finknottle Posted October 1, 2008 Share Posted October 1, 2008 Not "spending" at all. Like most Americans we're getting by. It's laughable to hear people blurt out nonsense like "suck it up and put away money." You don't think people would if they could? You think everyone that's just living within their means can just sock money away? The problem is that you just assume everyone is lazy or throwing money around in some spending frenzy. So who is out there buying designer sneakers? Bill Gates? I see a lot of people going to pricey sports events and concerts. I guess those are the rich, not average Americans. And premium cable, $50 a month? Only for the well-off? Movies at the theater? Booze and lottery tickets? And what about vacations? Is it the affluent who are taking all those weekend Vegas getaways? Link to comment Share on other sites More sharing options...
IDBillzFan Posted October 1, 2008 Share Posted October 1, 2008 There's no way you're really as dense as you're pretending to be with this response. Obama wants to increase taxes on the top 5% of earners, cut the taxes of 95% of the country, of which about 40% DON"T EVEN PAY TAXES, and take the money from the top 5% and give it to the 95% FOR NO REASON except that such a concept will get him elected. Not sure why I'm the one who sounds dense. Link to comment Share on other sites More sharing options...
Chef Jim Posted October 1, 2008 Share Posted October 1, 2008 meaning the people here do not have the assets that you see... So people in Buffalo don't save money? Link to comment Share on other sites More sharing options...
IDBillzFan Posted October 1, 2008 Share Posted October 1, 2008 That is their job, not yours or mine. Not to a liberal. Link to comment Share on other sites More sharing options...
HereComesTheReignAgain Posted October 1, 2008 Share Posted October 1, 2008 So it's ok for "poor" people to be out of touch with the "rich" but it's somehow a sin for the "rich" to be out of touch with the "poor." Why aren't the "poor" contacting the "rich" so ask "so tell me, how did you do it." Asking the rich how they became rich means you are actually taking responsibility for your situation. It's much easier to blame someone else. Link to comment Share on other sites More sharing options...
Wraith Posted October 1, 2008 Share Posted October 1, 2008 Obama wants to increase taxes on the top 5% of earners, cut the taxes of 95% of the country, of which about 40% DON"T EVEN PAY TAXES, and take the money from the top 5% and give it to the 95% FOR NO REASON except that such a concept will get him elected. Not sure why I'm the one who sounds dense. Nice. Couldn't formulate a response? How is this even remotely related to how many homes John McCain has and whether or not he can relate to the average American as he claims? Link to comment Share on other sites More sharing options...
Johnny Coli Posted October 1, 2008 Share Posted October 1, 2008 How much was the car? How much was the condo? We all have to buy cars but if the car you're buying causes you not to be able to save for your future you can't afford that car. You are never going to win this arguement with me. Really? The car allows someone to expand the area of where they can find work opportunities outside of just a zone of public transportation, better opportunities that they might not have access to witout personal transportation. Paying a condo's mortgage is far more future-thinking that just renting and paying some landlord's mortgage for him. We didn't save for a Mercedes. We had a 400 car, then saved and got a better car, then saved and got a new car because I didn't want an old used car stranding my wife on the side of the road. Seriously, this is reality. I'm not pining away for a handout. I'm just using my own case to show that it's very possible for someone in their 40's to not have 230k saved for retirement. It's really not that uncommon. It has nothing to do with being lazy, refusing to save, or being ignorant. Link to comment Share on other sites More sharing options...
finknottle Posted October 1, 2008 Share Posted October 1, 2008 For the last time, the bailout is of the entire financial system, not of companies or individuals. Trying to assign blame is a Sisyphusian feat. True. The problem is that the solution, while distastefull to both the left and the right, is not self-evidently the right thing to do. Will it fix things, or will it be good money after bad losses? And will the alternative really play out as described? We just don't know. It's some mighty foul medicine being pushed by Doctor Nick Riviera, who may or may not have a financial interest in selling it to you. Link to comment Share on other sites More sharing options...
IDBillzFan Posted October 1, 2008 Share Posted October 1, 2008 Nice. Couldn't formulate a response? How is this even remotely related to how many homes John McCain has and whether or not he can relate to the average American as he claims? Look at the comment of mine that you quoted. I answered it. I can't help it if you're unable to connect the dots. Let me make it easier for you: John McCain trying to paint himself as an average American makes as much sense as Obama trying to paint himself as someone who actually fancies himself capable of running this country. Two people are selling themselves. Both are full of shiiit. But to complain...as most libs do...that someone has more than someone else and THAT is a problem is just pathetic. Link to comment Share on other sites More sharing options...
Johnny Coli Posted October 1, 2008 Share Posted October 1, 2008 So who is out there buying designer sneakers? Bill Gates? I see a lot of people going to pricey sports events and concerts. I guess those are the rich, not average Americans. And premium cable, $50 a month? Only for the well-off? Movies at the theater? Booze and lottery tickets? And what about vacations? Is it the affluent who are taking all those weekend Vegas getaways? Ah, now it's becoming clear. You think the working class should just schlep back and forth to work every day, never giving a thought to the quality of their life. Wear your crappy shoes. Drive that crappy car. Never take your spouse to the movies. Never take your kids to a sporting event or a vacation. Work and save. Work and save. How freaking out of touch are you? Those are the small things people do to give their everyday lives value. I see nothing wrong with that at all. Link to comment Share on other sites More sharing options...
Joe Miner Posted October 1, 2008 Share Posted October 1, 2008 Really? The car allows someone to expand the area of where they can find work opportunities outside of just a zone of public transportation, better opportunities that they might not have access to witout personal transportation. Paying a condo's mortgage is far more future-thinking that just renting and paying some landlord's mortgage for him. We didn't save for a Mercedes. We had a 400 car, then saved and got a better car, then saved and got a new car because I didn't want an old used car stranding my wife on the side of the road. Seriously, this is reality. I'm not pining away for a handout. I'm just using my own case to show that it's very possible for someone in their 40's to not have 230k saved for retirement. It's really not that uncommon. It has nothing to do with being lazy, refusing to save, or being ignorant. There are always cut backs someone can make in their life. There are various cars of all price ranges someone can buy, the same with houses. People in general need to do a better job of prioritizing needs and wants. Saving money has to be more of a priority that many people make it. It needs to be right up there with providing a roof over your head and food on your table. Save the money first. Pay bills second. If you find you can't afford your bills when you have already subtracted your savings, then you need to prioritize your bills into what you have to pay, and what you're paying that could be cut out or cut down. If you're living paycheck to paycheck, saving nothing for the future, you are living above your means. Link to comment Share on other sites More sharing options...
GG Posted October 1, 2008 Share Posted October 1, 2008 True. The problem is that the solution, while distastefull to both the left and the right, is not self-evidently the right thing to do. Will it fix things, or will it be good money after bad losses? And will the alternative really play out as described? We just don't know. It's some mighty foul medicine being pushed by Doctor Nick Riviera, who may or may not have a financial interest in selling it to you. Look at the timeline and ask why would Paulson & Bernanke ask for the relief package two weeks ago, and look what has happened since. Ask why in the world would an industry leader like GE come running to Warren Buffet for $3 bn? Why would giant AT&T, which is minting money, suddenly have trouble in the commercial paper market? Of course, this could be a false alarm and everything will be fine. Link to comment Share on other sites More sharing options...
Chef Jim Posted October 1, 2008 Share Posted October 1, 2008 Really? The car allows someone to expand the area of where they can find work opportunities outside of just a zone of public transportation, better opportunities that they might not have access to witout personal transportation. Paying a condo's mortgage is far more future-thinking that just renting and paying some landlord's mortgage for him. We didn't save for a Mercedes. We had a 400 car, then saved and got a better car, then saved and got a new car because I didn't want an old used car stranding my wife on the side of the road. Seriously, this is reality. I'm not pining away for a handout. I'm just using my own case to show that it's very possible for someone in their 40's to not have 230k saved for retirement. It's really not that uncommon. It has nothing to do with being lazy, refusing to save, or being ignorant. I never said it had to do with being lazy. It has to do with not planning. There is nothing wrong with renting if buying means you can't afford to fund your retirement. You don't need a new car if that new car means not funding your retirement. When I started with this company I drove a Saturn with 185k miles on it. I worked my way up and eventually tripled my income. I bought a Hyundai...whoohoo!! I bought a house ONLY after I sat and figured I could do it and still fully fund my retirement...oh and that was while I was still driving the Saturn and not making a lot of money. Funding your future is not a luxury, it's a necessity. But that's right, you're a lib, uncle sam will take care of that. You think you're living paycheck to paycheck now, wait until those ss checks start coming in. I hope you still have your CIA cookbooks, I think there's a chapter in there called "101 ways to make catfood taste good." Link to comment Share on other sites More sharing options...
taterhill Posted October 1, 2008 Share Posted October 1, 2008 So people in Buffalo don't save money? are you seriously debating the fact that people in your area have higher assets then people in the WNY area? My client base is full of "JoeSixPacks" in their 40's...... Link to comment Share on other sites More sharing options...
blzrul Posted October 1, 2008 Author Share Posted October 1, 2008 Why would giant AT&T, which is minting money, suddenly have trouble in the commercial paper market? HA! I worked there...don't get me started. Link to comment Share on other sites More sharing options...
Chef Jim Posted October 1, 2008 Share Posted October 1, 2008 are you seriously debating the fact that people in your area have higher assets then people in the WNY area? My client base is full of "JoeSixPacks" in their 40's...... No I think that you're debating that they do. I'm debating the people need to save money regardless of where they live. Link to comment Share on other sites More sharing options...
PastaJoe Posted October 1, 2008 Share Posted October 1, 2008 Look at the comment of mine that you quoted. I answered it. I can't help it if you're unable to connect the dots. Let me make it easier for you: John McCain trying to paint himself as an average American makes as much sense as Obama trying to paint himself as someone who actually fancies himself capable of running this country. Two people are selling themselves. Both are full of shiiit. But to complain...as most libs do...that someone has more than someone else and THAT is a problem is just pathetic. We have the physical evidence that McCain is not an average American from an economic standpoint. What evidence do you have that Obama is incapable of running the country? Not just to run it the way you would like, but incapable of running it. Link to comment Share on other sites More sharing options...
John Adams Posted October 1, 2008 Share Posted October 1, 2008 Read the rest of the post. I read your post and echo what someone else said. You should really talk to a financial planner. Not a single one would tell you to save for your kids college BEFORE saving for your retirement. I bet there's hardly a full-time employed couple in the USA that couldn't figure out a way to save 12K/year. Read The Millionairre Next Door. It's a sobering look at America's millionairres, most of whom are not Paris Hilton or pro athletes, but people like my uncle Bob. He was a miserly !@#$ who worked as an assembler at GE (read: very low wage worker). Lived in 1 home his whole adult life. Used to switch banks every 2 weeks in the 50s because banks were offering 2 shares in a newfangled thing called a mutual fund. Never traveled. Bought used cars he drove to dust. Retired at 65...lived 20 more years. When he died at age 85, he still had 2.5 million dollars. All his that he earned from his years as an unskilled laborer. 2.5 million. Right at the end, the MFer wouldn't buy a new pair of socks and was asking women in his retirement home to help him sew the holes closed. Link to comment Share on other sites More sharing options...
Chef Jim Posted October 1, 2008 Share Posted October 1, 2008 I read your post and echo what someone else said. You should really talk to a financial planner. Not a single one would tell you to save for your kids college BEFORE saving for your retirement. I bet there's hardly a full-time employed couple in the USA that couldn't figure out a way to save 12K/year. Read The Millionairre Next Door. It's a sobering look at America's millionairres, most of whom are not Paris Hilton or pro athletes, but people like my uncle Bob. He was a miserly !@#$ who worked as an assembler at GE (read: very low wage worker). Lived in 1 home his whole adult life. Used to switch banks every 2 weeks in the 50s because banks were offering 2 shares in a newfangled thing called a mutual fund. Never traveled. Bought used cars he drove to dust. Retired at 65...lived 20 more years. When he died at age 85, he still had 2.5 million dollars. All his that he earned from his years as an unskilled laborer. 2.5 million. Right at the end, the MFer wouldn't buy a new pair of socks and was asking women in his retirement home to help him sew the holes closed. That book is pretty much required reading in my branch. After a rep reads it the all of them pretty much order dozens of copies to send to the clients. It's good stuff. Link to comment Share on other sites More sharing options...
bills_fan Posted October 1, 2008 Share Posted October 1, 2008 That book is pretty much required reading in my branch. After a rep reads it the all of them pretty much order dozens of copies to send to the clients. It's good stuff. William Danko was one of my professors in college. Nice guy, but got just a bit full of himself his 2nd year on the NYT bestseller list. Link to comment Share on other sites More sharing options...
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