General Discussion
In reply to the discussion: 80% of the US Population is at or below the POVERTY line - WHY is this NOT a National Emergency??? [View all]CrispyQ
(36,462 posts)Yes. I think so. It's a sad commentary on people, but I think that most people don't see the light, until they feel the pain, either personally, or someone very close to them. And even then, some will still cling to the status quo.
I read an article that said Americans are trinket rich but equity poor. Yes, we have gadgets, furniture, & nice cars, but we have very little in actual equity. I think many Americans are fooled by the trinkets & think they are doing better than they really are.
Recently, (maybe last year?), there was a survey that showed that over half the respondents did not have $2000 cash to draw on in an emergency. That's not a lot of money & no where near the 'six months cushion' I was always advised to have, back in the day before easy credit.
The playing field has never been even, but it's getting more skewed every day & more & more people are falling into the abyss. I think we are slowly approaching that critical mass you mentioned, & at some point, it will accelerate, & then, who knows where it will go?