Economy The number 1 wealth killer in America

[F1980]

The US is the only country I can think of that has this issue. Americans are astonishingly stupid with money.

I work with chinese people and if you work with chinese people yourself, you'd know how insanely good they are when it comes to building wealth. they play the short game, but they also play the long, generational wealth building game

and you'd also know how critical they are of Americans when it comes to their spending habits. Americans waste money like nobody's business and no other country is even close

 

[KAZSoliloquy]

the number 1 wealth killer in america is wage theft.

 

[San Marino]

I would put drugs as the #1 killer of wealth in America. Education would probably be #2.
Not all, but a good number of poor people in America have no education and are drug users.

* Also, a good number of people with big houses and expensive cars are deep into debt.

 

[Poon Goon]

Going woke is the answer and it's not even close.

 

[jk7707]

Cars. Because the public transportation system in the US sucks.

 

[nostradumbass]

Yeah, there's a lot of wasteful spending, but cars are definitely a major one because for some reason people who didn't grow up with money splurge on a fancy car as soon as they're able. I've met a good number of crazy rich people, and the richest seem to have shitty old cars.

 

[SummerStriker]

Yeah, there's a lot of wasteful spending, but cars are definitely a major one because for some reason people who didn't grow up with money splurge on a fancy car as soon as they're able. I've met a good number of crazy rich people, and the richest seem to have shitty old cars.

There are Sherdoggers with nicer houses than Warren Buffett.

 

[Spounman]

Going woke is the answer and it's not even close.

 

[Scheme]

Offshoring and global markets

 

[44nutman]

The one thing is hookers and blow

 

[regmma123]

I see many people who live in apartments and drive Audi SUVs, Jaguars, Mercedes Benz and BMWs. I think it's safe to assume they are not prioritizing investing

 

[emefer]

 

[PainIsLIfe]

The US is the only country I can think of that has this issue. Americans are astonishingly stupid with money.

I work with chinese people and if you work with chinese people yourself, you'd know how insanely good they are when it comes to building wealth. they play the short game, but they also play the long, generational wealth building game

and you'd also know how critical they are of Americans when it comes to their spending habits. Americans waste money like nobody's business and no other country is even close

The biggest killer of wealth in the US is credit card debt. Morons put everything a on credit cards at 18-30% interest - and yes, it's often vacations and shopping sprees.

 

[regmma123]

unless you are rich you have to be a special kind of dumb to buy a German luxury car that quickly depreciates and will need very expensive maintenance and repairs (at least in the U.S. that is)

 

[BAM]

Going woke is the answer and it's not even close.

agreed, in her most recent report, Yellen advised there is a direct causal relationship between wokeness and brokeness. She called it the woke-broke curve.

 

[fungi]

Banks...

“You shall not charge interest on loans to your brother, interest on money, interest on food, interest on anything that is lent for interest. You may charge a foreigner* interest, but you may not charge your brother interest, that the Lord your God may bless you in all that you undertake in the land that you are entering to take possession of it.

* - anyone of different faith, a gentile.

 

[tastaylvr]

There are Sherdoggers with nicer houses than Warren Buffett.

look how easy it is for a billionaire to scam the peons lol

you are fucking stupid if you think he stays more than a few days in that house a year

 

[FierceRedBelt]

Lulz this thread is about to be good

 

[Lubaolong]

What percent of your annual income do you suggest one spends on a car? Like if you make $100k, you can buy a $20k car (20%)?

 

[PEDS Help me Post]

Going woke is the answer and it's not even close.

What does that even mean