Earlier quoted context omitted.
> I don't really get the correlation between household income and programming experience in high school. > Their parents can't afford a laptop? Holy crap, the amount of privilege shown off in just two sentences is absolutely astounding. This may come as a shock to you, but a very significant number of people don't have a couple hundred dollars to buy a low-end used laptop. 40% of Americans would struggle to come up w…
> 40% of Americans would struggle to come up with $400 for an emergency expense [0], let alone save $400 for a laptop. It actually doesn't say that, it says they don't have $400 in cash equivalents but may be able to produce it by selling "assets". So a person who keeps all their savings in CDs or investments also counts, although only for expenses you can't put on credit cards.
They often take payday loans, mortgaging their next minimum-wage paycheck; since the next paycheck minus payment no longer covers their regular living expenses, they take another predatory loan or pawn another heirloom. 80% of people who take a payday loan have to renew it because they can't repay it. I have a deep personal dislike for Dave Ramsey, but he does a good job of explaining how even minor emergency expenses can lead to a cycle of debt and further despair. (https://www.daveramsey.com/blog/get-out-payday-loan-trap)
There is so much more instability and precarity in this country than most PMC people can imagine.