How will Millennials survive 10% interest rates?

Maybe they shouldn't be earning minimum wage

we won't see 10% anytime soon, faggot.

How did boomers survive rates much higher than 10%?

Good post

Should is an idealist word. They shouldn't in an ideal world but it doesn't change the fact that many minimum wage workers are over 30.

>we won't see 10% anytime soon, faggot.
>literally going to exceed 4% next year
get your eye checked

Misinformation is more easily available, and we also don't teach how to differentiate between it and good information. For every person that does their own research and finds the truth, 10 more will find lies meant to trick them into losing their money.

Pretty fucked up society you live in there. Thats what unions are far to collectively bargain and get some of that profit for workers

It isn't always a trick though. You can be perfectly aware of the shoulds for credit, savings, and loans but get things on credit anyways because it's the only option.

Fucking McDonalds has a 400% annual turnover.
You literally hit shift/line manager in as little as 3-4 months provided you aren't a drooling retard who smokes pot every cigarette break.
That's $32k a year. $42k for more expensive cities.

If youre still working minimum wage in your 20s you already fucked up.

>4%. not even half way there

You think the Fed is going to push rates to 10%?...

Yes, lets put a shotgun in the mouth of our bull run and pull the trigger.

If they didn't want to make minimum wage then they should have learned a trade, went to university, or had some connections. Poverty is a choice because you get to be poor or stay poor by making bad decisions.

feds want to kill the bull market

Do you live in the real world away from McMansionville? It's like you've never been to a trailer park or where the other half of the country lives. Many people over 30 work minimum wage jobs.

so you're shorting or loading up on floating rate bonds?

Yes I worked since I was 16 (well 15 technically). By 20 I was already earning $10/hr when minimum wage was something like $6. By 30 I was earning 100k. I now make 130k from my 9-5 and pull in ~15k each on both rental properties I own. I'm 35. This isn't something phenominally difficult to accomplish, you just need to actually work toward bettering your marketable skills and learning about financial management. In the internet age you have absolutely no excuse if you aren't bettering your skills in your free time.

I agree. We need more unions. The people talking about having savings and never using credit should try living on a 15k a year income with 600 a month rent expenses and 500 to 600 a month medication expenses. Now how are you supposed to get by on that income if there's a sudden bill or the car breaks down without credit or payday loans? You can't.

Many people are lazy and content with being losers.

Implying the fed will tank all the overleveraged corps. Low rates will be around for awhile

Late millential/early zoomer here:
I will survive with no issues.

By not taking on any debt. This is 6th grade math level shit.

If you cant buy anything with 100% cash, guess what .... You dont fucking buy it. QUIT GIVING (((THEM))) more of your money!

hey look, a poster who isn't retarded.

If you aren't earning 7 figure by mid 20s you are brainlet who doesn't understand how capitalism works.

>claim is will be 10% interest rate
>post picture that implies 2% interest rate
> neither picture nor post state what this is an interest rate for

ill assume home loans as a personal mortgage with 20% down and a credit score of 800+ is the only way to get anywhere near that low of an interest rate. also wont be up to 10% anytime soon, especially with the pathetic interest they pay on money in bank accounts

Any adult who earns minimum wage can blame nobody but themself, especially in this day and age of the internet. Very few people actually earn the minimum wage in America because it takes very little effort to learn a skill worth more. The average wage in America is $27 an hour and the average person is a literal retard, so there's no excuse to have absolutely no marketable skills beyond flexing your arm to flip a burger. If you can figure out how to use Jow Forums, you can figure out how to make more than the minimum wage.

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maybe you're as dumb as a brazilian though

This. Many trailer park residents are wilfully unemployed and on drugs.

Again a middle class sheltered response. Poor people use credit to have money for necessities. Middle class use credit for their vacations to Asia.

Imagine you make 15k a year, your rent is 600 and your medicines are 500 to 600 a month. Now try living without credit when your car breaks down or there's another emergency like the toilet needing a plumber.

most of your post is pure crap the number contradict your fairy tails take your head out of your ass asap
>try to look smart ass
>look dumb as fuck
how to be an american

>Being this blissfully retarded about the Federal Reserve interest rate..
Yikes..I sincerely I hope you're joking..

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Work harder faggot. If you hit 40s and arent making minimum of minimum 7 figures you didnt put effort nor brains.

Work smart and hard and learn to capitalism.

A fry cook at McDonalds isn't working less hard than the accountant.

>what this is an interest rate for
>can't recognize the 13 week bill
shiggy

How many people with 15k incomes have $600 a month rent? They don't get gibs?

The fuck is this leaf rambling about?

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Why would an able bodied male work at McDonalds when they could work any labor job and make 2-3x?

Accountants work hard?

>Poor people use credit to have money

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>WAH! It's not my fault and I cant do ANYTHING to better myself!

People with this defeatist attitude don't win at life. I hope you, your children, and your children's children enjoy your lower class existence. Good luck bud!

>average income is $27 an hour
>50% of country works
>average person is a retard
>takes 100% of the country into account

lets be honest here. if everyone studied skills and trades, who would be left to flip the burgers. dont berate them.
on a good note my wife and i both earn more than the average household income in my state. feels good bro

Do you even live in 2018? You must be under 25 or over 50 to be this clueless on the rent costs of this era.

We could always stop importing people that do a lot of these jobs and suppress the wages they pay...

lol, apartments aren't cheap. I'm saying I would assume someone making $15k would get some sort of assistance. If not, get a fucking roommate. $600 a month rent on a $15k salary is a sure way to stay fucked.

t. Early 30's midwest programmer who makes $120k.

>who would be left to flip the burgers.
Teenagers who haven't learned other skills yet. About an hour on the internet is enough to learn a basic skill worth more than the minimum wage. But that requires not wasting time on facebook and actually making an effort to improve your situation.

ill own up to my ignorance. explain it to me smartass. cant find any information on this outside of its a rate that banks loan money to each other

>Get a room mate in a studio apartment.....

I'm 21 and make $60k/y with no college.
Maybe if people weren't so niggerish, they wouldn't have a minimum wage job.

apologies. i forgot that studio apartments are the only type of apartment offered in 2018.

>Imagine you make 15k a year, your rent is 600 and your medicines are 500 to 600 a month. Now try living without credit when your car breaks down or there's another emergency like the toilet needing a plumber.

Pitiful. I suggest you roll up and die.

>average wage in america is $27/h
What happens to that average wage when you take boomers out of the equation you dumb nigger?

Apartments check your income. If you don't make 2 to 2.5 times the rent they don't let you in to get more rooms.

how did you get it?

I know people who are in their 30s and even 40s on minimum wage. You're an anomaly for the era.

Where do (((banks))) get their money? They borrow it from the (((federal))) reserve and (((other banks))) at the current interest rate and then mark it up to loan to the goyim. If they are below the reserve requirement, they have to borrow from another bank by law. A low rate usually results in banks handing out more loans, creating inflation.

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Are all your friends losers?

I have a 30 year old coworker who oddly enough still has roommates.

He pays about $500 a month. One of his buddies works at Home Depot.

They do if they have more than one person on the lease ... They look at BOTH incomes.

When I couldn't afford rent 4 years ago, I called a friend of a friend up (who was apartment hunting) and asked him if he wanted to look at apartments together. We split the $600 in rent.

You'd be more successful and save more money by putting in more than a modicum level of effort.

>What happens to the average wage when you remove 70+ year old people
You tell me, Sven.

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If someone sits in that type of job for 10-20 years, you don't partially fault them? They couldn't land a warehouse job? Couldn't find any labor or construction jobs? Couldn't apply for an apprenticeship? If they've been there that long, can't use the waiting list as an excuse...

>Russia
>Sven

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>buy a cheap ass house
>get rid of all debt except mortgage
>save at least USD 50k/year
>wait for interest rates to go fucking crazy and make people afraid to take out mortgages, therefore home buyers decrease in numbers, making home prices go down
>use the money I saved and put it down on a house, paying all or most of it off, therefore high interest rates won't mean shit for me
I hope it fucking comes

ahh thanks

then why are people in here implying it was much higher at one point? wasnt the bank just backed federally in 2008 during the housing crash? also inflation is good. 2-3% is ideal, any less and people would hoard their money as seen in japan, any more and people would loose confidence in USD

>implying boomers are all retired and not making any money
You are a fucking moron. If you look at how much millenials are earning, their average annual income is $20-$25k. In Cali it's $30k but it's because the taxes are high as fuck so salaries are a little bit higher too. Also
>Sven
Murican education everyone.

He's not an anomaly. I have an associate's degree from a rat hole community college, that I paid for living on $10/hr, and now make $85k a year. If you want to win at money and life you have to hustle, work, be gracious, learn, and ask questions. Life doesn't just hand you shit.

... rates were high as fuck in the 80's dude. CD rates were at ~13% at one point.

You're definitely a boomer.

Sorry, non-brainlet joke that requires knowledge of history.
en.wikipedia.org/wiki/Rus'_people#Normanism

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I think we need to be willing to move to lower cost areas even if it means being hours away from big cities. Places in mid-Northern BC, Northern Ontario, NB, SK are all very affordable and cheap.

Once I'm done medschool I'm going to some tiny town or another in Northern BC or Ontario where I am going to make 90-95% of what I would make in Vancouver, or Toronto.

WTF AIDS-tier shit do you have that your meds are the same as your rent?

nope, just not a young faggot who feels sorry for themselves instead of figure out how to better their life.

keep doing what you're doing. i'm sure it will just magically change one day without you putting in any effort

I'm 27, if anything I'm a zoomer

Rd do you do to be able to save 50k a year

And can I do it with a 10 year old criminal record

That has been the philosophy of my life.
Never used a credit card.
Never took out a loan.
Saved cash.
Bought everything I own outright.
I live within my means.
I live with less, if I need to save.

Its the way everyone used to be, before the world became corrupted by this corrupt financial institution we are all living under.

Really confuses people out whenever I tell them that; "No I don't want to make payments, I have all the money to buy X right now."

>Now try living without credit when your car breaks down or there's another emergency like the toilet needing a plumber.
Easy. You no longer have a car, or you dig an outhouse. In either case you're still alive.

>implying you're talking to a norman and not a slav
pls

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there wont be any 10% fed set interest probably ever again. america probably wont even reach 5% fed set inerest

This.

If any of you brainlets need help, look up Dave Ramsey. If you can follow his childishly simple advice about spending/debt/money even you can have a decent existence/retirement.

Dave Ramsey is a nigger, fyi.

Can be an alright start to get people on a better path, but the guy is a nigger.

>If you look at how much millenials are earning, their average annual income is $20-$25k
Source or random statement. And yes, wages go up as you get older, brainlet.
>Murican education everyone
Not knowing your own history.. Yikes..

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Do you realize how unreliable public transport is? Do you realize the type of people that use it? Do you realize the bus doesn't always come around the same time. Do you realize that it can take 2 hours to get somewhere with public transport that can take you 45 minutes with a car?

Here's how it would play out. You'd arrive late to work too many times and get fired.

Alright, but even in that case you're still alive.

Don't forget that he would also have a fashionable outhouse.

I'm not saying follow his brainlet level investing advice. He's good for getting out of debt which is where most people start.

Fucking don't!
Suffer for a bit to live better later!
Live in your car!
Live in a tent!
Put your shit in a storage shed!
Get a gym membership in order to shower!
Save like a mother fucker to get ahead!
Ride a bike until you can buy a car outright or take the bus!
Don't tell me It can't work because I am a living example!

I literally lived like this through my 20s and I am now retired in my 50s!
Everyone laughed at me.
Called me a loser, degenerate and told me to grow up.
Now I own everything I have!
House
Car
No debt
Savings

They are all hopelessly up to their eyeballs in stress and debt with no end in sight!
I am not bragging, I am trying to help anyone willing to listen!
It can and does work! You just have to be willing to live with less for awhile!

>Do you realize how unreliable public transport is? Do you realize the type of people that use it?
To be fair that depends a lot on where you are.

europe may be completely fucked but at least we have good public transport

Unless you’re just arguing hypotheticals, the info from your posts indicate you commute 45 minutes to a job that pays 15k/yr while consuming $600 worth of meds a month. If this is the case, you did a whole lot of things wrong.

When people lose their jobs it's easy to fall into either homelessness or permanent NEETdom. You can't just get a new job the next week. It's not the 60s anymore.

> be 48
I remember that. younglings, learn to do a modicum of research ffs.

In short, 10% is possible if inflation gets out of hand. Trump's tariffs, the brexit, and eastern europe not having an economy worth a damn may trigger deflation, who knows.

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America could if we were less spread out and had no niggers

I'm a millenial and I ride over 5,000 miles a year on my bicycle, which cost about $3000. Maintenance is a tenth the cost of a car and i have successfully ridden from my house in the sticks, up and down 400 feet of elevation change, in every weather condition.

Cars are unnecessary. Free yourself from the cager mentality, and you have no problems financially. I bank a solid 40% of every paycheck because i live frugally and have no expenses. At 25 I have about $18,000 saved in an IRA, but I'm probably in the top 10% of my peers.

Yes, that's true. What's your point?

Try waking up earlier? Adjusting your hours? Finding a job that will let you start later?

Why is it that I can come up with a solution to all of your excuses for why you cant do something?