re: Credit card debt up more than 50% in 2023, Bidenomics working

quote:

---

So consumer credit card debt is up 3% since pre-Covid levels and household wealth is at an all-time high.

---

100% due to the rise in home values.

Keep ignoring the facts of why the economy is "soaring" and stick with the progressive narrative. I'm sure you will have an excuse when it all blows up.

quote:

---

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

---

Household wealth is at the highest of all time. This in no way accounts for purchasing power that was lost over the past 3 years. Go on ahead and lop off about 17% of that number.

Stock market is doing great. Glad to see the wealthy get wealthier. Bottom up and middle out, am I right?

Home values are up. As are interest rates. Mortgage applications are down because these artificially inflated home values are barring lower earners from entering the market… the single easiest market to generate wealth and security. New builds are down.

Unemployment in 75% of states is up, that includes large states like California and New York. The state numbers are significantly higher than the feds numbers. They’re lying to you bud.

Highest nominal wages, correct. Adjust that for inflation, wages have decreased over the last 3 years.

Take your propaganda somewhere that people can’t critically think.

quote:

---

was told the economy is awesome.

---

Yeah all that consumer spending is happening alright. Just not getting paid from credit

Not even just inflation…

A lot of people are worse off income-wise since Covid because so many jobs evaporated overnight and getting a comparable one hasn’t always been possible.



My wife got laid off in Covid and, when she did get a job, it was for significantly less than what she made before.

quote:

---

lol.. I wonder why. Adding trillions into the economy will do such, for half the population, temporarily. Bubbles exist, this is a massive one

---

So you agree that economy is great, but you claim it is a temporary transitory bubble based on Covid cash that is about to burst.


We need to get you five minutes on a cnbc type of platform because everyone involved in finance for a living could use the entertainment. Love it.

U.S. debt clock

quote:

---

Unemployment in 75% of states is up, that includes large states like California and New York. The state numbers are significantly higher than the feds numbers. They’re lying to you bud

---

Unemployment is up in 75% of the states compared to when? Are they still not at decade lows?
Who is lying to me? The BLS numbers?
Once you start claiming that government numbers are faked for political reasons or inaccurate because of ineptitude people stop taking you seriously. One thing the government is really good at is data collection. The egg heads in these departments have no political motivation. Sure politicians attempt to cherry pick the data for their narrative but it doesn’t mean the data isn’t real.

quote:

---

total consumer debt swelled to $17.5 trillion

---

Total consumer debt amounts to half of the national debt. This house of cards can’t hold up.

quote:

---

One thing the government is really good at is data collection.

---

Not when each administration has an agenda. You actually trust presidential administrations not to doctor numbers?
How about the easter bunny?

quote:

---

Once you start claiming that government numbers are faked for political reasons or inaccurate because of ineptitude people stop taking you seriously.

---

Dude anyone that would type this is "not takin seriously". I have seen a lot of people here that do not understand economics. You are the poster child for it.