- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Credit Card Debt Jumps Most in 20 Years as Inflation Soars
Posted on 8/2/22 at 3:35 pm to LSUFanHouston
Posted on 8/2/22 at 3:35 pm to LSUFanHouston
quote:
We do not have any credit card debt. We sparingly use credit cards that we pay off monthly.
The banks do not make a dime of interest off of us. They don't make much in exchange fees, either.
Yet, of the 4 or so days a week I actually receive mail (thanks USPS for your wonderful service), at least three of those days me or my wife have a credit card solicitation that arrives in the mail. And ALL of those letters offer 15 or more months no interest.
Same here
Unfortunately, households like ours are the minority. Car repossessions are on the rise and I can't help but think home foreclosures will likely follow suit.
quote:
RealtyTrac (www.realtytrac.com), the largest online marketplace for foreclosure and distressed properties, today released its Q1 2022 U.S. Foreclosure Market Report, which shows a total of 78,271 U.S. properties with a foreclosure filing during the first quarter of 2022, up 39 percent from the previous quarter and up 132 percent from a year ago.
The report also shows a total of 33,333 U.S. properties with foreclosure filings in March 2022, up 29 percent from the previous month and up 181 percent from a year ago — the 11th consecutive month with a year-over-year increase in U.S. foreclosure activity.
These are the folks trying to continue their current lifestyle on the backs of their credit cards, not realizing (or not wanting to realize) that the current economic troubles will be around at least for the rest of the year.
1
Posted on 8/3/22 at 8:27 am to ronricks
quote:
Joe Biden has no bearing on me choosing to use my credit card just like he has no bearing on me choosing to go and buy a 12 pack of beer and drink it all at one sitting. That is a choice.
bullshite. Who signed the executive orders to basically raise gas prices overnight??? Who’s about to tax the ever living shite out of the under $200,000 a year class?? Everything in the world not being right might not be Biden’s fault. But this economy and the struggles it’s placed on the middle class is 1000% his fault.
Posted on 8/3/22 at 8:34 am to Tigersonfire
quote:
bullshite. Who signed the executive orders to basically raise gas prices overnight??? Who’s about to tax the ever living shite out of the under $200,000 a year class?? Everything in the world not being right might not be Biden’s fault. But this economy and the struggles it’s placed on the middle class is 1000% his fault.
Gas being $5.00 a gallon doesn't force anyone to use a credit card. Taxes being raised doesn't force anyone to use a credit card. A specific brand of Bacon being $11.99 for 1.5 pounds doesn't force anyone to use a credit card. Simply buy a cheaper brand. I swear we have some entitled idiots on here who sound like a bunch of whiny soy liberals. You or I aren't entitled to cheap gas, steaks, chicken or any other good or service. shite happens. Prepare for it and pivot and make better choices. This will end eventually. Life is hard sometimes.
This post was edited on 8/3/22 at 8:35 am
Posted on 8/3/22 at 8:44 am to ronricks
Very ignorant statement. Just because you may eiither be independently wealthy, trust fund baby, single and no bills or just a 1%’er, the general population is getting hammered.
Cost of living Inflation is rocking this nation. And unless you have some island you can live in your own bubble, before long enough, you will be effected.
Might not ever have credit card issues, but everything around you Will even Taulli crumble at this rate, and I don’t care how well off you are. If you don’t see the COL inflation, your an idiot. Or if you see it and have no compassion for common folks, your a POS!
As for me, I’m still doing ok, I pay my cards off monthly, have done that for 20 years. I’m in the upper tax bracket and get Hammered, I’ve got kids and responsibilities, and even making very good money, I think anyone can at least acknowledge there is a major squeeze on society.
At the very least, quit being an un-compassionate member of society to your fellow citizens.
Cost of living Inflation is rocking this nation. And unless you have some island you can live in your own bubble, before long enough, you will be effected.
Might not ever have credit card issues, but everything around you Will even Taulli crumble at this rate, and I don’t care how well off you are. If you don’t see the COL inflation, your an idiot. Or if you see it and have no compassion for common folks, your a POS!
As for me, I’m still doing ok, I pay my cards off monthly, have done that for 20 years. I’m in the upper tax bracket and get Hammered, I’ve got kids and responsibilities, and even making very good money, I think anyone can at least acknowledge there is a major squeeze on society.
At the very least, quit being an un-compassionate member of society to your fellow citizens.
Posted on 8/3/22 at 8:49 am to Westbank111
quote:
Very ignorant statement. Just because you may eiither be independently wealthy, trust fund baby, single and no bills or just a 1%’er, the general population is getting hammered.
Cost of living Inflation is rocking this nation. And unless you have some island you can live in your own bubble, before long enough, you will be effected.
Might not ever have credit card issues, but everything around you Will even Taulli crumble at this rate, and I don’t care how well off you are. If you don’t see the COL inflation, your an idiot. Or if you see it and have no compassion for common folks, your a POS!
As for me, I’m still doing ok, I pay my cards off monthly, have done that for 20 years. I’m in the upper tax bracket and get Hammered, I’ve got kids and responsibilities, and even making very good money, I think anyone can at least acknowledge there is a major squeeze on society.
At the very least, quit being an un-compassionate member of society to your fellow citizens.
Nowhere have I said Inflation isn't real. I have said we have a bunch of entitled fricks on here who think they are entitled to cheap everything all the time. That isn't how life works. I would literally eat beans and rice before I started to run up my credit cards. I also get the feeling that most people complaining have huge car/truck notes they don't need, boats they don't need, swimming pools they don't need etc.
Live within your means. Quit being wasteful. Make adjustments temporarily until this ends and it WILL end eventually. Failure to prepare is preparing to fail.
Posted on 8/3/22 at 8:53 am to ronricks
quote:
Doesn't matter who is in office. This was going to happen.
Nothing you say about the economy should be taken seriously. The level of denial some of you have about Biden and this administration is just staggering.
Posted on 8/3/22 at 8:57 am to Flats
quote:
Nothing you say about the economy should be taken seriously. The level of denial some of you have about Biden and this administration is just staggering.
What denial do I have? Biden is a fricking disaster. Nowhere have I said otherwise. Do you know what started all this? The massive spending during Trump's presidency then all the Covid spending and shutting everything down and paying people not to work (who thought that was a god idea
) Biden just added to it. No matter who took office in Jan of 2021 we were still going to have inflationary problems. Would they be this bad? Who knows? But we would still have them. Paying people to not work has consequences and BOTH Trump and Biden are culpable in that.
This post was edited on 8/3/22 at 8:58 am
Posted on 8/3/22 at 9:01 am to ronricks
quote:
What denial do I have?
The denial that what we're experiencing now was inevitable. Biden made it much, much worse, and if you don't understand that you shouldn't be taken seriously on any economic issue.
Posted on 8/3/22 at 9:07 am to Flats
quote:
The denial that what we're experiencing now was inevitable. Biden made it much, much worse, and if you don't understand that you shouldn't be taken seriously on any economic issue.
The money printer was blazing long before Biden took office. Do you understand the ramifications of that? Do you understand the many ramifications of the Covid lock downs and decisions our government made over a cold? Those have consequences and were made long before Biden was in office. Biden added to it. Putting this all on Biden is extremely dishonest.
Posted on 8/3/22 at 9:15 am to ronricks
quote:
Putting this all on Biden is extremely dishonest.
Who has claimed that? Pretending that all of this was inevitable is dishonest; you have done that. I have multiple posts here criticizing Trump for his spending, but that doesn't mean that Biden didn't throw gas on the fire.
We've had inflation for most if not all of the years I've been alive; what we're experiencing now was not inevitable. I can't fathom a reason for claiming that it was outside of sheer ignorance or simply being a dishonest shill for the administration.
Posted on 8/3/22 at 9:17 am to Jjdoc
The next push from Democrats is credit card debt forgiveness.
Posted on 8/3/22 at 9:25 am to Flats
quote:
Who has claimed that? Pretending that all of this was inevitable is dishonest; you have done that.
It absolutely was inevitable when:
#1 you turn the money printer up to '11' like we did
#2 pay people to sit on their arse at home and lockdown the economy
Do you understand this? Yes, Biden absolutely helped this along but Trump is just as culpable for his idiotic covid decisions of printing money, paying people to stay at home, and sending out 'stimulus' checks like they were candy. That absolutely is going to cause inflation. Biden had nothing to do with that part. None.
Posted on 8/3/22 at 9:41 am to LSUFanHouston
quote:
The truth is... it's complicated and economic decisions made under Trump AND Biden and supported by many in Congress are now coming home to roost.
Plus, this isn't an America problem, this is a world wide problem caused by the reaction to Covid. Hindsight being 20/20, the over reaction to Covid has gotten us into this mess and the inability to treat Covid as any other sickness continues to keep burying us deeper.
Posted on 8/3/22 at 9:57 am to ronricks
quote:
It absolutely was inevitable when:
Inflation was inevitable. This level of inflation was not, and you keep pretending that it was. Are you dishonest or ignorant?
Posted on 8/3/22 at 10:15 am to ronricks
quote:
I've thought about it. A stolen election has no bearing on me swiping my credit card.
It does if your family was already operating on a slim margin and suddenly your paycheck loses 15% of its buying power. Good on you for being in a financial position to absorb it. Not all families are.
Posted on 8/3/22 at 10:18 am to Bard
quote:
that the current economic troubles will be around at least for the rest of the year
As long as they are pushing for the great reset, it’s here indefinitely
Posted on 8/3/22 at 10:18 am to ronricks
quote:
Gas being $5.00 a gallon doesn't force anyone to use a credit card. Taxes being raised doesn't force anyone to use a credit card. A specific brand of Bacon being $11.99 for 1.5 pounds doesn't force anyone to use a credit card.
Politics aside, can I ask a serious question? I dont want to get into ad homs or personal insults. Just want an honest answer.
Are you retarded?
Posted on 8/3/22 at 2:37 pm to Vacherie Saint
quote:
Politics aside, can I ask a serious question? I dont want to get into ad homs or personal insults. Just want an honest answer.
Are you retarded?
The example I gave of the $11.99 bacon is Wright Brand bacon. Tell me why I am entitled to that brand of Bacon and why I can't simply pivot to a much cheaper brand (which is exactly what I have done recently)
Now, I will ask are you retarded? Sure sounds like it. You people sound like a bunch of entitled liberals. It's pathetic.
Posted on 8/3/22 at 2:48 pm to ronricks
Quote: The example I gave of the $11.99 bacon is Wright Brand bacon. Tell me why I am entitled to that brand of Bacon and why I can't simply pivot to a much cheaper brand (which is exactly what I have done recently)
Now, I will ask are you retarded? Sure sounds like it. You people sound like a bunch of entitled liberals. It's pathetic.
This in not about entitlements you bumbling idiot. This is about a illegitimate admin nuking our economy on purpose. I have no cc debt. I am though uber pissed off about my 401k going poof like a fart in the wind. What it boils down too is it SHOULD NOT be happening. My 12 year old nephew could have put together policies better than the village idiots that were installed illegitmately.
Now, I will ask are you retarded? Sure sounds like it. You people sound like a bunch of entitled liberals. It's pathetic.
This in not about entitlements you bumbling idiot. This is about a illegitimate admin nuking our economy on purpose. I have no cc debt. I am though uber pissed off about my 401k going poof like a fart in the wind. What it boils down too is it SHOULD NOT be happening. My 12 year old nephew could have put together policies better than the village idiots that were installed illegitmately.
Posted on 8/3/22 at 2:54 pm to ronricks
why is so hard for you to understand that many people after paying utility bill, fuel bill for car, that they don't have as much money left over to buy things like food and hygiene products?
maybe you aren't feeling it as much as most Americans.
if we are being anecdotal, I find it odd that you can't go out and just buy a 60k pick-up. I did. Actually mine cost 79k. I wrote a check. Why can't you do that? If you were responsible like me, you could still by Wright brand bacon.
regardless of that, Credit card dept has jumped to his highest point in 20 years. Once people start defaulting, you are going to feel it too.
My man Hank would call you a "non compos mentis". But I will refrain from ad hominem attacks since there is something not quite right about you.
maybe you aren't feeling it as much as most Americans.
if we are being anecdotal, I find it odd that you can't go out and just buy a 60k pick-up. I did. Actually mine cost 79k. I wrote a check. Why can't you do that? If you were responsible like me, you could still by Wright brand bacon.
regardless of that, Credit card dept has jumped to his highest point in 20 years. Once people start defaulting, you are going to feel it too.
My man Hank would call you a "non compos mentis". But I will refrain from ad hominem attacks since there is something not quite right about you.
Page 6 of 7
Popular
Back to top
Follow TigerDroppings for LSU Football News