Americans' Financial Stress

Episode Transcript

Speaker 1 (00:00):
Rory O'Neil back with us covering a couple of things.
And we were just chatting Rory with Courtney Donaho at
Bloomberg about various stresses on Americans and people are really
down on economic stressors. We're talking about what are the
big ones keeping people up at night.

Speaker 2 (00:17):
Well, look, we got the new report from Bank Great
this morning. It's on credit card debt and finds that
about half of Americans have credit card debt that they
carry over from month to month. Not everyone is paying
their bills off in full at the end of the month,
which you should be doing to avoid some incredibly high
interest rates. At about a quarter of those people say

(00:39):
they're never going to get out of credit card debt.
They just don't see any way out from it because again,
those higher rates make it almost impossible to pay off right.

Speaker 1 (00:50):
Also, there's a new list out on the worst places
for first time home buy It's not easy anywhere. What
are the worst places, Rory.

Speaker 2 (00:58):
We're all in California. Really, to shortcut this for you,
it's every California city is at the bottom of the barrel,
and largely because of the high cost of living that's
already there. I'm trying to go through the numbers now
to see if I can find Omaha on this list
that comes from a wallet hub looking at the least
and most affordable. The most affordable in the country is

(01:21):
Palm Bay, Florida that's near Cape Canaveral. Omaha comes in
pretty good on this list of three hundred, ranking it
at number sixty six to zero on the list.

Speaker 1 (01:30):
Okay, now, the other item you're covering I really want
to get to is I'm going to say weird you
want to be polite. You can say unusual social trends
of the twenty somethings. Everybody forever has been taught and
it's just a custom that when you answer the phone,

(01:50):
you say hello. Now you're saying that these kids expect
if you call them, they expect you to be the
first to speak. Is that right?

Speaker 2 (02:00):
Right you call, you talk? Is how this is turning
out for gen Z Well a couple of factors, but
one of them is that because of all those spam calls,
you know, you get those calls when you say nothing
and then you say hello, and then the robot starts
talking and giving you a quota spiel. So that's one
way that if they don't talk, then there is that

(02:22):
a computer or a person. So that's that's one excuse
that's out there. But look, you know, Alexander Graham Bell
used to say a holy a holy answering the phone call, right,
so we morphed into hello. But now we're morphing into
something else, perhaps where it's the person who instigates the
call should instigate the conversation as well.

Speaker 1 (02:42):
Well, okay, I go, mine is go? I think.

Speaker 2 (02:49):
I do you never anyone?

Speaker 1 (02:51):
What do you want? Yeah, here's this, don't waste my time,
that's a question.

Speaker 2 (02:57):
But I mean, if you call Italian household you get prayer.
If you call the Hispanic households, you get diga ma
you know, talk to me and let's go. So you
can get different responses.

Speaker 1 (03:06):
Yeah, m rudder of Godfather. And these kids are this
is concerning uh A friendship and AI. Right.

Speaker 2 (03:15):
Yeah, Look, fewer kids are out riding their bikes, Fewer
kids are out playing in the yard or playing with
their neighbors. They're upstairs in their room on the computer
all the time, or even you know, on the couch
in the living room. But maybe they're using chat, GPT
in programs like that for their homework, but it's spilled over.
Now they're sort of asking these computer programs about things

(03:35):
they normally would ask their parents about in awkward conversations,
or to avoid the awkward conversations. Uh. And they're finding
that they keep turning to these chat bots and they're
becoming close friends. Now for the adolescents and teens, that's concerning.
That shows the failure of relationships with parents.

Speaker 1 (03:55):
Yeah, that is. That's sad now as I helpe that
some minority hey r, thanks always don't have it with us.
You bet