I need to b***h about the economy

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RossMc
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08 Jul 2010, 12:57 pm

One thing I can't understand is that if so many people are unemployed, why is everything so expensive? I make about $55, 000 a year, but I am barely scraping by. I live alone and have a simple lifestyle, but I am broke all the time. I live in a high cost-of-living area, the North Shore of Boston, but still, I don't get it.
I almost always bring a lunch to work instead of getting takeout or eating in a fast-food restaurant like my co-workers. My only real luxury is a subscription to the Wall Street Journal, ridiculously expensive at $440 a year. One thing is that taxes are high here.
Of course, some of my expenses come directly from financial collapse. People often don't realize that it costs a lot of money to be broke. I have to pay $245 a month to pay off old credit card bills from a bankruptcy settlement, $200 a month as my share to pay off unpaid taxes racked up by my ex-wife three years ago, and $239 a month to store my stuff after a home foreclosure. Of course, I was fairly lucky- The $245 a month represents paying off 38% of the actual debt at 0% interest (I just have to slowly repay a fraction of the principal). The foreclosure too was not bad- They are trying to sell my house that the bank now owns, but they can't come after me if the proceeds from the sale are less than what I owe them, since when the bank was notified that I was filing for bankruptcy, they forgot to petition the bankruptcy judge in time to file a claim as a creditor. Now they are just an unsecured creditor that missed the filing deadline.



Ackman
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08 Jul 2010, 1:56 pm

RossMc wrote:
One thing I can't understand is that if so many people are unemployed, why is everything so expensive? I make about $55, 000 a year, but I am barely scraping by. I live alone and have a simple lifestyle, but I am broke all the time. I live in a high cost-of-living area, the North Shore of Boston, but still, I don't get it.
I almost always bring a lunch to work instead of getting takeout or eating in a fast-food restaurant like my co-workers. My only real luxury is a subscription to the Wall Street Journal, ridiculously expensive at $440 a year. One thing is that taxes are high here.
Of course, some of my expenses come directly from financial collapse. People often don't realize that it costs a lot of money to be broke. I have to pay $245 a month to pay off old credit card bills from a bankruptcy settlement, $200 a month as my share to pay off unpaid taxes racked up by my ex-wife three years ago, and $239 a month to store my stuff after a home foreclosure. Of course, I was fairly lucky- The $245 a month represents paying off 38% of the actual debt at 0% interest (I just have to slowly repay a fraction of the principal). The foreclosure too was not bad- They are trying to sell my house that the bank now owns, but they can't come after me if the proceeds from the sale are less than what I owe them, since when the bank was notified that I was filing for bankruptcy, they forgot to petition the bankruptcy judge in time to file a claim as a creditor. Now they are just an unsecured creditor that missed the filing deadline.


I hear you on the tax issue. I used to live on Nantucket Island, where in the winter you'd drive yourself crazy. During the summer, forget it, everything costs so much there, that's why I left and currently live in Saint Louis,MO where it isn't much better. When things improve I'm moving back east, where I belong.



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08 Jul 2010, 2:21 pm

Everything is a joke, with low income people, they still charge a lot for health insurance to have the whole family on it. We just cannot afford to have me on my husband's health insurance or that is $367 a month and he be bringing home less money. With your whole family on it, it's more.



MissConstrue
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08 Jul 2010, 2:53 pm

Yeah I'm having the same problem as well. It seems things have changed so dramatically within these few years.

I'm without cable, airconditioning, car, health insurance, and I try to use the phone and electricity as minimal as possible. I think my only luxury now is the computer. It's crazy and the taxes have gone up even though the roads look like crap and nothing gets repaired. I can't believe the cost of everything whenever I go out, even Walmart is no longer the cheap store it once was imo.

Oh and I have 2 full grown kitties which adds onto the cost but I just don't have the heart to go without them.


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Northeastern292
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09 Jul 2010, 12:26 pm

Most blame it on that there is a poor distribution of wealth. I hate saying this, but money is a finite substance. People's incomes are less, and combined with inflation, it makes for a tight situation. Furthermore, everyone is living on credit.