DNC Debates, Round 2

CharminTide

Hall of Fame
Oct 23, 2005
6,924
343
98
"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

Hall of Fame
Dec 6, 2009
7,217
619
123
Thirteenessee

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

All-American
Nov 1, 2005
2,368
156
73
43
Huntsville, AL
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.
 

chanson78

All-American
Nov 1, 2005
2,368
156
73
43
Huntsville, AL
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.
 

crimsonaudio

Administrator
Staff member
Sep 9, 2002
44,855
2,046
348
crimsonaudio.net
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.
 

jthomas666

Hall of Fame
Aug 14, 2002
18,641
606
123
Birmingham & Atlanta
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.
 
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Go Bama

Hall of Fame
Dec 6, 2009
7,217
619
123
Thirteenessee
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

Hall of Fame
Oct 23, 2005
6,924
343
98
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

Hall of Fame
Aug 14, 2002
18,641
606
123
Birmingham & Atlanta
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.
 
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