- Nov 3, 2017
- 10,025
- 33,651
@Concrete Helmet you are not wrong in your thought processes…
I just couldn’t take seriously anything else you might have typed after this start.
what an absolute clusterfuch this country is in currently.Cue the Jeopardy music.
Credit card balances jump 13%, highest leap in over 20 years, as inflation outpaces wage growth
Americans now say they need to be making about $107,800 a year to feel financially healthy, roughly double the national average.www.cnbc.com
Household debt tops $16 trillion for the first time, fueled by higher inflation and interest rates
Household debt climbed past $16 trillion in the second quarter, as soaring inflation pushed up housing and auto balances.www.cnbc.com
Can we call it a recession now?Cue the Jeopardy music.
Credit card balances jump 13%, highest leap in over 20 years, as inflation outpaces wage growth
Americans now say they need to be making about $107,800 a year to feel financially healthy, roughly double the national average.www.cnbc.com
Household debt tops $16 trillion for the first time, fueled by higher inflation and interest rates
Household debt climbed past $16 trillion in the second quarter, as soaring inflation pushed up housing and auto balances.www.cnbc.com
no....we're thinking about jumping straight to depressionCan we call it a recession now?
So this is precisely why the Fed cannot let the housing market crash..... we have paid off over 30 million dollars in revolving credit card debt in just the last 4 months from HELOC's......If these homeowners aren't given a continuing "out" with their ever swelling debt the whole system will go KABOOM.....Funny how despite the Fed raising rates the 10 yr has gone down nearly 100 basis points in the last 6 weeks...
Yes it looks like the 10yr hit 2.73 today and the stock market didn't like it as it started dropping about 2 hours ago. I don't like but if the housing market goes down this might not be fixable...debt is really that bad on both the consumer and government sides.....something is gonna give....Very true, but today 10 yr up 20 basis points. All the FED idiots trying to talk back what Powell said last week. The funny thing is as soon as the 3 month T-Bill inverted today with the 10 Year T-Note it reversed on a dime and is now positive 18 or so basis points. that has always been the signal. However regarding the credit card debt, lest people forget that even though the FED only "controls" the overnight rate,it is that overnight rate that most affects credit card debt!
Seasonal adjustments in the YOY gain?We should expect some seasonal adjustments in Sept
Interesting this is happening big time in some areas, not so much in others. I was listening to some talking head say the FED has to be careful b/c home prices are starting to decline. I began screaming at the blower b/c the prices had gone up in some places 200, 300, 400 percent and that dropping a little will do nothing to help anyone. B/C you are starting at such an unsustainable level, a small drop won;t help. Prices need to come in almost 40% nationally for the average person to have a chance.