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moistmoistMOISTTT t1_iydddg5 wrote

Reply to comment by [deleted] in The US economy's growth was stronger than expected in the third quarter | CNN Business by CCJones56

Just because you're poor doesn't mean the rest of us are poor. Anyone with a house (which is a huge chunk of the US) hasn't seen that much of a hit given how easy it is to find higher paying (and sometimes remote) jobs right now, not to mention the stock market rocketing up since covid.

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WTD_Ducks21 t1_iydttm4 wrote

60% of this country doesn't have $500 in their checking account and prices for goods are up over 15% (even higher for energy/food) the last 2 years. It is fair to assume that the majority of America is poor and it is baffling how consumers are still spending at high levels. It makes more sense when you look at personal savings rates tanking and credit utilization sky rocketing.

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Lezzles t1_iydumif wrote

Those "$500 in checking account" articles are bullshit. They literally ask about your checking account - if you transfer money to a savings account at the end of the month instead, you're in the "at risk" party.

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Walken_Shoebaru t1_iyevfmk wrote

So if they ask about savings accounts is it bullshit too to the people who keep their money in checking?

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Lezzles t1_iyevsrr wrote

Yes, actually. You should just ask "if you had a $500 expense come up, could you afford it, or would it financially ruin you?" basically.

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Walken_Shoebaru t1_iyexbwf wrote

yeah that's what the question is, the original person misquoted.

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