- The average American has $90,460 in debt
- 63% of the workers are unable to pay a $500 emergency expense
- 48% of the population is using credit for essential living expenses
Putting all this together indicates that majority of workers are actually being paid less than the living wage now. This was precisely the problem that Marx identified in the first volume of Das Kapital
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CNBC is advertising loans in that article about debt by age in America:
Consider a personal loan to consolidate debt — get matched with a lender here, or check out these options:
- For those with good to excellent credit, LightStream may fit your needs; for those with fair credit, LendingPoint is worth a look.
As if credit cards weren’t bad enough…
note: the median American is “only” 59.8k$ in debt, which while lower than the 90.5k$ figure given in the post, is still larger than the median yearly wage (59k$)
Yeah, it’s a bit less bad for the median, but still unsustainable.
It sounds like you’re ungrateful 🙏 for being a glorious 🍔 AmeriKKKan citizen 👨🏼. We have the freedom 🦅 to go thousands 💰into debt. Think about the poor 👨🏿 people in Africa 🐘 and how they starve 💀to death.
