In today's class we watched a video recommended by Alexa titled, "Why so many Americans in the middle class have no savings." I thought it was really interesting because it focused on Neal Gabler's own personal experience- someone who is seen as a well-respected and successful individual. The video covered the concept of "financial fragility". A clear example of this would be when individuals were asked, "Could you afford a $400 emergency?" and 47% of respondents said they couldn't meet that requirement without borrowing money or having to sell something.
Gabler revealed that he was frequently broke in the past. I was surprised to hear this, as he had shown so many outward signs of success. This video was very eye-opening, and revealed the harsh reality that many middle class Americans face today.
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