Doin’ my part!
Such an unfathomable amount of money.
Well, when you owe a thousand dollars you are in trouble.
When you owe a trillion, your lenders are in trouble.
I was wondering where everybody was getting their money from. All the poor, unemployed people here shop all day and eat all their meals at restaurants. They all drive Mercedes, Jaguars, BMWs, Maseratis, and other European rides. They sure got me beat.
Was hoping to see a dollar figure on credit card delinquency, but only saw a graph based on baseline information.
It is no doubt a large #
We are still among the wealthiest peoples on earth yet still live beyond our means. Have we created a culture that cannot live without excessive credit card debt? Biden may have created problems but we are sorely lacking in families understanding personal finance. No savings? No emergency funds? No budgeting, just spend.
The National Debt is nearly twice this personal debt. 33 Trillion dollars. The Interest on this debt has now gone over a Trillion dollars. I can still remember when the entire federal budget was under a Trillion.
What is worriesome in the transition rates (like current to 90-days delinquent) Credit cards (blue) and auto loans (red).
I've been listening to some auto podcasts. There could be some trouble for subprime auto lending. For a year or 2 dealers were adding "market adjustments" on top of MSRP for new cars. Used car prices were inflated as well. Prices are starting to fall and many of those people will have their loans under water..
“HAHAHA. Your side of the boat is sinking.”
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