The current state of the US consumer. By Gregory Mannarino
This is the current state of the US consumer. Most people DO NOT have even $2,500 for an "emergency" situation. They are living paycheck to paycheck and in debt beyond their ability to pay. Loan defaults are rising. Sound familiar?
Here is how it works.. People are being lied to on such an enormous scale, hearing "how great everything is" every day, that they "buy" the propaganda- The same thing has occurred prior to every other bubble bursting. This time is no different, the middle class ALWAYS loses. This bubble IS NOT done inflating yet.
The need to be awakened from their pathetic slumber. They do you listen to your station so how are you ever going to reach them?
It's also people's fault. Trust me, when they don't have money or work they end up borrowing to go on VACATION. I'm seeing it more and more. The answer is not to go further in debt and then blame the establishment for your own stupidity. Banks and credit card companies are just enabling the behaviour. Who do you blame? The junky or the dealer?
This is heartbreaking to know as against the popular belief that the land is always greener for everyone over there.
It sure does Brother Greg, after losing my $50k+ / yr career in communications back in 2016 I moved to zero income and now earn $14.55/hr slingin' boxes for Fed Ex 20 hrs a week. The sad thing is I was living paycheck to paycheck as long as can remember even when I made "ok" $ and could pay for luxury bennies like medical and dental...As of March 1 www.usdebtclock.org reflected 700k bankruptcies - wonder what that will be by end of year....convicted felons have also jumped from 7 million to 20 million in less than a year's time....go figure -
Sadly people are being lied to on such an enormous scale that they "buy" the propaganda. The same thing occurred prior to every other bubble bursting.
Tell everyone about your Fake History. You are a despicable asshole