Credit card debt hits new record, raising warning sign

Credit card debt is a societal problem if it results in reduced consumer spending.

 

Or how government debt ceased to be a problem when Trump wanted to cut taxes.

 

In my unreasoning, irresponsible youth, I was actually quite liberal. But, as I grew up in this world, I soon found that the variety of liberalism that invariably attaches itself to socialism (and the equally inevitable parasitism) was simply a luxury that I could not afford. I would like nothing better than for all of us to be able to live in a kind of carefree Shangri-la, where poverty and its misery does not exist.

Mmm... I used to dream a lot of things before my little voice barked at me, saying, "All right, imbecile -- time to wake up and get your ass back to work!" So, I did... and now I'm retired -- not surprisingly, with everything I need and nearly everything I could want....

 

Democrats aren't collectivists, socialists are.

Get your head out of the Angry Middle-Aged White Male Religious Traditionalist Rightwing Open Mouth Media Echo Chamber.

 

Democrats are socialist. Look at Bernie Sanders.

Democrats are also extremely racist/sexist and are so brainwashed they don't even know it.
You should check out the "racism for dumbies" thread.

 

Because they don't understand how the economy and banking system works.

If you really want to feel sick, find out what passes for teaching economics in your local high school. They typically give the econ class to social studies teachers who can't explain the laws of supply and demand. The "economics teacher" talks about "business" for 100 hours and that's what passes for economics education.

One prescribed text in social studies talked about the "law of supply and demand."

[gag][spit]

 

Not necessarily but raising the work requirements and shorter term limits will certainky give some incentive as it did in the late 1990's.

 

Republican's produced surpluses in tne late 1990's early 2000's and after tne 2001 recession got it down to a paltry $161B headjng to surplus again until the Democrats took budget control what are you talking about?

 

What about Sanders? He says he's a socialist, but he never advocates collectivizing production. IOW, he isn't a socialist. Why would anyone in the U.S. call themselves a socialist when they aren't? Beats me, unless they're just plain stupid.

So what? They're far less racist and sexist than Republicans.

I might, but I can get my fill of racism in most political threads.

 

Republicans controlled the House from 1995-2007 and the Senate most of the Bush Administration. Here are the budget deficits (and surpluses):


Bush policies (including letting Lehman go broke) created a credit crisis so bad even banks wouldn't lend to each other. The credit crunch killed consumer and business spending. Government stepped in with a combination of tax cuts, business lending, and spending. Would you have preferred a depression?

 

Don't you have anything better to do than propagandize the forum?

 

We could fix the economy by increasing both public and private R&D, infrastructure spending, and job training. We could tie business tax relief, beyond competitive rates, to investment. We should encourage individual savings and discourage dead investments like monster houses and motor vehicles.

 

It will be interesting to see if you learn anything about the deficits and 2008 recession. I'm on the fence as to whether you just don't understand or you're propagandizing the forum.

What would Clinton have done with a Democratic Congress from 2005-2001? Would we have had surpluses?

Yes, and we had large deficits when Republicans regained control in 2011. So what?

 

I've been working at something since near 10 yrs old.
I bought most all my bikes, bought my hunting rifle, and anything that wasn't food or clothes. As the oldest of 6, if I wanted something, I had to earn money to buy it.
I am still mostly fiscally conservative.
And since I don't hold christianity in high regards anymore, have become more liberal. Socially.

 

By that logic, Republicans are imbeciles. Look at tWump.

But in the real world, Sanders is one person in the D party.

 

2004? What "recovery" are you talking about?

If you're so concerned about deficits, why would you support personal tax cuts for the top 1%? Business tax cuts should take care of them.

There are ways to help the economy and the only truly useful thing he's doing is cutting business taxes. He trade policies and personal tax cuts are harmful.

 

They spend more time teaching about "white privilege" and how badly the system treats blacks than anything else. The 12 years the kids spend in public schools could easily be condensed down into about four years once they mash all the social stuides and politically correct bullshit out of it.

 

What's wrong with, say, a Toyota Corolla you can snag for $20k? And what about a 1600 sq. ft. house instead of one twice that size!

 

There's a place for analyzing racism, race relations, and so forth, but not any place for the sort of pathetic crap about economics I mentioned.

If we want quality instruction, especially in computers, math, the sciences, and trades, we'll have to pay teachers more money.

https://articles.niche.com/teacher-salaries-in-america​

It takes teachers 20 years to get to the lowest starting salaries for computer science grads.

https://www.payscale.com/research/US/Degree=Bachelor_of_Science_(BS_/_BSc),_Computer_Science_(CS)/Salary​

If we continue paying low salaries, we'll continue getting a goodly share of liberal idealists in teaching. We can pay our bucks and takes our choice.

 

A Corolla sized is too small and not safe from my perspective. We have a 13 year old SUV-Crossover and a car that will be 3 years old in a few months that comes off lease so it needs replacement. A Subaru lgacy not too big but safe.

We have done our share for downsizing since I retired we are down to a 2100 ssqrv ft condo. Still plenty of room upstairs to house the grandkids when they stay over. We could have survived with the 1450 sir ft model but got a great deal on the model house so couldnot pass it up.

Both my wife and I grew up in a three beadroom house and she had to share a room with a sister and I had to share with a brother. Both her dad and my dad were working guys and did the best they could. We appreciate that but we wanted better for our kids. We did not want our kids to have to share bedrooms so we wanted a big house back when they were home. That is the American way.

 

Don't blame me, I've been quite outspoken against fractional reserve banking. In the meantime I may as well milk the fools.

 

At least we have something in common.

 

The point is that people should live within their means. If you can afford more than a compact car and small house, that's great.

We still live in a 3500 sq. ft. house and travel the world, but we don't owe anyone a dime and live well within our means. I suspect you're the same way.

The American Way these days seems increasingly to be live on the edge. It's not my way.

 

Those who spend themselves into poverty deserve their fate.

 

What does this have to do with anything - I despise both parties. But it's both parties fault...period. If you think it is not, then you do not know your recent macroeconomic history.

Bringing more money back to America won't change much. The problem is WAAAY too much money that no one is spending - hence the M2 Money Velocity at record lows.

The topic header is VERY bad.

People turn to credit cards as a last resort. No one in their right mind is going to rack up a 16-20+% interest rate, credit card if they have money in the bank.
That means that people are running out of options.
This is EXACTLY what happened before the last crash...people's personal savings dropped (as it is now) and they maxed out their credit cards (as they are now).

There is no possible scenario where record credit card debt is a good thing...none.