No paywall https://archive.is/hUjVt
sounds like they are spending above thier means. top earners, shouldnt have problems living comfortably at all, seems like they are buying things,eating out all the time.
They should stop putting avocado on toast maybe then they’ll afford a new yacht
crypto is all the craze for some reason, plus the WSB meltdowns on reddit.
This is a rehash of a rehash of that other article somewhere else on the Lemmys from the other day. This huge percentage of people falling behind amounts to a ~.5% increase from 2020->now. POINT FIVE PERCENT from like 5.5% to 6%.
Link closer to source data: https://archive.is/345KW
Also from that link:
NOTES: Delinquency is defined as the share of people having credit card accounts with debt that is 30 days or more past due.
So like, people could have been super distracted because America is dying, or it’s summer and they’re traveling, or the news made them forget, or whatever, and it just happened to make a hiccup that looks scary when put in percent of percent terms.
POINT FIVE PERCENT from like 5.5% to 6%.
Actually that’s called a 0.5 percentage points increase and a 9 percent increase (because 6 ÷ 5.5 = 1.09). The distinction is important, but even the media gets it wrong often.
It’s never been about how much you earn; it’s always been about being willing to live beyond your means.
No, it’s about how much you earn too.
What do I do when a tiny apartment and food is getting beyond my means? The cost of damn near everything fucking tripled in the past 6 years or so, and I got a 7% raise last year.
Most Americans are getting priced out of the market, and it’s only a matter of time that the house of cards our government calls an economy falls.
Be homeless, work harder. /s
Listen, I think I get your point, that even high earners are wage slaves. Doctors and lawyers exit college with decades of debt.
But you can’t say it was never about how much you earn. Some people, and I’ve been in this spot, can’t buy groceries. High earning wage slaves will have decades of debt, but food isn’t an issue.
Bullshit. Last job I had before being layed off years ago was better than most and now two years later. After crushing medical bills, and the increase in EVERYTHING , we have months where food was low.
I spent more time forgaing than shopping the last three months because food is too fucking expensive. I’m glad I grew up even poorer or we would have been in an even worst place for my family. Most don’t though
Thses sweeping statements show the real issue.
Your fighting from the viewpoint that people who worked hard to get even a little out of poverty are at fault
It’s the government and ceos who are. So stop fighting those fighting your same battles.
Live beyond our means. What dumb statement. Food. rent. Every nickel and dime hidden charge from every ducking corp, health insurance, car insurance home insurance, unfair taxation aimed at keeping anyone not mega rich in shackles …
Means. We don’t have means. We have allowances.
Yeah.
Stop that.
People shouldn’t have to worry about that. There’s more than enough for everyone if people weren’t such greedy pigs
Then shame people without knowing their plight.
Ever pay further medical bills of not just your wife and kids but your mom when her medicaid and Medicare wouldnt?
How about instead of shaming people you shut up and listen to the stories. Get your head out of your own bubble and realize g see what’s happening.
This isn’t about living beyond ones means
Its that the corps decide your means and worth.
I think you’ve gone and taken my simple statement exactly backwards.
How much we make is comparative. It’s a fiction imposed by those at the top. By the same people who want the ratio to always be that we spend more than we earn.
But no matter who we are, if we don’t spend more than we earn, we don’t end up in debt to the rich. It’s just that for an increasing proportion of the population, this is becoming impossible.
No, I know what your saying. I stand by what i wrote.
You’re simply out of touch.
Or maybe costs suddenly increased and people had no time to adjust to their new means. “Living beyond your means” is such a dumb phrase in this context. It puts the onus on individuals instead of things like inflation, price gouging, tariffs and costs of living. I guess everyone should be living in one bedroom apartments and eating rice and beans everyday so they live within their means(this is hyperbole). People don’t deserve any luxury just the bare minimum to live and keep working for their overlords.
Trumps
recessiondestruction
