Jump to content
House Price Crash Forum
TheCountOfNowhere

14 Signs That Most Americans Are Flat Broke And Totally Unprepared For The Coming Economic Crisis

Recommended Posts

Saw this and clicked on the link:

http://www.talkmarkets.com/content/14-signs-that-most-americans-are-flat-broke-and-totally-unprepared-for-the-coming-economic-crisis?post=59472&utm_source=outbrain&utm_medium=referral

" #7 One survey discovered that 52 percent of all Americans really cannot even financially afford the homes that they are living in right now."

Share this post


Link to post
Share on other sites

Saw this and clicked on the link:

http://www.talkmarkets.com/content/14-signs-that-most-americans-are-flat-broke-and-totally-unprepared-for-the-coming-economic-crisis?post=59472&utm_source=outbrain&utm_medium=referral

" #7 One survey discovered that 52 percent of all Americans really cannot even financially afford the homes that they are living in right now."

and look at:

#12 It is estimated that less than 10 percent of the entire U.S. population owns any gold or silver for investment purposes.

#13 48 percent of all Americans do not have any emergency supplies in their homes whatsoever.

#14 53 percent of all Americans do not even have a minimum three day supply of nonperishable food and water in their homes.

I think that tells you all you need to know about the mentality of the person hosting this blog. Which is not to say that there is not a problem . An it probably applies equally to the UK, e.g. with respect to what proportion of the population have savings that would keep them for 3 months, and/or could lay their hands on $1,5000 immediately.

Share this post


Link to post
Share on other sites

and look at:

#12 It is estimated that less than 10 percent of the entire U.S. population owns any gold or silver for investment purposes.

#13 48 percent of all Americans do not have any emergency supplies in their homes whatsoever.

#14 53 percent of all Americans do not even have a minimum three day supply of nonperishable food and water in their homes.

I think that tells you all you need to know about the mentality of the person hosting this blog. Which is not to say that there is not a problem . An it probably applies equally to the UK, e.g. with respect to what proportion of the population have savings that would keep them for 3 months, and/or could lay their hands on $1,5000 immediately.

Do you know what scared me a little yesterday? Finding out how few people have more than £1000 in savings. My wife was not surprised by it somehow, but it blew me away. Unemployment and a gearbox issue and you're wiped out, completely.

As for not having non perishables in the house, that's kind of been drummed into me from the 70's growing up when we'd have lots of power cuts, so we always have enough food for a few days, that just makes sense and not in an armageddon kind of way, as 3 days food in an armageddon scenario means nothing, it just makes sense. Few tins of tuna, toms, dried pulses, UHT milk. Always done it and I have never owned a tin foil hat.

One line from the budget - "for the 95% of the uk with less than £1000 savings this is great news". 95%? Wow, blew me away.

Share this post


Link to post
Share on other sites

Do you know what scared me a little yesterday? Finding out how few people have more than £1000 in savings. My wife was not surprised by it somehow, but it blew me away. Unemployment and a gearbox issue and you're wiped out, completely.

As for not having non perishables in the house, that's kind of been drummed into me from the 70's growing up when we'd have lots of power cuts, so we always have enough food for a few days, that just makes sense and not in an armageddon kind of way, as 3 days food in an armageddon scenario means nothing, it just makes sense. Few tins of tuna, toms, dried pulses, UHT milk. Always done it and I have never owned a tin foil hat.

One line from the budget - "for the 95% of the uk with less than £1000 savings this is great news". 95%? Wow, blew me away.

I think they meant savings interest, no? After all it is that limit which will now be non-taxable.

Share this post


Link to post
Share on other sites

No, they actually listed the savings. Last week there was a BBC report saying average household savings had gone up from £375 to £410 in the UK.

I can't actually believe it to be honest, that little? Surely people have more. I poop my pants if we're below £20k in savings as I always want to have enough to be able to sit out a year (self employed as such).

Share this post


Link to post
Share on other sites

and look at:

#12 It is estimated that less than 10 percent of the entire U.S. population owns any gold or silver for investment purposes.

#13 48 percent of all Americans do not have any emergency supplies in their homes whatsoever.

#14 53 percent of all Americans do not even have a minimum three day supply of nonperishable food and water in their homes.

I think that tells you all you need to know about the mentality of the person hosting this blog. Which is not to say that there is not a problem . An it probably applies equally to the UK, e.g. with respect to what proportion of the population have savings that would keep them for 3 months, and/or could lay their hands on $1,5000 immediately.

Both the UK and US are in an equally terrible position.

Share this post


Link to post
Share on other sites

I go over the border a lot, and my feeling about the US is that because the property market has had its crash, they are through the worst. People in jobs and who are reasonably well paid, are having it good, those on the margins are screwed, and there are a fair few, but not enough to cause a civil unrest issue given the power of the police and the army. There is a lot of poverty, and that probably comes through in "average" statistics, but overall I think the yanks will trundle along the bottom for another few years, weather the European and Chinese crises, then really start to take off again. I look at Detroit as the classic example. The city has been hollowed out, they are now planning for a lower population, and regenerating some parts of the city. Other parts are still war zones, but they will slowly diminish, and yet other parts are still very wealthy. I have a colleague who works for GM, they live in a great suburb and have never had it so good.

Another thing about the US since 9/11 is that they increasingly look to trade within the Americas, and in the instance that everything goes horribly wrong in the Middle East, have sufficient energy and other raw material supplies to not worry. The tin foil hat people have had their day.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   68 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.