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A RECORD 7 Million plus Americans 3 months late on car payments.

Discussion in 'Political Opinions & Beliefs' started by 61falcon, Feb 12, 2019.

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  1. 61falcon

    61falcon Well-Known Member

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    In spite of the so called Dirty Donald booming economy we learn today that an all time record 7 million plus Americans are at least 90 days delinquent on their auto loan payments.
     
    61falcon, Feb 12, 2019
    #1
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  2. Oldyoungin

    Oldyoungin Well-Known Member

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    [​IMG]
     
    Oldyoungin, Feb 12, 2019
    #2
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  3. 61falcon

    61falcon Well-Known Member

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    And the hits just keep on coming!!
     
    61falcon, Feb 12, 2019
    #3
  4. Durandal

    Durandal Well-Known Member Donor

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    The same kinds of jobs must be created under MAGA as were being created under Obama: part-time, low-wage, low-skill jobs that don't enable people to afford even basic expenses.

    But the stock market is soaring!
     
    Durandal, Feb 12, 2019
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  5. Right is the way

    Right is the way Well-Known Member

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    Sounds like people are buying stuff that they can not afford.
     
    Right is the way, Feb 12, 2019
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  6. 61falcon

    61falcon Well-Known Member

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    The stock market is going up irrationally, corporate profits do not warrant the current stock prices.
     
    61falcon, Feb 12, 2019
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  7. Steady Pie

    Steady Pie Well-Known Member Past Donor

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    Perfectly rational when they're dumping trillions of counterfeit bills into it.
     
    Steady Pie, Feb 12, 2019
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  8. 61falcon

    61falcon Well-Known Member

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    Making the national news media today.
     
    61falcon, Feb 13, 2019
    #8
  9. squidward

    squidward Well-Known Member

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    They shouldn't have had a car loan.
    Easy access to debt is what drives up prices for everyone. Our collective debt is unserviceable
     
    squidward, Feb 13, 2019
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  10. Questerr

    Questerr Banned

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    ****ing luxury, that’s all cars are. Why don’t these lazy bums use the widespread mass transit system that the Republicans insisted America build...
     
    Questerr, Feb 13, 2019
    #10
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  11. 61falcon

    61falcon Well-Known Member

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    millennials are more inclined to live in areas where public transport is available than prior car loving generations.
     
    61falcon, Feb 13, 2019
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  12. TOG 6

    TOG 6 Well-Known Member

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    Look at you, trying to conflate two unrelated issues, just so you can bash Trump.

    Blind, hyper-partisan bigotry does strange things to people.
     
    TOG 6, Feb 13, 2019
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  13. 61falcon

    61falcon Well-Known Member

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    They are DEIRECTLY related.If the economy was as the administration claims we would not be seeing record setting payment delinquencies.
     
    61falcon, Feb 13, 2019
    #13
  14. jcarlilesiu

    jcarlilesiu Well-Known Member Past Donor

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    So... Americans, even in great economic times, are still absolutely awful at living within their means and budgeting?

    Got it.
     
    jcarlilesiu, Feb 13, 2019
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  15. jcarlilesiu

    jcarlilesiu Well-Known Member Past Donor

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    "The hits"?

    You mean, the constant attempt of the left to victimize people to alleviate responsibility? We have near record low unemployment, yet it is somebody else's fault that people don't pay their bills?

    What world do you live in, really?
     
    jcarlilesiu, Feb 13, 2019
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  16. TOG 6

    TOG 6 Well-Known Member

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    Unsupportable nonsense.
    Living beyond your means is a choice unrelated to the strength of the economy.
     
    TOG 6, Feb 13, 2019
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  17. Hoosier8

    Hoosier8 Well-Known Member Past Donor

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    I wonder if you remember the same thing that got the Housing market into trouble, sub prime loans, was being applied to auto loans during Obama and they said it would never be a problem.
     
    Last edited: Feb 13, 2019
    Hoosier8, Feb 13, 2019
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  18. Quantum Nerd

    Quantum Nerd Well-Known Member

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    Americans are actually worse living within their means in "good" economic times. This is actually what this tax cut is all about. Make people FEEL like the economy is good and that they, too, will be rich. Based on these feelings, they go out and spend money they don't have. You can see it in the car loan delinquencies, soaring consumer debt, tanking savings rate. All these indicators paint the same picture: When the tax cut party is over, we will have a heck of a hangover. It happened in 2008, it will happen again. And when it happens again, fundamentals will be worse than in 2008, with higher consumer debt levels and higher federal debt levels. However, the creditors will have made out like bandits.
     
    Last edited: Feb 13, 2019
    Quantum Nerd, Feb 13, 2019
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  19. jcarlilesiu

    jcarlilesiu Well-Known Member Past Donor

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    https://www.finder.com/car-loan-statistics

    The average car payment in America is $515.

    According to most financial advisors, only 10% of your take home monthly income should go to a car payment.

    That means, in order to afford these vehicles at this average payment, the average income (take home) should be $5000 a month. With an average tax rate of only 20%, that means that the average income would have to be $72,000 per year to justify this average payment.

    That equates to $35 dollars per hour.

    The average American wage in the US is $25 per hour.

    It would certainly appear, according to facts, that people are buying more than they can afford.
     
    jcarlilesiu, Feb 13, 2019
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  20. jcarlilesiu

    jcarlilesiu Well-Known Member Past Donor

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    Source this please.
     
    jcarlilesiu, Feb 13, 2019
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  21. jcarlilesiu

    jcarlilesiu Well-Known Member Past Donor

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    So... people are spending more than they can afford because they were tricked into thinking they had more money than they did?

    Is there ever a time where people are actually responsible for their decisions?
     
    jcarlilesiu, Feb 13, 2019
    #21
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  22. squidward

    squidward Well-Known Member

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    But but but, I need the $10,000 trim package, the large tires and the AWD
     
    squidward, Feb 13, 2019
    #22
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  23. 61falcon

    61falcon Well-Known Member

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    These people who don't pay their debts are following the lead four GOVERNMENT which for the first 3 months of the2019 budget ran a deficit which was 41.89 higher than the deficit it ran in 2018.And 2018 was the highest deficit since 2012.Our NATIONAL DEBT is now over $22.1 Trillion and climbing fast.
     
    61falcon, Feb 13, 2019
    #23
  24. TOG 6

    TOG 6 Well-Known Member

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    Look at you, moving the goalpost.
     
    TOG 6, Feb 13, 2019
    #24
  25. 61falcon

    61falcon Well-Known Member

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    No we have record government debt,record corporate debt and record personal debts.AND THIS IS SUPPOSED TO BE PROSPERIITY????
     
    61falcon, Feb 13, 2019
    #25
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