How American Household Finances are Changing, Because of Republicans

a reply to: ketsuko

The simplest solution to reducing college debt is to remove government from the business of guaranteeing student loans for every student.

I could not agree more, we put way to much of an emphasis on our useless education system here in the US. It's sad that conventional jobs and trade skills are now asking for education as well. Even union companies want you to have x years of experience of x years of schooling before allowing you to apprentice, unless your the boss's kid or cousin.

Perhaps, lending for college ought to be under the condition of a student having the expectation of a program that will have a reasonable expectation of return on investment.

Colleges just won't offer programs that don't have a return on investment if they do that. Which is fine, they should reserve government funded colleges for only the most elite students. I have no problems funding world class art or engineering.

Car loan debt? People need to stop thinking they need the newest and biggest car.

How do you know they are all out there buying new cars? What choice to people have if they can't save money they have no choice but to go in debt for a car.

The ability to save money and the ability to buy a car outright kind of go hand in hand.

Also, buying used cars is a very very risky proposition in today's culture, you can't trust anybody and most people need something reliable for work.

But it's not the government's job to make people economically literate. You cannot save the stupid from themselves.

I totally agree, the government is a major problem.

a reply to: toysforadults

A McMansion is not a "need". I see a lot of people in the "affluent" areas buying way too much house just to give the appearance that they are successful. Those same houses get sold or foreclosed on in less than a year. This happens in Alabama, one of the cheapest places to live in the U.S.

The mortgages on my current home and the starter home I owned before are still less than the average "suburban" home mortgage in my area when put together. People are house broke because they fall into that trap.

If your mortgage or rent is more than 25% of your monthly gross, it's too much.

a reply to: IgnoranceIsntBlisss

NO! You MUST go to college or you're a LOSER!

That's another big problem, our culture is very bad. Moral relativism is killing us.

originally posted by: toysforadults
from the actual data present in the OP most people seem to be spending almost all of their money on things they need to survive and not what you list above

And? Why are you so concerned about what other people do with their money?

originally posted by: cynicalheathen
a reply to: toysforadults

A McMansion is not a "need". I see a lot of people in the "affluent" areas buying way too much house just to give the appearance that they are successful. Those same houses get sold or foreclosed on in less than a year. This happens in Alabama, one of the cheapest places to live in the U.S.

The mortgages on my current home and the starter home I owned before are still less than the average "suburban" home mortgage in my area when put together. People are house broke because they fall into that trap.

If your mortgage or rent is more than 25% of your monthly gross, it's too much.

what your doing is using a talking point as a position rather than providing evidence of your position, if you don't have time to provide the evidence I don't have to actually read your post and formulate a response

originally posted by: toysforadults
a reply to: BELIEVERpriest

You didn't read my thread which is why you have no idea what you're talking about. I just made a hit piece on how the government propaganda about the market is a total lie.

So is your hit piece. In your zeal to blame Republicans you fail to analyze your own data. You've got some very long-term trends there that cross party lines several times. There are "lies, damn lies, and statistics" and your own post is a perfect example of the latter.

originally posted by: AugustusMasonicus

originally posted by: toysforadults
from the actual data present in the OP most people seem to be spending almost all of their money on things they need to survive and not what you list above

And? Why are you so concerned about what other people do with their money?

I couldn't care less I'm responding to someone elses concern about how people spend their money, if you were actually paying attention to the flow of that conversation you would have known that.

a reply to: IgnoranceIsntBlisss

Convince 70 million voters in 2020 and we've got it !!

😎🚬

a reply to: schuyler

So is your hit piece. In your zeal to blame Republicans you fail to analyze your own data. You've got some very long-term trends there that cross party lines several times. There are "lies, damn lies, and statistics" and your own post is a perfect example of the latter.

I didn't blame anybody. You didn't read the OP that's why you think the OP is about the title.

I do that on purpose to set a trap for people who only respond to titles.

a reply to: toysforadults

Never bought a new car in my life.

Every car I've picked up has run well over what it was expected to with minimal major repair work.

It's about research and knowing what you're looking for when you go to see the cars.

a reply to: cynicalheathen

There otta be a law !!

🚬🚪

You guys are to easy, I'll wait for someone to come along who actually has some skill/ brains.

If there is anyone left.

There was a time years ago when we had debt. Right now the only debt I have is the last 60k on my house and it would be foolish to use cash to pay it off when the interest rate is so low.

I think paying cash for everything is the key. I you can’t pay cash then you don’t buy it. I even pay cash for my cars. Besides, the government has enough debt for all of us.

Anyway I would prefer we used a commodity based currency because it would force the government to fix their spending problem.

originally posted by: toysforadults
a reply to: IgnoranceIsntBlisss

NO! You MUST go to college or you're a LOSER!

That's another big problem, our culture is very bad. Moral relativism is killing us.

We MUZT legislate morality !!

🔑✅

a reply to: cynicalheathen

Not all of the people in affluent areas are doing it just to appear wealthy.

Very often, the affluent areas will also have access to the best schools. Many families will make all kinds of sacrifices, including the expensive house, just to try to get their kids the best education they figure they can afford.

It's a trade-off we're looking at potentially having to make ourselves in another four years or so.

originally posted by: Metallicus
There was a time years ago when we had debt. Right now the only debt I have is the last 60k on my house and it would be foolish to use cash to pay it off when the internet rate is so low.

I think paying cash for everything is the key. I you can’t pay cash then you don’t but it. I even pay cash for my cars.

Right we all agree.

But look at the data for the savings rate, people aren't turning to loans because they want to, they are turning to loans because they have to.

I see it in the residential construction market every week. We deal mostly with banks now when it used to be mostly people writing checks.

a reply to: toysforadults

If you want data go study income inequality in the USA the system is failing you because the rich are getting richer and the average Joe's income has gone nowhere for decades,you believe in a system that doesn't even exist capitalism as Ayn Rand described it has not ever been implemented,you are in a giant fiat ponzi scheme that guarantees lower dollar values over time and the rich getting richer and owning all the assets because they are all in hock.

If you live within your means,save and are frugal you still can etch out some semblance of retirement if not then like 2008 if your in a bubble,which I think we are again approaching in California and other places you could be in trouble-again.

originally posted by: toysforadults

I couldn't care less I'm responding to someone elses concern about how people spend their money, if you were actually paying attention to the flow of that conversation you would have known that.

So you cannot answer the question? I know it's a tough one but let's try again. What's it to you what people spend their money on, whether it's necessities or frivolities?

originally posted by: ketsuko
a reply to: cynicalheathen

Not all of the people in affluent areas are doing it just to appear wealthy.

Very often, the affluent areas will also have access to the best schools. Many families will make all kinds of sacrifices, including the expensive house, just to try to get their kids the best education they figure they can afford.

It's a trade-off we're looking at potentially having to make ourselves in another four years or so.

Not to mention crime rates.

People will do anything to escape poverty ridden areas due to high violence and crime. The stats say it's getting better but everyone secretly knows it's getting worse.

originally posted by: AugustusMasonicus

originally posted by: toysforadults

I couldn't care less I'm responding to someone elses concern about how people spend their money, if you were actually paying attention to the flow of that conversation you would have known that.

So you cannot answer the question? I know it's a tough one but let's try again. What's it to you what people spend their money on, whether it's necessities or frivolities?

you're not paying attention, I don't care I was responding to another poster, you're totally clueless