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/biz/ - Business & Finance


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17982777 No.17982777 [Reply] [Original] [archived.moe]

>Nearly 1 in 3 Americans aren't confident they'll be able to keep a roof over their head if a recession hits
who else /saving their cash reserves for cheap land/ here?

>> No.17982784

>>17982777
what if the printer goes brrrrrr
how will cash do

>> No.17982806

the prols, especially American, bitch and moan no matter how good they have
>the presitigous universities are too expensive
>ok, i got that but student loan, the best in the world, is too expensive
>ok i paid that off, but the houses are too expensive. Nah I want a house.
>ok i got that too, but what if...

basically, theyre living in the top 0.01% of the world, and they complain.

Meanwhile, people that actually lose their homes are so rare, that each gets their own tv report.

>> No.17982821

WTF WHY COULD THIS HAPPEN A FEW YEARS AGO WHEN I WAS IN COLLEGE. ALL MY SAVINGS AND INVESTMENTS WERE ALL FOR NOTHING.

>> No.17982832
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17982832

>>17982806
This. You can't be poor and american. Acess to best stocks, buttcoin costs the same in US and 3rd world (actually venezuelans pay more), boomer rocks with less premiums, consumer goods like electronics and clothes cost around the same in eastern europoor country. Oh and free trumpbux.

>> No.17983177

>>17982777
What, they didn't buy Link at 20 cents or BDK at $0.08? Stay poor, Muricans.

>> No.17983232

>>17982777
>So many people with less than 500 in savings
>Literally get warned about this several times a year for decades
>Still do nothing about it
You have to let these people fail. The only alternative is to massively expand government control and get assraped as a consequence.

>> No.17983242

>>17983232
Rent is up nearly 50% in the past 9 years. Every year your rent is raised.

>> No.17983252

>>17982777
Why has nobody learnt anything from the last recession? You can't even say it's a generational thing as it was barely 12 years ago.

>> No.17983259

>>17983242
Meanwhile, wages only increase 2% max unless you're in middle management and higher. People can't save monthly because they work enough as it is and cope with being a wagekek by blowing their money so they dont blow their headoff

>> No.17983304

Its going to be worse when food goes up 5-10x in price and rent doubles or triples. You may think you have a good emergency fund saved up, but its going to wiped out by the bailouts they're handing out. Especially if you rent. They are talking a multi-trillion stimulus and probably doubling the deficit. RIP dollar. I have half my emergency fund in gold and 25% in bitcoin. I am worried about my family members though. Thanks, Trump.

>> No.17983362

>>17982832
This. I wish I wash born in the US. I'm from South America, and we make much much less money, the job market is not bad but not good enough like in America, I wanted to invest in the stock market but most local brokers are shit (high fees, etc), so I had to look up an american one. Our economic mobility is very low and most of the products that I want to buy I have to order them from America. Also, the fact that english is your native language is a HUGE advantage. Knowing english is one of the most important predictors on getting a higher income, and you have access to everything you want in the internet. Also it's much easier to sell to americans than anyone in the world, If I wanted to start an online business, selling to local people is very hard because very few have disposable income to buy random shit. We also don't get offered as many options (credit cards, loans, etc). I couldn't even get a fucking visa till I was 24 years old.

>> No.17983387

>>17983259
>cope with being a wagekek by blowing their money
>>17983242
>Rent

Imagine being this bad with money

>> No.17983413

>>17983362
>I couldn't even get a fucking visa till I was 24 years old.
Should have been till you were 64.
This we are a country not some economic playground

>> No.17983484

>>17983304
rents are going to lower because no one will be able to afford them

economy slowing down means deflation

>> No.17983510

>>17982777
>/biz/
>cash reserves
Checked and kek'd

>> No.17983511

>>17982832
Canada is better. We got all the perks of cheap products but we have free healthcare and whites arent the minority unlike in Niggerland

>> No.17983538
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17983538

>>17983511
>cheap products
I've seen your grocery bill, leaf

>> No.17983560

>>17983484

Of course they can afford them, they're getting $1000 trump bux in the mail. But there are the same amount of housing available, actually less now that production is shut down, so every trump bux funded renter will be bidding the prices up.

People thinking this is going to be a deflationary recession are thinking of credit crunches like 2008, where you had a huge retraction of credit. This time we are going to have the opposite, a huge expansion of credit, an expansion of the money supply, combined with a decrease in production due to corona. Its the perfect recipe for hyperinflation.

>> No.17983570

>>17982777
Checked and based cash lad.
>>17983252
Most people are immeasurably irresponsible. They lack the mental fortitude to save and even the basic logic that although things are good at one point, they can become bad in the future. A recession (even one caused by chinkflu) isn't some totally unprecedented or unforeseeable event. People my age grew up in one. Even without a recession, things happen. You could get hurt and lose income for a time. Point is, people should have been prepared. They didn't learn in 08 or by seeing natural disasters on TV and they won't learn now.
OP has the right idea. You can't fix stupid, but you can buy stupid's house once they get foreclosed on.

>> No.17983598

>>17983511
Based leaf
>>17983570
>You can't fix stupid, but you can buy stupid's house once they get foreclosed on.
Based

>> No.17983613

>>17982806
It's all about money here. If you chase $$, its good. For less stress, def not the best place to be.

>> No.17983616

>>17982806
Ok boomer.

>> No.17983641

>>17983538
Yeah but our minimum wage is 4$ higher on average

>> No.17983668

>>17982832
Homelessness is at an all time high

>> No.17983742

>>17983641
But your dollars are worth 75% of us dollars

>> No.17983752

>>17983560
i agree with you, and on the other hand there's gunna be a recession maybe even a depression, and when that happens the dollar (and yen) are perceived as safe havens.
not sure how we can hedge against this though...land and property if and when the price comes down from these ath we're seeing now?

>> No.17983783

>>17982806
>dude just accept your lot in life make lemonade lmao

>> No.17983786

>>17983742
True but the us dollar is a joke

>> No.17983842

>>17983786
Trudeau is a joke

>> No.17983893

>>17982777
Good.
Fuck real estate and rent markets.

>> No.17983917

>>17983362
America is overrated. If you only admire us for ez access to excess materialistic junk then that's pretty sad because it's honestly fake and gay and the chase never stops because here someone will always shame you for not having a bigger house with more stuff or a newer car and all they do is waste, waste, waste and it's sickening and morally and spiritually bankrupt. I'm actually planning to leave America as soon as this quarantine is up. Being with 100 miles of a Costco makes me physically ill.

>> No.17983921

>>17983842
We got our legal weed that's the only reason we elected him. And hell be remembered hundreds of years from now just because of that.

>> No.17983962

>>17982777

My family owns 300 acres out in bum fuck nowhere Arkansas. They want to give it to someone that’ll do something with it. What can I do out in the middle of nowhere?? This is originally hunting grounds and rented out to farmers but they all died.

>> No.17983983

>>17983362
>I wish I wash born in the US. I'm from South America
Don't you all...

>>17983413
>we are a country not some economic playground
Wrong. Economic playground and sodom and gomorrah

>> No.17984176

>>17983962
Homestead bro. Raise livestock and vegetables. Cattle and/or sheep. American grass fed lamb can actually get you a nice little premium right now. Start a subscription service and sell direct or sell wholesale.

Check out Joel Salatin.

>> No.17984319

>>17983511
Wages in every industry is lower than in America. We pay more in taxes. Everything is more expensive. I haven't seen a doctor in decades because the process is so convoluted and rationed. Our housing and rents are inflated. Jobs are shit. Canada doesn't even have a true high tech sector. We're going to go down with oil and never fully recover. We're bringing more immigrants per capita than nearly everywhere on Earth and it's still increased every year. They're all on gibs. More than half the people in Toronto aren't even born in Canada ffs.

People can have it bad in the US, but you're also given more opportunity for success than anywhere else. In most places, there is much harder ceiling to break to "make it".

>> No.17984327

>>17982777
Good
Poor people should starve

>> No.17984366

>>17983641
Doesnt mean the middle class earns more.
>>17983786 our dollar is worth .69USD
Canada has some serious fucking problems. I hate when you Ontario urbanites post on here as if you have a fucking clue about this country.
t. Prairie boy

>> No.17984393

>>17984366
I live in the maritimes and just bought a 4 bedroom house for under 100k

>> No.17984417

>>17983962
Farm, hunt, run cattle. That or lease it out to someone who will do one of those things. I have 80 acres that I allow my family to run cattle on in exchange for upkeep, tons of beef, and enough money to pay property taxes.

>> No.17984438

>>17982832
>You can't be poor and American
He says while I'm fucking freezing waiting for the next freight train I can hop on my way to fucking anywhere that's not this city

>> No.17984480

>>17982806
I can't wait for society to collapse so I can rob people like you.

>> No.17984482

>>17984438
Bro that's bleak. You're a literal hobo. What's up with that?

>> No.17984485

>>17984438
>freight train
Do american's don't have busses?

>> No.17984488

>>17982777
The truth, of course, is that the recent economic growth was based on most of the population spending without care.
You have whole industries based around tricking people to buy things they don't need with money they don't have (it is, for example, the only thing Silicon Valley does those days).
If Joe on the street saved money instead of buying buying buying the economy would be way worse.

>> No.17984509

>>17984485
Greyhound is cutting service. Also weird ID.

>> No.17984528

>>17984488
>the only thing Silicon Valley does those days
Don't be silly, you can't buy anything from silicon valley, you can only rent and stream

>> No.17984535
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17984535

>>17984509
>weird ID
Prophetic for /biz/

>> No.17984537

>>17982784
time for you to go back to the bottom of the rock.

>> No.17984568

>>17984528
They trick you into buying other people's stuff. Advertising is the true money maker of all internet based companies. Whatever they produce ads, run ads or sell data to companies that make ads.

>> No.17985258

>>17982777
Absolute state of Amerisharts

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