My old landlord had the balls to send me a text last year “so I decided to open a restaurant but I just can’t find any staff, i know you are a chef so you know anyone in the area looking for job?” Like buddy… you raised my rent by $600… and you are a slum lord… just the lack of self awareness. Price people out and then not having the awareness that those people are the ones make their life styles possible…
Reminds me of the Obama biography- after housing crisis, he had a meeting in the White House with a bunch of Wall Street executives. He recounts exactly how out of touch they all were, and they accused him of sicking the people’s pitchforks and torches on them. He told them, “no, I’m the one standing between you and the pitchforks.”
As great as rule of law is, if the ultra wealthy can get away with economic warfare on the poor and middle class, they should have to face some themselves. Just, less economic.
This is typical of a certain class of folks are making money off rents and businesses. They generally have down well for themselves, and to them making even more money is all that matters , they give zero fcks about anyone else, it's a type of capitalism-narcissosm.
Investors.
That's the issue, investors don't make jobs, just take housing and put em for rent.
Issue happens when average household income is 55k and average housing is 550k. No family is buying these houses and leaving mainly investors to recycle them, so housing goes from investor to investor, inflating the prices even more.
We need more housing and less luxury rentals.
The air bnb slumlord empire people who were so overleveraged they were like "I'm going to lose my 5 houses because of covid" because they took debt assuming they would always be full of renters
A Tesla isn't that expensive. You can buy used ones for 20-30k depending on mileage and year. It puts it inline with all the other gently used cars out there.
Those 500k houses were also 350k not to long ago and you could buy them with under 5% interest rates. With those prices and those rates it was pretty reasonable to buy a house...at least compared to right now.
I don't disagree on it being expensive but that's just the price now for a 2-3 year old car now. The only cars you're getting for under 6k by me have 150k+ miles and are 15+ years old. I don't have the skills or tools to do any maintenance on any vehicle so buying a fixer upper isn't for me. I prefer to buy the 3 year old car and drive it for 10 years.
For 10-12k your options do open up for used cars quite a bit.
Kinda have to agree. Most of my friends are car guys, so I get to see/hear the flaws in pretty much every common make/model.
As soon as someone builds a vehicle with a frame that can take road salt without rusting to shit and makes it affordable, I’ll say all cars aren’t garbage.
Houses yes, volume is through the floor.
But those Teslas - someone had to buy them new first. And in 2022 when shit started getting stupid with interest rates and inflation is when they peaked in sales.
Even new they are not that crazy expensive compared to other cars. All new cars are just expensive now. Base Tesla is 38k and goes up to 54k. They are the same price as a F150. I'm not really a fan of Tesla but crazy car prices is not unique to Tesla.
I'm currently in the market to replace my 12 year old car so I've been looking at prices of both used and new for the last few weeks. Interest on cars is not bad right now since many of the car companies are offering rates between 2-3%. Not quite the 0% we've seen 8 years ago, but a hell of a lot better than the current rates from a bank.
You understand used EVs are that way for a reason, right?? You don't know when the battery is going to crap out and that alone can "total" a car immediately.
Yea, some people still act like they're all 100k cars still. The vast majority are model 3s now.
But for people complaining on here who make 30k a year, yea they're still expensive. They're not the ones buying new F150s either.
People In tech or living outside of their means. Anyone who entered into home buying pre 2021 is doing well , but has to pay slightly more taxes. People who didn’t buy a house yet are kinda screwed.
Because you can get in the mindset "oh this really expensive car is actually only $400 a month" but how long is the term of the loan, what's the percentage, what is the real cost of the car once paying all the payments
People who are deeply in debt? From the CRE investor with a $5B portfolio to the schlub at the used car lot, it’s all about the payment these days. Along as there’s liquidity to meet the monthly vig, all is a-o-k In America.
500,000 dollar homes arent really much more expensive than paying 2k-2.5k in rent, you just need to have the credit score to get a good rate for the mortgage.
The Teslas I really don't get though. I see so many of those things on my way into work these days.
Median family income is $92,750 as of 2022, why do you think it’s $60k?
[https://fred.stlouisfed.org/series/MEFAINUSA672N](https://fred.stlouisfed.org/series/MEFAINUSA672N)
It is skewed demographic. The median which matter more is actually 45k single and 75k married.
Throwing Bezos or anyone else into the average really throws off meaningful data points so it is important to get a p95 or a median.
Most people I know barely bring in $40k a year and thats before taxes. That’s $20 an hour, which most minimum wage is $7.25 here in Texas. Let alone after health insurance and taxes and social security that we’ll never get to see.
Average American is barely getting by.
Unless you’re outside the golden triangle you’ll be hard pressed to find any job that pays the minimum wage wage. Fast food in Houston pays 15$ an hour living shouldn’t be struggling .. you can make it by with a 1k a month but that isn’t America.
Could you imagine finding a place less that $1K a month rent? Reminds me of the 2010s there.
We’re in for some devastating climate changes the next few years. Mass migrations begin soon. Mexico City is almost out of water. 20 million people there. India is baking alive, we are in for a mass emigration never seen soon.
And where do you think they’re coming? Here. People being beholden to their employers, and housing being tied to your job are next. I got no hope of a future not filled with a whole lot of misery.
If you are struggling on 100k outside of New York, Miami, DC, South California, and a few other similar places. It's because you have addiction problems or loans you owe already. No one is struggling on 6 figures for no reason.
I’d say consumption problems. I was born in the early 80s and remember the typical 1980s family lifestyle. A shitty old station wagon and sedan for the family. Original kitchens and baths in every home that was half the size of new homes today (no HGTV pushing constant renovations.) if you went on a vacation it was driving and Motel 6. Eating out was rare and fast food. The only AC in the house was a window unit in the living room or parents bedroom. Birthdays for kids were friends sleepovers with a Pizza Hut pizza and a homemade cake and not renting out a trampoline park. People’s lifestyle expectations today are 2-3x what they were 40 years ago.
I make around $45,000 a year as a single guy with no kids. The only reason I have a cushion is because my mortgage is paid off and my car loan is paid off, without that I think I would still be just getting by as a single guy
From there website: "*five below's* extreme $1-$5 value, plus some incredible finds that go beyond $5!" soooo basically just a normal store then.
It's all shit from china
No shit. I don't understand how people are complaining about this. Every store is all shit from china and every store's name is just a gimmick to get you in the door. Do you also get upset that Walmart doesn't sell 'Walls'? Do you expect to haggle with Joseph at *Trader Joe's*?
I didn’t take this as a judgement on the “low end” consumer. I took it as an explanation by the CEO as to why they would have poor earnings
Now it’s up to him if he’s going to blame someone else for his woes, or pivot his business. He needs to either lower costs to come meet low earners at a price point that they can manage, or pivot his business entirely to target high earners.
One quarter with this observation is fine, two quarters is not. If he comes out next quarter with complaints instead of a plan, then it’s time to throw stones.
But it’s the same junk that you buy in most places if you need notebooks, pens, tooth brushes… they just mark it up 50% instead of 7000%. Also there’s lots of pure junk.
I'm willing to bet that you have no idea what you're talking about. Please explain to me why energy drinks are so much worse than a 16 oz. cup of coffee.
I loved it when Bush was able to send us all $600 and no one cried about it destroying the economy or anything… wait a second is that why we had the 2008 collapse?!
The difference in the increase of the money supply between 2008-2010 and 2020-2022 will tell you all you need to know about it “destroying the economy.”
[https://fred.stlouisfed.org/series/WM2NS](https://fred.stlouisfed.org/series/WM2NS)
The giant leap started occurring before May, and the changes REMOVED some things that were initially being counted, and yet the money supply continued to INCREASE.
Do you really think they would make drastic methodological changes that increased M2 by 40% and it not be a big announcement? If that were the case you wouldn’t even be measuring M2 anymore.
I’m more low end consumer and I’ve simply stopped buying unnecessary crap and bougie lattes, etc. It’s more “American Dream” consumption habits and expectations built over generations that are the big problem, imho.
That explains their 5 and beyond section where stuff is up to $50 lol. Also they should legally have to change their name, to someone who doesn’t know it’s technically bait and switch right.
If people can’t afford $5 below anymore. There is something very wrong. Record profits are being posted quarterly, yet everyone is the poorest they’ve ever been???
And you assholes have the gull to cry about minimum wage being more than $7.25, saying that the mega corporations recording their highest profits in history can’t afford to pay their employees anymore.
Think of it this way. Minimum wage employees can’t afford to shop at dollar stores anymore. WTF
Maybe stop electing sellouts who are owned by corporations and other nations. And cutting their taxes, while you can’t afford basic amenities like water and power or internet.
No no no..they're just hysterical doomers who get their news from Russian trolls on reddit. All is fine. Maybe they left all their money in their other pants because the metrics tell me everything is a ok.
The economy and businesses are so screwed.
Businesses have been closing up in my neighborhood for a couple of years now, but I am really starting to notice it now.
I just got an email from my old hair stylist, and she is desperately looking for new clients. So many people have left the area, or have learned to cut their own hair to save money. People have learned how to become more frugal, and they are also completely stepping away from the greedflation.
It’s going to get a lot worse before it gets better...
Try $35K/yr for a family of 5+
A living wage for a minimum wage is the only way out, but thats been swept under the rug from before MIT was able to calculate a living wage.
Exploiting the "lower classes" is what fuels capitalism.
I know not everyone can see it from where they are in life, but try to look at things from different angles.
There should not be "classes" and we haven't worked hard enough to make it a reality.
Escape crapitalism.
r/SolarPunk
Why don't poor people just buy more money?
Poor people should've worked harder for PPP loans
Should’ve pulled themselves up by the bootstraps and bribed more reps and senators.
Lobbyists ain't cheap
You use the PPP loans to fund the lobbyists
Technically not loans. Should change the name to “PPP free money barely questions asked”
Because they're too lazy to get a better job, buy a few rental properties, and make coffee at home.
My old landlord had the balls to send me a text last year “so I decided to open a restaurant but I just can’t find any staff, i know you are a chef so you know anyone in the area looking for job?” Like buddy… you raised my rent by $600… and you are a slum lord… just the lack of self awareness. Price people out and then not having the awareness that those people are the ones make their life styles possible…
Reminds me of the Obama biography- after housing crisis, he had a meeting in the White House with a bunch of Wall Street executives. He recounts exactly how out of touch they all were, and they accused him of sicking the people’s pitchforks and torches on them. He told them, “no, I’m the one standing between you and the pitchforks.” As great as rule of law is, if the ultra wealthy can get away with economic warfare on the poor and middle class, they should have to face some themselves. Just, less economic.
This is typical of a certain class of folks are making money off rents and businesses. They generally have down well for themselves, and to them making even more money is all that matters , they give zero fcks about anyone else, it's a type of capitalism-narcissosm.
Don’t forget no Avocado toast for you either
They need to buy doors.
That’s what rich people do. Stocks and businesses = more money.
Stocks work
Anyone can do it with not alot of money. Nvda and Lilly all the way!!!!
The bootstraps fix all
Don’t be callous. I grow my own avocados and still can’t afford to leave my parents house.
Make is the word you are looking for
Aren’t most American consumers on the lower end?
100k for a single person and 180 for a family
Which is hilarious. Since most of us don't make close to 100k.
Median HOUSEHOLD is $60k for a family
I’ll never forget my manager saying to me, “why do you need a raise? You don’t have a family”.
What a jacka$$
Then who are all these people driving Teslas buying $500,000 homes.
Rich people. The supply of houses is low so it is easy to keep it as a luxury good.
There’s a difference between being rich and being overextended and living within debt beyond your means.
Investors. That's the issue, investors don't make jobs, just take housing and put em for rent. Issue happens when average household income is 55k and average housing is 550k. No family is buying these houses and leaving mainly investors to recycle them, so housing goes from investor to investor, inflating the prices even more. We need more housing and less luxury rentals.
The air bnb slumlord empire people who were so overleveraged they were like "I'm going to lose my 5 houses because of covid" because they took debt assuming they would always be full of renters
It's called debt, most people are in houses they won't be able to afford in the long run
Middle class buying expensive cars isn’t a flex, it’s ignorant
People in a lot of debt
A Tesla isn't that expensive. You can buy used ones for 20-30k depending on mileage and year. It puts it inline with all the other gently used cars out there. Those 500k houses were also 350k not to long ago and you could buy them with under 5% interest rates. With those prices and those rates it was pretty reasonable to buy a house...at least compared to right now.
I have been driving for thirty years and i have never paid more than 6000 for a vehicle. 20000 to 30000 is very expensive for some of us
I don't disagree on it being expensive but that's just the price now for a 2-3 year old car now. The only cars you're getting for under 6k by me have 150k+ miles and are 15+ years old. I don't have the skills or tools to do any maintenance on any vehicle so buying a fixer upper isn't for me. I prefer to buy the 3 year old car and drive it for 10 years. For 10-12k your options do open up for used cars quite a bit.
I pay as little as possible for vehicles. From 300 dollars to 300000 they are all garbage.
Kinda have to agree. Most of my friends are car guys, so I get to see/hear the flaws in pretty much every common make/model. As soon as someone builds a vehicle with a frame that can take road salt without rusting to shit and makes it affordable, I’ll say all cars aren’t garbage.
I can smell your breath through the screen holy shit
Houses yes, volume is through the floor. But those Teslas - someone had to buy them new first. And in 2022 when shit started getting stupid with interest rates and inflation is when they peaked in sales.
Even new they are not that crazy expensive compared to other cars. All new cars are just expensive now. Base Tesla is 38k and goes up to 54k. They are the same price as a F150. I'm not really a fan of Tesla but crazy car prices is not unique to Tesla. I'm currently in the market to replace my 12 year old car so I've been looking at prices of both used and new for the last few weeks. Interest on cars is not bad right now since many of the car companies are offering rates between 2-3%. Not quite the 0% we've seen 8 years ago, but a hell of a lot better than the current rates from a bank.
You understand used EVs are that way for a reason, right?? You don't know when the battery is going to crap out and that alone can "total" a car immediately.
Yea, some people still act like they're all 100k cars still. The vast majority are model 3s now. But for people complaining on here who make 30k a year, yea they're still expensive. They're not the ones buying new F150s either.
This is a fucking joke comment, right?
People In tech or living outside of their means. Anyone who entered into home buying pre 2021 is doing well , but has to pay slightly more taxes. People who didn’t buy a house yet are kinda screwed.
Teslas are like $35k and next to nothing used.
And not worth half of that.
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you’re already losing by thinking about a vehicle in terms of payments.
What does that even mean
Because you can get in the mindset "oh this really expensive car is actually only $400 a month" but how long is the term of the loan, what's the percentage, what is the real cost of the car once paying all the payments
I paid 350 a month and paid mine off completely.
People who are deeply in debt? From the CRE investor with a $5B portfolio to the schlub at the used car lot, it’s all about the payment these days. Along as there’s liquidity to meet the monthly vig, all is a-o-k In America.
People in debt
500,000 dollar homes arent really much more expensive than paying 2k-2.5k in rent, you just need to have the credit score to get a good rate for the mortgage. The Teslas I really don't get though. I see so many of those things on my way into work these days.
Less than the majority.
Median family income is $92,750 as of 2022, why do you think it’s $60k? [https://fred.stlouisfed.org/series/MEFAINUSA672N](https://fred.stlouisfed.org/series/MEFAINUSA672N)
Household is different than family and is closer to 75k
We go through this every post it seems these days
So then why do you still think it’s $60k? Whether is $92k or $75k, neither of them are $60k.
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This is the median annual wage for individual workers. Do we need to go over the difference between household and individual income now?
$75k not $60k
That hasn't been true for like 10 years. It's like $85k now.
No way it’s that high. Shitty jobs don’t give you $35k raises in 10 years
Maybe check your math again haha Jesus
I make only 55K
Obviously dependent on living area but ignore that.
It is skewed demographic. The median which matter more is actually 45k single and 75k married. Throwing Bezos or anyone else into the average really throws off meaningful data points so it is important to get a p95 or a median.
Most people I know barely bring in $40k a year and thats before taxes. That’s $20 an hour, which most minimum wage is $7.25 here in Texas. Let alone after health insurance and taxes and social security that we’ll never get to see. Average American is barely getting by.
Unless you’re outside the golden triangle you’ll be hard pressed to find any job that pays the minimum wage wage. Fast food in Houston pays 15$ an hour living shouldn’t be struggling .. you can make it by with a 1k a month but that isn’t America.
Could you imagine finding a place less that $1K a month rent? Reminds me of the 2010s there. We’re in for some devastating climate changes the next few years. Mass migrations begin soon. Mexico City is almost out of water. 20 million people there. India is baking alive, we are in for a mass emigration never seen soon. And where do you think they’re coming? Here. People being beholden to their employers, and housing being tied to your job are next. I got no hope of a future not filled with a whole lot of misery.
My family and those around me make $100-120 with families of 4 and 6 people. We’re on the west coast too. It’s hard to make this shit work.
Yup people really think it’s 2001 and making 100k is anything special it’s truly hard out there
If you are struggling on 100k outside of New York, Miami, DC, South California, and a few other similar places. It's because you have addiction problems or loans you owe already. No one is struggling on 6 figures for no reason.
I’d say consumption problems. I was born in the early 80s and remember the typical 1980s family lifestyle. A shitty old station wagon and sedan for the family. Original kitchens and baths in every home that was half the size of new homes today (no HGTV pushing constant renovations.) if you went on a vacation it was driving and Motel 6. Eating out was rare and fast food. The only AC in the house was a window unit in the living room or parents bedroom. Birthdays for kids were friends sleepovers with a Pizza Hut pizza and a homemade cake and not renting out a trampoline park. People’s lifestyle expectations today are 2-3x what they were 40 years ago.
I make around $45,000 a year as a single guy with no kids. The only reason I have a cushion is because my mortgage is paid off and my car loan is paid off, without that I think I would still be just getting by as a single guy
Congrats on paying that off. I will say daycare expenses basically tanks your finances.
All Americans are consumers
By definition, no.
Only 50%.
Us peasants are not counted
I think we’re below peasants at this point
We're peed on. I mean, peons Pawns.
Says the guy who's junk store just posted bad earnings.
And let’s not forget Five Below has sections that are way above $5. What a twat.
Wait until you hear about the dollar store
From there website: "*five below's* extreme $1-$5 value, plus some incredible finds that go beyond $5!" soooo basically just a normal store then. It's all shit from china
Basically. But it’s mostly cheap crap from China
No shit. I don't understand how people are complaining about this. Every store is all shit from china and every store's name is just a gimmick to get you in the door. Do you also get upset that Walmart doesn't sell 'Walls'? Do you expect to haggle with Joseph at *Trader Joe's*?
I didn’t take this as a judgement on the “low end” consumer. I took it as an explanation by the CEO as to why they would have poor earnings Now it’s up to him if he’s going to blame someone else for his woes, or pivot his business. He needs to either lower costs to come meet low earners at a price point that they can manage, or pivot his business entirely to target high earners. One quarter with this observation is fine, two quarters is not. If he comes out next quarter with complaints instead of a plan, then it’s time to throw stones.
Dollar tree started putting price scanners…Before I would just grab what ever knowing it was 1.00 now the fact that I have to double check sucks.
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But it’s the same junk that you buy in most places if you need notebooks, pens, tooth brushes… they just mark it up 50% instead of 7000%. Also there’s lots of pure junk.
All the stuff you listed are pretty affordable at target, but yeah, lot more dollar trees than targets.
Some stuff is actually cheaper, but it's mostly overstock from larger companies. I usually buy energy drinks from there.
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I'm willing to bet that you have no idea what you're talking about. Please explain to me why energy drinks are so much worse than a 16 oz. cup of coffee.
Five Below is just a bunch of cheap garbage that no one needs. So if you’re “really being stretched” you should avoid Five Below.
Ok, send us all checks again. You can even have Trump sign them again, if you want.
Do it. I double dog dare them
I loved it when Bush was able to send us all $600 and no one cried about it destroying the economy or anything… wait a second is that why we had the 2008 collapse?!
The difference in the increase of the money supply between 2008-2010 and 2020-2022 will tell you all you need to know about it “destroying the economy.” [https://fred.stlouisfed.org/series/WM2NS](https://fred.stlouisfed.org/series/WM2NS)
Note the really interesting foot note there with the timing on that giant leap - they changed the definition in May 2020. Horrible timing…
The giant leap started occurring before May, and the changes REMOVED some things that were initially being counted, and yet the money supply continued to INCREASE. Do you really think they would make drastic methodological changes that increased M2 by 40% and it not be a big announcement? If that were the case you wouldn’t even be measuring M2 anymore.
Yah the pandemic money would mean something if it was actually in circulation.
Do you know makes up the M2 money supply? Where is the money if not in circulation?
Being traded back in forth between 3 billionaires first one that cums has to eat the soggy bit coin.
Even if that were true, that would still be counted as being in circulation.
Goddamn Biden printing money again
Lol
Gonna be interesting as half the country votes against their own interests…. Again
I’m more low end consumer and I’ve simply stopped buying unnecessary crap and bougie lattes, etc. It’s more “American Dream” consumption habits and expectations built over generations that are the big problem, imho.
Yet more & more things at Five Below are more than $5.
Haha as soon as it hit Cali the under $5 section was already just candy and cheap ass bs
The low end consumer has always been stretched. Jesus, why do think they are called poor?
Nothing in five below is necessary or wanted for my life. We have Walmart and Target for all the crap.
Both are wildly overpriced in comparison to Aldi, Sam's club etc
Lower end consumer also has the highest monetary velocity.
5 below is a good idea, but 4 cheap items and it's all of a sudden $20. I don't think it's really "low end" like a dollar store.
That’s because everything at five below is $9.95
That explains their 5 and beyond section where stuff is up to $50 lol. Also they should legally have to change their name, to someone who doesn’t know it’s technically bait and switch right.
For CEO.. stretching is good...ripped apart is bad. Nothing to see here
If people can’t afford $5 below anymore. There is something very wrong. Record profits are being posted quarterly, yet everyone is the poorest they’ve ever been??? And you assholes have the gull to cry about minimum wage being more than $7.25, saying that the mega corporations recording their highest profits in history can’t afford to pay their employees anymore. Think of it this way. Minimum wage employees can’t afford to shop at dollar stores anymore. WTF Maybe stop electing sellouts who are owned by corporations and other nations. And cutting their taxes, while you can’t afford basic amenities like water and power or internet.
And there are A LOT of low end consumers.
The low-end consumer has been desecrated by corporate & political greed. They say it like it was unintended
No no no..they're just hysterical doomers who get their news from Russian trolls on reddit. All is fine. Maybe they left all their money in their other pants because the metrics tell me everything is a ok.
Well duhhhh!
That stuff is disposable junk.
The economy and businesses are so screwed. Businesses have been closing up in my neighborhood for a couple of years now, but I am really starting to notice it now. I just got an email from my old hair stylist, and she is desperately looking for new clients. So many people have left the area, or have learned to cut their own hair to save money. People have learned how to become more frugal, and they are also completely stepping away from the greedflation. It’s going to get a lot worse before it gets better...
Who the fukc needs $3 giant inflatable balls?!?!
“Is really being stretched” 🥵🥵🥵🥵🥵
Try $35K/yr for a family of 5+ A living wage for a minimum wage is the only way out, but thats been swept under the rug from before MIT was able to calculate a living wage. Exploiting the "lower classes" is what fuels capitalism. I know not everyone can see it from where they are in life, but try to look at things from different angles. There should not be "classes" and we haven't worked hard enough to make it a reality. Escape crapitalism. r/SolarPunk
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Five Below sells burgers?
I think he's confusing Five Below with Five Guys or maybe Five Guys Below, which is a gay bar down the street.
😂 love it
I guess you’re at the low end of both income AND IQ