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7 out of 10 Americans have less than $1000
Topic Started: 10 Oct 2016, 05:15 PM (1,867 Views)
Terry
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Seems like a common theme across the Anglo Saxon hegemony. Let's have a look at America's issue:

-----------------------------

-- Every month the St. Louis Federal Reserve releases data on personal household savings rates. In July 2016, the personal savings rate was just 5.7%. Comparatively, personal savings rates in the U.S. 50 years ago were double where they are today, and nearly all developed countries have a higher personal savings rate than the United States.

-- Last year, GoBankingRates surveyed more than 5,000 Americans only to uncover that 62% of them had less than $1,000 in savings. Last month GoBankingRates again posed the question to Americans of how much they had in their savings account, only this time it asked 7,052 people. The result? Nearly seven in 10 Americans (69%) had less than $1,000 in their savings account.

-- 34% of Americans don't have a dime in their savings account, while another 35% have less than $1,000. Of the remaining survey-takers, 11% have between $1,000 and $4,999, 4% have between $5,000 and $9,999, and 15% have more than $10,000.

-- Some 29% of adults earning more than $150,000 a year, and 44% making between $100,000 and $149,999, had less than $1,000 in savings. Comparatively, 73% of the lowest income adults (those earnings $24,999 or less annually) had less than $1,000 in their savings account.

--There was even minimal difference between multiple generations of Americans. From seniors aged 65 and up to young millennials aged 18 to 24, between 62% and 72% of Americans had less than $1,000 in a savings account.

http://www.usatoday.com/story/money/personalfinance/2016/10/09/savings-study/91083712/
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hidflect
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Terry
10 Oct 2016, 05:15 PM
Seems like a common theme across the Anglo Saxon hegemony. Let's have a look at America's issue:

-----------------------------

-- Every month the St. Louis Federal Reserve releases data on personal household savings rates. In July 2016, the personal savings rate was just 5.7%. Comparatively, personal savings rates in the U.S. 50 years ago were double where they are today, and nearly all developed countries have a higher personal savings rate than the United States.

-- Last year, GoBankingRates surveyed more than 5,000 Americans only to uncover that 62% of them had less than $1,000 in savings. Last month GoBankingRates again posed the question to Americans of how much they had in their savings account, only this time it asked 7,052 people. The result? Nearly seven in 10 Americans (69%) had less than $1,000 in their savings account.

-- 34% of Americans don't have a dime in their savings account, while another 35% have less than $1,000. Of the remaining survey-takers, 11% have between $1,000 and $4,999, 4% have between $5,000 and $9,999, and 15% have more than $10,000.

-- Some 29% of adults earning more than $150,000 a year, and 44% making between $100,000 and $149,999, had less than $1,000 in savings. Comparatively, 73% of the lowest income adults (those earnings $24,999 or less annually) had less than $1,000 in their savings account.

--There was even minimal difference between multiple generations of Americans. From seniors aged 65 and up to young millennials aged 18 to 24, between 62% and 72% of Americans had less than $1,000 in a savings account.

http://www.usatoday.com/story/money/personalfinance/2016/10/09/savings-study/91083712/
Meanwhile the finance sector has grown from 3% of the economy to 15% of the economy. Their sole function is supposed to facilitate the movement of capital between concerns in the economy but they've become a major siphon of the economy itself. As Loyd Blankfein says, "doing God's work.."

Hillary will be the last President to be captured by these rogues. The people will elect a ham sandwich before they vote in another corporatist wh0re like her. Well, they'd better.
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Rufus
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hidflect
10 Oct 2016, 05:50 PM
Meanwhile the finance sector has grown from 3% of the economy to 15% of the economy. Their sole function is supposed to facilitate the movement of capital between concerns in the economy but they've become a major siphon of the economy itself. As Loyd Blankfein says, "doing God's work.."

Hillary will be the last President to be captured by these rogues. The people will elect a ham sandwich before they vote in another corporatist wh0re like her. Well, they'd better.
Who knows what US citizens will do, most of them don't even know that nitrogen is the most abundant gas in our atmosphere.

But take the quiz and see whether we are any better.

http://www.pewresearch.org/quiz/science-knowledge-2013/
Take risks - if you win you will become wealthy, if you lose you will become wise
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Terry
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Rufus
10 Oct 2016, 06:00 PM
Who knows what US citizens will do, most of them don't even know that nitrogen is the most abundant gas in our atmosphere.

But take the quiz and see whether we are any better.

http://www.pewresearch.org/quiz/science-knowledge-2013/
Oh, I doubt you are any better.
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herbie
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Rufus
10 Oct 2016, 06:00 PM
Who knows what US citizens will do, most of them don't even know that nitrogen is the most abundant gas in our atmosphere.

But take the quiz and see whether we are any better.

http://www.pewresearch.org/quiz/science-knowledge-2013/
I got 13 out of the first 13 boss - Though it didn't tell me how I went on tha last two three: Me sex 'n me age? (plus whether I went ta skool or not) - [Sorries; I'm old 'n forgetful these days - It's called having a goldfish memory if I remember correct wot some young bloke said ta me?]

Mind you, if it had been a quiz on celebrities or economics (or even Celebrity Economists?), I reckon I'd have not done too flash ...
Edited by herbie, 10 Oct 2016, 07:42 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Rufus
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herbie
10 Oct 2016, 06:46 PM
I got 13 out of the first 13 boss - Though it didn't tell me how I went on tha last two: Me sex 'n me age?

Mind you, if it had been a quiz on celebrities or economics (or even Celebrity Economists?), I reckon I'd have not done too flash ...
Well done. Actually the questions are pretty easy for anyone with some high school science. In fact a 9 year old in our family would know them, but anyone who didn't have an interest in science could struggle even if they had a reasonable IQ. But only 20% with some knowledge of nitrogen is a bit poor.
Take risks - if you win you will become wealthy, if you lose you will become wise
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Jon Snow
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Rufus
10 Oct 2016, 06:00 PM
Who knows what US citizens will do, most of them don't even know that nitrogen is the most abundant gas in our atmosphere.

But take the quiz and see whether we are any better.

http://www.pewresearch.org/quiz/science-knowledge-2013/
Well, I got 13 out of 13.

The quiz was mostly OK. A few dubious questions.

I worry more about the 93% of people who took the test who didn't get 13 out of 13. Given that the test already has a selection bias (some percentage of the adult population would never do a quiz on Science and Technology). I would hazard a guess that if you add in the selection bias, it is probably closer to 99.9% of the adult population who wouldn't get 13 out of 13, or the answer on atmospheric gasses correct.

Speak when you are angry and you will make the best speech you will ever regret.
Ambrose Bierce
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Terry
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Jon Snow
10 Oct 2016, 07:29 PM
Well, I got 13 out of 13.

The quiz was mostly OK. A few dubious questions.

I worry more about the 93% of people who took the test who didn't get 13 out of 13. Given that the test already has a selection bias (some percentage of the adult population would never do a quiz on Science and Technology). I would hazard a guess that if you add in the selection bias, it is probably closer to 99.9% of the adult population who wouldn't get 13 out of 13, or the answer on atmospheric gasses correct.
I wouldn't be considering yourself scientifically gifted because you got 100%. I would expect that there are far more scientifically talented people in the U.S. than in Australia.
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Will
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hey might only have 1000 dollars, but what they also have a fully paid off corvette Z06?


Does that count as currency?
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Jon Snow
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Terry
10 Oct 2016, 11:12 PM
I wouldn't be considering yourself scientifically gifted because you got 100%. I would expect that there are far more scientifically talented people in the U.S. than in Australia.
On the contrary, I don't consider myself scientifically gifted, and yet I am in the top 7% of poll takers. Given the self selection of poll takers, I would place my result in the top 0.01% of the adult population. And I am not scientifically gifted. Where does that leave the rest of the population? Flailing about in the dark buying properties for riches would be my guess.

In a quiz of only 13 questions though, I imagine the scores would exhibit a LOT of noise. Given that 1/13 question is 7% .....
Speak when you are angry and you will make the best speech you will ever regret.
Ambrose Bierce
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