Pandemic Wiped Out Entire Savings Of 20% Of US Households | |
habshire
User ID: 81004476 Italy 10/14/2021 04:52 PM Report Abusive Post Report Copyright Violation | 80% savings will go due to inflation and loss of power of the Dollar 2022 will be a reckoning year Last Edited by habshire on 10/14/2021 04:52 PM |
Anonymous Coward User ID: 80713689 United States 10/14/2021 04:55 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 73693710 Bahamas 10/14/2021 05:01 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 32577701 United States 10/14/2021 05:05 PM Report Abusive Post Report Copyright Violation | Yep, it's much, much worse than anyone will admit. Nobody ever admits they're having money problems in America... everyone is a fucking trillionaire! I can see how hard they all work. The stores and roads a packed 24/7... nobody fucking works anymore. Question is, when is the reckoning coming? |
Don Draper from Nantucket
(OP) User ID: 80692948 United States 10/14/2021 05:06 PM Report Abusive Post Report Copyright Violation | |
Don Draper from Nantucket
(OP) User ID: 80692948 United States 10/14/2021 05:09 PM Report Abusive Post Report Copyright Violation | Yep, it's much, much worse than anyone will admit. Nobody ever admits they're having money problems in America... everyone is a fucking trillionaire! Quoting: Anonymous Coward 32577701 I can see how hard they all work. The stores and roads a packed 24/7... nobody fucking works anymore. Question is, when is the reckoning coming? When the food shortages and electricity and internet brownouts begin would be my guess, but in reality there are so many fuses sitting around right now ready to be lit, it really is anyone's guess! Last Edited by Don Of N*******t on 10/14/2021 05:09 PM PLATA BITCHEZZZZZZ UPGRADE UNAVAILABLE The Rolling Stones said it best... "What's confusing you is the nature of my game" |
Anonymous Coward User ID: 81001571 Canada 10/14/2021 05:09 PM Report Abusive Post Report Copyright Violation | |
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Anonymous Coward User ID: 79207137 United States 10/14/2021 05:14 PM Report Abusive Post Report Copyright Violation | [link to www.zerohedge.com (secure)] Quoting: Don Draper from Nantucket Over the weekend, we showed a staggering wealth distribution statistic cementing the US status as a banana republic: according to Fed data which breaks down the distribution of wealth according to income quintile (or 20% bucket) the middle 60% of US households by income saw their combined assets drop from 26.7% to 26.6% of national wealth as of June, the lowest in Federal Reserve data, while for the first time the super rich had a bigger share, at 27% While especially true for the top 1%, it is all the rich that have benefited from the Fed's generous liquidity pump at the expense of the extinction of the US middle class - as the next chart shows, over the past 30 years, 10 percentage points of American wealth has shifted to the top 20% of earners, who now hold 70% of the total. The bottom 80% are left with less than 30%. But while we have extensively discussed the destructive impact of the Fed on the middle class - while enriching the top 1% - a view espoused recently by Stan Druckenmiller who in May called the Fed the single "greatest engine of wealth inequality" in history (to which we would also add the end of the gold standard under Nixon), some have asked what about the sub-middle class? After all one can argue (correctly) that the swing voter in the US is not in the top 1%, but rather in the bottom 50%. Well, as we previously pointed out, the bottom 50% own just 2% of all net worth, or a paltry $2.8 trillion. What is even more sad is that the wealth of the bottom 50% is virtually unchanged since 2006, while the net worth of the Top 1% has risen by 132% from $17.9 trillion to $41.5 trillion. This wont end well not for the 1% it won't, ut's not going to end well for them. |
Agent 99
User ID: 77082640 United States 10/14/2021 05:16 PM Report Abusive Post Report Copyright Violation | |
Don Draper from Nantucket
(OP) User ID: 80692948 United States 10/14/2021 05:17 PM Report Abusive Post Report Copyright Violation | How are you guys enjoying our transfer of wealth? Quoting: Anonymous Coward 81001571 We forgot to mention that it's YOUR wealth we're transferring to the 1% of the 1% Yep wealth doesn't disappear it simply changes hands! PLATA BITCHEZZZZZZ UPGRADE UNAVAILABLE The Rolling Stones said it best... "What's confusing you is the nature of my game" |
KuvaszLove
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Don Draper from Nantucket
(OP) User ID: 80692948 United States 10/14/2021 05:18 PM Report Abusive Post Report Copyright Violation | It cost me $25k. And that was my "coins in the couch cushions" money, not my actual savings. Quoting: Agent 99 Considering most people live check to check with no savings at all I would consider you one of the fortunate ones! PLATA BITCHEZZZZZZ UPGRADE UNAVAILABLE The Rolling Stones said it best... "What's confusing you is the nature of my game" |
American Poet
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Anonymous Coward User ID: 77201727 United States 10/14/2021 05:22 PM Report Abusive Post Report Copyright Violation | [link to advisorsmith.com (secure)] So if 20% of Americans lost their life savings, how much is that" Like $500? Boo fucking hoo. |
Anonymous Coward User ID: 81004690 Mexico 10/14/2021 05:22 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 80667803 United States 10/14/2021 05:25 PM Report Abusive Post Report Copyright Violation | |
Coy
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Anonymous Coward User ID: 80713689 United States 10/14/2021 05:27 PM Report Abusive Post Report Copyright Violation | |
Agent 99
User ID: 77082640 United States 10/14/2021 05:27 PM Report Abusive Post Report Copyright Violation | It cost me $25k. And that was my "coins in the couch cushions" money, not my actual savings. Quoting: Agent 99 Considering most people live check to check with no savings at all I would consider you one of the fortunate ones! Yes, I am grateful for my good fortune. My stepmom was in East Germany in 1940's so she taught me about what's about to unfold and how to prepare. History repeats. Our ancestors gave us the information. Many people dismissed that important communication! Lots of people are unplanned for poverty. There will be lots of orphans. Last Edited by Agent 99 on 10/14/2021 05:29 PM |
Agent 99
User ID: 77082640 United States 10/14/2021 05:29 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 79751930 France 10/14/2021 05:31 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 76349271 United States 10/14/2021 05:32 PM Report Abusive Post Report Copyright Violation | How are you guys enjoying our transfer of wealth? Quoting: Anonymous Coward 81001571 We forgot to mention that it's YOUR wealth we're transferring to the 1% of the 1% [imgur] [link to imgur.com (secure)] |
Anonymous Coward User ID: 79115629 United States 10/14/2021 05:37 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 79751930 France 10/14/2021 05:39 PM Report Abusive Post Report Copyright Violation | It cost me $25k. And that was my "coins in the couch cushions" money, not my actual savings. Quoting: Agent 99 Considering most people live check to check with no savings at all I would consider you one of the fortunate ones! Yes, I am grateful for my good fortune. My stepmom was in East Germany in 1940's so she taught me about what's about to unfold and how to prepare. History repeats. Our ancestors gave us the information. Many people dismissed that important communication! Lots of people are unplanned for poverty. There will be lots of orphans. :hillary2: |
Anonymous Coward User ID: 80713689 United States 10/14/2021 05:45 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 79231902 Canada 10/14/2021 05:46 PM Report Abusive Post Report Copyright Violation | It cost me $25k. And that was my "coins in the couch cushions" money, not my actual savings. Quoting: Agent 99 Considering most people live check to check with no savings at all I would consider you one of the fortunate ones! Yes, I am grateful for my good fortune. My stepmom was in East Germany in 1940's so she taught me about what's about to unfold and how to prepare. History repeats. Our ancestors gave us the information. Many people dismissed that important communication! Lots of people are unplanned for poverty. There will be lots of orphans. I have always been one to question history so at a young I knew something was wrong between what was being said and what was real history. Real history is not free, it never gets spoon feed to you, it cost time and money. From what I have pieced together, war, faminie, disease, corrupt of morals are the weapons they like to resort to when sheep are sheep no more. You are very lucky to have someone who made sure your eyes were open at an early age. |
Agent 99
User ID: 77082640 United States 10/14/2021 06:13 PM Report Abusive Post Report Copyright Violation | It cost me $25k. And that was my "coins in the couch cushions" money, not my actual savings. Quoting: Agent 99 Considering most people live check to check with no savings at all I would consider you one of the fortunate ones! Yes, I am grateful for my good fortune. My stepmom was in East Germany in 1940's so she taught me about what's about to unfold and how to prepare. History repeats. Our ancestors gave us the information. Many people dismissed that important communication! Lots of people are unplanned for poverty. There will be lots of orphans. I have always been one to question history so at a young I knew something was wrong between what was being said and what was real history. Real history is not free, it never gets spoon feed to you, it cost time and money. From what I have pieced together, war, faminie, disease, corrupt of morals are the weapons they like to resort to when sheep are sheep no more. You are very lucky to have someone who made sure your eyes were open at an early age. Yep, I count my blessings. My stepmom took me to Europe when I was 12 so I could see the world and understand it. Very valuable lessons. Disease first, all wars start with a plague, then progress to battlefield warfare, then famine. This enemy coming for us is brutal, and there will be nukes used. In the next 10 years there will be lots of struggle. |
Mason Firefly
User ID: 79925043 United States 10/14/2021 06:18 PM Report Abusive Post Report Copyright Violation | [link to www.zerohedge.com (secure)] Quoting: Don Draper from Nantucket Over the weekend, we showed a staggering wealth distribution statistic cementing the US status as a banana republic: according to Fed data which breaks down the distribution of wealth according to income quintile (or 20% bucket) the middle 60% of US households by income saw their combined assets drop from 26.7% to 26.6% of national wealth as of June, the lowest in Federal Reserve data, while for the first time the super rich had a bigger share, at 27% While especially true for the top 1%, it is all the rich that have benefited from the Fed's generous liquidity pump at the expense of the extinction of the US middle class - as the next chart shows, over the past 30 years, 10 percentage points of American wealth has shifted to the top 20% of earners, who now hold 70% of the total. The bottom 80% are left with less than 30%. But while we have extensively discussed the destructive impact of the Fed on the middle class - while enriching the top 1% - a view espoused recently by Stan Druckenmiller who in May called the Fed the single "greatest engine of wealth inequality" in history (to which we would also add the end of the gold standard under Nixon), some have asked what about the sub-middle class? After all one can argue (correctly) that the swing voter in the US is not in the top 1%, but rather in the bottom 50%. Well, as we previously pointed out, the bottom 50% own just 2% of all net worth, or a paltry $2.8 trillion. What is even more sad is that the wealth of the bottom 50% is virtually unchanged since 2006, while the net worth of the Top 1% has risen by 132% from $17.9 trillion to $41.5 trillion. This wont end well No the Federal government's response did that. Last Edited by Mason Firefly on 10/14/2021 06:19 PM |
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