Nearly half of Americans would have trouble finding $400 to pay for an emergency. I’m one of them.
Since 2013, the Federal Reserve Board has conducted a survey to “monitor the financial and economic status of American consumers.” Most of the data in the latest survey, frankly, are less than earth-shattering: 49 percent of part-time workers would prefer to work more hours at their current wage; 29 percent of Americans expect to earn a higher income in the coming year; 43 percent of homeowners who have owned their home for at least a year believe its value has increased. But the answer to one question was astonishing. The Fed asked respondents how they would pay for a $400 emergency. The answer: 47 percent of respondents said that either they would cover the expense by borrowing or selling something, or they would not be able to come up with the $400 at all. Four hundred dollars! Who knew? Well, I knew. I knew because I am in that 47 percent.
I know what it is like to have to juggle creditors to make it through a week. I know what it is like to have to swallow my pride and constantly dun people to pay me so that I can pay others. I know what it is like to have liens slapped on me and to have my bank account levied by creditors. I know what it is like to be down to my last $5—literally—while I wait for a paycheck to arrive, and I know what it is like to subsist for days on a diet of eggs. I know what it is like to dread going to the mailbox, because there will always be new bills to pay but seldom a check with which to pay them. I know what it is like to have to tell my daughter that I didn’t know if I would be able to pay for her wedding; it all depended on whether something good happened. And I know what it is like to have to borrow money from my adult daughters because my wife and I ran out of heating oil.
Denne historien er fra May 2016-utgaven av The Atlantic.
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Denne historien er fra May 2016-utgaven av The Atlantic.
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Catching the Carjackers - On the road with an elite police unit as it combats a crime wave
On August 7, 2022, Shantise Summers arrived home from a night out with friends around 2:40 a.m. As she walked from her car toward her apartment in Oxon Hill, a Maryland neighborhood just southeast of Washington, D.C., she heard footsteps behind her. She turned and saw two men in ski masks. One put a gun to her face; she could feel the metal pressing against her chin. He demanded her phone, wallet, keys, and Apple Watch. She quickly handed them over, and they drove off in her 2019 Honda Accord.
The Most Remote Place in the World - Point Nemo is Earth's official "middle of nowhere." A lot seems to be going on there.
It’s called the “longest-swim problem”: If you had to drop someone at the place in the ocean farthest from any speck of land—the remotest spot on Earth—where would that place be? The answer, proposed only a few decades ago, is a location in the South Pacific with the coordinates 48 52.5291ᤩS 123 23.5116ᤩW: the “oceanic point of inaccessibility,” to use the formal name. It doesn’t get many visitors. But one morning last year, I met several people who had just come from there.
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"The average human lifespan," Oliver Burkeman begins his 2021 megabest seller, Four Thousand Weeks: Time Management for Mortals, "is absurdly, terrifyingly, insultingly short." In that relatively brief period, he does not want you to maximize your output at work or optimize your leisure activities for supreme enjoyment. He does not want you to wake up at 5 a.m. or block out your schedule in a strictly labeled timeline.
Washington's Nightmare - Donald Trump is the tyrant the first president feared.
Last November, during a symposium at Mount Vernon on democracy, John Kelly, the retired Marine Corps general who served as Donald Trump's second chief of staff, spoke about George Washington's historic accomplishments— his leadership and victory in the Revolutionary War, his vision of what an American president should be. And then Kelly offered a simple, three-word summary of Washington's most important contribution to the nation he liberated.
The Elite College Students Who Can't Read Books - To read a book in college, it helps to have read a book in high school.
Nicholas Dames has taught Literature Humanities, Columbia University's required greatbooks course, since 1988. He loves the job, but it has changed. Over the past decade, students have become overwhelmed by the reading, College kids have never read everything they're assigned, of course, but this feels different. Dames's students now seem bewildered by the thought of finishing multiple books a semester. His colleagues have noticed the same problem.
What Zoya Sees
Long a fearless critic of Israeli society, since October 7 Zoya Cherkassky-Nnadi has made wrenching portraits of her nation's sufferingand become a target of protest.
Malcolm Gladwell, Meet Mark Zuckerberg
The writer’ insistence on ignoring the web is an even bigger blind spot today than it was when The Tipping Point came out.
Alan Hollinghurst's Lost England
In his new novel, the present isnt much better than the past—and its a lot less sexy.
Scent of a Man
In a new memoir, Al Pacino promises to reveal the person behind the actor. But is he holding something back?
THE RIGHT-WING PLAN TO MAKE EVERYONE AN INFORMANT
In Texas and elsewhere, new laws and policies have encouraged neighbors to report neighbors to the government.
