Economy For Most Americans, Real Inflation Rate At 20 Percent

[ineverpost]

Imagine how bad it would be under Drumpf though.

he'd be sending check after check, meanwhile bread would cost $20 p/loaf

 

[Riot Punch]

Biden’s puppeteers have it under control guys.

 

[MeatheadMike]

The average American savings account balance is $62K (down 15% from last year). That image in the OP says its from a 2019 survey.

https://www.marketwatch.com/picks/h...ght-feel-inadequate-in-comparison-01646168736
https://www.cnbc.com/2022/05/21/ame...ects of,recent 2022 Planning & Progress study.

 

[Richmma80]

At least we don't have mean tweets

 

[Orgasmo]

Hopefully it becomes 200% I want everything to double in value

Pretty sure it's sarcasm but can't be certain.

The average American savings account balance is $62K (down 15% from last year). That image in the OP says its from a 2019 survey.

https://www.marketwatch.com/picks/h...ght-feel-inadequate-in-comparison-01646168736
https://www.cnbc.com/2022/05/21/americans-now-have-an-average-of-9000-dollars-less-in-savings-than-in-2021.html#:~:text=The ongoing economic effects of,recent 2022 Planning & Progress study.

That's average as in mean, which gives a skewed figure by including wealthier population. Look at median savings for a better picture.

 

[Yehudim]

China makes most of what your house is made of. The OSB board, roofing materials, faucets, toilets and so on.

Everything is a derivative of oil. Like food is made and transported with oil fertilizer and oil ran tractors and oil ran tractor trailers. Maybe if Biden didnt sanction half the world that would be cheap too.

It's all political mistakes that have us in this pickle.

It's ok though hes making a recession - just make money sparse QT and they come down because no one can afford for or energy.

I would say the main issue is bad housing policy, we had terrible housing prices before we sanctioned China.

Yeah, now we probably can’t even build houses if we wanted because of the prices of materials is high but that was a long running political error that can’t be solved in the short term with lifting sanctions

 

[Snowblindlove]

Pretty sure it's sarcasm but can't be certain.

That's average as in mean, which gives a skewed figure by including wealthier population. Look at median savings for a better picture.

It is not. I benefit as does mankind if it doubles. Some people will hurt but its part of the greater good. From chaos comes order

 

[Scheme]

This shit can't be good.

Americans face 20% inflation for essentials - Asia Times

Savings accounts are a bad measure of wealth, since keeping money in savings is basically losing money especially with high inflation. I only keep like $25K in my savings account, I have a lot more money invested.

 

[MeatheadMike]

Pretty sure it's sarcasm but can't be certain.

That's average as in mean, which gives a skewed figure by including wealthier population. Look at median savings for a better picture.

I get what you mean that the wealthy people with savings will bring up the entire average, but at the same time wealthy people have most of their wealth in investments, not cash. It would be interesting to see a breakdown by income in 2022... but again this graphic also says from 2019 survey

 

[Zazen]

You honestly should never have more than a 6-12 month emergency fund in savings anyway.

I imagine for most that’s 20-50k. Anything above that is wasteful.

What? How so? The more the better. I don't understand. Unless you mean investing in something

 

[Zazen]

Unless you are trying to buy a house. I imagine people who missed the boat are pretty fuckity fucked right now.

I bought a house while the prices were skyrocketing and interest rates were low. Everyone was telling us how insane we were to overpay several thousand dollars but both my wife and I went against their words. We both think shit isn't getting better anytime soon and now that the rates are going up still alongside home prices we're both glad we made our decision to buy late last year.

 

[Rob Battisti]

What? How so? The more the better. I don't understand. Unless you mean investing in something

Savings should literally only be to cover your ass in the event of an emergency. Keeping more than an emergency fund in an account that doesn’t earn just means your money disappears with inflation.

6 months is fine, some like 12 months — anything more just means you’re losing money for no reason.

 

[nostradumbass]

Yup just like they changed the definition of a vaccine. If something isn't going right they just change the definition to fit the agenda.

They change the definition of woman ffs depending on whether they're trying to manipulate their base on trannies or abortions and you thought there was a chance they'd keep a consistent standard when it comes to how badly they're trashing the economy? They're going to need a shitload more drop boxes for this election.

 

[sherdogwantedtonamemekiki]

Savings should literally only be to cover your ass in the event of an emergency. Keeping more than an emergency fund in an account that doesn’t earn just means your money disappears with inflation.

6 months is fine, some like 12 months — anything more just means you’re losing money for no reason.

Why? What if you have unexpected emergency expenses? Like needing a new water heater or medical bills?

 

[HOLA]

He's going to need to write an article longer than 3 sentences if he'd like to prove his point.

 

[Rob Battisti]

Why? What if you have unexpected emergency expenses? Like needing a new water heater or medical bills?

Emergency fund. Calculate 6-12 months and there is your number. Thats what I said to do.

 

[sherdogwantedtonamemekiki]

Emergency fund. Calculate 6-12 months and there is your number. Thats what I said to do.

How do you calculate? I would assume you would take into consideration all your typical monthly expenses and multiply that by 6-12. Then maybe multiply that by 10%?

 

[MoparOrNoCar]

People that aren't able to save anything are interesting to me. I mean what are the odds that their bills and their income are exactly the same every month for their entire lives?

Surely it can't be because they have a spending problem.

 

[Rob Battisti]

How do you calculate? I would assume you would take into consideration all your typical monthly expenses and multiply that by 6-12. Then maybe multiply that by 10%?

That’s basically what I do.

Do you keep a monthly budget?

I look at everything I must pay in a year. Add 10% and divide by 12.

I only keep 6 months of an emergency fund.

 

[SandisLL]

I think for TS better will be immediately relocate to Russia.
Apply for economic reasons and ask to issue Russia's passport if he already doesn't have this one.
Then everything will be like river with milk and coasts with honey.
High income each month. Low tax. Cheap fuel. Freedom to post in internet and so on of course....