One thing about the video above was that the family they decided to use as the prime example earns $120K, which is waaay above the American average income. How come they can't make do with such an unusually high income? Wouldn't this just be another classic example of people who just can't handle credit cards responsibly? It is not the bank's fault that they overspend, or don't pay their debts responsibly. Everybody knows that credit cards are money traps these days, right?
In addition, I find it slightly offending that they compare this with the Great Depression, where people were STARVING on the streets because they had no money to eat or a place to live. These people are complaining about having to cook their own meals - that's a completely different situation. I understand that bankers use predatory tactics that used to be illegal in America before Ronald Reagan, but that doesn't justify these families irresponsibly overspending their income, and getting into debt like that. I find it odd that these people put the blame on anybody else but themselves. Nobody has forced them to indulge into overspending.
I also find it funny that they have decided to use the state of Arizona in 2011 as an example of real estate crisis, right when Hispanics were being statewide persecuted and forced to run away to other states by Maricopa county's sheriff Joe Arpaio. I was there when it happened. Of course, they left a huge number of rented homes vacant, which generated a real estate crisis. Of course, that had nothing to do with the supposed death of the middle class they try to depict in the video.
They also compare how the previous generations used to have a better share of the American Dream, but that was in a time when banks were not [yet] allowed to charge the crazy APR rates they practice nowadays. It was more forgiving to pay for a loan in those days than it is now. Maybe that explains a few things.
The shit all comes down to greed and polarized politics not only on a national level but more and more on an international level. When Liberal Congress forced banks to give loans o lower income worker in US so they could invest in American Dream even though they not only did not have enough or ANY equity assurance to pay it back that caused an economic crash during the Obama administration. Property got confiscated by over stretched banks who were coerced into taking stupid risks giving those loans to what would have historically been unqualified creditors.
Then they needed bailing out. The Gov forced the damage and the government bailed them out and of course the American tax payer got screwed. It seems to be a pattern of late and one I dread.
It is funny the video called the Tea Part Movement a group of angry bigoted people venting and wanting change.
Yes, Angry and yes wanting change in their disfunctional polarized government whose main purpose for the past 30 years and growing has been for themselves the elites of this country. Of course if they do everything to to help the poor or illegal immigrants everyone else suffers. Now it is Socialism they are trying to shove down our throats and of course noone in the liberal government has any damn idea who is going to pay for it all. Oh yes the top 1% citizens. And when they can no longer be raped financially who pays for all the social grants they want to give to EVERYONE?
It was long ago if you or your family had no money you did not go to college. You got job or a trade and worked. You lived at home until you had enough to get married or move into your own little apartment and become independent.
You learned to be frugal, ate at home and tried to save as much as you could for a rainy day. Now, kids are spoiled rotten, demanding they get the best sneakers and designer clothes, electronics, cars and vacations. Families eat out and disregard th difference between wants and needs.
We are victims not only of the banks who own the credit cards but of Madison Avenue advertisers we "HAVE TO HAVE THIS OR THAT just to make our lives better. It is constant on TV. It was once an ad was less often viewed. No TV ads are running on a 2 to 1 ration. 2 minutes of ads for very 1 minute of broadcast time.
It was once that cable TV was paid for by the consumer if they did not want to see ads. But that changed withing the first two years of Cable TV as slowly more and more ads began showing up on cable broadcasts. It would have been ok for sme but what that did was get everyone addicted to cable and with more and more people subscribing th transmission towers non cable users relied on to get their TV shows to come home wee getting fewer and fewer in yur area meaning if you decided to cut your cable and go back to antennae you would very likely be SOL because you might not be in an are that had decent reception.
These are a few of the issues I have had to deal with myself and there are many many more on a day to day basis I have found keep us poorer than our parents. For instance I invested and have made a lot of money on those investments. Of late as the stock markets are getting destroyed and the American hate trup polarized government compounded not by American economy which is actually pretty good, but by international politics and economics and the overall global geo/political instability. To keep the investments a few years ago no longer being able to wade through the buy and sell skills needed to maintain positive growth, I got a managed account where the brokerage firm gets paid a small percentage of my overall portfolio value to keep the portfolio in good positive growth. But when I see in one month I lose $16,000+ I get real nervous and for the past few months that total has been falling precipitously making me lose more and more, I am thinking now the managers of my funds are not keeping me in the Positive but getting paid anyway that is going to CHANGE!
Wants and needs.
I never eat out, I never go on vacation, I always try to find discounts for services and foods etc as often as I can just to keep from overspending. No movies little driving to save gas and canceling some of the stuff I used to subscribe to for years. Books, music, magazines, wines, etc.
Wants and needs! I may not be living the American Dream like it is sold to us but I try to live comfortably and safely WITHIN MY MEANS without being beholding to anyone. That is MY AMERICAN DREAM!
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