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"The Reality Is, Half Of Americans Can’t Afford To Write A $500 Check"

Matt_ADMIN_Matt_ADMIN_ Administrator

The CEO of Assurant appeared on Bloomberg TV to explain why demand for his services is likely to increase: the chief executive of the mobile phone insurer said he expects a surge in demand as carriers charge customers more to replace their devices. “If you think back five years ago, you as a consumer didn’t know how much that phone cost, you thought it was free or close to free,” Assurant's Alan Colberg said Monday. “Now you’re paying $600, that’s a lot. So we’ve actually seen the attachment rate, or the number of people buying the product, going up a little bit in the last couple of years.”

He then proceeded to give Bloomberg his traditional sales pitch: Assurant is counting on growth at its business covering phones and appliances to help counter a decline in the segment that insures foreclosed homes for lenders. While improvement in the real estate market has limited the number of vacant homes, Colberg said there are still many cash-strapped consumers.

It is what he said next that caught our attention: “The reality is, half of Americans can’t afford to write a $500 check,” Colberg said. He spun that stunning statistic by saying that when US customers sign up for a cellular plan, they’re willing to buy protection in case “they lose that phone or something happens to it.”

http://www.zerohedge.com/news/2017-03-06/half-americans-cant-write-500-check

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"...Say, 'GOD is sufficient for me.' In Him the trusters shall trust." (Quran 39:38)

Comments

  • mrpops09_CMOD_mrpops09_CMOD_ Chief Moderator
    Half of americans are idiots that live well outside of their means. 98% of americans that: graduate high school and do NOT have children out of wedlock are proven to be in the middle class. It's not hard to make it here. Being poor is a result of poor choices. I am sorry if the truth offends you (I'm not)
    Ephesians 6:12 For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.
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