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1) 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-ameri

1) 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-... 2) travel insurance started to deny pandemic claims. Your travel insurance might have covered it now, it won’t cover it by next year. https://www.aarp.org/travel/travel-tips/safety/info-2020/insurance-coronavirus-coverage.html https://www.aarp.org/travel/travel-tips/safety/info-2020/ins... 3) I don’t know how your point contradicts mine. Also it’s 22M unemployed now, not 5M.

theferalrobot 7y ago
1) doesn’t say most Americans and doesn’t even cite the full response (nor does it provide context for the question in the survey). The actual statistic is that when asked if they could cover an unexpected 400$ bill - 40% of Americans in this survey responded that they would sell something to help pay it OR couldn’t pay it. We don’t know how many said they couldn’t and we don’t know why those who said they would sell something said that. Secondly the survey itself admits that it had an, “oversample of individuals with a household income less than $40,000 per year” https://www.federalreserve.gov/publications/files/2017-report-economic-well-being-us-households-201805.pdf https://www.federalreserve.gov/publications/files/2017-repor... The same survey also found: “74 percent of adults said they were either doing okay or living comfortably in 2017“
Jommi 7y ago
Did you read your own link? >Four in 10 adults, if faced with an unexpected expense of $400, would either not be able to cover it or would cover it by selling something or bor- rowing money. So exactly like I said, 40% don't have liquid cash of over 400$ consistently on their bank accounts. That means it's not bound to be an I come problem, but might be a symptom of the ease of debt/credit in modern times.

theferalrobot 7y ago

1) doesn’t say most Americans and doesn’t even cite the full response (nor does it provide context for the question in the survey). The actual statistic is that when asked if they could cover an unexpected 400$ bill - 40% of Americans in this survey responded that they would sell something to help pay it OR couldn’t pay it. We don’t know how many said they couldn’t and we don’t know why those who said they would sell something said that. Secondly the survey itself admits that it had an, “oversample of individuals with a household income less than $40,000 per year” https://www.federalreserve.gov/publications/files/2017-report-economic-well-being-us-households-201805.pdf https://www.federalreserve.gov/publications/files/2017-repor... The same survey also found: “74 percent of adults said they were either doing okay or living comfortably in 2017“

Jommi 7y ago

Did you read your own link? >Four in 10 adults, if faced with an unexpected expense of $400, would either not be able to cover it or would cover it by selling something or bor- rowing money. So exactly like I said, 40% don't have liquid cash of over 400$ consistently on their bank accounts. That means it's not bound to be an I come problem, but might be a symptom of the ease of debt/credit in modern times.