Nearly Half of Americans Are ‘Financially Fragile’ - Real Time Economics - WSJ

[AKUMATOTENSHI]

Quote from joe4422:

I wonder how many Chinese families could come up with 2,000 dollars in 30 days

Under the curremt global economic climate you would be surprised.

http://endoftheamericandream.com/ar...eat-down-busted-and-disgusted-by-this-economy

From the global news sources I read on a daily basis china is starting to export labor to Africa. If this is actually occuring it means that their middle class population is growing very quickly. Other economic and cultural indicators show that westernization is taking hold and the consumer economy is still vibrant. The main difference between china and the rest of the world is the use of credit. There is still a high aversion to consumer credit card use.

Akuma

 

[efficiency]

Quote from achilles28:

Nearly half of Americans say that they definitely or probably couldn’t come up with $2,000 in 30 days, according to new research, raising concerns about the financial fragility of many households.

That's insane and telling.

When Greece visits America, half the country will have NOTHING to fall back on. 150 Million people. Chaos.

Actually. I'd suggest your average Joe Sixpack has about $5,000 liquid and some equity in his home (if any).

He's thinks he's going to retire.

 

[hippie]

Quote from joe4422:

I wonder how many Chinese families could come up with 2,000 dollars in 30 days

You are comparing apples and oranges. USD 2,000 buys a lot more in China, esp in rural China where the poor resides. Also the Chinese elderly parents can turn to their adult children, and young adults can turn to their parents or other family in times of need.

 

[SomeYoungGuy]

Quote from S2007S:

As long consumers can buy the latest smartphone, lease a $50,000 luxury car for $649 a month and buy $10 mixed drinks everything is fine and dandy in this ever worthless economy!

The Chinese iPhone assembly workers, the German auto workers, and your local bartender thank you for not letting them starve. Also the truck drivers, salesmen, middle management, miners, farmers..