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The Eminence Front of The "Middle Class"

Discussion in 'The Okie Corral' started by Restless28, Feb 7, 2013.

  1. Restless28

    Restless28

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    I've had some interesting conversations with some folks who are in the "middle class". These people have vehicles financed for more than my home is worth, boats and ATV's, zero turn mowers, and large homes that are easily 5 to 10 times their gross income. They are faking "living large." It's an eminence front. (It's a put on)

    Several work in the defense industry in Huntsville. If sequestration comes, the pain is going to be rough.

    Those who don't work in the industry, and earn less, live just as large.

    I have a feeling that the bursting of the bubble or a balck swan event will cause a shift in class structure. These middle class folks won't be able to maintain the status quo.

    I imagine this scenario exists in every community in America.
     
  2. Cali-Glock

    Cali-Glock Mountain Man

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    Yeah and your local welfare mom is driving a $50k suv with $20k in rims and tires and another $5k in aftermarket stereo crap and lives in a government subsidized apartment.

    Borrowing too much and living beyond your means has sadly become the brainwashed-so-called-American way.

    What a change 50 years makes. In my youth my friends parents who were professionals (Drs, Lawyers, Engineers) or successful blue collar business owners lived in cheap or modest track homes, drove modest cars, purchased their clothes at Sears, took car-camping vacations in the station wagon and saved money for for a rainy day, retirement and possibly the kid's college fund.
     
    Last edited: Feb 7, 2013

  3. OGW

    OGW NRA, SAF

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    It does. I've seen a few of them crash and burn over the years.
     
  4. PaulMason

    PaulMason

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    The middle class has been getting hammered for decades. Since the 70s the middle class has lost pensions, health benefits, wages haven't kept up with inflation and jobs have been sent overseas. What is called middle class now - was lower middle class in the 60s/70s
     
    Last edited: Feb 7, 2013
  5. OGW

    OGW NRA, SAF

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    So true. I'd say that the ease of buying big items on credit (without sufficient financial backing for said credit) and the inability of people to delay gratification are largely responsible. I grew up knowing that if I wanted something, I had to "save up" for it. That hasn't been a common approach for many years.
     
  6. Restless28

    Restless28

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    They have also done it to themselves. They are not innocent.
     
  7. Restless28

    Restless28

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    Yep. Debt makes America run.
     
  8. PaulMason

    PaulMason

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    How so?
     
  9. Restless28

    Restless28

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    Seriously? Look around.
     
  10. Fear Night

    Fear Night NRA Life Member

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    The average American's budget looks similar to the US Government's budget. Coincidence?
     
  11. LEO/Dad

    LEO/Dad Navy Veteran

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    I don't think young people are being taught this by their parents, especially if the parents aren't thrifty themselves. This includes budgeting and living within your means. I was listening to Dave Ramsey yesterday, and a mother called in upset with her son for borrowing a good amount of money for his New Years Eve. date!! Dave couldn't believe it, and laughed for a considerable amount of time. I am retired, but I know a good amount of people that are living paycheck to paycheck, both parents working. In most cases, it is by choice, just because of all the toy payments they must make. I was really surprised last summer when my local boat dealer owner told me that people were taking out Home Equity Loans to buy boats!! Really, putting your home at risk for a freakin boat. We are dealing with a culture of people today that are off the charts. Most probably voted for Obama.
     
  12. PaulMason

    PaulMason

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    You said they did it to themselves. I was asking how. I don't understand what you were saying.
     
  13. Gallium

    Gallium CLM

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    I don't know what class I am in, but the only debts I have are taxes (property tax) and a mortgage. If I didn't pay for the car it probably is not going to make it in my driveway - ditto for furniture/etc.

    One of the kids' college education is partially financed, but that was his doing and choice.

    The only other thing I plan on financing is a family plot for 6-10 graves. The momz are not getting any younger. :sad:
     
  14. OGW

    OGW NRA, SAF

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    How do you figure global competition works?
     
  15. Rabbi

    Rabbi The Bombdiggity Lifetime Member

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    Utter BS.

    You take a cop married to a nurse(or just about any 40-60K a year couple) in a medium to large city...without getting over their head, they are living the lifestyle that used to be UPPER middle class in the 60s and 70's.

    People live better now. The POOR in this country live the life that blue collar folks used to live.
     
  16. PaulMason

    PaulMason

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    True - but in the 60s and 70's it only took one wage earner to do that; now two as you say.



    Do your homework - research 1960s to now

    Percent of workers covered by defined pension plans

    percent of workers provided with health benefits

    wages & inflation
     
    Last edited: Feb 7, 2013
  17. RC-RAMIE

    RC-RAMIE

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    I'm in sales in La, I could count the sales to Obama voters on one hand. Bad money decisions are made by left and right voters.


    Posted using Outdoor Hub Campfire
     
    Last edited: Feb 7, 2013
  18. Dennis in MA

    Dennis in MA Get off my lawn

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    Bullbutter! See below. Completely patently false.


    As I said yesterday in a different thread, we all have affordable toys that NO ONE had in the 60's and 70's. How many TV's does the average house have? How many vacations that AREN'T camping at $3/night? Home in the 'burbs with 1.2acres of land and 2,000 sf of living area? Latest/greatest toys and activities for Jr? All this cost money. We didn't trade lower anything for that. We traded an at-home mom for livin large, yo.

    Couple that with the skyrocketing divorce rate and the need for 1.5 households per "baby-makers" and you HAVE to have them work. Staying married is cheaper than getting divorced.


    The bottom line is this: The original post is an anecdotal story, not statistical fact. Statistical fact is debt is FALLING in this country as people get MORE responsible. Just look it up. Of course, it trumps the "this country going to hell handbasket yada yada" so you have to find something else to grouse about.
     
  19. DanaT

    DanaT Pharaoh

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    [​IMG]

    Household debt is falling the last couple of years only because of recession and inability to get loans. Look at the trend over the last 30 years and explain the trend based upon you statement.
     
  20. schild

    schild

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    A cop and a nurse here would make 120k+.