Sad commentary on the American way of life

[Anonymous]

Anonymous wrote:Unions!

And yes, people should reject consumerism. It’s stupid. But unions are a way to fix lots of problems.

I refuse to buy cheap crap from China.

[Anonymous]

Anonymous wrote:

Anonymous wrote:
Do you guys know how much housing and childcare cost around here?

I'm the person who posted in the furlough thread about feeling stupid for. buying 3 pieces of furniture. For context, my living room has had literally only seating i have scavenged from the curb for free for the last 2.5 years. Finally I got tired of living off other people's trash and spent $300 on a used coffee table and 2 chairs. Replacing the trash couch is still too expensive, that will wait. And i still don't have curtains, just cheap blinds.

Meanwhile, I have spent $1500/month on day care during this period, and until I got a federal job this spring i was spending $900/month for family health insurance. But you really think it's consumerism that holds people back from saving? How deeply out of touch and moralistic.



YES!!! I couldn't agree more. It is the BASIC necessities that eat up our income: rent or mortgages, health care costs (mine is $1500/mo), child care, higher education, and retirement savings.

Just think: a generation ago, when baby boomers were young professionals, companies PAID for employee retirement. they PAID for health care. rent/mortgages were in-line with incomes.

Gas, clothes and food were more expensive but those were things you could control.

I know plenty of boomers who don't have pensions paid for by companies (granted I am a 60 year old boomer so a "younger" boomer). I also think you have to realize that health care was much more basic back then. There was no physical therapy for every sprain, no MRIs, no chemotherapy, etc., etc. The range of therapies that exist now is incredible (and great FWIW), but expensive.

NP - pp noted that a generation, young boomers had pensions....not that many folks still have them today. Maybe your job never had one, but many did. Both of my parents’ private sector careers started out with jobs with pensions. Both of those pensions were eventually eliminated, but of course my parents didn’t know that was going to happen and weren’t putting away 10% of their income into 401ks early on (obviously, since 401ks didn’t even exist back then). However, chemotherapy DID exist And was becoming much more common by the late 60s/early 70s

[Anonymous]

I think circumstances of single parents and low earners are truly different from professionals in decent jobs. We have a guy in our office who makes about 80k, his wife makes about 60k, so collectively they are good at 140k (I know about the wife because he shared), they live in PG county do their mortgage is reasonable BUT he has one Mercedes S 500 and one top of the line Chrysler SUV, his wife regularly posts pics of her Louis Vuitton’s etc, I am amazed and shocked at their decision making. There are plenty out there like this couple, no concept of savings or investing, just about every penny is spent in trying to LOOK rich.

[Anonymous]

Not surprised. Even Billionaires declare bankruptsy instead of paying taxes and creditors. And they serve junk food to athletes.

[Anonymous]

Anonymous wrote:Well that sounds like 2007 all over again. And yet somehow holiday retail sales were record high?? I just don’t get what people are thinking.

on borrowed money, i.e. credit cards. (I don't get what people are thinking either).

[Anonymous]

Anonymous wrote:Go read the thread in off topic asking what people are cutting back on because of the furlough. There are people referencing Gucci and Prada bags, going out to eat, minimizing target runs, travel, etc. But everyone is keeping their cleaning service.

The bottom line is that many mc/UMC families are living above their means. And that is very different from low-income people or single parents living paycheck to paycheck. Mc/UMC people are making a choice by not saving.

Travel is another area where people live above their means. If you have to put it on a credit card and can't pay for it up front, then you shouldn't take such an expensive trip. Most people save up for a big trip. The over spenders can't save because they blow any money they have access to.

Uh, that’s a DCUM thread. The respondents don’t represent the US population as a whole (the vast majority of whom do not have cleaning services, furlough or no furlough).