Record number of americans behind on car payments.

MickeyLee

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The idea of a strong American economy is a lie. There are obnoxiously rich people, poor people, and desperate bastards up to their tits in debt pretending not to be poor.

People are under paid and under employed. You shouldn't have to work three jobs just to stay a head of the repo man.


Eat the rich, people. They are plump and out numbered
 

gr8gatsby

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ronin001

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@MickeyLee I agree

Sadly a lot of people also spend way over their heads. Ronin raises his hand as a show of guilt

49643385_781354458891995_4025252404196912194_n.jpg
 

MickeyLee

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@MickeyLee I agree

Sadly a lot of people also spend way over their heads. Ronin raises his hand as a show of guilt

49643385_781354458891995_4025252404196912194_n.jpg
Sadly, for a good portion of Americans today, even in a two income household, ends meeting happen to be living above thier wage.

Keeping a roof over your head, food on the table, childcare and schooling, gas and a working auto can eat every penny.

We need to decide a quality of life/standard of living that all Americans should have as a given.
Wages and cost of living need to meet or exceed that set point.

Also universal healthcare and free higher education.
 

MickeyLee

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I also think that many people confuse want with need.

I think some people confuse heartlessness for reason.

Why is want so bad? The poor should have nothing? Experience no moments of frivolous happiness?

Uuggfhh my phone is a butt!
 
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ronin001

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Sadly, for a good portion of Americans today, even in a two income household, ends meeting happen to be living above thier wage.

Keeping a roof over your head, food on the table, childcare and schooling, gas and a working auto can eat every penny.

We need to decide a quality of life/standard of living that all Americans should have as a given.
Wages and cost of living need to meet or exceed that set point.

Also universal healthcare and free higher education.


I can definitely relate, I have lived a good chunk of my life trying to make it to the next pay day. I was out of work for a few months once;and health insurance alone cost $ 600 a month. I salute the working poor and the working middle class
 

keenobserver

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I saw the story earlier, and it dovetails with predictions that the auto industry is in precarious decline. According to one survey only one in five Americans is even financially qualified to buy a brand new car. 1 in 5. That is pretty low. Financing offer now are usually offered for 84 months on new vehicles. That in turn takes more potential buyers out of the market because of the long obligation on the trade vehicle. By the time it is paid off it is worthless for trade. That so many people are behind indicates the recovery is extremely fragile and most people are one emergency away from an economic disaster.

A lot of focus has been on the unemployment rate being a record low - which it is, hovering around 4 percent. However there is another rate also monitored by the government that monitors underemployment. This rate considers people who are part time who want to be or need to be full time. Last month that rate was 8.1&. That's pretty high - 8.1% of the workforce in underemployed. This in effect takes them out of the market as well. Which lowers the consumer goods market and makes big corporations financially wobbly.

A recent story in The Washington Post profiled a government worker at the IRS and how the shutdown destroyed her financial life - bigly. Full time she was making about 35K a year, living in the DC area. She has two kids and a niece she takes care of and life is a paycheck to paycheck struggle when everything goes well. Frankly to live in the DC area 50K for a single person is a spartan existence. People are woefully underpaid across the board - even with a Federal salary.

This is why we are seeing wider positive polling of the idea of raising taxes on higher brackets. The beatdown workers are taking is making socialism look awfully inviting. This next election cycle will be telling in a lot more ways than just the issue of Trump being a crook.
 

wallyj84

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I saw the story earlier, and it dovetails with predictions that the auto industry is in precarious decline. According to one survey only one in five Americans is even financially qualified to buy a brand new car. 1 in 5. That is pretty low. Financing offer now are usually offered for 84 months on new vehicles. That in turn takes more potential buyers out of the market because of the long obligation on the trade vehicle. By the time it is paid off it is worthless for trade. That so many people are behind indicates the recovery is extremely fragile and most people are one emergency away from an economic disaster.

A lot of focus has been on the unemployment rate being a record low - which it is, hovering around 4 percent. However there is another rate also monitored by the government that monitors underemployment. This rate considers people who are part time who want to be or need to be full time. Last month that rate was 8.1&. That's pretty high - 8.1% of the workforce in underemployed. This in effect takes them out of the market as well. Which lowers the consumer goods market and makes big corporations financially wobbly.

A recent story in The Washington Post profiled a government worker at the IRS and how the shutdown destroyed her financial life - bigly. Full time she was making about 35K a year, living in the DC area. She has two kids and a niece she takes care of and life is a paycheck to paycheck struggle when everything goes well. Frankly to live in the DC area 50K for a single person is a spartan existence. People are woefully underpaid across the board - even with a Federal salary.

This is why we are seeing wider positive polling of the idea of raising taxes on higher brackets. The beatdown workers are taking is making socialism look awfully inviting. This next election cycle will be telling in a lot more ways than just the issue of Trump being a crook.

I will take the bolded portion one step further and say that probably an equal number of people or even more people can't really afford a car at all.

I think cars are a huge money trap for low income people. Insurance, repairs, gas and a car payment? That is a lot of money. These people only have a car because in a lot of places if you don't have a car you just can't get around. Some jobs won't even hire you if you don't have a car. These aren't delivery jobs. Just normal jobs that are concerned with your ability to show up if you don't have a car.

A while back I made a thread about being car poor. No one seemed to be on my side about it, but I still think it is a real thing.
 

sodominsane

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I will take the bolded portion one step further and say that probably an equal number of people or even more people can't really afford a car at all.

I think cars are a huge money trap for low income people. Insurance, repairs, gas and a car payment? That is a lot of money. These people only have a car because in a lot of places if you don't have a car you just can't get around. Some jobs won't even hire you if you don't have a car. These aren't delivery jobs. Just normal jobs that are concerned with your ability to show up if you don't have a car.

A while back I made a thread about being car poor. No one seemed to be on my side about it, but I still think it is a real thing.
Car poor is absolutely a thing....where I lived in Kansas....it was absolutely necessary to have a car.....often you get into a... I need a car for work.....i work to pay for my car

Hmmmmm a while back.....no support....I get that....people never really are able to look outside self....hey if I can afford a car so can you.....now a few years later....more people are car poor......hence...now they see it

The cash for clunkers thing kinda gutted the used car market....as does some laws and insurace policies...

Lets not even get started on the insurance racket

Child care....even worse.....yeah put them welfare moms to work


Well....who has kids....young women....the jobs most young people get.....suck.....or at least are energy level.....well when clear 140 bucks a week after childcare....tell about depressing....why bother

Oh yeah cause I need that money to get gas so I can drive to the good pantry
 

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I will take the bolded portion one step further and say that probably an equal number of people or even more people can't really afford a car at all.

I think cars are a huge money trap for low income people. Insurance, repairs, gas and a car payment? That is a lot of money. These people only have a car because in a lot of places if you don't have a car you just can't get around. Some jobs won't even hire you if you don't have a car. These aren't delivery jobs. Just normal jobs that are concerned with your ability to show up if you don't have a car.

A while back I made a thread about being car poor. No one seemed to be on my side about it, but I still think it is a real thing.

You make an excellent point about poor people and cars. That said it is nearly impossible to be without one in many places in the US. We don't invest in mass transit much anymore, buses in my mostly rural area are hard to come by. The lady I referred to in my earlier post was getting killed by car payments and car repairs. She is in the trap of owing more than the car is worth, which in turn forces her to make expensive repairs that she also can't afford. Cycle continues.

In my own life I had a friend who became disables due to lung and respiratory conditions and became restricted pretty much to her home. She continues to keep her car - a nice but aging Cavalier - for emergencies. Year after year she spent money on insurance and repairs (which became necessary because the car was never driven). Her friends and I urged her to get rid of the car and accept that in an emergency she would be unable to drive and have to take an ambulance or cab anyway. Most of the time she already took a cab when she needed to go somewhere - but she refused. I've been toying with the idea of chucking my car and relying on cabs. In November I parked the car and took a cab everywhere - shopping, doctors, social events and the cost as not bad at all. Rack in insurance, gas and repairs it might be cheaper to go without a car - even in my mostly rural area. The problem for me will be when spring comes and I want to travel out of my area for vacations and sporting events in the larger cities. We will see.
 
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Governments have no money either. Doesn't help to have governments so strapped for cash and drowning in debt and credit as an example.

It's not going to end anywhere good, because governments have little or no left to stimulate anything.
 
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meningreentights

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TV advertising target you trying to make you feel dissatisfied with your life. They promise you that this or that will make you happy. It's all a lie.
Stick with what you can afford, and don't worry about other people.
 
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