https://www.newyorkfed.org/microeconomics/hhdc.html Consumer debt is now substantially higher than it was before the 2008 crash. How much longer do you believe the US consumer can continue to run up credit before this economy like 2008 crashes?
Household debt service and principle payments are at their lowest levels in nearly 40 years; They peaked before the last recession at 13.03% of income. They are 9.86% today.
First, your statistics are quite outdated, and second, they are measuring debt service and not total debt.
Debt is serviced with disposable income. US Households are in VERY good shape. Q1/2019 is "outdated"? On what planet? You are claiming that US Households are as saddled with debt as they were when the last recession hit, implying that another is looming and your claim is utterly without support. Households debt levels are near the best shape they have been in, in 40 years. Please don't tell me that you have swallowed the Fake News Depression Lust crap, hook line and sinker. If you haven't learned that they are the worst combination of liars and idiots, well heaven help you, it's as obvious as the nose on your face. You can't listen to that crap, look things up. There has never been more information right at your finger tips than there is today. US Credit scores just his an ALL TIME HIGH. The average FICO® credit score in the U.S. hit a record high of 704 in 2018. Report Here. This comes nearly a decade after the average FICO® credit score in the U.S. bottomed out at 686 in October 2009 closely following the Great Recession. 703 as of Q2/2019
What? you think credit scores are a leading indicator of recession? Look, I am not trying to convince you or anyone else of anything. The reason most people fail to ever achieve any success in their lives is because they are basically domesticated animals who simply follow the pack. They do what everyone else does and achieve the same results. Most die with little or no assets. I learned long ago to ignore what other people say and do and to focus on the data, and to recognize when the data is being skewed. As a result, I passed the rest of the pack long ago, and now simply try to offer a little insight to those with enough sense to understand what I am saying. There is a reason only a few people ever achieve real success. Most will never know what that reason is.
Nothing could be further from the truth. Unless you are a salesman for more debt, a Banksters looking to add more debt to society. Or one of the Zions who benefits from the fleecing of America. Americans should stop using DEBT servicing money for the greed of others. You should try for "0" debt and everything paid off, not listen to guys like this that tell you it is all wonderful, grow your FICO score so they can lend you more money... Thus paying double or triple for everything you own. Basically without saying so, they want to suck you into to where you cant afford anything but their payments. Then one small mistake and they take it all away, your car, house, etc... That is after receiving thousands in payments... Oh wait, a default might be your problem ? Well add their triple super duper layer of insurance... It is all a big joke on the american consumer. One of the very last to fall for the same thing over and over again.... Many are doing the exact same thing they did back then in 2004-08.... Just plain dumb getting caught up in debt and listening to a swashbuckling swordsman for advice.... Zorro !!!
Another is to look at small bank credit card delinquency. Small banks often give cards to people with lower credit scores.
Another indication that the economy is rolling over is Fed action. The recent lowering of interest rates, proves the economy is slowing, as the Fed does induce stimulus into a healthy growing economy.
Compound interest over time....... Moses explained about one possible remedy in Leviticus chapter twenty five if I remember correctly...... https://www.michaeljournal.org/articles/social-credit/item/the-public-debt-problem?/plenty34.htm
