Because they make incredibly stupid choices in how they spend their money?
Because they make incredibly impulsive choices in how they spend their money?
“Because they make incredibly stupid choices in how they spend their money?”
Enshittification and late-stage capitalism are the main factors here. $10 toothpaste. 80k vehicles that can’t go 80k miles without a new angine and/or transmission. You can’t buy a good US sourced vehicle anymore. Streaming that actually costs more than cable. Cloud based products with feartures deliberarely behind subscriptions go inert when companies go out of business, or just decide to stop supporting them.
I am in the market for a small pickup truck for work. Base model 4x4 are over 50,000 bucks. Even ten year old Tacomas are pushing 30k.
“Because they make incredibly stupid choices in how they spend their money?”
Mass media is allowed (freedom of speech) to say wild, totally illogical things in selling merchandise. But the same freedom of speech is not allowed in selling stocks, bonds and other investments.
Our society is structured steer consumers to consume transitory products, but not investment products.
Because they make incredibly stupid choices in how they spend their money?..................
You win the giant teddy bear. There is a family in our community who are earning about $80,000 a year yet are behind on payments, credit cards maxed out and whining about prices. Of course, they are making payments on about 150,000 worth of aultomobiles, a not too shabby house and frequent my brother in law’s saloon.
My wife and I got debt free and live on about 60K retirement incoome. We have the money to go places, do things and buy what we want but there are no CC balances carried over and money still goes to savings/investment each month. In the last 6 months, our grocery bill has DECREASED by about $50 a week and we eat well.