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37% of Americans struggle with hunger [1] and 57% of Americans have less than $1000 in savings. [2] Would you be buying stocks if you didn't have enough to eat
by grecy 7y ago
37% of Americans struggle with hunger [1] and 57% of Americans have less than $1000 in savings. [2]
Would you be buying stocks if you didn't have enough to eat?
[1] https://www.feedingamerica.org/hunger-in-america/facts https://www.feedingamerica.org/hunger-in-america/facts
[2] https://finance.yahoo.com/news/58-americans-less-1-000-090000503.html https://finance.yahoo.com/news/58-americans-less-1-000-09000...
EDIT: Apologies, first should be 37 million Americans (NOT 37%)
- AuryGlenz 7y agoIt probably doesn’t apply to those struggling with hunger, but just because people don’t have savings doesn’t mean they don’t have expendable income. It could just as easily mean they prioritized stuff over savings, and I bet that’s the case for most of them.
- sigstoat 7y agohttps://www.cnbc.com/2019/12/12/americans-spend-over-1000-dollars-a-year-on-lotto-tickets.html https://www.cnbc.com/2019/12/12/americans-spend-over-1000-do...
- mlthoughts2018 7y agoThat’s an average per consumer. It’s likely skewed way up by extreme outliers. Need to see median, 75th percentile, 95th percentile to really understand it. The headline seems like deliberately misleading journalism.
- jandrewrogers 7y agoPer the US government, the median American household has more than $12,000 per year in cash to burn after all ordinary expenses. That is a lot of money for savings and/or beer.
- chockablock 7y agoYour link [1] says 37 million Americans, which is 11%, not 37%. (Still a shocking #!)
- creddit 7y agoThe second is a pretty bad survey. I have a relatively sizable net worth but $0 in a savings account. That's because savings accounts have shit yields.