Drudge Retort: The Other Side of the News
Friday, May 24, 2019

"Relatively small, unexpected expenses, such as a car repair or replacing a broken appliance, can be a hardship for many families without adequate savings," the report said. "When faced with a hypothetical expense of $400, 61% of adults in 2018 say they would cover it, using cash, savings, or a credit card paid off at the next statement," it added. "Among the remaining 4 in 10 adults who would have more difficulty covering such an expense, the most common approaches include carrying a balance on credit cards and borrowing from friends or family," according to the report.

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In totally unrelated news, the "richest 1 percent in the United States now own more additional income than the bottom 90 percent".

en.wikipedia.org

Because, see, it's really a level playing field; the very wealthy corporations and individuals don't bribe politicians with donations to write favorable tax laws for them while dividing the voters with fearmongered social issues rather than attempting solutions.

And certainly it's not because capitalism, particularly this kind of crony capitalism, doesn't systemically flow money upwards, oh noooooo.

But it is like a poker game where everyone at the table starts with $10, except for one guy who starts with a million dollars.... oddly enough, he always wins. Go figure.

#1 | Posted by Corky at 2019-05-24 12:18 AM | Reply | Newsworthy 1

"the most common approaches include carrying a balance on credit cards and borrowing from friends or family,"

For many people, this isn't struggling but the "normal" way they learned to handle their finances.

#2 | Posted by sentinel at 2019-05-24 12:34 AM | Reply

Talking like Bernie, but selling Biden.

Biggest phony on the DR.

#3 | Posted by SheepleSchism at 2019-05-24 12:38 AM | Reply

What we need is more virtue signalling. Let's get on it guys!

(Jesus the left has betrayed us, but that's why you drink Coca-Cola).

#4 | Posted by HeliumRat at 2019-05-24 11:03 AM | Reply

How does this help us impeach trump for his Russian treachery? We need to focus on that. Screw this stuff.

#5 | Posted by HeliumRat at 2019-05-24 11:05 AM | Reply | Funny: 2 | Newsworthy 1

"40 percent of Americans would struggle......."

POSTED BY CORKY AT 12:11 AM | 5 COMMENTS | PERMALINK | COMMENT ON THIS ENTRY |: I believe that this is nothing new and even back in the 1950s it would apply. Just noways there are polls to 'make news'.

#6 | Posted by MSgt at 2019-05-24 11:17 AM | Reply

#3 ignores Bernie when he says to vote for Hillary and that Trump is a "pathological lair".

Biggest joke on the DR.

#7 | Posted by Corky at 2019-05-24 12:19 PM | Reply

#6

Ah, great, so you agree it's way past time to address the unfair policies that have exacerbated the problem for decades.... address it like FDR and LBJ did. Good for you.

#8 | Posted by Corky at 2019-05-24 12:22 PM | Reply

"40 percent of Americans would struggle......."
POSTED BY CORKY AT 12:11 AM | 5 COMMENTS | PERMALINK | COMMENT ON THIS ENTRY |: I believe that this is nothing new and even back in the 1950s it would apply. Just noways there are polls to 'make news'.
#6 | POSTED BY MSGT AT 2019-05-24 11:17 AM

Really? I understand that the dollar went a LOT further way back then too.

A hamburger was a quarter, stuff like that make the $20 clutch repair attainable.

It must be amazing to see the vast differences in what a dollar can no longer purchase.

#9 | Posted by redlightrobot at 2019-05-24 10:03 PM | Reply

Wonder what their cell phone bills are.

#10 | Posted by Pirate at 2019-05-24 11:17 PM | Reply | Newsworthy 1

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Wonder what their cell phone bills are.

Straight Talk. $35 per month.

And, the whole idea of the $400 dollar emergency is stupid. It's $300 here, $250 there. Winter was cold so the house needed heat... still trying to get caught up on the power bill...

#11 | Posted by horstngraben at 2019-05-24 11:30 PM | Reply | Newsworthy 2

#9 | POSTED BY REDLIGHTROBOT AT 2019-05-24 10:03 PM | FLAG: Apples/oranges - my comment is about ,that no matter when, over time [many decades], there always are those who are not fiscally able to come up with 'emergency monies'. I guess that [a] you're too stupid to comprehend {you are welcome to look that word up} or [b] you chose to purposely misread where I was coming from and chose to skew {you can look up that word too} the narrative --- and there is no [c].

#12 | Posted by MSgt at 2019-05-24 11:46 PM | Reply

#9 | POSTED BY REDLIGHTROBOT AT 2019-05-24 10:03 PM | FLAG: Apples/oranges - my comment is about ,that no matter when, over time [many decades], there always are those who are not fiscally able to come up with 'emergency monies'. I guess that [a] you're too stupid to comprehend {you are welcome to look that word up} or [b] you chose to purposely misread where I was coming from and chose to skew {you can look up that word too} the narrative --- and there is no [c].
#12 | POSTED BY MSGT AT 2019-05-24 11:46 PM

40% is "the norm" in your opinion?

Do you understand when the video points out that 80% of Americans have 7% of the wealth?

What makes the top 1% so "fiscally responsible" that the rest of us don't understand how to save $400? Is your answer "stupidity" again?

#13 | Posted by redlightrobot at 2019-05-25 12:43 AM | Reply

Wonder what their cell phone bills are

Cell phones are pretty much a necessity in this day and age. Sure you can get by with a landline but your landline probably costs as much as a basic cell phone plan so why bother? Especially if you are job hunting it would suck to be driving to an interview for a job and miss a call offering a job from a previous interview. Something that happened to me back in the pre-cell era. By the time I got home and heard the message the job was filled.

And, the whole idea of the $400 dollar emergency is stupid. It's $300 here, $250 there. Winter was cold so the house needed heat... still trying to get caught up on the power bill...

Amen brother. Your piece of crap car may be paid for but every few months it's a few hundred to keep the poor baby alive. Kid gets injured playing well say good by to 150 bucks. Just when you pay off the heating bill from winter it's 95 degrees and the AC bill goes nuts.

It's not one $400 dollar bill but the constant drip of little emergencies. 2 years ago it was a catalytic converter and hot water heater. Last year I got hit with wisdom teeth, and a dead dishwasher.

Just when I thought I was out...they pull me back in.

#14 | Posted by TaoWarrior at 2019-05-25 08:43 AM | Reply

So, the $15.00 minimum wage makes sense though the liars will present all sorts of ridiculous arguments to the contrary. They are liars defending the wealthy oligarchy. Just remember that when you read their posts. They apparently think they are winning favor with their betters. Their betters don't give a crap about them. The last thing we want in America is a class society like England, realize that the wealthy want exactly that, they always have. When you get working people to support it you know our nation has gone very astray.

#15 | Posted by danni at 2019-05-25 09:03 AM | Reply

The remaining 60% will be forced to pay.
~greanie AOC

#16 | Posted by phesterOBoyle at 2019-05-25 09:05 AM | Reply | Funny: 1

Straight Talk. $35 per month

----

For one number. Add 2 or 3 more numbers and it adds up quickly.Add other electronics like TVs, tablets, gaming consoles, games, subscription services, wearables like smart watches or fitness trackers, etc. If you're not paying attention, all those things combined can pinch the budget before you know it. Like all the $20 - $30 trips to the grocery store to pick up a few things.

#17 | Posted by Pirate at 2019-05-25 09:22 AM | Reply

My phone bill runs me just shy of $400 per month. Myself and my youngest daughter have older iphone 8s. The oldest and the wife can't live without getting the newest phone as it comes out. And from what I can tell I'm not alone in my situation.

Median household income is sitting at arouns $61k per year. 40% means that there are likely households making between $40k-$50k who can't afford a $400 pop up expense. In reality, part of this 40% might be people who make a lot more....they're just terrible with their money. I've been there.

#18 | Posted by madbomber at 2019-05-25 09:46 AM | Reply

--Straight Talk. $35 per month

I pay $99 a year and the leftover minutes accumulate every year.
Some people know how to live frugally, and some don't.

#19 | Posted by nullifidian at 2019-05-25 09:53 AM | Reply

DANNI

why $15.00 an hour?

#20 | Posted by Maverick at 2019-05-25 09:58 AM | Reply

"DANNI
why $15.00 an hour?"

Because, in most areas a person can rent an apartment and live almost decently on that abount, I do reaize though that other areas would require a higher minimum wage to enable a person to exist. The present federal minimum wage is $7.25 which is not even enough to hope to have a place to live nor food to eat. Why would anyone oppose a living wage? If people are willing to work, as conservatives complain about all the time, then shouldn't they, at least, earn enough to have a place to live and food to eat? BTW, let me add, Libertarians are heartless ghouls who would do the world a favor by dying or, at least, shutting the f**k up.

#21 | Posted by danni at 2019-05-25 10:25 AM | Reply

--So, the $15.00 minimum wage makes sense though the liars will present all sorts of ridiculous arguments to the contrary.

Not in both Manhattan, NY and Manhattan, Kansas.

#22 | Posted by nullifidian at 2019-05-25 10:40 AM | Reply | Newsworthy 1

"Why would anyone oppose a living wage? If people are willing to work, as conservatives complain about all the time, then shouldn't they, at least, earn enough to have a place to live and food to eat? BTW, let me add, Libertarians are heartless ghouls who would do the world a favor by dying or, at least, shutting the f**k up."

Should the government regulate the sale of other goods or services as well?

What do you think would happen to used car sales if the government imposed a minimum selling price?

#23 | Posted by madbomber at 2019-05-25 02:43 PM | Reply

We live in trailers and apartments too
From California to Kalamazoo
Grow up get married and when that one ends
We hate sleeping alone so we get married again

Don't wanna be buried in debt or in sin
So we pray to Jesus and we play the lotto
Cause there ain't but two ways
We can change tomorrow
And there ain't no genie
And there ain't no bottle
So we pray to Jesus and we play the lotto
~Brandy Clark~

video.search.yahoo.com

#24 | Posted by sunuvavitch at 2019-05-25 02:44 PM | Reply

For many people, this isn't struggling but the "normal" way they learned to handle their finances.

#2 | Posted by sentinel at 2019-05-24 12:34 AM |

Nice to see you recognize the economic disparity in this country is chronic and generational.

#25 | Posted by SunTzuMeow at 2019-05-25 06:24 PM | Reply

#25, absolutely. That's why it makes sense to separate children from their parents, so we can "break the wheel" of chronic and generational poverty.

#26 | Posted by sentinel at 2019-05-25 08:01 PM | Reply

#25, absolutely. That's why it makes sense to separate children from their parents, so we can "break the wheel" of chronic and generational poverty.

#26 | Posted by sentinel at 2019-05-25 08:01 PM

And what? concentrate these kids into camps?

#27 | Posted by SunTzuMeow at 2019-05-26 01:33 AM | Reply

#27, I was being a teensy bit sarcastic there. But why is this surprising in a culture which encourages people to go into debt, regardless of their economic backgrounds? And more importantly, how has this statistic changed over time?

#28 | Posted by sentinel at 2019-05-26 03:41 AM | Reply

Wonder what their cell phone bills are.

Really that is your concern, 40% of America has way over priced cell phone bills which makes it dangerously close to not affording a 400 dollar emergency? You really can't be that naïve and out of touch.

Frankly I think 40% is way on the light side in reality. Average income, not median, is about 30 to 35K a year. 670 bucks a week and your concern is cell phone bill. Your glasses need a different tint or shake your head cause your eyes are stuck.

#29 | Posted by Crassus at 2019-05-26 04:10 AM | Reply

separate children from their parents

15 Million kids live in poverty how do you propose to separate that many kids from their parents is the government going to run crèches? I have a hard time believing there are 15 million parents looking to raise kids who don't have their own.

The answer is a UBI. Get rid of all other government programs roll it into the UBI. Add on universal health care eliminate all other government programs. Then we can do away with the minimum wage and a whole host of business regulations.

#30 | Posted by TaoWarrior at 2019-05-26 05:59 AM | Reply

Really that is your concern, 40% of America has way over priced cell phone bills which makes it dangerously close to not affording a 400 dollar emergency? You really can't be that naïve and out of touch.

----

It's a symptom of bigger problems. Rampant consumerism and poor money management. Those things will sink a person regardless of making $35,000 or $85,000 a year.

#31 | Posted by Pirate at 2019-05-26 10:39 AM | Reply | Newsworthy 1

The percentage of people without money usually increases after every high school graduation. At 18, most kids, now adults, are poor. Their parents, those 40%, don't make those 18 year olds with wealth.

So, what happens to those 18 year olds? They are out of HS. Now what?

How the hell does an 18 yr old with or without a diploma turn out making a living when those older than them never reach their success?

There was a 30 yr old on the corner with a sign begging for money. I see them every week.

Strange that 18 yr old is working at Subway or Starbucks?

#32 | Posted by Petrous at 2019-05-26 06:01 PM | Reply

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