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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts
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To: Lee Lichterman III who wrote (73955)11/16/2022 7:52:26 PM
From: The Ox2 Recommendations

Recommended By
Lee Lichterman III
Lou Weed

   of 97824
 
I understand your sentiments but many people are being squeezed by higher costs, which are out running their increase in wages. Yes, you are 100% right that there are plenty of people who get a job or an increase in pay and mortgage their future by buying a car they don't need.

In many cases I would not call these cash flow struggles stupidity but trying to be as practical as possible when their income is lost or is reduced. Dual income households fall back on their credit cards during hard times, as one wage earner loses (or transitions) a job. People who had enough income to pay down their cards each month may run into a situation where aiding family or an unexpected large expense changes their monthly cash flow dynamic. The float on a card "MAY" get them through a tough few months... but if they're not earning more at the end of the tough times, cash flow get squeezed even further by higher interest fees.
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