3 ms·
> Let's talk reality here: a large portion of the US can't afford a 400$ expense without going into debt (https://www.cnbc.com/2019/07/20/heres-why-so-many-amer
by foogazi 7y ago
> Let's talk reality here: a large portion of the US can't afford a 400$ expense without going into debt (https://www.cnbc.com/2019/07/20/heres-why-so-many-americans-cant-handle-a-400-unexpected-expense.html https://www.cnbc.com/2019/07/20/heres-why-so-many-americans-...)
That is not true
From TFA they would have to sell something(assets), and probably adjust their spending in the next paycheck
The myth that abled bodied human beings in 2019 America are unable to come up with $400 is ridiculous
- gnosis89 7y agoSelling assets is actually worse than going into debt. I know plenty of people who would not be able to afford paying their bills without going into debt if they had an unexpected 400 dollar charge. The delusion that wealth inequality and massive economic impoverishment is a myth in America is insane. Get out of your bubble. https://www.federalreserve.gov/publications/files/2018-report-economic-well-being-us-households-201905.pdf https://www.federalreserve.gov/publications/files/2018-repor...
- foogazi 7y agoAssets are a resource you hold instead of holding cash It’s things you bought that you can sell to access those $400 not selling those assets and going into debt is a choice
- gnosis89 7y agoFalse. Assets are a resource with economic value that are expected to provide a benefit. If that benefit is worth more than the current cash value, you actually lose more by selling it. You're free to make stupid choices though, like wrongly defining what assets are.