They are addicted to consuming. They may be making $200k per year but they spend all the money because they are addictited to consuming, ergo "living payecheck to paycheck"
Low-interest rates for over a decade have made big-ticket purchases on assets including real estate more accessible while driving these asset prices through the roof. Massive mortgage payments or rents, unaffordable rates of health care costs, education loans - overall the liveability in the USA for an average earner is rather low by all counts. There needs to be a hard reset somewhere.
By design.
People who live paycheck to paycheck are MUCH easier to control.
They are addicted to consuming. They may be making $200k per year but they spend all the money because they are addictited to consuming, ergo "living payecheck to paycheck"
Low-interest rates for over a decade have made big-ticket purchases on assets including real estate more accessible while driving these asset prices through the roof. Massive mortgage payments or rents, unaffordable rates of health care costs, education loans - overall the liveability in the USA for an average earner is rather low by all counts. There needs to be a hard reset somewhere.