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Title: 26 Million Americans Are Now "Too Poor To Shop" Study Finds
Source:
Zero Hedge
URL Source: http://www.zerohedge.com/news/2016- ... -now-too-poor-shop-study-finds
Published: Jul 9, 2016
Author: Tyler Durden
Post Date: 2016-07-09 19:58:45 by U don't know me
Keywords: None
Views: 940
Comments: 6
26 Million Americans Are Now "Too Poor To Shop" Study Finds A new study finds that roughly 26 million Americans remain "too poor to shop". The study, performed by America's Research Group, found that about 26 million Americans work on average two or three jobs at a time which, when added together, nets just shy of $30,000 in annual income. All while supporting anywhere from two to four children. The chairman of ARG, Mr. Britt Beemer, said in an interview with the NY Post that he first started looking into data when he was tracking a different indicator. Beemer first started tracking a group and surveying roughly 15,000 people to determine who had not finished Christmas shopping in 2014. During that year, the number was 21 percent but recently ran as high as 29%. From there Beemer decided to analyze the data further and learned American's are seeing increasing numbers of fellow citizens who are simply just too poor to shop. Beemer told the Post: "The poorest Americans have stopped shopping, except for necessities" and "It's scary when you start to see things that you've never seen before"..."People are so pessimistic about their future" Just this past April we wrote: "most Americans' savings continue to decline, and millions of US households not only don't have any money left over to save away, but are forced to resort to credit to fund day to day expenses." Recall from January the piece from the Atlantic that review that weak state of American's finances. The Atlantic learned that nearly 50% of Americans were not in a position to find $400 to pay of a doctor visit without reaching out to friends So not only are 26 million Americans too poor to shop, there are also 2/3 of Americans who have no savings. "Various surveys that I have talked about in the past have found that more than 60 percent of all Americans are living to paycheck to paycheck, but I didn’t realize that things were quite this bad for about half the country. If you can’t even come up with $400 for an unexpected emergency room visit, then you are just surviving from month to month by the skin of your teeth. Unfortunately, about half of us are currently in that situation." As The NY Post details, retailers have blamed the weather, slow job growth and millennials for their poor results this past year, but a new study claims that more than 20 percent of Americans are simply too poor to shop. These 26 million Americans are juggling two to three jobs, earning just around $27,000 a year and supporting two to four children — and exist largely under the radar, according to America’s Research Group, which has been tracking consumer shopping trends since 1979. “The poorest Americans have stopped shopping, except for necessities,” said Britt Beemer, chairman of ARG. Beemer has been tracking this subgroup for two years, ever since his weekly surveys of 15,000 consumers picked up that 21 percent of consumers did not finish their Christmas shopping in 2014 due to being too busy working. That number grew to 29 percent last year, and Beemer dug in to learn more about them, calling them on holidays. He estimates that this group has swelled from 6 million households four years ago, because their incomes have not kept pace with expenses like medical costs. Nearly half of all Americans have not seen an increase in salary over the last five to seven years, and another 28 percent have seen their take-home pay reduced by higher medical insurance deductions or switching to part-time jobs, ARG found. “It’s scary when you start to see things that you’ve never seen before,” said Beemer. “People are so pessimistic about their future.” Most of those living on the edge — 68 percent are women between the ages of 28 and 38 — work in retail or in call centers, according to Beemer. Another sign that a chunk of the population has pulled back its spending is that discounters like Walmart and the Dollar Store have been “holding their own,” said Richard Church, managing director of Discern Securities. The story of the increasing difficulty facing Americans in maintaining their standard of living continues... even after almost 10 years of Federal Reserve market-based intervention.
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#1. To: U don't know me (#0)
But I will bet they have enough money to have many hundreds of dollars of tattoos, body piercing's, cell phones, cigs, beer, and other drugs. Even if their kids are barefoot in the snow. Si vis pacem, para bellum Those who beat their swords into plowshares will plow for those who don't Rebellion to tyrants is obedience to God. if you look around, we have gone so far down the the rat hole, the almighty is going to have to apologize to Sodom and Gomorrah, if we don't have a judgement come down on us. President Obama is the greatest hoax ever perpetrated on the American people. --Clint Eastwood "I am concerned for the security of our great nation; not so much because of any threat from without, but because of the insidious forces working from within." -- General Douglas MacArthur
Like the article said: except for the necessities. A government strong enough to impose your standards is strong enough to ban them. You have to love progressives running the show. We go from best place in the world to just another third world nations. I wonder how many of these people are illegal aliens? How many work for unreported cash so they can still get free government stuff? How many have major mentally issues that do not let them work a real job?
How many dropped out of high school? How many have been convicted of a felony? How many tested positive for drugs? Typical of the MSM -- Ignore the prior behavior. Just report the end result.
I thought Walmart was where they did shop well no matter there is still charity buy and swap
In Maryland I noticed a lot of Muslims making a recently only presence in the local Walmarts and Targets shopping. They stand out as new as the women hide their hair (and bodies) and some hide their faces behind a mask too. Must assume they got here the last year or more recently. I don't see them in normal grocery stores.
" 26 Million Americans Are Now "Too Poor To Shop" Study Finds "
#2. To: Stoner (#1)
tattoos, body piercing's, cell phones, cigs, beer, and other drugs.
#3. To: U don't know me (#0)
The study, performed by America's Research Group, found that about 26 million Americans work on average two or three jobs at a time which, when added together, nets just shy of $30,000 in annual income.
#4. To: Justified (#3)
#5. To: U don't know me (#0)
The story of the increasing difficulty facing Americans in maintaining their standard of living continues..
#6. To: U don't know me (#0)
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