67% OF BLACK FRIDAY Shoppers IN Crushing DEBT
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Redefining Economic Reality: The Fraying Social Contract and Consumer Debt
Understand why current official poverty metrics fail to capture modern financial stress and how heavy reliance on credit reveals a widespread consumer squeeze masked by headline retail numbers.
Short Summary
- The official Federal Poverty Line (FPL) calculation is significantly outdated, ignoring modern necessities like childcare and digital participation costs.
- An analyst calculated a family of four needs $136,000 annually just for basic participation, suggesting most households are functionally struggling.
- Black Friday data reveals consumers spent more money while receiving 4% fewer items, indicating reliance on credit to maintain purchasing power.
- Structural issues, such as safety net "cliffs" (losing benefits when income marginally increases), create systemic traps for the working poor.
- The gap between perceived prosperity and increasing household expense necessitates re-evaluating basic housing models and social support design.
This discussion pivots on a viral essay arguing the FPL is disconnected from reality. The speakers break down the rising costs required for basic societal participation, moving beyond mere subsistence. They link this systemic financial pressure to consumer behavior, specifically the alarming reliance on debt during high-volume shopping events like Black Friday.
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Top Comments (10)
I didn’t buy a single item on Black Friday except groceries for the week. Oh….. & Bing Rips for Saagar of course.
First year in my life as an adult that I didn't buy 1 thing on black Friday
Stores are also just scamming people lol. People have been revealing that the price “discounts” are just the regular prices lol but with fancy “LOOK AT THIS 40% OFF SALE” signs.
The idea that anyone could provide for a family of four with $33,000 a year is an absolute joke and frankly insulting that is the poverty line. You can barely survive on that as a single adult.
I didn’t buy anything on Black Friday this year. 5% off isn’t that appealing.
This level of corruption and oligarchy is unsustainable.
Black Friday sales have become just regular sales with a different sign. 40% off? For the 8th time this year.
I make 70K in Atlanta and I feel broke. I make just enough to not be poor but not enough to achieve any of the financial milestones boomers easily reached 30 years ago
Didn't buy a thing, only my mother gets a Christmas present this year, everyone else is getting a card and a lottery scratcher
They always seem to forget the social engineering that companies have been perfecting to pull you away from your money.
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Top Comments (10)
I didn’t buy a single item on Black Friday except groceries for the week. Oh….. & Bing Rips for Saagar of course.
First year in my life as an adult that I didn't buy 1 thing on black Friday
Stores are also just scamming people lol. People have been revealing that the price “discounts” are just the regular prices lol but with fancy “LOOK AT THIS 40% OFF SALE” signs.
The idea that anyone could provide for a family of four with $33,000 a year is an absolute joke and frankly insulting that is the poverty line. You can barely survive on that as a single adult.
I didn’t buy anything on Black Friday this year. 5% off isn’t that appealing.
This level of corruption and oligarchy is unsustainable.
Black Friday sales have become just regular sales with a different sign. 40% off? For the 8th time this year.
I make 70K in Atlanta and I feel broke. I make just enough to not be poor but not enough to achieve any of the financial milestones boomers easily reached 30 years ago
Didn't buy a thing, only my mother gets a Christmas present this year, everyone else is getting a card and a lottery scratcher
They always seem to forget the social engineering that companies have been perfecting to pull you away from your money.