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Credit card debt up more than 50% in 2023, Bidenomics working
Posted on 2/7/24 at 6:59 am
Posted on 2/7/24 at 6:59 am
As the Biden/Harris/Democrats keep telling us, they just need to explain to everyone how great things are. Americans are too stupid to understand that the economy is great.
From CNBC -Credit card delinquencies surged in 2023, indicating ‘financial stress
quote:
Credit card delinquencies surged more than 50% in 2023 as total consumer debt swelled to $17.5 trillion, the New York Fed reported Tuesday.
quote:
With a total of $1.13 trillion in debt, credit card debt that moved into serious delinquency amounted to 6.4% in the fourth quarter, a 59% jump from just over 4% at the end of 2022, the New York Fed reported. The quarterly increase at an annualized pace was around 8.5%, New York Fed researchers said.
From CNBC -Credit card delinquencies surged in 2023, indicating ‘financial stress
This post was edited on 2/7/24 at 7:29 am
22
Posted on 2/7/24 at 7:02 am to DaBike
Now take a look at the debt of the United States. Interest on the debt is now a bigger line item than defense spending. Soon it will be bigger than social security.
Posted on 2/7/24 at 7:04 am to DaBike
quote:
to $17.5 trillion
Good lord!!
Is that 53,000 per every person in the US? Is my math correct?
This post was edited on 2/7/24 at 7:07 am
Posted on 2/7/24 at 7:05 am to DaBike
I was told the economy is awesome.
Posted on 2/7/24 at 7:08 am to SloaneRanger
Most all in a 20 year span. American economic crisis looming is catastrophic , yet somehow it’s still better than the rest of the world. When it pops it’s going to be tough
Posted on 2/7/24 at 7:25 am to Nosevens
quote:
Most all in a 20 year span. American economic crisis looming is catastrophic , yet somehow it’s still better than the rest of the world. When it pops it’s going to be tough
All part of the Global Reset, rest assured the uber wealthy are well positioned to cash in on the catastrophic global economic and financial meltdown.
Posted on 2/7/24 at 7:28 am to DaBike
quote:
Credit card debt up more than 50% in 2023
quote:
Credit card delinquencies surged more than 50% in 2023
Posted on 2/7/24 at 7:29 am to DaBike
Pretty sure I saw were a bug chunk of auto loans were over 60 days behind and we already know a shitton of mortgages are 90 days behind.
fricking smoke and mirrors.
fricking smoke and mirrors.
This post was edited on 2/7/24 at 7:29 am
Posted on 2/7/24 at 7:30 am to DaBike
Does it matter if you never have to pay it off?
Posted on 2/7/24 at 7:34 am to udtiger
quote:
fricking smoke and mirrors.
I think everything is smoke and mirrors now. Meta is “worth more” than the largest shipping giant in the world.
Posted on 2/7/24 at 7:36 am to Nosevens
quote:
yet somehow it’s still better than the rest of the world. When it pops it’s going to be tough
Is it? I haven’t checked on these but what about Switzerland, Japan, places with dumb frick money like the UAE?
Posted on 2/7/24 at 7:38 am to Gifman
quote:
was told the economy is awesome.
I’ve been saying this for two years. It’s not left over Covid money stimulating the economy, it’s consumer debt.
Posted on 2/7/24 at 7:45 am to DaBike
I don’t give a damn what numbers a 3 letter agency is reporting to describe a “strong economy”.
Consumer credit card debt is increasing along with delinquencies.
Auto and home loans delinquencies are rising.
The federal government spending is propping up the GDP numbers.
Every day there’s a notice of layoffs. Yesterday it was Docusign.
States are reporting higher unemployment than the feds.
This is a house of cards and looks very similar to 07/08.
This economy is dog shite and no amount of propaganda can change that.
Consumer credit card debt is increasing along with delinquencies.
Auto and home loans delinquencies are rising.
The federal government spending is propping up the GDP numbers.
Every day there’s a notice of layoffs. Yesterday it was Docusign.
States are reporting higher unemployment than the feds.
This is a house of cards and looks very similar to 07/08.
This economy is dog shite and no amount of propaganda can change that.
Posted on 2/7/24 at 7:49 am to DaBike
It's crazy. I do decent for myself and I notice the cost of things. I don't know how the average or below average income is affording life. But every restaurant on Friday night is slammed, hotels are packed, flights are oversold, people all around me are buying new cars
Posted on 2/7/24 at 7:49 am to DaBike
So consumer credit card debt is up 3% since pre-Covid levels and household wealth is at an all-time high.
The reason this is a daily topic is because everyone knows the economy is indeed soaring.
If you are not doing well right now you have made serious financial mistakes. As always everyone posts that their personal finances are great, but they are among the rare people that are just lucky. Not a single first hand account of how this economy has made a person worse off than pre-Covid.
Household wealth at an all time high
Stock market at record highs
Home value up 50% or more since pre-Covid
Record unemployment
Highest wages ever
The reason this is a daily topic is because everyone knows the economy is indeed soaring.
If you are not doing well right now you have made serious financial mistakes. As always everyone posts that their personal finances are great, but they are among the rare people that are just lucky. Not a single first hand account of how this economy has made a person worse off than pre-Covid.
Household wealth at an all time high
Stock market at record highs
Home value up 50% or more since pre-Covid
Record unemployment
Highest wages ever
Posted on 2/7/24 at 7:50 am to Night Vision
quote:
Does it matter if you never have to pay it off?
We found mitch the turtle.
Hahaha
Posted on 2/7/24 at 7:51 am to DaBike
The economy is running on debt.
Its a fraud.
Its a fraud.
Posted on 2/7/24 at 7:52 am to RogerTheShrubber
quote:
Its a fraud.
Posted on 2/7/24 at 7:52 am to SloaneRanger
Expand out from the US to the whole world and you will see the entire debt system failing
Posted on 2/7/24 at 7:53 am to iHEARTcorndogs
quote:
Expand out from the US to the whole world and you will see the entire debt system failing
What happened the last time that took place?
Pretty sure it was around 1929.
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