$677,000,000,000 Added To US National Debt in Three Months As BlackRock CEO Warns Situation ‘More Urgent Than I Can Ever Remember

[Ron_Artest 1,545]

9 minutes ago, edjr said:

    talk about a shill. c'mon man. 

 

https://www.cnbc.com/2024/03/27/how-much-credit-card-debt-americans-have-by-age-.html

Average credit card debt in the U.S.

By generation

The horizontal bar chart shows the average credit card debt in the U.S., broken down by generation, in Q3 2023, Q3 2022 and Q3 2021.

	Q3 2023	Q3 2022	Q3 2021
Gen Z18–26	$3,262 $3,262	$2,854 $2,854	$2,282 $2,282
Millennials27–42	$6,521 $6,521	$5,649 $5,649	$4,576 $4,576
Gen X43–58	$9,123 $9,123	$8,134 $8,134	$7,070 $7,070
Baby boomers59–77	$6,642 $6,642	$6,245 $6,245	$5,804 $5,804
Silent Generation78+	$3,412 $3,412	$3,316 $3,316	$3,177 $3,177

 

Any idea why it is going up and not down?

Credit card debt goes up during growth and down in recession. Look up the history.

[BeachGuy23 642]

1 minute ago, Ron_Artest said:

Credit card debt goes up during growth and down in recession. Look up the history.

Just like I said.

These idiots have zero clue what they're talking about.

The economy is booming life few times before. 

[RLLD 4,233]

15 minutes ago, BeachGuy23 said:

Worst economy ever?  Let's see some stats to back that up friend.

Those are your words, worst economy ever. 

Correct.  For the affluent its not bad, but for those in the lower strata.....worst they have seen in their lifetime, for sure.

[Ron_Artest 1,545]

6 minutes ago, RLLD said:

Correct.  For the affluent its not bad, but for those in the lower strata.....worst they have seen in their lifetime, for sure.

Worse than losing their jobs and economy closing 4 years ago?  Shut up.

[Hardcore troubadour 15,450]

Trump has to shut down the economy or we’ll all die! Trump shut down the economy! 

[RLLD 4,233]

4 minutes ago, Ron_Artest said:

Worse than losing their jobs and economy closing 4 years ago?  Shut up.

Conflating COVID with policy is not really going to work here, I am not sure the voters will subscribe to it.....but I might suggest you contact the White House and coach them to try it, see if that helps change the way people feel about their performance....it likely cant hurt

[Ron_Artest 1,545]

1 minute ago, RLLD said:

Conflating COVID with policy is not really going to work here, I am not sure the voters will subscribe to it.....but I might suggest you contact the White House and coach them to try it, see if that helps change the way people feel about their performance....it likely cant hurt

Just stop saying dumb things like this is the worst economy people have ever seen when we literally saw a much worse economy 4 years ago.  Trying to argue against that makes you stupid.

[The Real timschochet 6,779]

@RLLD I don’t think you’re stupid, but I do disagree that this is the worst economy in recent  years and it’s a pretty ridiculous assertion. Putting aside the Covid crisis (because I will grant you your point that that was not a question of policy at least starting out) it was worse in 2008-10 following the bailout, by any measure other than inflation. Unemployment for example was far worse- it hovered at about 10% or higher for 3 years. Many more homes were underwater. 

If we’re going just by inflation then we need only go back to 1979-1981. Interest rates were a whopping 15%. Gas stations had lines around the block which I well remember. So I think your assertion is a little off. 

[RLLD 4,233]

4 minutes ago, Ron_Artest said:

Just stop saying dumb things like this is the worst economy people have ever seen when we literally saw a much worse economy 4 years ago.  Trying to argue against that makes you stupid.

Since i pointedly made that assertion toward the lower strata, I stand by it. The economy was great, and more so for those lower strata, which is preferred.....well, at least that is what liberals pretend to prefer....

So all the communication to this point has fallen flat with those folks in particular, why.....because their lives are more miserable today than ever before.... I so not see the value in gaslighting them; that tactic so far seems to have galvanized them against the current admin

I am fine with it actually, the more it is done, the more people will not vote Democrat, this is a win for sanity.  That does not mean I have to play pretend with the rest of you.

[RLLD 4,233]

Just now, The Real timschochet said:

@RLLD I don’t think you’re stupid, but I do disagree that this is the worst economy in recent  years and it’s a pretty ridiculous assertion. Putting aside the Covid crisis (because I will grant you your point that that was not a question of policy at least starting out) it was worse in 2008-10 following the bailout, by any measure other than inflation. Unemployment for example was far worse- it hovered at about 10% or higher for 3 years. Many more homes were underwater. 

If we’re going just by inflation then we need only go back to 1979-1981. Interest rates were a whopping 15%. Gas stations had lines around the block which I well remember. So I think your assertion is a little off. 

Again....the worst economy those in the lower strata have seen in their lifetime.  For me, its not great but as an investor its working rather nicely for me.  The affluent will find this economy rather good.

The people suffering most are down in the lower income areas, they cannot afford much, and the food problem has an ancillary outcome in that they are resorting to less healthy foods....so that will come back to bite them later.

They feel it, and I have posted examples where it is laid out both metrically as well as with first hand accounts.  You can choose to not see it, and I will not object. The votes are moving in a direction that favors my longer term position.  So have at it....by all means, just do not demand I play pretend with you, thats all.

[The Real timschochet 6,779]

3 minutes ago, RLLD said:

the more people will not vote Democrat, this is a win for sanity.  

This might work if Republicans had chosen a sane candidate to oppose Joe Biden. Since they didn’t I’m afraid you may have to wait until 2028 to see if this argument has merit. 

[RLLD 4,233]

1 minute ago, The Real timschochet said:

This might work if Republicans had chosen a sane candidate to oppose Joe Biden. Since they didn’t I’m afraid you may have to wait until 2028 to see if this argument has merit. 

We shall see. I am hopeful that Trump can return and restore policies that delivered good outcomes for the nation.  As important, I want his VP pick to be a suitable pick for later potential election as well, so the policies can be sustained. I think it will take longer than 4 years to unwind the damage done; and I want the bureaucracy cleaned out as well... I want the FBI gutted....there is so much corruption within that realm that I think it needs to be burned to the ground

[Ron_Artest 1,545]

6 minutes ago, RLLD said:

Since i pointedly made that assertion toward the lower strata, I stand by it.

The unemployment rate during covid hit 15%.  Mostly lower strata jobs.  Retail, services, construction, etc.  These people did not know when or if they would ever work again.

Unemployment right now is 3.5%

And you accuse others of gaslighting.

[RLLD 4,233]

3 minutes ago, Ron_Artest said:

The unemployment rate during covid hit 15%.  Mostly lower strata jobs.  Retail, services, construction, etc.  These people did not know when or if they would ever work again.

Unemployment right now is 3.5%

And you accuse others of gaslighting.

Fine by me, I want you to put that on billboards in every city, put people out there with this one signs on every street corner.....blast it from bullhorns.....put it in their faces every day....just make sure they know its coming from Democrats. That is all I ask.

[RLLD 4,233]

How voters feel about the economy: 4 takeaways from the latest polls

 

Quote

Inflation and high prices remain the electorate’s top concern and dominate voters’ assessment of the economy. 

Despite some modest recent improvement, voters’ sentiments about the economy remain negative

President Biden continues to get low marks for his handling of inflation.

When it comes to the economy, Donald Trump enjoys a clear edge over Biden

 

[Maximum Overkill 1,998]

1 hour ago, BeachGuy23 said:

Worst economy ever? 

Definitely not the worst economy ever but it's certainly not good. I made a lot more money in the Trump era because deals were easier to get done. 

That's not a political stance, that's just the way it was. I'm not saying it's Biden's fault but that's just where we are right now. Economies shift by nature. 

For anyone to deny that or say the economy's good is not out there. Things are starting to move again but everyone is very very cautious. 

[RLLD 4,233]

 

[edjr 6,598]

if only we had 22 pages of national debt threads