Posted on 12/05/2023 1:57:52 PM PST by davikkm
fredblog.stlouisfed.org/2023/12/three-measures-of-us-credit-card-debt/#:~:text=In%202023%2C%20outstanding%20credit%20card,for%20consumer%20spending%20going%20forward.
From a disposable income standpoint the Fed data agrees that the consumer is better able to service their debt now than they ever have. That peaked during the stimmie checks but that gap has closed from -25% to -5% in the past 2 years. Which is not a promising trend.
Adjusting for inflation the debt is equal to pre Covid but 20% higher than post GFC.
(Excerpt) Read more at citizenwatchreport.com ...
My subscription orders for coffee beans, flour, raw sugar, tea, beans, salt, spices, and my pharmacy refills, keep me from needless travel costs and impulsive in-store purchases. Amazon saves me quite a bit. I grow, can, dry, most of my produce and vegetables, enough for a year long supply if you plan.
Yah THINK!!!????
Did she ever bill ahead so the clients could wipe out what they owed her?
Good for you!
Pretty cool.
Agree just don’t go into debt for crap you don’t need...again...referring to my wife lol
Credit Repair and Protection Act (CRAP)
If Congress wants to help, they could certainly limit the amount of interest people are paying. I get that the individual is responsible for their own debts, but when cards go from 8% with good credit to 25% just because they can (variable), that’s a recipe for disaster for the country as a whole.
Best thing is not to carry CC debt, but credit card companies are pushing people to default with those kinds of interest rates.
It saves TIME, too; and time is money.
> does it have an option for an air compressor? <
The knife comes standard with an air compressor.
You do have to pay extra for a fast EV charger.
> Credit Repair and Protection Act (CRAP) <
Pretty darn good! Keep it up, and you’ve got a chance to replace Kamala Harris on the 2024 Democrat ticket. 😄
“The Democrats will have to come up with a catchy and benign-sounding name for the program. “The 2024 Fairness in Credit Act”, that might work.”
***********
You’re spot on. Dems are very good at branding and promoting their initiatives. The inept Republicans not so much.
I’ll have to learn to cackle.
Yes, that can happen. I’ve done BK law. We all charge upfront. If more work is needed [someone objects to discharge, etc], you have to file a motion BEFORE the work is done to ask for permission from the court. If the procedure isn’t followed, no more fees can be collected.
Great Financial Crisis. It’s what they call 2007-2009 now. You know when investment groups marked junk housing debt as AAA and sold it all over and creating derivatives of derivatives of loans …. Got to the point many people had no clue who to pay their mortgage to since it was sold weekly in bundles to people all over the world. Wall Street making money on nothing than blaming homeowners.
The amount of people I know personally who, in their words, are using credit cards “to get by” is mind blowing.
Joke all you want, but we are on the edge of a depression and socialist revolution. And the GOP is dancing all the way to the hangman.
Want to end this? Bring back usury laws. Make student loans dischargeable in bankruptcy. Make Air BNB and such places meet the same requirements as hotels.
Yes, there will be pain, but it may stop what is coming.
If true, this could be a potential problem.
Occupy Wall Street” promoted such actions. Never heard how much they charged and didn’t pay.
Never I’m pretty sure that would be unethical it was always upfront as a retainer
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