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You're forgetting that many of the people who have those things you describe can only actually 'afford' them in the US because of cheap credit. If they were to
by Qz 15y ago
You're forgetting that many of the people who have those things you describe can only actually 'afford' them in the US because of cheap credit. If they were to sell all those things at the price they bought them, they would still be in debt, and thus are, in fact, poor.
- ctdonath 15y agoCheap credit is a luxury. You're ignoring a host of mitigating factors. If your choice is 850 days of food vs. a TV, and you opt for the TV, you're not poor. (Derived from [1] above.) With over two years of energy literally under your belt, paying off that cheap loan and earning far more, even under adverse conditions, leverages you well outside poverty. "Poor on paper" is unconvincing, given the opportunity for wise choices.