I never realized just how many people dont have emergency funds
- Thread starter the13thround
- Start date
I'm with the OP on this one. I honestly don't understand how people don't have money leftover in the bank, regardless of how much you make.
foolish spending...
living beyond your means...
i was just arguing this point on an ad posting on facebook from afterpay.. niggas in gleee cause they can buy from finish line all they want and break it down into payments.
If shit hits the fan, they cant evict no damn body anyways. Courts are closed for now. Id smack the shit out of my landlord if they came to my door asking for rent and my job had been shut down over a month. Plus during emergency times, Im sure nobody can evict, repo, or any of that type of shit. Only problem is, when its all said and done, muthafuckas gonna be SO far in debt. The true killer of this virus will be economic, not health or life.
Yes, owning is better though.
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I saw a lot of this shit coming since 2017, just couldn't pin point when. Regardless, I got a raise last year and immediately started crunching numbers. I started building my reserves back up. I didn't spend the bonus my company paid out, didn't spend my tax refund and started shoveling a couple hundred into savings when I saw I could. Once that account hits it's goal, I'm going hard with investments. I prepared so I'm not scared. Then again I am single so it is easier to save.
Rent Strike 2020 (@RentStrike2020) | Twitter
The latest Tweets from Rent Strike 2020 (@RentStrike2020). Demand that state Governors work to suspend the collection of all rent, residential mortgage, & utility payments for 2 full months. Washington, DC
twitter.com
Tenant coalition demands $10B in “housing relief” in light of coronavirus
March 18, 2020 10:05AM By Georgia Kromrei
The group is also calling for the state to suspend rent, mortgage and utility payments (Credit: Housing Justive for All)
New York tenant advocates are demanding billions in funding for housing and a suspension of rent, mortgage and utility payments during the coronavirus outbreak.
The coalition, Housing Justice for All, is using a public health crisis to push its solution for the 92,000 people who are homeless across the state. The group is asking for $10 billion to invest in “housing relief,” demanding homeless persons be immediately rehoused in vacant homes, and asking for rental subsidies in the form of vouchers. The funding would also support public housing, not-for-profit housing and subsidized housing.
The group is also calling for the state to suspend rent, mortgage and utility payments, on the heels of a statewide eviction ban in place since Monday.
“An eviction moratorium is an urgent first step, but we need a suspension of unaffordable rent and automatic forgiveness of any rent or mortgage, utility, or rent owed or accumulated during the length of this crisis,” the plan reads.
The tenant coalition also seeks to block any landlord from price gouging any commercial or residential tenant who cannot pay rent, and points out that “mom-and-pop” landlords would also benefit from a mortgage suspension. The state has not said yet whether it will place a moratorium on mortgages, as it did for evictions, but sources say the Office of Court Administration is in active discussions with Gov. Andrew Cuomo’s office to do so.
It is unclear what path forward any of these measures will have. Cuomo has said he will push through a budget at the end of this week, instead of April 1st, and approving new funding for housing during a public health crisis may be difficult.
Yet the tenant coalition says the connection between health and secure housing is more evident than ever.
“Housing is healthcare,” a spokesperson for HJ4A said. “An eviction moratorium is the first step, but right now it’s critical that every New Yorker is safely housed, especially those who are currently without homes or most in danger of losing their homes due to loss of income.”
March 18, 2020 10:05AM By Georgia Kromrei
The group is also calling for the state to suspend rent, mortgage and utility payments (Credit: Housing Justive for All)
New York tenant advocates are demanding billions in funding for housing and a suspension of rent, mortgage and utility payments during the coronavirus outbreak.
The coalition, Housing Justice for All, is using a public health crisis to push its solution for the 92,000 people who are homeless across the state. The group is asking for $10 billion to invest in “housing relief,” demanding homeless persons be immediately rehoused in vacant homes, and asking for rental subsidies in the form of vouchers. The funding would also support public housing, not-for-profit housing and subsidized housing.
The group is also calling for the state to suspend rent, mortgage and utility payments, on the heels of a statewide eviction ban in place since Monday.
“An eviction moratorium is an urgent first step, but we need a suspension of unaffordable rent and automatic forgiveness of any rent or mortgage, utility, or rent owed or accumulated during the length of this crisis,” the plan reads.
The tenant coalition also seeks to block any landlord from price gouging any commercial or residential tenant who cannot pay rent, and points out that “mom-and-pop” landlords would also benefit from a mortgage suspension. The state has not said yet whether it will place a moratorium on mortgages, as it did for evictions, but sources say the Office of Court Administration is in active discussions with Gov. Andrew Cuomo’s office to do so.
It is unclear what path forward any of these measures will have. Cuomo has said he will push through a budget at the end of this week, instead of April 1st, and approving new funding for housing during a public health crisis may be difficult.
Yet the tenant coalition says the connection between health and secure housing is more evident than ever.
“Housing is healthcare,” a spokesperson for HJ4A said. “An eviction moratorium is the first step, but right now it’s critical that every New Yorker is safely housed, especially those who are currently without homes or most in danger of losing their homes due to loss of income.”
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I didn’t even come into this thread when I first saw it because I was like dude can’t be serious. I came in when I saw it had reached 3 pages because I knew people were gonna be on him.
While OP is incredulous to how this could happen to regular people, BILLION DOLLAR CORPORATIONS don’t even have enough liquidity to operate for over a month without income.
Many industries will fold if they aren’t bailed out, mainly the airline and oil industries here in America. That is more shocking than people not having emergency funds. OP must’ve grown up in a bubble.
Many industries will fold if they aren’t bailed out, mainly the airline and oil industries here in America. That is more shocking than people not having emergency funds. OP must’ve grown up in a bubble.
Or people that saw the 2008 crash and learned to prepare for this event.
The fact that he hasn’t gotten clowned to oblivion or ATLEAST called a troll has told me that BGOL has shifted to a lower level of consciousness or thinking. This would not have happened 15 years ago, hell even during the whole @Blunt exposure.
ive said this many times about some of the people on this board, a topic will be being discussed and they’ll be saying “I can’t believe how that could happen”,“I’ve never heard of something like that happening“, “I don’t know anybody that that has happened to”, or my favorite “nobody in my circle, area, would do something like that”. It’s like they don’t watch the news, read newspapers or even look at social media and see what is happening in the world and only know what happens in the bubble that surrounds their little area
Black Security guard where I work refuses to buy a house no matter what I tell him. He brags his wife makes 70k a year and drives an Infiniti but they rent an apartment. He'll make every excuse he can about buying.
"You have to fix things on your own when it breaks."
"It costs too much."
"In my apartment, something breaks, you just call them and they fix it"
"My apartment is mostly white people, I feel safe (Yes, he actually said this).
Now the virus is here and both him and his wife (in their 50's) both at home, hours cut.
I hope their landlords are nice.
I don't have to give you a run-down on how I grew up.
What I can say is that I know what it feels like to eat off of the same pot of beans for a week.
To this day I still can't stand the sight of a bean half the time.
However, I was taught that no matter what you make, put some of it away for a rainy day.
I started practicing that when I worked at McDonald's cleaning up nasty restrooms.
You don't have to grow up in a bubble to understand that philosophy.
I lost my job in 2010 during the BP oil spill.
That almost broke me after I exhausted my unemployment and damn near all my savings.
Luckily I was able to get back on my feet right as I was approaching the panic button.
I knew I had to save more aggressively at that point.
This is one of those reasons I'm glad I listen to my own advice and delayed buying a car. I keep driving my beater and keep up maintenance stretching beyond it's usual lifetime. Folks swear I should get a new car but I refuse to be obligated to an depreciating asset. If 2007 was any indication, dealers will be trying to dump inventory due to slow car sales and that's when I'll consider buying. Now is not a good time to take on that kind of debt so I'm glad I waited it out. That $400 a month goes into savings.
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there are a lot of old school terms that obviously weren't taught to many others bgol is the perfect place to see how many dudes don't come from the same cloth
looking down on cacs cause knowing how they really are is suppose to be taught in households
knowing that cacs hatred for us goes back to dick envy and the fact their alpha
nature and math is the true blueprint and explanation of why society is the way it is and why when we go against it society fucks up
being born with a dick, fingers, and tongue only for some special girls is the only thing u'll ever need to get females
not dickriding modern day court jesters
Making money is all about taking care of your love 1s.. Pretty much blood
cash is king
there's way to many to go on that clearly shows many people on this board and society haven't got the teachings
Same here. I had my business signed to Six Flags in the late 90's early 2k. I had 6 shops about 16-17 people working for me and I was making 75-80k a year. I was on top of the world. After years of debt acquiring the business, they cut my contract. Ex-wife bailed and I was about to lose my house. I promised myself right then, if I ever get back on top that I wouldn't let this happen to me again. I became an "aggressive saver".
Man you sound exactly like my brother! This morning he was saying the same thing about not buying a new car.
NFL players and NBA players take out loans during lockouts. You can figure the every man is about in the same boat.
Thats why I could give two shits about what other people think.
Ride that shit until the wheels fall off.
I've done it several times.
I've always held on to some of what I get. Its been such a struggle to get my wife and kids to save anything. My first summer job was picking berries and vegetables. I saved enough that summer to buy myself a new bike, a few xmas presents, and still had a little left when the next summer started. The more you make the easier it is, but no matter how much or how little you make, if you can't figure out a way to save some of it, you'll be lost.
It makes no sense. My car was paid for right around the last crash. I do most of the work on it myself to save a buck. Since I have to take the subway into work, it just sits in a parking lot all day and then some more when I'm at home. I had to be smarter about my money and that was the best decision I could've made. All I owe is my mortgage so I'm in a good place.
Black Security guard where I work refuses to buy a house no matter what I tell him. He brags his wife makes 70k a year and drives an Infiniti but they rent an apartment. He'll make every excuse he can about buying.
"You have to fix things on your own when it breaks."
"It costs too much."
"In my apartment, something breaks, you just call them and they fix it"
"My apartment is mostly white people, I feel safe (Yes, he actually said this).
Now the virus is here and both him and his wife (in their 50's) both at home, hours cut.
I hope their landlords are nice.
kind of hard to get support for you talking down about a so-called black man during this crisis. Kind of proving the point of why a distinction is needed that brothas like me, @KingTaharqa , @Soul On Ice and @VAiz4hustlaz have been advocating for.
Not everyone wants to own a house, nothing wrong with that. They are already in thier 50’s maybe they enjoy the “stress freeness” off it. Who really wants to go get a 30 yr mortgage at 50?Black Security guard where I work refuses to buy a house no matter what I tell him. He brags his wife makes 70k a year and drives an Infiniti but they rent an apartment. He'll make every excuse he can about buying.
"You have to fix things on your own when it breaks."
"It costs too much."
"In my apartment, something breaks, you just call them and they fix it"
"My apartment is mostly white people, I feel safe (Yes, he actually said this).
Now the virus is here and both him and his wife (in their 50's) both at home, hours cut.
I hope their landlords are nice.
Same situation you would have to hope the banks are are nice too. They might have a shit load saved up
‘Nothing Like Normal’: Covering an Infected Global Economy
A Times reporter who follows the Federal Reserve discusses the coronavirus’s impact on the world’s finances.
Economic strains around the world have led to Wall Street woes, and vice versa. And central banks haven’t been able to stop the damage. Credit...Devin Oktar Yalkin for The New York Times
By Emily Palmer
Times Insider explains who we are and what we do, and delivers behind-the-scenes insights into how our journalism comes together.
As the coronavirus tears across the world, factories are idling, stores are closing, and supply chains are breaking, bringing the global economy to a crawl, with repercussions that are still unfolding. Major cities, countries and central banks are taking measures to curb the outbreak and ease the financial strain, but to what effect? In a world of rising nationalism, such a universal crisis of health and finances points to nations’ interdependence. In Monday’s Times Insider, the reporter Matt Phillips talked in an interview about the volatility in the U.S. stock market. Below is a conversation with Jeanna Smialek, who covers the Federal Reserve from Washington. She discussed the pandemic’s impact on the world’s wallet.
How big of a hit was the plummeting of the U.S. stock market on the global economy?
The way to understand this is less about asking: “What do stock declines mean for the global economy?” but rather: “What does the global economy mean for stocks?” At no point in the modern economic era — in this globalized and heavily financialized world — have we seen something bring so many countries to a grinding halt simultaneously.
On Sunday, the Fed slashed interest rates to almost zero. How could that affect us going forward?
The move should help consumers borrow and spend. For example, it should make mortgages cheaper. But at the end of the day, nothing the Fed can do at this point is going to offset the full shock of coronavirus, because its tools are just not well-suited to making up for lost work hours or helping employees who have missed out on paychecks. They can do a few things to make sure that companies who are missing out on cash flow right now can get loans, but even then, they cannot force banks to lend to insolvent businesses that are bad bets. The Fed will never say it’s out of ammunition, because that is not in its DNA as an institution, but there is a lot of room for congressional action right now.
ADVERTISEMENT
Continue reading the main story
How has the closure of Italy affected the global economy specifically?
Italy is actually a pretty large economy and people don’t appreciate that. But what happened is you saw a bunch of things going bad all at one time: Italy closed, cases in Germany jumped, cases in America began ticking up, cruise ships were lighting up with infections. All of those things together created a perfect storm that showed investors that this wasn’t going to be a blip on the radar.
Can nations work together to help the global economy rebound?
One big story that the coronavirus has brought to light is that global central banks do not have the firefighting power that they had going into the 2008 financial crisis. Many central banks, like in Japan and in parts of Europe, already had very low or even negative interest rates. And so they just have less room to act to soften the economic blow.
What matters right now is what happens to the companies getting clobbered in the moment. What does it mean for airlines, cruise lines, hotels? Is this a short-term blip that is painful but not devastating? Or will this kill companies, thereby having greater repercussions for financial markets, and be much more long-lived in its pain?
How does this pandemic compare to the influence of other major events?
This is almost entirely unprecedented. People try to compare this to SARS, but it’s bigger. And then people try to compare this to 9/11, but most people didn’t have to work from home for a month because of 9/11. People kept going to restaurants after 9/11. It didn’t have the same quarantining effect, which is really important here.
At the end of the day, the government can’t get people back to restaurants when it’s not perceived to be safe to go to them. That’s not something anyone can fix — whether you’re the U.S. government or the central bank.
ADVERTISEMENT
Continue reading the main story
Can you and your editors prepare for this type of coverage?
It really changes on an hourly basis. You could prepare to cover Brexit or the Trump election or any of those big economic moments, but here you just don’t know what’s going to crumble first or what’s going to experience problems next, so you just have to stay in touch with all of your sources and keep up to the moment.
What is a typical day like for you right now?
Nothing like normal. I’m working from home and I’ve worked pretty much every day since the middle of February. I’m camped out in my studio apartment, which looks like a war room. I have all the financial crisis books opened up to important pages and strewn across the floor, notes tacked up on the walls. The news breaks so fast it’s just a very different pace and reality.
Usually at The Times we step back and write the capital “I” important stories. Now everything is suddenly capital “I” important, so I’m writing several stories a day, and we have a live briefing that constantly updates.
If there’s one takeaway for readers on the global economy, what should it be?
It’s been said by every person on the planet at this point, but the single best thing for the global economy is for this virus to be contained. More than any fiscal or monetary package, the public health response here is most important.
The other thing to realize is this is going to be painful, but it should be temporary. As long as it doesn’t precipitate a financial crisis, things should calm down, but there is just epic uncertainty about when that comes: a couple of months, a year or 18 months.
A Times reporter who follows the Federal Reserve discusses the coronavirus’s impact on the world’s finances.
Economic strains around the world have led to Wall Street woes, and vice versa. And central banks haven’t been able to stop the damage. Credit...Devin Oktar Yalkin for The New York Times
By Emily Palmer
- March 17, 2020
- +
Times Insider explains who we are and what we do, and delivers behind-the-scenes insights into how our journalism comes together.
As the coronavirus tears across the world, factories are idling, stores are closing, and supply chains are breaking, bringing the global economy to a crawl, with repercussions that are still unfolding. Major cities, countries and central banks are taking measures to curb the outbreak and ease the financial strain, but to what effect? In a world of rising nationalism, such a universal crisis of health and finances points to nations’ interdependence. In Monday’s Times Insider, the reporter Matt Phillips talked in an interview about the volatility in the U.S. stock market. Below is a conversation with Jeanna Smialek, who covers the Federal Reserve from Washington. She discussed the pandemic’s impact on the world’s wallet.
How big of a hit was the plummeting of the U.S. stock market on the global economy?
The way to understand this is less about asking: “What do stock declines mean for the global economy?” but rather: “What does the global economy mean for stocks?” At no point in the modern economic era — in this globalized and heavily financialized world — have we seen something bring so many countries to a grinding halt simultaneously.
On Sunday, the Fed slashed interest rates to almost zero. How could that affect us going forward?
The move should help consumers borrow and spend. For example, it should make mortgages cheaper. But at the end of the day, nothing the Fed can do at this point is going to offset the full shock of coronavirus, because its tools are just not well-suited to making up for lost work hours or helping employees who have missed out on paychecks. They can do a few things to make sure that companies who are missing out on cash flow right now can get loans, but even then, they cannot force banks to lend to insolvent businesses that are bad bets. The Fed will never say it’s out of ammunition, because that is not in its DNA as an institution, but there is a lot of room for congressional action right now.
ADVERTISEMENT
Continue reading the main story
How has the closure of Italy affected the global economy specifically?
Italy is actually a pretty large economy and people don’t appreciate that. But what happened is you saw a bunch of things going bad all at one time: Italy closed, cases in Germany jumped, cases in America began ticking up, cruise ships were lighting up with infections. All of those things together created a perfect storm that showed investors that this wasn’t going to be a blip on the radar.
Can nations work together to help the global economy rebound?
One big story that the coronavirus has brought to light is that global central banks do not have the firefighting power that they had going into the 2008 financial crisis. Many central banks, like in Japan and in parts of Europe, already had very low or even negative interest rates. And so they just have less room to act to soften the economic blow.
- Thanks for reading The Times.
What matters right now is what happens to the companies getting clobbered in the moment. What does it mean for airlines, cruise lines, hotels? Is this a short-term blip that is painful but not devastating? Or will this kill companies, thereby having greater repercussions for financial markets, and be much more long-lived in its pain?
How does this pandemic compare to the influence of other major events?
This is almost entirely unprecedented. People try to compare this to SARS, but it’s bigger. And then people try to compare this to 9/11, but most people didn’t have to work from home for a month because of 9/11. People kept going to restaurants after 9/11. It didn’t have the same quarantining effect, which is really important here.
At the end of the day, the government can’t get people back to restaurants when it’s not perceived to be safe to go to them. That’s not something anyone can fix — whether you’re the U.S. government or the central bank.
ADVERTISEMENT
Continue reading the main story
Can you and your editors prepare for this type of coverage?
It really changes on an hourly basis. You could prepare to cover Brexit or the Trump election or any of those big economic moments, but here you just don’t know what’s going to crumble first or what’s going to experience problems next, so you just have to stay in touch with all of your sources and keep up to the moment.
What is a typical day like for you right now?
Nothing like normal. I’m working from home and I’ve worked pretty much every day since the middle of February. I’m camped out in my studio apartment, which looks like a war room. I have all the financial crisis books opened up to important pages and strewn across the floor, notes tacked up on the walls. The news breaks so fast it’s just a very different pace and reality.
Usually at The Times we step back and write the capital “I” important stories. Now everything is suddenly capital “I” important, so I’m writing several stories a day, and we have a live briefing that constantly updates.
If there’s one takeaway for readers on the global economy, what should it be?
It’s been said by every person on the planet at this point, but the single best thing for the global economy is for this virus to be contained. More than any fiscal or monetary package, the public health response here is most important.
The other thing to realize is this is going to be painful, but it should be temporary. As long as it doesn’t precipitate a financial crisis, things should calm down, but there is just epic uncertainty about when that comes: a couple of months, a year or 18 months.
This whole thread is a testament to what we talk about and advocate for. Boomerism, boomer-hooked, and decadent veil on full display.
Exposed for what? How many foreigners have savings except for socialist countries?
Everyone has the latest phone, driving nice cars, nice houses. Living the life. In reality most people are a check or two away from being homeless. On a bigger scale you have big businesses that can't/won't even shut down, risking their employees lives. Some of them cant afford to close for a period of time. The richest country in the world.
Shit hasn't even really hit the fan yet....
Now that shit should be on t-shirts, hats, and announced on the tv every commercial break. It's crazy that people don't understand that. These companies want 'Joe average' to be all stocked up and ready to take care of shit, but the companies like
after a few weeks. And the companies the ones with the huge tax breaks and CEOs worth 8-9 figures.Similar threads
