Guno צְבִי (02-17-2019), ThatOwlWoman (02-17-2019)
A record 7 million Americans have stopped paying their car loans, and even economists are surprised
A new report from the Federal Reserve Bank of New York revealed 7 million Americans are behind on their auto payments by at least 90 days
Millions of Americans are struggling with their car payments, and even economists are surprised.
According to a new report from the Federal Reserve Bank of New York, more than 7 million Americans have reached serious delinquency status on their auto loans, meaning they're at least 90 days behind on payments.
https://www.businessinsider.com/auto...ork-fed-2019-2
Credit card debt surpasses $1 trillion in the US for first time
U.S. consumers’ total credit card debt exceeded $1 trillion for the first time, according to a new study by the personal finance website WalletHub.
Consumers took on an additional $92.2 billion in debt last year, the highest single-year amount since 2007. The average U.S. household owes $8,600 on credit cards, WalletHub found.
The accumulation of debt reflected Americans' confidence in the economy, according to Jill Gonzalez, a senior analyst at WalletHub.
“We haven’t seen anything like this,” she told ABC News. “Consumer confidence is at its highest point. Since the recession, people have been saving up for houses, cars ... new furniture and appliances, which often get charged on credit cards.”
https://abcnews.go.com/Business/cred...ry?id=53608548
MAGA, MAGA, MAGA!!!
What the fuck?!!
Last edited by signalmankenneth; 02-17-2019 at 06:59 PM.
Guno צְבִי (02-17-2019), ThatOwlWoman (02-17-2019)
Don't buy the big SUV if you can't afford it...
Guno צְבִי (02-17-2019), MAGA MAN (02-17-2019)
What's wrong Kenneth? Credit so bad that you're paying 21% on a used car loan?
I have several friends in the car sales business and low lifes come in all the time and want to buy a $45 and up luxury SUV. Then sales runs a credit check and they make shitty money, have nothing in savings, upside-down on a loan for a car that they failed to maintain and a shitty credit score. So they lowball them on the trade, put them in a cheap used car, install a Lojack and charge them 21% interest on the loan.
There is Big Money to be made in the business selling crap to losers.
ThatOwlWoman (02-17-2019)
There are serious cracks in the Trump economy. Many economists see a downturn around the corner. Without the Obama economy, what does Trump have to offer? He has zero accomplishments and cannot even staff his administration.
President Trump is the chief credit abuser.
Personal Ignore Policy PIP: I like civil discourse. I will give you all the respect in the world if you respect me. Mouth off to me, or express overt racism, you will be PERMANENTLY Ignore Listed. Zero tolerance. No exceptions. I'll never read a word you write, even if quoted by another, nor respond to you, nor participate in your threads. ... Ignore the shallow. Cherish the thoughtful. Long Live Civil Discourse, Mutual Respect, and Good Debate! ps: Feel free to adopt my PIP. It works well.
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