Steve R. Posted April 30 Share Posted April 30 Strangely enough, I have trouble believing this. The general concept of the majority basically living month to month coupled with those of us who are better off not keeping liquid funds - well, that I get. But to think that there isn’t a couple of thousand sitting around in an account (or under a mattress or in a kitty jar) just runs counter to my experience. In over 30 years of work with very low income clients and marginally better off staff (hospital aides, janitorial, etc) I’ve almost always found that they had a month or two of back up funds - in other words, enough that anyone helping them would have to maneuver to get them eligible for significant government assistance. I guess this might be a difference without much of a distinction, especially given the depth of the current crisis. But, for those trying to figure out why civil unrest hasn’t yet hit the fan.... Quote Link to post Share on other sites
voyager Posted April 30 Share Posted April 30 4 minutes ago, Steve R. said: Strangely enough, I have trouble believing this. The general concept of the majority basically living month to month coupled with those of us who are better off not keeping liquid funds - well, that I get. But to think that there isn’t a couple of thousand sitting around in an account (or under a mattress or in a kitty jar) just runs counter to my experience. In over 30 years of work with very low income clients and marginally better off staff (hospital aides, janitorial, etc) I’ve almost always found that they had a month or two of back up funds - in other words, enough that anyone helping them would have to maneuver to get them eligible for significant government assistance. I guess this might be a difference without much of a distinction, especially given the depth of the current crisis. But, for those trying to figure out why civil unrest hasn’t yet hit the fan.... I don't agree with you. An entire generation is out there with no immediate or parental experience with the depression or even severe hard times. Good paying jobs, expensive rent, enticing entertainment (bars, restaurants, sports), an aversion to making their own morning coffee. Even a good salary doesn't go far today if one is inclined to spend it. Consider credit card debt. If these people had a stash, would they continue to pay exorbitant interest to support their "experiences"? Quote Link to post Share on other sites
Steve R. Posted April 30 Share Posted April 30 We may not actually be much apart. The ability to run a credit card debt or a checking overdraft IS part of liquid funds to be used during this period. It’s when those are maxed out that desperation hits. eta: sorry. I just realized that Bonner, Joe & Voyager might be specifically referring to $1000 in an account & not just $1000+ in available liquid assets. To that, I don’t really disagree (or know enough to). Quote Link to post Share on other sites
Adrian Posted April 30 Share Posted April 30 5 hours ago, voyager said: I don't agree with you. An entire generation is out there with no immediate or parental experience with the depression or even severe hard times. Good paying jobs, expensive rent, enticing entertainment (bars, restaurants, sports), an aversion to making their own morning coffee. Even a good salary doesn't go far today if one is inclined to spend it. Consider credit card debt. If these people had a stash, would they continue to pay exorbitant interest to support their "experiences"? Yes, the baby boomers. Quote Link to post Share on other sites
Anthony Bonner Posted April 30 Share Posted April 30 Boom! Roasted. Quote Link to post Share on other sites
joethefoodie Posted May 1 Author Share Posted May 1 I love making my own morning coffee. We have no credit card debt. Our rent is cheap. We have a stash. Baby boomer indeed. 1 1 Quote Link to post Share on other sites
voyager Posted May 1 Share Posted May 1 1 hour ago, joethefoodie said: I love making my own morning coffee. We have no credit card debt. Our rent is cheap. We have a stash. Baby boomer indeed. Chapter and verse. And the end result is living pretty well. 1 Quote Link to post Share on other sites
Anthony Bonner Posted May 1 Share Posted May 1 #notallboomers 2 Quote Link to post Share on other sites
joethefoodie Posted May 1 Author Share Posted May 1 I think where many baby boomers fell into a problem was in not realizing how long they'd have to support their kids. Quote Link to post Share on other sites
Anthony Bonner Posted May 1 Share Posted May 1 That'll tend to be what happens when you destroy the global economy Quote Link to post Share on other sites
joethefoodie Posted May 1 Author Share Posted May 1 1 hour ago, Anthony Bonner said: That'll tend to be what happens when you destroy the global economy The global economy has been getting destroyed since Caesar's time. Quote Link to post Share on other sites
Anthony Bonner Posted May 1 Share Posted May 1 3 minutes ago, joethefoodie said: The global economy has been getting destroyed since Caesar's time. and people have been calling the generation younger than them lazy since Gilgamesh's time. Quote Link to post Share on other sites
joethefoodie Posted May 1 Author Share Posted May 1 The only people my parents called lazy were me. But they were lucky cause I'd worked since I was 14, and moved out when I went away to college! Quote Link to post Share on other sites
hollywood Posted May 1 Share Posted May 1 19 hours ago, Adrian said: Yes, the baby boomers. Strangely, I can recall a time when credit card interest was deductible. 1 Quote Link to post Share on other sites
Sneakeater Posted May 4 Share Posted May 4 Eater decries a culture it helped create and actively perpetuates. Fuck you. Just fuck fucking fuck you. Quote Link to post Share on other sites
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