Average American Household Has $90,000 In Debt

the article in the OP is a lie.

average US household debt is around $6,000.

average mortgage debt is around $70,000, but that's equity that can be used for home equity loans and will mean big income when they sell.

http://www.valuepenguin.com/average-credit-card-debt

http://www.fool.com/investing/gener...e-american-has-this-much-debt-how-do-you.aspx

 

When you combine non-stop advertising, massive worship of materialism, easy credit and inflated property values, you should not be surprised that people live in debt. Just think about it for a second. In 1974, I was content to live in a house that costs 200 bucks a month, bought my clothes at thrift stores, TV was via an antenna that was free, gas was 50 cents a gallon, did not have a phone, no credit card, made 8 bucks an hour and thought that if I could only get enough dough to buy a lid on Friday night, life was good. Now, some of this is because I was only 18 but my parents did not want a lot of useless stuff either. They paid for things in cash because credit was really hard to come by and they all grew up in the depression, money was to be saved not spent. I will be honest, it was better being broke then than it is making six figures today.

 

Actually, they do do mortgages like the rest of the world, with some variations. The reason most Russian folks do not get mortgage is that they do not need it... They already own the place they live in, debt free.

So, only these very well off russkies who buys luxury apartments or build suburb houses get the mortgage, and can usually pay it without problem.

 

There is only one way to handle this. We must send Israel more billions.

 

while, you found a way to attack Jews in a thread that has nothing to do with Jews or Israel.

 

The interest on debt - whether personal or national - is massive sums of FREE money for the super rich.

Banks do NOT loan out money they have. They loan out pretend money the government has. Then people pay interest on the money the bank never had to the bank/financial institution.

The same is true on the national debt. Hundreds of billions is paid in interest on trillions of dollars in debt for money that never existed in the first place.

What a great racket. I give you an IOU $100,000 and you pay me $10,000 a year interest on it. Forever.

 

Whatever. It makes perfect sense. You people don't give a damn about starving, homeless Americans as long as you get more money for your genocidal BS.

 

Do you realize, Israel gets most of American money in form of trade credits and these money goes right back to buy Ameican made goods? By denying Israel these credits, many Americans will go unemployed.

(*)(*)(*)(*)ing makes no difference to you, does it?

 

The US economy is dying. The debt of households - will kill the US population.

For example if you look at the bond market, the yield curve of US bonds decreased since the middle of 2013, but now it has fallen to 2007 levels, when the last recession in the US economy.



State of the stock market, particularly the financial sector, a traditional indicator of the health of the economy. This sector responds first to any changes.

 

Hogwash!

And it doesn't change the fact that American children are sleeping on the streets and eating out of dumpsters as billions get sent to continue her genocidal BS.

 

Strangely...living here I have not noted this collapse of our economy even though my household is considered "Middle Class" by most standards. My debt ratio is very good and I tend to eat rather well. I suppose people have a much better view from Russia.

Could you guys take a look at my weed problem in the back yard...it's over by the planter with Hostas on the right.

 

Bull(*)(*)(*)(*), my friend. By graciously accepting loans, Israel creates American jobs and helps keep these kids who'd otherwise would sleep on the streets and eat out of dumpsters out of the element.

 

The view probably is just as good, as an American would have into Russia.

 

LOL @ "graciously accepting."

And whatever you say does not change the fact that the billions could do far more for Americans in America. You don't give a rats ass about homeless, starving children here. Every post of yours is about how wonderful Israel is and what a victim she is at the same time.

Pretty sad, really.

"graciously accepting."

"graciously accepting."

"graciously accepting."

LMAO

 

Apparently Sarah Palin can see just fine. I guess I better shut the blinds.

 

Thank you. But I think the intelligent one was my mom who taught me about money (and debt interest) early. I still remember my mom sitting us down and showing us how much the average mortgage really costs...that was eye-opening. She just kind of passed on this disdain of debt and distrust of credit lenders. (My mom worked for a bank).

I think parents should spend more time teaching their kids about money....about saving...and about borrowing.

Its always amazing to me how easy it is to borrow money. Those cash advance places are a prime example...they should simply be illegal....they are loan sharks and soooo many people get into trouble with them.

 

The truth is, most of us learn about different places by reading, watching documentaries and, of course, in forums. Unless you're blessed (or cursed) by going there. Me - I'm looking forward to a several days of fishing for sturgeon in lake Baikal, on my way to Shanghai mid-July...

 

Indeed. So, should we also deny billions to Pakistan, Afghanistan, all other -stans, Egypt, Palestine, Jordan and a (*)(*)(*)(*)load of other countries? Are you all for it, or are you specifically singling out Israel?

 

having a 30 year mortgage equalling $300,000 in debt, at a 3% interest rate, is not a bad thing.

its a good thing.

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there are very few if any "starving" people in the USA

 

Awesome...watch out for deadly
seals.

 

sorry but I'm not going to get worked up over mortgages

 

Part of the problem is "the I want it now" mindset that drives too many peoples spending habits. Years ago people saved to buy "wants" and even some "needs". Fast forward and now more often than not the two are interchangeable and people tend to purchase items on credit regardless of current fiscal circumstances. Take this to the extreme and you understand why household debt is as high as it is.

Jmo

 

What is your interest in US domestic affairs?
What in your opinion constitutes a "good living?"

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What household debt concerns you most and why?

 

To whom is debt the lender can no longer afford most catastrophic?

 

A mortgage is a significant debt. Financing a new car is as well. If the lender gets a raise or loses a job, the debt doesn't change.