After reading this news story that half of Americans are skipping meals because of affordability and a bad economy, I have to ask how are you all doing out there?
I heard from a real estate agent friend of mine that REOs, i.e. bank foreclosures on home mortgages, are going up like crazy, which is a sign of bad times, like the recession of 2007-08.
I have heard from others about rents not being paid, lack of jobs, etc.
Every day, there’s more news of corporate layoffs, moreso than usual.
I live in the economic bubble of the SF Bay Area, where tech wealth more-or-less insulates me and mine from the most serious consequences of a bad economy, but how are things elsewhere?
Northeastern US. Things are okay. Worse than I would have predicted 5 years ago but not terrible.
We pay our bills, contribute to the 401k and HSA, and have still been saving every month. Our electric + natural gas bills fluctuate as we switch from electric cooling to gas heating, but their combined monthly average has doubled in less than 5 years. I’m eyeing up solar systems for some relief. We don’t drive much so the direct price of gas hasn’t been huge. Groceries are a bit more expensive, but usually not as crazy as I see on the news. Clothing has gotten wildly expensive, with thrift and outlet stores selling stuff for prices I would have paid at regular retail 5 years ago.
We’re holding on. I wish we ate out, and especially drank out, less. I was always a homebody, but nowadays its $15-$20 for a cocktail, $10 for a domestic draft, plus tip.
I grew up somewhat privileged. We weren’t rich, but my family never really wanted for anything growing up. And then I was able to live at home until 25 and pay off my student loans and get a good career with no debt. So the economy doesn’t really affect me. I don’t live paycheck to paycheck but I’m extremely frugal and I do notice grocery prices increases. That being said I’m 100% progressive and do have sympathy for others and we need to fix this system.
What does fixing the system look like though? Far too many people seem to just want to consume unsustainably and would do so even more if they could.
How much does someone need?
Yes, some at the bottom really should have more. But there are many in the middle who should consume less and will justify it by comparing to those at the top who are even worse.
Unfortunately I don’t know how to stop the spending habits of others. Me personally I only buy what I need, not because I can. No fancy car. Once in a while I might splurge but usually on a birthday or Christmas. Part of my frugal is because I don’t know the future of the economy. If the market tanks that will affect my 401k too.
Taxing the rich could be a start. Universal healthcare. I’d be fine paying more taxes if it meant everyone was covered. Putting the right people in charge to make these changes. Get rid of the two parties, the electoral college, and use ranked voting. We’re close to getting rid of the popular vote, just need some more states to sign on.
Honestly its not their problem to create a new system that magically works. Its OK to just say the system sucks and we need to replace it. Americans are so caught up in perfection that we can’t see the good that a few actions can take to make the world more habitable.
The rent is too damn high guy has a point. Lower housing costs and even if you change nothing else, cost of living becomes far easier to manage.
Feel like donating to the cause? (The cause is that I would like a computer)
Researcher here who taught graduate level research skills: I’m walking dogs.
Because of the belief that the economy is bad, employers are taking advantage of working class people by removing their niceties like remote work and easy work days. We’re being told to work harder and produce +50% to make up for a 10% shortfall which feels like a fucking scam.
Rural north-eastern Brazil.
I’m unemployed, living with my mom and sibling and we’re neck-deep in debts while living on less than $400 a month. I can’t afford to go to university and there are little to no jobs that I can do nearby (I’m autistic and have a shitload of sensitivities). I’ve a couple more places to apply to, and my dad is studying the possibility of bringing me to live with him somewhere else.
I’m on the look out for jobs for 4 people right now but not seeing anything good so far despite their talents.
Everyone is stuck housing wise where prices are so high plus inflation most I know can’t get into buying a house and those that want to sell are holding off.
Every retired person I know is on active look out to reduce expenses drastically because the fixed income just enough.
Australian here. Financially things are okay for me and most the people I know, but the general stress is getting to us all. I always feel so worn down. A weekend is enough time to not want to die but not enough time to get actually rested.
I had to get a mouthguard because I’m grinding my teeth at night and the dentist said they’ve seen a spike in the number of people with the same problem. The stress is real and measurable.
I think that teeth grinding thing tends to happen anyway as you get older.
My dentist said I grind my teeth because I snore, i.e. apnea, which is a serious medical condition that can affect brain health later in life due to oxygen deprivation during sleeping hours.
This affects your ability to get long-term care insurance here in the States, because risk of dementia, stroke, etc. is much higher.
If a housemate/roommate/spouse/significant other says you snore, you should get yourself checked out by a sleep clinic and be prepared to have them prescribe a CPAP device.
Back to the grinding, like an idiot, I didn’t follow my dentist’s advice from 10-15 years ago to get a mouth guard, and my molars have been ground completely flat, resulting in multiple root canals and implants right now.
So you’re doing the right thing getting that mouthguard.
Cheers.
I am in Melbourne, Australia, things are still ticking along fine enough BUT we can see the wave coming.
There was a book from 1957 called ‘On the beach’, it was about Melbourne being last city on Earth that has survived a nuclear war and how we would surcumb to the same fate as everyone else. It is starting to feel like that but in economic terms.
On The Beach was adapted into a good movie in 1959
No money. Living in a camper on my parents’ property while going back to school to become a massage therapist, because AI can’t squeeze people.
So not so great, I guess. But hopefully the license turns the money spigot back on, cuz Uber driving is becoming slavery and is barely profitable.
A few years back there was an ad campaign for a construction company, they put it on the side of buildings under construction, it merely said “Hey ChatGPT, finish this!”.
Find jobs they cannot automate and massage therapist is a great one. best of luck for the future from a random internet stranger.
I barely have enough money to make a trip into town, much less buy anything. I squat in the woods eating fish and potatoes and tinkering with the scavenged infrastructure that supports me. It’s actually pretty dope lol
In the provinces of the Philippines, electricity and diesel prices are hitting hard. Add to that a bad rice harvest and an expected drought which will make the next one worse, and things get bad. For me personally I am working a remote position from the us, so I am earning dollars which are worth more an more pesos each week. We try to take care of people where we can but too many people struggling will lead to instability and safety issues
You have Trump to thank for the bad rice harvest too, because a good chunk of that Middle East petroleum that is blocked because of the war that he started would have to making fertilizer.
If you think it’s bad now, wait until next year’s rice harvest…
Its because of the el nino, heavy rains beat up the rice for this harvest, and they expect a severe drought for the next harvest (we have two per year). We can blame trump for the diesel prices and the electricity price but not for the rice harvest.
The positive of this is that we are switching to solar at an unbelievable pace and I think this islands will be solar powered for the most part in 5-10 years. Yes, it’s all Chinese imported, but at this time it is better to partner with the Chinese to import solar panels than with the Americans to import diesel
It’s ok not great I guess? There is a growing disconnect between prices of goods, and wages. Rents and house prices being the biggest example but also electricity, food, gas (I don’t drive much but the gas price shows up in other things like food)
well to put it nicely in egypt we are doing bad and probably failing because the
PresidentDictator is just not wanting democracy and is just bad at his jobI personally live in survival mode.
I hope these people will stop believe narratives of oligarchs backend politicians and stop to blindly trust politicians. Israel annually receive at least 3.5 billion dollar of aid from the USA ever year, while millions of american doesnt have proper life standard and basic healthcare insurance.
While oligarchs and upper-classes get more rich, middle class is eliminating, but if you listen their narratives, they will say GDP and economy is growing. Yes, it grows but only for the oligarchs and rich class.
Sketchy, UK, Southern, think below London and on the Sea.
I’m a carpenter and have someone with a masters in environmental science working for me as a labourer.
Many of my construction friends are being called by there office friends for jobs.
Supermarkets are struggling because there aren’t enough people buying groceries.
