ADMIT IT -- You are just $400 away from personal financial ruin -- the FED said so. Post your reaction here.

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ADMIT IT -- You are just $400 away from personal financial ruin -- the FED said so. Post your reaction here.
Anonymous Coward User ID: 58032917 United States 09/22/2014 02:14 PM Report Abusive Post Report Copyright Violation	ADMIT IT -- You are just $400 away from personal financial ruin -- the FED said so. Post your reaction here. The majority of U.S. families could not even handle an unanticipated expense as small as $400, Federal Reserve Chair Janet Yellen says a new Federal Reserve survey has revealed. Those families would need to sell something, borrow or not pay, she said. But the SCF shows that the wealth gap continues to grow. The share of wealth belonging to the richest 3 percent of Americans was: 44.8 percent in 1989. 51.8 percent in 2007. 54.4 percent in 2013. Read the details here: [link to money.msn.com]

CanadaIn NIC User ID: 62557003 Nicaragua 09/22/2014 02:47 PM Report Abusive Post Report Copyright Violation	Re: ADMIT IT -- You are just $400 away from personal financial ruin -- the FED said so. Post your reaction here. An "unexpected" expense of $400, yeah it would hurt. I have some expected expenses coming up I'm still saving for... Sad state of affairs when you think about it.. "Carpe Diem"
Anonymous Coward User ID: 23179271 United States 09/22/2014 02:48 PM Report Abusive Post Report Copyright Violation	Re: ADMIT IT -- You are just $400 away from personal financial ruin -- the FED said so. Post your reaction here. $400. fuck I would LOVE $400. bucks right about now
Anonymous Coward (OP) User ID: 58032917 United States 09/22/2014 02:52 PM Report Abusive Post Report Copyright Violation	Re: ADMIT IT -- You are just $400 away from personal financial ruin -- the FED said so. Post your reaction here. We are wildly out of balance.

Anonymous Coward User ID: 62330280 United States 09/22/2014 02:53 PM Report Abusive Post Report Copyright Violation	Re: ADMIT IT -- You are just $400 away from personal financial ruin -- the FED said so. Post your reaction here. They should start everyone a $400 savings/investment account. Tax deferred of course. Only allowed to be redeemed in emergency circumstances. 98% would be gone the first year. Problem is, they aren't generating any income. So nothing will change. And even if they do generate an income, they'll still spend more than they make. So, we get nowhere.
Anonymous Coward User ID: 2226485 United States 09/22/2014 03:00 PM Report Abusive Post Report Copyright Violation	Re: ADMIT IT -- You are just $400 away from personal financial ruin -- the FED said so. Post your reaction here. they missed 3 zeros
Anonymous Coward (OP) User ID: 58032917 United States 09/22/2014 03:11 PM Report Abusive Post Report Copyright Violation	Re: ADMIT IT -- You are just $400 away from personal financial ruin -- the FED said so. Post your reaction here. They should start everyone a $400 savings/investment account. Tax deferred of course. Only allowed to be redeemed in emergency circumstances. 98% would be gone the first year. Problem is, they aren't generating any income. So nothing will change. And even if they do generate an income, they'll still spend more than they make. So, we get nowhere. Quoting: Anonymous Coward 62330280 Actually, how about just lowering taxes on the middle class. Let the middle class choose how to spend their money and our whole country will achieve a more efficient allocation of its resources. The middle class will pump the money back into the economy.
LindaE User ID: 36926872 United States 09/22/2014 04:54 PM Report Abusive Post Report Copyright Violation	Re: ADMIT IT -- You are just $400 away from personal financial ruin -- the FED said so. Post your reaction here. Gee, I sure hope not! This week I need to take my car in for it's regular checkup at the dealer, and as I recall, it's a larger than normal fee. I sort of expect $400 or so to be the charge, and I'd love to have $$ for food this week also. If the Feds are right, we'll have to survive on mac n cheese and lukewarm water. Not gonna happen! We're retired, so no work for cash, but we've always saved a bit, and invested a bit, and lost a bit, and made a bit back. We'll survive. But I feel sorry for the young'uns who are just starting out.
Anonymous Coward User ID: 49845998 United States 09/22/2014 05:00 PM Report Abusive Post Report Copyright Violation	Re: ADMIT IT -- You are just $400 away from personal financial ruin -- the FED said so. Post your reaction here. Nationalize the FED and let regular families, instead of banks, use the unlimited credit that we have.
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