Living off of debt...

[Harpy Eagle]

We the people do the same thing the country does...spend money we do not have.

More shoppers plan to take out loan to finance the holidays

One in 3 Americans have or are planning to take out a personal loan to cover holiday shopping expenses, according to survey results Experian shared with Yahoo Money. That’s double from last year’s survey, the credit bureau said.

A booming economy and the country is adding debt at more than a trillion a year and personal debt is at an all time high as well.

Americans are way more in debt now than they were after the financial crisis - HousingWire

American household debt continues to climb to record levels, reaching $13.54 trillion in the fourth quarter of 2018.
According to the latest report from the Federal Reserve Bank of New York’s Center for Microeconomic Data, household debt is now $869 billion higher than 2008’s $12.68 trillion peak.
It is also 21.4% above the debt levels seen in the wake of the financial crisis in 2013.

We are so screwed come the next recession.

 

[AzogtheDefiler]

We the people do the same thing the country does...spend money we do not have.

More shoppers plan to take out loan to finance the holidays

One in 3 Americans have or are planning to take out a personal loan to cover holiday shopping expenses, according to survey results Experian shared with Yahoo Money. That’s double from last year’s survey, the credit bureau said.

A booming economy and the country is adding debt at more than a trillion a year and personal debt is at an all time high as well.

View attachment 291988

Americans are way more in debt now than they were after the financial crisis - HousingWire

American household debt continues to climb to record levels, reaching $13.54 trillion in the fourth quarter of 2018.
According to the latest report from the Federal Reserve Bank of New York’s Center for Microeconomic Data, household debt is now $869 billion higher than 2008’s $12.68 trillion peak.
It is also 21.4% above the debt levels seen in the wake of the financial crisis in 2013.

We are so screwed come the next recession.

Yep. Unfortunate but I ll be in a lot of debt very soon when my kids go to college. Such is life in the US.

 

[B. Kidd]

No debt then no glory!

 

[g5000]

Yeah, it's crazy.

I worry a lot about our government deliberately creating runaway inflation in order to decrease the public and private debt load. I worry a lot about governments all over the world doing that. The entire planet is in an astronomical debt bubble which dwarfs the subprime bubble to insignificance.

 

[g5000]

And don't get me started on corporate debt...

Too late!

 

[Mac1958]

We the people do the same thing the country does...spend money we do not have.

More shoppers plan to take out loan to finance the holidays

One in 3 Americans have or are planning to take out a personal loan to cover holiday shopping expenses, according to survey results Experian shared with Yahoo Money. That’s double from last year’s survey, the credit bureau said.

A booming economy and the country is adding debt at more than a trillion a year and personal debt is at an all time high as well.

View attachment 291988

Americans are way more in debt now than they were after the financial crisis - HousingWire

American household debt continues to climb to record levels, reaching $13.54 trillion in the fourth quarter of 2018.
According to the latest report from the Federal Reserve Bank of New York’s Center for Microeconomic Data, household debt is now $869 billion higher than 2008’s $12.68 trillion peak.
It is also 21.4% above the debt levels seen in the wake of the financial crisis in 2013.

We are so screwed come the next recession.

This is a real concern, but it isn't even what has me a little jittery.

Sub-prime corporate debt is.
.

 

[g5000]

Weeeeeeeeeee!

 

[B. Kidd]

Well, the sky ain't falling before Nov. 2020.

So gloom n' doom on.

 

[g5000]

We the people do the same thing the country does...spend money we do not have.

More shoppers plan to take out loan to finance the holidays

One in 3 Americans have or are planning to take out a personal loan to cover holiday shopping expenses, according to survey results Experian shared with Yahoo Money. That’s double from last year’s survey, the credit bureau said.

A booming economy and the country is adding debt at more than a trillion a year and personal debt is at an all time high as well.

View attachment 291988

Americans are way more in debt now than they were after the financial crisis - HousingWire

American household debt continues to climb to record levels, reaching $13.54 trillion in the fourth quarter of 2018.
According to the latest report from the Federal Reserve Bank of New York’s Center for Microeconomic Data, household debt is now $869 billion higher than 2008’s $12.68 trillion peak.
It is also 21.4% above the debt levels seen in the wake of the financial crisis in 2013.

We are so screwed come the next recession.

This is a real concern, but it isn't even what has me a little jittery.

Sub-prime corporate debt is.
.

Yep.

As the fed interest rate goes down, down, down, investors feel tremendous pressure to chase after higher returns in junk bonds, creating a DEMAND for junk bonds which the financial services industry is all too happy to accommodate in exchange for their cut (service fees).

 

[g5000]

Well, the sky ain't falling before Nov. 2020.

So gloom n' doom on.

Well, that's the thing about bubbles. You never know when they will pop. They certainly don't wait until an election. Just ask 2008's John McCain. Or Herbert Hoover.

 

[Mac1958]

We the people do the same thing the country does...spend money we do not have.

More shoppers plan to take out loan to finance the holidays

One in 3 Americans have or are planning to take out a personal loan to cover holiday shopping expenses, according to survey results Experian shared with Yahoo Money. That’s double from last year’s survey, the credit bureau said.

A booming economy and the country is adding debt at more than a trillion a year and personal debt is at an all time high as well.

View attachment 291988

Americans are way more in debt now than they were after the financial crisis - HousingWire

American household debt continues to climb to record levels, reaching $13.54 trillion in the fourth quarter of 2018.
According to the latest report from the Federal Reserve Bank of New York’s Center for Microeconomic Data, household debt is now $869 billion higher than 2008’s $12.68 trillion peak.
It is also 21.4% above the debt levels seen in the wake of the financial crisis in 2013.

We are so screwed come the next recession.

This is a real concern, but it isn't even what has me a little jittery.

Sub-prime corporate debt is.
.

Yep.

As the fed interest rate goes down, down, down, investors feel tremendous pressure to chase after higher returns in junk bonds.

Yep, plus it's polluting the non-corporate side, too.

There has been a flood of "lending institutions" going after small and mid-size, privately-owned companies, funded by investors desperate for yield. Predictably, because of the competition, they've been going bottom-feeding for quite a while. I wrote a book a couple of years ago on small/mid-size business finance and stumbled onto that little gem totally by accident.

If you have a pulse, they'll lend to you. Sound familiar?
.

 

[B. Kidd]

Are there any conservative non-spending Democrats running this election?

Didn't think so.......

 

[Harpy Eagle]

Well, the sky ain't falling before Nov. 2020.

So gloom n' doom on.

pull your head out of Trump's ass for more than 12 seconds and look beyond tomorrow.

fuck you partisans are idiots

 

[g5000]

Are there any conservative non-spending Democrats running this election?

Didn't think so.......

So I guess Trump will get all the blame for not doing anything to prevent a crash. That's fine.

But I'm sure you will find a way to blame the negroes, like last time.

 

[westwall]

Well, the sky ain't falling before Nov. 2020.

So gloom n' doom on.

pull your head out of Trump's ass for more than 12 seconds and look beyond tomorrow.

fuck you partisans are idiots

Yeah, go figure. The upcoming collapse is based on progressive tax and spend, buy the dumb ones off with promises bullshit for decades, and you partisan dipshits want to blame trump.

Enjoy the ride silly boi, this is a disaster of your own making.

 

[B. Kidd]

Are there any conservative non-spending Democrats running this election?

Didn't think so.......

So I guess Trump will get all the blame for not doing anything to prevent a crash. That's fine.

Didn't you mean to say that Bernie will save us?

 

[B. Kidd]

Are there any conservative non-spending Democrats running this election?

Didn't think so.......

So I guess Trump will get all the blame for not doing anything to prevent a crash. That's fine.

But I'm sure you will find a way to blame the negroes, like last time.

Obama is a mulatto, not a negro.
Glad that experiment is over.

 

[Weatherman2020]

 

[ReinyDays]

The worst part is all that interest and fees folks are paying is taxable against the receiving party ... that sucks ...

 

[g5000]

We the people do the same thing the country does...spend money we do not have.

More shoppers plan to take out loan to finance the holidays

One in 3 Americans have or are planning to take out a personal loan to cover holiday shopping expenses, according to survey results Experian shared with Yahoo Money. That’s double from last year’s survey, the credit bureau said.

A booming economy and the country is adding debt at more than a trillion a year and personal debt is at an all time high as well.

View attachment 291988

Americans are way more in debt now than they were after the financial crisis - HousingWire

American household debt continues to climb to record levels, reaching $13.54 trillion in the fourth quarter of 2018.
According to the latest report from the Federal Reserve Bank of New York’s Center for Microeconomic Data, household debt is now $869 billion higher than 2008’s $12.68 trillion peak.
It is also 21.4% above the debt levels seen in the wake of the financial crisis in 2013.

We are so screwed come the next recession.

This is a real concern, but it isn't even what has me a little jittery.

Sub-prime corporate debt is.
.

Yep.

As the fed interest rate goes down, down, down, investors feel tremendous pressure to chase after higher returns in junk bonds.

Yep, plus it's polluting the non-corporate side, too.

There has been a flood of "lending institutions" going after small and mid-size, privately-owned companies, funded by investors desperate for yield. Predictably, because of the competition, they've been going bottom-feeding for quite a while. I wrote a book a couple of years ago on small/mid-size business finance and stumbled onto that little gem totally by accident.

If you have a pulse, they'll lend to you. Sound familiar?
.

Sounds very familiar.

Of all the things about the financial services industry which piss me off, this is the one which pisses me off the most. In a low interest environment, investors create a demand for junk high yield instruments. Instead of resisting that pressure, the financial services industry only sees the opportunity to collect fees and so they do everything they can to satisfy the demand. They go totally gonzo creating the very instruments which will bring the whole thing crashing down.

They are totally screwing the capitalist pooch in the ass, and this is why the love of socialism was rekindled after 2008.