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Posted: 7/21/2010 3:51:54 AM EDT
[#1]
I wonder the same thing. The wait for a table at a nice restaurant isn't any shorter.
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Posted: 7/21/2010 3:52:13 AM EDT
[#2]
There's 'rich' people in every state/country/area. No matter where you are, there will always be people who know how to make money, as there has always been different groups in history.
Maybe you should learn to become one. |
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Posted: 7/21/2010 3:53:10 AM EDT
[#3]
Credit card debt.
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Posted: 7/21/2010 3:54:06 AM EDT
[#4]
Quoted: Credit card debt. This. |
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Posted: 7/21/2010 3:59:49 AM EDT
[#5]
Quoted:
I live in Arkansas, which is not a rich state. FAIL There is alot of money in Arkansas. |
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Posted: 7/21/2010 4:03:46 AM EDT
[#6]
Seriously?
Quoted:
Quoted:
Credit card debt. This. |
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Posted: 7/21/2010 4:05:37 AM EDT
[#7]
Cough...debt...cough
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Posted: 7/21/2010 4:05:42 AM EDT
[#8]
Not everybody is broke.
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Posted: 7/21/2010 4:06:39 AM EDT
[#9]
Quoted: There's 'rich' people in every state/country/area. No matter where you are, there will always be people who know how to make money, as there has always been different groups in history. Maybe you should learn to become one. Where would one sign up for that class? |
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Posted: 7/21/2010 4:07:00 AM EDT
[#10]
Quoted:
Seriously? Quoted:
Quoted:
Credit card debt. This. Yep |
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Posted: 7/21/2010 4:09:59 AM EDT
[#11]
Quoted:
I thought the economy was bad? Anyway, I see people buying new cars left and right, new subdivisions poping up everywhere with homes nicer than I've ever even stepped foot into, etc. I live in Arkansas, which is not a rich state. Credit. It's the American way. |
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Posted: 7/21/2010 4:13:43 AM EDT
[#12]
Quoted:
Quoted:
Seriously? Quoted:
Quoted:
Credit card debt. This. Yep They don't think that they will ever have to pay for any of the shit? Come on? No body can be that stupid. |
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Posted: 7/21/2010 4:13:55 AM EDT
[#13]
Saving and living within a budget.
Credit isn't a bad thing as long as you're not over-extending yourself on it. Our credit cards are paid in full every month; we have one mortgage, one student loan, and until today, one car loan that's well under 1:1 LTV. Buying a new car today, actually. And yes, we're financing it, and while it means we may not eat out quite as much, that's certainly not a bad thing (just ask my waistline). My wife and I both work full-time. I work a significant amount of overtime annually so I can have some extra funding for my hobbies. |
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Posted: 7/21/2010 4:14:09 AM EDT
[#14]
Quoted:
Not everybody is broke maxed out on their credit cards. |
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Posted: 7/21/2010 4:16:12 AM EDT
[#15]
i was talking to a buddy of mine that is a contractor. he told me much of the construction of new homes right now was planned construction that stopped wehn the credit crunch hit. Even though most is not sold and has little hope of selling the credit was finally released to continue the construction so they went back to work.
i suspect this infulx of work put cash back in people pockets and instead of setting some aside for the next coming crunch they went back to spend spend spend. |
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Posted: 7/21/2010 4:16:31 AM EDT
[#16]
Quoted:
Seriously? Quoted:
Quoted:
Credit card debt. This. no, not seriously credit cards are the most despised thing on this site and the root of all evil. if someone has more than you, it's because they're using credit cards. while credit cards have been the root of many of our nation's financial woes. people aren't buying homes and new cars with them. banks are cautious to lend still, so one can assume that folks being approved for home or auto loans are fiscally responsible and pay their bills. the reality is that with the current state of the economy big ticket items like cars/homes aren't in high demand, so the prices have to drop. people that couldn't afford a $300k house are finding that same house is $225k and within their budget. same goes for vehicles, people are getting more car for less money as dealers have to shrink their profit margins to move inventory. restaurants aren't immune either, most of the restaurants in my area have been offering price fixed menus, drink, salad, entree, dessert for $15-20. making it more accessible for people to go out to eat where a few years ago the same meal would run $30. when your business is in jeopardy of closing, it's better to make a small profit by lowering the prices, than make no profit keeping prices the same, not to mention you are expanding your customer base for when the economy does recover. i know this is GD and logic is optional |
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Posted: 7/21/2010 4:16:53 AM EDT
[#17]
Not everyone uses CCs to buy things, some people just have money. Unless you see someone physically using a CC then don't assume they're using it.
Remember the ammoman thread about him owning around 1m worth of cars? |
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Posted: 7/21/2010 4:19:13 AM EDT
[#18]
Quoted:
Quoted:
Seriously? Quoted:
Quoted:
Credit card debt. This. Yep I dont know if thats the case. Credit has been tightend up a lot the last few years, it may be the case to some extent but not what it was just a few years ago. I know I am not going to be buying anything on credit for awhile, just paid off my truck a couple weeks ago and no monthly payment is going to be nice. |
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Posted: 7/21/2010 4:19:32 AM EDT
[#19]
Quoted:
Quoted:
I live in Arkansas, which is not a rich state. FAIL There is alot of money in Arkansas. If so, its in few peoples hands. |
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Posted: 7/21/2010 4:21:09 AM EDT
[#20]
We are not all broke
Personally we (my wife and I ) do not waste our money on silly things so we have more to spend on nice things. |
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Posted: 7/21/2010 4:21:15 AM EDT
[#21]
Quoted:
I thought the economy was bad? Smart people take that opportunity to make the move on a new car or house while prices and interest rates are low. |
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Posted: 7/21/2010 4:21:31 AM EDT
[#22]
Quoted:
Quoted:
Seriously? Quoted:
Quoted:
Credit card debt. This. no, not seriously credit cards are the most despised thing on this site and the root of all evil. if someone has more than you, it's because they're using credit cards. while credit cards have been the root of many of our nation's financial woes. people aren't buying homes and new cars with them. banks are cautious to lend still, so one can assume that folks being approved for home or auto loans are fiscally responsible and pay their bills. the reality is that with the current state of the economy big ticket items like cars/homes aren't in high demand, so the prices have to drop. people that couldn't afford a $300k house are finding that same house is $225k and within their budget. same goes for vehicles, people are getting more car for less money as dealers have to shrink their profit margins to move inventory. restaurants aren't immune either, most of the restaurants in my area have been offering price fixed menus, drink, salad, entree, dessert for $15-20. making it more accessible for people to go out to eat where a few years ago the same meal would run $30. when your business is in jeopardy of closing, it's better to make a small profit by lowering the prices, than make no profit keeping prices the same, not to mention you are expanding your customer base for when the economy does recover. i know this is GD and logic is optional Exactly, though this will not be popular here. |
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Posted: 7/21/2010 4:22:36 AM EDT
[#23]
Some of that number, possibly a large percentage consists of people who are not paying their mortgage. Oh, they're still living in that McMansion, but are either going through the various stages of the foreclosure process or are fortunate enough to have their mortgage financed by a bank playing the "Extend & Pretend" game, or other bullshit Obamanomics smoke-n-mirrors program. The homeowners money that should be going to Chase Bank or Bank of America (rendering the homeowner broke and unable to afford all of life's luxuries), is now in the consumers pocket to spend. It will end someday. |
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Posted: 7/21/2010 4:22:51 AM EDT
[#24]
Quoted: Quoted: There's 'rich' people in every state/country/area. No matter where you are, there will always be people who know how to make money, as there has always been different groups in history. Maybe you should learn to become one. Where would one sign up for that class? It's not really something they teach in school. It is called RISK. I decided to take a risk and start my own business nine years ago. I put a lot on the line as far as potential for loss and have been able to reap the rewards and put away funds to cover the lean periods. You can make money working for someone else, but I guarantee he's gonna make more. The biggest key is to not spend more than you take in. It's not easy but the result is having more in the bank at the end of the billing cycle. Of course, Zero and his minions are about to make it even harder on small business owners like me, so time will tell. The fact remains that no matter what the economic situation, there are people who will find a way to use that situation to their economic betterment. My father (who I learned most of my business lessons from) calls it "finding the niche". You look for what is in demand at the time and figure out how to capitalize on it. |
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Posted: 7/21/2010 4:22:56 AM EDT
[#25]
I try and put at least $400 a week in savings, and have a good amount saved up, but still can't keep up with the increasing cost of stuff. I'm not brave enough to spend the money that I see a lot of people spending.
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Posted: 7/21/2010 4:24:51 AM EDT
[#26]
look at it this way:
at the personal level, the unemployment rate is either 0% or 100% |
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Posted: 7/21/2010 4:25:55 AM EDT
[#27]
My income has increased in the last 2 years. Not gone down.
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Posted: 7/21/2010 4:25:58 AM EDT
[#28]
Fuck, I'm selling a lot of my nice stuff.... Had a short unemployment spell late last year, and had to take a lower paying job. I love my new job, but had to cut corners. I did use my tax return to buy a couch and a new TV, but that's it... I have to keep a tight wallet and pay off debt.
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Posted: 7/21/2010 4:29:33 AM EDT
[#29]
Our credit card debt is still ridiculously high IMHO.
http://www.federalreserve.gov/releases/g19/Current/ |
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Posted: 7/21/2010 4:29:59 AM EDT
[#30]
Quoted:
Quoted:
Quoted:
Seriously? Quoted:
Quoted:
Credit card debt. This. Yep They don't think that they will ever have to pay for any of the shit? Come on? No body can be that stupid. 
Come one. Look at the way they are running the country. Adding Trillions of dollars to our deficit. |
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Posted: 7/21/2010 4:31:45 AM EDT
[#31]
Quoted:
Quoted:
I live in Arkansas, which is not a rich state. FAIL There is alot of money in Arkansas. Arkansas has the 48th-ranked median household income in the US. |
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Posted: 7/21/2010 4:31:59 AM EDT
[#32]
Some people are still doing fine. I've got three jobs, one fulltime, one parttime that'll be going to full time at the beginning of the month, and one parttime, although I don't get a lot of hours there. Between the three, I'm set to make more next month than I ever have before. It still isn't going to be an incredible amount of money but it's enough to allow us to handle our debt on a reasonable schedule and still have a pretty good bit of money to spend or save as we see fit.
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Posted: 7/21/2010 4:35:16 AM EDT
[#33]
Quoted:
Quoted:
There's 'rich' people in every state/country/area. No matter where you are, there will always be people who know how to make money, as there has always been different groups in history. Maybe you should learn to become one. Where would one sign up for that class? Books, university, mentors, common sense, ect... Shockergd is correct, wealthy is a mentality. There are some people who know how to put aside their personal hangups and stay focused on the mission. It's a rare character trait but those who have it always seem to do well. You could take everything from a self made millionaire and odds are that he'd be back on top in only a few years. It's difficult to explain to people because it requires people to put their pride aside. The best example on GD are all the threads of people bitching about their boss, customers, or people who low ball on EE. If they were smart, they would use all of those affronts to their ego as an opportunity to make a sale, be the hero, or earn a promotion. |
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Posted: 7/21/2010 4:39:39 AM EDT
[#34]
They are working.
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Posted: 7/21/2010 4:42:38 AM EDT
[#35]
I will say this, prior to feb 09, I used to burn down some credit and credit cards. Went thru divorce, and chopped em all up, sold off anything I could, and leaned out. Now if I dont have the cash, it doesnt happen. And I mean no nothing, no food, gas, toys, clothes, anything. If its not cash, I dont do it.
Amazing how nice it feels to just "own" things, and be done - no great dread of 30 days forward. Also, you realize much more what 100, 1000, or whatever truly looks like when it is in green leaving your wallet. |
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Posted: 7/21/2010 4:44:55 AM EDT
[#36]
Quoted:
There's 'rich' people in every state/country/area. No matter where you are, there will always be people who know how to make money, as there has always been different groups in history. Maybe you should learn to become one. THE Poor will always be with you....as will the rich. my brother has a knack at making a buck, I have a knack for cooking..guess who has more wealth... 
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Posted: 7/21/2010 4:49:49 AM EDT
[#37]
I'll tell you something I've learned in my brief 41 years:
People have exactly the life they believe they deserve. You can write that shit down. |
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Posted: 7/21/2010 4:53:08 AM EDT
[#38]
Quoted:
Not everybody is broke. Nor using their credit cards, as several have said. I gave back my last raise in order to keep some subordinates from getting laid off (as did my immediate boss), but other than that I've felt no personal impact to this downward cycle. I'm still saving and investing and spending with almost no change to my habits- which were sound beforehand. I worked hard to get where I am and have the benefits of seeing that now. |
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Posted: 7/21/2010 4:53:14 AM EDT
[#39]
Obama is making certain folks quite rich.
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Posted: 7/21/2010 4:54:33 AM EDT
[#40]
Quoted:
Seriously? Quoted:
Quoted:
Credit card debt. This. Yup. Always has been. How else do people run up those huge credit card debts? Pretending to be more well off than they really are. |
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Posted: 7/21/2010 4:57:08 AM EDT
[#41]
Quoted:
Quoted:
Credit card debt. This. Or...................busting ass 15 hours a day. |
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Posted: 7/21/2010 4:57:26 AM EDT
[#42]
It's all tied to the finacial bailout .On one hand banks or being forced to make loans again while at the same time foreclosing on over a million homes this year.
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Posted: 7/21/2010 4:59:39 AM EDT
[#43]
its called savings.
the best time to buy anything is now. |
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Posted: 7/21/2010 5:02:42 AM EDT
[#44]
Quoted:
I'll tell you something I've learned in my brief 41 years: People have exactly the life they believe they deserve. You can write that shit down. Bullshit!!! I deserve WAY more strippers in my life 
TXL |
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Posted: 7/21/2010 5:08:12 AM EDT
[#45]
It is cheap to be rich now. If you have money and want a new bigger home you get to pick the best contractors at 80% of what it would have cost 5 years ago. Harleys go for way less than list now. Porsches and Mercedes the same thing is going on. Vacations in the trendy spots are half price.
If you went into the depression with cash you came out loaded. Assets are on sale. Buy a closed down factory for 3 cents on the dollar and when the turnaround comes you will make a killing. |
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Posted: 7/21/2010 5:15:49 AM EDT
[#46]
Quoted: Quoted: There's 'rich' people in every state/country/area. No matter where you are, there will always be people who know how to make money, as there has always been different groups in history. Maybe you should learn to become one. Where would one sign up for that class? For $199.99 I'll send you an informational packet detailing everything you need to know to make money fast! |
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Posted: 7/21/2010 5:18:57 AM EDT
[#47]
Quoted:
Quoted:
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Credit card debt. This. Or...................busting ass 15 hours a day. Yeah, lots of people like to point to credit cards and excessive debt like that's the only way someone can get nice things. That may be true if you work 4 hours a day on the morning shift at McDonalds but it isn't true for everyone. |
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Posted: 7/21/2010 5:20:51 AM EDT
[#48]
Quoted:
its called savings. the best time to buy anything is now. How? Maybe its just me, but haven't things gotten more expensive? |
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Posted: 7/21/2010 5:21:18 AM EDT
[#49]
Quoted: I thought the economy was bad? Anyway, I see people buying new cars left and right, new subdivisions poping up everywhere with homes nicer than I've ever even stepped foot into, etc. I live in Arkansas, which is not a rich state. Personally, I work. |
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Posted: 7/21/2010 5:28:08 AM EDT
[#50]
Quoted:
Quoted:
I'll tell you something I've learned in my brief 41 years: People have exactly the life they believe they deserve. You can write that shit down. Bullshit!!! I deserve WAY more strippers in my life
TXL and it's actually illegal for the beer truck to deliver right to my door 
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