Average American Household Has $90,000 In Debt

when Bush made it so no one could bk unsecured debt, credit card lenders and stuff went to town marketing cards to our children for amounts they had no business having

.

 

Or medical expenses, or a home business, or kids, or educational expenses.
Do prefer to owe, break even or get a refund?
Do you make changes in an effort to affect it? If so, what?

 

What is a town marketing card?
What year did Bush do that?
What are the pros and cons of personal bankruptcy?

 

It's really not the case lol that the middle class elsewhere is in need of governmental aid to stop them from starving to death.... lol

 

I'm sorry is there a sizable portion of the the American population that require government aid or they will starve to death?

 

'Today in 2005: President Bush signs sweeping bankruptcy reforms into law"

http://blog.legalsolutions.thomsonr...h-signs-sweeping-bankruptcy-reforms-into-law/

"What is a town marketing card? "

went to town marketing something is not a card, it's what the banks did

 

3% does not help.
In 2011 average debt was $70,000 and it's growing

 

Even the CEO of McDonnalds do not know hot people can survive working for them in the US.

 

LMFAO!!! Man the lifeboats!

Tell me, after spending his entire miserable existence living in a rundown apartment and riding back and forth to work on the Metro, what does a Troll from Olgino have to show for a life of polluting Internet discussion forums with xenophobic spam?

NOTHING.

The free flow of goods, services and capital is vital to free market economies, but the people in your country didn't get that and that's why your economy completely imploded.

 

What happens to the home you still owe on or car you still owe on when someone files for bankruptcy?
Could you tell me more about town marketing? I have never heard of it.

 

That didn't even make sense.

 

Consumer credit - a drug. At first, everything seems rosy and nice, but then comes the "break-up". Man becomes dependent and becomes a slave. As well as heroin.

 

I like your hysterics.

[video=youtube;yYRJoc5ttxA]https://www.youtube.com/watch?v=yYRJoc5ttxA[/video]

 

if you "go to town" on marketing, you really push that type of marketing... hopefully it sunk in that time

 

IMO, most Americans have become trained monkeys for the bankers and the government. Our only debt is our mortgage on a 15 year at 3.37%. Credit card companies pay us(PIF each month, collect cash rewards)to use their cards. We pay cash for cars and all other consumer spending. We pay ourselves the car payment into savings each month.

So, we have zero debt as per this study. We're not caught with our pants down when our incomes drop. I can't and we won't run to the government for unemployment(welfare program) or other freebies. It is tragic that most Americans have consumer debt when they do not have to.

 

You obviously don't like facts.

Who was it that made the hysterical claim that the U.S. economy would soon explode?

 

http://www.politicalforum.com/showthread.php?p=1066353794#post1066353794

 

Indeed it does not. The CEO's of McDonnalds, not quiet the dumbest people,... looked at how much a person flipping burgers for them full time was able to make a living. And they could only conclude that it is impossible because they don't make enough money to pay rent, food etc. And so if the US government wouldn't help out with foodstamps,.. means they would die from hunger.

 

Good strategy. We held off paying off our mortgage completely for a long time because of the mortgage interest deduction and business deduction but ended up just going ahead and doing it when my husband retired for a couple of reasons. Peace of mind being one...I just loathe debt of any kind. And two, we were able to use the money to invest in portfolio assets...my husband is good with managing that and now has more time to do it. If you're bad at saving, paying down your mortgage is a kind of forced savings account too.

We also got dual citizenship and spread our investment in case one economy severely tanks or there's conflict/turmoil in one place, we can move.

It doesn't always make sense to pay it off but personally I'm glad we did. In the spring we'll be building our new and hopefully last house and we're just going to pay cash for it. We'll be foregoing the deduction again but also avoiding any interest payments.

There's just something amazingly liberating about living with zero debt. And it certainly saves time in paying bills and shuffling money around.

 

In all fairness, McDonalds jobs were never intended to support families full-time though. I'm not arguing that minimum wage shouldn't be higher....just that that particular argument doesn't make sense.

McDonalds jobs (unless you're moving into management) were supposed to provide young people with starting employment opportunities or offer supplemental income for people trying to earn more money to contribute to their households.

The tragedy is that these types of jobs are now becoming the primary income source for so many adults. We need to move people out of these types of service jobs and into higher skilled, higher wage paying jobs.

 

Sounds like most of this debt is a mortgage. That is less debt than I would expect and nothing to be alarmed about

 

If you woke up tomorrow and the Wall Street Journal proved that the enormous national debt will bankrupt the USA, would you still take the debt?

Trouble is, most people won't pay any attention to proof. They think we can just go on forever mired in deeper and deeper national debt.

Look at the trend.

Obama shows up with our country approx. 10 trillion dollars in deep debt. We have almost 20 trillion of debt now. That comes close to a trillion per year of debt. The trend as the hockey stick crowd loves to say is a steep upward curve. If we need fret over climate, how can we ignore such massive national debts? Notice the almost record low GDP growth over the past 7.5 years. Notice too the massive upsurge in the class of out of work expressed in workforce participation rates.

It is getting dire folks.

 

In all fairness... you can not even support just yourself working a fulltime job there.
And plenty of jobs pay that crap wage for people who work full time in the US,
because there is nothing better than work your butt of for almost nothing,
and are totally dependent on aid that keeps you from starving to death.

Rather similar to what people in poor African countries got, who are dependent on UN food aid.

 

Add that to your mortgage then if it makes you feel better.

 

Either that made no sense or I'm missing something

Edit: I see auto correction screwed up my first post so I guess I get your response now. Time = like