Thread: New study says 64% of Americans have less than $1,000 in the bank

This is a scary statistic and we are a 2/3 consumer-driven economy, consider that for a moment too.

Sue

but didnt the President say, go out, spend your money. You mean thats not a good plan?

Well the system doesn't really reward savers, only spenders, in fact it ruins savers (with inflation).

With "healthcare" "insurance" they don't have to spend their savings in a health emergency (or so they think), so of course they spend it all (a lot of them don't have much left if anything after the costs each month).

Having them dependent on the job to pay off their lifestyle and commitments makes people just a tee bit more controllable as well.

People respond to punishment and incentives - at least the ones up till now.

Yeah but you can be sure that that household has an iPad an iPhone and a Macbook.

Total lack of discipline and total disregard to your financial path.

Better start working on your Walmart greeting.

That is sad to me.

But seeing as how 48% get govt assistance that figure shouldn't be too much of a surprise I guess.