DNC Debates, Round 2

[CharminTide]

"Immigrants are essentially not human, so complaints of human right violations at the border are not especially meaningful."

Just focus testing to see if this still sounds absurd in other contexts.

 

[Go Bama]

https://twitter.com/abc/status/1145747419264503808


You can't divide by zero. Checkmate Brothers of Bernard.

or

Admitting modern leftist class analysis is basically correct to own da libs

The math doesn’t work for me.

$248,500,000,000 / 160,000,000 = $1,553.13

I’m having a hard time believing half the population has a net worth that small.

i just noticed my iPad keyboard doesn’t have a “divided by key.”

 

[chanson78]

The math doesn’t work for me.

$248,500,000,000 / 160,000,000 = $1,553.13

I’m having a hard time believing half the population has a net worth that small.

i just noticed my iPad keyboard doesn’t have a “divided by key.”

Average bank balance of American family 2019

Don't forget many in American don't have bank accounts so this is only for people who actually have bank accounts.

 

[TIDE-HSV]

Average bank balance of American family 2019

Don't forget many in American don't have bank accounts so this is only for people who actually have bank accounts.

I hate to quibble, but by "average," they intend the "arithmetic mean." It would be more descriptive if they described it as "mean." The "mean," "median," and "mode" are all averages...

 

[Go Bama]

Average bank balance of American family 2019

Don't forget many in American don't have bank accounts so this is only for people who actually have bank accounts.

Surely you don’t think Buffet, Gates, and Bezos have $248,500,000,000 in their bank accounts. I’m assuming this is their net worth.

 

[chanson78]

I hate to quibble, but by "average," they intend the "arithmetic mean." It would be more descriptive if they described it as "mean." The "mean," "median," and "mode" are all averages...

I think that is fair. My main goal was just to put some numbers to what people at various income levels have in the bank.

When you couple that with the fact that 78% of workers live paycheck to paycheck, it makes it difficult to build up that net worth.

 

[chanson78]

Surely you don’t think Buffet, Gates, and Bezos have $248,500,000,000 in their bank accounts. I’m assuming this is their net worth.

That too is fair. When you consider that only 62% of Americans are home owners, 51.9% of Americans own stock, there aren't many other locations to store net wealth other than bank accounts.

 

[crimsonaudio]

The math doesn’t work for me.

$248,500,000,000 / 160,000,000 = $1,553.13

I’m having a hard time believing half the population has a net worth that small.

i just noticed my iPad keyboard doesn’t have a “divided by key.”

Last number I saw had roughly 1/3 of the US population with a negative overall net worth.

 

[CharminTide]

Last number I saw had roughly 1/3 of the US population with a negative overall net worth.

Raises hand.

Thanks, student loans.

 

[RollTide_HTTR]

Raises hand.

Thanks, student loans.

Seconded on both accounts

 

[jthomas666]

Today I learned that despite having been laid off last month, I still have a net worth greater than some of the gainfully employed. My self-worth appreciates your support.

[several interviews pending, so prospects, as they say are good.]

But this does illustrate the need for some sort of student loan relief. Yes, I paid mine loan off all by my little lonesome, but college costs have been spiraling out of control for well over a decade (also, I only had to take out a loan for one year). Even now they're talking about a potential housing bubble because student loan debt is preventing younger people from buying their own homes.

 

[Go Bama]

Raises hand.

Thanks, student loans.

Seconded on both accounts

Every student that leaves school with a student loan has a negative net worth, otherwise they would not have been granted the loan. Did you guys get a degree? Are you calculating the value of your degree when you say you have a negative net worth? No need to answer.

The implication I took from saying the 3 billionaires have more than half the American population is that half the population is destitute. I just don’t find that to be the case. There is a difference in having a negative net worth and being refugee poor.

What would help you guys with student debt would be to remove the interest and credit any interest that’s been paid toward the principal of your loan.

 

[CharminTide]

Every student that leaves school with a student loan has a negative net worth, otherwise they would not have been granted the loan. Did you guys get a degree? Are you calculating the value of your degree when you say you have a negative net worth?

Well, you could use the same logic to say that credit card debt isn't real, because the 55" OLED you couldn't afford still has some intrinsic value.

The implication I took from saying the 3 billionaires have more than half the American population is that half the population is destitute. I just don’t find that to be the case. There is a difference in having a negative net worth and being refugee poor.

I agree that debt alone doesn't make someone destitute, so the measurement here might reflect pure numbers rather than quality of life. As long as I remain employed, my debt isn't too burdensome (other than extending my working life by eating into what would otherwise be saved for retirement). But if I lose my job anytime in the next 8-10 years, it will quickly become suffocating.

What would help you guys with student debt would be to remove the interest and credit any interest that’s been paid toward the principal of your loan.

Absolutely. This seems like the lowest hanging fruit of federal student loan reform, and I'm surprised it doesn't get talked about more.

 

[jthomas666]

As long as I remain employed, my debt isn't too burdensome (other than extending my working life by eating into what would otherwise be saved for retirement). But if I lose my job anytime in the next 8-10 years, it will quickly become suffocating.

There's the rub. Just as people without health insurance are in decent shape so long as they do not have a major health crisis, People with strong debt burdens are ok provided that they remain employed.

And trust me, you can be damned good at your job and still get laid off.

 

[Moro Creek]

You can also be really good at your job, retire, and get sucked back in part time.