T1B

PRESS RELEASE

Total Household Debt Rises for 19th Straight Quarter, Now Nearly $1 Trillion Above Previous Peak

Credit Card Delinquencies Rise as User Demographics Shift

May 14, 2019
NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report
on Household Debt and Credit, which shows that total household debt increased by $124 billion (0.9%) to $13.67 trillion
in the first quarter of 2019. It was the 19th consecutive quarter with an increase, and the total is now $993 billion
higher than the previous peak of $12.68 trillion in the third quarter of 2008. The Report is based on data from the
New York Fed’s Consumer Credit Panel, a nationally representative sample...

https://www.newyorkfed.org/newsevents/n ... 9/20190514

https://www.newyorkfed.org/microeconomics/hhdc

-----------------------------------

Nationally, the debt was 19.5 trillion dollars when Donald took over.
Now it is 22.3 trillion.
On track to be over 24 trillion next year.
This trend shows no end in sight.

https://www.thebalance.com/national-deb ... ts-3306287

https://www.usdebtclock.org/

-----------------------------------

Households are corkscrewed into the ground worse than in '08.
The nation is corkscrewed into the ground much worse than in '08.

How does this jibe with supposedly being int he midst of "the greatest economy in the history of the country?"




Thoughts on this?

More Orange Koolaid Please.

Sin,
88BrokenJoes

More college loans & over priced mortgages kept artificially high by banks who often sit on homes instead of putting them on the market right away.

We can use the thread to bash Trump, because he deserves it and is a monumental failure, however the issue encompasses much more than just him.

Almost nobody in Washington (who is in a position to try to do something) realistically speaks about the national debt issue.
It is the proverbial elephant in the room.

But the household debt issue is also a major concern.
Folks are not doing well.
Worse than in '08.

A good question might be why do home mortgages require a much higher percentage of take home earnings compared to those of our parents?

Joe in PB wrote: ↑Wed Jun 12, 2019 2:14 am A good question might be why do home mortgages require a much higher percentage of take home earnings compared to those of our parents?

Because you traded in worker's rights for a bag of magic beans, you moron.

Stick to what you know, posting shouldered binoculars photos dipshit.

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Joe in PB wrote: ↑Wed Jun 12, 2019 2:49 am Stick to what you know, posting shouldered binoculars photos dipshit.

Sent from my SM-N910V using Tapatalk

Nice white flag you kleptocratic cock sucking douche.

Shlomart Ben Yisrael wrote: ↑Wed Jun 12, 2019 2:45 am

Joe in PB wrote: ↑Wed Jun 12, 2019 2:14 am A good question might be why do home mortgages require a much higher percentage of take home earnings compared to those of our parents?

Because you traded in worker's rights for a bag of magic beans, you moron.

It has fukk-all to do with worker's rights. Workers have more rights than they ever have.

It has to do with excessive regulation, lax loan practices, and the idea that a family of 3.5 needs a 4 bedroom, 3 bath, 3 car garage, 3500 sq ft home. And in most towns around me, they want minimum 1, sometimes 2 acre lots.

We haven't learned a fukking thing from the last crash.

And you can't lay it all on TGOF. But he does deserve part of the blame. If the dems had a clue, they'd pound Trump on the debt issue, but TDS is a hell of a drug. It is hard to shake the impeachment thing. There is also the problem that the party of free shit for all might have a tough time pointing out that we're spending too much.

smackaholic wrote: ↑Wed Jun 12, 2019 11:45 am

Shlomart Ben Yisrael wrote: ↑Wed Jun 12, 2019 2:45 am

Joe in PB wrote: ↑Wed Jun 12, 2019 2:14 am A good question might be why do home mortgages require a much higher percentage of take home earnings compared to those of our parents?

Because you traded in worker's rights for a bag of magic beans, you moron.

It has fukk-all to do with worker's rights. Workers have more rights than they ever have.

It has to do with excessive regulation, lax loan practices, and the idea that a family of 3.5 needs a 4 bedroom, 3 bath, 3 car garage, 3500 sq ft home. And in most towns around me, they want minimum 1, sometimes 2 acre lots.

We haven't learned a fukking thing from the last crash.

And you can't lay it all on TGOF. But he does deserve part of the blame. If the dems had a clue, they'd pound Trump on the debt issue, but TDS is a hell of a drug. It is hard to shake the impeachment thing. There is also the problem that the party of free shit for all might have a tough time pointing out that we're spending too much.

If you really think this is true, you might want to check the historical ratio of CEO to worker compensation. You might adjust your take. Or probably not.

Those numbers are irrelevant with large companies. If the guy on top had his pay whacked and it was evenly distributed among the employees, I can't imagine it would change their lives.

You're a numbers guy, mikey. Can you show evidence that it would?

Walmart CEO made 24million last year.

Walmart employs 1.5 mil in US.

Make him work for free and everyone gets about 15 bucks for the year.

GM's union thugs, who make pretty fair money, for the most part, would get a whopping 130 dollar raise, if their CEO was in servitude

While Mikey's point is true, they do have stock holders meetings where CEO compensation is or can be discussed & revised, certainly pertaining to bonuses.

The median price for a home in San Diego is over half a million dollars and it is either tiny or a dump. The same is true in the DC metro area and in many urban centers. Good if you got in early, not so good otherwise, especially for young college graduates with student loan debt.

Another factor is my mother didn't have to work a paying job, and she was always there as the family was growing up. These days most parents need to work paying jobs to afford a home, condo etc, and parents are stretched thin, which is likely a contributing factor in the increase in school shootings the last couple decades.

Banks have been artificially propping up home prices by keeping some off the market, which was evident in San Diego after the housing crash.



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smackaholic wrote:Walmart CEO made 24million last year.

Walmart employs 1.5 mil in US.

Make him work for free and everyone gets about 15 bucks for the year.

Good points.

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smackaholic wrote: ↑Wed Jun 12, 2019 2:12 pm Walmart CEO made 24million last year.

Walmart employs 1.5 mil in US.

Make him work for free and everyone gets about 15 bucks for the year.

You forgot the bloodsucking shareholders demanding their profits. When they get factored in you can add another 13.5 billion to the pile in dividend income alone. If you simply allocate 7 billion for raises, now you are talking 4600 or so per worker. Which is a fair boost. Of course they wouldn't even have to touch divedends. They could simply allocate the 20 BILLION DOLLARS they have been using for stock buybacks for employee raises, training and retention.

smackaholic wrote: ↑Wed Jun 12, 2019 11:45 am Workers have more rights than they ever have.

Lol, you have to be joking.

BSmack wrote: ↑Wed Jun 12, 2019 7:43 pm

smackaholic wrote: ↑Wed Jun 12, 2019 2:12 pm Walmart CEO made 24million last year.

Walmart employs 1.5 mil in US.

Make him work for free and everyone gets about 15 bucks for the year.

You forgot the bloodsucking shareholders demanding their profits. When they get factored in you can add another 13.5 billion to the pile in dividend income alone. If you simply allocate 7 billion for raises, now you are talking 4600 or so per worker. Which is a fair boost. Of course they wouldn't even have to touch divedends. They could simply allocate the 20 BILLION DOLLARS they have been using for stock buybacks for employee raises, training and retention.

Kelpocrates always need more.

Screw_Michigan wrote: ↑Wed Jun 12, 2019 8:42 pm

smackaholic wrote: ↑Wed Jun 12, 2019 11:45 am Workers have more rights than they ever have.

Lol, you have to be joking.

He's a middle-of-the-road, just-barely-passing-grade stiff.

America celebrates unchallenging mediocrity.

smackaholic wrote: ↑Wed Jun 12, 2019 11:45 am If the dems had a clue, they'd pound Trump on the debt issue, but TDS is a hell of a drug. It is hard to shake the impeachment thing. There is also the problem that the party of free shit for all might have a tough time pointing out that we're spending too much.

Nobody gives a flying fuck about the debt other than GOPtards when a liberal is in the White House. It's a losing issue to anyone with half a brain.

Makes it easier for the grifters to grift. That our education system doesn’t work is a feature not a bug for the kleptocrates and their 88BrokenJoes.

Kierland wrote: ↑Wed Jun 12, 2019 10:19 pm Makes it easier for the grifters to grift. That our education system doesn’t work is a feature not a bug for the kleptocrates and their 88BrokenJoes.

Yep. GOPers especially in the South have historically opposed increased education spending not because it's "throwing money at a problem" but because they didn't want tax dollars benefiting balcks.

But we love our Blacks.

Sin,
StupidSam

Kierland wrote: ↑Wed Jun 12, 2019 10:41 pm But we love our Blacks.

Sin,
StupidSam

He's got a point. Boston is by far the most racist major city in America and it's not in the South. But the south is still the south.

Shlomart Ben Yisrael wrote: ↑Wed Jun 12, 2019 2:45 am

Joe in PB wrote: ↑Wed Jun 12, 2019 2:14 am A good question might be why do home mortgages require a much higher percentage of take home earnings compared to those of our parents?

Because you traded in worker's rights for a bag of magic beans, you moron.

I love magic beans. They taste like candy.

Regarding individual household debt...


Americans vote for a president every four years and it seldom (if ever) really changes their own personal fortunes very much.

Many of you are aware of Andrew Yang.
His presidency would shake things up for the individual household.

He pledges that individuals will receive *free* money.
$1,000 a month, every month.

I am not advocating for him, but just putting it out there.

What about this?

Will that bring down the debt?

There are people in both parties who would like that to happen, but it will take a compromise from both parties, hence it will not happen. Democrats and Republicans are at war, another undeclared one it would seem.

Kierland wrote: ↑Wed Jun 12, 2019 10:19 pm That our education system doesn’t work is a feature not a bug for the kleptocrates and their 88BrokenJoes.

Surprise, another without answers resorts to pointing fingers and name calling. By your posts I would have guessed you're a grade schooler.

Screw_Michigan wrote: ↑Wed Jun 12, 2019 8:42 pm

smackaholic wrote: ↑Wed Jun 12, 2019 11:45 am Workers have more rights than they ever have.

Lol, you have to be joking.

Yeah, because in the 60's, we had mandatory paid maternity leave, mandatory paternal leave, companies were forced to offer health "insurance," 401K's, and employees could use whatever bathroom they wanted.

Sucks to get busted in an outright, hilariously fabricated lie, eh?

Joe wrote:Will that bring down the debt?

$1,000 of *free* money each month figures to help individual households get a handle on their debt, no?

Of course nothing in life is really free, so Yang's paln would certainly institute cascading consequences which may or may not actually help the national debt situation.

Kierland wrote: ↑Wed Jun 12, 2019 10:41 pm But we love our Blacks.

Sin,
StupidSam

After spending a couple of months in the South working,it's obvious Sam is right (despite his limited perspective, and he was kinda guessing). Much greater racial harmony than other places I've been -- particularly Alabama (although I've been told the southern part of the state isn't so much so). And it's not a close contest.

And it's possible that Boston isn't "the most racist city in the country" -- that would probably be my town (which is quite well-known for it). And it's the whitest city in the country (and well over half of the murders are committed by 6% of the population.... the "doing the jobs Americans don't want account for a good chunk of the rest). It's improved... or so they tell me. Those handouts must be working (some of the marijuana sales tax (only direct sales tax in the state) is given to minority marijuana business owners (because the state constitution is overridden by feeeeeeellllllings).

Softball Bat wrote: ↑Wed Jun 12, 2019 12:57 am

Credit Card Delinquencies Rise as User Demographics Shift

Americans love debt. Tell us you knew that. When economic times are good, they spend more.

Nationally, the debt was 19.5 trillion dollars when Donald took over.
Now it is 22.3 trillion.
On track to be over 24 trillion next year.
This trend shows no end in sight.

Incomes go up, so does debt.

Households are corkscrewed into the ground worse than in '08.
The nation is corkscrewed into the ground much worse than in '08.

Right. Because we are headed into a massive depression right now.

How does this jibe with supposedly being int he midst of "the greatest economy in the history of the country?"

It does not. Of course you are a complete fucking idiot so there is that.

Thoughts on this?

I will rate your post a F minus. Just another bad attempt at trolling and getting responses to your very bad shit slinging.

FakeNews,
The Kleptos want you stupid. How can I be any clearer?

Dinsdale wrote: ↑Thu Jun 13, 2019 1:20 am

Kierland wrote: ↑Wed Jun 12, 2019 10:41 pm But we love our Blacks.

Sin,
StupidSam

After spending a couple of months in the South working,it's obvious Sam is right (despite his limited perspective, and he was kinda guessing). Much greater racial harmony than other places I've been -- particularly Alabama (although I've been told the southern part of the state isn't so much so). And it's not a close contest.

And you are basing this on the statues of Racist heroes and Stars&Bars in State Houses? The studies that say otherwise (E.g.
Elmendorf and Spencer)? Was it all the violations of the VRA? Or is this one of those “because I say so” kind of things?

Kierland wrote: ↑Thu Jun 13, 2019 1:54 am
And you are basing this on the statues of Racist heroes and Stars&Bars in State Houses?

Put on a pot of coffee and call your sponsor.

Derron wrote: ↑Thu Jun 13, 2019 1:22 am

Softball Bat wrote: ↑Wed Jun 12, 2019 12:57 am

Credit Card Delinquencies Rise as User Demographics Shift

Americans love debt. Tell us you knew that. When economic times are good, they spend more.

Nationally, the debt was 19.5 trillion dollars when Donald took over.
Now it is 22.3 trillion.
On track to be over 24 trillion next year.
This trend shows no end in sight.

Incomes go up, so does debt.

Households are corkscrewed into the ground worse than in '08.
The nation is corkscrewed into the ground much worse than in '08.

Right. Because we are headed into a massive depression right now.

How does this jibe with supposedly being int he midst of "the greatest economy in the history of the country?"

It does not. Of course you are a complete fucking idiot so there is that.

Thoughts on this?

I will rate your post a F minus. Just another bad attempt at trolling and getting responses to your very bad shit slinging.

No surprise that you would stumble in and post inane gibberish.

Screw_Michigan wrote: ↑Wed Jun 12, 2019 10:35 pm

Yep. GOPers especially in the South have historically opposed increased education spending not because it's "throwing money at a problem" but because they didn't want tax dollars benefiting balcks.

You got a link for this? Of course you don’t. Throwing more money at education hasn’t helped. We spend more today than we did in 2000, 1990, 1980 etc. How much more do you want to spend without seeing results?

As far as the debt topic, what n one has mentioned is that people may feel more comfortable taking on debt today than they did a year ago, two years ago, or four years ago.

This certainly applies for the Seaters. We recently purchased a condo for my in-laws. We also purchased a place in CO. No way we would have made either purchase in 2008 or 2012 or even 2016. But the economy in our area is humming along, the business is expanding and the future is bright.

When you feel comfortable, it is easier to take on more debt.

LS wrote:When you feel comfortable, it is easier to take on more debt.

Your net worth is in the black, right?

How much "debt" are you really in?


I think many folks are taking on debt because they have to.

Or at least they have to in order to maintain a lifestyle that they consider to be suitably comfortable.