Most American's buying power is limited by their reliance on debt. If you spend within your means and grow your means, you success. If you borrow and your means track with your growing payments, you remain poor. It's pretty simple, actually. Gluttonous spending is the problem.
We don't have to speculate, we have the math. The median income has been falling behind rising costs of living while all of the added gains of the economy go to the top. Is your argument that they should just pile 18 people into a 1 bedroom apartment?https://www.youtube.com/watch?v=5kwA-CwFK5A …
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How do you think people new to America become rich? They make initial sacrifices & pragmatic choices, so that they live a life of relative ease later. How many people buy a new iPhone every year that shouldn't, get a car on payments, or use credit cards for frivilous spending?
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The same way a handful of people become NBA all stars. Some1 will always do better than everyone else. It doesn't follow that everyone can do it. The economy is like a game of music chairs,. Pointing out that X # of players found a chair doesn't mean there's one for everyone.
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I worked for a bank and reviewed accounts for tens of thousands of people. The ones that were always broke sometimes made more than the ones that weren't. Spending choices matter.
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Funny thing is studies don't bear this out. I'll take peer-reviewed studies over your unverifiable anecdotes. In any case, none of this changes the fact that median wages keep falling behind rising costs of living.
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