Am I living in a bubble?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I live in McLean and things are humming here. Starbucks is always crowded, and the butcher always has lines. It’s like the furlough, economy downturn, and the tough job market doesn’t seem to impact people who live in McLean. People still send their kids to private tutoring, and there is a waiting list. Crazy times…

People with money are still spending. Think about it, if you’re at Starbucks you’re seeing people at Starbucks. The ones without are at home.

Since when did Starbucks become a symbol of wealth? I see my mail carrier at the neighborhood Starbucks every morning. You are either a troll or idiot op.

Anyone spending $7 on a cup of 10cent coffee is either rich or stupid. Either way.

I'm rich (just being honest), drink lots of coffee, and used to go to Starbucks regularly. No longer - the prices just don't make sense! Sorry, i'm not going to pay $5+ for a drip coffee.

[Anonymous]

Yes, you live in the McLean bubble. In this current economy, the rich are getting richer, while the poor are getting poorer. And soon there will be no more middle class.

[Anonymous]

Anonymous wrote:No one with old money is buying anything right now. We get it you don’t .

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If you kept up with economic data, you'd see that the wealthy continue to spend like there's not tomorrow, and the poor are struggling under inflation and job loss.

So yes, your eyes are not lying to you. You are in a bubble. Please be considerate of others outside of it.

This is, unironically, why Trump won. Rich people see stocks go up and think the world is humming along like it's supposed poor people can't afford rent or groceries and Trump sold them a dream. And I'm saying this as a liberal. We just don't get it.

The poor waits for government to hand out and the rich invests in stock market.

The stock market that is subsidized - and manipulated- by the government. And yet its the poor with their hand out....

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I live in McLean and things are humming here. Starbucks is always crowded, and the butcher always has lines. It’s like the furlough, economy downturn, and the tough job market doesn’t seem to impact people who live in McLean. People still send their kids to private tutoring, and there is a waiting list. Crazy times…

People with money are still spending. Think about it, if you’re at Starbucks you’re seeing people at Starbucks. The ones without are at home.

Since when did Starbucks become a symbol of wealth? I see my mail carrier at the neighborhood Starbucks every morning. You are either a troll or idiot op.

Anyone spending $7 on a cup of 10cent coffee is either rich or stupid. Either way.

I'm rich (just being honest), drink lots of coffee, and used to go to Starbucks regularly. No longer - the prices just don't make sense! Sorry, i'm not going to pay $5+ for a drip coffee.

Well I never got into the getting coffee out daily, but now it's ridiculous. I can make 1000x better coffee at home (recently roasted beans, freshly ground, good equipment) and I live in a city with 10+ coffee shops within 2 blocks in any direction. I'm not wasting time (and putting on clothing in the AM versus lounging around in my PJs) to stand in line to get coffee.

And yes it's the little things that save. I have what would cost over $15/day and spouse has similar. So $30 versus what costs us maybe $3-4. The equipment lasts forever, so it's long paid off

[Anonymous]

Starbucks and rich…c’ mon you a naive one op!

[Anonymous]

Anonymous wrote:Yes, you live in the McLean bubble. In this current economy, the rich are getting richer, while the poor are getting poorer. And soon there will be no more middle class.

I would amend this slightly. In this economy the "rich" -- whatever that means are doing quite well. What that really means is that people with are UC, UMC, and much and MC are doing quite well. Who are not doing well is the other half of the MC and much but not all of LMC and poor. It is quite uneven. People want to make a big deal about rich vs poor but it is more complicated than that. Doing well or fine is probably 60-70% of all people. That is why commerce is humming. There are plenty of people making and spending. There are people hurting. But most are not. And it could be that the numbers hurting will expand. It is not a completely healthy economy but at the moment it looks like it will keep going as it has been for at least the medium term.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My husband and I have not been affected financially since our fields (non-fed) are not usually impacted when things like this happen. We are more comfortable than we’ve ever been, actually. I got a raise last month.

But it’s affecting other people around us, coworkers, strangers, friends, and family. And we can’t be 100% certain that our jobs are safe with the current administration. Recent changes at my job in response to current events have doubled my responsibilities, and they’re certainly not hiring anytime soon.

With just….everything….that’s going on, it would be difficult to feel insulated unless I never went outside. Even silly little things, like how the hair salon was almost empty on a Saturday afternoon, remind you of this. I used to sell paintings and custom invitations but stopped earlier this year because people in my neighborhood don’t have money for those things now. Granted, I don’t live in McLean, but still.

This is just blatantly false. We’ve all been affected by these prices, including the wealthiest among us. There was an article in fortune about the wealthy flying overseas to buy cheaper, non-tariffed goods. It’s a lie.

You may not feel a squeeze, but if you buy coffee, electricity, a car, groceries…you’re affected.

We have been impacted by inflation no doubt but many people and not just a few are doing great. And no the idea of people going to Europe for cheaper goods is just false or it is stupid people. Tarriffs have only had very limited impact to date. That could change but it has not been a real issue yet.

[Anonymous]

Anonymous wrote:Yes, you live in the McLean bubble. In this current economy, the rich are getting richer, while the poor are getting poorer. And soon there will be no more middle class.

This is correct.

[Anonymous]

I'm not rich but sometimes go and splurge on a $5 coffee at Starbucks so I can sit in there and work for a couple hours. I don't do it for the coffee (which is mediocre), it's a way for me to use a coworking space with comfortable seating and reliable wifi for a couple hours without having to pay for we work.

I don't think of Starbucks as being for rich people. I assume wealthy people have nicer coffee at home or an assistant or housekeeper to make it for them or have quit coffee thanks to the diligent guidance of their personal trainer and nutritionist. I think of Starbucks as an overpriced but still affordable splurge for middle class professionals like myself who need little stuff like this to get through the day.

If I were furloughed I'd obviously take a break for the Starbucks unless my spouse had a really big income and money didn't matter to us.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I live in McLean and things are humming here. Starbucks is always crowded, and the butcher always has lines. It’s like the furlough, economy downturn, and the tough job market doesn’t seem to impact people who live in McLean. People still send their kids to private tutoring, and there is a waiting list. Crazy times…

I don’t even live in “McLean”. I live in plain old Sterling and the same is true here. DH and I remark on it all the time. Not just this downturn but any time there is a recession, early COVID, etc. ‘09 crisis, etc. never affects anyone near us.

Yes, everything is still packed, Tyson’s mall is busy. I went to Cox farms and it was sold out charging $40 per ticket. This is not to say that there are no people struggling, but many in this area are doing okay or just in denial.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I live in McLean and things are humming here. Starbucks is always crowded, and the butcher always has lines. It’s like the furlough, economy downturn, and the tough job market doesn’t seem to impact people who live in McLean. People still send their kids to private tutoring, and there is a waiting list. Crazy times…

I don’t even live in “McLean”. I live in plain old Sterling and the same is true here. DH and I remark on it all the time. Not just this downturn but any time there is a recession, early COVID, etc. ‘09 crisis, etc. never affects anyone near us.

Yes, everything is still packed, Tyson’s mall is busy. I went to Cox farms and it was sold out charging $40 per ticket. This is not to say that there are no people struggling, but many in this area are doing okay or just in denial.

Even during a severe recession like 2008, most people are not struggling. The unemployment rate peaked at something like 10%, which means that 90% of people still had a job.

[Anonymous]

Anonymous wrote:No one with old money is buying anything right now. We get it you don’t .

Okay, grandma. This just isn’t true. “Old money” is often more understated the “new money” - but they still spend plenty of money and have not adjusted their spending due to the economy. Unless you are poor “old money.”

I am involved in charitable organizations here and Martha’s Vineyard, no one is tightening their purse strings. Why? Because the stock market is continuing to make them rich. Hope you got a little rush from your condescending and uniformed opinion.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I live in McLean and things are humming here. Starbucks is always crowded, and the butcher always has lines. It’s like the furlough, economy downturn, and the tough job market doesn’t seem to impact people who live in McLean. People still send their kids to private tutoring, and there is a waiting list. Crazy times…

I don’t even live in “McLean”. I live in plain old Sterling and the same is true here. DH and I remark on it all the time. Not just this downturn but any time there is a recession, early COVID, etc. ‘09 crisis, etc. never affects anyone near us.

Yes, everything is still packed, Tyson’s mall is busy. I went to Cox farms and it was sold out charging $40 per ticket. This is not to say that there are no people struggling, but many in this area are doing okay or just in denial.

This. Most people are doing quite well. Not just the rich. A large group is not doing well. That is the issue to figure out -- how do you get more people on the plus side.

[Anonymous]

I think people are changing where they spend their money. The real estate market has definitely slowed down, and consumer spending is either flat or declining depending on category. I don’t see as many homes under renovation in my neighborhood, or new cars. Retailers are not feeling good about this Christmas and that includes luxury retailers.

We’re fortunate enough to not have our income affected yet. For my own personal spending we’ve cut back on goods and are cooking more at home, and have canceled planned renovations, but we are still spending on family experiences like travel and Cox Farms. Even stepped up fitness spending, more of an escape from daily life and a guard against a healthcare hellscape than anything else.