Personal debt hits new high of 16 trillion, way to go Joe...

[Celticguy]

https://rivercountry.newschannelneb...uggle-to-keep-up-with-the-high-cost-of-living

and when the layoffs are rolling across the country just imagine what happens when debt service ends in foreclosures, bankruptcies etc.

this Bidcession is going to be very painful and long running.

Americans are piling up credit card debt as they struggle to keep up with the high cost of living.US household debt surpassed $16 trillion for the first time ever during the second quarter, the New York Federal Reserve said Tuesday.


Even as borrowing costs surge, the NY Fed said credit card balances increased by $46 billion last quarter.


Over the past year, credit card debt has jumped by $100 billion, or 13%, the biggest percentage increase in more than 20 years. Credit cards typically charge high interest rates when balances aren't fully paid off, making this an expensive form of debt.

​

The NY Fed said the credit card binge at least partly reflects inflation as prices rise at the fastest pace in more than four decades.


"The impacts of inflation are apparent in high volumes of borrowing," NY Fed researchers wrote in a blog post.


High inflation is also making it more expensive to carry a credit card balance because the Federal Reserve is aggressively raising borrowing costs. The Fed raised its benchmark interest rate by three-quarters of a percentage point last week for the second month in a row.


Not only are credit card balances rising, but Americans opened 233 million new credit card accounts during the second quarter, the most since 2008, the NY Fed report found.

 

[BidenPresident]

https://rivercountry.newschannelneb...uggle-to-keep-up-with-the-high-cost-of-living

and when the layoffs are rolling across the country just imagine what happens when debt service ends in foreclosures, bankruptcies etc.

this Bidcession is going to be very painful and long running.

You fascists have no right to criticize anything.

 

[Concart]

https://rivercountry.newschannelneb...uggle-to-keep-up-with-the-high-cost-of-living

and when the layoffs are rolling across the country just imagine what happens when debt service ends in foreclosures, bankruptcies etc.

this Bidcession is going to be very painful and long running.

So Biden is holding a gun to peoples heads and making them borrow? Do tell. You are completely disconnected from economic reality. You think everything is partisan. What a joke.

 

[archives]

You fascists have no right to criticize anything.

Considering those Messiah added over eight trillion to the debt, a large percentage of that before Covid when he enjoyed a stable economy, you are correct, not to mention Trump increased discretionary spending considerably when his predecessor had shrunk the same

 

[Celticguy]

yeah, I'd be looking to deflect or run away from this if I were a lib too.

 

[BidenPresident]

So Biden is holding a gun to peoples heads and making them borrow? Do tell. You are completely disconnected from economic reality. You think everything is partisan. What a joke.

duhhh Biden caused inflation duhhh.

 

[archives]

So Biden is holding a gun to peoples heads and making them borrow? Do tell. You are completely disconnected from economic reality. You think everything is partisan. What a joke.

Reminiscent of the Great Recession when the right claimed F+F just made Wall Street package all those loans in derivative funds that went belly up

 

[Celticguy]

So Biden is holding a gun to peoples heads and making them borrow? Do tell. You are completely disconnected from economic reality. You think everything is partisan. What a joke.

they're having to borrow to put food on the table. no gun needed, Joe has already provided the impetus.

 

[BidenPresident]

they're having to borrow to put food on the table. no gun needed, Joe has already provided the impetus.

You support violence to overthrow the government. No one gives a shit about goddam inflation.

 

[Concart]

Reminiscent of the Great Recession when the right claimed F+F just made Wall Street package all those loans in derivative funds that went belly up

Yep. They had a gun to the heads of Bear Stearns and Lehmman Brothers. Oh, don't forget the third F. Barney Frank. I mean you just KNOW that guy caused all kinds of probems.

 

[Concart]

they're having to borrow to put food on the table. no gun needed, Joe has already provided the impetus.

BULL SHIT.

No they aren't. They are spending like drunken sailors because they think they'll get bailed out somehow. I saw it in 2008 as well. Sorry, but your posit is unsupported and completely illogical. If you are borrowing to put food on the table you have a lot worse problems than inflation, and you probably created them for yourself.

 

[Theywillneverlearn!]

BULL SHIT.

No they aren't. They are spending like drunken sailors because they think they'll get bailed out somehow. I saw it in 2008 as well. Sorry, but your posit is unsupported and completely illogical. If you are borrowing to put food on the table you have a lot worse problems than inflation, and you probably created them for yourself.

All democrats or liberals for sure.

 

[Noking]

All democrats or liberals for sure.

Sure Poopeye sure

 

[Theywillneverlearn!]

Sure Poopeye sure

Check yourself in to get help.

 

[Noking]

Check yourself in to get help.

How's your fleet of ships these day?????????????????

 

[Stringfellow Hawk]

So Biden is holding a gun to peoples heads and making them borrow? Do tell. You are completely disconnected from economic reality. You think everything is partisan. What a joke.

you mean like college students, or maybe you are talking about CRA that the democrats passed so those without any down could buy a home even for a short time. Your memory is shorter than your penis

 

[Theywillneverlearn!]

How's your fleet of ships these day?????????????????

So I looked up your posts. Do you wonder at all why no one answers you?

 

[Noking]

So I looked up your posts. Do you wonder at all why no one answers you?

Sailor, you're answering my post aren't you.

 

[Theywillneverlearn!]

Sailor, you're answering my post aren't you.

Dude. One last time. Seek help.

 

[Noking]

Dude. One last time. Seek help.

Poopeye, you need help far more than I do.