|
Printer-friendly format Email this thread to a friend Bookmark this thread |
This topic is archived. |
Home » Discuss » General Discussion |
Atman (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 07:55 AM Original message |
CNN reporting that the AVERAGE checking account has a $5,200 balance. |
Printer Friendly | Permalink | | Top |
a kennedy (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 07:56 AM Response to Original message |
1. Then we're so below average we're in poverty..... |
Printer Friendly | Permalink | | Top |
Octafish (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:46 AM Response to Reply #1 |
25. '' |
Printer Friendly | Permalink | | Top |
trueblue2007 (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 05:07 PM Response to Reply #1 |
64. CNN... IS...LYING..... I can't imagine there are very many people here with that kinda $$$$ |
Printer Friendly | Permalink | | Top |
stevenleser (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 05:53 PM Response to Reply #64 |
72. Its not a lie at all. It is exactly what you would expect in the wealth desparity situation we have |
Printer Friendly | Permalink | | Top |
mdmc (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 05:08 PM Response to Reply #1 |
66. .. |
Printer Friendly | Permalink | | Top |
Fumesucker (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 07:56 AM Response to Original message |
2. I wonder what the median balance is? |
Printer Friendly | Permalink | | Top |
stillwaiting (591 posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:07 AM Response to Reply #2 |
12. It's the only balance that matters due to the skewed income and wealth inequality in our country. |
Printer Friendly | Permalink | | Top |
stevenleser (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:49 AM Response to Reply #12 |
29. Exactly right both of you. I would bet median is less than $300 nt |
Printer Friendly | Permalink | | Top |
JoePhilly (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 09:38 AM Response to Reply #2 |
39. My first thought as well ... the average for this is useless. |
Printer Friendly | Permalink | | Top |
PETRUS (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 10:04 AM Response to Reply #2 |
41. That's the question to ask. |
Printer Friendly | Permalink | | Top |
redqueen (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 06:03 PM Response to Reply #2 |
75. Exactly... they wouldn't dare publish that.(nt) |
Printer Friendly | Permalink | | Top |
eppur_se_muova (1000+ posts) Send PM | Profile | Ignore | Tue Nov-08-11 01:57 PM Response to Reply #2 |
94. Yes, that's the problem exactly. Plus they're probably inculding small business accounts. nt |
Printer Friendly | Permalink | | Top |
XemaSab (1000+ posts) Send PM | Profile | Ignore | Tue Nov-08-11 02:04 PM Response to Reply #2 |
98. So much this |
Printer Friendly | Permalink | | Top |
SlipperySlope (1000+ posts) Send PM | Profile | Ignore | Tue Nov-08-11 06:20 PM Response to Reply #2 |
99. The MEDIAN checking account balance was $3100 in 2000 |
Printer Friendly | Permalink | | Top |
hobbit709 (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 07:57 AM Response to Original message |
3. I certainly don't come close |
Printer Friendly | Permalink | | Top |
mrs_p (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 07:58 AM Response to Original message |
4. one account doesn't - |
Printer Friendly | Permalink | | Top |
mmonk (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 07:58 AM Response to Original message |
5. Not on average. |
Printer Friendly | Permalink | | Top |
trotsky (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:00 AM Response to Original message |
6. Misleading stats. |
Printer Friendly | Permalink | | Top |
Cirque du So-What (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:00 AM Response to Original message |
7. This story should prove to the vast majority of viewers |
Printer Friendly | Permalink | | Top |
justabob (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:39 AM Response to Reply #7 |
23. no kidding |
Printer Friendly | Permalink | | Top |
stevenleser (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 04:30 PM Response to Reply #7 |
56. Why? They are probably exactly right. The problem is the mean isnt what should be looked at. |
Printer Friendly | Permalink | | Top |
seabeyond (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:02 AM Response to Original message |
8. 5k can go pretty quickly. but depends on all the other accounts holding $. nt |
Printer Friendly | Permalink | | Top |
Atman (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:14 AM Response to Reply #8 |
15. Of course it can, especially if it's all you have. |
Printer Friendly | Permalink | | Top |
HereSince1628 (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:03 AM Response to Original message |
9. I've kept my checking balance low to limit my exposure |
Printer Friendly | Permalink | | Top |
htuttle (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:06 AM Response to Original message |
10. Three homeless guys and Bill Gates get into an elevator... |
Printer Friendly | Permalink | | Top |
marmar (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:08 AM Response to Reply #10 |
13. Exactly. |
Printer Friendly | Permalink | | Top |
eppur_se_muova (1000+ posts) Send PM | Profile | Ignore | Tue Nov-08-11 01:59 PM Response to Reply #10 |
95. No, you have to word it as "the average elevator rider" ... |
Printer Friendly | Permalink | | Top |
safeinOhio (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:07 AM Response to Original message |
11. If you include money market accounts |
Printer Friendly | Permalink | | Top |
TBF (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:09 AM Response to Original message |
14. Why would you keep that much in checking? |
Printer Friendly | Permalink | | Top |
LiberalEsto (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:18 AM Response to Original message |
16. Hah! |
Printer Friendly | Permalink | | Top |
Imajika (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:21 AM Response to Original message |
17. Big banks really don't care if small depositers leave... |
Printer Friendly | Permalink | | Top |
KharmaTrain (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:46 AM Response to Reply #17 |
26. The "Dirty Secret"... |
Printer Friendly | Permalink | | Top |
Imajika (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 10:18 AM Response to Reply #26 |
48. Nah, that isn't really true... |
Printer Friendly | Permalink | | Top |
RobinA (1000+ posts) Send PM | Profile | Ignore | Wed Nov-09-11 08:25 AM Response to Reply #26 |
103. Well.. |
Printer Friendly | Permalink | | Top |
hobbit709 (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:23 AM Response to Original message |
18. I have more money in my wallet than I have in my checking account. |
Printer Friendly | Permalink | | Top |
Cid_B (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:25 AM Response to Original message |
19. That is right about my minimum... |
Printer Friendly | Permalink | | Top |
Hassin Bin Sober (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 04:39 PM Response to Reply #19 |
57. That's because you are a Captain of Industry. |
Printer Friendly | Permalink | | Top |
Cid_B (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 05:55 PM Response to Reply #57 |
73. Maybe I should add it to my business card? |
Printer Friendly | Permalink | | Top |
Turbineguy (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:32 AM Response to Original message |
20. They can lend out |
Printer Friendly | Permalink | | Top |
Atman (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:32 AM Response to Original message |
21. See post #14. |
Printer Friendly | Permalink | | Top |
Horse with no Name (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:35 AM Response to Original message |
22. I don't believe this propaganda. |
Printer Friendly | Permalink | | Top |
stevenleser (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:47 AM Response to Reply #22 |
27. No, it is probably correct. It is an artifact of the disparity of wealth that the mean is skewed |
Printer Friendly | Permalink | | Top |
rurallib (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:43 AM Response to Original message |
24. On average, me and Warren Buffet have $20 billion |
Printer Friendly | Permalink | | Top |
stevenleser (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:48 AM Response to Reply #24 |
28. Exactly, that is what is going on here. We 99% are averaged with the 1% and the result is skewed nt |
Printer Friendly | Permalink | | Top |
dmallind (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 10:13 AM Response to Reply #24 |
45. Not, I suspect, in checking however. nt |
Printer Friendly | Permalink | | Top |
lunatica (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:49 AM Response to Original message |
30. After my bills are paid my average is a couple of hundred dollars in a good month |
Printer Friendly | Permalink | | Top |
Liberal In Texas (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:52 AM Response to Original message |
31. So Bill Gates walks into a bar... |
Printer Friendly | Permalink | | Top |
Liberal_Stalwart71 (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:58 AM Response to Original message |
32. Man, my account is ZERO!!! |
Printer Friendly | Permalink | | Top |
Proud Liberal Dem (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 09:00 AM Response to Original message |
33. Wow! |
Printer Friendly | Permalink | | Top |
Ship of Fools (899 posts) Send PM | Profile | Ignore | Mon Nov-07-11 09:05 AM Response to Original message |
34. I used to have 10K on hand at all times. It was my zero sum. |
Printer Friendly | Permalink | | Top |
Shagbark Hickory (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 09:09 AM Response to Original message |
35. Yes. n/t |
Printer Friendly | Permalink | | Top |
teenagebambam (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 09:30 AM Response to Original message |
36. Not even in checking and savings combined :( |
Printer Friendly | Permalink | | Top |
dembotoz (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 09:32 AM Response to Original message |
37. once again i remain below average |
Printer Friendly | Permalink | | Top |
kickysnana (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 09:35 AM Response to Original message |
38. Dicrect Deposit Social Security can do charge backs... |
Printer Friendly | Permalink | | Top |
FarCenter (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 10:04 AM Response to Original message |
40. It depends on how you define "checking". Does it include Money Market Funds? |
Printer Friendly | Permalink | | Top |
mfcorey1 (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 10:07 AM Response to Original message |
42. This just shows how out of touch CNN is with the American public. It is more like $120.00. |
Printer Friendly | Permalink | | Top |
RegieRocker (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 10:11 AM Response to Original message |
43. Not if you remove the 1% from the stupid statistic. |
Printer Friendly | Permalink | | Top |
stevenleser (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 05:11 PM Response to Reply #43 |
68. Which is basically what happens when you use the median instead of the mean. The outliers become |
Printer Friendly | Permalink | | Top |
dmallind (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 10:12 AM Response to Original message |
44. ALL my non-investment cash is in checking. |
Printer Friendly | Permalink | | Top |
Rockholm (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 10:16 AM Response to Original message |
46. Yes. |
Printer Friendly | Permalink | | Top |
Historic NY (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 10:16 AM Response to Original message |
47. Pension & SS checks together maybe for a short time.. |
Printer Friendly | Permalink | | Top |
ceile (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 10:18 AM Response to Original message |
49. That's funny! |
Printer Friendly | Permalink | | Top |
madmom (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 10:37 AM Response to Original message |
50. Seems to me they are pushing 'how much this doesn't matter to them' an |
Printer Friendly | Permalink | | Top |
Beacool (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 10:41 AM Response to Original message |
51. The average checking account where, Palm Beach? |
Printer Friendly | Permalink | | Top |
onecent (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 10:48 AM Response to Original message |
52. No I don't have $5,000 in checking nor do ANY of my |
Printer Friendly | Permalink | | Top |
Capitalocracy (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 10:48 AM Response to Original message |
53. Not only do I not usually have $5,200 in my bank account... |
Printer Friendly | Permalink | | Top |
mopinko (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 10:53 AM Response to Original message |
54. a lot of them require a balance |
Printer Friendly | Permalink | | Top |
nadinbrzezinski (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 10:58 AM Response to Original message |
55. Nope |
Printer Friendly | Permalink | | Top |
Xithras (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 04:43 PM Response to Original message |
58. Is that averaged over the month? Peak? Minimum? |
Printer Friendly | Permalink | | Top |
RebelOne (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 04:46 PM Response to Original message |
59. Nope. My balance as of right now in my checking is $2,500. |
Printer Friendly | Permalink | | Top |
Enrique (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 04:51 PM Response to Original message |
60. remember they found that one guy's ATM receipt? |
Printer Friendly | Permalink | | Top |
YellowRubberDuckie (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 04:52 PM Response to Original message |
61. Seems high. |
Printer Friendly | Permalink | | Top |
stevenleser (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 05:09 PM Response to Reply #61 |
67. Not if you understand basic statistics and the fact that we have a wealth desparity issue in this |
Printer Friendly | Permalink | | Top |
Liberal_in_LA (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 04:54 PM Response to Original message |
62. 1 person has 100,000 balance, 19 others have $100, average = $5,095 |
Printer Friendly | Permalink | | Top |
stevenleser (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 05:04 PM Response to Reply #62 |
63. Yes, while the Median in your example is $100. The person with $100K represents the top 5% in your |
Printer Friendly | Permalink | | Top |
Blue_Tires (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 05:08 PM Response to Original message |
65. I want THAT checking account.... |
Printer Friendly | Permalink | | Top |
baldguy (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 05:12 PM Response to Original message |
69. FDIC insures up to $250K per account per bank. |
Printer Friendly | Permalink | | Top |
dems_rightnow (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 06:56 PM Response to Reply #69 |
85. That's just not true |
Printer Friendly | Permalink | | Top |
baldguy (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 07:08 PM Response to Reply #85 |
86. Yes, they do. |
Printer Friendly | Permalink | | Top |
dems_rightnow (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:25 PM Response to Reply #86 |
89. Dude, c'mon |
Printer Friendly | Permalink | | Top |
baldguy (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 08:33 PM Response to Reply #89 |
90. Hate to tell you, but most checking accounts in America are non-interest bearing accounts. |
Printer Friendly | Permalink | | Top |
ieoeja (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 05:13 PM Response to Original message |
70. I currently do. |
Printer Friendly | Permalink | | Top |
RainDog (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 05:45 PM Response to Original message |
71. the best reason to switch is to put your money to work in your local community |
Printer Friendly | Permalink | | Top |
ribrepin (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 05:59 PM Response to Original message |
74. I have more than that in my credit union |
Printer Friendly | Permalink | | Top |
dionysus (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 06:05 PM Response to Original message |
76. remember, when you avergare richie rich's account into that, the number looks bigger. |
Printer Friendly | Permalink | | Top |
Blue_In_AK (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 06:07 PM Response to Original message |
77. Nope, nowhere near. |
Printer Friendly | Permalink | | Top |
ParkieDem (417 posts) Send PM | Profile | Ignore | Mon Nov-07-11 06:10 PM Response to Original message |
78. Average, maybe. Median, no. |
Printer Friendly | Permalink | | Top |
barbtries (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 06:16 PM Response to Original message |
79. pretty much no. |
Printer Friendly | Permalink | | Top |
quaker bill (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 06:16 PM Response to Original message |
80. On occasion |
Printer Friendly | Permalink | | Top |
Johonny (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 06:17 PM Response to Original message |
81. Yeah but don't they pay most of the bank fees |
Printer Friendly | Permalink | | Top |
trackfan (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 06:27 PM Response to Original message |
82. Mine seldom gets to four figures. |
Printer Friendly | Permalink | | Top |
UpInArms (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 06:33 PM Response to Original message |
83. what a joke! guess they were working out of the average |
Printer Friendly | Permalink | | Top |
notadmblnd (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 06:42 PM Response to Original message |
84. No, even back when I was in a better economic situation |
Printer Friendly | Permalink | | Top |
slor (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 07:18 PM Response to Original message |
87. I am happy when I have... |
Printer Friendly | Permalink | | Top |
Oldtimeralso (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 07:19 PM Response to Original message |
88. It is close to my balance... |
Printer Friendly | Permalink | | Top |
sarcasmo (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 09:01 PM Response to Original message |
91. It would be nice if we had 5200 in savings. |
Printer Friendly | Permalink | | Top |
a la izquierda (1000+ posts) Send PM | Profile | Ignore | Mon Nov-07-11 09:04 PM Response to Original message |
92. Nope, I don't have that... |
Printer Friendly | Permalink | | Top |
66 dmhlt (935 posts) Send PM | Profile | Ignore | Mon Nov-07-11 09:28 PM Response to Original message |
93. Would a LINK be too much to ask? |
Printer Friendly | Permalink | | Top |
Atman (1000+ posts) Send PM | Profile | Ignore | Wed Nov-09-11 06:23 AM Response to Reply #93 |
100. Would typing CNN.com be so difficult? |
Printer Friendly | Permalink | | Top |
truebrit71 (1000+ posts) Send PM | Profile | Ignore | Tue Nov-08-11 01:59 PM Response to Original message |
96. hahahahahahaha!!! |
Printer Friendly | Permalink | | Top |
marlakay (1000+ posts) Send PM | Profile | Ignore | Tue Nov-08-11 02:01 PM Response to Original message |
97. Wow I am lucky at end of month |
Printer Friendly | Permalink | | Top |
erodriguez (532 posts) Send PM | Profile | Ignore | Wed Nov-09-11 06:40 AM Response to Original message |
101. Maybe I'm the in the minority here. But $5K doesn't seem like a lot of money |
Printer Friendly | Permalink | | Top |
Vinca (1000+ posts) Send PM | Profile | Ignore | Wed Nov-09-11 08:02 AM Response to Original message |
102. I don't remember the last time I had $5,200 in the checking account. |
Printer Friendly | Permalink | | Top |
rox63 (1000+ posts) Send PM | Profile | Ignore | Wed Nov-09-11 08:33 AM Response to Original message |
104. Nope - I wish! |
Printer Friendly | Permalink | | Top |
DU AdBot (1000+ posts) | Thu Oct 17th 2024, 10:49 PM Response to Original message |
Advertisements [?] |
Top |
Home » Discuss » General Discussion |
Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators
Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.
Home | Discussion Forums | Journals | Store | Donate
About DU | Contact Us | Privacy Policy
Got a message for Democratic Underground? Click here to send us a message.
© 2001 - 2011 Democratic Underground, LLC