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10 sats \ 4 replies \ @SimpleStacker 29 May \ parent \ on: 55% of Americans have three months of emergency savings econ
As in, it's more than you thought?
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We're always hearing doom & gloom about the state of the American consumer, but I've always been suspicious of the doom porn. I remember some statistic that was widely thrown around saying half of Americans couldn't afford a $400 emergency, but it was based on a survey that asked how Americans would pay for a $400 emergency, and less than half said "with cash". But one of the answers was "credit card", which is how most financially well-off people would do it, they just pay off their cards every month.
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Most Americans are levered up with debt. But, relatively speaking most Americans are rich compared to most of the people on the planet. It all depends on how you measure things and the definitions being used.
We in the US get the benefit of cheap debt and the goods and services it produces. The rest of the world doesn't really. They just get monetary inflation.
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more than I thought.
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