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Nearly Half Of America Lives Paycheck-To-Paycheck

Tyler Durden's picture


While stocks are still near record highs and the inventory-stuffed picture of economic growth for the US ticks up to its fastest pace in 2 years, Time reports that a study (below) by the Corporation for Enterprise Development (CFED) shows nearly half of Americans are living in a state of “persistent economic insecurity,” that makes it "difficult to look beyond immediate needs and plan for a more secure future." In other words, too many Americans are living paycheck to paycheck... but their findings get worse.

As Time notes,

The CFED calls these folks “liquid asset poor,” and its report finds that 44% of Americans are living with less than $5,887 in savings for a family of four.


The plight of these folks is compounded by the fact that the recession ravaged many Americans’ credit scores to the point that now 56% percent of us have subprime credit.



That means that if emergencies arise, many Americans are forced to resort to high-interest debt from credit cards or payday loans.

And this financial insecurity isn’t just affected the lower classes. According to the CFED, one-quarter of middle-class households also fall into the category of “liquid asset poor.”

Geographically, most of the economically insecure are clustered in the South and West, with Georgia, Mississippi, Alabama, Nevada, and Arkansas being the states with the highest percentage of financially insecure.



Full study below:

2014 Scorecard Report


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Sat, 02/01/2014 - 14:28 | 4391515 atomp
atomp's picture

and another nearly half doesn't even get a paycheck!

Sat, 02/01/2014 - 14:38 | 4391535 666
666's picture

What's a paycheck?

Sat, 02/01/2014 - 14:49 | 4391552 onewayticket2
onewayticket2's picture

this is the strategy....dependency equals (dependable) votes.  increase dependency and you increase your votes.  get to 51% and you have yourself a monopoly on election results. 

Sat, 02/01/2014 - 15:10 | 4391584 johnQpublic
johnQpublic's picture


fixed the problem already donchaknow

Sat, 02/01/2014 - 15:21 | 4391600 James_Cole
James_Cole's picture

69% in MS? Wow.. No wonder payday loans do so well. 

Sat, 02/01/2014 - 15:33 | 4391628 Caviar Emptor
Caviar Emptor's picture

Biflation is eating away at buying power and it's picking up speed. Released this week: income growth 0%, unit labor costs up. How's that for state of the union?

Sat, 02/01/2014 - 16:21 | 4391696 TruthInSunshine
TruthInSunshine's picture

Take away credit cards and the United States would suffer an instantaneous Great Depression II.

Notice that I didn't even mention the 55% of the population that receives direct government transfer payments (most of which are funded via the government borrowing money to pay for, as in deficit spending, as in increasing the national debt), whether Social Security, SNAP/EBT, Medicare, Medicaid, Unemployment Insurance Payments, Social Security Disability Insurance, Aid to Families With Dependent Children, Utilities Assistance, etc.

Notice that I didn't mention the ARMY of 22,000,000 federal, state and local unit of government "employees," (or 1 in 6.5 Americans deemed officially "employed" - that is 1 out of every 6.5 Americans with a job working off the taxpayer teat) - not including military personnel -mainly unionized, who do the work that probably 12,000,000 could do at less compensation if government was nearly as efficient as the private sector.

Just taking away the credit cards would do it.

Sat, 02/01/2014 - 16:56 | 4391768 greatbeard
greatbeard's picture

>> increasing the national debt), whether Social Security,

So tell me, how much has social security added to the deficit?  I see you made no mention of the military.  Do you have any idea how much of the deficit is a direct result of military spending?  You might want to check around for a new propaganda source.

Sat, 02/01/2014 - 17:00 | 4391774 TruthInSunshine
TruthInSunshine's picture

Don't forget that words in parentheses count:

"(MOST of which are funded via the government borrowing money to pay for, as in deficit spending, as in increasing the national debt)..."

Sat, 02/01/2014 - 19:32 | 4392146 boogerbently
boogerbently's picture

1) So if they have nothing saved AND we reduce/remove SocSec ????

2) Earnings level directly corresponds to education level.

3) Eligible women outnumber eligible men 2:1 !

Sat, 02/01/2014 - 23:43 | 4392771 PT
PT's picture

Only "nearly half"?

Oh, that's right, the other half doesn't get a pay cheque. 

Sat, 02/01/2014 - 16:55 | 4391770 Colonel Walter ...
Colonel Walter E Kurtz's picture

Do not forget all those under funded government pension plans we are all on the hook for!

Sat, 02/01/2014 - 17:44 | 4391858 e2thex
e2thex's picture



Are you saying then that half of America does not own expensive cell phones?


Sat, 02/01/2014 - 19:35 | 4392150 boogerbently
boogerbently's picture

Sure they do, they're "free" !

Sun, 02/02/2014 - 01:08 | 4392921 PT
PT's picture

e2thex:  I'd like to say that is a fair comment.  But if a boss is looking for a worker and I'm not at home to take the call, I'm not sure he'd wait for me instead of just ringing number 2 on his list.  This is the only reason I own a cell phone, and is the reason I do not blame others for having cell phones.  Apart from that, yeah, I do understand that is no excuse for buying the most expensive phone on the most expensive plan.

Even welfare mommas wanna "keep up with the Jones's".  And if the latest fad is the latest phone then so be it.  In fact, the urge to "keep up with the Jones's" is the main reason that I don't care about welfare bums.  The urge to keep up with the Jones's should be enough to get all of them off their bums and working ... if the work is available of course, and if the pay-off is worth it.

Sun, 02/02/2014 - 00:17 | 4392811 prains
prains's picture

if you like your paycheque you can keep your paycheque......


but first you have to find it

Sun, 02/02/2014 - 01:06 | 4392920 Offthebeach
Offthebeach's picture

Here in Massachusetts, I've heard radio adds for bailout scammers for people who owe two or more payday loans that they've walked out on.
WTF. When does the bloodsucking stop?

Sun, 02/02/2014 - 01:50 | 4392935 PT
PT's picture

Bailout scamming?  Hey!  It's a growth industry!  Probably worth looking into.  Better to be the mediator than the victim ( on either of the three sides - debtor, debtee, taxpayer that bails out both of them ).  I know it is shit and it is unfair etc etc etc, but minimum wages (too low when compared to price of real estate ) and bail-outs are also unfair and no-one complains about that!  Think of it as a way of clawing back some of your losses to both the banksters and the idiots that borrowed too much and bid prices into the unaffordable stratosphere.

Remember, the banks are not rich.  They are in debt to the tune of trillions, and they are trying to put up a facade and pretend nothing is wrong.  At current wage levels, the debt will never be paid back.  Default or hyper-inflation it is.  Stop wishing for what will never be and look at what is.  


Actually, it is probably safer to hide under a rock than try to dance with the devil.

Sat, 02/01/2014 - 23:27 | 4392733 Zero guest
Zero guest's picture

So you are saying that the Kondratieff winter and the Elliot Wave are political stratigies.

Sun, 02/02/2014 - 02:54 | 4393029 Vendetta
Vendetta's picture

Yeah that and having every 'candidate' a clone of political ideology from either party.

Sun, 02/02/2014 - 10:51 | 4393289 Semi-employed W...
Semi-employed White Guy's picture

No, Republicans differ sharply with Democrats on tie color and skirt length preferences.  And I'm not being gender specific either!

Sat, 02/01/2014 - 15:04 | 4391570 Mr Pink
Mr Pink's picture

It's that slip of paper that reads;

Fed withholding

State withholding

Social Security


Health insurance deduction

Medical savings plan contrubution

401k contribution

401k loan payment

myra contribution


Net pay - $8

Sat, 02/01/2014 - 16:44 | 4391748 Peter Pan
Peter Pan's picture

The world is just one missed paycheck away from disaster just about in any country of the world.

Sun, 02/02/2014 - 12:50 | 4393499 jerry_theking_lawler
jerry_theking_lawler's picture

nah, the .fed or IMF would simply print the excess weekly paycheck and loan it back to you....just to keep the ponzi going....that is how it has lasted this long.

Sun, 02/02/2014 - 10:51 | 4393295 Semi-employed W...
Semi-employed White Guy's picture

You 1%er bastard!

Sat, 02/01/2014 - 21:34 | 4392412 A Nanny Moose
A Nanny Moose's picture

It's that source of income, the remainder of which will soon be consumed by health insurance non-coverage.

Sat, 02/01/2014 - 15:03 | 4391573 Smegley Wanxalot
Smegley Wanxalot's picture

Fortunately, these people will now soon be offered MyRA's, and then within a couple months they'll have secure futures because ... the govt says so.

Sat, 02/01/2014 - 17:12 | 4391797 TruthInSunshine
TruthInSunshine's picture

Official Song for MyRA:

MyRApe Me - by Nirvana

Rape me
Rape me, my friend
Rape me
Rape me again

I'm not the only one, Aaah
I'm not the only one, Aaah
I'm not the only one, Aaah
I'm not the only one, Aaah

Hate me
Do it and do it Again
Waste me
Rape me, my friend

I'm not the only one, Aaah
I'm not the only one, Aaah
I'm not the only one, Aaah
I'm not the only one, Aaah

My favorite inside source
I'll kiss your open sores
I Appreciate your concern
You're gonna stink and burn

Rape me
Rape me, my friend
Rape me
Rape me again

Sun, 02/02/2014 - 06:14 | 4393121 Disenchanted
Disenchanted's picture

Speaking of rape and such...What's your favorite Woody Allen movie?

Sat, 02/01/2014 - 17:01 | 4391775 tempo
tempo's picture

Tell the .01% of the population that own 90% of the world's assets to sell most of what they own and stop using the military to increase their wealth.

Sun, 02/02/2014 - 01:53 | 4392988 PT
PT's picture

Tell 'em it's not too smart to wish to double their money when they already own 90% of current money and 100% of the next 100 years' worth of money.

Sat, 02/01/2014 - 14:28 | 4391516 Seasmoke
Seasmoke's picture

not there yet......but sure look like i will joining the group in the next 2 years or so.....i will make sure i say hi to everyone, when i problems for 50 years, but i guess i just all of a sudden became a moron and cant handle my finances

Sat, 02/01/2014 - 14:42 | 4391543 666
666's picture

Do they live from automatic direct deposit dole payment to automatic direct deposit dole payment as well?

Sat, 02/01/2014 - 20:18 | 4392259 boogerbently
boogerbently's picture

I'm thinking the push to raise Minimum Wage will put most bottom feeders over the Welfare eligibility limit.

A sort of "tax" transferring a large portion of welfare payments to businesses.

Sat, 02/01/2014 - 23:34 | 4392751 Zero guest
Zero guest's picture

Low wages have been a subsidy to business so you are right. Something else we can't afford to do anymore.

Sat, 02/01/2014 - 23:42 | 4392764 Zero guest
Zero guest's picture

Low wages have been a subsidy to business so you are right. Something else we can't afford to do anymore.

Sat, 02/01/2014 - 20:28 | 4392285 negative rates
negative rates's picture

No, they die inbetween, that's the way do it when yer, well, unregistered and all.

Sat, 02/01/2014 - 14:58 | 4391564 Jack Burton
Jack Burton's picture

Anyone whose job goes away in the global market place, is of course a lazy no count whose lack of hard work has landed him in poverty. Our nation offers all the advantages for wealth creation, nobody who deserves to earn good money will be left behind. This begs the question why so many have fallen off the wealth creation machine. Jobs used to be plentyful and labor was in demand, to such an extent that workers formed unions that negotiated labor contracts. Now that Clinton's and Bush's globalization has been fully implimented. we have seen jobs for the bottom 50% flee to China 'en mass. We were told by Clinton and Bush that this was good, a sign Americans no longer needed to do manual labor. Our superior American brains would now design and create while Asian hands produced what our fruitful minds thought up. Every American was joyfull. Hurray! No more fucking factory work, like assembly of appliances, engines, tire making, steel making, timber harvesting, saw mill work, etc. etc. Believe you me, I live in an industrial town, a small little town, but with a history of railroads, mining and timber harvester manufacturing. I worked a few of these jobs, and you get dirty, you sometimes get tired and women think you are shit, because you don't go to work in a suit. I left that behind, but still remember it.

I just don't get everyone who loves to talk dirt about the Americans whose jobs were taken away, and they were taken away by American business, the guys in the suits. In my town, where once a thousand industrial jobs existed in the 80's, today the total is no more than 200. So I ask, should those other 800 all become nurses, lawyers and school teachers? I shit you not, I know many who made just that switch if they were still young. We also know all 800 are not needed in those jobs.  We all know the jobs aren't there, and those that are have seen dropping real wages for 3 decades. Assets soar, wages tank, and some people relish calling the bottom 50% parasites. I'm sorry, these are people I was raised with, worked with and know, calling them lazy, in order to make yourself feel like a Big Man, is bullshit.

Seasmoke, I hope you don't go under, but given America's asset driven economy, if you do actual work for a living, your job is always under threat. The money printers are not helping you, and never will. They print to help assets holders get rich, not workers get jobs.

Sat, 02/01/2014 - 15:24 | 4391613 James_Cole
James_Cole's picture

It's the same fucking idiot arguments made, blows my mind.

^ 3mins on, 1994 - same stupid bullshit (slightly adjusted to avoid being anachronistic) argued for today

Sun, 02/02/2014 - 03:16 | 4393052 Vendetta
Vendetta's picture

Yep.  Goldsmith called it like so many others who were all poo poo'd away from the cameras' and microphones  ... and here we are.

Sat, 02/01/2014 - 15:30 | 4391623 DontGive
DontGive's picture

Boils down to a couple things. IMO.

First it's a new era, shits getting mechanized. Folks need to be able to move around to find skilled jobs. That, and you know, like get some skills and shit.

Sat, 02/01/2014 - 17:41 | 4391850 Andre
Andre's picture

The first - moving around - precludes the second - getting skills.

Without job stability you have no educational stability for the kids. You are constantly uprooting and rebuilding, new deposits new this new that, PLUS

The kids can't finish a grade. Sorry, the 6 month contract is up, time to move on. Get there, oh, well, the grades didn't transfer so he'll have to do junior year over... again...and again...

The generational effects of employment instability will be profound and extremely destructive. That's the reason I kind of chuckle about "robots will run the world" stuff. I've seen this, I've been in industrial maintenance. This place is SO fucked.

Case in point, a turret punch press that could not stay up more than  a week and would be down for days. Always blew up an optocoupler. Problem? After 5 months we finally got the schematics and found - in another cabinet - a zener had been installed backwards. And that was with guys who were GOOD. Try that with a "read the manual" monkey - NFW.

Sat, 02/01/2014 - 16:07 | 4391683 Miffed Microbio...
Miffed Microbiologist's picture

This is so true and though, as a professional I don't fear an illegal taking my job as those in other industries, I am under acute pressure by increased mechanization and highly educated foreigners moving into the medical field. I doubt I will last 10 years before I am superfluous and I am relatively well paid. The medical field is not the promise land Obama has portrayed. Jobs are quickly drying up and layoffs are occurring in this supposed healthy field.

When you see the writing on the wall, the first thing you do is look for alternatives. Nothing at this time is remotely close to my pay at present. This is not because I am unwilling to do dirty work. I've worked milking cows getting covered in shit and kicked unconscious. I've bussed tables and worked in fast food. I've worked in a hop kiln for 12 straight hours a day for three weeks during harvest. I know how to work hard but at my age I am no competition for the younger crowd.

Right now I bring home less than 1/2 what I make. I am unable to save for this fast approaching long term "rainy day". Always in the past I have nimbly moved to growth areas in my field to keep myself relevant. There is no where to go now and I am cornered. I have complete empathy for those who are unemployed. I wish I could help them. But, truth be told it is more likely I will join them and I feel absolutely helpless avoiding this fate.


Sat, 02/01/2014 - 18:15 | 4391945 KickIce
KickIce's picture

I've been trying to talk my kid out of the medical field for a number of reasons.  With Obama care I not so sure it'll pay well when considering the time invested and I don't like the moral implications of having an IRS agent playing God.  Then you get into Big Pharm and with the emphasis on pain management rather than healing as well as all the poisons that are go into or bodies with GMOs. On the bright side he's early in so maybe he'll see the light when he interns.  Thus far we have manged to keep debt reasonable and he does have a solid background in chemistry.

Sat, 02/01/2014 - 18:53 | 4392048 Miffed Microbio...
Miffed Microbiologist's picture

I concur. Five years ago there was a critical shortage of microbiologists. The average age was 56 and all internships in our region had stopped. They made a massive drive to the colleges to push students into the field. When I was an intern they paid a $400/mo stipend for a year internship. Today, the same internship is 18 months and costs $20,000! Plus you have to have a BS degree in biology or microbiology. So the investment is extraordinarily high. Starting wage is around $25/hr and maxs out around $55 in my area but it will take a long time to see that number. The amount of mechanization of the lab in the past few years has exploded. More and more things that were done by hand for years are being done by instrumentation. We do not need many to replace us at this rate and I don't see how these young students will pay off their astronomical debt they have been fraudulently coerced to take on.

More and more Drs I work with ( especially hospitalists) are from Africa and India. So I know there are pressures on the physicians as well. I believe in a few years most GPs will be foreign.


Sat, 02/01/2014 - 20:33 | 4392300 lasvegaspersona
lasvegaspersona's picture

In Nevada our legislature just passed a law allowing PAs and NPs to practice without physician oversight. They can set up their own clinics.

So the Nurse practitioners who has a PhD is now "Doctor Jones"...all without the hassle of med school...and without the clinical experience.

Look for these clinics staffed by aggressive advertisers with these PAs and NPs (you can afford that advertising when you don't have to pay doctors) to be Obama's answer to high cost medical care. 

Originally these were to be physician extenders, closely supervised and doing mainly triage and algorithmic care. Now they will be your primary care 'doctor' and if they do recognoze a problem...well it  will be you who pays the price. THIS is where medicine is headed.

Sat, 02/01/2014 - 22:50 | 4392632 Iam_Silverman
Iam_Silverman's picture

"Today, the same internship is 18 months and costs $20,000! Plus you have to have a BS degree in biology or microbiology. So the investment is extraordinarily high."


You know, with your past experience in lactating bovines, a useful side field would be large animal veterinary practice.  I see them as being the lonk to our future after the "big reset".  You could travel around the countryside fixing the ills of our livestock, and maybe offer a little insight to curing human maladies on the side.  Many folks I know are surprised at the amount of medical equipment you can purchase at stores such as tractor Supply Company and such.  Injectibles, powdered sulfa, you get my drift.

Sun, 02/02/2014 - 10:50 | 4393294 Agstacker
Agstacker's picture

When I was going to school for clinical lab science, the majority of the population of students were from foreign countries.  

Sun, 02/02/2014 - 12:55 | 4393511 jerry_theking_lawler
jerry_theking_lawler's picture

Go into one of two fields... 1)Energy 2)Food. I used to have 3)Medical in there but the writing is on the wall with .gov intervention....

Sun, 02/02/2014 - 03:07 | 4393045 Vendetta
Vendetta's picture

Yep.  My sister is a nurse (LPN) and makes only poverty wages working ridiculous hours.  For a multi-trillion dollar industry, the money isn't flowing to people who provide the most one-on-one healthcare services.

Sat, 02/01/2014 - 16:36 | 4391736 highly debtful
highly debtful's picture

Impressive rant. And I mean that, because there's a lot of truth in what you write. America losing its manufacturing base will prove to be a costly mistake. Europe is going the same way. 

But here is something I don't quite understand about the US and Americans: this unbridled consumerism. Why is that? What caused the Americans to adopt a lifestyle they could not really afford in these past decades? You see, here in Europe, we make a very clear distinction between a credit card and our - how to define it correctly - regular bank card, which is pretty much a debit card. And using such a debit card is like pulling bank notes out of your wallet when you pay for something: your bank account is debited for the paid amount within days, whereas a credit card in general is used only for major purchases over here. But if I understand it correctly, you Americans use your credit cards for the purchases most Europeans use their regular bank cards for. And that way you run up impressive debts on which you have to pay equally impressive intrest rates. 

Now don't get me wrong: most European countries are economic basket cases as well and we have plenty problems of our own. The point of this post is not to prove that Europe is superior in financial management, because clearly it is not. But I only want to comprehend how you came to be so hooked up on stuff, more so apparently than we did over here? 



Sat, 02/01/2014 - 17:15 | 4391804 Frank N. Beans
Frank N. Beans's picture

maybe over here in the U.S. we have more TV commercials and more advertising in general, and I guess it works because Americans keep buying lots and lots of crap.  We've also been taught that we can have it all, so we do. 


Sun, 02/02/2014 - 03:12 | 4393049 Vendetta
Vendetta's picture

The US market is advertising saturated and just like any other 'product' too much of it diminishes its value.  To the point of I personally treat advertising as annoying noise that needs to be shutoff and/or tuned out. 

Sat, 02/01/2014 - 17:43 | 4391856 Jena
Jena's picture

HD, credit card debt makes no sense to me either because so long as you carry it you're paying more for every small item you purchase than you would if you had paid cash. That's money going directly to banks.

I use a credit card in favor of a debit card because it has some better security features, such as they are. 

That said, we pay our balance every month. Anyone who carries a credit card balance if they don't absolutely have to is foolish.

Sat, 02/01/2014 - 18:09 | 4391928 Miffed Microbio...
Miffed Microbiologist's picture

We do the same Jena. For the longest time we only used cash or debt cards when somehow someone got our debt card recreated it and tried to buy $10,000 worth of camera equipment in Florida on line. The store questioned the large purchase and the bank contacted us. Because we had overdraft protection on our accts, the purchase could have been completed and we had no protection like a credit card. We wised up and eliminated the overdraft protection and keep a small amount of money in our checking accts. We use credit cards and cash now and pay off the balance monthly.


Sat, 02/01/2014 - 20:01 | 4392212 LooseLee
LooseLee's picture

Today's American is intellectually and emotionally 'empty'---and uses 'consumerism' to fill that HUGE void...

Sat, 02/01/2014 - 23:03 | 4392593 TruthInSunshine
TruthInSunshine's picture

Consumerism is the opiate of the masses, and the average American probably burns more calories shopping (even if by keyboard) than via all other of his/her activities combined.

Select quotes from from Fight Club, because they so succinctly & perfectly sum up the modern day American Ethos, in an era where the marketers figured out how to clamp onto the brain stem of Americans & pulverize the socket that plugs into reason into a jelly like goop:

"Advertising has us chasing cars and clothes, working jobs we hate so we can buy shit we don't need. We're the middle children of history, man. No purpose or place. We have no Great War. No Great Depression. Our great war is a spiritual war. Our great depression is our lives. We've all been raised on television to believe that one day we'd all be millionaires, and movie gods, and rock stars, but we won't. And we're slowly learning that fact. And we're very, very pissed off."

"We're consumers. We are the byproducts of a lifestyle obsession. Murder, crime, poverty, these things don't concern me. What concerns me are celebrity magazines, television with 500 channels, some guy's name on my underwear. Rogaine, Viagra, Olestra."

"You are not your job. You're not how much money you have in the bank. You're not the car you drive. You're not the contents of your wallet. You're not your fucking khakis. You're the all-singing, all-dancing crap of the world."

"The things you own end up owning you."

Sun, 02/02/2014 - 00:33 | 4392876 PT
PT's picture

The more I try to be sensible, the more I understand why idiots choose to be idiots.  I still have no desire to be a bigger idiot than what I already am, but I understand why idiots look at my lifestyle and say, "Fuck that!  Where's my credit card?!!!"

Sun, 02/02/2014 - 01:56 | 4392901 PT
PT's picture

One of the best decisions I made in my life involved being the stupidest, most idiotic consumer in the world, and at the time I did it I knew I was being the ultimate idiot.  Okay, okay, I'd done the maths to prove that I could afford to buy a nice new motorbike but I didn't bother putting "mortality rate of new sports bike rider" into the calculations the way a finance company does.  So it was hard to get finance, even though I could prove that I could afford the repayments.  I had plenty of time to plan, but I still went into the shop fully conscious and aware that I was going to utter the stupidest words, known to mankind, to a salesman:  "If you can get me finance then I will buy it."

I felt embarrassed saying those words, I hated saying those words, but I did not regret it EVER.  The alternative would have involved waiting another three or four years, if I was lucky ( we all know about those unexpected expenses that pop up and destroy our savings plans - one year I calculated that I spent 5 grand on "unexpected expenses" that I could not budget for ) and I decided that four years experience on two wheels was worth more than four years of getting older.

Sun, 02/02/2014 - 11:02 | 4393305 Semi-employed W...
Semi-employed White Guy's picture

As it turned out, 2 years after that movie came out, we did have a war: The War on Terror.  Or, as Borat more accurately described it, The War Of Terror.  Not exactly a "Great War" by any means.  Within a decade, we had the Great Recession.  Another Fed-induced exercise in declining unemployment and wages but with greater corporate profits.  Yet pretty much everything in American culture stayed the same. The corporate/consumer/celebrity-driven aspects of it are probably even worse now than then.

Sat, 02/01/2014 - 17:11 | 4391781 tyrone
tyrone's picture

well gee burton, I detect from your rant that you are still hanging around your town.  Man it must be nice to just sit back and expect a job to come to you.  Me?  I lost my job once years ago during a prior recession.  I looked around briefly, and sent out resumes and had a few interviews.. and quickly decided that I wasn't going to find anything in my town which would pay anywhere near what I was making before my job loss.  So, I went on the road and landed a job within 4 weeks in a city over 1000 miles away.  Since my wife still had a job, she stayed behind because we needed her income also.  While I worked in my new job, every week, I received the local sunday paper employment section in the mail from my wife.  I would pick out a few likely jobs and send off resumes, only to be rejected.  I eneded up working in that city for 4 years before a job opened up in my town which I was able to get hired into.  It also payed close to what I once made there.  I wonder if you ever considered leaving town and going on the road, leaving your family behind to find work where it exists, sending money back to mama until you could return to work at home once again?  Novel idea huh?


Sat, 02/01/2014 - 17:22 | 4391809 James_Cole
James_Cole's picture

Novel idea huh?

Yes, a brilliant idea. But it needs to be expanded a bit.

Let's talk theory. Hypothetically let's imagine one country (country x) implements a trade agreement with some other countries. Let's say that trade agreement sends people from country y employed within - for sake argument let's go with agriculture - into the ranks of unemployed.

The clear solution is to send those unemployed people from country y into country x where they can once again find gainful employment. Nothing at all could possibly go wrong with this plan.

I hadn't even realized how simple it is to solve the problem of (global) labour arbitrage!

Sat, 02/01/2014 - 18:37 | 4392000 Professorlocknload
Professorlocknload's picture

+ tyrone.

  Adaptability is key. I learned early on that nothing stays the same in the world of living making, unless one can tolerate stagnation.

After an entrepreneur acquaintance convinced me that JOB stood for Just Over Broke, I fired the boss and ventured out on my own. Had to change direction many times as new ways of doing things displaced old, but it  most always paid off.

All I had to be was the low bidder, then find a way to meet the budget.

Sat, 02/01/2014 - 19:05 | 4392078 TheAnswerIs42
TheAnswerIs42's picture

All I had to be was the low bidder, then find a way to meet the budget.


There, you said it, the MAGIC word - BUDGET.

I really don't think most people with financial problems understand that word.

Sure, shit can happen, but that's why you build up a buffer in savings during the good times.

If you can't keep a credit card at zero balance, you are doing something wrong.


Sun, 02/02/2014 - 00:28 | 4392822 PT
PT's picture

I understand the word, "budget".  And if anyone looked at my lifestyle they would quickly understand why others choose to ignore the word, "budget".  If everyone copied me then we would have entered a recession 20 years ago.  I bought a second hand fridge, washing machine, table and bed in my 20s.  I was well into my 30s before I replaced them or bought any other furniture or any new furniture.  Ask Mr Furniture-Shop-Man if he wishes anyone else to stick to their budget like me.

Sun, 02/02/2014 - 00:26 | 4392862 PT
PT's picture


Where I live, thousands of people work thousands of miles away from home in order to chase the "big" bucks ( actually it is "medium" bucks and town pays the small bucks.  The price of real estate has stolen all possible gains in this economy ).  Ever heard of 4/1?  6/1?  Yes, that's four weeks away and one week at home ( or 6 away and one at home ).  Or you can think about it this way:  If you did it for ten years then you have spent 8 years away from your family.  But sometimes folks can't bear to let go of the money but can't bear to be away for so long.  So you get situations where they get a divorce because hubby is never home anyway and his own kids don't recognize him and then he has to work away in order to pay for the lawyer to get access to see the kids.

Personally, I like the lifestyle and it suits me for now.  But that doesn't make me a role model by any means.  Yes, it does make a lot of sense to move to where the work is, but to expect the whole world to do it and insist that it is a harmless solution and there is no better way is just bullshit.

To "honestly" chase the dollar means we should all become bankers with TBTF status.  It is the only game left in town. 

Sun, 02/02/2014 - 11:10 | 4393321 Semi-employed W...
Semi-employed White Guy's picture

Go north west, young man, and work in the Bakken oil fields! But be warned. From what I can gather from this rather disjointed article, these are manly men, that like to drink, copulate, fight, injure each other on the job and share their homoerotic thoughts that are brought to the surface thru the occasional use of LSD.

Sun, 02/02/2014 - 22:01 | 4394605 Chuck Walla
Chuck Walla's picture

Jack Burtonn,, thanks for a dose of reality and compassion.


Sat, 02/01/2014 - 14:29 | 4391517 mrdenis
mrdenis's picture

I wonder how many of these are public workers or teachers

Sat, 02/01/2014 - 15:30 | 4391627 DontGive
DontGive's picture

Probably a whole lot of em. Seen a lot of folk over the years making six fig and still broke.

Sat, 02/01/2014 - 16:17 | 4391702 toady
toady's picture

Me too. In fact, I was one of them.

I dropped out with a plan though. I'm probably counted as one of these paycheck to paycheck people because I only let enough money to pay the bills accumulate each month. Everything else goes off-book as fast as possible.

I'll be damned if I'll let any .gov or corporate entities get in a position where they can misappropriate my money.

I wonder how many other paycheck to paycheck folks feel the same way.

Sat, 02/01/2014 - 22:54 | 4392647 Iam_Silverman
Iam_Silverman's picture

" I only let enough money to pay the bills accumulate each month. Everything else goes off-book as fast as possible."

Now how in the heck are you gonna fund your MyRA TM with that kind of attitude?

Sat, 02/01/2014 - 15:36 | 4391639 mofreedom
mofreedom's picture

especially if they get slivers in their sides from leaning on their shovels 90% of their work day and get workers comp till they keel over.

Sat, 02/01/2014 - 14:34 | 4391520 Debtonation
Debtonation's picture

Never a bad idea to have some physical gold on hand either.

Sat, 02/01/2014 - 14:34 | 4391521 Debtonation
Debtonation's picture

Never a bad idea to have some physical gold on hand either.

Sat, 02/01/2014 - 15:02 | 4391569 Handful of Dust
Handful of Dust's picture

I've read that somewhere before.....good idea!

Sat, 02/01/2014 - 19:19 | 4392114 KickIce
KickIce's picture

Link?   :)

Sat, 02/01/2014 - 23:00 | 4392664 Iam_Silverman
Iam_Silverman's picture

"I've read that somewhere before.....good idea!"

True.  Almost bears repeating.

Sun, 02/02/2014 - 01:31 | 4392124 813kml
813kml's picture

I'm sure these deadbeats have some gold fillings that the undertaker can pry loose for funeral payment.

That's almost like stacking, right???

Sat, 02/01/2014 - 14:41 | 4391526 One And Only
One And Only's picture

Get a MyRA, eat your peas, and stfu.

I guess if you contribute to your MyRA with funds from your disability check that means the government is paying you interest for your retirement on money the government borrowed and is paying interest on with contributions from MyRA (seeing as contributions to MyRA go into UST's)...ehrm.

Did I get that right? this right?

Sat, 02/01/2014 - 17:26 | 4391823 The Old Man
The Old Man's picture

Me thinks you have positively defined what is now to be forever known as a monetary "Circle Jerk"!

Sat, 02/01/2014 - 18:47 | 4392035 Professorlocknload
Professorlocknload's picture

'Mean it's not magic?

Sat, 02/01/2014 - 14:36 | 4391527 I am Jobe
I am Jobe's picture

Hookers , Pimps and Drugs. The future of Amerika 

Sat, 02/01/2014 - 14:38 | 4391536 Tinky
Tinky's picture

Finally – an optimist on ZH.

Sat, 02/01/2014 - 14:50 | 4391556 fonzannoon
fonzannoon's picture

The bad news is we are all broke, the good news means we have one less thing to worry about.

Sun, 02/02/2014 - 13:04 | 4393525 jerry_theking_lawler
jerry_theking_lawler's picture

Yep. He left out .gov and I guess they will be abolished?

Sat, 02/01/2014 - 14:36 | 4391531 buzzsaw99
buzzsaw99's picture

i seriously doubt that 56% of americans have $6k in savings.

Sat, 02/01/2014 - 15:05 | 4391575 Winston Churchill
Winston Churchill's picture

Now I know how they came up with the Obozocare deductable.

Silly me.I thought it was a dartboard.

Sat, 02/01/2014 - 15:04 | 4391578 Yen Cross
Yen Cross's picture

  They're retarded if they do buzz. Long shiny stuff and black markets...

Sat, 02/01/2014 - 17:47 | 4391873 Caveman93
Caveman93's picture

I'm with you Buzz, it's a BS number.

Sun, 02/02/2014 - 11:24 | 4393343 Semi-employed W...
Semi-employed White Guy's picture

They must be counting the $6k that the average schmoe could get via cash advances on their credit cards. 

Sat, 02/01/2014 - 14:41 | 4391540 thomasincincy
thomasincincy's picture

it must be the weather

Sat, 02/01/2014 - 14:50 | 4391553 Kaiser Sousa
Kaiser Sousa's picture

there's gonna be blood...

what u think is gonna b the state of the fucking union when mother fuckers get tired of being hungry and broke...

i tell people all the time...aint too many debt slaves gonna stand at the end of a freeway exit with a plastice cup beggin other poor folks for spare change for much longer...i know i wouldnt if all legitimate and fair means to improving my lot were systematically removed by sociopaths controlling this Banker bought, lock, stock and BARREL government...

aint no jobs for broke ass americans, and aint no money...

but they got guns a plenty...thats why Homeland Bullshit Security ordered all that ammo...

tic, fucking toc.....


Sat, 02/01/2014 - 15:15 | 4391593 Crash N. Burn
Crash N. Burn's picture

"aint no jobs for broke ass americans, and aint no money.."

'Twas always the plan. You know it "free" trade

 "Globalization is primarily a model of wage-destruction: goods in the 21st century global economy are not produced where they can be produced best (“comparative advantage”); rather they are simply produced where the Oligarchs can pay the lowest slave-wages. It is a perpetual race-to-the-bottom for workers; while all the profits/benefits of global production are hoarded by these Corporate fronts (i.e. the One Bank), on behalf of the Oligarchs.

Globalization was a (Western) scheme with the primary goal of giving away tens of millions of Western manufacturing jobs (literally “shipping them to Asia”), and destroying the wages and working conditions for the jobs which remained for Western workers – with the ultimate objective of global slavery. And the Oligarchs are succeeding.

Western “structural” unemployment is now somewhere in excess of 100 million workers, we’re not sure precisely how obscenely large this number is, because our Traitor Governments refuse to measure the total number of unemployed workers – or, at least, they simply refuse to tell us that number. It is the worst unemployment ever experienced in the Western hemisphere since the Industrial Revolution."

2013: A Successful Year of Price Suppression, Part III



Bankster scum couldn't do it without their whores - our governments!

Sat, 02/01/2014 - 16:40 | 4391743 Carl Popper
Carl Popper's picture

Technically the goal was to get the world integrated and interdependent through increased trade of goods and services so that there wouldnt be any more wars and shit.

Sat, 02/01/2014 - 17:44 | 4391852 Crash N. Burn
Crash N. Burn's picture

"Technically the goal was to get the world integrated and interdependent through increased trade of goods and services so that there wouldnt be any more wars and shit."


 Yes that was the propaganda, however:

"..globalization is really all about; making the world a “better place” for the world’s largest mega-corporations – and only the largest mega-corporations. Any benefits for people which result from globalization are purely accidental, and completely unintended.

When our Western governments betrayed their own populations, and signed these “free trade deals”; they only erased some of the trade-distorting rules which made our international system less-than-pure. Specifically; they tore-up all of the rules which provided protection/support for jobs and wages, and they kept most of the rules which only subsidized corporations." - from the same article as my previous post

Sat, 02/01/2014 - 20:13 | 4392236 Papasmurf
Papasmurf's picture

Technically the goal was to get the world integrated and interdependent through increased trade of goods and services so that there wouldnt be any more wars and shit.

From an engineering standpoint, that is the wrong thing to do.  It makes the system vulnerable to single point failure and increases the quantity of such failure points.  Redundancy is best.  Nature employs redundancy in all critical systems.

Sat, 02/01/2014 - 21:03 | 4392345 lotsoffun
lotsoffun's picture

carl popper - don't know what you been poppin - but i likes the spin.  it's lovely.  'i'd like to buy the whole a coke, in perfect harmony'.

and if they bought a pepsi - what happens?  disharmony?

peace and love bro'  - and remember to vote obama - he's all in on that shit.


Sun, 02/02/2014 - 09:24 | 4393216 Ghordius
Ghordius's picture

Carl Popper, your narrative is the one that is causing American English to have that funny, ill-defined quasi-entry of globalism

globalism as the wish for more world integration and less war (that's a nicer narrow one)

yet the comment on what you are commenting is the other very narrow, labour-view definition of globalization

globalization as the wage arbitrage process by which simple jobs are matched with cheaper markets labour, i.e. some jobs leave their countries

yet the problem why both terms have so many narratives and are so difficult to agree on is simple: all this has one root cause: free trade

define sharply your and other people's stance on free trade and you'll see the world in all it's crystal clear clarity

Sat, 02/01/2014 - 14:58 | 4391562 Cable Guy
Cable Guy's picture

If these numbers were real, and we lived in a free market economy, anyone making more than $250,000 a year would be wealthy.  Would be able to own multiple houses, cars, etc.  So something ain't right.  I'm calling BS.  The malls are full.  Brand new cars are everywhere.  Every plane is full.  Etc.    

Sat, 02/01/2014 - 15:12 | 4391587 Handful of Dust
Handful of Dust's picture

Planes are full that's for sure.  Who is flying?  Well, corps (shareholders) pay for their tickets....and military (and their large families) fly free as do many gubmint workers...then there are the few poor working saps who have saved enough of their own money to fly to Disneyworld or the Superbowl once every five years and paid for their own ticket.

I used to visit my sister working in Asia once in a while, but the ticket has shot up from $450 to over $1200 in a few years time.

She has to settle for an emial now.

Sat, 02/01/2014 - 23:18 | 4392708 Iam_Silverman
Iam_Silverman's picture

Please, do elaborate on this part of your statement:

"and military (and their large families) fly free"

As both a veteran and a member of a military family, the only planes I ever rode on were government owned or chartered through the Military Airlift Command (MAC - now called Air Mobility Command).  These were on space available" basis.  Active duty flying to a new duty station or meeting their deployed command overseas were given first boarding.  Growing up our family (the dependents) NEVER flew commercial "for free" as you allege.  You haven't lived until you've been to Okinawa in a C-130 and beheld the marvel of sling seats and cargo (stepfather USMC)!

Now, as an active duty member, I have flown commercial when I was meeting our command (the boat) at an overseas port.  And yes, my ticket was fully paid for by the U.S. Government under a reduced-fare understanding.  If my spouse were going to travel with me and see me off at that foreign port, I would have had to pay for a ticket at whatever rate I could have negotiated.  Sometimes the SATO (Scheduled Airlines Ticket Office) could get me a better deal than the travel agents could, but not very often.

Sun, 02/02/2014 - 13:09 | 4393536 jerry_theking_lawler
jerry_theking_lawler's picture

planes are full because there are less routes....maximizing their do I know...I travel alot and the number of flights in/out have decreased and the utilization (empty seats) have decreased.....packed to the hilt but not as many people traveling.

Sounds like the US with taxes, trying to maximize the efficiency of the system, versus growing the system overall....great for the oligarchs. just plain shitty for the working peon.

Sat, 02/01/2014 - 15:16 | 4391596 Yen Cross
Yen Cross's picture

  I'm not sure what neck of the woods you're in, but the malls aren't full in my suburban enclave.

 Car dealers are struggling to offload all of the channel stuffed inventory bought/brought forward for Q-4  GDP numbers in '13.

Sat, 02/01/2014 - 15:33 | 4391630 DontGive
DontGive's picture

Pretty sure the anchor stores going tits up will help the malls..


Long malls.. /sarc

Sat, 02/01/2014 - 15:41 | 4391648 Overfed
Overfed's picture

I live in a county of about 100000 out here in FEMA region X. This particular area has, I think, been less affected by the recession than most that lack a heavy .gov job presence. Even at that, the local mall has been dying for nearly 10 years. Two of four anchor stores have closed for good. The food court has maybe two vendors, and probably 30% of the smaller retail spaces are empty at any one time.

Even in downtown, there is plenty of space available. I've seen more bustle in Mexican working towns.

Sat, 02/01/2014 - 15:41 | 4391651 Winston Churchill
Winston Churchill's picture

Haven't seen so many cars on dealer lots since 2008,down

here in south Florida.Overflowing onto next door fields.

But Detroit is fixed right ?

Please do not worry.

Sat, 02/01/2014 - 19:05 | 4392082 Professorlocknload
Professorlocknload's picture

  Same here in the SW. Cars and trucks stacked from curb to back lot at the dealers. Still lines at the chain eateries everyday. While the Mall is consistently losing tenants.


Can't buy buffalo wings from Amazon, but you can www ishit, cars and sneakers.

Sun, 02/02/2014 - 13:14 | 4393545 jerry_theking_lawler
jerry_theking_lawler's picture

I made this observation (and commented) a few weeks ago. Same in midwest and south.....malls are dead, eateries are busy (at certain times), and just noticed the car lots are getting channel stuffed my suprise, the chevy dealer was one of the better seems like. toyota, off the chain. local dealer would periodically put some trucks in an empty grass lot adjacent to the dealer (maybe 8-10 vehicles). I bet there are 30 vehicles in the lot now and it is almost filled up as well. Either the dealer is doing well with high inventory turns (thus needing lots of extra vehicles) or they are being stuffed....

Sat, 02/01/2014 - 16:44 | 4391749 eucalyptus
eucalyptus's picture

yep, in the market to buy in the next 3 weeks and loads of '13 clogging up floorplans at dealers in my north-east search radius.

mind you, when you email them for a quote on a model that's been sitting for 4 months on their lot, they still quote an absurd price. so absurd that you are disgusted to even offer anythign in counter.

Sat, 02/01/2014 - 19:11 | 4392099 Professorlocknload
Professorlocknload's picture

they still quote an absurd price.

That's because they can get that price from a subprime customer, who has no intention of paying the loan back in the first place.

Why bother with a cash customer when a dealer can get full MSRP plus sell the 9% loan into the market at premium?

This whole thing is bent beyond fixing.

Sun, 02/02/2014 - 13:21 | 4393560 jerry_theking_lawler
jerry_theking_lawler's picture

EXACTLY. In the market for a new ride....going to be paying cash (this used to be a big deal). Working with both dealers and private. Found one at a dealer at a fair price, dealer would not respond to me because someone was 'purchasing' the car (probably at list price). I said I was paying cash and could come to the dealership immediately for pickup for asking - $500. The guy said the car was sold pending I made other plans. Guy calls me Saturday begging me to come in and get the car. Said the other deal fell through.....i laughed and told him I may consider but my price is now asking -$1000....


Next, called a private seller. Car with features, etc but the pricing was a little high. Ask if they could take x (which was about $1500 less than list). Seller said they couldn't because they needed the payoff amount. When I asked them why they were selling the noted that they had lost their job and didn't need a second when payoff is more than kbb and nada for your model, just go ahead and hang it aint selling it. I could've went to the dealer and bought new for a better deal. This vehicle will join the repo/auction masses soon.

Freaking crazy what our .gov has allowed the .fed to do.

Sat, 02/01/2014 - 15:07 | 4391581 oleander garch
oleander garch's picture

Does this count corporate citizens like the big banks? It should because if you uncooked their books, they have negative liquid assets and are living pomo to pomo.  Corporations are people, too, my friend.

Sat, 02/01/2014 - 15:19 | 4391601 New American Re...
New American Revolution's picture

I think this report is overly optimistic.

Sat, 02/01/2014 - 15:28 | 4391619 Caviar Emptor
Caviar Emptor's picture

Yes! The biflationary quicksand will quickly swallow up that piddling $5K in "cash-flow positivity".

Economic release this week: income growth 0%. Unit labor cost up!

Sat, 02/01/2014 - 17:14 | 4391799 Yenbot
Yenbot's picture

Agreed. % statistical error, sampling bias, incomplete data sets. We playin' Monopoly, suckers. An we losin.' Big-Time!

Sat, 02/01/2014 - 17:20 | 4391811 El Vaquero
El Vaquero's picture

Yessir, and that's why I hoard seeds.  I have a bunch that I saved, have a hard time not buying a packet or two of something that looks interesting if I walk by a shelf in the store, and picked up several varieties of beans, squash and corn today.  I just put another 500 ft2 of garden space in last week as well.  It needs leveling, but I amended it with rotted manure and compost.  It'll be a little tough this year, but the soil will get better each year as I tend to it.  My goal is to not purchase any produce after this fall, unless it is from local farmers, and to breed cultivars that do well in my soil with my practices in my climate.

Sat, 02/01/2014 - 15:20 | 4391602 813kml
813kml's picture

I would open up a payday loan shack if there weren't already a million around my area.  They are thicker than Starbucks, some are located directly across the street or even next to each other.  I used to wonder how they all stayed open, but I guess it's not hard to find new victims when over half the population is a potential mark.

I can only imagine the stress and pain inflicted by extreme usury, there should be a special circle of Hell reserved for their piece of shit owners.  My guess is that they'll be the first targets of Molotov cocktails if the shit ever hits the fan in the US.  Joe Sixpack might not be able to get his hands on the Dimons or Blankfeins of the world, but stringing a few local Shylocks from the nearest lamppost would be the next best thing.

I'm not a religious man, but usury is one thing the Bible got spot on.

Sat, 02/01/2014 - 17:04 | 4391778 greatbeard
greatbeard's picture

>> but usury is one thing the Bible got spot on.

I'm not particularly a religious man either, but the bible got a lot of stuff spot on.  Most.  Its the self serving humans that have corrupted religious script.  Please Jesus, save me from your followers.

Sat, 02/01/2014 - 23:31 | 4392747 Iam_Silverman
Iam_Silverman's picture

About the Bible.....

One day, I decided to take a totally detached look at the Holy Bible.  Strangely enough, it was after watching the last installment of The Matrix.  Maybe I had my own personal revelation, I don't know.  Anyway, it seems to me that this "book" is just like watching The Matrix.  It details civilization's rise and decline, and the fact that certain events may happen, will happen, and then you start over again.

It really seems to be self evident - if you allow the moral fabric of any civilization to decay, the end result is very predictable - and certain.  When the focus of the populace is on self pleasure (through sexual gratification or consumerism), the building of wealth, and power (political or military), then it will all go to shit.

So, even when Neo was confronted with the knowledge that this has all happened before, and would happen again, he knew that he was making the right choices at the time.  And then, he died.  Just like every other time.

On a very long timeline.......

Sat, 02/01/2014 - 15:23 | 4391607 Caviar Emptor
Caviar Emptor's picture

Not to worry! The trillions that were transferred to the rich are just about to trickle down! Prosperity is just around the corner, brothers

Sat, 02/01/2014 - 17:41 | 4391851 Pure Evil
Pure Evil's picture

Nothing like pennys falling on your head to give the poor the illusion of wealth.

I guess if .gov stops making the penny, the oligarchs will just have to shake loose some nickles instead of pennys.

Sat, 02/01/2014 - 18:39 | 4391997 813kml
813kml's picture

Too true, I think that's why talk of raising the minimum wage is gaining traction.  The plantation owners have noticed that the natives are getting restless and will magnanimously raise it a paltry amount so the serfs can feel like they stuck it to the man.  And then corporations will seize the slight increase in labor costs as an opportunity to raise prices more than necessary, and Joe Sixpack will be right back where he started.

Sun, 02/02/2014 - 02:09 | 4392995 PT
PT's picture

Those over-priced houses ain't paying for themselves, you know.  Either wages go up or rents and mortgages have to come down.  You can flood the country with illegals but if all they do is earn fuck-all then the elite are still going nowhere.  Somewhere, amongst the powers - that - be, there are a few elite that realize that they cannot keep their fortunes with the current wage - real estate / share price - revenue disparities.  They know that a minimum wage increase will help them, but they can not be seen to be the ones saying it aloud, lest it all gets out of their hands.

The rest of the elite are all happily rolling around in derivatives and bail-outs. 

Sat, 02/01/2014 - 15:25 | 4391610 shutdown
shutdown's picture

That pie chart has the race percentages all wrong, jacked up big time.

Sat, 02/01/2014 - 17:43 | 4391853 Pure Evil
Pure Evil's picture

What I don't understand is the statment people of color and then they segregate whites out.

Isn't white a color?

Sat, 02/01/2014 - 15:42 | 4391616 blown income
blown income's picture

I am one of them


Sad thing is I earn 108k a year and my employer pays $200 a month to my insurance ($2,400) not bad you think . Thats a good salary for a collision painter ...


Here in Lafayette Louisiana I swear it's minimum wage!!!!

Housing hear is through the roof!!!! Affordable is out the window


This is listings for open houses this weekend


This is the "creame of Lafayette"

$200 a square ft on zero lot line postage stamp lots



Food is outrageous , no going out to eat for us

Our going out consist of Subway $5 dollar foot longs to go


Drive down the main roads with all the chain restaurants and I swear people waiting outside to eat , parking lots packed..


I know that here is tied to oil & gas but dam , $65k F250's in every driveway with a Lexus next to $150+ a sqare foot houses


Always thought you break a $100k a year your doing good ...


Nope ...paycheck to paycheck..

Fuck you Ben!





Sun, 02/02/2014 - 07:32 | 4393153 blown income
blown income's picture

You wouldn't walk the street at day much less  night in that section of town

Sat, 02/01/2014 - 17:06 | 4391783 greatbeard
greatbeard's picture

Not to be harsh, brother, but if you are making $100K+ a  year and living pay check to pay check, Ben is not to blame.  Ben may be Satan's whelp, but you are responsible for you.

Sat, 02/01/2014 - 19:53 | 4392185 blown income
blown income's picture

After taxes , health insurance for me , my wife and my daughter and ponzi schemes deducted doesn't leave a whole hellva alot  . almost half of a check !! The more you make the more they take..

Rents through the roof here , we purchased a home built in 1978 for $150k with a yard  and still have to re do everything ...It's just crazy here!

And to top it off try getting home owners insurance South of I-10 try $4,600 a year !!!!

Wife drives a 07 Sonata and I drive a 15 year old 2500


Health Insurance is the killer , the Mrs. is 50  me 44  our daughter is 8


Been here 17 months , in the Charlotte market my skill set paid at most $50/60k


Came here for the $$$ my fault I didn't do more research cause now I know why pay is double , it's double cost to live !!!!




As for Ben , and the Wall Styreet goons , we got cleaned out in 08'


Sat, 02/01/2014 - 17:12 | 4391793 stocktivity
stocktivity's picture

Start writing down every single expense for a month. I mean every penny. 108k and you're living paycheck to paycheck? Something wrong. You blame the area but I'd bet you that a family making 30 - 40k a year in your area can stay afloat. You need to do a major change in your spending habits (or someone's spending habits in your family).

Sat, 02/01/2014 - 17:22 | 4391815 Tinky
Tinky's picture

I've just done a quick review of your most recent tax return, and couldn't help but notice the $37k deduction for "Entertainment" expenses. Perhaps that's the problem.

Sat, 02/01/2014 - 17:47 | 4391869 Pure Evil
Pure Evil's picture

I can't feel too sorry for the guy. Food is up everywhere. Think its high in Bayou Country, try heading to Jersery, NYC, or California.

Hell, were I live they raise food prices like 6 to 10 times a year.

Sat, 02/01/2014 - 19:37 | 4392153 kareninca
kareninca's picture

blown income, those houses look unbelievably cheap to me.  The median house price in my area is well over a million dollars  -  many, many people here rent hideous little studio apartments for $2000/month, and would in their dreams have your income and your house prices.  You can buy a house for 2 and a half times your gross income  -  WTF are you whining about?  Look at this from the local Craigslist apartment rental postings (and except for Palo Alto these are not fancy towns):

Who doesn't love a gas stove?? $2705 / 2br - 1026ft² - (foster city)

Enjoy Cooking In This Gorgeous Kitchen with Granite Counter Tops! $2909 / 2br - 1114ft² - (san bruno)  

Just a stone's throw from the San Francisco Bay. $2305 / 2br - 850ft² - (san mateo) 

Relaxed living in the Bay Area $1909 / 1br - 754ft² - (San Mateo) 

Move-In Immediately -Very Spacious 1 Bedroom with W/D in Unit! $2300 / 1br - 700ft² - (redwood shores)

2 BR Apartments with Gorgeous Interiors & $1000 off first month rent! $2755 / 2br - 1100ft² - (foster city) 

Welcome Home !!! - Amazing 1x1 Large Apartment March 22nd $2680 / 1br - (palo alto) 

I wonder what kind of car you drive, how many cars you have, what year they are.  Whether anyone in your house mends clothing.  Whether you hire someone else to clean your home, or do your yard work.  Why you would eat out, if you feel broke.  WTF does it matter that other people own Lexuses they likely can't afford.  If you have kids, you are setting them a bad example:  all around me are people from Asia who live on a fraction of their (much lower than your) incomes, and save and save.  They do it by way of what used to be old fashioned American Thrift.  Their kids are going to eat your kids' lunch.

Your post really demonstrates clueless American consumerism.  95 percent of the world's population would consider you rich, but you think you're poor, because other people around you own junk which they have bought on credit.

If I sound frustrated, it is because I was raised by yuppies who thought you had to buy and own every piece of crap, and that it mattered what othe people owned.  I was lucky enough to read Veblen and talk with Depression era folks and read a few thrift books and escape that, by the time I was in my mid-twenties.  If you don't do the same, you will never have any real savings, no matter what you earn, and no matter how cheap housing is (and your available housing is already ultra cheap).  It doesn't matter what you earn, it matters what you keep (an old Depression era saying).

There are many, many Americans suffering for real right now; you need to realize that you are not one of them, and that you have advantages that you can run with.


Sun, 02/02/2014 - 08:02 | 4393167 blown income
blown income's picture

Kali is a world of it's own , were not suffering but we are not living the way you would think with my income.



As for people here living on 30/40k a year don't look much better that what you see with poor people living in the deep hills of West Virgina.


Every day when I drive to work thre is a house where a girl waits for the bus , front yard nothing but water puddles , trucks on front yard,  I see the man who lives there is a A/C tech for one of the largest HVAC outfits here(company truck) who Iam sure fits the 30/40k income

I say a prayer everyday for that girl , that she can make it  , We teach our daughter to be thankfull for what we do have and we thank the Good Lord , but if I get hurt  that could be us or worse , I thought by this time in life I could slow down just a bit , but working harder than ever ..if the Good Lord didn't bless us ith our daughter belive me I would drop of the grid !!!



 And for the record , I was clueless until we lost it all (savings , investments)  in 08'

If Fight Club was known before the crash by us I would have taken on Meatloaf!


Sun, 02/02/2014 - 21:33 | 4394531 kareninca
kareninca's picture

blown income, I hope you do well.  I did not downvote you!!

I do think   -  I am certain  -  that you don't understand real thrift.  I am not saying that you are some big consumerist (it seems you are not), but that is only a very small start.  Go to Amazon and order a used copy of the Tightwad Gazette by Amy Dacyczn; it will only be one cent plus $3.99 shipping from one of the many sellers.  You can just order volume one (there were ultimately three).  Many of its specific tips are out of date, but the message is timeless.  I promise that it will give you a completely different attitude towards money, and how much you need to live on.  Our generation (I am about your and your wife's age) is clueless; we have to have lessons from others.

As an aside:  you will NEVER live the way that you expect, on your income.  Never.  It just doesn't work that way.  It will always be the case, unless you are Warren Buffett, that that "image" and "experience" cannot be attained.  It must be given up.  You won't miss it; you'll laugh at the thought that it seemed real.

Another thing:  it does not appear that you realize that this is your big chance, to save some money.  You lack a sense of economic history.  If things go as many on ZH expect, you will not have an income like this again; housing (maybe not the house itself but the property taxes and so on) will cost more; health insurance will cost more, food will cost more!!!  Things will get worse.  You will be very glad that you saved now.  You will be very glad of extremely thrift tips, that you learn now.  You presently look back on 2008, and wish you had understood investing.  Well, try not to end up looking back at 2014 and thinking "why didn't I take advantage of the brief good economic times???  why didn't I see that was my big chance to make up for lost savings and prepare for the future???"

Sun, 02/02/2014 - 13:24 | 4393570 jerry_theking_lawler
jerry_theking_lawler's picture

You are in the inflated 'energy' market....just goes to show you that ENERGY is king....

Sat, 02/01/2014 - 15:33 | 4391631 Duc888
Duc888's picture




...and the other 46% get a paycheck from the other "nearly half"


Go figure.


It pays not to work.

Sun, 02/02/2014 - 02:13 | 4392999 PT
PT's picture

Don't know about you guys but it pays me more to work.  If someone likes being unemployed them let 'em.  Less competition.  I'd prefer the work.

Sat, 02/01/2014 - 15:56 | 4391682 Australian Economist
Australian Economist's picture

What is a household of colour?

Sat, 02/01/2014 - 17:02 | 4391776 besnook
besnook's picture

a house with a picket fence painted a color that is not white.

Sat, 02/01/2014 - 17:50 | 4391884 Pure Evil
Pure Evil's picture

Yes, white is not a color. It's translucent, as in if you're white, the .gov doesn't give a shiite about you unless they need you to either die in some foreign war or fork over 65% percent of your earnings to the "people of color" less fortunate.

Sat, 02/01/2014 - 16:11 | 4391695 syntaxterror
syntaxterror's picture

How many live welfare check to welfare check? Another 30%?

Sat, 02/01/2014 - 16:22 | 4391714 Jena
Jena's picture

This is a link to a local newscast report about a small Pennsylvania auto repair company as the employees are receiving their insurance premium updates for the coming year.  Thanks to Obamacare, they do have expanded coverage benefits that will some will use but others won't.  Nearly all are gobsmacked by the increase in monthly premiums, co-pays and annual deductibles.  

I hope every news market in the country -- even the deepest of blue areas cover this kind of 'human interest' angle.

When your health insurance premium is more than your mortgage payment or rent, we're headed for (yet another) a breaking point.



Sat, 02/01/2014 - 16:46 | 4391750 Carl Popper
Carl Popper's picture

Zero Hedge has been such a downer today. We need something uplifting like dogs in hats

Sat, 02/01/2014 - 17:52 | 4391891 Tinky
Tinky's picture

Please – not that. The town I live in used to have three bustling dog hat factories which now lay dormant.

Sat, 02/01/2014 - 23:22 | 4392717 dobermangang
dobermangang's picture

How about a walrus exercising to La bamba! ???

Sat, 02/01/2014 - 17:04 | 4391779 besnook
besnook's picture

i doubt you will find 2 out of 3 asians living paycheck to paycheck. they may feel like they live paycheck to paycheck but only because they have no money after they put 20% of their paycheck in the bank.

Sat, 02/01/2014 - 17:09 | 4391787 Cornholiovanderbilt
Cornholiovanderbilt's picture

What's a paycheck? 

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