Families Go Deep in Debt to Stay in the Middle Class

[Anonymous No.15095937]

https://www.wsj.com/articles/families-go-deep-in-debt-to-stay-in-the-middle-class-11564673734

>Jonathan Guzman and Mayra Finol earn about $130,000 a year, combined, in technology jobs. Though that is more than double the median, debt from their years at St. John’s University in New York has been hard to overcome.

>The two 28-year-olds in West Hartford, Conn., have about $51,000 in student debt, plus $18,000 in auto loans and $50,000 across eight credit cards. Adding financial pressure are a baby daughter and a mortgage of around $270,000.

>“I’m normally a worrier, but this is next-level stuff. I’ve never been more stressed,” Mr. Guzman said. “Never would I have thought with the amount we make I would have these problems.”

Why does every single one of these inbred mongrels feel entitled to a life they cannot afford? They create artificial demand through their careless indulgence in usury, bringing the cost of living to unsustainable levels for everybody else who has their shit together. And then when the whole thing collapse every ten years they come begging to mommy government to bail them out, punishing responsible savers for another business cycle. Fucking credit clowns.

[Anonymous No.15095948]

>>15095937
>t. NEET living with parents

[Anonymous No.15095968]

how the fuck are they spending so recklessly? 50k credit card debt lmao

[Anonymous No.15095973]

>>15095948
neets handle money better than braindead wagies.

[Anonymous No.15095983]

>>15095948
Rekt

[Anonymous No.15095994]

>>15095973
>he actually believes this

delusional

[Anonymous No.15095999]

>>15095937

Knock off the 50k in credit card debt they acquired on stupid fucking shit, live meager while the kid is young and pay off those cars, don’t lease anymore, while doing this claim hardship on student loans get them lowered into the %1 interest tier, minimum payments while you chunk everything else out.

Why are people so bad at life? Self made problems 50K in credit card debt alone is a death sentence fucking 1400 a month in interest prob, be better off taking out an equity loan off the house, rolling back into mgt to kill those off, but they fat Mexican cunt would just load them up again, which is the actual problem obviously.

TL;DR normies enslave themselves and there’s no helping them. They’re genetic serfs and if there’s no serf field to till they’ll by God fucking make one so they can feel whole:

[Anonymous No.15096009]

>>15095937
Figure out how to make to money off these faggets then complain about them. That’s the difference between making it or being a fagget yourself.

[Anonymous No.15096012]

>>15095983
>>15095994
>full blown wagie cope

[Anonymous No.15096013]

>>15095937
>Why does every single one of these inbred mongrels feel entitled to a life they cannot afford?
Are you aware that the whole country is run on debt.
>>15095968
Look into goverment spending and you will shit your retarded pants

[Anonymous No.15096028]

>>15095968
Lol

[Anonymous No.15096034]

>>15095948
>>15095983
I'm in my late 20s, left home for college when I was 17 on a merit scholarship, make $160k/year working in the northeast, I've never touched a fucking credit card in my life nor do I even have a credit score. Cope harder.

[Anonymous No.15096043]

>>15095937
>>The two 28-year-olds in West Hartford, Conn., have about $51,000 in student debt, plus $18,000 in auto loans and $50,000 across eight credit cards. Adding financial pressure are a baby daughter and a mortgage of around $270,000.

Also, that fat bitch love them fancy tacos, for sure.

[Anonymous No.15096062]

>>15096013
This, the government is the biggest fucking acquirer of credit debt to the likes of no other. The government lives off credit debt and pays off its debt with more debt kek

[Anonymous No.15096063]

>>15095937
Shit fucking spenders crying for help. Dumbasses can start helping themselves by selling that giant fucking ottoman-bed the dog is on. And downgrade their silky L shaped couch to a normal one piece couch. Shit spenders annoy me

[Anonymous No.15096064]

>>15095973
I'm a NEET living at home and have $100k of debt

[Anonymous No.15096068]

>>15095937
the way they are neglecting ther first kid in front of the camera, is appalling.

[Anonymous No.15096075]

>>15095937
It’s modern fiscal policy that causes this. They have to keep rates artificially low to keep the failing system from imploding.
When rates are so low why not borrow for everything? When people start to borrow for everything it causes artificial demand which drives prices up.
Colleges say, hey why not jack the price up 15pct every year. That’s only 20 bucks extra on their student loan payment every month. They won’t care.....and no one does.
It’s only going to get worse as the euros are starting to make it seem ok to have negative interest rates now.

[Anonymous No.15096081]

>>15096013
So because everyone is in debt, you'd go ahead and jump in too? The fuck is wrong with individuals?

[Anonymous No.15096088]

>>15096064
>uses his own retardation as a counter argument
That's dedication to the discussion, anon

[Anonymous No.15096092]

>>15096075
This is good for crypto

[Anonymous No.15096096]

>>15096034
You don’t expect to ever need to use credit?

[Anonymous No.15096109]

>>15095937
who the dead doggo?

[Anonymous No.15096114]

>>15096081
because you won't be able to compete against people who are using debt as leverage.

[Anonymous No.15096133]

>>15095937
>50k credit card debt
being a burger

[Anonymous No.15096155]

>>15096096
Not in the foreseeable future, no. In fact I expect the debt bubble to pop so hard thanks to these idiots that when boomers realize their pensions are bust they'll be scrambling to sell their house at pennies on the dollar just so they can afford to move into their used mobile home. I've seen this happening in parts of NJ already it's pathetic.

[Anonymous No.15096167]

how can you go through structural change in the economy?
you need a crisis, right?
how do you get a crisis?
you create a bubble

it's all so tiresome, just fucking default and start from zero you dumbfuck elites

[Anonymous No.15096176]

they're pulling probably around $7000 a month after taxes. their mortgage is probably around $2000/month. that leaves five fucking thousand dollars a month. they could be out of debt easily in a few years without even trying, just stop spending money on stupid shit jesus christ how stupid are these people.

[Anonymous No.15096213]

>>15095937
>Why does every single one of these inbred mongrels feel entitled to a life they cannot afford?

Because normies always compare themself to others. So if their friend couple has the same jobs and they both drive nice cars they think they should get also nice cars.

>They create artificial demand through their careless indulgence in usury, bringing the cost of living to unsustainable levels for everybody else who has their shit together.

True, but on the other hand we have an economy based on growth. We need consumers like them to keep this game going for the current generations. Imo all those poor and uninformed immigrants will be the running force of our consumption society for the next 20 years because normal white Americans are getting interested in things like minimalism, investing, tiny house etc.

>And then when the whole thing collapse every ten years they come begging to mommy government to bail them out, punishing responsible savers for another business cycle. Fucking credit clowns.

Because of this you need to consider your position. For example you could hedge against this people by simply buying stocks of the companies where they overspend. Buying stocks of credit card companies. Or get cheap debt to buy an investment property.

[Anonymous No.15096260]

You can tell from the picture she's an over spending bitch wasting money on stupid shit and he's a doormat who goes along with everything she thinks she wants. Literally Soi NPCs

[Anonymous No.15096277]

>>15096260
that is the price you pay for not dyiyng as a virigin incels today

[Anonymous No.15096295]

>>15095973
because they dont have any lmfao

[Anonymous No.15096317]

>>15095948
This.

[Anonymous No.15096333]

>>15095937
>mfw $0 in student debt thanks to scholarships, ~600k net worth thanks to LINK
based /biz/
still live with my parents though

[Anonymous No.15096470]

>>15095973
>*spends everything on anime and gamer food*

[Anonymous No.15096494]

>>15096333
How did you make 600k

[Anonymous No.15096511]

>>15096494
Finish the sentence, brainlet

[Anonymous No.15096513]

>>15096494
>thanks to link
>how did you make
???

[Anonymous No.15096527]

>>15096511
>>15096513
I want to know what he did with the how to make it

[Anonymous No.15096564]

>>15096527
You will do 2 out of these 3:
>Leave biz
>Lurk more
>Stay poor

[Anonymous No.15096570]

>>15095937
How are these basedmonculi so in debt?

130,000 income
119000 in debt
270000 mortgage
390000 total debt load

Assume 10% interest annually
130000 income
39000 in interest payments
They should be taking home 90k a year and be able to pay off their credit card debt atleast
Student loans are a joke you don’t need to pay back because you can’t evict someone from an education
In one year they should’ve paid back their credit card debt, which shouldn’t exist because of their income

How are these stupid retards spending 250$ a day? How did they get such credit debt?

Maybe they’re just mindless faggot consumerists and god hates them

They should’ve been debt free within 3 years if they weren’t total retards

I’m tempted to sage this fake news bullshit

[Anonymous No.15096581]

>>15095937
Reminder that social status is a meme

[Anonymous No.15096593]

>>15096527
You are not a smart person are you

[Anonymous No.15096601]

>>15096570
Hell, I live in a poor area and my former boss at one point had $50k credit card debt. the kicker was he only made $50k a year. they somehow got out from under it eventually, but after that he wasn't allowed access to their money at all. literally just $15 cash for lunch a couple times a week..

[Anonymous No.15096608]

>>15096581
I saw that Leddot for the first time yesterday during a google search
The amount of cope and butthurt literal S O Y is unbelievable, and I’m not even one to call people soibois

[Anonymous No.15096625]

>>15096593
No thats why im asking you

[Anonymous No.15096647]

Kek I have family in this town. Those spics should have stayed in Hartford maybe they could afford a decent standard of living there.

[Anonymous No.15096656]

>>15096581
>I would rather be poor and smug than rich
Why do they do this? Literal slave morality

[Anonymous No.15096688]

>>15096075
Unironically this
>b-b-but the loans interests are so cheap! Why wouldn't I go in debt 15 years for this car?
>if I can afford the monthly mortgage then I can afford it - nevermind the inflated price of what I'm buying

[Anonymous No.15096709]

>>15095937
>Applewatch
>Dog
>Designer glasses

Yeah, I wonder why they are so fucking poor. Really can't imagine that they fall for every dumb ad.

Sometimes I just want to go out and kill those normies for being so fucking stupid. Like wtf?

[Anonymous No.15096778]

>>15096709
don't forget
>brand new multipart couch
those things are fuckin expensive

[Anonymous No.15096804]

>>15096494
he's just a larper, as usual

[Anonymous No.15096822]

>>15095937
>$50,000 across eight credit cards.

The rest I can almost kind of understand but what the fuck

[Anonymous No.15096926]

>>15095973

this is fucking true, also fuck normies imitating rich lifestyles of fuckinstagram, fucking natural selection

[Anonymous No.15096937]

>>15095937
this is easily explained. spoiled, entitled cunt of a wife

[Anonymous No.15096986]

>>15096804
Cope. 600k net worth would mean he put in about 30k at link ico. Many anons here put in way more than that. Youre either new or you fell for the link is a meme meme for the whole of 2017 and 2018

[Anonymous No.15096998]

>>15095937
Because our stupid tiny monkey brains weren't designed to "manage debt." I could get into race realism and deferred gratification, but this is 4chan so I'm sure it's not anything you don't already know.
t. fellow neet living in parent's basement

[Anonymous No.15097006]

>>15096986
yeah ok

[Anonymous No.15097030]

>>15095937
the stupid face she is making says it all. She is charge of all the finances and demands they live a certain lifestyle.

[Anonymous No.15097060]

>>15095973
I do invest 90 percent of my money.

[Anonymous No.15097063]

>>15096804
Cope. 600k net worth would mean he put in about 20-25k at link ico. Many anons here put in way more than that. Youre either new or you fell for the link is a meme meme for the whole of 2017 and 2018

>>15096804

[Anonymous No.15097080]

>>15097006
Just lurk before you post newfag

[Anonymous No.15097092]

>>15096986
>>15097063
someone is triggered at me calling out a larp that isn't even his

[Anonymous No.15097108]

>>15096937
The male isn't better. Having a wife wanting useless shit is one thing, letting her buy it with money you don't have is another.

But yeah, the majority of humans are incredibly stupid, nothing new.

[Anonymous No.15097151]

>>15097063
Triggered

[Anonymous No.15097160]

>>15096034
>nor do I even have a credit score.
Not something to be proud of. Good luck ever starting a business

[Anonymous No.15097186]

>>15095937
#creditclowns has some meme potential OP

I seriously think we need to beging shaming these people and not listening to them. We need to start a culture of shame and fear around debt and make it so nobody ever wants to get a mortgage or live beyond their means. If you ever find out a friend or family member has huge debts just call them a Credit Clown and say honk honk credit clown lol

[Anonymous No.15097199]

>>15097151
Stay poor and salty for missing buying link at ico or the whole of 2018.

>>15097092
Its cos im in countryside right now and internet is shit so accidentally multiposted. If you think its a larp that bizlet in late 2019 would have 600k of link then youre either new or a brainlet. It was 10 cents at ico.Check warosu for the threads where everyone pooled their eth to get in on it.

[Anonymous No.15097210]

>>15097186
Being afraid of debt is poor person mentality
Knowing how to use debt to your advantage will make you a lot of money.

Look at Trump

[Anonymous No.15097220]

>>15097210
Trump is rich because of generational wealth and sucking jewish cock, don't get it twisted anon

[Anonymous No.15097229]

>>15095937
$18K in car loans? What cars did they buy?

[Anonymous No.15097244]

>>15097220
Cope loser.

If you weren't a pussy you could've used debt to buy crypto/chainlink and you'd have made it by now. But like all poor people you have mentality of debt=bad.

[Anonymous No.15097252]

>>15095937
Don’t hate the player hate the game

[Anonymous No.15097265]

>>15095937
>caring about some spics who fell for the college meme

[Anonymous No.15097290]

>>15095937
>$51,000 in student debt, plus $18,000 in auto loans and $50,000 across eight credit cards.

[Anonymous No.15097360]

I make 90k/yr and have 70k debt. AMA

[Anonymous No.15097374]

>>15097265
Yea, no shit . Fuck these idiots.
They make so much and live above their means. They are feeding my bank stocks in the form of interest payments and perpetual debt.

The trap is real, and my VFH stock is booming.

[Anonymous No.15097383]

>>15097360
No, go fuck yourself you idiot

[Anonymous No.15097416]

>>15097383
o-ok

[Anonymous No.15097486]

>>15095948
>t. College clown
My mom lives in public housing, couldn't stay if I wanted. Seriously, stop being so insufferable and entitled.

[Anonymous No.15097627]

>>15095973
when my neet friend gets 20 bucks it burns a hole in his wallet. ur a tard

[Anonymous No.15097661]

>>15097265
It's not so much that I care about them. It's that there are literally millions like them who are ultimately fucking up the supply and demand curve. Ever wondered why the fuck college can charge you $60k/year for an expensive daycare system? The endless supply of idiots who go balls deep in debt that's why. Same with housing.

[Anonymous No.15097716]

>tfw $70,000 in cc debt due to medical bills

[Anonymous No.15097768]

Can the murrikans on here explain this credit card meme? Us Europeans literally can't understand it

[Anonymous No.15097789]

>>15097716
>he paid medical debt with a credit card

[Anonymous No.15097791]

>>15096034
dude get a credit card and just pay off the balance in full each month. easy 2% back on all purchases , 4% on others if you get the right card. Never having a CC is only something to brag about if you lack the fortitude to use it properly

[Anonymous No.15097797]

>>15095968
Straight there in the picture. Brand new, "modern" style corner sofa, fancy "artsy" cushions and whatever the fuck that dog is sleeping on is called.

Bet you their whole house is full of fancy and artsy stuff, hand-picked by the wife, at top price.

Meanwhile I have literally £0 credit card debt, and a manageable student loan, but living off mismatched hand-me-downs from family, until I can actually afford my own house.

Shit, but at least I'm not in debt.

[Anonymous No.15097821]

>>15097108
yeah you can tell by him feeding the child

[Anonymous No.15097851]

>>15097791
he's a child who's making shit up. nobody who makes 160k a year is stupid enough not to see the benefits of using a credit card

[Anonymous No.15097867]

>>15096034
i've grinded 250k in credit card bonus miles this year and have no outstanding debt, why are you bragging about not being able to travel the world for free fren?

[Anonymous No.15097926]

>>15095999
>50K in credit card debt alone is a death sentence fucking 1400 a month in interest

It's probably under $1000. Even at 29% interest

[Anonymous No.15097937]

>>15097791
>>15097851
no but seriously, I have no use for it, nor do I intend to buy property until I'm 30+ and the macro trends become clearer.

[Anonymous No.15097992]

>>15095937
I only make 23K a year and have zero debt.

[Anonymous No.15098004]

>>15096034
>he doesnt know about zero APR promo credit cards

brainlet

[Anonymous No.15098055]

>why dont you take credit card debt and earn good goy points anon?
>it is the american way

[Anonymous No.15098077]

>>15095937
>Two 28 year olds make a combined $130k
>mfw im one 26 year old making more than that

fucking plebs

[sleekmouse No.15098105]

>>15095937
Buy gold

[sleekmouse No.15098122]

>>15095999
Checked. Genius poster

[Anonymous No.15098161]

>>15095937
>50k credit card debt

HOW DID I END UP POOR THIS ISN'T FAIR REEEEEEEEEE

[Anonymous No.15098172]

>ppl trying to force credit cards on others
tfw my debit card gives me 3% cash back and lounge access and 8% interest on my bitcoins.

[Anonymous No.15098181]

>>15098172
MCO

mah niggah

[Anonymous No.15098231]

>>15095937
He literally just need to smoke/ingest a little weed when he gets home and he will be 100% fine.

You dont get to buy a $270K house and then cry and complain "wahhhh im in debt" thats YOUR FUCKING FAULT!

$18,000 auto loan? THATS NOTHING WTF! haha

$50k credit card debt is little autistic and will bleed them heavily if they dont consolidate it.

[Anonymous No.15098271]

>>15097867
Eventually that ends when you've churned through all the credit card you can.

Chase took steps to prevent the abuse that was so rampant around 2014-2016 with their many hotel/traveling cards.

I was a part of that, I had everything and even did the trick where you reduce the limit on the Ritz card to $1000 and they auto refund the $495 annual fee.

Cant escape the 5/24 rule bud, enjoy what you have because its not an infinite well of free miles.

[Anonymous No.15098375]

>>15098181

[Anonymous No.15098406]

>>15095937
>bottle feeding the baby when mommy's milkies are right there.

[Anonymous No.15098407]

>>15096034

[Anonymous No.15098455]

>>15097797
>Brand new, "modern" style corner sofa, fancy "artsy" cushions
and it doesn't even look comfortable WTF

[Anonymous No.15098516]

>>15096581
>comedy gold

[Anonymous No.15098623]

>>15098271
i know fren. i'm just hoping that i can do this for another year or so while I make it with crypto. i have an ecommerce biz that i'm going to make around 60k this year/i've been saving on rent by living at home, so i'm just trying to enjoy life day by day.

[Anonymous No.15099317]

>>15098172
>>15098181
What's MCO's business model? I know they're getting their capital from token sales but how is operational costs covered long-term? Is it really just VISA fees? Are they trading their deposits?

[Anonymous No.15099350]

>>15098406
they want their kid to be lower iq than it otherwise could be, it's a lifestyle choice like having insane debt

[Anonymous No.15099445]

>>15095937
What the actual fuck is wrong with people?
> We make $130K
> Our 50K in student loan debt is burying us!
> It's not that we have a 270K mortgage we decided to put on ourselves
> Or the dependent we have to support we chose to create
It's like they're legitimately retarded.

[Anonymous No.15099447]

>>15099317
I assume something long the lines of a lot of those financial institutions without any fees. Id guess they are planning on making interest on deposited fiat much like robinhood or even what Libra plans to profit off of. They do have the free debit card with 1% cashback so theyd be profiting off of that if they get enough people. They seem to be going slow and trying to make a premium financial product for the crypto world, the ceo guy Ive seen mention he wanted like a clean/apple type of experience. They partnered with some company that runs PoS nodes and their one currency CRO is PoS and they own the largest share, as well as owning the largest share of MCO. In the beginning they might be burning through cash reserves to attract customers.
I like my debit card though. Swipe, get 3% crypto back as MCO instantly.

[Anonymous No.15099545]

>>15096581
This, and living in West Hartford is 100% about status.

[Anonymous No.15100352]

>>15099445

and

>Trendy sofa and ottoman
>Apple watch
>Diamond ring
>Eating enough food to cause adverse health effects
>Dog that seems ashamed of them
>All in the same picture

The dog would be better at managing their finances.

[Anonymous No.15100379]

>>15096013
Governments can go into debt because they have a stable stream of income to pay off the interest. Basically, if the US govt (or any legitimate world government) is in a position where it cannot pay its debts the global situation is so irrecoverable that a credit crunch is probably the least of our concerns.

[Anonymous No.15100397]

>>15095937
And now you are realizing how easy it is for one political party to dishonestly campaign on getting rid of all this debt. People are desperate. They'll believe anything.

[Anonymous No.15100676]

>>15096064
how you have debt if you're a neet? larp

[Twitter.com/KadaneZod No.15100717]

>>15095937
Fractional reserve.

[Anonymous No.15100848]

>>15097789
what was the alternative?

[Anonymous No.15100912]

>>15095937
Imagine being such a shallow piece of shit that you NEED a brand new expensive car, really expensive furniture, a house you can't afford etc and your only defense is "muh american dream". Kek.

[Anonymous No.15100953]

>>15100912

Imagine doing all that and then saying your financial problems are somebody else's fault

[Anonymous No.15100962]

>>15097220
Trumps business also has been a laundromat for Russian money for years, lol. That’s also a huge reason he’s been able to stay rich...I’m not against it, live and let live...if he can outrun the cops good on him. I work in a high end real estate office in NYC and everyone here has dealt with his nonsense.

[Anonymous No.15101048]

>>15097186
Credit is just a way to access your future money in the present. It's a good thing.

[Anonymous No.15101090]

>>15095937
>Why does every single one of these inbred mongrels feel entitled to a life they cannot afford?
People deserve to have financial security and not to be exploited. Just because the system is set up in a certain way to make it impossible for them to have this with what they "earn" doesn't mean it's an immoral desire to have this.
If you're still living in some fantasy land where this is cavemen lounging around not planting crops or hunting animals and demanding food, stop. It just shows you to be ignorant about how things work and callous towards people when you're not going through what they're going through.

>>15095968
It seems in this case that these people did however make a senseless and to some extent immoral choice - to fall into the debt trap for things which they didn't need and weren't even advancing their financial situation.
Still, the greater and fundamental immorality is the system of usury itself. Not paying back the initial outlay is immoral, but lending usuriously is the real crime.

[Anonymous No.15101230]

>>15096625

[Anonymous No.15101274]

>>15095937
wow it's almost as if you consume rather than produce you become poor like most people

also their faces are so clueless

[Anonymous No.15101276]

All of the boomer financial advice that rich parents give to their kids who are just out of high school and earning shit wages at target should actually apply to people making six figures. Buy a "reliable beater" car in cash to avoid financing. Have a room mate. Meal prep with cheap staples. These people thought they were rich enough to live in luxury but not in boomer world where real estate is a commodity to be invested (:

[Anonymous No.15101291]

>>15096527
He said link. Probably full blown autist put 60k into link and it went 10x there we go.

[Anonymous No.15101292]

>>15096081

They are counting on the central bank kikes to preventatively print enough money to go straight into hyperinflation without brakes, avoiding the usual deflationary crash that comes before civilizations dying. This has all happened before repeatedly, with the fall of the Romans being the largest and best documented.

If the money is worthless, so are your debts. The risk lies in deflation making your payments impossible and losing all the assets before it happens. Risky.

[Anonymous No.15101294]

>$51k in combined student loan debt

ahh that's not too bad they should be able to manage i-

>also $50k in credit card debt

[Anonymous No.15101298]

don't blame people for going into debt. these are the people america needs to fuel the economy. the entire reason why america has such a strong economy is because people go into debt to buy shit. telling people to stop going into debt and buying shit will fuck things up for everybody.

[Anonymous No.15101303]

>>15101048
>Credit is just a way to access your future money in the present. It's a good thing.
Horseshit. All debt based consumption steals from the future to gratify the present.

>>15101090
>People deserve to have financial security and not to be exploited.
"deserve"? Like some God given right or something? You don't deserve shit but the product of your hard work. Everything else is a deluded travesty of natural selection.
>Still, the greater and fundamental immorality is the system of usury itself. Not paying back the initial outlay is immoral, but lending usuriously is the real crime.
Shit we can agree on that at least.

[Anonymous No.15101328]

>>15101298

"Debt slave" sounds like a cliche term but it really has meaning. There are those who free themselves of the constant consume/debt cycle and lifetime burden, and those who find a way out and free themselves with careful financial management and investment.

[Anonymous No.15101335]

>>15096625

Don't ask questions, buy orion protocol tokens in the september sale and hold onto them. You will likely 5000x whatever you put in within 2 years.

[Anonymous No.15101353]

>>15095937

>crippling debt
>4500 usd couch with nice pillows

Oh the humanity

[Anonymous No.15101380]

>>15096034
Autistic retard. I make anywhere from 1.5% to 5% cash back on my credit card purchase and then I pay off the balance at the end of the month. Its literally free money.

[Anonymous No.15101402]

>>15096581
>tfw that's one of my burner accounts

[Anonymous No.15101410]

>>15101380

And what do you buy then? Can you use this for groceries? We don't have this cashback shit in Europe, we just get interest raped.

[Anonymous No.15101413]

>>15096926


LOL well it's like that ant meme, where there's just a bunch of ants that simply don't do any work in a colony at a given time and even if other workers are taken away and more work is place, the "lazy ants" still don't do any work. They just sit around and consume resources while the other ants work harder.

[Anonymous No.15101448]

>>15101380
>I make anywhere from 1.5% to 5% cash back on my credit card purchase
you're quite the high roller my friend

[Anonymous No.15101472]

>>15101380
>I make anywhere from 1.5% to 5% cash back on my credit card purchase
you're quite the high roller my friend. I bet you bought your sperry's on sale too

[Anonymous No.15101486]

>>15095937
If you're deep in debt you're not middle class.

>Low Class: Owning very little
>Middle Class: Owning all your own assets you need
>Upper Class: Owning your own assets + the Low Class's assets.
If you're in debt for your own house/car you're not middle class

[Anonymous No.15101504]

>>15101486
that's not how the vast majority of people define things but ok

[Anonymous No.15101505]

>>15101410
>And what do you buy then? Can you use this for groceries?
Yeah, cashback pays off your credit debt.

>Put phone bill/gas bill/grocery bill/misc bills on credit card
>$500/month, or $6k per year
>get 2.5% back ($150)
>Use balance of $150 rewards to pay off credit card bill.

[Anonymous No.15101514]

>>15101472
shut up retard, we all know you're larping as a successful adult. it's pretty pathetic honestly.

[Anonymous No.15101581]

>>15101514
That the only rebuttal you can come up since your very first post amounts to doubling down on self-delusion kind of confirms my point about the complete lack of discernment from people who willingly partake in the debt economy. Everything I posted is accurate. It's up to you to fix your attitude problem.

[Anonymous No.15101599]

>>15095973
What money?

[Anonymous No.15101631]

>>15100962
>muh Russia
Holy shit does it ever get tiresome?

[Anonymous No.15101644]

>>15101504
The vast majority of people are retarded. Don't get me wrong, if your home value is above your mortgage level you can rationalize that as not being debt, but you should be on track to pay it off and own your home. If you're a salary working with a negative net worth you are 100% low class.

[Anonymous No.15101661]

>>15095937
doesn't matter what they spend, they'll still be mexican

[Anonymous No.15101746]

>>15095937
>muh genetic diversity
they not brother and sister for a fucking start ?
poor kid will have two heads

[Anonymous No.15101867]

>>15095999
>They’re genetic serfs and if there’s no serf field to till they’ll by God fucking make one so they can feel whole

Based and blackpilled

[Anonymous No.15101935]

>>15101505
>>15101514
Stfu neets u still lose money because u spend it with ur credit cards.

[Anonymous No.15102398]

>>15096009
Based and faggetpilled

[Anonymous No.15102848]

>>15096114
>debt as leverage
Yeah, being tied down by tens of thousands, sometimes hundred of thousands, of dollars for the rest of your life gives you leverage over those who don't owe anyone. Keep believing the debt myth retard.

[Anonymous No.15102869]

>>15102848
the amount of money you make by leveraging your debt exceeds the interest payments you make. that's the point of margin trading or debt leveraging. there is risk and reward. but if you want to move up the ladder you need to take risks.

[Anonymous No.15102882]

>>15095937
"I deserve this and that, even though I cannot afford it. I need to live a LIFE. It's the jews keeping me down!"

No! Fuck you!

[Anonymous No.15102914]

>>15096213
>economy based on growth.
Not true. Economy works whether growing or not.
What is based on growth is the governments ability to service its debt. If the economy isnt growing the govt cant pay its debt interest.
The economy itself doesnt care if it is growing or not.

[Anonymous No.15102927]

>>15095937
As a virgin 29 year old neet with over $350k in assets + own home and zero debt (I have never borrowed anything in my entire life - empty credit history) their life is much better than mine.
Money is only a small part of life. I would rather be in debt than alone.

[Anonymous No.15102967]

>>15101090
financial security!=excessive luxury

[Anonymous No.15102982]

>>15102927

Can we swap? I'm not a virgin, but I'd trade it all for my own house and a large amount of assets.

That brings so much opportunity, you have the freedom to change. If you're unhappy, something in the way you live your life is wrong.

Stop living the way you are living, choose adventure for a little while. Take 3-6 months off and go see the world.

[Anonymous No.15103023]

>>15098172
what card?

[Anonymous No.15103031]

>>15095937
>>15095937
>>15095937
>>15095937>>15099597
>>15099597


>>15100000
>>15100000

[Anonymous No.15103094]

The American middle class is falling deeper into debt to maintain a middle-class lifestyle.

Cars, college, houses and medical care have become steadily more costly, but incomes have been largely stagnant for two decades, despite a recent uptick. Filling the gap between earning and spending is an explosion of finance into nearly every corner of the consumer economy.

Consumer debt, not counting mortgages, has climbed to $4 trillion—higher than it has ever been even after adjusting for inflation. Mortgage debt slid after the financial crisis a decade ago but is rebounding.

Student debt totaled about $1.5 trillion last year, exceeding all other forms of consumer debt except mortgages.

Auto debt is up nearly 40% adjusting for inflation in the last decade to $1.3 trillion. And the average loan for new cars is up an inflation-adjusted 11% in a decade, to $32,187, according to an analysis of data from credit-reporting firm Experian.

Unsecured personal loans are back in vogue, the result of competition between technology-savvy lenders and big banks for borrowers and loan volume.

The debt surge is partly by design, a byproduct of low borrowing costs the Federal Reserve engineered after the financial crisis to get the economy moving. It has reshaped both borrowers and lenders. Consumers increasingly need it, companies increasingly can’t sell their goods without it, and the economy, which counts on consumer spending for more than two-thirds of GDP, would struggle without a plentiful supply of credit.

continued...

[Anonymous No.15103105]

>>15103094

In one sense, the growing consumer debt is a vote of confidence in the future. People borrowing money today expect to have the income tomorrow to pay it back. Consumer debt tends to rise when borrowers feel secure in their jobs.

But the debt pile is also an accumulated ledger of economic risk. It should be manageable so long as unemployment remains low. If job losses begin to rise, it would become unsustainable for some share of borrowers, raising chances of an increase in missed payments and lenders writing off unpaid balances. The Fed lowered interest rates on Wednesday because it sees rising risks of a slowdown that could boost unemployment.

Median household income in the U.S. was $61,372 at the end of 2017, according to the Census Bureau. When inflation is taken into account, that is just above the 1999 level. Without adjusting for inflation, over the three decades through 2017, incomes are up 135%.

Average tuition at public four-year colleges, however, went up 549%, not adjusted for inflation, according to data from the College Board. On the same basis, average per capita personal health-care expenditures rose about 276% over a slightly shorter period, 1990 to 2017, according to data from the Centers for Medicare and Medicaid Services.

And average housing prices swelled 188% over those three decades, according to the S&P CoreLogic Case-Shiller National Home Price Index.

“The costs of staying in the middle class are going up,” said Adam Levitin, a Georgetown Law professor who studies bankruptcy, financial regulation and consumer finance.

Jonathan Guzman and Mayra Finol earn about $130,000 a year, combined, in technology jobs. Though that is more than double the median, debt from their years at St. John’s University in New York has been hard to overcome.

[Anonymous No.15103117]

>>15103105
The two 28-year-olds in West Hartford, Conn., have about $51,000 in student debt, plus $18,000 in auto loans and $50,000 across eight credit cards. Adding financial pressure are a baby daughter and a mortgage of around $270,000.

“I’m normally a worrier, but this is next-level stuff. I’ve never been more stressed,” Mr. Guzman said. “Never would I have thought with the amount we make I would have these problems.”

They no longer dine out several times a week. Other hits to their budget were hard to avoid, such as a wrecked car that forced them to borrow more.

Ms. Finol hasn’t used her T.J. Maxx credit card in more than a year. She makes the minimum monthly payment on its balance of approximately $7,500. Her monthly statement says if she continues at this pace, she will need about 23 years to pay it off.

Earlier this year, Mr. Guzman put his credit cards in a Ziploc bag with water and placed it in the freezer. In May, however, they went to two weddings, and needed a card to cover the cost of a gift and a rental car.

Mr. Guzman removed one of the credit cards from the freezer. “A lot of things came at once,” he said. Since then, he’s taken the rest of them out, too.

U.S. households that have credit-card debt owed an average of $8,390 in the first quarter 2019, up 9% from 2015 when adjusted for inflation, according to an analysis of Federal Reserve data by research firm WalletHub.com

New wealth gap
Taking on a mortgage to buy a house that could appreciate, or borrowing for a college degree that should boost earning power, can be wise decisions. Borrowing for everyday consumption or for assets such as cars that lose value makes it harder to save and invest in stocks and real estate that tend to create wealth. So the rise in consumer borrowing exacerbates the wealth gap.

[Anonymous No.15103126]

>>15103117

The U.S. economy roughly doubled in size from 1989 through 2016, data from the U.S. Bureau of Economic Analysis show. Counted together, everyone got wealthier. But gains in assets owned were heavily skewed toward the highest earners, according to a Journal analysis of the Fed’s Survey of Consumer Finances.

The median net worth of households in the middle 20% of income rose 4% in inflation-adjusted terms to $81,900 between 1989 and 2016, the latest available data. For households in the top 20%, median net worth more than doubled to $811,860. And for the top 1%, the increase was 178% to $11,206,000.

Put differently, the value of assets for all U.S. households increased from 1989 through 2016 by an inflation-adjusted $58 trillion. A third of the gain—$19 trillion—went to the wealthiest 1%, according to a Journal analysis of Fed data.

“On the surface things look pretty good, but if you dig a little deeper you see different subpopulations are not performing as well,” said Cris deRitis, deputy chief economist at Moody’s Analytics.

Counting all kinds of debt, including mortgages, consumers aren’t nearly as debt-burdened as they once were. In the fourth quarter of 2007, the last year before the financial crisis struck, households devoted 13.2% of their disposable income to debt service. In the first quarter of 2019, that number was 9.9%, largely due to low interest rates.

Partly because of widespread refinancing, mortgage payments since the start of 2017 have claimed the smallest slice of disposable personal income in decades, in the low 4% range, according to Fed data.

Other debt, such as auto and student loans and credit-card borrowing, consumed about 5.7% of disposable personal income in the first quarter. That was up from a low of 4.9% at the end of 2012 and back to 2009 levels. In contrast to a mortgage, most of this borrowing went to fund consumption.

[Anonymous No.15103136]

>>15103126
Elizabeth and Andy Bauerle have been trying to buy a house for seven years without success, despite having combined income of about $155,000—in the top 20% of households, according to census data.

The two 34-year-olds face a common conundrum. Their jobs are in the Seattle metro area. In cities with strong job and wage growth, such as theirs, rising real-estate prices can put homeownership out of reach even for families that rate as well-off by overall national standards.

The Bauerles have $30,000 in their down-payment fund, but the kind of house they want—a two-bedroom, two-bath with a yard—starts at around $600,000 in and around Seattle.

They figure they would need to make a down payment of $70,000 to keep the mortgage payment manageable, given their other obligations. These include student-loan debt of about $88,000 that consumes around $1,000 of income every month.

Ms. Bauerle said about half of their take-home pay goes out the door for that plus $1,750 in rent and $1,200 in child care for their son. “Four thousand dollars of our income is immediately spoken for,” she said.

[Anonymous No.15103146]

>>15101303
>You don't deserve shit but the product of your hard work.
My point is that in the modern capitalist society what people get paid has fuck-all relation to how hard they work, and increasingly little to how much they contribute to society. If anything the trend is that the more tangible and physical the work someone does the less they get paid and the more they get exploited.
It's a deeper philosophical question whether there's "God given rights" at all, but answering that question isn't necessary to examine what is right in front of us in the physical world, and that's that there's no reasonable basis to assign some kind of moral incorrectness to the state of people unable to find a means to pay for a reasonable life through work wanting to have a reasonable life.
It's particularly silly if you're going to pull the social darwinist line at the same time as saying whether they deserve or don't deserve something. Darwinism as a prescritpive philosophy is explicitly anti-moralist, so whether they get a day's pay for a day's work to spend on affordable necessities or whether they collect profits from workers struggling to keep a roof over their heads to live a lavish lifestyle, "deserve" doesn't feature into it. Even just begging for gibsmedat is Darwinially sound.
But that's the coherent Darwinist philosophy, not the rugged individual libertarian sophistry for suckers which tells them how to morally evaluate things so that the rich are good and the poor bad.

[Anonymous No.15103169]

>>15095937
How do people get so far in debt.
>50k credit card debt
I've never even used a credit card in my life, nor do I even know how to use one. I don't even use it to loan money for crypto. I make about 50k a year and am living in fucking luxury, what the hell is wrong with you fucking people. No wonder wagies get laughed at so much.

[Anonymous No.15103208]

>>15103146
labor theory of value is dumb, your barely disguised marxist influence is dumb, you don't understand the underlying causes of why so many are having a hard time getting by, and you're a pseud but you'd make a good politician advocating for people who want gibs.

[Anonymous No.15103249]

>>15096088
checked and kek'd

[Anonymous No.15103254]

Got tired of Copypasting

[Anonymous No.15103255]

Gotta keep up with the Joneses

[Anonymous No.15103265]

>>15103254

[Anonymous No.15103281]

>>15103265

[Anonymous No.15103283]

Thank God I grew up poor so now I'm uppe rmiddle class I feel no need to do dumb shit like pretend I'm well off.

T. Net worth of $550,000 with no debt save a mortgage (88k kek) and drive a shitty dented up 2012 vehicle I bought used

[Anonymous No.15103286]

>>15103146
>My point is that in the modern capitalist society what people get paid has fuck-all relation to how hard they work, and increasingly little to how much they contribute to society. If anything the trend is that the more tangible and physical the work someone does the less they get paid and the more they get exploited.
Thorstein Veblen figured that out over a century ago.
> assign some kind of moral incorrectness to the state of people unable to find a means to pay for a reasonable life through work wanting to have a reasonable life.
The way we live is literally unsustainable. We need to reevaluate what we call "reasonable."

[Anonymous No.15103301]

>>15103208
Redpilled.

[Anonymous No.15103312]

>>15103281

[Anonymous No.15103321]

>>15103312

[Anonymous No.15103368]

>>15103208
>just yell pseud
Nice try but work on your reading comprehension.
First, I wasn't arguing labour theory of value, I was arguing against the idea underpinning pseudo-Darwinist "fuck the poor" ideology that says what people get is proportionate to what effort they put in. I don't know where you're getting the idea I'm arguing LTV. I was only saying that poverty as moral failing based on unwillingness to put in work is incorrect.
> you don't understand the underlying causes of why so many are having a hard time getting by
You explain it then. Unless you're saying that people are poor because they refuse to work hard, I don't see what you're arguing with me about (although I'm sure something could be found to argue about).

[Anonymous No.15103410]

>>15103321
The last page is just credits to the author and her contact info. Not worth the trouble.

[Anonymous No.15103458]

>>15103283
How old are you?
I'm 30, net worth $200k, and I also drive a shitty 2012 Mustang. My parents didn't buy me shit when growing up so I don't spend money frivolously.

[Anonymous No.15103463]

>>15103368
There are no poor in western countries. People just label themselves as poor to become the victim class and get sympathy and welfare. The "poor" today are obese. Think about that.

[Anonymous No.15103513]

>>15103458
>>15103283
Dunno how much of an impact growing up poor has. Some of the biggest spenders I know are people who grew up poor or lower middle class and then got big bucks, whereas those who grew up in wealthy families tend to have a much longer time horizon when it comes to money and want to invest (although there’s also plenty who are massively overleveraged through “investing”).
I think it has more to do with the actual values your parents teach you, along with your innate tendencies - mainly risk tolerance and low vs high time preference

[Anonymous No.15103567]

>>15103463
>There are no poor in western countries
There are. Is it only when there are famines you'll say there are poor?
"Poor" doesn't just mean unable to afford food to live on. It means being trapped in debt, unable to afford things like medicine and quality housing, unable to save money and having to live in constant economic insecurity, and lacking the resources to achieve aspirational, generational improvements in wealth like property ownership and higher education.
Is someone who has all of those problems poor or not?
And that's before taking into account the question of inequality and so relative poverty.

[Anonymous No.15103596]

>>15103283
I hope that half million is not in crypto, otherwise it might be wiped out fast.

[Anonymous No.15103616]

>>15103567
If you are not starving I don't fucking care about your problems. Time to take personal responsibility.
If you fuck your own life by making bad decisions its your own problem. I owe you nothing.

[Anonymous No.15103625]

>>15103567
The left always tries to redefine words to "win" arguments. Pathetic.

[Anonymous No.15103639]

>>15103368
>I was arguing against the idea underpinning pseudo-Darwinist "fuck the poor" ideology that says what people get is proportionate to what effort they put in.
That's a strawman dude, or a misunderstanding at least. Not the guy you're replying to, but when I say "hard work" I don't mean the kind that just increases entropy for its own sake. I obviously mean wealth creating, in the form of impactful good or services. Sure you can sweat it up cleaning toilet bowls from 8 to 5 for the rest of your life, doesn't mean you should be able to afford shit. Neither am I implying "fuck the poor". Don't ascribe some made up condescension to my argument to dismiss its foundations. I'm referring to natural selection in the capitalist sense, where successful ideas and businesses should take over the failures and get rewarded just like advantageous mutations provide a higher chance of survival. By giving these low IQ entitled brats access to cheap credit you're effectively leveling the playing field by debasing the value of such competitive endeavors.

[Anonymous No.15103670]

>>15095937
How do I have 250k in the bank, 740 score and can't even get approved for a second credit card. Seriously how the fuck do you open 8 fucking cards?

[Anonymous No.15103716]

>>15103616
>If you are not starving I don't fucking care about your problems. Time to take personal responsibility.
If someone is starving why would you help them?
>Time to take personal responsibility.
>If you fuck your own life by making bad decisions its your own problem.
Do you accept that there are people in poverty who are not morally culpable (however you want to define that) for their poverty?
Do you believe everyone's actual wealth is a reflection of their moral right to wealth?
Do you believe there is a moral right to wealth at all?

>>15103625
>redefine
I asked you to define the word you were using.
If you equate "poor" with "starving", you're the one redefining a word.

[Anonymous No.15103724]

>>15103146
thanks my guy

[Anonymous No.15103751]

>>15103670

Well, credit cards are essentially unsecured lines so assets aren't going to be looked at if they aren't collaterized. There's either something with your income or credit history usually.

[Anonymous No.15103779]

>>15103567
Looking forward to your junior year?

[Anonymous No.15103786]

>>15103458
36. Married with four kids.
>>15103513
Being poor taught me patience. And.growing up around other poor people showed me what not to do.
>>15103596
Only about 14k in crypto. I threw like $5k into it in 2017, so I'm still up.

[Anonymous No.15103788]

>>15095948
Ok is right

[Anonymous No.15103792]

>>15103716
If you want to help everyone in the world, fine, do it. Don't force me to help you. I just wanna live my life.

[Anonymous No.15103812]

>>15103779
>

[Anonymous No.15103813]

>>15097360
How'd you manage that anon? What are you doing to get rid of your debt?

[Anonymous No.15103819]

>>15103670
Little to no history. What was the credit card you tried to apply for?

[Anonymous No.15103829]

>>15097360
>Tfw make 80k and 90k debt at high interest.

[Anonymous No.15103891]

>>15096013
Hey, the government can do whatever they want thank to the strongest military in the world and massive influence. A wagie can't do shit except feed their overlords or face the consequences.

>>15095937
>nd then when the whole thing collapse every ten years
So bet on it. Have you learned nothing from /biz/? Although I feel you since there's such government manipulation. Do I really meme gold in this situation? I dunno.

[Anonymous No.15103895]

Fat shitskin wife is the problem. The debt is just a symptom.

Never get involved with a woman that is self proclaimed high maintenance. Dated a girl once that wouldn't even talk to you if you suggested she shouldn't wear $200 Lululemon leggings, even though she made barely above min wage. She probably had over 30k in credit card debt just from shoes, clothing, and other shit.

No idea how much student loan debt she had, but I imagine it was also ridiculous. She got married last year and I feel sorry for that fool. He's guaranteed a life of wagie usury to feed the beast.

[Anonymous No.15103906]

>>15103792
It's your choice as to how you think about life.
But economic reality doesn't care about how you feel, and extrapolating a framework from the idea of the "rugged individual" to describe how things do and should run won't work. The pre-existent individual may or may not pre-exist society, but their claims to ownership of scarce resources and the validity of those claims do not. Neither do any claims to right to ownership of scarce resources on moral grounds automatically preclude the validity of claims to access or redistribute those resources on moral grounds. And unless you're some kind of Jeffrey Epstein it's probably tactically foolish to make a claim to "right" of ownership on amoralist grounds.

[Anonymous No.15103924]

>>15103895
>Dated a girl once that wouldn't even talk to you if you suggested she shouldn't wear $200 Lululemon leggings, even though she made barely above min wage.
How'd you find such a girl? She must have been hot as hell.

[Anonymous No.15103976]

>>15103906
This doesn't make you sound smart or empathetic. Try again.

[Anonymous No.15103990]

>>15095937
>50k in credit card debt

There's your problem. Credit cards have insane interest rates.

[Anonymous No.15104124]

>>15103976
yes it does otherwise you wouldn't have come up with those words to "nuh uh" at me
also it's true which makes how you feel about it irrelevant
night

[Anonymous No.15104141]

>>15104124
Good luck in life. You are going to need it.

[Anonymous No.15104372]

>>15104124

You sound fucking retarded

[Anonymous No.15104389]

>>15095937
>and $50,000 across eight credit cards
On fucking what?

270k mortgage isn't terrible, 51k in student loans is alright for their income, and 18k for cars would be fine if it's for 2 cars

[Anonymous No.15104396]

>>15104389
>>15095937
Just noticed that they don't have the same last name. LOL!

[Anonymous No.15104430]

>>15095937
>$18,000 in auto loans
>$50,000 across eight credit cards
Holy shit they're retarded

[Anonymous No.15104446]

>>15097937
You don't know how important a credit score is

[Anonymous No.15104455]

>>15098623
I'm 19 and make $50k a year waking up at 2 pm and eating tendies while games I made 4 years ago accumulate players and revenue.