/biz/ - Business & Finance

>>55784026

Many of them would use a credit card. But yes, most people are broke.

>>55784026
Check yourself before you wreck yourself

>>55784026
>does this mean people don't have 400 dollars in a checking account
Yeah. They might have $400 at some time but they aren't confident that there will be $400 when they need it. These people consoom pay check to pay check.
>inb4 filthy bongs go on a about pay cheques

>>55784026
>>55784131
Why would I take money out of my investments yielding >5% right now when I can charge it to an interest-free credit card?
People who keep huge piles of cash sitting around are dumb. At least invest it in Treasuries or bonds or something.

>>55784026
>does this mean people don't have 400 dollars in a checking account, what the fuck does this mean
either that or they do but if they spent it they could very well be totally fucked in the near future

>>55784781
>Why would I take money out of my investments yielding >5% right now when I can charge it to an interest-free credit card?
Cash and equivalents are liquid.
These are people with NOTHING.

>>55784819
>Cash and equivalents are liquid.
How liquid? All my emergency savings are in SWVXX/SNSXX. It can take ~2 days to get my money if the timing is bad.

>>55784865
It is easily sold at the prevailing market price. A day or two for settlement between institutions is typical. (and in the future, the FedNow banking system will make it available instantly, for better or for worse)
An illiquid asset is something like precious metals, vehicles, houses, collectibles that sort of thing. You could argue they're still somewhat liquid as you can use them for collateralized loans, but that's just asking for trouble and getting on the debt treadmill.
But again, the average normalfag doesn't invest. They might have a few dollars in a company pension fund that they don't think about, perhaps a mutual fund at a bank, but most people live pay to pay

I have $150 in cash, $21k in a brokerage account, $24k in crypto and $90k in a retirement account.

Why the fuck do I need more than $200 in my checking account when I have a credit card?

>>55784909
>“Cash and cash equivalent” includes paying with cash, with money in a checking/savings account or putting the expense on a credit card and paying it in full at the next statement. “Noncash equivalent” includes putting the expense on a credit card and paying it off over time, using money from a bank loan or line of credit, borrowing from a friend or family member, selling something, or using a payday loan, deposit advance or overdraft.

>>55784781

>>55784985

>Bidenomics
>not the post-pandemic economy with rampant inflation that started with price gouging under Trump, but continued on with central bank driven inflation that was the trade off for staving off mass unemployment

Anything to blame a democrat huh?

>>55784026
It doesnt matter if you make $26k or $110k the absolute majority of americans spends all of their paycheck as soon as they get it not accounting for retirement fund

>>55785492
Still is also the reason Americans complain about an imaginary living wage despite living in the cheapest most well paying country in the world (besides towel heads but they dont count)

>>55785449
biden shut down most of the economy

red states functioned as normal and didn't lock down

biden is pretending he just solved all economic problems when we had over 20 percent inflation

yea demos are shit bro

>>55785536
>Biden shut down most of the economy
>in 2020

>>55784026
I have seen other news reports that say things are better than ever and gosh darnit, I believe them!

>>55785536
>biden shut down most of the economy
I bet most of the guys you listen to have beards and vape, right?

>>55784026
Democrats think this is ideal and that you'd have to be a white supremacist to think this is bad.

>>55784909
...to pay your credit card statement?

Collapse already, this is hell