Americans Hold Over $4.1T in Consumer Debt
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Americans Hold Over $4.1T in Consumer Debt
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Re: Americans Hold Over $4.1T in Consumer Debt
#2Combine low wages, increasing loan delinquency, and the probable start of trade wars with mexico and china and I can't see how this doesn't turn out to be like 2008 on steroids.
Re: Americans Hold Over $4.1T in Consumer Debt
#3Combine low wages, increasing loan delinquency, and the probable start of trade wars with mexico and china and I can't see how this doesn't turn out to be like 2008 on steroids.
Not sure why OP was being downvoted. I just bought a new truck, financed mostly with an auto loan. I couldn't remember or provide half the information required for the loan application and was told "don't worry about that." I still got approved.
Another story, I recently changed rental apartments. My "credit report" was a page I printed out from a consumer credit reporting site, where I could've changed any data.
My point being, all this loose validation seems very remiscnet of the easy money that was so common pre-Great Recession.
Re: Americans Hold Over $4.1T in Consumer Debt
#4One man's debt is another man's financial asset.
Re: Americans Hold Over $4.1T in Consumer Debt
#5Combine low wages, increasing loan delinquency, and the probable start of trade wars with mexico and china and I can't see how this doesn't turn out to be like 2008 on steroids.
Not sure why OP was being downvoted. I just bought a new truck, financed mostly with an auto loan. I couldn't remember or provide half the information required for the loan application and was told "don't worry about that." I still got approved. Another story, I recently changed rental apartments. My "credit report" was a page I printed out from a consumer credit reporting site, where I could've changed any data. My…
Cheap money is vital to the economy. I know that the market is different in the EU but look at what is happening in Germany and Greece. You would not want that.
Re: Americans Hold Over $4.1T in Consumer Debt
#6One man's debt is another man's financial asset.
With this attitude, you might as well just give all your money to the bankers now and just be done with it.
Re: Americans Hold Over $4.1T in Consumer Debt
#7Secured on wasting assets, the promise of future earnings, or nothing at all. What could possibly go wrong?
(On the bright side this is far from the majority of debt.)
Re: Americans Hold Over $4.1T in Consumer Debt
#8Re: Americans Hold Over $4.1T in Consumer Debt
#9Combine low wages, increasing loan delinquency, and the probable start of trade wars with mexico and china and I can't see how this doesn't turn out to be like 2008 on steroids.
also "subprime financial products bundled together and resold as low-risk investments to massive institutions" combined with "moral hazard" of said institutions knowing they will be bailed out again by the taxpayers when the speculative bubble bursts.
also Student Debt cannot be forgiven in bankruptcy so you essentially have an entire generation of indentured servants who will never actually own property outright.
Re: Americans Hold Over $4.1T in Consumer Debt
#10One man's debt is another man's financial asset.
which is the taxpayers "troubled asset" which has to go into a "Relief program" which somehow translates into Socialism for the hyper-rich and indentured servitude for everyone else.