Actually, 66% of full-time workers participate in a retirement plan, you're misreading the numbers I posted.

As for your children's opportunity for a good income compared to your own:

I have no idea what 'participate' in a pension plan means. I remember reading a couple of years ago that the average American had 10k set aside in their 401k. IF that's true it's just as good as having nothing.

Well, ignoring inflation and increasing HC and Housing costs my kids will be hood rich in no time. Good to see that the neo liberal vision is working out well for a few at the top though. In the end, that's all that matters. Just don't hunt the king's game and you'll be fine.

Close, I guess. If all goes well, my kids should all be out of the house by the time I'm 45. One down, two to go. The youngest is 15, so fingers crossed. But I made it clear to all of them that they can stick around as long as they want and encouraged them to do so because I want them to get off on the best financial foot they can. I moved out of my parents house at 17 and used credit cards to finance our life. Mistakes were made, and I don't want my kids to repeat them.

The rest of your post is nonsense. Not everyone lives in San Diego or Boston. If they DO live somewhere that eats up a majority of their income for housing, then it's time to move.

I know how easy it is to spend $100k a year and wonder where it all went, but I also know what it's like to only make half of that and still provide a stable and functional household for a family of 5, even though the checking account balance never went above $1000. We relied on daycare assistance early on when my wife was still finishing college. $300 per week per kid is an awfully steep hill to climb and I know why some people just say, "**** it" and have one parent stay at home. But that's not the only option. The government hands out money like candy on Halloween if you're willing to fill out some paperwork for it. We've paid back our assistance many times over since then.

But we also know people who signed up for assistance and then put their lives on cruise control. Now 20 years later they aren't any better off than they started. That's why you can't spend your way out of a poverty crisis. No matter how much you give some people, they just won't leverage it into self-sufficiency. Like failures in education, it's a people problem not a money problem.

quite solid foundational basis you got for owning the incels, perhaps it's best you stop posting

Someone is butt hurt.

And I'm not even warmed up yet. I don't think I'll be stopping any time soon.

A little debt is fine .
Humongous debts never is .

Yes , if it’s debts that it’s use for productive uses it’s fine but the US are using it to pay everyday bills .

If the burrowing market wasn’t manipulated , the US ( and other countries too ) would of been bankrupt for a very long time by now.
I don’t think many people realize how the situation is critical around the world .

Right. You lived paycheck to paycheck. Which was pretty much my point.

It may not have occurred to you that it's insane to be expected to do that with tow earners both in what are considered good middle class jobs. But it is.

Good for you that you didn't have a sick kid or you or the wife or any other of a thousand obstacles that you wouldn't have overcome, seeing how you were relying on charity as it was.

Who cares about your friends? We all know bedbugs. They don't get ahead. But that isn't a reason to try and make the system harder for your kids. I mean, it was impressive when I heard the stories of what my grandparents did but I never imagined that's what I was going to set my kids up with. And yet, it's here. Odds are they'll die poor and sick. Not because our economy can't afford to take care of workers but because people are too stupid not to work for cheap.

It's your job to make sure your kids don't die poor and sick.

Take a break from being snarky on the internet to make sure they have the tools needed to succeed in life.

That chart shows inflation-adjusted income for the median family.

well rflush, i guess mass suicide is your family's only solution right?

In the 1980s, 1 family was able to support itself with 1 salary.
Today you need 2 to get by .

About debts ?
The US total revenues is around 3 trillions on about a 21 trillions gdp economy .
The US as a massive trade deficit for decades .
How will they produce income when the US economy is based mostly on consumption and stock market than anything else ?
US producing something ? How ? Trade deficit exist for a reason and good luck competing with China paying their worker 2$/hour .

Imho , you are about to be shock by a big surprise soon enough if you think the US economy was great for the last decade .
Stock market/Wall Street isn’t the economy of the majority of the Americans .

Fwiw, 65% of American having a pension plans isn’t info enough .
Multiple pension plans out there are in critical condition and still you got around 35% of American who’s got nothing .
I see those numbers and I should think that is a representation of a robust economy ?

Simple question .
The US got super low interest rates because of his debts .
How you think pension plans in the futur will be if they can’t get decent interest rates for futur benefits ? Printing more money by raising more debts ?

https://www.actuary.org/content/over...t%2020%20years.

LOL

Says the guy who needed charity to feed his kids.

I prefer homicide in a surgical manner.

Suicide is lame.

The rise in dual-income households is a trend that started in the 50s due to increased female participation in the workforce and continued until 1990 or so. I'm not opposed to that. Since 2000 it has declined a bit:



Today 33% of households with children 6 or younger are single-income. The average income for these households is $63,507 and average money spent is $57,760 (compared to $117,380 and $82,020 for two full-time working parents). Obviously that is not rich, but that is still enough for a middle-class lifestyle.

I'm confused as to what your argument is here. The trade deficit is irrelevant to debt considerations. GDP growth is what's important.
Nah, you don't understand the American economy.

Here are contributions from different sectors to GDP growth from the last quarter:



I agree, it's not enough, and underfunded pension plans are a problem for Americans, although not enough to think the US economy will stop growing. Also only tangentially related to whether 70% of Americans are struggling to get by because they don't have enough money.

I expect interest rates to rise a bit over the next few years from the very low level they've been at recently, but probably still remain below historical norms. Pension plans have relatively little to do with interest rates on the national debt.

I don't know. Something is fishy. You're claiming wages are increasing but wealth is being lost.

Damn radicals. Why can't they just work 12 hours and be happy.

[x] outlier in the middle
[x] 20k more wealth than 1983 per household
[ ] ability to read charts

What is fishy here? The article you pulled that chart from also says that median family income is rising. Isn't this my point? People are making more money, but even so they don't put much into savings and so live paycheck-to-paycheck. The huge drop in wealth is because the main financial asset owned by the median family is their house, and so they saw a huge drop in wealth due to the housing collapse during the '08 recession. Thus, eye-popping numbers like 70% sometimes live paycheck-to-paycheck are more a story about how Americans budget and manage their finances than whether these families make enough money to get by.

he's so eager to prove life is futile that he's not even bothering to see if the data he provides to backup his case actually does indeed backup his case

and yet we're the incels who have no concept of how the world works

maybe if he had a fancy prep school education he'd know how to read a chart or if not that read english words formed into sentences surrounding the chart

Well I know how mine turned out, and you're telling us yours are going to die poor and sick. My PMs are open if you need some life advice.

Happy to help a lost angry soul.

That trend really only exists if you look at white people. Black women have been working since the 1800s. And when married white women started working in the 1970s, black women were hired to mind their house and kids.

So because I want to work towards making the government I pay for better I'm lost and angry.

You, on the other hand, who are irresponsible and need other people to raise your children will be happy to tell me how you did that.

I just think it's funny how the conservative mind views the world. You don't worry about your kids and lie to yourself about what you did to help them and probably how well they're doing in life and then start whining about anyone who wants to problem solve.

I couldn't be angry with you if I tried. You make my day.

Yes. Living paycheck to paycheck and losing your house are all signs that America is doing well.

I don't know how any reasonable person could argue otherwise.

I mean you're taking home 8% more between you, your wife and your 2 adult kids that can't afford to move out. Easy street.

That does seem to be what the neo liberals are arguing for here.

They want the average white family to live like the average family of color did in the 1800s.

Fortunately for the neo liberals, we're not that far from that reality.

Those are the easiest points , I’ll get to others later .

The trade deficit is important because how can u have higher gdp growth if you don’t produce anything more ?
So why you have a high trade deficit ?
Because all over the world it cost much less to produce stuff ( old US job been transfer overseas).


Your point about pension plan , unless I’m mistaken, was an answer about Americans are fine with their income because 65% had a pension fund .

My point is with such already problematic pensions funds , which will grow higher in the future , isn’t a good argument to think the income are sufficient because that asset (pension funds) aren’t 100% reliable anymore .
There is a wall coming .


You can forget about interest rates going higher , they can’t !
They are close to its maximum already .

Hint :look back in 2018 when the fed mini raise interest rates (only 1% in total) , look what happened .
Stocks market fell around 20% and the fed had to back up and lowered again interest rates .

And that is with a lower debt btw .

You already have about 20% of zombies company in the US , meaning they can’t even pay the interest on their debts let alone , their debts ...

The private sector is crumbling under debts , not just the government.
Nvm hiking Interest rates , it would crash down down evrything .
Interest rates are here to stay low for a long time .

What does that mean for pensions plans ?
Well historically , for pension plans to work you need a lot higher interest rates to grow their capital to be able to pay the benefits of its members .
Interest without risk was the government treasuries, the US are so badly place now they can’t even pay decent interest for his debts holders .
That is how weak the US are ....and how badly the pension funds are . They will have to take much higher risk and probably cutting the benefits to get by .

This basically contradicts your earlier point about how families used to survive on 1 income, but now need 2. And just the raw data, the trade deficit has gone from ~ 0 in the 70s to around 900 billion now. In that time the US has created 90 million jobs. Effectively keeping pace with the increase in working age population.