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69 Percent Of Americans Do Not Have An Adequate Emergency Fund

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Do you have an emergency fund?  If you even have one penny in emergency savings, you are already ahead of about one-fourth of the country.  I write about this stuff all the time, but it always astounds me how many Americans are literally living on the edge financially.  Back in 2008 when the economy tanked and millions of people lost their jobs, large numbers of Americans suddenly couldn’t pay their bills because they were living paycheck to paycheck.  Now the stage is set for it to happen again.  Another major recession is going to happen at some point, and when it does millions of people are going to get blindsided by it.

Despite all of our emphasis on education, we never seem to teach our young people how to handle money.  But this is one of the most basic skills that everyone needs.  Personally, I went through high school, college and law school without ever being taught about the dangers of going into debt or the importance of saving money.

If you are ever going to build any wealth, you have got to spend less than you earn.  That is just basic common sense.  Unfortunately, nearly one out of every four Americans does not have even a single penny in emergency savings…

Bankrate’s newly released June Financial Security Index survey indicates that 24 percent of Americans have not saved any money at all for their emergency funds.

This is despite experts recommending that people strive for a savings cushion equivalent to the amount needed to cover three to six months’ worth of expenses.

For years, I have been telling my readers that at a minimum they need to have an emergency fund that can cover at least six months of expenses.  It is great to have more than that, but everyone should strive to have at least a six month cushion.

Unfortunately, that same Bankrate survey found that only 31 percent of Americans actually have such a cushion

The June survey also found that 31 percent of Americans have what Bankrate considers an ‘adequate’ savings cushion — six or more months’ worth of money to pay expenses — which means that nearly two-thirds of the country isn’t saving enough money.

That means that a whopping 69 percent of all Americans do not have an adequate emergency fund.

So what is going to happen if another great crisis arrives and millions of people suddenly lose their jobs?

Just like last time, mortgage defaults will start soaring and countless numbers of families will lose their homes.

If you do not have anything to fall back on, you can lose your spot in the middle class really fast.  And in the case of a truly catastrophic national crisis, trying to operate without any money at all is going to be exceedingly challenging.

Just recently, the Federal Reserve conducted a survey that discovered that 44 percent of all Americans do not even have enough money “to cover an unexpected $400 expense”.

That is almost half the country.

And a different survey by CareerBuilder found that 75 percent of all Americans have lived paycheck to paycheck “at least some of the time”.

Unfortunately, in a desperate attempt to make ends meet many of us continue to pile up more and more debt.  According to Moneyish, Americans have now accumulated more than a trillion dollars of credit card debt, more than a trillion dollars of student loan debt, and more than a trillion dollars of auto loan debt.

We’ve racked up $1 trillion in credit card debt — and that’s just a fraction of what we owe. That’s according to data released this year from the Federal Reserve, which found that U.S. consumers owe $1.0004 trillion on their cards, up 6.2% from a year ago; this is the highest amount owed since January 2009. What’s more, this isn’t the only consumer debt to top $1 trillion. We now also owe more than $1 trillion for our cars, and for our student loans, the data showed.

Overall, U.S. consumers are now more than 12 trillion dollars in debt.

We often criticize the federal government for being nearly 20 trillion dollars in debt.  And that criticism is definitely valid.  What we are doing to future generations of Americans is beyond criminal.

But are we not doing something similar to ourselves?

When you divide the total amount of consumer debt by the size of the U.S. population, it breaks down to roughly $40,000 for every man, woman and child in our country.

When someone lends you money, you have to pay back more than you originally borrow.  And in the case of high interest debt, you can end up paying back several times what you originally borrowed.

If you carry a balance from month to month on a high interest credit card, it is absolutely crippling you financially.  But many Americans don’t understand this.  Instead, they just keep sending off the “minimum payment” every month because that is the easiest thing to do.

If you ever want to achieve financial freedom, you have got to get rid of your toxic debts.  There are some forms of low interest debt, such as mortgage debt, that are not going to financially cripple you.  But anything with a high rate of interest you will want to pay off as soon as possible.

And everyone needs a financial cushion.  Unless you can guarantee that your life is always going to go super smoothly and you are never going to have any problems, you need an emergency fund to fall back on.

Yes, you may need to make some sacrifices in order to make that happen.  Nobody ever said that it would be easy.  But just about everyone has somewhere that a little “belt tightening” can be done, and in the long-term it will be worth it.

When you don’t have to constantly worry about how you are going to pay the bills next month, it will help you sleep a lot easier at night.  Many of us have put a lot of unnecessary stress on ourselves by spending money that we didn’t have for things that we really didn’t need.

And now is the time to get your financial house in order, because it appears that another major economic downturn is not too far away.

 
  • Bill

    Toxic debt began in 1913 with the creation of the Federal Reserve. It will end when it is dissolved.

    • aldownunder

      SoCalBeachDudes gunna be all over your ass for saying that

      • SoCalBeachDude

        Yes, because it is a totally false and stupid assertion that shows zero comprehension as to the Federal Reserve which you and he should learn about at:

        http://www.FederalReserve.gov

        • GSOB

          Congress voted on the Federal Reserve Act on December 22nd, 1913
          between the hours of
          .
          .
          .
          .
          1:30 AM and 4:30 AM.

          • SoCalBeachDude

            Back in the day, Congress worked hard and long to MAKE AMERICA GREAT!

          • GSOB

            of course…. so that today, the Federal Reserve has more power over the performance of the U.S. economy than anyone else does, and that includes the President.

          • SoCalBeachDude

            Laughably false and utterly clueless and bogus assertions. Get a clue, dude.

        • unbiased

          Is that link where I can find unbiased information on the Federal Reserve?

          • SoCalBeachDude

            At exactly the link I provided above.

          • South Texas

            SoCalBeachDude, I think the sun baked your head out at the beach. You are are too stupid to have an opinion. The Federal Reserve is the problem.

          • SoCalBeachDude

            And just why do you “think” that the Federal Reserve is even the slightest bit of any problem at all? Please do tell.

        • GSOB

          And, do you have an emergency fund?

          • SoCalBeachDude

            No, why would anyone with significant resources have anything designated as an “emergency fund?” People with means simple keep many tens of thousands of dollars in their checking and savings accounts available for whatever purposes are desired.

          • Stuey

            He lives off of trust funds and has all his life. He lives in a mansion in Beverly Hills, so his emergency fund is his trust funds. That’s funds with an “s”. And if he has any problems in his neighborhood he calls the police and they handle it. He is privileged but thinks the middle class scums make too much money.

    • SoCalBeachDude

      Absolutely and laughably false. The Federal Reserve does not create any debt at all and owes no debt to anyone and rebates more than 94% of its annual profits each year to the US Treasury which now amount to nearly $100 billion a year making it the largest single entity contributor to US government revenues each year.

      • GSOB

        The truth is that it is a privately owned, financial institution, designed to ensnare the U.S. in an endlessly expanding spiral of debt, from which there is no escape

        • Joe Trevors

          The central banks are buying more stocks than anyone else? In a way you could say quantitative easing is continuing even more than before but under another name?

          • SoCalBeachDude

            Absolutely false. The only 2 central banks that even buy any stocks at all are the SNB and the BOJ and they own very little in the way of stocks relative to the size of the equities (stock) markets.

          • GSOB

            Which stocks? Central banks all over the world buy stocks. Follow the money… it’s a hunt for returns..

          • SoCalBeachDude

            The Federal Reserve did no such thing at all and is prohibited from owning any shares in companies (stocks). 100% of the Federal Reserve QE funds ALWAYS REMAINED FULLY INSIDE THE FEDERAL RESERVE as I have stated many times.

          • Perplexed Pete

            If this is true, why does the privately-owned FED resist all attempts at audits and transparency?

          • SoCalBeachDude

            No, the Federal Reserve operates totally transparently and is the most open central bank in the world as to what it does and everything is fully disclosed – including the minutes of the FOMC policy meetings – at:

            http://www.FederalReserve.gov

            Each and every year, as has been the case for 100+ years, the Federal Reserve issues FULLY INDEPENDENTLY AUDITED Annual Financial Statements which are extremely detailed and run around 500 pages each year. They are fully publicly available for you and anyone else who is interested in them to fully read and review at:

            http://www.federalreserve.gov/publications/annual-report/

            What more does anyone want to know?

            The Federal Reserve does not cost the US government and taxpayers a single penny and is the LARGEST SINGLE PAYER OF REVENUES TO THE US GOVERNMENT each year and those rebates now amount to around $100 billion a year.

        • SoCalBeachDude

          Absolutely false, and the Federal Reserve does not do any dealings with anyone other than its members banks and is a CREATION OF CONGRESS and is fully ANSWERABLE TO CONGRESS and REBATES MORE THAN 94% OF ITS ANNUAL PROFITS TO CONGRESS. I would suggest that you learn about the Federal Reserve at:

          http://www.FederalReserve.gov

        • MathCapitalist289

          If the treasury issued currency, that would present a conflict of interest, for T-bill interest rates could be set at say, maybe a basis point less than inflation, thereby causing bond investors to lose money–if they had invested in AMZN, they would be quite wealthy. Of course, such thievery would only occur as little blips.

          Also, perhaps more importantly, private ownership of the FED rids monetary policy of political rhetoric and idiocy so apparent in political parasites. They remove the incentive to steal through institutionalized thievery, called taxation, because they are disconnected from tax policy for the most part; even if they did have a say in tax policy, private ownership would actually incentivize the FED to lower taxes.

          Privately owned enterprise, and other institutions, are in fact accountable to the government, but are given freedom to make sound, rather than political, decisions.

          • SoCalBeachDude

            Amazon shares are not fundamentally worth even 3% of what they are trading at and need to fall 97% just like Sears has done over the past 10 years to get back to any sort of proper fundamental valuation.

            The Federal Reserve has nothing whatsoever to do with federal taxes at all. Taxes are necessary to fund any and all governments and is certainly not in any way “institutionalized thievery” as you falsely purport.

      • JC Teecher

        REbates?

        What a poor use of the English language.

        The truth of the matter is that the FedRes has no profits or assets, but is a manipulator of currency.

        the currency that the USSAG gov prints, hands over to the FedRes, of which they take huge slices off of for their private payrolls and huge bonuses, and then sells it back to the USSAG at an interest rate that affects markets, and economies, not only of America, but also of the world. The shadow gov has the Fed Res in it’s back pocket in order to play the big ponzi scheme on innocent people.

        When has anyone taken out a personal loan from the Fed Res? Yet they claim that American citizens owe the security holders about $40k each.

        Imagine being conceived in a womb that is now the most risky place to live on the face of the planet, because of abortion; and if you are lucky enough to grow and pass through the birth canal and gasp for polluted air from the get go, you are then saddled with an automatic debt of $40 k?

        • SoCalBeachDude

          Your utter ignorance is just totally beyond mind boggling. The Federal Reserve indeed REBATES MORE THAN 94% OF THE PROFITS IT EARNS EACH YEAR TO THE US TREASURY FOR THE BENEFITS OF GOVERNMENT TAXPAYERS and has done so for the entire 103+ years of its existence.

          The bulk of the Federal Reserve’s profits these days come from its $4.4 trillion ASSET PORTFOLIO which is comprised of around $2.5 trillion in US Treasuries with most o the rest in MBS instruments. The rebate of the earnings on those makes the INTEREST ESSENTIALLY FREE TO THE US GOVERNMENT ON THE US TREASURIES OWNED BY THE FEDERAL RESERVE which are around 14% of all outstanding US Treasuries.

          As the Federal Reserve SHRINKS ITS BALANCE SHEET over this year and next by around 50% by the end of 2018, the rebate to the US Treasury will fall accordingly which will make the deficit increase further and the cost of the US government carrying debt higher.

      • sister soldier

        The Federal Reserve banking system was created in iniquity and born in sin.

        ” I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. As a result of the war (or rather the implementation of wars), corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands, and the Republic is destroyed. I feel at this moment more anxiety for the safety of my country than ever before, even in the midst of war. God grant that my suspicions may prove groundless.” – President Abraham Lincoln

        A bit of prophet wouldn’t you say?

        • GSOB

          Do you have an emergency fund?

          • sister soldier

            Yes Sir! And a rainy day and a mad money =)

          • SoCalBeachDude

            No.

        • SoCalBeachDude

          Laughably false and Abraham Lincoln was deceased more than 50 years prior to the creation of the Federal Reserve. One of the biggest reasons it was created as to SMOOTH OUT ECONOMIC CRISES which had been happening since prior to the birth of America in 1776 and which have continued right up to present even with the Federal Reserve.

  • SoCalBeachDude

    5 Facts That Prove Many American’s Don’t Know Anything About How to Manage Money

    24% of Americans don’t have single dollar saved for emergency…

    https://moneyish.com/ish/5-facts-that-prove-americans-dont-know-anything-about-managing-money/

    • aldownunder

      Whoopi dooo we just read M’s article

      • SoCalBeachDude

        Both cover the issue quite well with further nuances from the article above which are helpful.

        • aldownunder

          If you don’t think M’s article covers the subject sufficiently maybe you should start your own blog

          • SoCalBeachDude

            Have you carefully read both articles? They are two quite different takes on the issue as to why so many Americans have so little in the way of saved resources. Please contrast and compare and then report back with your homework assignment!

          • aldownunder

            No I have read M’s and that will do me on the subject
            Thankyou

          • SoCalBeachDude

            All good students learn how to contrast and compare. You get an F for not even trying to do your homework assignment!

            I’ll give you the CliffNotes version. The author here essentially says the reason is because so many good jobs have been lost and jobs don’t pay very much, whereas MoneyWise says that are 5 key areas where many Americans totally fail to manage their money properly. Both views are very true, and are part of the big picture personal financial issues these days for many – but certainly not all – Americans.

          • aldownunder

            Maybe you need to get some of that saltwater drained from around your brain its half pickled dude

          • SoCalBeachDude

            Apparently you are describing YOURSELF once again, and that sounds rather sad.

          • JC Teecher

            aldownunder, with due respect, that is assuming he had half a brain to begin with.

          • GSOB

            Read the Bible

          • interesting

            Teacher, teacher, I read them both. Can I go outside and play now? This class warfare is boring. Maybe a better teacher could keep it more interesting.

          • JC Teecher

            Somebody call my name? just kidding.

          • sister soldier

            No.

          • JC Teecher

            Oh come on sister, you know you still think about me sometimes, and say what if. lol

          • SnodtBlossom

            Sis, he gave me an upvote & he’s getting chummy w/you..
            Senility is kicking in.

          • JC Teecher

            There is no senility, I can guarantee you that as I am seeing things more clearly now than I have over the past 20 years.

            Living with the influence of the Holy spirit will do that to a person seeking TKU.
            I can be chummy with my enemies, but I also know how to keep them at arms length, because given the opportunity they will bite when your back is turned.

          • TOUJOURS DEMAIN

            A little diversity in sources of information can never hurt.

          • diversity

            Diversity? right. you mean posting links from main stream media outlets and defending them as irrefutable fact. Because those sources have no bias. He’s not a journalist. Narcissistic copy and paste poster.

          • TOUJOURS DEMAIN

            SoCalBeachDude gives his opinion with supporting links and some cut and paste. Isn’t that what Mlke does when he writes an article.

          • SoCalBeachDude

            Indeed, and that is what truly good and great journalism is all about.

        • sad

          Nuances? You act as if you’re selling a fine wine. It must be difficult, assessing your self worth by the amount of up votes you get.

          • SoCalBeachDude

            Nuances are interesting and important and help folks to understand the true and complete BIG PICTURE of things.

          • GSOB

            …..the U.S. being 20 trillion dollars in debt, it is the biggest mountain of debt in the history in her history thus far,
            and it didn’t have to happen …..but it continues on through to economic collapse, there
            beachhead,
            FRB boy.

          • SoCalBeachDude

            The Federal Reserve did not run up a single penny of the $20 trillion in government debt run up by the US Congress and White House and that is 100% the fault of the Congress and the White House and not i9n any way even slightly the responsibility of the Federal Reserve. I would suggest you learn about what the Federal Reserve is and does at:

            http://www.FederalReserve.gov

    • TOUJOURS DEMAIN

      You posted your above link a little over 9 hours ago on Mlke’s last article, which was about 6 hours before this current article came to be.

      I still think you are instrumental in influencing some of Mlkes topics.

      Nothing wrong with that though.

      • eerie

        Coincidence? I still think there may be a link between the one that must not be named and the dude. Maybe he works for the blog.

        • TOUJOURS DEMAIN

          Anything is possible but my guess is no.

          • SoCalBeachDude

            100% correct!

          • HeyAHuman

            Why can you post links and nobody else?

          • SoCalBeachDude

            Lots of other people post links all the time here including df NJ.

          • HeyAHuman

            Lies.

          • SoCalBeachDude

            Only on YOUR PART, dude. Get a clue.

          • folly

            he always need to get the last word in. you’re not going to win an argument with a fool.

          • JC Teecher

            ScBD doesn’t follow the belief that:

            “It is better to keep your mouth shut, and appear to be stupid, than open it and remove all doubt.”

          • SoCalBeachDude

            Hardly, but that sure does describe YOU.

          • Stuey

            I disgrace him all the time, it is easy.

          • SnodtBlossom

            you are the laugh

          • Stuey

            Yeah, i crack a lot of jokes at the expense of drugheaddude, glad you have noticed!

          • SoCalBeachDude

            You make a FOOL of yourself all the time.

          • HeyAHuman

            Why can only he post links?

          • SoCalBeachDude

            Anybody can post links here. If you are posting dodgy links, though, that is likely the problem. Try posting credible links.

          • HeyAHuman

            Every single time I’ve tried, my post has been flagged and deleted. Yours aren’t even flagged. Others say the same. I never see others post links.

          • SoCalBeachDude

            My posts are always excellent with highly credible links. Apparently yours are not.

          • HeyAHuman

            Wrong. I tried Market Watch, your favorite. Flagged and subsequently deleted. You’re obviously a fill-in for Big M… Since these are necrotic, dying threads.

          • HeyAHuman

            Something to keep the illusion that people are really discussing things here lol…

          • SoCalBeachDude

            That is exactly what most of us are doing here! How would you even know about real things from that little tiny town of Asheville, North Carolina in the middle of nowhere?

          • TOUJOURS DEMAIN

            Ashville is a beautiful area. Not Beverly Hills though. Maybe that is what gives it its beauty. 🙂

          • Stuey

            Now you are being homophobic talking about Asheville like that!! So now i can add homophobic to your resume along with anti-semite and racist.

          • SoCalBeachDude

            Huh? Where do you come up with nonsense such as that which has nothing whatsoever to do with my comment?

          • HeyAHuman

            I’m from Orlando FL. I moved here. I’ve been through a LOT my friend..

          • SoCalBeachDude

            Laughably false.

          • SnodtBlossom

            The author controls the site, not SoCal
            There are automatic filters, and then at leisure the author applies his own

          • SoCalBeachDude

            Indeed. I hope your weather is great these days in Florida. We’re getting a bit warm here these days in SoCal.

          • SnodtBlossom

            Rainy season, but we get out earlier than most so I’m all happy at home while it’s thundering now

          • JC Teecher

            Well, H>A>H>, when you have carte blanch posting, you can do that, but, first; you must sign an agreement with the left’s deep state handlers, in order to be on the “free pass” list.
            In other words, sell your soul.

          • Stuey

            He is on the “inside” here.

          • TOUJOURS DEMAIN

            If I owned this blog, I would tell you. Ask the blogs owner.

        • HeyAHuman

          He obviously is a paid shill. He’s the only poster here who can post links.

          • SoCalBeachDude

            Ludicrously and absurdly false.

          • HeyAHuman

            Shill is a shill.

          • SoCalBeachDude

            Facts are facts and you appear to not like the actual facts at all. Pitiful.

          • LIZ THE SHIZ

            shill out dude, it’s all click bait

          • SnodtBlossom

            I can post links

          • SoCalBeachDude

            So can nearly everyone else. I really don’t know what some of these folks are even blathering on about regarding links.

          • TOUJOURS DEMAIN

            I can not post any link of any kind without it always immediately going into hold for approval.

            So what ! I just don’t post links. I have more important things to think about like, should I drink 2% milk or skim.

          • Stuey

            Drugheaddude says drink whole milk it is better than that weak 2%. And eat lots and lots of doughnuts and stale bread, it is really good for you!

          • SoCalBeachDude

            Absolutely false.

          • Stuey

            Yep, the cat is out of the bag. He admitted he makes money from people clicking on his links.

          • SoCalBeachDude

            Absolutely false. Are you seriously that deluded, dude? That post was not from me at all, but rather from a poster with an entirely different name. Can’t you even read?

        • SoCalBeachDude

          Nope. Pure pro bono.

        • SnodtBlossom

          there’s no reason why the author would particularly favor him, except that SoCal is smart,likes the prez,dint like Clinton & doesn’t spout off obscenities like many of his creepy lil folowers do.

          • SoCalBeachDude

            Hellery is really quite a piece of work, but now it is clear that Dufus Donnie is just as bad of a piece of work. Just pitiful.

          • Stuey

            You just think, you voted and campaigned for him. You must feel really bad, do you consider yourself an idiot in your eyes?

          • SoCalBeachDude

            The choice for President in 2016 was a BINARY CHOICE BETWEEN EVIL CORRUPT HELLERY AND DUFUS DUPLICITOUS DONNIE and the latter was a lot more palatable. Hellloooooo?

          • GSOB

            no no no… it is The Federal Reserve, or central banking, that is a real piece of work.

            Watch this SoCalBeachDude, …., it will enlighten you, I hope…

            https://www.youtube.com/watch?v=23DNe0cJhcU

          • aldownunder

            No way scbd will watch that,for starters it explains how the FED actually works and what a sham their running and because it’s Mr Maloney an advocate for PM’s and he hates PM’s

          • SoCalBeachDude

            It does no such thing at all and is just clueless FALSE BOGUS PROPAGANDA.

            I do not “hate” gold at all nor silver and would considering buying more gold jewelry if the price of gold fell to $20 per pound. In fact, I’d actually consider buying about 2 pounds of it at that price!

            As to silver, I have a formal dining room filled with pieces collected over the past 100 years and it is a pain to keep polished as silver always tarnishes.

          • SoCalBeachDude

            Absolutely false and laughably ludicrous and clueless assertions. I would suggest you learn about the Federal Reserve at:

            http://www.FederalReserve.gov

        • LIZ THE SHIZ

          oh Voldomort cut it out

        • SoCalBeachDude

          Nope.

      • LIZ THE SHIZ

        things that make you say HMMMMM ???

    • df NJ

      Great article.

      • SoCalBeachDude

        Thank you! Thank the DM and BankRate.com!

  • SoCalBeachDude
    • infinity

      links, links, links. where would i find headlines without you? i wish there was a search engine that would direct me to such things. that’s what hero’s like you are for.

      • SoCalBeachDude

        You’re quite welcome for all the hard work I put in on a pro bono basis to provide information for our fine community here!

      • HeyAHuman

        He’s no hero. He’s essentially a bot. And you’re a convenient post from a “guest” that glorifies these random links LOL….

        This is a circus 🙂

        • SoCalBeachDude

          What utterly bogus and total false assertions.

        • SnodtBlossom

          a bot? just because he doesn’t go off the rails like your inane buddies on here?
          just because the author doesn’t like your links?

          • SoCalBeachDude

            Apparently!

          • HeyAHuman

            Lol, my buddies? And he doesn’t like the links from the SAME EXACT SOURCES as Socal?

            Also, your rep is so poor here it’s no wonder you’re his cheerleader 🙂

          • SnodtBlossom

            I don’t give a damn ’bout my reputation
            You’re living in the past, it’s a new generation
            A girl can do what she wants to do and that’s what I’m gonna do

            An’ I don’t give a damn ’bout my bad reputation
            Oh no, not me

            An’ I don’t give a damn ’bout my reputation
            Never said I wanted to improve my station
            An’ I’m only doin’ good when I’m havin’ fun
            An’ I don’t have to please no one

            An’ I don’t give a damn ’bout my bad reputation
            Oh no, not me, oh no, not me

            I don’t give a damn ’bout my reputation
            I’ve never been afraid of any deviation
            An’ I don’t really care if you think I’m strange
            I ain’t gonna change

            An’ I’m never gonna care ’bout my bad reputation
            Oh no, not me, oh no, not me
            Pedal, boys!

            An’ I don’t give a damn ’bout my reputation
            The world’s in trouble, there’s no communication
            An’ everyone can say what they wanna to say
            It never gets better, anyway

            So why should I care about a bad reputation anyway?
            Oh no, not me, oh no, not me

            I don’t give a damn ’bout my bad reputation
            You’re living in the past, it’s a new generation
            An’ I only feel good when I got no pain
            An’ that’s how I’m gonna stay

            An’ I don’t give a damn ’bout my bad reputation
            Oh no, not me, oh no, not me
            Not me, not me

        • infinity

          i guess you can’t detect sarcasm. oh well. i tried

  • SoCalBeachDude
    • helpless

      links about the weather. that relates to the economy. because i can’t look up the weather myself. i’m so helpless. what would i do without you?

      • SoCalBeachDude

        I don’t know. You’d probably be HELPLESS. Sad.

      • Stuey

        Just more click bait so he can make money from it. He is a millionaire click baiter.

    • LIZ THE SHIZ

      and now your a weatherman , next you’ll be telling us the time SHEESH

    • CASTIEL

      Damn!!!!!!!Thanks for the information, because i though it was winter………..keep going with the crap posts……..moron….

  • SoCalBeachDude
    • headliner

      headlines here. get your headlines. hot off the presses.

    • Stuey

      Wait, you HATE Trump?!?!?! But you post links showing how he is winning? What have you changed positions on Trump once again???

      • SoCalBeachDude

        Where do you come up with the bizarre emotional attachments to things and keep wanting everything to the BLACK or WHITE in your little myopic world. There are millions of positions that people take and the world is filled with gradations on every issue. Get a clue, dude. The above are CURRENT NEWS ITEMS and I made no indication whatsoever as to whether I agree or disagree with any them. THEY ARE SIMPLY WHAT THEY ARE.

  • SoCalBeachDude

    Republican Karen Handel WINS Georgia special election: GOP candidate deals massive blow to Democrats by beating Jon Ossoff in most expensive House race ever

    Republican Karen Handel has defeated her upstart Democratic challenger, Jon Ossoff, in a Georgia runoff election. The race became a national topic as it was considered Donald Trump’s first test. Handel, an experienced politician and former Secretary of State for Georgia, emerged on Tuesday night with a narrow win over 30-year-old Jon Ossoff. Incomplete returns show she is on track to receive about 53 per cent of the vote. Her narrow victory in Georgia’s 6th Congressional District allows Republicans a sigh of relief after the hotly-contested race, which is considered the most expensive in US House history.

    http://www.dailymail.co.uk/news/article-4623942/Republican-Karen-Handel-track-win-Georgia-runoff.html

    • goldstar

      blah, blah, blah. look at me. i can cut an paste. give me a gold star please.

  • GSOB

    America was birthed in the midst of a conflict over taxation and the control of money.

    • matteroftime

      And by the death of many native americans. It’s funny that we’re going through another war of immigration. Is there not enough land and resources for everyone? I guess not. All roads seem to lead to war, eventually.

    • SoCalBeachDude

      Yes, and that has gone on forever.

  • GSOB

    “Whoever controls the volume of money in our country is absolute master of all industry and commerce…and when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate.”

    – James A. Garfield

    • Bill

      Assasinated just like Kennedy because they both…..

      • SoCalBeachDude

        Kennedy had nothing to do with the Federal Reserve and was in no way advocating abolishing it at all. That is a totally bogus and false myth.

    • SoCalBeachDude

      Not a very bright dude, apparently.

  • GSOB

    The Fed Reserve is destroying America

    • destroyed

      Correction. destroyed.

      • SoCalBeachDude

        Nope. Not in the least.

    • SoCalBeachDude

      Absolutely false and very stupid assertion. The Federal Reserve is very responsibly increasing target interest rates and reducing their balance sheet by around 50% between now and the end of 2018.

  • GSOB

    Central banks are in the business of sustaining the unsustainable.

    • infinitewealth

      They’re in the business of making money. Literally making it, out of thin air. At all costs.

      • SoCalBeachDude

        Laughably false.

      • Joe Trevors

        Is not this the same as Quantitative Easing?

        • SoCalBeachDude

          No. And 100% of the Federal Reserve QE funds ALWAYS REMAINED FULLY INSIDE THE FEDERAL RESERVE which is precisely where those $3.6 trillion in funds are this morning.

    • IronBelly

      How very true!

    • SoCalBeachDude

      Nope

  • GSOB

    Real consequences are coming and there’s no ducking them

    • duckpuns

      no quacks about that.

      • JC Teecher

        I like duck soup, especially with plenty of quackers.

        I ran into one of my old college buddies and he is starting to sound like Donald Duck, because he is addicted to quack, both kinds.

  • GSOB

    Central banks, like the Federal Reserve, are in the business of promoting perpetual, exponential growth of debt.

    • truth

      Can’t argue with that.

      • SoCalBeachDude

        None of the $67 trillion of debt in the US is due to the Federal Reserve at all.

    • SoCalBeachDude

      Absolutely false.

  • wardrums

    Even if we end the Fed, the bubbles that were created are too large to be deflated. This thing is going to burst. You can hear the drums of war. The downed Syrian jet. Constantly blaming Russia. Blaming China and Japan for doing the same money printing. It’s not going to be pretty. We should be preparing for war. Seems like the most likely scenario.

    • SoCalBeachDude

      The asset bubbles have NOTHING WHATSOEVER to do with the Federal Reserve. As to that “war” nonsense it has been going on for many decades and is being FUELED BY THE US AND ITS WARMONGERING, but nobody is buying into that utter BS.

  • savings

    Emergency fund? What good is saving paper going to do? The currency gets devalued on a daily basis. I put my stock in hand tools and power tools. There will be a demand for skilled labor when things collapse. Save your cash, it will still be worth something for a little while when things go down. Weapons might be a good investment. Bullets. Clean potable water. Food. Better than money in my opinion.

    • SoCalBeachDude

      Absolutely false. The US dollar is by far the most used and most important currency in the world and is SOARING IN PURCHASING POWER AGAINST COMMODITIES as well as moving right back quickly towards 100 and then much higher on the DXY. As to your other nonsense, nobody in their right mind would want any of that, particularly bullets. Water will always be available in endless supply from your local water company and food is more plentiful than ever.

      • savings

        endless supply of local water. right. . . .

        • SoCalBeachDude

          Water globally is a SELF-REGENERATING LIMITLESS RESOURCE. Obviously.

    • JC Teecher

      I wish everyone within a two mile radius of our bug out thought like you do. We would not have to work as hard by providing the elderly and very young with potable water and green bean sandwiches.

  • HeyAHuman

    The weekly “Americans don’t have enough savings” article…

    • SoCalBeachDude

      Most people in the US simply don’t know how to manage money at all.

      • shutyourdamnmouth

        most people are getting robbed and they don’t even know it. most people would listen to you and think you’re smart. i’m not most people.

        • SoCalBeachDude

          Absolutely false.

    • Leif Erickson

      I wish the economy collapses soon then I can read the “I told you so!” article.

  • Bob

    No doubt, the drop from full time employment to part time produces this situation. Also, wages have remained stagnant for years, yet the cost of living continues to rise. Last week, a survey showed 49% of Americans can not afford to take a vacation. Some people who like euphemisms call it a recession, but truly, it defines as an economic depression. I believe socialbeachdude would even agree with me about what I have pointed out!

    • SoCalBeachDude

      100% correct. The GRAND GLOBAL DEPRESSION started in August 2007 and has been intensifying ever since.

      • Bob

        How can you say that California does not have a homeless problem? Last fall, the mayor of Los Angeles called a state of emergency over the increasing homeless population. Many people have published articles with photos of the homelessness encampments along the Santa Ana River, in Anaheim, and all over California cities. People lose their jobs or drop to part time status. After not finding another job, they can not pay rent, so they wind up on the streets. Have you left your Beverly Hills mansion recently and looked at the common man on the streets? California has a SEVERE homeless problem because of the economic depression..

        • NoMeansNo

          Add the homeless problem there to the mollycoddling of illegals and the corrupt politicians’ (who are giving themselves a 3% raise, BTW) desire to make the whole state a Sanctuary State, and ya got a real mess + tax!

        • Stuey

          EXACTLY!! I have a friend in LA and we were just discussing this few days ago. LA is full of homeless people. On “skid row” they are camped out to the point the sidewalks are blocked and people can not even access the businesses there. I think drugheaddude needs to venture out of Beverly Hills some time.

          • SoCalBeachDude

            No, the City and country of Los Angeles are not “full of homeless people” at all and that sort of ILLEGAL DISGUSTING BEHAVIOR IS NOT TOLERATED ANYWHERE IN THE COUNTRY OF LA and they will be ARRESTED AND PROSECUTED FOR VAGRANCY if anyone attempts to behave in that kind of illegal and obnoxious manner.

            If people cannot afford to live here in Los Angeles County then they need to LEAVE OUR LOVELY COUNTY AND GO SOMEWHERE ELSE – OBVIOUSLY. And the police will certainly step in to assist them in accomplishing just that if they act in any manner resembling VAGRANCY IN LA COUNTY as will cities such as Beverly Hills, CA where that sort of absurd and illegal behavior is not tolerated for a single second.

        • SoCalBeachDude

          There are nearly 40 million residents here in the State of California which is the most populous state in the USA. There are a VERY FEW PEOPLE who may be so-called “homeless” but they are such a tiny amount as to not even matter at all in the big picture of the population of California. Every state has that issue to some extent and it is certainly no higher – and likely much less so – than in other areas of the USA.

          Moreover, most of the people that fall into that category are MENTALLY ILL AND/OR DRUG ADDICTS who fail to take advantage of an array of social programs to deal with such people

          • aldownunder

            I agree with your last paragraph
            Most homeless do have mental issues or drug problems from my experience
            there really isn’t any excuse for being homeless if those issues don’t apply

          • Bob

            “Very few people who may be so called homeless”? How come the mayor called a “state of emergency”? The mayor would never have asserted this unless the problem reached critical point. You also said most homeless people have mental illness or drug addiction. I do not doubt that some fall in that category,. but, most homeless state they lost their job because of the recession and ran out of savings. The SF Gate newspaper devotes a special section on the homeless problem, and it would never do this unless homelessness stood as a critical problem. Many who do work can not pay the outrageous rent in the city.

            Although 40 million residents do reside in California, you must look at the RISING TREND of homelessness the past 10 years, especially escalating the past 2-3. The cities do not have the resources to deal with the large number of people who need help. You must conclude the economic depression Americans have experienced the past 10 years has produced this overwhelming condition. Job cut backs and layoffs eventually lead to poverty, which later translates to eventual homelessness.

          • SoCalBeachDude

            There have always been BUMS AND BEGGERS ON THE STREETS of California and all other places in the USA, but there is NO EXCUSE WHATSOEVER FOR THAT KIND OF ILLEGAL AND DISGUSTING BEHAVIOR. There are a slew of state and government programs to assist anyone who needs housing or food or whatever and they are obviously failing to avail themselves of those programs (most of which, quite frankly, should be TOTALLY ABOLISHED without further delay). We have almost totally gotten rid of so-called “SKID ROW” in downtown Los Angeles through those efforts.

            Many cities including Beverly Hills, CA have laws to KEEP THAT SORT OF TRASH OUT OF OUR COMMUNITIES including no parking between 3 am to 5 am laws on all of our streets and strict police enforcement against anyone wandering around in our lovely neighborhoods. People here in California are BEYOND FEDUP WITH THAT KIND OF STREET TRASH and are increasingly insisting that it be removed by the local authorities including up in very liberal NoCal.

            Controversial ‘homeless wall’ goes up in California…

            http://sanfrancisco.cbslocal.com/2017/06/19/homeless-wall-san-jose/

          • Stuey

            Well i showed your response to my friend who lives in LA. His first response was that you are a nut. Although, he did state what you say about Beverly Hills and the county may be true but certainly not within LA city limits.

          • SoCalBeachDude

            Thank you for CONFIRMING that everything I stated was true and correct. The entire sprawling City of Los Angeles is fully WITHIN the Los Angeles County limits.

          • Stuey

            Haha…..you don’t understand that a city has city limits within the county it is within. How dumb can someone be?

          • SoCalBeachDude

            What on earth are you blathering about. Obviously EVERY CITY IN THE USA IS INSIDE A COUNTY and here in Los Angeles county there are around 80 cities along with a significant amount of UNINCORPORATED TERRITORY and the City of Los Angeles is entirely within Los Angeles County just as I clearly stated. What on earth is your issue with comprehending clear language?

          • Stuey

            And there are homeless people in the city limits of LA. You ever been down on skid row? Are you honestly going to sit there and claim there are no homeless people in the city limits of LA?

          • SoCalBeachDude

            Out of a population of more than 13 million people here in the greater Los Angeles Metropolitan Statistical Area there are only a few thousand people who put themselves in the category of “homeless” which is not even a tiny fraction of 1%.

        • Siloo Kapadia

          They will not see what they do not wish to see, and will not hear what they do not wish to hear.

      • NoMeansNo

        The pablum puking fake news lame stream media constantly pushes out articles about how ‘great’ the economy is. Where, ask I, in the 1%, where most of these jokers reside? Certainly nowhere around where I am and what I see on a daily basis.

      • Stuey

        Well this is odd, because you have said on numerous occasions that people are overpaid nowadays. So which is it? Are we in a depression and people are starving or is everyone making too much money???

        • SoCalBeachDude

          Most people in the US are VASTLY OVERPAID RELATIVE TO WHAT THEY ARE WORTH TO THEIR EMPLOYERS and their employers are the only ones who can accurate determine what they are worth as employees. Get it now?

        • MathCapitalist289

          He tends to contradict himself; on the same post he stated that stocks were going to crash–along with precious metals. they tend to have a fairly inverse relationship, but not as strong as the S&P500 and the VIX and related ETNs.

          • Stuey

            Very very true.

          • SoCalBeachDude

            No, they do not have an inverse relationship at all as to stocks and metals and both will crash BIG TIME dead ahead. What has an inverse relationship is the VIX which is a great predictor of crashes when it is near all time lows of around 10 and a great predictor of recoveries when it is near all time highs of around 80.

    • SnodtBlossom

      I see people doing great all over the place (Of course I’m not in the Midwest thank my lucky stars)
      However, I do think there is a bigger rift growing between the haves and have nots.

      • sister soldier

        That is geographical discrimination Snotty! Not all of us are in the “have nots” category. =) The rift between the haves and the have nots is more like a giant chasm.

      • Most of the people who appear to be doing great are in debt up to their eyeballs while the people driving around in old rusty high mileage cars are the ones who have money.

      • MathCapitalist289

        I live in a suburb in the midwest where the average property value in my neighborhood is extremely high at almost $1,000,000 US. My summer job is programming stock, forex, and derivative trading algorithms while teaching myself differential equations and some single & multivariable calculus. Excuse the anecdote; it was meant to illustrate that the Midwest does not comprise solely of ignoramuses, but also of some very educated and intelligent people. I find it amusing as to how people view the midwest as being a poor white area; many city centers are, but there are also a few less frightening areas that embrace values typical of the intelligentsia.

        Also, my UTMA generates higher (geometric and arithmetic) returns than many index funds. Right now it has an arithmetic return of north of 20% annualized, but geometric returns are of course somewhat lower. Where one lives is irrelevant; it is what opportunities they seize that count most.

    • JC Teecher

      I wish half of those not able to take a vacation were the ones that keep our favorite hotels booked up, at our favorite locations.

  • SoCalBeachDude
    • socalbeachbum

      click bait. i make money posting click bait. i’m a shill. with no real skill. do whatever it takes to pay the bill.

      • Stuey

        Wow………finally you admit the truth of why you post so many links. So you are a millionaire living on a trust fund but you need to make money off of clicks. That is pathetic.

        • SoCalBeachDude

          Your ignorance is beyond appalling, dude, and obviously that is a stupid harassment account which has been flagged.

          • Stuey

            Harassment, really?? As much as you insult others on here you have a lot of nerve flagging others for harassment. What’s the matter, you can’t handle someone who questions you? As i have said numerous times, all you do is double talk then insult on here. But i have never flagged you for harassment because i don’t mind a lively debate even if i am being insulted constantly. But you have lived in your privileged life where you were never challenged and you can’t deal with it so you got to call “the police” or “mommy” to handle your battles. Grow up dude.

          • SoCalBeachDude

            Get a clue, dude!

          • Stuey

            Oh, that wasn’t you?? It sure looked like your name. So what happened, someone hack your account?

          • SoCalBeachDude

            It was a bogus account with the name ending in BUM, and I would suggest you start learning to read carefully before putting up such nonsensical and bogus comments which are totally false.

          • Stuey

            Of course, i realized that from the start. It was all a joke at your expense. But you aren’t bright enough to figure out when someone is making fun of you.

          • SoCalBeachDude

            Why do you keep making such a pathetic fool out of yourself here?

      • sister soldier

        Definitely not a rapper.

    • df NJ

      Wow, that’s good news. What the heck! Somebody dropped the ball on that one.

      Kick ’em when they’re up
      Kick ’em when they’re down
      Kick ’em when they’re up
      Kick ’em when they’re down
      Kick ’em when they’re up
      Kick ’em when they’re down
      Kick ’em when they’re up
      Kick ’em all around

  • Bill

    Artificial intelligence
    Algorithms
    The dude
    The author
    The swamp
    The cabal
    WW111
    The end

    Yes, I’m sure there is much, much more, but you should get the point. Good reason to join the “simple life movement”.

    • SnodtBlossom

      Yes, most of these posters should build themselves a shack in the woods and give up tv and internet.

      • SoCalBeachDude

        Some apparently already have including JCT and that other dude from Asheville, NC in the sticks!

    • SoCalBeachDude

      What utter nonsense, dude. Get a clue. Get a life.

    • df NJ

      Artificial Intelligence is really not a threat. You can’t prove a negative but it seems very unlikely to me it will ever happen with existing Von Neumann get-fetch-execute computer architecture. Take the Halting problem as an example. How will programs ever become self-aware if they cannot stop themselves from entering an infinite loop.

      10 NOP
      20 GOTO 10

      Can you imagine if you or I were able to have a thought that would put our brain into a coma! Have you ever thought about what your brain is doing between thoughts? Our ability to laugh prevents our brain from becoming locked up. Computers have no sense of humor!

      Analytics and deep data mining for pricing fixing is very bad. Products are priced according to what people can afford in a region as opposed to the cost of the product.

      And laws are passed by Congress to create cartels and monopolies are also very bad. You just can’t compete in markets without millions of dollars of up-front money. Just take “UL” certification as a great example of competition stifling requirement. It cost millions of dollars to certify a product with UL.

  • Paul Vosper

    scamming usa , central bankers love ripping you off .. no one in the usa will never own the home even if you pay off the home in full , think about that !! ..

    • SoCalBeachDude

      Absolutely and laughably false. More than one-third of all homeowners in the USA own their homes free an clear with no mortgages whatsoever, including myself.

      • Paul Vosper

        Absolutely wrong if you stop paying taxes on the home you lose your home , the real truth is that you never own the property , tax is forever !!!! ……. that proves my point … you only RENT THE HOUSE !!! …

        • Carl

          So what is your point? Do you think it’s better to pay a landlord for the rest of your life? I don’t. I had my fair share of renting and I hated every minute of it. As for property tax you better believe that is rolled into the cost of your rent.

          • Paul Vosper

            You are still under the thumb of the irs system ,local tax is still money you pay every year it’s called rental of property

          • Carl

            And… again I ask what is your point. Do you agree that it is better to own from a financial standpoint than to rent?

          • SoCalBeachDude

            Absolutely false and very stupid notions. What do you think pays for roads, schools, libraries, police and fire departments, and local governments? You are nothing but a DUMB FREELOADER, Paul, with your clueless and utterly absurd assertions.

          • SoCalBeachDude

            100% correct, Carl. Some of these folks think that if they don’t pay for something directly then they get it for free. Sheeesh!

        • SoCalBeachDude

          Obviously, but even as a RENTER YOU PAY PROPERTY TAXES AS LANDLORDS PASS ON THEIR PROPERTY TAXES TO RENTERS IN THE TOTAL AMOUNT OF THEIR RENT OR LEASE PAYMENTS and if you cease to pay the landlord your rent due you will LIKEWISE BE EVICTED FROM THE PREMISES. Nothing in life is free, dude.

    • df NJ

      You will always have local taxes if that’s what you mean.

      • SoCalBeachDude

        Yep, and here in California – thanks to Proposition 13 in 1978 – property taxes are generally only about 1.25% of assessed property values so taxes are only about $125,000 per year on a $10 million house in Beverly Hills, CA.

        • df NJ

          I think Vosper’s point is you never own your home if you have to continue to pay local taxes. But I am just guessing.

          • SoCalBeachDude

            No doubt, but property taxes will always exist everywhere and are double in Texas what they are in California and there is no limit to the annual increases in Texas.

            A friend in River Oaks, TX (Houston) had to sell their historical family house back in 2011 when property taxes exceeded $160,000 per year when its value was placed at around $8,800,000 so be careful when you are buying any property in the very high property tax state of Texas where the property tax rate is around 2.25% of constantly increasing assessed valuation.

    • notfreedom

      don’t pay your taxes and they can come and take your land. what the f is that?

      • SoCalBeachDude

        The legal process which is 100% correct.

    • SoCalBeachDude

      The Federal Reserve has nothing whatsoever to do with local property taxes which are levied by COUNTIES in each state in the USA.

  • South Texas

    The wages are so pathetically low in combination with inflation, how does one save? How low do you have to go? And if you make the median of around $50k, you are taxed of 30% of it before and after your check.

    Sure, there are financially irresponsible, but that alone doe not explain the situation presented in this article.

    • SoCalBeachDude

      There is practically NO INFLATION WHATSOEVER IN THE USA and hasn’t been any inflation for many years.

      • df NJ

        Healthcare insurance premiums are skyrocketing at an alarming rate!!!! My effing insurance policy will be more than my mortgage pretty soon!!! The God damn mother effers!!!

        • SoCalBeachDude

          That has nothing whatsoever to do with inflation but rather 100% to do with RAMPANT EGREGIOUS PRICE GOUGING in the medical industry, but soon you won’t have the slightest bit of worries about medical expense insurance premiums as NO COVERAGES WILL BE AVAILABLE TO ANYONE AT ANY PRICE and you can simply pay whatever bills you run up out of your own pocket. Enjoy!

          • df NJ

            I thought inflation was when prices went up?

            If you mean inflation caused by too much economic activity then I will say yes.

            I think we both agree the crazy amount of money printed since 2008 is causing inflation but that’s not the kind that matters. Do you think they should have let the banks fail in 2008?

            In my home town the price of a large plain pizza went from $8.00 to $13.00. My salary has not gone up 38% since that time!

          • warning

            he hates the term “money printing”

            he’s a shill and a fool

            not worth arguing with

          • df NJ

            He’s not that bad. At least people with strong opinions think. Sometimes it’s much better than ditto-heads or Trumpenzees.

          • JC Teecher

            Never Argue with a fool.
            Onlookers may not be able to tell the difference.

          • SoCalBeachDude

            You are about the BIGGEST FOOL here.

          • SoCalBeachDude

            Laughably false. You are the fool.

          • SoCalBeachDude

            There are many reason some prices go up and most have nothing whatsoever to do with any broad general inflation. The US money supply has NOT INCREASED by much at all since 2008 and has not caused any inflation at all but rather by mere PRICE GOUGING.

            The overall money supply has increased in the USA from about $8.5 trillion to presently around $13.5 trillion as measured by M2 but that has nothing to do with any inflation which has only really occurred in ASSET PRICES driven by MANIC SPECULATION which is already majorly reverting.

            You can buy pizzas for less than $4 at your local grocery store frozen for about a 32 oz. (2 lb.) pizza these days ad I did just that over the past few weeks at Vons here in SoCal. Learn to be a SAVVY SHOPPER.

          • df NJ

            So the trillions spent on bailing out the banks had no effect on the value of money?

          • SoCalBeachDude

            There was NO MONEY WHATSOEVER EXPENDED ON BAILING OUT ANY BANKS IN THE USA. Where do you come up with such utter nonsense. There was NO COST AT ALL TO THE FEDERAL RESERVE FOR ITS VERY SHORT TERM LOANS which were all nearly immediately paid back to the Federal Reserve and only a net cost of around $1o09 billion to the US Treasury for its TARP program which was all directly related to losses on its bailout of General Motors.

          • df NJ

            You and I live in different universes.

          • SoCalBeachDude

            No doubt as is quite apparent from you extreme cluelessness.

          • helphim

            what? are you writing a ransom note?

          • Carl

            Yes it is cheaper to buy frozen and if you go to any of the major pizza chains that’s what you’re buying anyway (since they buy all their ingredients from a supplier). Why not save a few bucks.

            The best pizza is homemade or a small pizza place that makes everything from scratch.

          • TOUJOURS DEMAIN

            Aldi large pizza (Mama Cozzi’s) $5.99

          • SoCalBeachDude

            Indeed.

      • GSOB

        New F-100 Pickup.. $1,795.00 in 1966
        2017, 51 years later….. F-150 starting at 27g….
        You don’t drive…. to much drinking?

        • SoCalBeachDude

          A 2017 Ford F-150 is a VASTLY DIFFERENT AND MORE COMPLEX VEHICLE than a 1966 Ford truck and much of the increased cost is due to GOVERNMENT REGULATIONS which affect every single part of the vehicle along with all sorts of other enhancements like leather, entertainment systems, and other complex electronics. Isn’t that completely obvious to you, dude?

    • df NJ

      You are making a great comment. But I want to point out something in terms of mathematics. It’s not that wages are low. It’s that the purchasing power of your take home pay is what is low. Wages are just half of the equation. The cost of goods and services is the other half.

      The amount you pay in taxes is irrelevant. All that matters is the purchasing power of your take home pay.

      • SoCalBeachDude

        The purchasing power of the US dollar has SKYROCKETED UPWARDS against nearly all of the world’s 27 major commodities over the last past 6 years.

        • df NJ

          You are out of you mind. If this were true people would not be rioting as much.

          • SoCalBeachDude

            Laughably false. Commodities have been PLUMMETING OVER THE PAST 6 years with gold and silver down 35% and 70% respectively and oil down more than 60% during that period. Get a clue, dude. Just go look at the actual charts.

          • df NJ

            I guess the rise in my healthcare insurance premiums is blinding me to how great everything is right now.

          • SoCalBeachDude

            Perhaps, but very soon you won’t have ANY PREMIUM AT ALL AS ALL MEDICAL EXPENSE INSURANCE WITH BE TOTALLY SHUT DOWN AND WITHDRAWN FROM ANY AVAILABILITY! Enjoy!

          • df NJ

            I very much doubt that will happen. Hospital owners and doctors are very greedy. They need their money fix.

          • SoCalBeachDude

            Hospital owners and doctors have NOTHING WHATSOEVER to do with whether medical expense insurance companies offer any coverages or not and the greed and rampant price gouging by hospitals and the pharmaceutical industries are the ones responsible to MEDICAL EXPENSE INSURANCE COMPANIES MOVING TO TOTALLY SHUT DOWN THE AVAILABILITY OF ANY AND ALL SUCH INSURANCE PRODUCTS IN THE USA.

            Insurance has ALWAYS been a HIGHLY REGULATED BUSINESS to ensure SOLVENCY of insurance companies throughout the 21 or so classes of insurance, and this has always been done in the USA by state insurance commissioners based on the core principles of RISK OF LOSS and sound and proper underwriting to at all times maintaining adequate reserves to cover anticipated losses based on actuarial statistics in the industry which are based on the law of large numbers.

            The core principles of insurance are based on the RISK OF LOSS and the LAW OF LARGE NUMBERS in order to develop actuarily sound premiums that are affordable while maintaining solvency (and hopefully profitability) for the insurance companies that offer coverages. In order for those principles to be achieved there MUST BE SOUND UNDERWRITING AND EXCLUSION OF GUARANTEED AND CATASTROPHIC LOSSES or else insurance premiums would not be affordable and insurance companies would not be able to MAINTAIN SOLVENCY as they are required to do by all state laws which regulate all classes of insurance.

            The ACA violates the core principles of insurance which would result in extreme ADVERSE RISK SELECTION where those with guaranteed losses flock to obtain coverages which would very rapidly render all medical expense insurers INSOLVENT.

            The ACA is really just a COST SHIFTING MECHANISM from those with losses to a third party. If that third party were the US government, then that would be a different story. Unlike the federal government, insurance companies are NOT A BOTTOMLESS PIT OF LOSSES and cannot be for a variety of reasons, not the least of which is that they are not allowed to be by state laws regulating insurance companies which require SOLVENCY at all times.

            This Atrocious Care Act nonsense is the biggest boondoggle in US government history and will not survive for a huge variety of reasons.

            There is no way that the ACA can remain. The Achilles heal is the the MASSIVE LOSSES IMPOSED ON MEDICAL EXPENSE INSURERS who cannot and will not continue to offer medical expense coverages. I think that was the intent in the first place in order to force a “single payer system” and drive the medical expense insurers totally out of business. The only other explanation would be TOTAL IGNORANCE OF INSURANCE PRINCIPLES by those who wrote the legislation. Either way, the result of NO MEDICAL INSURANCE AVAILABLE will rapidly be the same.

            Insurance companies that offer medical expenses coverages are the BIGGEST LOSERS with this debacle and will soon be WITHDRAWING ANY AND ALL MEDICAL EXPENSE COVERAGES FROM THE MARKET and shutting down medical expense insurance operations as they will be have no choice but to do so as they would be RENDERED INSOLVENT if they continued to offer coverages.

          • SoCalBeachDude

            Nobody is “rioting” at all in the USA.

        • blind

          sky rocketed huh. not even a slight exaggeration. i like how you use all caps to emphasize your post. because i’m blind.

          • SoCalBeachDude

            What I stated is 100% true and correct.

  • Bob

    Socialbeachdude. So what can we expect as an end to the economic problems? Do you think the economy will collapse? Or will we suffer a slow, painful death? More homelessness like in California?

    • SoCalBeachDude

      Asset prices certainly are headed for major collapses including all of the major stock market indices and the 6,000 or so publicly traded stocks in the USA along with real estate and commodity prices but that is because they have been bid up to absurdly high price levels which are not in any way sustainable at all. The economy of the USA will go on with some degree of down turn but not more than about 20% to 40% at worse.

      We have very little “homelessness” at all here in California and we have the largest population by far of any state in the USA with our residents now moving upwards by around 1 million a year to nearly 40,000,000 and have a thriving economy that is at more than $2.5 trillion in GDP which is by far the largest of any state in the USA with no other state even coming slightly close.

      Any economic down turn will not even be slightly noticeable herein Beverly Hills, and life will go on just as it always has just like it did during the slight downwards blip back in the 1930s which wasn’t even noticeable in Beverly Hills, CA.

      • df NJ

        But.

        Corporations are flush with cash and increasing worker’s wages will prevent all the doom you are suggesting. Raising interest rates will probably start generating economic activity with all the boomers starting to live off CD income. I think the people with power and privilege have a ton of leverage. They are not going to allow their wealth and privilege to be taken away. The rules will change to make sure they stay in power.

        • socalbeachbum

          but it’s easier to blame the poor for not working hard enough. am i right?

          • df NJ

            People in New Jersey work their butts off. I wish wages had more purchasing power.

          • TOUJOURS DEMAIN

            It’s easier to buy less than make more.

          • SoCalBeachDude

            Absolutely correct, and I stress that all of the time here as well as to how to learn to be a SAVVY SHOPPER!

          • SoCalBeachDude

            They do and most of those people are vastly overpaid relative to what they are worth to any employer.

          • SoCalBeachDude

            Whose fault is it BUT THEIR OWN FAULT?

        • SoCalBeachDude

          CORPORATIONS IN THE USA ARE DROWNING IN SEA OF RECORD HIGH DEBT LEVELS which are 5 times the amount of cash they have on hand. Corporate debt in the USA now exceeds $14 trillion and continues to rise astronomically. Are you somehow not aware as to that matter?

          • df NJ

            That would make sense because baby boomers are notorious for destroying everything in their path. Why not the entire economy as well.

          • SoCalBeachDude

            Absurdly false and very stupid assertions.

          • df NJ

            Opinions can never be false. What is wrong with you?

          • SoCalBeachDude

            Your ignorance as to reality!

          • crybaby

            oh no, corporations are drowning. better throw a life vest. like a few billion in bailouts. poor corporations.

          • ollie173

            LOL

      • JC Teecher

        According to an article posted Jan 2017>>>>

        “Recently, San Francisco, Sacramento and other cities in California and around the West Coast have seen an uptick in homelessness — by 3 percent — while nationwide, the numbers dropped, also by 3 percent (between 2015 and 2016), says the Department of Housing and Urban Development’s annual snapshot assessment of homelessness in America, which was released late last year.”

        From another article posted on Mar. 5th 2017>>>

        “Every year from 2000 through 2015, more people left California than moved in from other states. This migration was not spread evenly across all income groups, a Sacramento Bee review of U.S. Census Bureau data found. The people leaving tend to be relatively poor, and many lack college degrees.”

        so California, the state you so praise, that is run by liberals like Jerry Brown, whom signed laws against all christian organizations; is exporting humans that have had bad luck or are just plane dumb and lazy, for the most part.
        WOW! That is something to be really proud of your state for.

        You are full of more sheet than a Christmas Turkey, beechdud.

        • SoCalBeachDude

          So what? 3% increase of 0.0000001% of the population being homeless? Really? Seriously?

  • df NJ

    Socialbeachdude, are you feeling okay today? You seem a little more edgy than usual. You need more fiber in your diet!

    • cacaspanial

      too much coca ine. i think his dealer found some pure stuff. he’s been on a roll.

    • SoCalBeachDude

      I don’t eat “fibre” nonsense. Mostly protein!

      • df NJ

        Dude, you have to calm down. Not everything is blithering idiot because they haven’t read everything you’ve read or experienced everything you’ve experienced.

  • Carl

    The reality of the world we live in is that prosperity is an illusion. If all businesses had to stand on their own merit without loans and investors most would be a complete failure. Americans love their illusions and will go to great lengths to keep the status quo as it. Even those on this board who understand the problems with the current system still want a bastardized version of said system to continue – because it is familiar.

    All of us will die one day. The lucky ones will go quietly in their sleep. The not so lucky will get cancer or any other terrible disease out there and slowly rot from the inside out.

    Many will be be forced out of our homes into nursing homes where we will be kept alive with pills and more pills to counteract side effects of other pills.

    Heroic lifesaving measures will be applied as long as the health insurance plan we have covers it (enjoy your cadillac health insurance while your young and don’t really need it as it will be a curse in your old age as they milk the policy for every nickel they can. All the while you are stuck laying in a hospital bed defecating and peeing on yourself all to stave off death for a few more months or longer).

    There are two things that are constant in this world. Everything was designed to feed off something or someone else. Scarcity is the order of the day (whether artificially or through natural disasters that deplete resources). What terrible mind created such a place for us to live? Something diseased and deranged I can only guess.

    • Gina

      I agree the devil created humans. No merciful God could have possibly done this.

      • Carl

        A merciful god is a myth. Just look at the old testament to see exactly how merciful or unmerciful he really is. Of course it’s all in perspective and you have to hope god will favor you because if he does he will excuse any immoral behaviors you have and will slaughter all your enemies.

        Strange how this god is nonexistent in the new testament. Although his thirst for blood has not waned as he now requires a human sacrifice for atonement of sins (ironic since the argument for god slaughtering men, women, children and infants was that they practiced human sacrifice).

        Yet in the new testament we see that human sacrifice is required (yet somehow because it is their god it is OK).

        The devil does not exist. Only the creator who is both good and evil. He cannot be any other way for we are made in his image and are just like him. A coin has two sides. Just as man and god do. It is your choice which side you present to the world (with the exclusion of those whose brain chemistry is abnormal due to birth defects, abuse, etc).

        • Jerry-Jeff

          please create an account so I don’t have to read your bilge! Thanking you in advance for your kind consideration.

  • JC Teecher

    You know we are getting close to the end, or desperately need a small vacation, when you see four comments back to back, that read, “Comment by…. Blocked”: and the four, are, Carl,SoCalBeachDud,Snottly, and df NJ.

    • SoCalBeachDude

      More utter BS nonsensne from you again, I see. Sad.

  • JC Teecher

    Imagine being conceived in a womb that is now the most risky place to live on the face of the planet, because of abortion; and if you are lucky enough to grow and pass through the birth canal and gasp for continually polluted air from the get go, you are then saddled with an automatic debt of $40 k, and growing, before you ever get to your first job making peanuts for raking leaves or babysitting rug rats?

    • SoCalBeachDude

      Well, that is simply the way it is as a result of the irresponsible profligate spending of prior generations here in the USA, and anyone born into that will simply have to deal with it and bear the financial responsibility as a citizen of the USA. Tough luck.

  • CAaT

    This crap is unimportant. The important issue is, are there enough drugs to go around? If not, I’m killing the person to the right and left of me. Now, let it snow.

    • TOUJOURS DEMAIN

      CAat the only logical response to that statement is, my hat has 3 corners.

  • ollie173

    LOL…REALLY, I THOUGHT YOU CONSERVATIVES ALWAYS BRAG ABOUT HOW GREAT A SYSTEM CAPITALISIM IS…LOL…YOU TALK OUT OF BOTH SIDES OF YOUR MOUTH!

  • NoMeansNo

    I know more than one in my circle of acquaintances who do not have 2 nickels to rub together and for one, it is his own fault, b/c he has no concept of how to handle what he has coming in to what he has going out. Even if he gets a windfall, he cannot stand to have a penny unspent. So, he gets on GoFundMe, with some sorry story. But he has done it so often, everyone on there is wise to the guy and avoids donating to any of his campaigns.

  • sister soldier

    No surprise here. A faux savings to match a faux prosperity economy where the rich get filthy rich and the poor get dirt poor.

    • SoCalBeachDude

      That is simply the natural order of all economies.

  • Stuey

    The author acts like everyone makes enough money to be able to save for an emergency fund. Do you not realize most people are living hand to mouth and having any money left over to save is totally out of the question.

    • sister soldier

      And that boasts for most people in today’s new economy. A living wage has been plundered by the greedy 1% and denied on purpose. The 99% represented by the working class must fight for the remaining right to live without the American dream and for over half of that percentage “the elusive dream” will never become a reality.

      • Stuey

        Not so says SoCalDrugHeadDude……..he has stated on numerous occasions that people are overpaid in the USA. HAHA.

        • sister soldier

          That may be true especially in DC. I just can’t see why we now have the most millionaires to ever “serve” on the Hill than ever before and the country is in the shape of rampant poverty. Most became millionaires while serving. That is the reason they cannot raise the minimum wage because they have hoarded all the wealth for themselves. Their job description states basically to “swindle the sheeple” while tying up legislature for job security. Also, a PhD in lying is mandatory.

          • Stuey

            Of course, DC is full of corruption. Corrupt to the core. That is becoming more obvious now. But SoCalDrugHeadDude isn’t talking about the politicians. He thinks the average middle income worker in America is making too much money. All the while he admits to being a millionaire living on a trust fund in Beverly Hills. So just as you say, no wonder he thinks workers are making too much, he wants to swindle the poor people.

          • sister soldier

            Thank you for the clarification.

          • SoCalBeachDude

            One of the biggest problems in Washington DC is that is is HANDING OUT FAR TO MUCH MONEY THAT IT DOESN’T EVEN HAVE TO SO-CALLED “poor” people.

        • SoCalBeachDude

          Most people are WAY OVERPAID in the USA and should have what they are paid substantially reduced which is precisely what employers are doing through hourly cuts and outright firing of millions of employees and that has been the case for the past 40 years.

      • SoCalBeachDude

        There is no such thing as a “living wage.” An employee will only be paid WHAT HE OR SHE IS WORTH TO HIS OR HER EMPLOYER and not a penny more or they can go find another job that that some employer will pay them more if they can perform a particular job profitably for that employer.

    • SoCalBeachDude

      Everybody can in fact save a portion of the income they have by simply not wasting money they get on useless stuff, and the only reason some people are “living hand to mouth” is that they are GROSSLY IRRESPONSIBLE about managing money and not living within their means.

      • Stuey

        So says the millionaire who lives off Trust Funds in his Beverly Hills mansion. You really have NO CLUE what it is like for a lot of people in this world so your statements on this topic carry no weight. Actually, you should just your ignorant opinions on this matter to yourself.

    • James

      Considering a large majority tithes, I think we found a solution.
      Stop tithing, just because a 3,000 year old book written by an anonymous person told you so doesn’t mean it’s true!

  • richjerk1929

    stop marrying , stop buying useless junk.

    • sister soldier

      Stop marrying?

      • richjerk1929

        yes

        • sister soldier

          How does that help?

          • richjerk1929

            Its not you grandmothers marriage anymore these days.

          • sister soldier

            You must be single with a disposition like that one. Love always finds a way but I guess your point is that you don’t need to be married to be in love right? Or is it a tax thing?

          • richjerk1929

            the courts and feminism have made marriage a losing proposition for men.

          • sister soldier

            I don’t know… my state favors men. They dump everything in a bucket so to speak, all assets and liabilities and they split it down the middle. If you get verbally combative with the judge or defiant they order everything to the parking lot and it is divided there. It’s cheaper to keep “him” in my state the other option will get you 25 to life.

          • richjerk1929

            marriage is uneccessary to be in love

          • SoCalBeachDude

            Many folks totally disagree and it is a social construct for having children.

  • Stuey

    He is just homophobic. Everyone knows Asheville is the San Fran of the east.

    • JC Teecher

      I don’t know about it being anything like San Fran/aka gay bay, but it sure has a diverse population. The first future ex-wife, and I spent a lot of time there in the mid 70’s, and then later moved to our 3 room shack with a dirt floor in the Pisgah National Forest when I transferred to that region as a bank Manager.
      the changes of the population started back then as the Floridians moved North to that city, and the Northerners moved south. They loved the climate and diversity and culture, and the atmosphere of becoming an artsy fartsy snootyfied town.
      I would not live there now, but have no problems with people, that seem to like it.

    • SoCalBeachDude

      Are you really that clueless, dude?

      • Stuey

        So you are not an anti-semite racist homophobe?

  • GSOB

    The article underscores the real problem of inflation……
    .
    .
    .
    .
    .
    .
    .
    .
    .
    .
    it’s BAD for savings.

    • SoCalBeachDude

      We are in a GLOBAL DEFLATIONARY SPIRAL with the prices of all commodities FALLING SIGNIFICANTLY with resulting drops in prices of consumer goods including gasoline and food, etc.

  • GSOB

    If banks and governments inject more cash and credit into the economy, people have more disposable income to spend,……. but if they’re all chasing the same number of goods and services as before, ….
    it just means that they can all offer more money for it

    • SoCalBeachDude

      Banks NEVER “inject more money into economies” and the notion of that is an absurd idea. Money is NEVER “given away for free” at all by any central bank, and certainly NEVER the Federal Reserve.

  • SoCalBeachDude

    Nobody is forced to buy anything and people need to learn to manage whatever money they have responsibly.

  • SoCalBeachDude

    Anyone who who borrows beyond their means is being VERY FINANCIALLY IRRESPONSIBLE AND IS ENTIRELY TO BLAME FOR ANY ADVERSE CONSEQUENCES THAT OCCUR TO THEMSELVES.

  • James

    “Despite all of our emphasis on education,”

    This is hilarious considering this blog tried to justify poor economic performance by averaging raw percentages of compounded growth.
    http://theeconomiccollapseblog.com/archives/over-the-last-10-years-the-u-s-economy-has-grown-at-exactly-the-same-rate-as-it-did-during-the-1930s
    Clearly CAGR = (New/Old)^(1/Time) and FV = PV(1 + 1/compounding periods) ^ (Rate * Time) are too difficult to understand.

  • SoCalBeachDude

    The Federal Reserve policy target does no such thing at all as you falsely assert. There is NO INFLATION of any sort at all in the US on a broad general basis and, in fact, there is a significant intensification of the GLOBAL DEFLATIONARY SPIRAL as is very evident in all of the world’s 27 major commodities which have been plunging in price for the past nearly 6 years.

  • SoCalBeachDude

    Asheville is a TINY LITTLE TOWN with a population of only 88,000 people in the middle of nowhere in the Appalachian Region in North Carolina.

  • SoCalBeachDude

    Thank you. The only 2 central banks that I am aware of that are purchasing equities are the SNB (Swiss National Bank) and the BOJ (Bank Of Japan). But their stock purchases are very small relative to the size of the US and global markets and are not in any way “propping up” stocks.

    • Stuey

      So once again he calls the author of this blog a liar.

      • SoCalBeachDude

        Absolutely false.

        • Stuey

          Then what do you call it? You just said the article is wrong. The author wrote the article.

          • SoCalBeachDude

            I’d suggest you go read that article again and attempt to actually comprehend it.

  • Siloo Kapadia

    Stupid article if ever there was one. Of course most Americanos don’t have emergency funds. It is hard to do so when one is barely making ends meet and trying one’s best to not dissave, so how the heck are they going to SAVE? Most good employment is going the way of the dinusaur, and the government is only making things worse. Now with Medicaide about to get whacked, it is no surprise that most people have no savings whatsoever, much less emergency savings.

    • SoCalBeachDude

      The article is EXCELLENT, but there is no need for any separate “emergency fund” at all. Just keep tens of thousands of dollars or more in your checking account and you can easily handle any so-called “emergency expense.”

  • SoCalBeachDude

    Larry Summers is a total DIM BULB and doesn’t understand much of anything when it comes to finances. The Federal Reserve does not do what you assert at all.

    • South Texas

      Yes, I’m well aware of what an idiot Summers is kind of like you, but the Fed has official policy of higher inflation.

      So if there is no inflation, why does $20 buy less now than 15 years ago? A regional burger place has raised prices at least 20%.

      Only a dim bulb like you could tell me there is no inflation.

      • SoCalBeachDude

        There WAS inflation prior to 2007, but since then there has been practically NO INFLATION WHATSOVER IN THE US.

  • The system is rigged to discourage capital formation all the way from getting an education to being punished for making more money with exponentially higher taxes.

    • SoCalBeachDude

      Absolutely false and that is vastly more capital out there than anyone has the slightest bit of an idea what to do with which is precisely why we have such preposterous ASSET BUBBLES all over the place in US financial markets.

      • There is plenty of money available for the people who can borrow at 0.75%.

        • SoCalBeachDude

          Nobody can borrow money at 0.75% from anybody in the US and borrowing money does nothing to increase capital formation at all, but just increases debt.

  • Perplexed Pete

    All “money” in our system is created out of thin air when bankers issue loans. 95% of all this “money” does not exist in any physical form; it exists only in the hard drives of of the banker’s computers. Yes, the government “prints” the paper money and stamps the coins that make up the remaining 5% of our money supply, but these notes and coins are sold to the banks for the cost of production. For example, a bank buys one hundred dollar bills from the US Treasury for less than twenty cents each!

    In other words, we have a “debt-based money system.” It is really a legalized-counterfeiting, debt-enslavement scam. Almost everyone is buried in debt, and must work feverishly to pay interest to bankers who never loaned anything in the first place! These bankers also own the “Central Banks” like the Federal Reserve, which keeps the government buried in debt up to their eyeballs. Much of your tax dollars are shoveled to the bankers as interest payments on the “National Debt.”

    The government forces us to use this debt-money substitute in two ways: 1) Legal Tender Laws require all contracts to be settled using the fake, debt-money.
    2) All taxes must also be paid with the fake, debt-money.

    Personal debt, business debt, and government debt are all the same, sneaky, dishonest mechanism. Too bad your politicians, teachers, professors, religious leaders, and television news shows never told you about this! I wonder why the author of this article never mentioned it?

    • SoCalBeachDude

      Laughably false and totally bogus assertions. Banks NEVER create any money at all and NO BANK MAY EVER LOAN OUT MORE THAN 90% OF THE AMOUNT OF ITS CUSTOMER DEPOSITS IN THE US.

      I would suggest you learn about the Federal Reserve at:

      http://www.FederalReserve.gov

      I would suggest you learn about the US Treasury at:

      http://www.TreasuryDirect.gov

  • SoCalBeachDude

    WASTEFUL SPENDING BY THE SO-cALLED “POOR”…

    Low-income families spend 40% of money on luxuries…

    http://www.marketwatch.com/story/low-income-families-spend-40-of-their-money-on-luxuries-2017-06-28

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