50% of Americans Couldn't Come Up with $2000

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Originally Posted by Pete Zicato

...but it's also the fact that many (most?) American families did not save while the economy was good.

That could very well be "could not afford to save, even when the economy was good."


I'm always amused by the number of people who are not aware that everyone is not as well off as they are. A huge slice of America saves nothing each week, because they have nothing to put in the bank. They drive POS cars that need work all the time, because they can't afford a better car. And they bought that POS because they couldn't afford a car in better mechanical shape. They can't fix everything on the car because they have to feed themselves, their kids, their family, pay the electric bill, pay rent because they can't afford to buy.

And why must it be assumed that these people's credit cards are "all maxed out"? The people you are talking about do not have credit cards, because they can't afford the minimum monthly payments. That's right, some of these people don't have $20 left at the end of the month to pay on a credit card balance.

How are legal expenses an emergency?

Now, as you were.