Mayorquimby's take on the cost of living in New Jersey

Had an argument with the parents who stomp up and down that everything is fine and I'm wrong blah blah blah. One is on social and the stepfather is both on social AND gets a chunky pension. Here's the e-mail I sent them:

Quote:

This is what it costs one person living alone to survive in NJ in 2010 (minimum) - assuming you OWN a house outright (no mortgage):

$4,000 - property taxes
$1,500 - home owner's insurance
$4,000 - oil heat or $1,000 if gas
$500 - cooking gas
$800 - electricity
$3,500 - train-fare to work - that's WITH monthly discount pass (Jersey costs a ****LOAD - about $20 a day)
$3,000 - food
$1,200 - car insurance
$1,200 - gas and servicing/registration for car
$7,500 - misc. personal expenses (beer with friends, vacation, gym membership, Masonic Lodge dues, clothes, softball, flowers for girlfriend, wine, cigars/cigarettes, Mars bars, video games, dvd's, movie tix, Yanks tix etc.)
$1,000 - cable tv/internet
$750 - cellphone
$5,000 - IRA contributions
$1,500 - Dentist/medical ****
$1,000 - misc.

GRAND TOTAL: $33,000 - $37,000 AFTER TAX OUTLAY (depending on your heating system) and that includes ZERO INTEREST on debt, car loans, credit cards, no medical emergencies, surgeries, no saving for a wedding ring or college for your kids, alimony, major home repairs, new bathroom, kitchen cabinets, carpet, flooring, repair for your ukulele, a NEW CAR (since the old one will break eventually) etc. so you really should throw another $5K on top at LEAST.

That means - a single person needs to make about $70K or more just to SURVIVE WITH A PAID OFF HOUSE!!!! The avg. household income in the US (that's mostly TWO incomes) is what - $50K BEFORE TAXES?

And ALL of this assumes cost of living (price of oil, food etc.) will remain stable or go down. Let me know if I missed anything. I'm sure I did.

Bernanke's solution to this insane problem is to - borrow money at interest so we can MAINTAIN unsustainably high prices so we can enjoy exponentially more compounding debt interest which will reduce our collective purchasing power?????!!!!!

If this guy isn't the biggest, most colossal failure of an intellect I have ever witnessed I don't know what or who is.