I thought I was middle class... guess I'm lower middle class at best
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"The Federal Reserve Bank of New York added $33.55 billion to the financial system Thursday by using the market for repurchase agreements, or repo, to relieve funding pressure in money markets."
Is this confirmation of a bear market?
Two year note another big move lower today. Stoked for that! Lower rates and steeper yield curve is good for stocks in short term.
Traffic loosening up in 880 corridor:
HP Inc. will slash as much as 16% of its workforce as part of a broad restructuring meant to cut costs and boost sales growth amid the company’s first change in top leadership in four years.
The personal computer giant said it will cut 7,000 to 9,000 positions through firings and voluntary early retirement. The job reductions will help save about $1 billion by the end of fiscal 2022
HP adding $5b buyback. Stock is down 5% in the aftermarket. On sale!
Buybacks using cheap debt issuance and restructuring show lack of demand.
https://www.youtube.com/watch?v=6wtXDtQyF_c
Live: Fed Chair Jerome Powell delivers remarks at 'Fed Listens' event
This is possibly me. Drive an old shitbox Honda as a commuter. 173k on the clock. Other car is a newer 4Runner that wife drives as the kid shuttle and our weekend/family/ski car. No payments. I'd like a new car, but want a pure EV with the 5kw solar system on our roof. Also want AWD. Current options that fit that bill (Tesla and Audi) are $$$. I could afford an AWD Model 3, but don't want to. Outlander and Crosstrek PHEVs are meh. But the Subie/Toyota joint EV is possibly what I'm looking for. And so I wait for now.
Only in the stock market thread do people think $350,000 income is middle class lol. Not even close. https://www.investopedia.com/financi...s-are-you.aspx
It's not wealthy, but it sure ain't in the "middle" - more like top 1-2% nationally and top 5% in SF/NY/LA.
Turns out it was a fictional family and perhaps designed to promote class warfare/outrage. Not sure and don't care enough:
https://slate.com/human-interest/201...=pocket-newtab
Nope. What's really happening is that the lower/working class is growing as the middle class has shrunk dramatically. Ya, the median and mean incomes are a LOT lower. However, if we look at purchasing power.. what middle class families of the 50s through the 80s could afford, 2-3 cars, college for 2 kids and a decent self owned home now requires well over $150K a year in low cost of living markets. To live as well as the middle class families lived in the 50s-80s it takes $150K-$500K/year. Families with two working parents driving UBER and 2 other jobs each to pull together $80K aren't living comfortably at all. Paycheck to paycheck ain't middle class even if that's what most Americans are having to do now.
I'll confirm raising kids in Seattle on 250k sucks a lot more than I thought it would.