Makes sense. I get that some people struggle financially, but a majority not being able to "afford" a $500 expense seems unbelievable.