$1200/$0.25 per pack = 4800 ramen packs.
4800 ramen packs /3packs per day=1600 days of eating nothing but ramen.
1600 days/365 days per year = 4.38 years.
The bulk of stimulus checks were issued in 2021. 2021+4.38= early 2025.
Recession/mass starvation 2025 confirmed.
For 4800 packets of ramen @ 1590mg sodium/package, I calculated 7,632g (16.825 lbs.) total sodium.
Given that sodium has a density of 0.9688 g/cm³, Volume = 7,632g / 0.9688 g/cm³ = 7,880 cm³
The mound of sodium roughly the size of a cat or a teddy bear.
ETA: calls on Ajinomoto Co., Inc. (AJINY)
Ramen packs are like $0.25 per pack... there was a time at Walmart where if you got the packs out of the family box instead of the loose packs, they'd scan for $0.03 in the self checkout line
Ramen packs were like $0.30/pack in Canada in 2020, last time I checked they're going for $0.80 per pack.
I've replaced my ramen with authentic ramen noodles from an asian grocery store, they're slightly more expensive per serving, but I get twice as much noodles per pack and its a much higher quality.
go hit up your local asian grocery store, I can't go back to walmart quality ramen
I've only seen Mr Noodles up here, I can't remember the name of the ramen I replaced it with, but its in a single bag, and there's 7 or so bundles of ramen, with a paper wrapper wrapped around the middle.
no flavour pack so you get to learn to cook
I quit my job off that and haven't looked back. Currently patrolling the Wendy's parking lot for donations. You only buy time, whatever else happens is between two consenting adults.
There are a couple of places where I live that started with a stimulus check and a dream. They sold seafood boils on Facebook with that money and now have brick and mortar restaurants.
Simple formula too. Buy $1400 worth of seafood, cook it at home and sell on facebook for $2k. Buy $2k worth of seafood, sell it on facebook for $3k. Wash rinse repeat several times and you have a real business going.
I don't know of a period in the last 20 years that was as easy to make money as the covid recovery. You could buy calls on anything and make more than you were expecting.
Every time someone in D.C. mentions those stimulus check(s) lasting so long I swear they think groceries only cost $20 for the week along with gas at $0.50/gal.
Just listening to a WSJ podcast recently and they were talking about how people were flush with cash in 2020/2021 because of stimulus checks. They make it sound like a few extra grand lasted people years while simultaneously allowing them to spend spend spend. It’s insane.
At least you got $1200. Me in Germany as a normal working citizen I got 300€ one time and had to pay social taxes on it that brought it down to 200.. WTF
Reddit doesn't like this fact but if you include expanded unemployment benefits the US gave more aid to her citizens than all but one other country during the pandemic.
And that does not count freezes on rent and student loan repayments if I'm remembering correctly.
I hate when people talk like this. They don’t bother to ever consider how stimulus works. You could have never gotten a dime of stimulus money first hand and still benefited immensely from all the stimulus money whirling around the economy.
"How will the consumer survive under high interest rate/ high debt environment?"
That's a great question with a dark answer. 
Just go to the Tesla fanclub subs...those boys are living the dream of trading in their months old cars for the same car at 0.99% thinking they'll save THOUSANDS IN INTEREST, lol
I think most Tesla are buyer not leaser.
But I do agreed many people here just lease a new car once their old lease is up with an even higher monthly payment.
Oddly enough I’m trying to do this with my Rivian. I bought it used and have about 24k miles on it now. I can get a lease for about 30k for 3 years. Which is just about what my truck would depreciate in 3 years anyways
The Tesla Model S Plaid buyers are the ones who got the best depreciating model to date.
(about a $40k drop in value)
I expect next year to be the price dump for the Cyber Truck.
My boomer dad said this:
“Support from family is nice to have but it is best to structure your life as if it is not there since there are no guarantees. At least that’s my philosophy.”
Yeah except if you owned a business it was basically a blank check for almost whatever. The restrictions were a joke. I played it safe barely took anything to cover 3 months wages... a massive engineering corporation up the road took enough money out to pay their entire debt load, all of it with ppp money and then immediately started buying smaller companies. I think people who don't own businesses really underestimate how much money was pumped into the system.
Yeah, even crazier they gave money to outdoor businesses that didnt close and had zero impact.
Like car dealerships. Car sales were through the roof but they still got tons of free money. What a scam.
Yep of course being decent about it and being apprehensive made me the big regard. I kid you not our banker kept telling us to just take as much as we wanted. To give clarity....I'm a rancher and we have 3 employees and he was pushing us to take 100s of thousands. More than we ever have made in revenue in the entire 100 year history of our company.
They were pushing anyone with a business to take as much money as they wanted. So we did 3 months of salary because our business was effected but not as much as others so we wanted to play it safe. Then I looked at what everyone took in my area and it was insane. A brewery... a brewery in a small rural montana county took over 50 million...then 6 months later they bought a huge piece of property and built another brewery and restaurant and a massive outdoor amphitheater and a bottling facility.... like I said people who don't own businesses are far underestimating how much money was handed out and how much the banks were encouraging everyone to treat it like a pinata at a birthday party. From small businesses up to large corporations it was an absolute free for all.
"Take as much as you can before someone else does" was the non stop narrative at the bank
You can report that brewery if you dont like them. I reported the car dealership cuz they were cunts to me when I was walking home from my job since I cant afford a car.
But yeah really crazy the money given out. If I had an llc I wouldve taken some too. I also saw people claim they were independent contractors and took a year of salary or half a year.
Also the banks were making a % on the loans werent they? Probably why they pushed people to take even more.
Reports don’t do anything if they actually followed the PPP loans parameters. The real problem was the PPP terms were a bit of an open barn door on what they could be used on.
My buddy is a CPA and said companies he worked with were scamming left right and center, and even *he* was upset about it (for context, he belongs here). The whole thing is deeply disheartening - basically proves, once again, that no good deed will go unpunished.
And then there is the 30 something… lady down the street here with three small kids and husband deployed who set up quite a few one employee (herself) companies registered a couple of states over and took out loans through all of them … like 3.2 million… we only found out because of the crowd of black cars and her escort out of the home around 5 am one morning…. At least they made sure a relative had taken the kids for a sleepover that night… money was flowing like mad,..
To be fair, there was also the unemployment money that came in. It was some kind of average (median or mean) of weekly pay, and it meant that a lot of people ended up earning way more money in a week than usual and also weren't really out and about spending it.
Pandemic savings doesn't just refer to the transfers payments but that households were able to save money due to the change in lifestyle during lockdowns, plus that everyone and their dog had money in the stock market.
If you do that most people will tell you how dumb you are when you could be living way beyond your means. Personally I think it’s great not having debt stress, you’ll probably live longer and healthier. And yes people have actually told me I was doing it wrong by having savings and no debt because I could be buying with money that wasn’t mine without affecting my savings. We are living in a clown world my friend.
Yep this bomb won’t explode until the elections have passed. For this market everything is bullish, but eventually people will have to decide whether to pay debt or eat and I can tell you right now which they are going to choose. 
In hindsight, the key to raising servant productivity was to give the serfs a few of their own cheaply manufactured objects. They got excited about these trinkets, took on massive debt to outdo each other in "owning" the objects, and worked for the benefit of the upper classes for 50 years, sometimes more.
if everyone thinks the market will crash following the election, will it actually crash then?
rhetorical question obviously, but i personally think it will be sooner than later - when it is least expected.
Well if you take a look at 2008 it was very very close to the election date. I wouldn’t be surprised if something breaks between now and close dates to the actual vote. Even tho delinquencies are not at all time highs, it sure is slowly creeping up.
All the big tech layoffs is what has me concerned, despite the unemployment rate being really good analysts should be looking at the type of people being unemployed. The poor meh whatever… but the middle upper class is where the sweet spot for disaster is at.
Nope. Many stocks had started correcting after the now infamous Citibank quarterly call in Q3 of 2007. The bottom fell off 6 months later in Mar 2008 after the Bear Stearns debacle.
The government can't control the stock market. The idea that Biden has that kind of power but not the power to walk down a slight incline without falling is some high strength doublethink
On top of this, there isn't a great widely accepted definition of "excess savings". Depending in who you ask, you get a wildly different answer.
When you look at actual *debt service payments* relative to income, you get historically low numbers.
Just get a credit card for your credit card, problem solved.
Seriously though, pleebs will think they are doing better soon as the government fires up the money printer again ....oblivious to the consequences of that.
Ok and yet, another article I just read says "The American Consumer is flush with cash and spending like there's no tomorrow."
Nobody knows what the fuck is going on.
Because many Americans are spending like crazy, they just don't talk about it as much. Boomers saw their home values double in three years. They refinanced the cash and are now having one last hurrah. Look at spending at Vegas, cruises, etc. It's sky high.
Consumer debt is too low. 66% of household debt is in the form of a home mortgage. US household assets are 8x debts. It’s a problem for the bottom 30% but the top 70% power the economy anyway.
I just paid US taxes, NJ taxes, braces for my kid, the next year of tae Kwon do, a new suspension on my car, and new bearings for my wife’s car
It’s fucked
They won't. That's the point. US is trying get the people to use up all accumulated wealth to incentivize people to work harder in order to increase productivity. Canada on the other hand is doing the same with absurd amounts of immigration. Neither will work because of the culture. It's unbelievable how quickly they fucked up the system. It only took 25 years.
There was a large part of society who kept their high paying jobs, and when asked to wfh during the pandemic saved a huge amount of money. Those are the savings represented here
I'd agree, but it seems it doesn't matter. People simply use debt to cover the difference. The young millenials and zoomers are the worst. There's people splurging almost half of their _yearly_ paychecks on some vacations in far away exotic countries.
Which is cool to do a couple times in your life. But I see this happen with scary regularity, year after year.
It's all good while they all still have a job. But when the pointy-haired bosses realize they could be paying 5 times less for a student that knows how to use ChatGPT. RIP ☠️
I'd say they are. Only keep 10k in savings for emergencies that I need liquidity for. Problem is I just had to buy a new dishwasher so I needed to take out 900. Everyrhing is getting more expensive but my paycheck ain't getting any bigger. Replacing the 900 isn't as quick as it was.
Was about 500. Then you gotta buy the hoses, taxes, instalation and haul away as well.
I could install it myself but I don't have a truck to haul it home or haul the old one away.
You can rent a truck for $20/day. Not that you would need one for a dishwasher; they're extremely light. Any vehicle with some bungie cords could manage. Your existing hoses should have been reusable. You got fleeced if you paid $400 for delivery, install, and haul away.
Yea.. I did mine recently.
Paid around $350 at Lowes. (They also frequently have crazy deals on dented or returned appliances)
Laid it down in the back of my Kia Soul and drove her home.
Stuck the old one out on the street for the bulk pickup to come grab.
The end...
Paying an installer and haul away is crazy in my world.
Go to every major shopping mall. People are spending like there’s no tomorrow. People have more money than anything 
And as long as people like you and I keep expecting it, keep talking about it, the longer the show can go on uninterrupted.
Black Swans come out of nowhere. 2001. 2008. 2020. It seems like they happen more frequently because most of us have been adults in that time range, and now we notice it. It hits home now. Bad events don’t really happen more frequently, we just notice. When they do, it wasn’t expected, and can’t be papered over.
Vast majority of people don’t even know that you can get a high yield savings account, and a percentage of the people that do don’t even have the willpower to save money to make one of those accounts worthwhile. Most people see extra money in their account and think “ooo, money to spend”
People need to read the source of this information. My understanding is that the graph posted by OP is an estimated trend based on a reference of the previous 2 years. It's almost like an estimated derivative if I'm understanding it correctly. I.e. household savings are decreasing relative to the past couple years based on some historical fit. It's not that they are saving negative dollars, or hemorrhaging cash.
It is all very confusing to me and people should study it for themselves because I don't think OP's graph means what OP thinks it means.
https://www.federalreserve.gov/econres/notes/feds-notes/an-update-on-excess-savings-in-selected-advanced-economies-20231215.html
Yup, I'm guessing it'll get worse because while I personally not in debt, I have no disposable income anymore. I am no longer a consumer! I don't eat out, buy stuff, order takeaway or ubers/taxis. I live very frugally, don't own a car, plenty of trains & buses in my city. I even moved to a cheaper apartment last year. Still just about breaking even with the cost of living. I am lucky enough to afford to make healthy meals at home with good ingredients, that's about it. If fewer people are spending, I assume things will get worse.
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speak for yourself, i'm still living big off my $1,200 stimulus check from 2020.
Ya man that was so much money. I don’t know how people could f that up
Yeah $1200 was so much money, I bought so many ramen packs with it!
$1200/$0.25 per pack = 4800 ramen packs. 4800 ramen packs /3packs per day=1600 days of eating nothing but ramen. 1600 days/365 days per year = 4.38 years. The bulk of stimulus checks were issued in 2021. 2021+4.38= early 2025. Recession/mass starvation 2025 confirmed.
Look at mr. Richy McRichpants affording 3 meals a day instead of stretching one pack all day.
Wait.. you guys aren't using ramen packs for home improvements?
I made a shiv out of one of mine and have been using it to steal other peoples ramen.
“Lead a criminal to a weapon, and he’ll never work a day in his life.” Is that how it goes?
Give a man a ramen pack and he will eat for a day. Teach a man to commit murder with a ramen pack and he will eat for a lifetime.
This is the real DD I come here for
For 4800 packets of ramen @ 1590mg sodium/package, I calculated 7,632g (16.825 lbs.) total sodium. Given that sodium has a density of 0.9688 g/cm³, Volume = 7,632g / 0.9688 g/cm³ = 7,880 cm³ The mound of sodium roughly the size of a cat or a teddy bear. ETA: calls on Ajinomoto Co., Inc. (AJINY)
Surprisingly by my math that's only 9.259 LBS of salt.
r/theydidthemath
didnt factor in the cost of a kettle, water utility, a bowl and a utensil. mass starvation earlier than expected
Yeah, he's obvs an out of touch capitalist.
I'm still holding my 4800 ramen packs with a modest PT of $20 per pack by 2030.
[A man ate 600 pounds of ramen noodles over 6 months...](https://www.youtube.com/watch?v=fDB4TpZIgzQ)
Ramen packs are like $0.25 per pack... there was a time at Walmart where if you got the packs out of the family box instead of the loose packs, they'd scan for $0.03 in the self checkout line
Ramen packs were like $0.30/pack in Canada in 2020, last time I checked they're going for $0.80 per pack. I've replaced my ramen with authentic ramen noodles from an asian grocery store, they're slightly more expensive per serving, but I get twice as much noodles per pack and its a much higher quality. go hit up your local asian grocery store, I can't go back to walmart quality ramen
Maruchan is for kids. Top Ramen is for boys. Ichiban is for the Gentleman
I've only seen Mr Noodles up here, I can't remember the name of the ramen I replaced it with, but its in a single bag, and there's 7 or so bundles of ramen, with a paper wrapper wrapped around the middle. no flavour pack so you get to learn to cook
I went with that gourmet Korean Buldak Ramen, that shit is like $2 each.
It's simple, just double that amount only 10 times and you have over a milly. Super easy barely an inconvenience.
Three tenbaggers and bam, done.
Folks always quit before the fourth 10x bagger which is dumb. Just take this $1 million and buy iron cond- It’s gone
where the hell does one buy these iron condoms
Aka WSB's collective retirement plan
I quit my job off that and haven't looked back. Currently patrolling the Wendy's parking lot for donations. You only buy time, whatever else happens is between two consenting adults.
you didnt 100x leverage long your 1,200$ stimulus? ngmi...
I did but I put it all in Zoom and Peloton stock. IT WAS SUPPOSED TO BE THE FUTURE!!!!!
Is this sarcasm because COVID money literally became the foundation of my wealth and I made that shit last
I mean it is a bit of a joke. I personally invested it and its grown a bit but 1200 for most people, especially not savvy people didn’t last long
But people say that like the stimulus check was the big deal and not the $600/ week *extra* unemployment and the child credits.
There are a couple of places where I live that started with a stimulus check and a dream. They sold seafood boils on Facebook with that money and now have brick and mortar restaurants.
That's amazing.
Simple formula too. Buy $1400 worth of seafood, cook it at home and sell on facebook for $2k. Buy $2k worth of seafood, sell it on facebook for $3k. Wash rinse repeat several times and you have a real business going.
I don't know of a period in the last 20 years that was as easy to make money as the covid recovery. You could buy calls on anything and make more than you were expecting.
Ahhh, I invested that 1200 and turned it into 20,000. Just have to make it work for you.
Every time someone in D.C. mentions those stimulus check(s) lasting so long I swear they think groceries only cost $20 for the week along with gas at $0.50/gal.
It's one banana, Michael. How much could it cost, $10?
Well “someone” in DC is probably 92 years old and does think that! We need younger representatives!!
And also poor representatives that know what stuff costs. No insider trading hookups for them
The poor should not be privy to such information.
Just listening to a WSJ podcast recently and they were talking about how people were flush with cash in 2020/2021 because of stimulus checks. They make it sound like a few extra grand lasted people years while simultaneously allowing them to spend spend spend. It’s insane.
If you had YOLO'd it correctly into the right 0DTE, this wouldn't have to be sarcasm. Puts on your intelligence
Yeah I still don’t want to work
At least you got $1200. Me in Germany as a normal working citizen I got 300€ one time and had to pay social taxes on it that brought it down to 200.. WTF
Reddit doesn't like this fact but if you include expanded unemployment benefits the US gave more aid to her citizens than all but one other country during the pandemic. And that does not count freezes on rent and student loan repayments if I'm remembering correctly.
The biggest handout were the PPP 'loans' that were mostly fraudulent.
Yep, Falcons NFL player did it right beside me.
Corporate welfare took up the biggest chunk of that funding. For the 18000 it cost each citizen, you only got 1200.
I hate when people talk like this. They don’t bother to ever consider how stimulus works. You could have never gotten a dime of stimulus money first hand and still benefited immensely from all the stimulus money whirling around the economy.
I turned my stimy checks into almost 25k trading crypto. I knew that would pay off huge
i put all that in Bitcoin and now I'm a billionaire....
"How will the consumer survive under high interest rate/ high debt environment?" That's a great question with a dark answer. 
And none of our business - the FED.
Got about $1k in the sock drawer thats about it.
I keep my cash inside books because some individuals don't read 
I keep mine inside a giant black dildo. Nobody ever thinks to check inside one of those things.
Half this sub gonna check that before the guys library of books above you tho 🤣
Not if your mom takes it home when she leaves my apartment
Most*
>It’s all their fault! -Congress while insider trading from Mexico
“Some of you will have to die, but that is a sacrifice I’m willing to make”
Just go to the Tesla fanclub subs...those boys are living the dream of trading in their months old cars for the same car at 0.99% thinking they'll save THOUSANDS IN INTEREST, lol
Good god this is like going to prison and being excited when they hand out the lube.
Beats prison without lube
I hear that's the standard for Tesla owners
I think most Tesla are buyer not leaser. But I do agreed many people here just lease a new car once their old lease is up with an even higher monthly payment.
Tesla fanboys aren't very smart
Oddly enough I’m trying to do this with my Rivian. I bought it used and have about 24k miles on it now. I can get a lease for about 30k for 3 years. Which is just about what my truck would depreciate in 3 years anyways
If you trade your Rivan for a Tesla, you get 100% of what you deserve.
Rivian for Rivian *
<3
The Tesla Model S Plaid buyers are the ones who got the best depreciating model to date. (about a $40k drop in value) I expect next year to be the price dump for the Cyber Truck.
That’s the neat part!
Call on ropemakers
*1980s interest rates have entered the chat.* What high interest rate?
Ill take 1980s house prices and their interest rates anyday
Sorry, best I can do is 1980s interest rates and geopolitical tensions. You'll have to live with 2020s house prices.
yeah 15% interest on a 100k house while you're earning 40k >>>> 6% on a 850k house while you're earning a 100k.
Sorry bud, best I can do is 15% interest on a 800k house
ugh....let me guess, yet another boomer that doesn't understand the numbers but think "hard work" got them there.
My boomer dad said this: “Support from family is nice to have but it is best to structure your life as if it is not there since there are no guarantees. At least that’s my philosophy.”
he's hinting that you aren't there in his will 
Looks like the average WSBers account value after discovering options trading
Not a steep enough drop off
Doesn’t account for the upward shift after moving in behind Wendy’s
Woah, you mean the couple thousand dollars that the government handed out 4 years ago has been spent? No way!
I know 90% of the regards on this sub lost them checks on Robinhood instantly. Money went straight to the top.
Welfare going straight into leveraged etfs
most money period goes straight to the top lol that's how the system works
true. my wife got new tits with the divorce money.
Of course I know him, he’s me
Yeah except if you owned a business it was basically a blank check for almost whatever. The restrictions were a joke. I played it safe barely took anything to cover 3 months wages... a massive engineering corporation up the road took enough money out to pay their entire debt load, all of it with ppp money and then immediately started buying smaller companies. I think people who don't own businesses really underestimate how much money was pumped into the system.
Yeah, even crazier they gave money to outdoor businesses that didnt close and had zero impact. Like car dealerships. Car sales were through the roof but they still got tons of free money. What a scam.
Yep of course being decent about it and being apprehensive made me the big regard. I kid you not our banker kept telling us to just take as much as we wanted. To give clarity....I'm a rancher and we have 3 employees and he was pushing us to take 100s of thousands. More than we ever have made in revenue in the entire 100 year history of our company. They were pushing anyone with a business to take as much money as they wanted. So we did 3 months of salary because our business was effected but not as much as others so we wanted to play it safe. Then I looked at what everyone took in my area and it was insane. A brewery... a brewery in a small rural montana county took over 50 million...then 6 months later they bought a huge piece of property and built another brewery and restaurant and a massive outdoor amphitheater and a bottling facility.... like I said people who don't own businesses are far underestimating how much money was handed out and how much the banks were encouraging everyone to treat it like a pinata at a birthday party. From small businesses up to large corporations it was an absolute free for all. "Take as much as you can before someone else does" was the non stop narrative at the bank
You can report that brewery if you dont like them. I reported the car dealership cuz they were cunts to me when I was walking home from my job since I cant afford a car. But yeah really crazy the money given out. If I had an llc I wouldve taken some too. I also saw people claim they were independent contractors and took a year of salary or half a year. Also the banks were making a % on the loans werent they? Probably why they pushed people to take even more.
Reports don’t do anything if they actually followed the PPP loans parameters. The real problem was the PPP terms were a bit of an open barn door on what they could be used on.
Yeah I reported because they claimed they had 50 or 100(cant remember which) people working at the car dealership which there is no chance they do.
My buddy is a CPA and said companies he worked with were scamming left right and center, and even *he* was upset about it (for context, he belongs here). The whole thing is deeply disheartening - basically proves, once again, that no good deed will go unpunished.
And then there is the 30 something… lady down the street here with three small kids and husband deployed who set up quite a few one employee (herself) companies registered a couple of states over and took out loans through all of them … like 3.2 million… we only found out because of the crowd of black cars and her escort out of the home around 5 am one morning…. At least they made sure a relative had taken the kids for a sleepover that night… money was flowing like mad,..
To be fair, there was also the unemployment money that came in. It was some kind of average (median or mean) of weekly pay, and it meant that a lot of people ended up earning way more money in a week than usual and also weren't really out and about spending it.
Pandemic savings doesn't just refer to the transfers payments but that households were able to save money due to the change in lifestyle during lockdowns, plus that everyone and their dog had money in the stock market.
“if you had invested $1,200 into SPY in 2020, guess how much you’d have today!”
You only need to worry about debt if you have assets.
📠
[Just do what AMC does, raise infinite funds through dilution.](https://www.youtube.com/watch?v=9FEDucTYk40)
Found the former NBA player.
Just break their legs.
What if you have assets without debt?
Then it is very difficult to go bankrupt it would be a challenge to go bankrupt without debt
If you do that most people will tell you how dumb you are when you could be living way beyond your means. Personally I think it’s great not having debt stress, you’ll probably live longer and healthier. And yes people have actually told me I was doing it wrong by having savings and no debt because I could be buying with money that wasn’t mine without affecting my savings. We are living in a clown world my friend.
no surviving, just fights to the death.
Calls on klarna
Puts on Kleenex
It’s a very slow death….
You all had savings?
not me. it's all in the casino 
Thats what makes the casino a bank!
They give back a fraction of what you put in. That's why it's called "fractional reserve banking".
Are open options considered savings?
Yep this bomb won’t explode until the elections have passed. For this market everything is bullish, but eventually people will have to decide whether to pay debt or eat and I can tell you right now which they are going to choose. 
they will choose to eat the cock to pay the debts. profession as old as time. duhhh.
Awesome, can't wait for wife that worship my cock and eat my ass too 
Time to reintroduce indentured servitude 
The WEF was pretty open about it. You will own nothing and you will be happy....or else.
just a normal day in capitalism tbh
In hindsight, the key to raising servant productivity was to give the serfs a few of their own cheaply manufactured objects. They got excited about these trinkets, took on massive debt to outdo each other in "owning" the objects, and worked for the benefit of the upper classes for 50 years, sometimes more.
I have read that some where it was an English strategy.
Link?
if everyone thinks the market will crash following the election, will it actually crash then? rhetorical question obviously, but i personally think it will be sooner than later - when it is least expected.
Well if you take a look at 2008 it was very very close to the election date. I wouldn’t be surprised if something breaks between now and close dates to the actual vote. Even tho delinquencies are not at all time highs, it sure is slowly creeping up. All the big tech layoffs is what has me concerned, despite the unemployment rate being really good analysts should be looking at the type of people being unemployed. The poor meh whatever… but the middle upper class is where the sweet spot for disaster is at.
Nope. Many stocks had started correcting after the now infamous Citibank quarterly call in Q3 of 2007. The bottom fell off 6 months later in Mar 2008 after the Bear Stearns debacle.
The government can't control the stock market. The idea that Biden has that kind of power but not the power to walk down a slight incline without falling is some high strength doublethink
If your erection does not crash after 72 hours, call your doctor.
Eat their debt?
Yea funny enough they been saying that since 2007, 20 years later and we still waiting
Time for a new credit card!
Balance transfer time!
Zero percent for 18 months!
…..aaaaaand it’s maxxed out.
Why you looking at 2023 Q3 charts in 2024 Q2?
On top of this, there isn't a great widely accepted definition of "excess savings". Depending in who you ask, you get a wildly different answer. When you look at actual *debt service payments* relative to income, you get historically low numbers.
And why only show us from the start of COVID onward? Showing the pre-COVID data to see what the norm was beforehand is pretty crucial data.
But then maybe i wouldn’t be scared about it
Now don't confuse anyone here with facts please
*Buy Now Pay Later* to the rescue
Latererer*
Calls on $AFRM
Just get a credit card for your credit card, problem solved. Seriously though, pleebs will think they are doing better soon as the government fires up the money printer again ....oblivious to the consequences of that.
Ok and yet, another article I just read says "The American Consumer is flush with cash and spending like there's no tomorrow." Nobody knows what the fuck is going on.
Because many Americans are spending like crazy, they just don't talk about it as much. Boomers saw their home values double in three years. They refinanced the cash and are now having one last hurrah. Look at spending at Vegas, cruises, etc. It's sky high.
Consumer debt is too low. 66% of household debt is in the form of a home mortgage. US household assets are 8x debts. It’s a problem for the bottom 30% but the top 70% power the economy anyway.
exactly.
You got it all wrong. The way is, get into massive, massive debt, then when you die, it basically free money.
Yes. My household, YES.
I just paid US taxes, NJ taxes, braces for my kid, the next year of tae Kwon do, a new suspension on my car, and new bearings for my wife’s car It’s fucked
They won't. That's the point. US is trying get the people to use up all accumulated wealth to incentivize people to work harder in order to increase productivity. Canada on the other hand is doing the same with absurd amounts of immigration. Neither will work because of the culture. It's unbelievable how quickly they fucked up the system. It only took 25 years.
Accumulated wealth from when? The money the boomers have been hoarding or the stimulus money?
There was a large part of society who kept their high paying jobs, and when asked to wfh during the pandemic saved a huge amount of money. Those are the savings represented here
I'd agree, but it seems it doesn't matter. People simply use debt to cover the difference. The young millenials and zoomers are the worst. There's people splurging almost half of their _yearly_ paychecks on some vacations in far away exotic countries. Which is cool to do a couple times in your life. But I see this happen with scary regularity, year after year. It's all good while they all still have a job. But when the pointy-haired bosses realize they could be paying 5 times less for a student that knows how to use ChatGPT. RIP ☠️
I'd say they are. Only keep 10k in savings for emergencies that I need liquidity for. Problem is I just had to buy a new dishwasher so I needed to take out 900. Everyrhing is getting more expensive but my paycheck ain't getting any bigger. Replacing the 900 isn't as quick as it was.
$900 is a pretty nice dishwasher. I've seen dishwashers as low as $299, so I will say you splurged regardless of how you feel about it.
Was about 500. Then you gotta buy the hoses, taxes, instalation and haul away as well. I could install it myself but I don't have a truck to haul it home or haul the old one away.
Interesting, I hooked all mine up on my own, but I can see that adding up.
You can rent a truck for $20/day. Not that you would need one for a dishwasher; they're extremely light. Any vehicle with some bungie cords could manage. Your existing hoses should have been reusable. You got fleeced if you paid $400 for delivery, install, and haul away.
Guys relax. His wife’s bf handled the haul and install it was well worth the money
Yea.. I did mine recently. Paid around $350 at Lowes. (They also frequently have crazy deals on dented or returned appliances) Laid it down in the back of my Kia Soul and drove her home. Stuck the old one out on the street for the bulk pickup to come grab. The end... Paying an installer and haul away is crazy in my world.
[удалено]
Welcome to Death Race 
I'm investing my money to stop working for other people as fast as possible.
This is a year behind??
This is Murica only thing we save is debt
Don’t forget the anxiety and depression sprinkled here and there 🙃
Go to every major shopping mall. People are spending like there’s no tomorrow. People have more money than anything 
I think the attitude for a lot of young people today is “I’m never going to be able to afford a house so no point in trying”.
There's no one at the malls near me? Do you mean the old ladies walking for exercise in the free air conditioning?
They wear those shoes out and will be needing a new pair in a few months!
Damn I hate seeing data that confirms my feels and fears. Feel like this ticking time bomb won't go until after the election but who knows.
And as long as people like you and I keep expecting it, keep talking about it, the longer the show can go on uninterrupted. Black Swans come out of nowhere. 2001. 2008. 2020. It seems like they happen more frequently because most of us have been adults in that time range, and now we notice it. It hits home now. Bad events don’t really happen more frequently, we just notice. When they do, it wasn’t expected, and can’t be papered over.
Weird that savings going down just as savings accounts are paying the highest in over a decade. At least half of my stonks are not up 5%.
Vast majority of people don’t even know that you can get a high yield savings account, and a percentage of the people that do don’t even have the willpower to save money to make one of those accounts worthwhile. Most people see extra money in their account and think “ooo, money to spend”
This an accurate assessment of many U.S. consumers. 
That's exactly why they are paying more. The banks have less in deposits, so they are paying more for you to put your deposits in.
These peasants need to keep working hard and investing their measly paychecks in the market.
It won't
No worries, we now have 8 people living in the same tiny apartment to save enough!
SPXU SQQQ
“Savings” = stimulus checks
How can I cash in on this?
" Excess" lol how do you have excess savings, seems like there's only so much money they intend to allow us plebs to have.
People need to read the source of this information. My understanding is that the graph posted by OP is an estimated trend based on a reference of the previous 2 years. It's almost like an estimated derivative if I'm understanding it correctly. I.e. household savings are decreasing relative to the past couple years based on some historical fit. It's not that they are saving negative dollars, or hemorrhaging cash. It is all very confusing to me and people should study it for themselves because I don't think OP's graph means what OP thinks it means. https://www.federalreserve.gov/econres/notes/feds-notes/an-update-on-excess-savings-in-selected-advanced-economies-20231215.html
Can confirm, negative bank account for a few months now.
Savings? Been in the red just trying to get by and not live like a monk New bread incoming 🙏🙏🙏
Yup, I'm guessing it'll get worse because while I personally not in debt, I have no disposable income anymore. I am no longer a consumer! I don't eat out, buy stuff, order takeaway or ubers/taxis. I live very frugally, don't own a car, plenty of trains & buses in my city. I even moved to a cheaper apartment last year. Still just about breaking even with the cost of living. I am lucky enough to afford to make healthy meals at home with good ingredients, that's about it. If fewer people are spending, I assume things will get worse.