Posted on 02/13/2024 4:52:54 PM PST by davikkm
In the aftermath of the pandemic, wealth inequality in the United States has intensified, according to reports from the New York Fed and Reuters. This outcome aligns with expectations, given the surge in financial assets that largely exclude those with minimal net worth. Individuals without exposure to these assets rely solely on earnings growth to accumulate wealth, further widening the economic gap.
A concerning trend accompanies this disparity. Credit card debt witnessed a significant uptick, surging by 14.5% in the fourth quarter of 2023, as reported by CNBC. This increase places additional financial strain on individuals grappling with a lack of exposure to soaring financial assets.
(Excerpt) Read more at citizenwatchreport.com ...
It’s all so mysterious.
Hell, I'll happily drive my used Subaru with 200,000 miles on it.
Wealthy people do charge large amounts on their credit cards - they just pay it off every month. So the total outstanding may or may not be meaningful.
I would like to believe credit card “debt” is the amount being carried over after the payment dates.
Those Escalade payments on your EBT’s are gonna have to be covered........get more of Whitey’s money somehow.
Normal for a Prog Socialist/Marxist Democrat run Government.
They should observe my credit cards,.......😳
So you’ve got people who choose to live in tents in the woods. (I know two such people. It is their choice). And you have wealthy people who are getting wealthier.
Isn’t the wealth inequality a good thing?
The impact of the re-starting of the Student Loans is showing itself.
It is going to take them a few months to re-allocate their spending to make the loans and live a life without depending on “easy credit.”
The people impacted are just hitting their professional stride and starting their higher earning years. Their progress is going to be retarded by this. Loan payments never should have stopped. And once stopped, they should have been restarted much sooner.
And the funny thing is that these payers are pissed at Joe…because he said he was going to take care of it.
The wealthy need a middle class buffer, although many of them do not realize this.
There is a wealthy neighborhood here in our giant ghetto known as Memphis. It’s maybe two or three square miles.
On one side is a not too awful ghetto. On the other side is a really awful ghetto.
The wealthy people cannot leave their gated communities after the sun goes down because all the middle class areas that served as a buffer collapsed.
Simple, the public schools got bad, private schools jacked their tuitions through the roof and the middle class fled the city leaving the wealthy to fend for themselves.
“I would like to believe credit card “debt” is the amount being carried over after the payment dates.”
According to the Federal Reserve:
Balance before payment + Purchases + Other charges
There’s always been inequality - some people have money, come people don’t. If you do any genealogy you’ll see in the records that there were farmers with land who had hired hands and household help. There were homeowners with boarders and servants. It was always rich and poor and then after the war we finally got a large middle class.
It has nothing to do with “wealth inequity” It has to do with 3 years of utterly moronic US Government Energy, Economic, Financial and Foreign policy
Your own Government under Der Biden has been waging economic war on you voters. Wake the hell up finally
Sure it not the Bidenfaltion, it is “wealth inequity”
JUST STOP LYING. Democrats wanted these polices, they implemented these polices so stop blaming everyone else for what Democrat purposefully did.
Biden is for the rich. The rich are for Biden.
The rich are not our friends.
Notice how the recent job numbers have been abnormally high?
You know why? Because hundred of thousands are taking part time work to try and keep up. the others are maxing out their credit trying to make ends meet
The source of all that, such as your Jan Nat gas bill being double what it should be, is the insane polices Biden and the Democrats passed.
It past time the Right stop letting the Democrats lie their way out of accountability over and over and over
Been here 20 years and it the same crap every single time. NEVER does a chunk of this website EVER hold the Democrats accountable for anything. Instead, they make excuses about how “oh it the wealthy, it Putin, it greedy corporations, its the GOP....”
Stop being collators with the DNC. Wake up finally you fools.
The more poverty-stricken welfare seekers that we allow to crash our border, the greater the inequality.
The worse our school system in the hood, the greater the inequality.
The more fatherless, divorce-ridden, drug-ridden homes, the greater the inequality.
Etc.
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