>There is a trope that most Americans work ‘paycheck-to-paycheck’. They don’t. The median American has savings.
Yeah, all is well and fine, nothing to see. Economic anxiety? What, me worry?
Meanwhile:
21% of people have no emergency savings at all
Nearly 2 in 5 (37%) Americans say they couldn’t afford an emergency expense over $400
The median emergency savings for Americans is $600
More than 3 in 5 (62%) Americans say that having dedicated emergency savings is a priority for them; yet 57% say high inflation and price increases have held them back from contributing this year
1 in 4 (25%) people dipped into emergency savings to cover basic living expenses in the past year
>Finally, the narrative (hereafter called the ‘poverty narrative’) often assumes an outdated (and decidedly masculine) vision of a frustrated proletariat of laid off coal miners, quite at odds with the reality of life for most working Americans in the 21st century. The 23-year-old barista serving you coffee at Starbucks, who lives with roommates in a small apartment, who doesn’t have job security, or the ability to pursue her goals in life—she most likely did not vote for Trump.
Yeah, because there's no other kind of struggling working class, squeezed middle class, and whole areas de-industrialized and devastated.
It's just left-leaning young barristas, creatives, and such.
>The theory that growing income would overtake price increases, and inflation would be managed to a ‘soft landing’, has been clearly validated.
"Those people don't know how good they have it! They'd rather believe their own lying pockets and eyes than my figures!"
Yeah, all is well and fine, nothing to see. Economic anxiety? What, me worry?
Meanwhile:
21% of people have no emergency savings at all
Nearly 2 in 5 (37%) Americans say they couldn’t afford an emergency expense over $400
The median emergency savings for Americans is $600
More than 3 in 5 (62%) Americans say that having dedicated emergency savings is a priority for them; yet 57% say high inflation and price increases have held them back from contributing this year
1 in 4 (25%) people dipped into emergency savings to cover basic living expenses in the past year
https://www.empower.com/the-currency/money/over-1-in-5-ameri...
>Finally, the narrative (hereafter called the ‘poverty narrative’) often assumes an outdated (and decidedly masculine) vision of a frustrated proletariat of laid off coal miners, quite at odds with the reality of life for most working Americans in the 21st century. The 23-year-old barista serving you coffee at Starbucks, who lives with roommates in a small apartment, who doesn’t have job security, or the ability to pursue her goals in life—she most likely did not vote for Trump.
Yeah, because there's no other kind of struggling working class, squeezed middle class, and whole areas de-industrialized and devastated.
It's just left-leaning young barristas, creatives, and such.
>The theory that growing income would overtake price increases, and inflation would be managed to a ‘soft landing’, has been clearly validated.
"Those people don't know how good they have it! They'd rather believe their own lying pockets and eyes than my figures!"