/biz/ - Business & Finance

[Anonymous No.12355905]

If you have a dollar in your pocket and no debt you are wealthier than 40% of Americans.

[Anonymous No.12355912]

Fucking brainlet, just stop posting.

[Anonymous No.12355926]

Would you consider someone who was managing their debt, but had an income of 100k per year as less wealthy than a neet living with his parents with $1, no debt and no career prospects?

[Anonymous No.12355934]

>>12355905
lol so fucking stupid. By your logic I am wealthier than every business and government in the world. If you don't believe me find any business or government that doesn't own any debt.

[Anonymous No.12355965]

>>12355912
>>12355926
>>12355934
Wealth means possessions, so he is kind of right. However, maybe a good job could valued kind of like businesses are.

[Anonymous No.12355988]

>>12355965
I guess you could argue he is TECHNICALLY right, although in that scenario the person in debt is clearly in a better position.

[Anonymous No.12356012]

>>12355926
C O P E
O
P
E

[Anonymous No.12356021]

>>12355934
governments have assets that could cover their a million fold, plus the US govt is a special case because it practically has infinite USD and can just print away its debts if ever wants to

established businesses also have assets that can cover their debt, and yes startups are generally poor and very often go bankrupt

[Anonymous No.12356027]

>>12356012
Well I mean, how are you suppose to buy a house without taking out a loan?

[Anonymous No.12356031]

>>12355905
I don't have any debts but I also recognize that a person who took a $1000k loan to buy a business generating $200k / year is in a better position than me.

[Anonymous No.12356033]

>>12356027
if you buy a house with a loan that's an asset so your networth should be above $0 if you didn't fuck up the deal

[Anonymous No.12356043]

>>12356031
only if the business was currently valued over 1m. the business could operate in an area that's predicted to dry up by next year hence he was sold the business

[Anonymous No.12356045]

>>12356033
Wait, there are people who have less than $0 after accounting for their assets? I assumed we weren't talking about assets here... how is that possible?

[Anonymous No.12356052]

>>12356045
250k MBA / making a bad investment with their loan

[Anonymous No.12356059]

>>12356052
I forgot americans got cucked by student loans.

[Anonymous No.12356066]

>>12355905
>brainlet that doesn't understand leverage

[Anonymous No.12356098]

>>12356021
If you don't know about economics, shut the fuck up until you do.

[Anonymous No.12356114]

>>12356021
>US govt is a special case because it practically has infinite USD and can just print away its debts if ever wants to

Holy shit you are a brainlet. USA can't print any USD, only the FED can do that. Thus USA has to borrow dollars from FED if it wants to have any new USD. They of course have to pay those borrowed USD back with intrest.

[Anonymous No.12356136]

>>12356114
Thanks. I didn't think the kid would understand the reply so I'm glad you wrote one and now I can sleep :)

[Anonymous No.12356155]

I'm in the second 20%, it's basically what middle class was in 1960.

[Anonymous No.12356167]

>>12356114
>>12356136

why can't they make scoring above 90 on an iq test a requirement for posting on /biz/

IF the govt decides to print away its debts, you really can't see a way of how it will get its will through? i'm sorry but i can't pinpoint it with any higher clarity.

[Anonymous No.12356173]

>>12356167
not to mention all rules of the appointment process for the FED ARE subject to change BY the government, jesus fuck brainlets and their blue pills

[Anonymous No.12356182]

>>12355926
If you can’t pay off your debt completely with that 100k then yes you are a wagie and in the hole

[Anonymous No.12356526]

>>12355905
What a fucking bullshit statistic for brainlets. The vast majority of the so-called "wealthy" have their assets in illiquid shit like they fucking house they live in. It's not like they have money rolling out of their ears and they're running around town buying frivolous shit just to rub it in on the poors. Besides, you can slice the statistic 10 different ways depending on what the narrative you want to push is. What about the top 10%, top 1%? Top 38.74%. Mostly normal people working good jobs with a house and a retirement fund. You want to have class warfare with the productive middle class? Yeah, good luck with that.

[Anonymous No.12356749]

>>12355905
>40% of Americans are in debt meme

If you have dollar in your pocket your not better off than someone who has 100k in assets and 100k in debt and those 100k assets generate monthly income of 1k.

[Anonymous No.12356850]

>>12356526
>productive middle class?
That still exists?

[Anonymous No.12356952]

This thread is full of people who don't understand wealth vs. cash flow. If you make 100k and spend 101k and your assets are worth less than your liabilities, then you are poor.

[Anonymous No.12356968]

>>12356952
And if you have 50k in student debt, no other liabilities (and no assets) and make 100k, you are temporarily POOR. Someone with $1 in their pocket and no debt would be richer, although his prospects would be worse. Why does this even need to be explained?

[Anonymous No.12357449]

>>12355905
Is this how you cope, brainlet?

[Anonymous No.12357467]

[Anonymous No.12357746]

>>12355905

I have a dollar... in this form.

[Anonymous No.12358556]

I have about 3 grand in debt, but that's because of my braces. $130 a month, which is roughly 2 years of payments, fuck that. Stopping a semester of college since I got my Accounting AA and there are good accounting assistant positions that are having me start soon. Plus some data entry work I'm doing, $500 for two weeks, going to put that towards my debt.
My net worth I believe is 300 from IRA, 1000 in emergency fund, so -1700

[Anonymous No.12358582]

>>12358556
this isn't your blog, faggit

[Anonymous No.12358611]

>>12358582
You're right, I'll just keep lurking

[Anonymous No.12359296]

>>12357746
Hell yeah brother, keep on stacking

[Anonymous No.12360361]

>>12355905
So my trivial overpayment of my mortgage on an apartment in an expensive suburb with plenty of money to spare each month makes me poor? Hmmmmmmm

[Anonymous No.12361233]

>>12355905
>rich people have more money than poor people
woah

[Anonymous No.12361822]

Y'all are poor. Feels good coming from a rich family.

[Anonymous No.12362436]

>>12356850
who do you think pays for welfare

[Anonymous No.12363898]

I say we trick celebrities and stupid normies to burn cash

[Anonymous No.12363913]

>>12360361
whats the interest on the life of the mortgage, how much did you buy your place for and whats the total paid at the end of the loan?

[Anonymous No.12364272]

28 posters in this thread.
Not a single one understands equity

[Anonymous No.12364317]

>>12364272
Not even you.

[Anonymous No.12364331]

>>12355934
no genius

[Anonymous No.12365428]

>>12355905

Americunts are so much in debt?? LMAO
Makes me feel actually quite comfy

Is spending so much on things you actually dont need a national sport in JewSA?

[Anonymous No.12365446]

>>12365428
Mindless debt isn't great but America is hardly the worst.

[Anonymous No.12366209]

>>12365446
Pretty interesting list. How is size of the economy calculated?

[Anonymous No.12366433]

>>12366209
Not sure but the source is The Economist magazine so I guess it's credible.

[Anonymous No.12366639]

>>12356012
Only cope I see here is from the NEETs with $50 in the bank somehow thinking they are better off than the people with careers and a mortgage.

[Anonymous No.12367315]

>>12357467
This graph is nice. Can you imagine that the people on 4chan are all in the top 15pct? And they are all between 20 and 35yo*

*Source: "Age/how much do you earn"-threads.

[Anonymous No.12367319]

>>12355905
kek fukin merimutts

[Anonymous No.12367330]

>>12366209
I think it's compared to the national debt.