Americans loaded up on $40 billion more in debt in June, Fed says

https://www.google.com/amp/s/amp.cn...nsumer-credit-report-debt-increase/index.html

Wow, inflation is so out of control that folks are piling on debt just to survive!

Will the democrats ever stop.wrecking the economy?

What is their end game? Perhaps to make everyone poor!

 

I see some folks do not care about the American people.

 

Massive inflation under the democrats is wrecking the middle class.

 

LOL! Did you cry when credit card debt increased under Trump or GWB?


I bet you didn't.

This is, unfortunately, the American way. Buy stuff you don't need and can't afford on credit, to keep up with the Jones'. Looks like the consumer loads up on debt again, rather than facing the consequences of belt tightening following the covid binge. It's not unexpected.

 

TRRRRUUUUUMMMMMMPPP and BUUUUUUSSSSSSHHH,
The hell with topic ¯\_(ツ)_/¯

 

Looks like it came down under Trump then skyrocketed under Biden. LOL! Thanks for proving me correct.

 

of course they did not cry back then

 

Revolving debt is the real issue. Americans tend to live beyond their means. They have the newest cell phone, big TV, new car, nice clothes, but no money in the bank.

 

Unless someone has severe medical conditions or was hit with a spousal issue, ones personal debt is theirs and theirs alone !!!

Blaming Biden for others personal debt is a joke.

 

You are too smart for this. Of course, you full well know that it came down because of covid, since people got government checks and couldn't spend. Before covid, credit card debt skyrocketed just like before the great recession. Now, on to your next senseless deflection points.....

 

Baloney, yanno you can still use a credit card from home right?

 

Not when folks can't make ends meet or when things cost more(thanks biden) then folks need to borrow more.

 

Not when democrats are in office. Inflation(al la Jimmy Carter, Joe Biden,etc) folks need to borrow money just to survive.

 

Yay, an economy fueled by debt, what could possibly go wrong with that? (sarcasm)

 

Obviously going by your previous posts, you are concerned with inner city residents.

 

I get your point, but these people are not using revolving debt to survive. Those running up their cards have nice things, modern electronics, and other luxuries. Sure, inflation is a problem, but the average American is conditioned to consume. Meanwhile, the Chinese live on much less and still save 30% of their income. We buy Chinese products that will be in a landfill in a few years, while they buy our land.

I will join you in criticizing dems, but both parties benefit from the poor spending habits Americans are known for. That money is going to companies with powerful lobbies and will be used to gain/maintain political power. No one gives a damn about the people. They are expected to turn off their minds and pull out their credit card.

 

I truly doubt the vast majority of Americans could live as thriftily as Chinese and with their work ethic, even if their life depended on it.

Most Americans would not be able to survive in China. (I mean if they had to live their life on money they earned in China)

 

I wonder what percent of members here on a daily basis actually own a vehicle that is paid off?

My minivan is paid off, my motorcycle is paid off ( never financed it) I have zero debt except some medical bills and I'm posting on a $40 cell phone

 

My son taught English and American culture in China. There are 2 ways to be wealthy:

1. Have more
2. Need less

 

Taking on two jobs and alot of debt is the only way to survive in a Democrat ran country like the US.